Connect with us

News

Maad Secures $3.2 Million Funding to Revolutionize B2B E-commerce in Western Africa

Published

on

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.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Extra

Diaspora Watch – Vol. 98

Published

on

Diaspora Watch Newspaper is pleased to announce the release of its 98th edition, presenting readers with another rich blend of impactful stories, insightful analyses and inspiring human-interest features from across the world.

Leading this edition is the heartwarming cover story, “Godchildren Honour Emmanuel and Joy Ojiribe at 40th Anniversary Celebration in US,” which chronicles the remarkable legacy of love, faith, mentorship and family built over four decades by the celebrated couple, culminating in a memorable celebration attended by loved ones and admirers.

Diaspora Watch FREE Digital View: https://diasporawatch.com/3d-flip-book/diaspora-watch-vol-98/

On Demand Print: https://www.magcloud.com/browse/issue/3359332?__r=1069759

SUBSCRIBE TO DIASPORA WATCH NOW ON THE LINK BELOW!!!
https://diasporawatch.com/subscribe-to-diaspora-watch-newspaper/

 

The edition also brings readers up to speed on major international developments, including US President Donald Trump’s announcement of an Intel-Apple chip deal, Ghana’s move towards a local takeover of Gold Fields’ Tarkwa mine, CARICOM’s renewed commitment to improving citizens’ lives under incoming Chair Pierre, the possibility of cocoa prices rising above $10,000 per tonne once again, a comprehensive 14-Point Roadmap to De-escalation and Reconstruction, Singapore’s impressive 38.4 per cent growth in non-oil exports driven by artificial intelligence, and warnings from Kew scientists that AI and digitalization could play a crucial role in preventing global plant extinction.

On the back page, readers will find the inspiring story of Adenugba, who has been honored with the African Diaspora Fashion Platform Award, recognizing excellence, creativity and outstanding contributions to fashion within the global African diaspora community.

As always, Diaspora Watch Newspaper remains committed to delivering credible journalism, promoting African excellence, strengthening diaspora engagement and providing readers with balanced perspectives on global affairs, business, innovation and development.

The 98th edition is now available to readers across print and digital platforms. We invite everyone to pick up a copy and stay informed on the stories shaping Africa, the diaspora and the wider world.

Continue Reading

News

SpaceX to join Nasdaq-100 index July 7

Published

on

Chamber Of Progress Urges Elon Musk To Take X Leadership Seriously Or Resign Amid Social Media-Fueled Violence

SpaceX to join Nasdaq-100 index July 7

 

SpaceX will be added to the Nasdaq-100 Index on July 7, following confirmation by exchange operator Nasdaq, a move expected to trigger a surge in passive investment into the aerospace and artificial intelligence company.

 

The inclusion means exchange-traded funds and other investment vehicles that track the tech-heavy Nasdaq-100 Index will be required to purchase SpaceX shares, a development that typically boosts demand and supports a company’s stock price.

 

SpaceX, founded by billionaire entrepreneur Elon Musk, made its Nasdaq debut on June 12 and has experienced volatile financial performance in recent years, alternating between periods of losses and modest profits.

 

The company reported a net loss of $4.9bn in its most recent financial year, underscoring the challenges it continues to face despite strong investor interest in its space technology and artificial intelligence businesses.

 

The company’s addition to the index comes after Nasdaq, alongside other major index providers including FTSE Russell and MSCI, eased some of its listing eligibility requirements in an effort to attract more companies seeking to list on U.S. exchanges.

 

The revised criteria include changes to profitability requirements, the waiting period after a company’s initial public offering and the number of publicly traded shares required for inclusion in certain indices.

 

Meanwhile, S&P Global has maintained a more cautious approach.

 

The index provider said earlier this month that it would not alter its eligibility requirements for SpaceX to join its flagship indices, including the benchmark S&P 500.

 

According to S&P Global, the company will not be considered for inclusion in the S&P 500 until it has been publicly listed for at least 12 months.

 

The development comes as other leading artificial intelligence firms, including OpenAI and Anthropic, are widely expected to pursue initial public offerings either later this year or in 2027, with analysts projecting valuations exceeding $1tn.

Continue Reading

News

Uzodimma Backs FLAC, Urges Nigerians to Unite Against Cancer 

Published

on

Uzodimma Backs FLAC, Urges Nigerians to Unite Against Cancer 

 

Governor Hope Uzodimma of Imo State has reaffirmed his administration’s commitment to supporting the First Ladies Against Cancer, FLAC Nigeria, while calling on Nigerians to join efforts to combat cancer through increased awareness, early detection and sustained advocacy.

 

The governor made the pledge during a courtesy visit by members of FLAC and later at a gala night organised in their honour at the Government House in Owerri.

 

Speaking at the event, Uzodimma commended the organisation for its humanitarian interventions and contributions to improving cancer prevention, treatment and care across the country.

 

“I am excited to host you in Imo State and I commend your humanitarian services in Nigeria,” the governor said, assuring the delegation of his administration’s continued support for the organisation’s programmes.

 

He described Imo as the hospitality capital of the South-East and welcomed the delegates on behalf of the state government and people, assuring them of their safety during their stay.

 

The event also featured emotional testimonies from cancer survivors, including men, women and children, who recounted their experiences with the disease while encouraging Nigerians to embrace early screening and treatment.

 

Addressing guests at the gala night, Uzodimma stressed that the fight against cancer requires collective action, public education and efforts to eliminate the stigma associated with the disease.

 

He also lauded the President Bola Tinubu-led Federal Government for its investments in cancer prevention, treatment and palliative care, urging Nigerians to support ongoing reforms in the health sector.

 

“We need a new Nigeria where everyone participates in nation-building,” the governor said, adding that early detection remains critical to improving survival rates among cancer patients.

 

Earlier, the Chairperson of FLAC Nigeria and wife of the Imo State Governor, Mrs Chioma Uzodimma, said the delegation visited to appreciate the governor for his consistent support for the organisation’s advocacy and activities.

 

She explained that FLAC, whose membership comprises serving and former first ladies across the country, marks Cancer Survivors Month every June to celebrate survivors, inspire hope and raise awareness about the disease.

 

She described the governor as “a special friend of FLAC” and presented him with an award on behalf of the organisation in recognition of his support for its mission.

 

The gala night featured musical performances, a fashion parade by cancer survivors, comedy, cake cutting, presentation of gifts to survivors and a fundraising session to support the organisation’s advocacy programmes.

 

Mrs Uzodimma disclosed that more than N100m was raised during the fundraising to support FLAC’s ongoing cancer awareness and advocacy initiatives.

 

The delegation included the wives of the governors of Adamawa, Zamfara and Ogun states, Hajia Lami Fintiri, Hajia Huriyya Lawal and Mrs Bamidele Abiodun; immediate past FLAC Chairperson, Dr Zainab Shinkafi-Bagudu; former First Lady of Niger State, Dr Amina Abubakar; and former First Lady of Oyo State and ambassador-designate, Dr Florence Ajumobi, among other dignitaries.

Continue Reading

Trending