AfricaWorks Insights
AfricaWorks Insights
February 17, 2025 at 02:32 PM
The African Continental Free Trade Agreement (AfCFTA) presents South African 🇿🇦 businesses with vast opportunities to expand into a single market of over 1.3 billion people. At a Mpumalanga workshop, dtic’s Calvin Phume highlighted its role in removing trade barriers and boosting intra-African trade 📈. He urged businesses to research markets, set realistic goals, and partner locally to navigate challenges and maximize growth 🤝.  Cassava Technologies appoints new leadership to strengthen its innovation, digital expansion, and competitiveness across Africa 🌍, the Middle East, and beyond. Key appointments include Ahmed El Beheiry as COO & Chief AI Officer, Deon Geyser as CEO of Liquid Networks, and Ziaad Suleman as CEO of Cassava South Africa 🇿🇦. President & Group CEO Hardy Pemhiwa highlighted that these changes will drive growth and enhance Cassava's global presence 📈. Qme, an Egyptian 🇪🇬 AI-driven SaaS startup, raised $3 million in seed funding led by AHOY and GCC angel investors 🚀. The platform improves queuing and appointment booking in the MENA region, reducing no-show rates and paper waste. With over 100,000 customers, Qme has cut waiting times from 116 to 14 minutes. The funding will help enhance its technology and expand operations, while the partnership with AHOY aims to optimize customer experiences across the GCC and Africa 🤝. The European Investment Bank (EIB) invested EUR15 million in the IPAE 3 fund by Investisseurs & Partenaires (I&P), supporting high-growth businesses in sectors like agriculture, health, and energy across Africa 🌍. The fund aims to create over 4,000 jobs, 40% for women, and attract additional investors 🎯. This partnership strengthens economic inclusion and addresses financing challenges in West Africa and Madagascar 🇲🇬.
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