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Nigeria’s Topship secures $2.5m fund to support African businesses. 2 other stories and a trivia



This line-up of stories will help you discover the latest happenings around the tech world, today

1. Nigeria’s Topship secures $2.5M fund to support African businesses

A Nigerian digital freight forwarding platform, Topship, has announced securing a $2.5M seed round.

The raise comes months after concluding the recent YC winter batch.

According to Co-founder and CEO, Moses Enenwali, the raiser was led by Flexport, a freight forwarding and customs brokerage company based in San Francisco, California.

The funding round also saw participation from Y Combinator, Soma Capital, Starling Ventures, Olive Tree Capital, Capital X and True Capital.

The Lagos-based startup uses technology to help African businesses to connect customers, suppliers, and distributors across the World.

Ripples Nigeria can confirm that the startup was founded during the coronavirus lockdown in 2020 by Babatunde Junaid, and Moses Enenwali.

Tech Trivia: A username/password combination is often called a what?
A Passcode
B Security Key
C User Account
D Login
Answer: see end of post

2. Kenya’s food distribution platform, Twiga food, invests $10 million in new subsidiary

A Kenya-based B2B e-commerce food distribution platform, Twiga Food, has announced investing $10 million in the recently launched subsidiary, Twiga Fresh.

Read also :Norway’s Pangea looks to support African startups. 1 other story and a trivia

Twiga CEO and co-founder, Peter Njonjo, confirmed the latest launch in a statement on on Monday.

The Nairobi-based startup simplifies supply chain between perishable fod farmers, FMCG manufacturers and retailers through its platform.

Ripples Nigeria gathered that the B2B startup was founded in 2013 by Grant Brooke, and Peter Njonjo.

Njonjo, while commenting on the launched platform, said:

“We will continue to run the B2B e-commerce business under Twiga, focused on building a one-stop supply-chain solution for informal retailers, delivering both Twiga and non-Twiga owned products.

“Twiga Fresh, in addition to our growing range of private label products, will ensure we drive growth in customer numbers and broaden the basket size by offering quality products at a discount against prevailing market prices.”

3. UK’s BII invests US$220m in Kenya to boost internet connectivity

The United Kingdom has, Monday, announced providing US$220m financing through British International Investment (BII) to boost internet connectivity in Kenya.

BII’s Chief Executive, Nick O’Donohoe, confirmed the latest development noting that the fund is expected to boost innovation and the digital economy in Kenya.

Ripples Nigeria gathered that BII is UK’s development finance institution, running as an impact investor with a mission solve the biggest global development challenges.

Founded in 1948, BII was formally known as CDC Group plc.

O’Donohoe, while commenting on the latest raiser, noted that the long relationship between the UK government and Kenyans made the funding easier.

He said: “Our history in Kenya shows our appetite to grow and shape markets.

“We helped establish the Kenya Tea Development Authority in 1964, and we’ve continued to support the company’s growth to become the world’s third-largest exporter of tea and Kenya’s second-largest source of foreign exchange.”

“As we embark on this new chapter, we know the country will continue to hold an important place in our future and we look forward to working with all of you in the decades to come.”

Trivia Answer: Login

A login is a set of credentials used to authenticate a user. Most often, these consist of a username and password.

However, a login may include other information, such as a PIN number, passcode, or passphrase. Some logins require a biometric identifier, such as a fingerprint or retina scan.

Logins are used by websites, computer applications, and mobile apps. They are security measures designed to prevent unauthorized access to confidential data.

By: Kayode Hamsat

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