African incubator MEST has a new MD and 11 fresh startup investments
Pan-African incubator MEST announced investments in 11 startups from its 2019 cohort that will each receive $100,000 in financing.
The $1.1 million backing for a graduating class is the largest to date for the Accra-based organization — which operates as a training program and seed fund for African innovators to build successful commercial tech companies.
This year’s investment recipients come from four countries: Nigeria, Kenya, Ghana and South Africa. The startups offer goods and services across diverse sectors, from agtech to fintech to beauty and entertainment (see full list below).
Ghanaian fintech startup Bezo Money will use the funding from MEST to launch its app aimed at formalizing and digitizing West Africa’s traditional savings groups, founder Mubarak Sumaila told TechCrunch on a call from MEST’s Accra offices.
MEST 2019 cohort graduate and investment recipient Zuri has created a platform to organize, review and connect beauty services and professionals to clients online. “The global beauty services industry is worth over $100 billion and the African market is worth over $30 billion,”
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