Daily Archives: February 1, 2018

Jibu Announces Completion of $7 Million Series B Financing

Funds raised through impact investments will accelerate Jibu’s growth and drive social and financial returns

DENVER, Feb. 01, 2018 (GLOBE NEWSWIRE) — Jibu, a social enterprise that has reinvented the traditional franchise model to equip emerging market entrepreneurs to build solutions that close infrastructure gaps and ensure access to basic human necessities, announces the completion of its $7 million Series B financing round, bringing its total raised to more than $10 million.  The Company will use the funds to accelerate its launch of 1,000 drinking water franchises in at least a dozen new countries by 2022.

“Over one billion people globally do not have access to daily necessities such as safe drinking water.  In addition, top entrepreneurial talent lies dormant because of lack of meaningful business ownership opportunities and massive unemployment in emerging markets,” said Randy Welsch, Jibu Co-Founder and President.  “These are the core challenges and opportunities Jibu is working to address through our hybrid social enterprise that fundamentally integrates financial and charitable goals without compromising either.”

Jibu’s Series B round consisted of a combination of mostly equity investment along with grant capital raised from many individuals and organizations internationally, notably Conrad N. Hilton FoundationDanone Communities (Paris)Stone Family Foundation (London), Asia Africa Investment & Consulting (AAIC, Tokyo), Maclellan FoundationSegal Family Foundation, and NRD Capital.

“We are proud to have attracted a world class group of investors to help Jibu execute on our vision of funding and growing a network of co-invested business owners who will revolutionize the way critical resources are leveraged to meet basic necessities in emerging markets,” said Galen Welsch, Co-Founder and Chief Executive Officer of Jibu. “Our successful Series B raise provides the capital for Jibu to significantly increase the speed and quality of Jibu’s expansion globally.”

Jibu’s investors provided the following commentary about their financial support:

“By tapping into latent entrepreneurial talent, Jibu has demonstrated in a very innovative way how to multiply branded drinking water franchises that provide a highly trusted product while also generating a profit,” said Peter Laugharn, President and CEO for the Conrad N. Hilton Foundation. “We are pleased to be investing in Jibu and hope our partnership spurs further creativity in an effort to reach the vast underserved market in Uganda.”

Corinne Bazina, General Manager at Danone Communities: “After working on the water kiosk model for the last 10 years, we see in Jibu’s service experience and franchise system the next step of what this solution needs to reach scale. We want to be of service to making that happen with a broader community of players, investors and operators.”

John Stone, founder of the Stone Family Foundation: “We believe that Jibu is the only water business serving the lower income market in Africa that is ‘investable’. We have been searching for nearly ten years to find an investable WASH (Water, Sanitation and Hygiene) enterprise and are pleased to invest both equity and grant capital in this opportunity.”

Shigeru Handa, AAIC’s Director of the Africa Healthcare Fund: “Jibu is needed.  It makes people more safe and secure through access to affordable drinking water. It also promotes a profitable franchise business platform for entrepreneurs, creating jobs with true ownership. We are enthusiastic to invest in Jibu’s scaling and community promise.”

Jibu scaled from two franchises in two countries in 2015 to more than 200 new businesses in Kenya, Uganda and Rwanda, launching at a rate of more than one new locally-owned business per week. Many of these businesses are profitable within a few months.  In September 2017, Jibu adapted its business model in Zimbabwe by licensing an experienced local investor-entrepreneur to grow Jibu’s footprint to more than 90 franchises in Zimbabwe within the next few years. Jibu is also currently piloting this new model through a local partner in Tanzania. If successful, this new approach will further accelerate Jibu’s growth and international impact.

About Jibu

Jibu is a social enterprise pioneering a powerful new model that capitalizes and equips entrepreneurs in emerging market communities to own businesses that ensure access to basic human necessities, with water as an anchor product. Jibu has scaled a network of locally owned, financially independent and self-sustaining franchises that provide safe drinking water to their communities while offering life-changing training and employment. Driven by a belief in the power of eye-to-eye partnership to unleash latent entrepreneurial talent, Jibu is transforming the challenge of addressing basic human needs into an expansive opportunity that allows thousands of entrepreneurs to build lasting solutions, one neighborhood at a time. The company’s vision is to train, finance, and grow a network of co-invested business owners who will revolutionize the way critical resources are leveraged to develop essential infrastructure in emerging markets.  For additional information, please visit: http://jibuco.com/

Media Contacts:

Jibu
Kelli Schroeder
+1-850-544-2448
kelli@jibuco.com

ICR
Cory Ziskind
cory.ziskind@icrinc.com
646-277-1232

XCMG Opens First Direct Spare Parts Center in Africa – Consolidating Local Support

NAIROBI, Kenya, Feb. 1, 2018 /PRNewswire/ — XCMG opened its first direct regional spare parts center (“the Center”) on January 6 in Nairobi, Kenya to serve business in East Africa. The Center is a collaboration with TISCO Construction Ltd., and provides prompt services to clients in all the five countries in Eastern Africa. XCMG’s 4S shop (sales, spare parts, service and survey) also officially opened on the same day in Nairobi.

The Center in Kenya strives to deliver high quality and timely spare parts service, further enhancing the company’s competitiveness and brand influence. This new development will allow XCMG gradually increase the investment and better support the region, and to establish a bonded warehouse in Mombasa that can ensure supplies to construction projects.

“XCMG has established dealerships in 16 countries across Africa. The Center in Kenya will further advance XCMG’s strategy in the African spare parts market, it also sets an example for XCMG’s overall arrangement of spare parts centers in Asia-Pacific, Middle East, Central Asia, Europe and the Americas,” said Cui Xiangdong, assistant secretary of XCMG spare parts supervision management department.

