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    Ecosystem News

    Silent Exit: Egyptian Fintech Cassbana Shuttered Operations After Losing $2M Funding

    Co-founders Mohamed Tarek and Mostafa Barakat have since left the company to pursue other endeavors, and Cassbana’s website is no longer active.
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    Ecosystem News

    Egypt’s Banque Misr Invests $114 Million in Newly Licensed Digital Bank OneBank

    The Central Bank of Egypt granted initial approval for OneBank in May, marking the completion of the first phase of the rigorous licensing process, which includes three stages.
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    Venture Capital & Funding Sources

    GO LIVE FUND Secures $4.8 Million Backing from ANAVA, Targets Tunisian ‘Pain Killer’ Startups

    The GO LIVE FUND, an €8 million ($8.6M) fund with a first closing at €6 million ($6.6M), aims to support 36 B2B startups in their initial development phase.
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    NORTHERN AFRICA

    Fuzé Investment Series: Tunisian Precision Farming Startup Seabex Joins the List

    “We are very proud to have Digital Africa by our side as we embark on our expansion plans in Africa,” said Amira Cheniour, Co-Founder and General Manager of Seabex.
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    Middle East Conflict Forces Egypt’s Financial Sector into Remote Work as Petroleum Bill Hits $2.5bn

    Here is a breakdown of the policy, the economic conditions driving it, and how it will affect businesses on the ground.
    Ecosystem News

    Novastar Closes $147m Africa Climate Fund as Japanese Corporates Pile Into VC

    The composition of Novastar's Limited Partners (LPs) for NVIII highlights an evolving trend in African VC.

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    Egypt’s Telda Abandons the Unbanked to Chase Egypt’s Consumer Credit Boom

    Startup backed by Sequoia Capital abandons original focus on the unbanked to build a vertically integrated financial group.
    Partner Content

    Moniepoint Rides Wave of Nigerian Fintech Consolidation as Venture Funding Retreats

    While Orda currently operates in Nigeria and Kenya, this acquisition only covers its Nigerian operations, leaving the future of its Kenyan arm undecided.

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    Updates

    Middle East Conflict Forces Egypt’s Financial Sector into Remote Work as Petroleum Bill Hits $2.5bn

    Here is a breakdown of the policy, the economic conditions driving it, and how it will affect businesses on the ground.
    Ecosystem News

    Novastar Closes $147m Africa Climate Fund as Japanese Corporates Pile Into VC

    The composition of Novastar's Limited Partners (LPs) for NVIII highlights an evolving trend in African VC.
    Updates

    Egypt Salvages Startup Accelerator After USAID Collapse

    ITIDA stepped in to fund a programme that lost its US development finance backing, as 61 startups from Upper Egypt collectively attracted EGP 200 million in investment
    Ecosystem News

    Breega Nets $8.5m From AfDB as Development Bank Ramps Up VC Appetite

    Both recent AfDB commitments were structured as first-loss tranches via the European Commission’s Boost Africa programme—a blended finance move designed to shield private capital from initial losses.

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