Daily Archives: February 2, 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)Africa Healthcare Fund (Singapore), 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:

John Stone, founder of the Stone Family Foundation: “Jibu is one of only a few social enterprises bringing safe water to lower income families in Africa we would consider “investible”. We are an active investor in the water and sanitation sector and have been searching for over ten years to find investible WASH (Water, Sanitation and Hygiene) enterprises and as such are pleased to invest both equity and grant capital in this opportunity.”

“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.”

Shigeru Handa, 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
646-277-1232
cory.ziskind@icrinc.com

XCMG ouvre son premier centre de pièces détachées en gestion directe en Afrique, renforçant l’appui local

NAIROBI, Kenya, 1er février 2018 /PRNewswire/ — XCMG a ouvert le 6 janvier, à Nairobi (Kenya), son premier centre régional de pièces détachées (« le centre ») en gestion directe, pour approvisionner les entreprises d’Afrique de l’Est. Le centre est le fruit d’une collaboration avec TISCO Construction Ltd., et assure un service rapide aux clients des cinq pays d’Afrique de l’Est. La boutique 4S (ventes, pièces détachées, services après-vente et études) de XCMG, a également été inaugurée le même jour, à Nairobi.

Le centre kenyan s’attache à fournir un service de pièces détachées de grande qualité et en temps opportun, ce qui renforce plus avant la compétitivité et l’image de marque de la société. Cette initiative permettra à XCMG d’augmenter progressivement les investissements et de mieux approvisionner la région, mais également d’aménager un entrepôt de stockage à Mombasa, garantissant l’approvisionnement des projets de construction.

Cui Xiangdong, le secrétaire adjoint du département de gestion du contrôle des pièces détachées de XCMG, a déclaré : « XCMG a établi des concessions dans 16 pays d’Afrique. Le centre kenyan renforcera la stratégie de XCMG en Afrique concernant le marché des pièces détachées ; il servira également de modèle d’aménagement global des centres de pièces détachées de XCMG en Asie-Pacifique, au Moyen-Orient, en Asie centrale, en Europe et sur le continent américain. »

En 2017, XCMG a lancé un plan de revalorisation du réseau de services et de pièces détachées à l’étranger, dont l’objectif clair est de mettre en place des centres de services et de pièces détachées indépendants et d’améliorer l’appui aux concessionnaires. Le plan renforce également le système d’approvisionnement en pièces détachées à trois niveaux, qui comprend l’entrepôt principal en Chine, des centres régionaux et des stations autonomes et un stock de pièces détachées pour les concessionnaires.

À l’heure actuelle, plus de 200 000 pièces XCMG sont utilisées en dehors de la Chine, dont 2 000 machines pour le seul Kenya. En tant que leader dans le secteur des engins de construction, XCMG a acquis successivement les sociétés allemandes SCHWING et FT et la société néerlandaise AMCA, tout en établissant des unités de production et des usines KD dans dix pays, dont le Brésil, l’Inde, le Kazakhstan, la Malaisie et l’Iran.

À propos de XCMG

XCMG est une société manufacturière multinationale de matériels lourds qui exerce ses activités depuis 75 ans. Elle se classe actuellement au huitième rang dans l’industrie mondiale des équipements de construction.

XCMG compte 120 négociants principaux, 134 centres de services et de pièces détachées à l’étranger et 58 filiales et bureaux dans le monde. Les produits de la société s’exportent dans 178 pays et régions du monde, pour une valeur à l’exportation d’un milliard d’USD en 2017, soit une hausse de 90 % d’une année à l’autre.

Pour de plus amples informations, rendez-vous sur :
http://www.xcmg.com/FacebookTwitterYouTubeLinkedInInstagram

India Moves to Counter Growing Chinese Presence in Indian Ocean Region

India has signed a pact to build naval infrastructure in the Indian Ocean archipelago of Seychelles to counter growing Chinese influence in the region. The Indian foreign minister has also made an unusual visit to Nepal where Communist parties friendly with China are due to take power.

Analysts said the two moves in the past week underline India’s concerns about looming Chinese presence both in the Indian Ocean and in its immediate neighborhood.

Under the agreement concluded last week with Seychelles, India would build an airstrip and a jetty for its navy on Assumption Island. The base will help firm up its presence in the Indian Ocean and extend the reach of India’s navy by allowing it to rotate its ships and aircraft through the islands.

“Relations with countries in the Indian Ocean Region and nurturing a climate of peace and stability are important cornerstones of India’s foreign policy,” Indian foreign secretary, Subramaniam Jaishankar said after sealing the pact, which was renegotiated on the basis of an earlier deal signed in 2015.

India’s quest for strategic bases overseas comes amid intensified worries about being encircled by an increasingly assertive China.

Beijing formally opened its first overseas military base in Djibouti in East Africa last August. A greater concern, say analysts, is that Chinese assets are beginning to ring India in countries such as Bangladesh, Myanmar, Maldives and Sri Lanka that have signed on to Beijing’s ambitious Belt and Road Initiative (BRI).

“What we have got in our midst is a constriction of the Indian strategic maneuver space within our own geographical area,” says Director of National Maritime Foundation in New Delhi, Pradeep Chauhan. “As China begins to develop bases in the Indian Ocean, there is a higher risk of this competition turning into areas of conflict.”

Although some of the projects under the BRI have recently been cancelled or are being renegotiated due to fears of tough financial terms, it has not allayed concerns in India, which worries that a region that needs billions of dollars in infrastructure investment will not be able to resist the lure of Chinese investments.

“The real problem is of money and resources which all these countries want. There are aspirations which have gone up. Everybody wants to modernize and why not? And the Chinese are willing to offer money to them,” points out Sukh Deo Muni, a South Asia expert at the Indian Institute of Defense Studies and Analyses. And the worry is that the economic presence leads to a strategic presence “because they are using infrastructure projects for strategic purposes.”

India’s insecurities about Beijing’s looming presence in the Indian Ocean and in its neighborhood stem from China’s assertive behavior in the South China Sea, where it has conflicts with several countries such as Vietnam, Japan and Philippines. These concerns intensified after Beijing refused to accept the results of an international tribunal in 2016 over territorial claims in the South China Sea. “That undermines the entire fabric of international law,” says Chauhan.

The growing economies of Asia have made the Indian Ocean a hugely strategic region for countries like India and China with a bulk of their trade and crude oil imports traveling over these waters.

India’s concerns about Beijing’s growing political clout in neighboring Nepal also prompted Indian foreign minister Sushma Swaraj to visit Kathmandu days before an alliance of Communist parties is set to takes power. The alliance, backed by China, won a landslide victory in elections held in December.

Swaraj’s visit on Thursday and Friday is seen as New Delhi’s outreach to Nepali leader Khadga Pradad Oli who is expected to head the new government.

“It [Swaraj’s visit] speaks, it reflects a nervousness. That should have been done after he assumes the prime ministership,” said Muni, pointing out that the visit would usually take place after the new government takes power.

Relations between the two countries had hit a low point during Oli’s previous stint as Nepal’s prime minister in 2015. Accusing New Delhi of imposing an economic blockade on the country, he had built friendly ties with China in a bid to reduce the landlocked country’s dependence on India.

China has pledged about $8 billion in investments in Nepal and has promised rail links between the two countries. In the run up to the election, Oli also promised to revisit the previous government’s decision to scrap a $2. 5 billion dollar contract with China for a hydroelectricity project.

While India has also reached out to help small, neighboring countries like Nepal, Bhutan and Bangladesh develop infrastructure projects such as dams and roads, it is unable to match Chinese resources and is often accused of moving too slowly to implement the projects.

Source: Voice of America