Cape Town based non-profit Reconstructed Living Labs (RLabs) plans to support 40 000 youth, and their families, through its Zlto app. The app rewards participants who complete microtasks, with vouchers that can be exchanged for essential items.
This, while Sanlam has announced that it will seed three funds with R2.25-billion in capital, to support companies negatively affected by Covid-19.
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With Covid-19 headlining news all over the world, Ventureburn has launched a regular daily roundup on the virus and how it is affecting Africa’s tech startup sector.
Those with any news releases relating to Covid-19 and Africa’s tech startup sector can send these to editor@memeburn.com.
RLabs, through its Zlto app, plans to support 40 000 youth and their families to access essential items, like food
Here then is the latest on the coronavirus and African tech startups:
RLabs fund to target 40 000 youth: Cape Town based non-profit Reconstructed Living Labs (RLabs) plans to support 40 000 youth, and their families, through its Zlto app. The app rewards participants who complete microtasks, with vouchers that can be exchanged for essential items. RLabs founder Marlon Parker (pictured above) says a recent survey completed by some of our members on Zlto showed that nearly 60% of respondents require support with food, finances and access to masks during the lockdown. The app currently has more than 18 000 active users. Two of RLabs’ partners, the Michael & Susan Dell Foundation and JP Morgan, have already made donations.
Sanlam announces R2.25bn funds: Sanlam has announced that it will seed three funds with R2.25-billion in capital, to support companies negatively affected by Covid-19, Fin24 reported in an article yesterday. The asset manager said it has already approached a number of institutional investors to raise more capital. The three funds, dubbed the Investors Legacy Range, include a R1-billion SME debt fund, a private equity fund and a senior debt fund.
Digital Africa to develop white paper: French Development Agency’s €65-million initiative Digital Africa plans to develop a white paper to guide the organisation over the next three years on how to support Africa’s high-impact startups, Business Report said in an article yesterday. Kizito Okechukwu, Digital Africa’s newly appointed board vice-president and interim president, said the paper would include how startups should be supported during the Covid-19 pandemic. Okechukwu also serves as the executive head of 22 On Sloane.
Read more: Covid-19 and African tech startups roundup [10/06/2020]
Read more: Covid-19 and African tech startups roundup [09/06/2020]
Read more: Covid-19 and African tech startups roundup [08/06/2020]
Featured image: RLabs founder Marlon Parker (YouTube)
