Mrembo Naturals: Tanzania's Shining Star in the GoGettaz Agripreneur Prize Competition.

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In a proud moment, Mrembo Naturals has emerged as the only Tanzanian startup among the top 24 semi-finalists in the prestigious GoGettaz Agripreneur Prize Competition 2024. Represented by the dynamic Irene Simon Ivambi, Mrembo Naturals stands tall in a field of 24 ventures from 17 African countries, competing for a share of the $160,000 prize pool.

Showcasing Women-Led Innovation

Mrembo Naturals is not just a startup; it's a movement. It drives the spirit of innovation and empowerment, creating organic cosmetics and raw materials from often overlooked crops. By empowering women farmers through training in sustainable cultivation, Mrembo Naturals transforms imperfect produce into valuable ingredients like butter and oils. This initiative not only boosts women's income but also significantly reduces food waste.

The Global Demand for Organic Products

The demand for organic cosmetics is on the rise globally and locally. However, in Tanzania, organic products are often expensive and inaccessible, pushing people towards chemical-laden alternatives. Mrembo Naturals steps in to fill this gap by producing affordable organic raw materials, creating employment, and promoting health.

Empowering Women and Reducing Waste

Empowering women farmers is central to Mrembo Naturals' mission.

• According to FAO 43% of the agricultural labor force in developing countries is accounted by women, yet they face significant barriers, including limited access to resources, training, and markets.

• By providing these essentials, Mrembo Naturals enables women to improve their livelihoods and become active participants in the agricultural value chain.

Reducing food waste is another critical objective.

• The United Nations estimates that about one-third of all food produced for human consumption is lost or wasted.

• Mrembo Naturals addresses this issue by utilizing neglected crops and transforming them into valuable raw materials, promoting sustainable agricultural practices.

Tanzania Hosts DREEM Hub Conference 2024 in Dar es Salaam.

From July 8th to July 10th, 2024, the Distributed Renewable Energy Ecosystem Model (DREEM) Hub Conference convened in Dar es Salaam, bringing together a dynamic mix of key ecosystem players, government officials, financial institutions, entrepreneurs, and technology innovators from Tanzania, Kenya, and Uganda. This gathering was a testament to the region's commitment to sustainable development and technological advancement.

Supported by the Mott Foundation, the DREEM Hub aims to leverage solar energy to empower remote off-grid communities, enabling them to thrive amid the ongoing global climate change challenges. This year’s conference focused on advancing the productive use of renewable energy services in East Africa, particularly within the agriculture sector

The Conference, guided by the theme: Financing an Ecosystem of Agrisolar Entrepreneurs in East Africa, successfully explored innovative financing approaches and frameworks within East African Agrisolar Ecosystem to enhance the sustainability and productivity of agricultural practices through renewable energy solutions. The frameworks include collaborative innovations from various financiers such as commercial banks and impact investors, as well as shaping a supportive policy and regulatory environment for clean energy financing.

Agrisolar refers to the market sector where sustainable agriculture practices (practices with the aim of improving environmental and socio-economic benefits for the farm and its territory) are combined with PV installations. Agrisolar includes, but not limited to, the provision of agricultural sheds with solar roofs or use of solar electricity to power agricultural machinery and systems such as for irrigation.

• Agriculture contributes to about one-third of Tanzania’s GDP and employs about two-third of country’s population.

• Solar energy contributes about 1% to Tanzanian’s energy mix.

• Average solar radiation in Tanzania is between 4 and 7 kWh per sqm.

These data indicate that agriculture contributes greatly to the economy and improving livelihoods thus need for innovative solutions and supporting policies is of huge significance. Also, a very low contribution of solar energy to the energy mix demonstrates a wider room of opportunity for renewable energy integration, particularly solar due to its high potential, in developing other sectors specially agriculture in this case. Thus, Agrisolar is one of the potential areas that require attention and poses a challenge to relevant stakeholders in developing this promising sector.

Thinking of agribusiness solutions? Look into Agrisolar!

Vodacom Accelerator DEMO Day.

VDA Season 3 conducted in collaboration with MassChallenge and Huawei Tanzania, providing early-stage startups with mentorship and resources over three months intensive boot camp came to an end in a Demo Day on July 11th, 2024.

Top 7 selected Startups from VDA Season 3 pitched to investors, industry leaders, and potential partners during this event.

• GoGo Tanzania: On-demand assistance mobile app for drivers.

• MITz Kits: Designs and assembles science experiment kits.

• Altitude X: Drone-as-a-Service.

• Afya Lead: Developed the ‘Mkanda Salama’ device to prevent postpartum hemorrhage.

• Mnyama Check: Digital livestock management app.

• Makonda Renewables: designed a wave-powered water irrigation pump.

• SAB Biomanufactures: Utilizes algae to capture carbon dioxide 10-15 times more than plants.

Investment Highlights ⚡⚡⚡

NALA Secures $40 Million Series A Funding, Paving the Way for Global Expansion

In a groundbreaking achievement for African tech, Tanzanian fintech startup NALA has raised $40 million in Series A funding. Led by Acrew Capital and supported by five other venture capital firms and angel investors, this round marks one of the largest in Africa’s tech history.

The substantial investment will help NALA to:

• Expanding remittance services to other markets.

• Scaling Rafiki, its B2B payments platform designed to provide a unified API for global businesses, making it easier to facilitate payments into and out of Africa.

NALA now serves nearly 500,000 customers, facilitating money transfers to 11 African countries through 249 banks and 26 mobile money services.

Tanzania’s Amsons Group Makes $180 Million Bid for Bamburi Cement

The Amsons Group, a conglomerate based in Tanzania, has made a $180 million bid to acquire Kenya’s Bamburi Cement. This move, part of their market expansion strategy, is set to become one of the largest business takeovers in East Africa.

Amsons Group, which operates in Tanzania, Zambia, Malawi, Mozambique, the Democratic Republic of Congo, and Burundi, has diverse interests in energy, construction, food, and transport sectors. The acquisition of Bamburi Cement, which has plants in Mombasa and Athi River, would mark Amsons Group's entry into the Kenyan market.

According to Managing Director Edha Nahdi, this acquisition also provides an opportunity for further investments in other businesses within Kenya. The offer includes a 44.4% premium over Bamburi's last closing share price, with Amsons Group proposing to pay Bamburi shareholders Ksh65 ($0.51) per share. The public takeover bid will be executed through Amsons Industries (K) Ltd, the group's Kenyan subsidiary

⭐Event Highlight: MTI Investment Hub info Session

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Funding opportunities 🎇🎇🎇

CV Labs Accelerator Program

Deadline: July 19th, 2024

Giving Joy Grant Program for Women

Deadline: July 31st, 2024

UNIDO Global Call for Food Tech Companies, SMEs and Start-ups

Deadline: August 15th, 2024

Global good fund Fellowship
Are you ready?? Applications for the 2025 is accepted. This fellowship is annual in-person Summit! The summit is a 12-month Fellowship, a pivotal moment when entrepreneurs transition from working one-on-one with their professional leadership coach to collaborating closely with their executive business mentor.

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