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InstaDeep: The Tunisian AI Start-up Revolutionizing Decision-Making Systems

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InstaDeep, a Tunisian-born tech start-up, is gaining global recognition for its cutting-edge solutions that integrate artificial intelligence (AI) with decision-making processes for enterprises. Founded in 2014 by Karim Beguir and Zohra Slim, the company has grown rapidly and attracted major investments, partnerships, and customers from around the world. InstaDeep focuses on delivering AI-powered systems that assist businesses in optimizing complex decisions, offering solutions that can handle high-stakes, real-time situations in industries like transportation, logistics, finance, and healthcare.

Origins of InstaDeep

InstaDeep was founded in Tunis with a clear vision: to build AI systems that could help businesses make smarter decisions faster. Beguir, who studied mathematics and engineering in France, and Slim, a self-taught programmer, started the company from scratch. The Tunisian tech scene was still in its infancy when they launched, but their vision and determination to bring AI innovation to North Africa helped them quickly gain traction.

The company’s early days were focused on building AI models that could handle complex optimization tasks. By applying deep learning, reinforcement learning, and machine learning techniques, InstaDeep was able to develop systems that could analyze vast amounts of data, learn from it, and make high-quality decisions in real-time. This attracted the attention of international players looking for innovative AI solutions, propelling InstaDeep onto the global stage.

AI-Powered Decision-Making

The core mission of InstaDeep is to enhance decision-making processes in businesses by leveraging the power of AI. Their technology is designed to tackle the most difficult challenges that companies face when making complex decisions that involve multiple variables and constraints. The company’s solutions range from optimizing supply chains and transportation routes to creating AI-driven strategies for financial portfolios and healthcare diagnostics.

InstaDeep’s AI-powered systems are built to adapt and learn continuously, enabling companies to respond more effectively to changing conditions. For example, in the transportation and logistics industry, InstaDeep’s solutions can optimize fleet management by predicting the most efficient routes, reducing costs, and improving delivery times. In finance, the AI models help firms optimize investment strategies by analyzing large datasets and predicting market trends with a high degree of accuracy.

Partnerships and Global Expansion

InstaDeep’s reputation for innovation has led to key partnerships with some of the world’s largest technology companies. A significant milestone came in 2021 when Google DeepMind and BioNTech partnered with InstaDeep on groundbreaking AI projects. With DeepMind, InstaDeep worked on the application of AI to solve fundamental biological problems, while with BioNTech, they focused on using AI to improve mRNA vaccine design and optimization, particularly in the fight against diseases like COVID-19.

Additionally, InstaDeep has forged relationships with NVIDIA, Intel, and other global tech giants, leveraging their hardware and AI platforms to develop state-of-the-art solutions. The company’s expansion beyond North Africa includes the opening of offices in London, Paris, Lagos, Cape Town, and Dubai, enabling them to tap into key markets across Europe, Africa, and the Middle East.

Investments and Future Growth

InstaDeep has attracted significant attention from investors. In early 2022, the company raised $100 million in a Series B funding round, led by Alpha Intelligence Capital and BioNTech. This investment has enabled InstaDeep to accelerate its product development and expand its team of AI engineers, researchers, and data scientists.

With the additional funding, InstaDeep aims to broaden its focus on research and development, particularly in the fields of robotics, biotechnology, and smart infrastructure. The company is also exploring new applications for its AI technology, including autonomous systems and sustainable energy management.

Impact and Vision

As one of the first AI start-ups to emerge from North Africa, InstaDeep has not only made a name for itself globally but has also contributed to the growth of the tech ecosystem in Tunisia and beyond. By proving that world-class AI technology can be developed in regions outside traditional tech hubs, InstaDeep has inspired a new generation of African entrepreneurs.

InstaDeep’s vision for the future is ambitious. The company aims to become a global leader in enterprise AI solutions by continuing to push the boundaries of innovation. With its strong focus on ethical AI development and a mission to solve real-world problems, InstaDeep is poised to play a crucial role in shaping the future of AI-powered decision-making across multiple industries.

InstaDeep’s success is a testament to the potential of AI to transform industries and improve decision-making processes in meaningful ways. By developing AI systems that learn, adapt, and optimize in real time, the company is helping businesses around the world navigate an increasingly complex and data-driven environment. With its continued growth and innovation, InstaDeep is well-positioned to remain at the forefront of the AI revolution.

sources : yaluna.tn

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The Mauritius Emerging Technologies Council : Shaping the Future of Innovation

Comments (0) Business, Technology

In an era where technological advancements are reshaping economies and societies worldwide, the Mauritius Emerging Technologies Council (METC) has emerged as a pivotal force driving innovation on the island. Established to harness the potential of emerging technologies, the METC is committed to positioning Mauritius as a leader in the global tech landscape. This article explores the inception, objectives, initiatives, and future prospects of the METC, highlighting its significant impact on Mauritius and beyond.

