Hello Africa!!!!
We kick-off today’s Big 5 Daily with some good news in the continent.
EY’s latest Africa Attractiveness report has suggested that the Foreign Direct Investment into Africa has increased over the last year. The report hinted that South Africa ranks highest as the biggest FDI destination in Africa alongside Morocco, Kenya, Nigeria and Ethiopia, which make up to 40% of FDI coming into the continent. You can read report breakdown here.
Four African start-ups, two each from Ghana and Nigeria are expected to participate at the fifth cohort PeaceTech Accelerator in Washington DC. The four start-ups include: proptech Muster and Coven Works – both from Nigeria and also, Ghana’s Devless and Jetstream Africa.
Moving on, Nigeria’s Microtraction has announced an investment in Riby, a smart finance management platform. Microtraction’s founder, Yele Badamosi announced this on his twitter.
Healthtech start-up Réseau d’Échange entre Médecins d’Afrique (Rema) has won Seedstars Abidjan pitch event. Rema’s collaborative medicine service enables doctors in Africa to collaborate in real-time to make better decisions.
Egypt’s Competition Watchdog has warned Uber and Careem again against their intended merger. The authority has said that they could slam a fine of up to 500 million EGP ($28 million) per infringement on each relevant person involved in the deal.
… and that is all for today, see you tomorrow.