Individuals
Businesses
Company
Intelligence
News
African Capital Markets
EnglishEnglish

Investor Updates: April 1 2022 - Egyptian mobility startup SWVL debuts on Nasdaq

2 min Read April 1, 2022 at 1:10 PM UTC

Daba finance invest in Africa

Egyptian mobility startup SWVL debuts on Nasdaq

Highlights

  • Egypt founded and UAE-based mobility startup SWVL, on Thursday launched its initial public offering price on Nasdaq at $10 per share.
  • The company listed 20-30% of its shares, for trading at an expected value of $200-300 million, through a merger with the American company Queens Gambit Growth Capital with the purpose of acquisition.
  • SWVL currently operates in 16 countries and has acquired three startups to date. It plans to use the proceeds of the offering by fully injecting them within 18 months into the expected expansions.

Source: Wamda


Our Takeaway

Swvl’s listing is a landmark moment for Egyptian and Middle Eastern tech ecosystems. It is the first company launched from Africa and the second Middle Eastern company to list on the Nasdaq via a SPAC merger. Abu Dhabi-based music streaming platform Anghami did so in February, listing with Vistas Media Acquisition at a $220 million valuation. all eyes are on Swvl’s performance as it officially starts trading today.


Robo-advisory startup Xpovi raises $300,000 pre-seed round

Highlights

  • Egypt-based Robo-advisory startup Xpovi has launched after raising a $300,000 pre-seed round led by a group of angel investors.
  • Founded by Mostafa Hisham, Mohamed Marei, and Taher Seif, Xpovi offers automated and real-time business and financial planning services to startups.
  • The pre-Seed round has enabled the startup to grow its team and expedite the rollout of its website and app, where startups build their financial and business models after completing a simple questionnaire.

Source: Disrupt Africa

Our Takeaway

Most tech startups in Africa are focused on solving problems for end consumers although quite a few have emerged building enterprise solutions. Xpovi’s platform revolutionizes financial and business advisory, to enable planning, monitoring, and decision-making supported by data-driven recommendations. As Africa’s tech ecosystem matures, we expect to see startups building for such infrastructure pull more funding.


Rwanda launches Africa’s first 4IR Center

Highlights

  • The Ministry of Information Communication Technology and Innovation of Rwanda, in partnership with the World Economic Forum, launched the Centre for the Fourth Industrial Revolution (C4IR) in Rwanda.
  • These centers shape new policies and technology governance strategies to enable agility through a fast-growing network. Rwanda’s C4IR will be focused on data governance, artificial intelligence, and machine learning.
  • C4IR Rwanda is the first center in Africa and joins a network of 15 centers that spans four continents.

Source: The New Times

Our Takeaway

In Africa, Rwanda continues to be one of the fastest-growing countries when it comes to ICT development and there are several avenues for growth for the ICT sector – from e-commerce and e-services, and mobile technologies, to applications development and automation. In addition to the new C4IR, Paul Kagame’s government has over the years taken several initiatives to drive the country’s digital ambitions, including a recent partnership with Google.

This material has been presented for informational and educational purposes only. The views expressed in the articles above are generalized and may not be appropriate for all investors. The information contained in this article should not be construed as, and may not be used in connection with, an offer to sell, or a solicitation of an offer to buy or hold, an interest in any security or investment product. There is no guarantee that past performance will recur or result in a positive outcome. Carefully consider your financial situation, including investment objective, time horizon, risk tolerance, and fees prior to making any investment decisions. No level of diversification or asset allocation can ensure profits or guarantee against losses. Articles do not reflect the views of DABA ADVISORS LLC and do not provide investment advice to Daba’s clients. Daba is not engaged in rendering tax, legal or accounting advice. Please consult a qualified professional for this type of service.

Share this post
share on twittershare on linkedinshare on facebookshare to whatsapp
share on mail
share on instagram
Stay informed with our newsletters read by 25,000+ professionals worldwide
Newsletter companiesNewsletter companiesNewsletter companiesNewsletter companiesNewsletter companiesNewsletter companies

Next Frontier

Stay up to date on major news and events in African markets. Delivered weekly.

Pulse54

UDeep-dives into what’s old and new in Africa’s investment landscape. Delivered twice monthly.

Events

Sign up to stay informed about our regular webinars, product launches, and exhibitions.

+25k investors have already subscribed

Take action.

Download app

Start investing in Africa’s best opportunities, including stocks, bonds, startups, venture funds, and more.

Partner with us

Unlock exciting business opportunities and growth potential.

Join Daba

Become a part of our vibrant community and enjoy exclusive benefits.

Contact us

Reach out to us for inquiries, support, or collaboration.
For Investor
StrategiesPortfolio ManagementAfrican Capital MarketsNews
Daba Pro Intelligence
For Capital Seekers
For StartupsFor Fund ManagersFor Private CompaniesFor Lenders
For Partners
Commercial BanksBroker DealersAsset ManagersInvestment BanksInvestment Advisors and ConsultantsLenders and Microfinance
Company
About UsMarket UpdatesEventsBlog and PodcastNewsletterCase StudiesAffiliate ProgramInvesting GlossaryOfficial ContactsTrust, Compliance and SecurityFrequently Asked Questions

Terms & ConditionsPrivacy Policy
EnglishEnglish

Owned by Daba Markets Inc. By using this site, you accept our Terms and Conditions and Privacy Policy. © 2024 All rights reserved. 2025 All rights reserved