The METC was founded with a clear vision: to foster a thriving ecosystem for emerging technologies in Mauritius. Recognizing the transformative power of technology, the government of Mauritius established the METC to guide the nation through the digital age. The council’s mission is to promote innovation, create conducive policies, build capacity, and facilitate collaborations that drive technological growth and socio-economic development.

Key Objectives

Promoting Innovation: The METC aims to create an environment that encourages the development and adoption of innovative technologies. By supporting startups and innovators, the council seeks to stimulate creativity and entrepreneurial spirit.

Policy Formulation: Crafting policies that support technological advancement while ensuring ethical standards and addressing societal concerns is a core objective of the METC.

Capacity Building: The council is dedicated to enhancing the skills and knowledge of the local workforce to meet the demands of a technology-driven economy. This includes education and training programs tailored to various demographics.

Collaboration and Partnership: The METC fosters collaborations between government, academia, industry, and international partners to drive technological progress and innovation.

Technology Incubators and Accelerators

One of the METC’s flagship initiatives is the establishment of technology incubators and accelerators. These platforms provide startups with the necessary resources, mentorship, and funding to bring their innovative ideas to life. By nurturing a vibrant startup ecosystem, the METC aims to make Mauritius a hub for technological innovation.

Recognizing the importance of R&D in technological advancement, the METC collaborates with universities and research institutions to support projects in areas such as artificial intelligence, blockchain, biotechnology, and renewable energy. These efforts not only drive innovation but also contribute to global knowledge and technological progress.

To ensure that the benefits of emerging technologies are accessible to all, the METC has launched numerous digital literacy and education programs. These initiatives aim to equip the population with the skills needed to thrive in a digital world, from coding workshops for students to professional development courses for adults.

Since its inception, the METC has made significant strides in transforming the technological landscape of Mauritius. Key achievements include: economic growth (The METC’s initiatives have attracted foreign investments and created high-value jobs, contributing to the economic growth of Mauritius and reducing dependency on traditional industries), Enhanced Global Competitiveness (by fostering innovation and supporting cutting-edge research, the METC has enhanced the global competitiveness of Mauritius, making it an attractive destination for tech companies and entrepreneurs).

The council’s focus on digital literacy and education has had a profound social impact, bridging the digital divide and ensuring that all segments of the population can benefit from the technological revolution.

Looking ahead, the METC is poised to explore new frontiers in technology. Key areas of focus include: Sustainable Technologies: Promoting green technologies and sustainable practices to address environmental challenges.Artificial Intelligence and Machine Learning: Advancing AI and ML applications across various sectors, including healthcare and finance. Cybersecurity: Strengthening cybersecurity measures to protect against the growing threat of cyber-attacks.

To Explore New Frontiers in Technology

The Mauritius Emerging Technologies Council is a testament to the transformative power of vision and collaboration. Through its comprehensive initiatives and unwavering commitment to innovation, the METC is not only shaping the future of Mauritius but also contributing to the global technological landscape. As it continues to drive progress, the METC exemplifies how strategic foresight and dedicated action can create a prosperous and technologically advanced society.

Photos : mauritiusemergingtech.com

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Progreen : Turning Waste Matter Into Energy

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Progreen Innovations stands at the forefront of environmental and energy solutions in Kenya, championing a revolutionary approach to waste management through its innovative waste-to-fuel technology. This pioneering company, based in Kenya, is reshaping the narrative around waste, transforming it from an environmental burden into a valuable resource for producing alternative fuels.

Founded with the vision of addressing two critical challenges—waste management and the energy crisis—Progreen Innovations embarked on its mission to develop sustainable and eco-friendly solutions. The company recognized the untapped potential of municipal and industrial waste, which traditionally ends up in landfills, contributing to pollution and greenhouse gas emissions. By converting this waste into fuel, Progreen Innovation not only aims to reduce the environmental footprint of waste but also to provide a renewable energy source that can mitigate reliance on fossil fuels.

The Waste-to-Fuel Process

The core of Progreen Innovations’s technology lies in its sophisticated waste-to-fuel conversion process. This process involves several stages, starting with the collection and sorting of waste materials. The waste is then subjected to a series of treatments, including drying, pyrolysis, and condensation, to break down the organic material into smaller molecules. The end products are fuels like biodiesel, ethanol, and other biofuels, which can be used in existing engines and infrastructure with minimal modifications.

One of the distinguishing aspects of Progreen’s technology is its efficiency and environmental friendliness. The process is designed to minimize emissions and energy consumption, making it a cleaner alternative to traditional fuel production methods. Moreover, it provides a solution to the problem of plastic waste by converting it into valuable fuel, thus addressing two environmental issues simultaneously.

