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Daystar Power raises $4m from SunFunder for rapid buildout in Nigeria

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Daystar Power, a commercial and industrial (C&I) solar developer,  has raised $4 million from SundFunder to provide solar power and energy efficiency solutions for businesses in the commercial, industrial, and agricultural sectors in Nigeria.

Daystar Power says the funding will result in significant reduction of power costs, diesel consumption and pollution in Nigeria.

SunFunder, a solar finance company providing debt capital to solar enterprises in emerging markets, invests up to 3MWp of C&I projects for clients including top tier financial institutions and other small and medium-sized enterprises will mitigate 102,410 tons of CO2 emissions annually.

According to Rim Azirar, Investment Officer at SunFunder, “We are delighted to support Daystar’s growth with a project finance-like structure that can support the company’s strategy for rapid buildout in Nigeria, through their highly scalable business model.” 

Daystar’s mission is to provide an African sustainable energy solution that results in a minimum 20 % reduction in energy costs and 50% reduction in diesel consumption for end users.

According to a recent study by Bloomberg New Energy Finance, Nigeria has the largest potential for C&I solar in Africa because of the scale of the opportunity for diesel replacement. Daystar is a pioneer in the market, offering end-users increased reliability as well as lower energy costs through solar and storage systems.

Christian Wessels, co-founder and executive of Daystar Power, comments: “We are happy to partner with SunFunder in our mission to bring clean, continuous and affordable power to West African businesses in support of their growth and environmental goals. The support of SunFunder enables the beginning of a new phase of accelerated growth for our company.”

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In October, Daystar Power announced it had installed its 100th solar energy system in Nigeria since it was founded in 2017. In May the same year, it raised EUR 500,000 via Trine for captive power installations in Togo & Senegal. The amount was a debt round raised via crowdfunding site Trine, a Swedish investment platform to finance solar power systems.

In April, Daystar Power entered Ghana after raising $10m for West Africa expansion. The Ghana office was its second branch in West Africa with an office in the Ghanaian capital of Accra.

In March, Daystar Power received 10 million US Dollars for expansion of solar power operations in West Africa. The $10 million USD investment was led by Verod Capital Management and Persistent Energy Capital LLC.


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JUMO raises $55 million to launch new products in Africa & Asia

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Fintech startup Jumo has raised $55 million to launch new products in Africa and Asia as well as expand into new markets.

“We’re pleased to announce the closure of another successful funding round! We’ve secured US$55 million for expansion into new markets and to launch new products in Africa and Asia,” the firm announced.

The new investment round comes from new and existing JUMO investors including Goldman Sachs, Odey Asset Management and LeapFrog Investments.

“I’m excited for our next phase. This backing will help us build a better business and break new ground. The strong vote of confidence, along with the world-class tech talent we now have in the business, means we can achieve exceptional outcomes for our partners and customers,” says Andrew Watkins-Ball, Founder & Group CEO.

In November, JUMO announced it had reached 15 million customers across Africa and Asia. The technology company building next-generation financial services for emerging market entrepreneurs said connecting over 15 million people to credit and savings in their six markets in Africa and Asia was not a mean feat.

Andrew Watkins-Ball, Founder & Group CEO, said this milestone demonstrates JUMO’s unique ability to reach underserved entrepreneurs – over 60% of JUMO’s customers are micro, small and medium-sized enterprises (MSMEs).

“We are working to connect every entrepreneur to the financial products they need to grow and prosper,” says Watkins-Ball. “Our technology enables our partner banks and payments companies to help millions of underserved people access financial services.”

JUMO has disbursed over USD 1.6 billion in funding and is growing its base of savings products. “By empowering MSMEs, we’re also positively impacting communities, families and employees. Technology is removing barriers to financial inclusion making it possible to responsibly provide everyone with access to good financial choices,” Watkins-Ball added.

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Founded in London in 2015, JUMO works with financial service providers and mobile network operators to provide credit and savings solutions in Pakistan, Ghana, Tanzania, Uganda, Kenya and Zambia. The new funding round will help it enter new markets in Asia and Africa in the coming months.

