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Maad Secures $3.2 Million Funding to Revolutionize B2B E-commerce in Western Africa
Maad, a rapidly growing B2B e-commerce startup based in Senegal, has announced that it has secured $3.2 million in debt-equity funding from a consortium of investors led by prominent venture capital firms, CDC Group and Proparco, and angel investors. The funding, which was finalized on June 1, 2023, aims to support Maad’s expansion plans across Western Africa. Maad’s platform connects suppliers with businesses, offering a wide range of products, including food, beverages, personal care items, and more. Since its inception in 2020, the startup has made significant strides in Senegal and neighboring countries, with its user base growing exponentially.
The fresh funding will enable Maad to enhance its logistics and technology infra- structure, expand its product offerings, and strengthen its presence in the region. “This investment is a testament to our commitment to revolutionize the B2B e-commerce space in Western Africa,” said Amadou Ba, CEO of Maad. “We’re poised to make a significant impact on the region’s economy by empowering businesses and entrepreneurs.” Maad’s platform has already made a significant impact on the region’s economy by providing businesses with access to a wide range of products, improving supply chain efficiency, and reducing costs. With this funding, Maad plans to expand its operations to other countries in Western Africa, including Nigeria, Ghana, and Côte d’Ivoire. The funding is a significant milestone for Maad, which has been gaining traction in the region’s e-commerce landscape. “We’re thrilled to support Maad’s growth plans,” said CDC Group’s Investment Director, Fatoumata Camara. “Their innovative approach to B2B e-commerce has the potential to trans- form the way businesses operate in Western Africa.” Maad’s success has also attracted the attention of angel investors, who see huge
potential in the startup’s business model. “Maad’s platform has the potential to disrupt the traditional supply chain model in West- ern Africa,” said angel investor, Dr. Abdoulaye Djire. “I’m excited to be part of this journey.” With this funding, Maad is well-positioned to capitalize on the growing demand for e-commerce solutions in Western Africa. The startup’s expansion plans are expected to create jobs, improve economic opportunities, and contribute to the region’s economic growth. In conclusion, Maad’s $3.2 million funding is a significant milestone for the startup and the region’s e-commerce landscape. As Maad continues to innovate and expand, it’s clear that the future of B2B e-commerce in Western Africa looks bright.
Late Afrobeat Pioneer, Fela Earns Historic Global Recognition.
Late Afrobeat pioneer, Fela Anikulapo-Kuti, has been inducted into the prestigious Rock & Roll Hall of Fame, becoming the first Nigerian artist to receive the honor.
Naija News reports that the announcement marks another major global recognition for the iconic musician, decades after his passing.
Fela was inducted under the “Early Influence” category, alongside renowned global music figures such as Queen Latifah, Celia Cruz, MC Lyte, and Gram Parsons.
The list of inductees was unveiled in the United States during a live broadcast of the popular television show, American Idol.
Also recognized is Nigerian-born British singer, Sade Adu, who will be inducted in the “Performer” category.
She joins a lineup of global stars including Phil Collins, Billy Idol, Iron Maiden, Joy Division/New Order, Oasis, Luther Vandross, and Wu-Tang Clan.
Despite stiff competition, several high-profile nominees failed to make the final list. These include Shakira, Mariah Carey, Lauryn Hill, New Edition, and Pink.
Organizers disclosed that over 1,200 artists, historians, and music industry professionals participated in the voting process.
The induction ceremony is scheduled to take place on November 14 at the Peacock Theatre in Los Angeles.
Fela’s latest recognition comes just months after he made history in January as the first African musician to receive the Grammy Lifetime Achievement Award.
The honor, coming nearly 30 years after his death, further cements his legacy as a global music icon and pioneer of Afrobeat.
It also follows the introduction of the Best African Performance category at the Grammy Awards two years ago, reflecting growing global recognition for African music.
Rihanna to Receive Edison Achievement Award for “Reshaping the World Through Innovation”
The Edison Achievement Awards ceremony will take place in Fort Myers, Florida on April 16. However, Rihanna won’t be making the trek as she is confirmed to accept virtually.
Rihanna is being singled out for her innovative skills.
The superstar singer and entrepreneur has been selected to receive an Edison Achievement Award, an honor doled out to recognize “individuals who are reshaping industries and the world through innovation.” The award is presented each year to groundbreakers “whose extraordinary contributions transcend expectations advancing human-centered design, accelerating meaningful change and redefining what’s possible within their fields.” Winners are plucked by a steering committee that zeroes in on recipients based on biography, impact and visionary practices.
The award ceremony will take place in Fort Myers, Florida on April 16. However, Rihanna won’t be making the trek as she is confirmed to accept virtually. Also set to be honored that night will be National Basketball Association commissioner Adam Silver.
“Rihanna has consistently pushed boundaries across music, beauty, fashion and philanthropy while setting new standards for creativity, inclusivity, and global influence,” said Frank Bonafilia, Edison Awards executive director. “She embodies the spirit of Thomas Edison, by using inclusive innovation as a catalyst for progress. We are honored to recognize her with this year’s award.”
In announcing the news, the Edison team cited Rihanna’s achievements in transforming the beauty industry with the launch of Fenty Beauty, hailed for its inclusive standards with the range of products, and building on that foundation and vision with an expansion that includes Fenty Skin, Fenty Hair and Savage X Fenty fashion line. In addition to her accomplishments in music, she also founded the Clara Lionel Foundation to give back.
Australia Gets Its First Female Army Chief, Susan Coyle.
Susan Coyle, currently chief of joint capabilities, is the first woman to be appointed head of any of the services in the Australian military.
Australia will get its first female chief of army, with the appointment of Lieutenant General Susan Coyle to the post. Coyle, currently chief of joint capabilities, is the first woman to be appointed head of any of the services in the Australian military.
Prime Minister Anthony Albanese announced the appointments of new military chiefs on Monday, ahead of the government unveiling its 2026 statement on defense strategy and investment later this week. The appointments commence in July.
The current Navy Chief, Vice Admiral Mark Hammond, will become the new Chief of the Defence Force, replacing Admiral David Johnston.
Hammond has commanded submarines and the Australian fleet. He has been the Chief of the Navy since 2022. As the second naval officer in a row to serve as chief of the Australian Defence Force (ADF), his expertise is particularly relevant as Australia deals with the AUKUS agreement.
Coyle, who enlisted in the Army Reserves in 1987, has worked at the tactical, operational and strategic levels and in command roles. These include the commander of the Task Group Afghanistan and the commanding officer of the 17th Signal Regiment. She replaces Lieutenant General Stuart as Army Chief.
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