To Diversify the Energy Mix in Kenya

The impact of Progreen’s work is multifaceted. Environmentally, it offers a sustainable way to manage waste, reducing landfill use and cutting down on greenhouse gas emissions. Economically, it contributes to the local economy by creating jobs in waste collection, processing, and fuel distribution. Furthermore, by producing alternative fuels, Progreen helps to diversify the energy mix in Kenya, enhancing energy security and reducing dependence on imported fuels.

Progreen has garnered recognition both locally and internationally for its innovative approach to waste management and energy production. Its achievements include partnerships with municipal governments for waste collection and processing, as well as collaborations with industries seeking sustainable energy solutions.

Future Prospects

Looking forward, Progreen is set to play a pivotal role in Kenya’s environmental and energy landscape. As the world increasingly focuses on sustainability and renewable energy, the demand for alternative fuels is expected to rise. Progreen is well-positioned to expand its operations and scale up its technology to meet this growing demand.

Moreover, the company is exploring new technologies and processes to enhance the efficiency and range of fuels produced from waste. By continuously innovating, Progreen aims to contribute to a circular economy, where waste is not seen as an end product but as a resource that can be continuously reused and recycled.

Progreen embodies the transformative potential of waste-to-fuel technology. Through its pioneering work, it is not only tackling environmental and energy challenges in Kenya but also setting a precedent for sustainable waste management practices worldwide. As Progreen Innovations continues to evolve and expand, its journey offers a hopeful vision of a world where waste is no longer a problem but part of the solution to our energy needs.

Photo : rfi.fr

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Leyja: The Latest Sustainable Tourism Destination in Saudi Arabia

Comments (0) Business, Environment, Featured

Leyja, NEOM’s latest sustainable tourism destination in Saudi Arabia, nestled between the Gulf of Aqaba coast and 400-meter-high mountains, exemplifies the kingdom’s commitment to a multifaceted, eco-friendly tourism industry under Vision 2030, offering three architecturally distinct hotels and curated experiences in a nature-reserve setting.

In a significant stride towards a more sustainable and diversified tourism industry, NEOM, Saudi Arabia’s futuristic super-city, has unveiled Leyja, its latest ecotourism destination.

Nestled along the Gulf of Aqaba coast and winding inland through a valley surrounded by 400-meter-high mountains, Leyja is a testament to Saudi Arabia’s commitment to sustainable development and its ambitious Vision 2030 initiative.

Where Is Leyja? 

Leyja is strategically positioned to unfold from the Gulf of Aqaba coast, creating a natural valley that carves through the impressive mountains of NEOM.

What sets Leyja apart is its dedication to preserving nature, with 95% of its expansive landscape designated as a nature reserve.

This aligns with NEOM’s overarching strategy to blend innovative ecological design with construction techniques that integrate seamlessly with the environment.

A Strategic Step in Saudi Arabia’s Commitment

Leyja represents a strategic step in Saudi Arabia’s commitment to diversifying its tourism destinations and boosting its economy. As part of the NEOM super-city, this $500 billion development aims to attract discerning travelers with its ultra-luxurious offerings, including high-end stores, helipads, and fine-dining restaurants helmed by celebrity chefs.

Led by renowned architects Mario Cucinella, Chris van Duijin, and Shaun Killa, Leyja’s architectural direction reflects a harmonious blend of luxury and sustainability. The development features three distinctive hotels, each offering a unique experience while staying true to its natural surroundings.

The “Adventure Hotel” (Chris Van Duijn) is a designed as a vertical structure with a deconstructed aesthetic resembling a cliffside staircase. It’s a hub for tourists seeking high-octane activities such as rock climbing. Its design minimizes impact on the natural terrain, allowing guests to engage with the rugged landscape

 

“Oasis Hotel” (designed by Mario Cucinella Architects) is emerging from the rocks with five facade fins, it serves as a gateway to exploration, offering panoramic views of the valley. The design mirrors the natural context, providing guests with an immersive experience that complements the breathtaking surroundings

The Wellness Hotel is a reflective retreat with two opposing volumes adorned with high-tech facades. This immersive wellness retreat complements Leyja’s commitment to holistic experiences, offering guests a serene escape amidst nature.

Experiences And Activities At Leyja

Leyja goes beyond traditional hospitality by curating refined experiences for visitors. Fine dining by world-renowned chefs, rooftop infinity-style pools, and wellness facilities are just a glimpse of what the destination has to offer.

For those seeking adventure, Leyja provides guided wadi walks, hiking trails, mountain biking, and climbing, allowing guests to immerse themselves in the dramatic mountain landscape.

