INTERNATIONAL NEWS
Print And Publishing Companies
Make It Into The Top 20 Most
Promising African Start-Ups
Programme
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Tanzania).
Rensource (Energy, Nigeria).
Sendy Ltd. (Delivery, Kenya).
Snapplify (Publishing, South Africa and
Kenya).
Sokowatch (Delivery, Kenya).
TalentBase (HR, Nigeria).
Timbuktu (Travel, South Africa).
Tizeti Network Ltd. (Connectivity, Nigeria).
The residency will conclude with the XL Africa
Venture Showcase, a regional event organised
in association with the African Angel Investor
Summit, in which the entrepreneurs will present
their business models to a select audience of
corporations and investors. With support from
African investment groups, XL Africa will help the
start-ups attract early stage capital.
Kenyan and South African based Snapplify and
Nigerian based Printivo made it into the 20 most
promising African digital start-ups that will take
part in the XL Africa residency. This is a fl agship
initiative of the business accelerator that was
launched in April 2016 by the infoDev programme
from the World Bank Group. The event took place in
Cape Town from 6-17 November 2017.
Selected from a pool of over 900 applicants, these
start-ups specialise in digital solutions for the
African market, including fi n-tech, transportation,
healthcare, education, human resources and B2B.
All companies provide a digital product or service
currently available in one or more African markets
and show potential to scale across the region.
Entrepreneurs had the opportunity to learn from
their mentors and peers, increased their regional
visibility and accessed potential corporate
partners and investors. The selection for XL Africa
was conducted by a panel of industry experts
from the International Finance Corporation (IFC),
implementing partners IMC Worldwide, Koltai
& Co and Venture Capital for Africa (VC4A) as
well as investors from prominent African funds,
including Knife Capital, 4Di Capital LLP, Singularity
Investments, TLcom Capital LLP, Goodwell
Investments, Nest Africa and Africa Tech Ventures.
The selected start-ups included:
• Aerobotics (Data, South Africa).
• Asoko Insight (Data, Kenya, Ethiopia, Ghana,
United Kingdom, and Nigeria).
• Coin Afrique (Marketplace, Senegal and
Benin).
• Edgepoint Digital (Jamii) (FinTech - Insurance,
Tanzania).
• Electronic Settlement Limited (FinTech,
Nigeria).
• Lynk Jobs Ltd. (HR, Kenya).
• MAX (Transport, Nigeria).
• ogaVenue (Venue Platform, Nigeria).
• Ongair (SME Services, Kenya).
• Pesabazaar.com (FinTech, Kenya).
• Prepclass (EdTech, Nigeria).
• Printivo (Printing, Nigeria).
• Rasello Company Ltd. (SME Services,
www.AfricaPrint.com
Klaus Tilmes, Director of the Trade &
Competitiveness Global Practice at the World Bank
Group said, 'We are pleased by the interest infoDev
and XL Africa generated across the continent in just
a few months. XL Africa attracted fi rms with high-
growth potential; many have female co-founders,
have already raised early-stage investment, and
have demonstrated signifi cant market traction. The
number and quality of applications received are a
clear testament to the competitiveness of African
start-ups and the key role they play in Africa’s
growing digital economy.’
‘We encountered very strong companies,
particularly in the transportation, HR, and data
analytics sectors. We also observed signals of a
nascent pipeline of digital companies beyond the
traditional hot spots of Nigeria, Kenya, and South
Africa. These talented entrepreneurs are among
those who are going to drive innovation on the
continent and offer great opportunities for investors
looking at African markets,’ said Danai Musandu,
investment associate at Goodwell Investments.
XL Africa is funded by the governments of Finland,
Norway and Sweden, and administered by the
World Bank Group with implementation support
from IMC Worldwide, VC4A, and Koltai & Co.
www.XL-Africa.com
press for its plant in Nairobi.
Currently, there are three fl exo presses and two
gravure machines running at the factory that print
a total of 55,000 linear metres a day. The company
is getting a new gravure press and more fi nishing
lines to Nairobi. With increasing production,
Manipal is shifting its factory to a 929sqm (10,000
square feet) facility in the city.
Pritam Choudhary, managing director at Manipal
Africa said, ‘It will be the fi rst Lombardi press
in east Africa. This mid web press fi ts well with
gravure and narrow web presses running at the
factory and is meant to print short run jobs of
10,000 linear metr