What's Hot

    Unlocking Nigeria’s maritime potential – NESG explores path to prosperity

    September 27, 2023

    Oman’s Duqm Refinery completes start-up

    September 25, 2023

    CYNK – Africa’s first verifiable carbon market launches in Kenya

    September 22, 2023
    Gulf Africa ReviewGulf Africa Review
    • Industry
    • Infrastructure
      1. Airport
      2. Hospitality
      3. Ports
      4. Power
      5. Rail
      6. Roads
      7. Transport
      Featured

      Osun seeks to capitalise on infrastructure momentum

      Infrastructure May 21, 2018
      Recent

      India reveals expansive rail and ports corridor for Middle East and South Asia

      September 13, 2023

      Green energy – UAE funds African projects through $4.5 billion initiative

      September 6, 2023

      West African ports benefit from international investment

      September 1, 2023
    • Business & Trade
      1. Agri-Business
      2. Entrepreneurship
      3. FDI
      4. Legislative
      5. MEA
      6. Telecoms
      7. Properties
      Featured

      Analysts predict bullish future for Nigeria’s REITs market

      Business Business & Trade January 21, 2018
      Recent

      Unlocking Nigeria’s maritime potential – NESG explores path to prosperity

      September 27, 2023

      CYNK – Africa’s first verifiable carbon market launches in Kenya

      September 22, 2023

      Ionic Rare Earths engages DRA Global to advance Makuutu Development

      September 20, 2023
    • Finance
      1. Banking
      2. Islamic finance
      Featured

      MENAT to see investment flows increase substantially

      Business Business & Trade Finance September 4, 2023
      Recent

      MENAT to see investment flows increase substantially

      September 4, 2023

      Ballim – GGC can play a major role in Africa

      July 17, 2023

      Africa50 invests USD 6.6bln in infrastructure over 6 years

      July 7, 2023
    • Innovation
    Gulf Africa ReviewGulf Africa Review
    FDI

    Modus and USAID launch Venture Builder to support Egyptian women and underserved populations

    November 23, 20222 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Modus
    Modus and USAID are seeking to improve financial inclusion for underserved communities.
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Modus and USAID will build and support startups driving digital inclusion for the country’s women and underserved populations.

    Modus Capital, a Venture Platform operating in Mena comprising VC funds, venture builders, and a corporate innovation arm, has partnered with the United States Agency for International Development (USAID), to launch MV Builder II – a Venture Builder in Egypt that will aim to build and support startups driving digital inclusion among the country’s women and underserved populations.

    Modus Capital: Supporting underserved communities

    MV Builder II will support Egyptian entrepreneurs by providing a range of operational and technical support to accelerate startups from the concept stage to a market-ready product until they are ready for institutional funding. While it is sector agnostic, MV Builder II will focus on startups boosting financial inclusion, digital literacy, access to equitable healthcare and education, and reducing Egypt’s digital gender divide.

    Partnership with USAID

    USAID has partnered with Modus under Digital Invest, a blended finance program that seeks to mobilize private capital for digital connectivity infrastructure and digital financial services that strengthen open, reliable, inclusive, and secure digital ecosystems in emerging markets. Digital Invest is an initiative under the Partnership for Global Infrastructure and Investment (PGII) and Digital Connectivity and Cybersecurity Partnership (DCCP). 

    The partnership will leverage USAID’s technical assistance and Modus’ market knowledge, investment track record, and experience in building scalable and successful mission-driven tech startups. 

    Simon Tkachenko, Partner at Modus said, “We’re excited to partner with a like-minded organization that is dedicated to transforming communities and countries to prosper and thrive. USAID’s support of Venture Building as a key driver for building impactful and sustainable businesses in the region, and their mission of addressing underserved populations in Egypt, is critical to the success of our partnership. We look forward to coming together with USAID and applying our internal know-how of building scalable companies in the Egyptian market to collectively create positive societal and economic changes in the country, and for its underserved individuals.” 

    High tech startups

    Earlier this month, Modus launched its USD 75 million Africa-focused VC fund to invest in impact-driven startups, powered by Blockchain and AI technologies. Graduates of MV Builder II will have the opportunity to gain investment from Modus’ Mena and Sub-Saharan Africa funds. 

    Last month, Modus acquired Agile Ventures, a Jeddah-based venture builder that was established in 2016 to develop digital platforms in Saudi Arabia.

    Egypt financial inclusion Modus Capital USAID venture building
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleSmartProf, a Moroccan startup, raises USD 110,000 in pre-seed funding
    Next Article South Africa announces new legislation to combat money laundering, terrorism financing

    Related Posts

    Agri commodities Agri-Business Business & Trade Commodities

    Ugandan agritech startup Emata secures USD 2.4 million in seed funding

    September 15, 2023
    Business Business & Trade Trade

    ECI and ADEX to boost international trade, technological advancement

    September 11, 2023
    Business Business & Trade Finance

    MENAT to see investment flows increase substantially

    September 4, 2023
    View 1 Comment

    1 Comment

    1. Pingback: Muqbis ‘the Etsy of MENA’ raises pre-Seed funds through Nama Ventures

    Leave A Reply Cancel Reply

    LATEST STORIES

    Unlocking Nigeria’s maritime potential – NESG explores path to prosperity

    September 27, 2023

    Oman’s Duqm Refinery completes start-up

    September 25, 2023

    CYNK – Africa’s first verifiable carbon market launches in Kenya

    September 22, 2023

    Ionic Rare Earths engages DRA Global to advance Makuutu Development

    September 20, 2023

    Turkey Exporters Assembly plans Saudi-Turkish trade summit

    September 18, 2023
    • Business
      • Agri-Business
      • Entrepreneurship
      • FDI
      • Legislative
      • MEA
      • Properties
      • Telecoms
    • Infrastructure
      • Airport
      • Hospitality
      • Ports
      • Power
      • Rail
      • Roads
      • Transport
    • Finance
      • Banking
      • Islamic finance
    • Commodities
      • Agri commodities
      • Metals & minerals
      • Precious metals
    • Culture & Society
      • Education
      • Energy
    GAR logo
    © GulfAfricaReview.com 2014-2022, All Rights Reserved.

    Gulf Africa Review is a trade news and future networking platform for businesses leaders and trade organisations, established to first inform and secondly assist in facilitating the ongoing business and trade relations between the Gulf Cooperation Council countries and Sub-Saharan Africa. We aim to provide an apolitical voice for this channel of economic activity in a way that benefits both geographies by improving the availability of information about market events, developments and opportunities, while publicising the successes achieved by this ever-broadening regional relationship.

      Subscribe to our newsletter

      Type above and press Enter to search. Press Esc to cancel.