Leyja stands as a beacon of sustainable luxury in the heart of Saudi Arabia’s mountains, inviting visitors to experience the beauty of nature without compromising on comfort. As the kingdom continues to invest in projects like Leyja, it not only aims to meet its tourism targets but also sets an example for environmentally conscious and innovative development on a global scale. With Leyja, NEOM is not just creating a destination; it’s crafting an ecological masterpiece that harmonizes with the natural wonders of Saudi Arabia.

Photos : zawya.com –

 

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Nollywood : the Nigeria’s burgeoning film industry

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Nollywood, Nigeria’s second-largest film industry, has risen from modest beginnings, revolutionizing storytelling and challenging societal norms, making a significant impact on the global film landscape.

Nollywood, Nigeria’s burgeoning film industry, has rapidly evolved into a global cinematic sensation over the last few decades. Emerging from modest beginnings in 1992, it now stands as one of the world’s most prosperous and influential film sectors, fundamentally reshaping our perceptions of movie production.

Originally rooted in Nigeria’s rich oral traditions, Nollywood draws from centuries of storytelling through song and dance. This deep-seated tradition can still be heavily observed through Nollywood films, where stories often interweave traditional music and dance, adding a unique cultural vibrancy to the industry.

From Humble Beginnings

Nollywood has come a long way since it took off in the early 1990s when trailblazers such as Kenneth Nnebue and Ola Balogun played pivotal roles in its birth. Kenneth Nnebue made history by producing Nigeria’s first feature film, “Living in Bondage” (1992), which immediately captivated audiences and set the stage for a new era in Nigerian cinema.

The film’s success inspired other aspiring filmmakers to enter the industry using video cameras and minimal budgets. These early productions were characterized by their resourcefulness, often filmed on location without the benefit of professional equipment or crews.

Fast-forward to the present, Nollywood has transformed into the second-largest film industry globally, second only to Bollywood in India. Every year, it produces over 2,000 movies and boasts an estimated revenue of $1.2 billion, establishing itself as one of the most prolific film industries worldwide.

Statistics On Nollywood Film Industry 

During the first quarter of 2023, Nollywood exhibited its unwavering productivity by delivering a total of 280 films according to Alhaji Adedayo Thomas, the Executive Director/CEO of the National Film and Video Censors Board (NFVCB).

This figure of 280 films actually represents a decrease compared to the 340 films produced in the fourth quarter of 2022, marking an 18 percent decline.

However, this slight dip does not diminish the ongoing significance of Nollywood in the larger context of Nigeria’s economy. Breaking down the production areas, the NFVCB reported that Lagos, as a prominent hub, took the lead with 106 movies.

Following closely was Nigeria’s federal capital, Abuja, contributing 99 films, while Onitsha added 32 to the cinematic landscape. Other cities, such as Abeokuta, Kano, and Benin, also played their part, albeit on a smaller scale.

Nollywood’s Strategy To Become An Empire

There are a couple of key features that helped make Nollywood into what it is today. First of all : the low production costs. The hallmark of Nollywood’s success lies in its ability to craft compelling narratives on limited budgets, often releasing these films directly to the video market instead of going through production companies and studios. Second : they are relatable! These films courageously confront the daily social issues and challenges that confront Nigerians, making them not just movies but mirrors reflecting the lives of millions. 

Also, Nollywood challenges time-honored values and beliefs, nudging individuals to view the world with fresh perspectives. Through their narratives, these films become catalysts for change, encouraging people to question, evolve, and aspire to a different reality.

Last but not least, Nollywood is an Ever-Growing Industry. The industry has, by employing over 200,000 individuals, made a substantial contribution to job creation. Moreover, Nollywood’s reach extends far beyond Nigeria’s borders, with its films captivating audiences in over 50 countries. This international appeal brings foreign investment, elevating the economic fortunes of Nigeria in a globalized world.

Obstacles Ahead For The Nollywood Film Industry

Despite its remarkable size and reach, the industry faces certain obstacles that warrant attention and innovative solutions. One of the most pressing challenges confronting Nollywood is the perennial need for increased funding.Nigerian films are typically produced on modest budgets, which can limit the production values and overall quality of the final product.

This budgetary constraint hinders Nollywood’s ability to compete on a global stage, where Hollywood blockbusters and other regional film industries often command significant financial resources for grand productions.

Rampant Piracy and Distribution Dilemma

Another formidable challenge that continues to plague Nollywood is piracy. Given the relatively low production costs of Nigerian films, they are particularly vulnerable to being illegally copied and distributed. Pirated copies frequently flood the market, and these unauthorized versions are sold on the streets at a fraction of their original price.