In 2017, XCMG initiated an upgraded plan for the overseas service and spare parts network, with the state aim of establishing independent service and spare parts centers and increase relevant support for dealers. The plan also further enhances a three-level spare parts supply system that includes the general spare parts warehouse in China, regional spare parts centers and self-built spare parts stations and dealership spare parts stock.

There are more than 200,000 pieces of XCMG equipment are in use outside of China at present; and in Kenya alone there are 2,000 machines. As a leader in the global construction machinery industry, XCMG successively acquired Germany’s SCHWING and FT and Holland’s AMCA while establishing manufacturing bases and KD factories in 10 countries including Brazil, India, Kazakhstan, Malaysia and Iran.

About XCMG

XCMG is a multinational heavy machinery manufacturing company with a history of 75 years. It currently ranks eighth in the world’s construction machinery industry.

XCMG has 120 primary dealers, 134 overseas service and spare parts centers and 58 overseas subsidiaries and offices. The company’s products are exporting to 178 countries and regions worldwide, achieving an export sale of one billion USD in 2017, marking a 90 percent year-on-year increase.

For more information visit:
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DRC: Kabila Will Name Successor Candidate by July

A spokesman for the Democratic Republic of Congo says President Joseph Kabila intends to respect the constitution and relinquish power after elections scheduled for December.

Speaking to VOA’s French to Africa language service, Lambert Mende said despite delays the government is finishing voter registration in remote areas of the country and is on track to hold elections according to the timetable set by the electoral commission.

He added Kabila does not intend to seek reelection, and will announce in July his choice of a candidate to compete in the December poll.

According to the country’s constitution, the president can not seek a third consecutive term in office.

Joseph Kabila assumed the presidency in January 2001, days after the assassination of his father Laurent Kabila. He was elected president in his own right in 2006, and re-elected to a second term in 2011.

But he refused to step down at the end of his mandate in December 2016. Elections meant to replace him have been repeatedly delayed, prompting his opponents to accuse him of derailing the process in order to cling to power, a charge he has denied.

Under a church-mediated deal between Kabila and his opponents, the president was to step down at the end of last year, paving the way for an election in early 2018. But Kabila reneged on the deal, pushing back elections until the end of 2018, at the earliest.

Source: Voice of America

Education and Africa: Twin Priorities of UNESCO Director-General at Education Funding Conference in Dakar

The Director-General of UNESCO, Audrey Azoulay is in Senegal from 1 to 3 February on the occasion of the Financing Conference of the Global Partnership for Education (GPE) taking place in Dakar. It is the first visit to Africa of the Director-General illustrating the priority of the education sector and the cross cutting priority given to the African continent.

UNESCO is the United Nations agency in charge of coordinating efforts worldwide to provide universal quality education by 2030 of which the Global Partnership for Education is an integral part.

The President of Senegal, Macky Sall, and his French counterpart, Emmanuel Macron, are co-chairing the Dakar conference whose objective is to raise funds to support education. It is bringing together Heads of State, ministers, leaders of UN agencies and civil society organizations, as well as representatives of the private sector and over 1,000 education stakeholders.

Education must become the priority in development aid. We are here to mobilize more aid, support national efforts, and make education a shared responsibility,rdquo; said Ms Azoulay.

According to UNESCO’s Global Education Monitoring Report, aid to education worldwide has declined by 4% since 2010. Education aid to sub-Saharan Africa, home to half of the world’s out-of-school children, has declined by 50% from 2002 to 2015. It is estimated that $39 billion will be required annually to achieve universal education from early childhood to the secondary level in low and middle-income countries.

The Director-General is advocating for education as un unequalled force for change to build more equitable and inclusive societies. She will highlight the need for partnerships to provide States with the tools and know-how needed to develop quality educational systems. UNESCO alone disposes of the statistic, standard-setting and strategic instruments required to meet the specific needs of each country.

Ms Azoulay will address the conference on the morning of 2 February (9.30 am) and again during the afternoon session (2 to 4 pm) in the presence of Heads of State. She will also hold bilateral talks with Heads of State, government ministers and UN agency leaders in the course of the two-day event.

The Director-General is also visiting Pikine, the second largest city in Senegal, where UNESCO is contributing to the empowerment of vulnerable groups, notably girls and women, through several programmes concerning, for example, literacy and sustainable urban development.

On 3 February, the Director-General will visit the Island of Saint-Louis, inscribed on UNESCO’s World Heritage List in 2000, along with the Presidents of Senegal and France. The visit will take place in the framework of a joint project involving UNESCO, the World Bank and France to contain coastal erosion, which is threatening cultural and natural heritage.

Source:United Nations Educational, Scientific and Cultural Organization (UNESCO)

4 Elephants Die of Poachers’ Cyanide Poisoning in Zimbabwe

Four elephants have died from cyanide poisoning in Zimbabwe as poachers take advantage of a dry spell to contaminate remaining water sources.

Zimbabwe Parks and Wildlife Management Authority spokesman Tinashe Farawo says rangers discovered the carcasses in Hwange National Park on Jan. 25.

He says their ivory was missing.

The spokesman says poachers are increasingly turning to poison instead of using their noisy rifles as police and park rangers increase joint patrols.

Farawo says poachers also are injecting cyanide into oranges and pumpkins, which are favorites of elephants.

The southern African nation teems with elephants and other wildlife but has battled poachers for years.

Farawo says 53 elephants died from cyanide poisoning last year, lower than in previous years when hundreds of elephants died.

Source: Voice of America