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    BREAKING NEWS
    $7.9 Billion in Exports glid in 2021 from the East African Community (EAC) Bloc to Africa amidst the Novel Corona Virus (COVID -19) Consequence
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    Africa’s Economic Growth to Outpace Global Forecast in 2023-2024, AfDB Report
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    …for Electricity Generation Kenya’s Electricity Capacity Rises at 3,000MW
    The Administration of the Egypt Pound diminished by 13% below 32 to the U.S.D as the Central Bank of Egypt started a flexible exchange rate of an International Monetary Fund Financial Support Package
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    Dangote and Partners Invest $1 Billion in Sugar Production in Nigeria

    $90 Million disclosed by the Egyptian VC Ventures slating in giving rise to its first Enterprises in Eastern and Western Africa after earning its next Budget

    Posted On 24 May 2021
    By : New Africa Business News, Staff Correspondent
    Comments: 10

    By Abdul Rahman Bangura–

    Photo Credit: Quote inspector

    NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- According sources in April, 2021 Algebra Ventures had confirmed the blastoff of its $90 million second allotment, targeting an initial closing in Q3 of 2021 and hopes to double down on the success of its outstanding budget.

    Four years into its first $54 million fund, the corporation has subsidized in twenty one startups, involving Trella, elmenus, GoodsMart, and Halan, creating over 20,000 direct and indirect jobs. Its six most stabilized businesses are prized at over $350 million.

    Karim Hussein, Co-managing informed the media, the recent fund will see Algebra widen its spectrum relatively, with the corporation continuing concentrated on Egypt but also staring at giving rise to some enterprises in additional African countries as well as the Middle East.

    “We will continue to invest in exceptional entrepreneurs and build up our talent network to support our growing portfolio. We are doubling down on Egypt and will explore new markets in East and West Africa,” he mumbled.

    “The continent has a young and growing population and many challenges. With those challenges come significant opportunities to build exciting new businesses that address these challenges. We believe the opportunities are endless and the population is young, driven, and tech savvy, making the continent a perfect environment for highly
    successful tech endeavors.”

    Sector-agnostic, Algebra Ventures works out nonetheless, look for careers where technology is a prominent element, that allows productive scaling of the product or service.

    “We also look for businesses that are able to create a competitive advantage through the technology solutions they provide,” stated Hussein.

    Algebra Ventures functions approximately with its portfolio companies, furnishing equity as well as boosting with strategy and operations. It has also financed the hiring of a number of C-level executives for its portfolio companies and will proceed to invest in growing its talent pool, ensuring that the most qualified and ambitious individuals
    continue to join Algebra’s portfolio.

    The new appropriation shall propose chances in fintech, agri-tech, ed-tech, logistics, and healthcare by partnering with high-potential creators to address certain market rifts in these sectors.

     

    For New Africa Business News (NABN) Abdul Rahman Bangura Reports,  Africa Correspondent

    Email: Info@newafricabusinessnews.com

    AFRICA’S MOST READ AND FASTEST GROWING GLOBAL NEWSPAPER – www.newafricabusinessnews.com

    About the Author
    New Africa Business News Staff Correspondent
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    10 Comments

    1. Ahmed May 24, 2021 at 3:22 am Reply

      As always, thank you for covering Egypt. Cairo Egypt. Ahmed

      • New Africa Business News, Staff Correspondent May 24, 2021 at 3:34 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    2. Harona May 24, 2021 at 3:24 am Reply

      Business is growing and happening within Africa. Country to country. Conakry in Guinea. Harona

      • New Africa Business News, Staff Correspondent May 24, 2021 at 3:34 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    3. Sade May 24, 2021 at 3:27 am Reply

      Bangura love reading your reports. Thank you and your teams. Sade in Lagos NIGERIA

      • New Africa Business News, Staff Correspondent May 24, 2021 at 3:34 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    4. Franky May 24, 2021 at 3:29 am Reply

      Love my subscription with your online newspaper’s daily newsletters. Berlin in Germany. Franky

      • New Africa Business News, Staff Correspondent May 24, 2021 at 3:34 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    5. Nana May 24, 2021 at 3:32 am Reply

      The free trade within our great Continent is lifting many from poverty. Nana in Kigali RWANDA

      • New Africa Business News, Staff Correspondent May 24, 2021 at 3:34 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

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