While the industry enjoys strong viewership within Africa, expanding its reach globally remains a complex endeavor. Getting Nigerian films into international movie theaters can be a time-consuming process, as many distributors prioritize established foreign films with proven track records of audience appeal.

How Nollywood Has Impacted The Globe

Nollywood’s impact on the film industry is undeniable. As the second-largest film industry globally, it has reshaped storytelling, challenged societal norms, and made substantial economic contributions.

Despite facing challenges, Nollywood’s influence continues to grow, highlighting the remarkable power of cinema to transcend borders and inspire change. It is a vibrant testament to the enduring and transformative impact of storytelling on a global scale.

photos : olorisupergal.com / miro.medium.com/

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Agricultural data is becoming big business in Africa

Comments (0) Business, Non classé

Africa can often be a continent of major contradictions, but perhaps especially when it comes to agriculture. The African Development Bank (ADB) released a recent report which stated that the continent contained an astounding 65% of the world’s uncultivated but arable land. Many areas also have an abundance of fresh water. The soil is extremely fertile, and the continent has around 300 days of sunshine every year. And when you look at the working population, in excess of 60% of people work in the agricultural sector in some capacity. 

Yet despite that potential, the continent as a whole continues to import much of its food ($64.5 billion in 2017) and many regions continue to suffer annual famines with around five million Africans dying every year from hunger and over a quarter of the population classified as “severely food insecure in 2016”.

To increase efficiency and productivity – and thus hopefully reduce hunger and reliance on imports – many African countries are now looking to data collection and analysis for solutions and creating a new demand and market by doing so. 

A lot of Challenges to Face

There are a number of challenges that Africa’s agricultural sector faces. As far as development of uncultivated land is concerned, many areas have poor or no transport links. There may be little in the way of communications, little credit to buy the machinery and seed stock needed to cultivate the land, issues with property rights, endemic corruption at local and national levels, a lack of access to technology, and various other issues. 

Many now see the use of data identifying the areas offering the most lucrative prospects as the way to move forward. Coupled with simpler smart phones to be used in situ, data scientists can analyse data from satellite imagery and records of climate and weather patterns to help focus on those initially promising areas. 

Another major problem that faces the sector, and also another that technology may offer a solution to, is that many African agricultural products are subject to the overuse of pesticides (or the use of banned pesticides). This means that they do not pass the stringent standards of target markets such as the European Union. 

Using Technology

Companies such as Acquahmeyer in Ghana are now using drones to monitor the health of crops so as to allow farmers to reduce their reliance on these pesticides. At $5 to 10 per acre, this is a growing data market across the continent. 

The ADB are also investing in data and data collection. As of 2018, they had launched a drone programme partnering with the Tunisian government and the city of Busan in South Korea. The programme will include training 32 young Tunisians on how to pilot drones and collect agricultural data. 

South African startup, Zindi, is another African company looking to harness data to improve agricultural yields. They use their platform to host competitions that brings together over 9,000 African data scientists to crunch numbers and data from satellite imagery and other sources to provide real solutions on – and in – the ground. 

But it is also about different data sets being harnessed to improve agriculture. In Nigeria, the government are undertaking a major registration programme to include its farmers on an electronic wallet system. This will allow the government to make grants and subsidy payments, share information on better farming practices, and help improve the continental supply chain. 

Monsanto Has Established Data Sharing Agreements: Good News for Africa?

Multinational conglomerate, Monsanto, has already established data sharing agreements with the American agricultural machinery producer, Agco. They also launched Climate FieldView in 2018, a tool specifically designed to collect and exploit agricultural data from across Africa. Given Monsanto’s track history, there are justifiable worries that while African NGOs seek to reduce hunger and poverty by increasing crop yields. 

Hopefully, the Pan-African efforts by various parties will continue to yield promising results.

Photos : blogs.worldbank.org / idss.mit.edu / agroinformatics.org

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MENA Seeing Rise In Startups By 24% in 2022

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Startups are roaring in the Middle East and North Africa (MENA) region. Compared to 2021, a rise of 24 percent was seen in investment value. Fueled by rapid growth, the United Arab Emirates and Saudi Arabia are seeing a new group of well-heeled investors. 

Top three markets by region

The top three markets in the region that dominated the venture capital scenery were the United Arab Emirates, Saudi Arabia and Egypt. Having the most investments, UAE took the lead with a total amount of $1.85 billion across 250 deals (a rise of 5 percent in investment value) followed by Saudi Arabia with $907 million raised across 153 deals (a 40 percent rise in investment value).   Even though Egypt ranked third place with $736 million, they secured the second-highest number of new deals totaling 180 (a staggering 70 percent rise compared to 2021).

