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While challenges to adoption still exist, both in terms of customer preferences and inefficiencies in the market, e-commerce is beginning to generate traction both because of necessity and the presence of enabling technologies.
South African based business accelerator Grindstone has launched a new venture capital fund, Grindstone Ventures, dedicated to provide early-stage equity funding to its cohorts of companies and alumni.
Nigerian transport startup, Plentywaka, has secured a pre-seed investment of $300,000 and will also launch into Abuja. The startup aims to transform transport in Nigeria to provide safe, convenient, and comfortable travel for all.
Asset management company, Futuregrowth, has invested an undisclosed amount of venture capital funds into South Africa's SweepSouth.
With Africa’s offline retail market estimated at $1 Trillion, Nigerian startup, TradeDepot, plans to use the investment it received to expand into other African cities and launch a suite of financial products and credit facilities to support its retailers.