Ghana's Controversial $230 Million Traffic Light Project
Bamboo is in Ghana, a new grocery app launches in Accra, and Orange tests 5G in Cote D'Ivoire
What’s happened this Week:
Stock app Bamboo launches in Ghana
Grocery App NokNok launches in Accra
Yellow Card raises $40 million in Series B
Orange Africa sets up 5G lab to test Cote D’Ivoire
and more!
In 2012, Ghana’s government kickstarted the Accra Intelligence Traffic Light System (AITMS). The goal of the project was to remove the city’s traffic congestion and regular gridlock during peak traffic hours, while also lowering air pollution.
The project was to deploy street lights with solar-power backups on 200km of road to provide night-time safety and urban renewal, while 182 intelligent traffic signals will be installed and coordinated.
Initially awarded to a Chinese firm, the contract was controversially switched to Huawei with reasons by a member of parliament being that the initial Chinese firm had background “issues”
Read the story here to learn more details.
In The News This Week
Online Brokerage Firm Bamboo Officially Launches in Ghana
Bamboo, Africa’s leading online brokerage firm, has announced its official launch in Ghana. Bamboo is the first retail brokerage app to launch in the country and is offering Ghanaians easy access to U.S. stocks.
Grocery Delivery App NokNok Launches in Ghana To Enhance Grocery Shopping Experience
NokNok, a grocery delivery app with a base in Lebanon, has launched in Ghana to allow customers to order fresh and stock of grocery items and have them delivered to their doorsteps within minutes.
African Crypto Exchange Yellow Card Closes $40M Series B Led By Polychain Capital
Yellow Card Financial, the Pan-African cryptocurrency exchange, has announced the close of its $40M Series B funding.
Remedial Health Raises $4.4 Million in Seed Round
Remedial Health, a health tech startup that develops solutions to make Africa’s pharmaceutical value chain more efficient, has raised $4.4 million in seed funding to accelerate its expansion across Nigeria
Transportation Startup Treepz Launches Business Services; Piloting E-Bus Service In Accra
Treepz Ghana, a transportation platform startup launched its Business service last Friday in Accra as part of its 3-year anniversary. “Treepz Business” is a service that’s aimed at corporates, schools, churches, events, and tours
Orange Opens 5G Lab To Test 5G in Côte d’Ivoire
Orange Côte d’Ivoire has opened its Orange 5G Lab, devoted to digital professionals, start-ups, and businesses
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Africa Ecosystem Funding Activity
Janngo Capital announces $34m 1st close of $60m Africa-focused tech fund - Disrupt Africa
Ivorian fintech Julaya gets $5M to become banking partner for businesses in Francophone Africa - Techcrunch
Byld Ventures, a $15M fund, backs fintechs in Africa - Techcrunch
Egypt-based fintech investment platform Exits.me raises $1million in pre-seed round - Zawya
Fintech startup, Julaya, extends pre-Series A round by $5M USD as the company continues its mission across Francophone Africa - Techcrunch