This rise in investments and deals was felt in nearby countries such as Algeria, Bahrain, Palestine, Oman, Iraq, Qatar, Yemen, Sudan and Tunisia.  On the contrary, Kuwait, Lebanon and Morocco saw a downward trend in terms of deal value.  The Jordanian startups dropped by 76 percent compared to 2021.

Value of investments by sector

Attracting $1.1 billion in investment, almost double compared to 2021, the fintech sector remains the favorite within the startup world in Mena.  A rise in funding was seen in top sub-sectors such as neobanks, crowdfunding, open banking, and corporate and personal lending.  Not to mention the cleantech sector is following closely behind with a whopping 101 percent rise from 2021, thanks to Yellow Door Energy’s $400 million rise in October 2022.  Bringing in $362 million in funding, logistics was the third-highest funded sector.

Quarterly investment activity fluctuated over the course of last year.  Quarter one recorded $1.04 billion which then dropped down to $997 million in quarter two.  Quarter three saw a severe decline with only $696 million raised and only to rise again to $1.21 billion in quarter four.  

Value of investment by gender, education and experience

Women-founded startups only made up 1.3 percent of the $3.94 billion raised last year whilst startups co-founded by both men and women performed far better, attracting $3.7 billion of the total amount raised. A hefty 94 percent of the total amount was raised.

The women-led startups that did raise investment were largely based within the UAE and Egypt.  They focused mainly on the healtech, edtech and e-commerce sectors.  

With regards to educational background, last year 1,186 co-founders successfully raised investment.  Between them were 694 first-time founders, 312 second-time founders, 124 third-time founders, 39 fourth-time founders and 17 fifth-time founders.  

Over half of the VC-backed founders have a bachelor’s degree as their highest educational level coming in at 53 percent whilst 34 percent have a master’s degree and 4 percent have a Ph.D. The more educated founders tend to be women, a third of them have a bachelor’s degree, 10 percent have a Ph.D. and 20 percent have a master’s in business administration (MBA).  The MENA region has certainly never been short on talented entrepreneurs.

Fadi Ghandour, founder of Aramex and executive chairman of Wamba stated “Saudi and UAE and Egypt are the three markets of size and significance of government and private and institutional support. That is where the entrepreneurs are coming and where they are trying to solve the digitization of bricks and mortar companies.”

Photos : .wamda.com – arabnews.com

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Astral Aviation expands towards Abu Dhabi

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Astral Aviation has just signed a code-share agreement with fellow Kenyan cargo operator, Kenya Airways Cargo. It has also just signed a memorandum of understanding (MOU) with Etihad Cargo, and looks set to take advantage of the closer ties being sought by the two countries.

Astral Aviation, a cargo-only airline in Africa flying scheduled routes to 20 destinations across the continent, has just signed a code-share agreement with fellow Kenyan cargo operator, Kenya Airways Cargo. It has also just signed a memorandum of understanding (MOU) with Etihad Cargo to enhance cooperation between the two entities. With these partnerships, Astral Aviation hopes to increase trade between Africa and the Middle East. The announcements come off-the-backs of several other partnerships announced earlier in the year, including an agreement with Air Logistics Group, the world’s leading cargo sales and services agent, that would increase online booking capacity for the airline. As Astral Aviation has just celebrated 22 years in operation, we look back at its interesting history.

The humble beginnings of the company

Although Astral Aviation now flies regularly to 20 destinations across Africa, and delivers everything ranging from perishable goods, vaccines, mining equipment, up to humanitarian aid, it started in a very different, and much less secure position. Upon its foundation in November 2000, it was a simple charter airline operating wet-leased (where the aircraft owner will supply air crew members along with the aircraft) Russian-owned Antonov planes.

At the time, the company did not have the funds for Boeing or Airbus freighters, so Astral Aviation began operations with three Antonov AN-12 turboprop planes transporting UN food aid to Somalia, South Sudan and the Democratic Republic of the Congo. Eight years later, Astral Aviation was in a position to be able to renew its fleet, where it returned the aging Russian turboprops and instead dry-leased (where the aircraft is leased without crew) Douglas DC9 freighters. This fleet was then expanded with McDonnell-Douglas MD83s, and eventually with Africa’s first Boeing 767-200F.

Recently, Astral Aviation has made the news again by ordering the first Brazilian-made Embraer E190Fs in Africa. They join a long order list: two Boeing 767-300Fs, two Airbus A330-200Fs, four A330-300P2Fs, and four Boeing B777-300ERSFs. These aircraft will join the current fleet of 14 that includes four Fokker 50s – used for short landing strips in remote areas – and two Boeing 747-400Fs.

Covid-19 creates huge demand for cargo carriers 

Astral Aviation found itself extremely busy during the first fourth months of Covid-19, flying every single day. Originally this was perishables and pharmaceutical cargo, and then increasingly, masks, personal protective equipment, and PCR and rapid-testing equipment. Astral found itself delivering to 48 of the 54 African countries.