Last year, JUMO closed an equity funding round of USD$52 million led by Goldman Sachs to further its growth and expansion into new markets.  Other leading investors including Proparco, the private sector financing arm of the French Development Agency (AFD), Finnfund, Vostok Emerging Finance, Gemcorp Capital, and LeapFrog Investments participated in the round. This funding round represents Goldman Sachs, Proparco and Finnfund’s maiden investments into JUMO.

The firm had also appointed new CEOs to support its expansion into new markets


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What Features To Consider When Buying A Nanny Cam

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Do you want to buy a nanny cam?

New age parents prefer buying nanny cams than the old fashioned way of telling the neigbours to checkup on the nanny. There have been plenty of horror stories whereby house helps have been caught unawares abusing children and those videos bore paranoid parents who are forever anxious about their children’s safety. Before buying a nanny cam you need to see if the features are right. Nanny cams are not cheap but there are several brands in the market that are preferred based on the features.

1. What’s the HD?

HD or high definition is a video format with a high pixel rate to give you more details and clarity. But at the same time, it comes at the price of decreased storage and higher cost. Considering your storage space, and practical demand, 720p and 1080p resolution is enough.

2. Can you hear or talk back and forth?

Nanny cameras with audio let you speak to your kids and babysitters for better monitoring. This works especially well if you have already told your nanny that there’s a camera in the house because you prefer seeing what your baby is doing. I have a friend who diligently tells her nanny when she’s in the wrong and is able to see what her baby is watching.

3. Is it wireless?

A wireless security cameras for baby monitoring lets you watch live video feeds while other nanny cameras just record the video for you to watch later. It depends on whether you want to see things as they happen or you prefer watching the videos later.

4. iPhone/iPad/Android compatible

With remote monitoring, you can check live streaming of your kid and the caregiver from your mobile devices when you are at work. This is great because as long as your phone is on you’re able to see what’s going on in your house.

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5. Motion activation

You can’t always be watching your PC or smartphone to keep track of everything you nanny does. Motion activation is an awesome feature which can send you alerts when motion occurs in front of it. This one is highly advanced and a bit more pricey as well.

6. Recording

Most nanny cams allows video recording on SD card, but the drawback is that the SD card can be filled up quickly. For a 24/7 reliable recording, use nanny cam with a NVR is a better choice.

7. Viewing angle

Depend on how large your room is, you can choose a wide-angle nanny camera, so that you can see all areas of the room. So make sure the camera has a pan-tilt function.

9. Power source

There are mainly two types when it comes to the power supply of a nanny camera: battery operated cameras and AC powered ones. Battery powered nanny cams run on rechargeable battery packs, while AC powered devices draw their power directly from the outlet. When running out of battery in several hours, the camera will stop working. If it’s convenient for you to find a power source, an AC powered nanny cam is a better choice for ongoing monitoring and recording.


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Women’s beach volleyball team intensifies training ahead of Olympic qualifier – KBC

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Kenya women’s national beach volleyball team training at Flamingo Beach Hotel in Mombasa in preparation for the Olympic Qualifiers

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Kenya Women’s National Volleyball team exuded confidence to qualify for the Tokyo Olympic Games in July this year.

After successful zonal qualifiers in Tanzania last month, the team has pitched camp in Mombasa to prepare for Olympic Qualifiers in Nigeria from 4th to 8th March 2020 at Jabi Lake Beach in Abuja.

Kenya came second during the first round qualifier games played at Mbalamwezi Beach in Dar es Salaam behind Rwanda.

“The players are in top form and determined to make history and qualify for Olympic Games for the first time,” said the team coach Sammy Mulinge.

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Speaking to Kenya News Agency on Wednesday at Flamingo Beach Hotel where the team is camping, Mulinge said his players were responding well to training and injuries reported so far.

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He said the camp was providing conducive environment for training and thanked the hotel management for according the team the necessary support.

Mulinge said out of the six players at the camp, two will be dropped before the team departs for Nigeria.

Kenya is grouped together with the hosts Nigeria, Cape Verde, Zambia and the Democratic Republic of Congo (DRC) where all teams will face each other in a round-robin fixture.

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