Innovex in Uganda, a specialist in data processing and monitoring of solar energy systems, has concluded a financing deal with four Belgian entrepreneurs. Entrepreneurs for Entrepreneurs (OVO) facilitated the agreement.
The three winners of the Sustainable Technology for Africa event have been announced. MNB won the panel over and walked away with the main spoils. The start-up wants to drive down the import of mushrooms into Rwanda by getting local coffee farmers to grow them using coffee waste as fertilizer. “This will give farmers an income throughout the year and it will complete the coffee cycle.”
In addition to its NGO and B2B models, Entrepreneurs for Entrepreneurs has now launched an investment fund too. The organization is currently engaged in negotiations with the King Baudouin Foundation to host the fund.
The Ugandan company Akaboxi can continue its project thanks to the support of OVO. Akaboxi has developed a handy digital system that tracks the individual savings of local farmers and organisations. Financing has been secured thanks to the contribution of Close The Gap and the OVO Acceleration Fund.