When the first vaccines arrived in 2021, Astral Aviation was ready to assist. In particular, a million doses of AstraZeneca, refused by the Kenyan Government due to the lower efficacy shown against the dominant variant in Kenya at the time, were re-distributed across 16 other countries on the continent. To date, Astral Aviation estimates they have delivered 59 million doses of Covid-19 vaccines across Africa.

As jet fuel prices soar, cargo operators face new pressures

In February 2022, Russia invaded Ukraine. The resulting backlash against Russia saw it ostracized from much of the international community and demand for its oil and gas exports fell, or were intentionally cut off. Fuel prices across the world rose quickly, with jet fuel right alongside.

Cargo airlines like Astral Aviation found themselves facing costs rising by as much as 35%, in part due to the older age of cargo aircraft compared to those operated by passenger airlines. For example, production of the Boeing 727-200Fs that Astral Aviation leases ended in 1984, and the aircraft is significantly less efficient than more modern planes. On top of this, cargo flights are typically unbalanced between outward and return journeys – a flight from Europe to Nairobi will be nearly full of high value-added products, but on the return trip Astral Aviation often has no choice but to fly a near-empty plane. Nonetheless, the airline has shown resilience and continued to operate.

Closer links to the Middle East could fuel growth for Astral Aviation

In October 2022, Kenya and the United Arab Emirates agreed to expedite trade agreements and investment opportunities between the two countries. Astral Aviation’s new code-share agreement with Kenya Airways Cargo and MOU with Etihad Cargo will mean Astral Aviation is likely to see more flights into Abu Dhabi, taking advantage of the closer ties being sought by the two countries.

Photos : aircargonews.net

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TotalEnergies becomes QatarEnergy’s first partner on the North Field South LNG project

Comments (0) Business, Featured

TotalEnergies, already heavily involved in the North Field East liquefied natural gas (LNG) project, has been chosen as the first international partner for the North Field South LNG project. Under the new agreement with QatarEnergy, TotalEnergies will gain a 9.375% stake in the North Field South project.

TotalEnergies takes second stake in the world’s largest LNG project

TotalEnergies, already a major partner of QatarEnergy and heavily involved in the North Field East liquefied natural gas (LNG) project, has now also been chosen as the first international partner for the North Field South LNG project. Expected to produce 16 million tonnes per year (Mt/y) of LNG, the North Field South project will, along with further development of the rest of the North Field project, increase Qatar’s LNG export capacity to 126 Mt/y. The offshore project will be developed via 50 oil wells that will feed 5 oil platforms, all of which are linked to the onshore processing plant by gas pipelines. Two liquefaction trains will also be installed as part of the project.

Extracting from the world’s largest LNG field

North Field South and North Field East combined make up Qatar’s North Field project, which it claims is the world’s largest LNG project in the world in terms of capacity. The field itself is a natural-gas condensate field located in the Persian Gulf, part of the South Pars/North Dome Gas-Condensate field that is shared between Iran and Qatar, holding around 51 trillion cubic meters of in-situ natural gas, plus around 50 billion barrels of natural gas condensates. The field is by far the world’s largest natural gas field, and the extremely high amount of resources present means that the area is incredibly geopolitically important.

Qatar is already the world’s largest LNG supplier, but nonetheless it aims to expand LNG production from the North Field, along with producing condensate, LPG, ethane, sulfur, and helium. LNG production from the new North Field South project is expected to start in 2025.

High tech, low-carbon

North Field South is aiming to use the highest standards of extraction to reduce the greenhouse gas emissions associated with the project. The processing plant will be connected to Qatar’s electricity grid, meaning it will be powered in-part by renewable energy, mostly from the 800MW Al Kharsaah solar plant and the QatarEnergy solar plant currently under construction. Along with this, native CO2 released during natural gas production will be captured and sequestered rather than lost to the atmosphere. A system to recover gas evaporated during shipment will also be implemented that is expected to reduce greenhouse gas emissions by nearly 1 million tonnes of CO2 equivalent annually.

TotalEnergies enjoys booming LNG prices

TotalEnergies, just like BP, Shell, Exxon Mobil, Chevron, and others in the gas sector, has had a windfall year, with oil and gas prices being pushed to record highs in the wake of Russia’s invasion of Ukraine. Due to Western sanctions on Russian exports, the destruction of the Nordstream pipeline, and public outcry of the invasion pushing nations to move away from Russian oil and gas, buyers in Europe scrambled to replace Russian imports, which caused prices to skyrocket. TotalEnergies sat in an enviable position with access to 20 million tonnes of regasification – roughly 15% of the total capacity available on the continent – and was able to leverage this by maximizing spot purchases and sales.

