More
    HomeEcosystem NewsEASTERN AFRICA$10M Daraja Impact Initiative Backs Tanzanian Health-Tech Dawa Mkononi in Inaugural Funding

    $10M Daraja Impact Initiative Backs Tanzanian Health-Tech Dawa Mkononi in Inaugural Funding

    Published on

    spot_img

    In a move towards fostering innovation and social impact in Tanzania, SEAF, a prominent global impact investing firm, has unveiled the inaugural recipient of its Daraja Impact initiative: Dar es Salaam-based health-tech company, Dawa Mkononi. The initiative, funded by the Swiss Agency for Development and Cooperation (“SDC”) through the Embassy of Switzerland in Tanzania and executed by SEAF in collaboration with the AlphaMundi Foundation, aims to catalyze inclusive growth and empowerment for women and youth over a five-year period.

    Dawa Mkononi, established in 2022, stands as a beacon of technological advancement in the pharmaceutical sector, leveraging data-driven solutions to streamline the distribution of essential medicines across Tanzania. By revolutionizing logistics and inventory management for health facilities and pharmacies, the company has been pivotal in enhancing access to healthcare for underserved communities, thereby elevating their quality of life.

    With an ambitious vision to extend its reach to over 3,500 health facilities and pharmacies by 2025, Dawa Mkononi is poised to amplify its impact with the infusion of funds from the Daraja Impact initiative. The investment will facilitate enhancements in operational efficiency and the implementation of robust impact monitoring systems, thereby fortifying the company’s commitment to driving positive change at scale.

    Joseph Paul Manda, Founder of Dawa Mkononi, expressed profound gratitude for the partnership, emphasizing its transformative potential in realizing the company’s mission of ensuring universal access to life-saving medications. “This collaboration not only validates our efforts but also accelerates our journey towards a future where every Tanzanian has immediate access to essential healthcare,” remarked Manda.

    Ezra Musoke, SEAF’s Managing Director for Tanzania, underscored the organization’s steadfast dedication to nurturing impactful SMEs that empower marginalized demographics. “Our collaboration with Dawa Mkononi exemplifies our unwavering commitment to fostering innovation and inclusivity in Tanzania,” Musoke affirmed, echoing SEAF’s role as a catalyst for sustainable development and economic empowerment.

    The Daraja Impact initiative, underpinned by a substantial investment of Sh26.4 billion ($10.2M), signals a watershed moment in Tanzania’s entrepreneurial landscape, offering a lifeline to impact-driven MSMEs striving to effect positive societal change. As SEAF continues its mission to empower communities through entrepreneurship and small business development, the initiative stands as a testament to the transformative power of strategic investments in driving lasting social and economic progress.

    Latest articles

    $500K Up for Grabs: Moroccan Diaspora’s MFounders Targets High-Potential Startups

    The club will focus on startups requiring initial funding between $50,000 and $500,000, addressing a critical need in the funding landscape for early-stage ventures.

    Nigerian Stocks Go Mobile: NGX Invest Opens Stock Market to Everyone

    The platform’s launch is timely, coinciding with the Central Bank of Nigeria’s (CBN) recapitalization directive, which has spurred numerous offers for subscription and rights announcements by Nigerian banks.

    South African Safetech Startup AURA Raises $1.1M Bridge Round to Democratize Safety

    The technology platform enables users to access the nearest vetted private security and medical response units through connected devices.

    Fuzé Investment Series: Togolese Media Startup Makifaa Secures Funding

    Founded in in 2023 by Doris DJAGLO and Jean Pignan, Makifaa’s unique approach blends the creative talents of local photographers with cutting-edge artificial intelligence (AI) to deliver personalized media solutions within an impressive 48-hour timeframe.

    More like this

    $500K Up for Grabs: Moroccan Diaspora’s MFounders Targets High-Potential Startups

    The club will focus on startups requiring initial funding between $50,000 and $500,000, addressing a critical need in the funding landscape for early-stage ventures.

    Nigerian Stocks Go Mobile: NGX Invest Opens Stock Market to Everyone

    The platform’s launch is timely, coinciding with the Central Bank of Nigeria’s (CBN) recapitalization directive, which has spurred numerous offers for subscription and rights announcements by Nigerian banks.

    South African Safetech Startup AURA Raises $1.1M Bridge Round to Democratize Safety

    The technology platform enables users to access the nearest vetted private security and medical response units through connected devices.