All of this fueled a year of record net profits for TotalEnergies – $36.2 billion in 2022 – and has led some to call it the ‘year of LNG’.

The company has since indicated it will double-down on the LNG business, aiming for it to make up 50% of its energy sales mix by the year 2030. CEO Patrick Pouyanné has even stated that it will be a “pillar of the company’s growth in the years ahead.”

Under the new agreement with QatarEnergy, TotalEnergies will gain a 9.375% stake in the North Field South project, with QatarEnergy holding 75%. The remaining 15.625% will be available to other international partners. Pouyanné has said that, “we are very proud and honored that Qatar has once again chosen TotalEnergies as its first partner on the North Field South project…We see Qatar as a long-term strategic country for TotalEnergies and this new addition of capacity to our portfolio marks an important step towards achieving TotalEnergies’ growth objectives in low-carbon LNG, a key pillar of our transformation into a sustainable multi-energy company. It will also enhance our ability, alongside Qatar, to contribute to Europe’s energy security. “

Photos : offshorewind.biz and splash247.com

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Growing Africa’s Tech Startup Sector

Comments (0) Business, Featured

Africa is home to a rapidly-growing tech startup scene. From 2015 to 2020, the number of African startups receiving financial backing stood at over 6 times the global average. Thanks to hosting the world’s largest free trading area and a young, growing population that makes use of new technology like e-banking and mobile phones to leapfrog traditional development pathways, the tech startup sector grew by about 46% a year. For the continent to truly become a launch pad for innovation and for the tech sector to maintain its stunning growth trajectory, it will need some help.

An increasingly attractive continent for investors

For any startup, obtaining early-stage funding is crucial, and entrepreneurs often seek external investment to raise this. Historically, venture capital on the continent has been limited, however this is changing. In 2014, only 70 venture capital deals were recorded in Africa, while by 2020 this had risen to over 300, with around a third of investors from the United States. This growth in investments has led to the rise of new unicorns – privately-held companies valued at over $1 billion – with four companies holding the status in 2021.

In addition, the continent is an easy place to start a company, with one of the highest entrepreneurial rates globally. This is not unusual – developing economies often have high numbers of startups driven by a lack of employment – but the increasing prevalence and the sinking cost of mobile phone technology has meant Africa is increasingly digitized. This has motivated entrepreneurs, especially in the technology sector, to innovate to match the continent’s needs. From this, a wave of investment followed: In 2015 only $190 million was invested into startups in Africa, but by 2021 it had gone up to $2 billion. South Africa, Nigeria, and Kenya were the most favorable African countries for startups in the last year, hosting high numbers of companies, good co-working spaces, and a generally robust economic system.

A growing sector, but one that is still far behind

It is easy to conclude that the continent is already a hotbed for tech startups, especially as economic forecasts predict a record year for tech in Africa in 2022, with the possibility of total investments into startups reaching more than $7 billion. But while there is more money flowing into more companies than ever before, Africa’s record of scaling up these companies or even sustaining them, is poor.

There are only 4 unicorns on the entire continent, compared to over 50 in the EU, over 100 in China, and over 200 in the United States. Even for lower-value companies, such as African ‘Zebras’ valued at $200 million, numbers are slim. There are only 20 zebras across Africa, as most startups only make it to the series B funding stage. In fact, the returns on venture capital investments in Africa are less than 3% over 5 years on average, compared to 11% in Asia-Pacific and 16% in Europe.

A challenging place to grow a startup

Startups struggle in Africa for several key reasons:

  • Despite the free-trade area, the market is very fragmented
  • Consumer purchasing power is low
  • Data communication infrastructure is inadequate for the number of people it serves
  • Digital talent is scarce
  • Regulations across the 54 countries are varied, inconsistent, and often-times complex

On top of this, key sectors, especially business-to-consumer ones such as financial services and energy are often controlled by state monopolies that use their market power to prevent new companies from challenging the status quo, rather than advancing the national interest or providing a level playing field.

This leads to an inhospitable startup environment that in turn stops job creation and economic development, and threatens the entire startup sector by preventing innovative products from reaching the market.

The outlook for the future

Africa has all the pieces needed to become one of the most innovative regions in the world: high entrepreneurship, a large free-trade area, and a young and growing population that adopt new technology quickly. To see continued growth in the sector, African governments need to build and deploy a digital economic policy that encourages investment, improves the business environment through clearer regulation, and creates support networks for startups, as well as expand the continent’s digital infrastructure. Not only does this lead to short-term startup growth, but it stops the biggest companies from growing dependent on the world’s leading technology players, making the continent more self-sufficient in the longer term.

Sources : cioafrica.co and visualcapitalist.com

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