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

Criminal underworld under attack

South Africa’s law enforcement agencies have adopted an approach called the Organised Crime Threat Assessment (OCTA) – devised to target the actual kingpins who bankroll organised crime.

The aim of the OCTA is to analyse the modus operandi of the so-called untouchables of the criminal underworld – the dark syndicates who are the actual root of serious crime.

This is about tracking and dealing a blow to the source of crime � the kingpins, crime financiers and planners. These are the people who drive luxury cars and behave as though they are ordinary hard working people.

We are targeting these masqueraders head on � one by one. Their crimes are massive and through their criminality, hundreds of other crimes get committed, Police Minister Fikile Mbalula said on Friday.

The Minister, National Commissioner General Khehla Sitole, the Acting Head of the Hawks Lieutenant General Yolisa Matakata and SARS Commissioner Tom Monyane briefed the media on what they called a significant breakthrough in the criminal underworld.

The breakthrough relates to the arrest of nine members of a syndicate suspected of operating a large scale value-added tax (VAT) fraud scam, with a potential loss to the fiscus of more than R99 million.

The nine suspects � eight men and a woman between the ages of 35 and 70 years � were arrested by the Hawks at their homes in upmarket residential areas in Gauteng and KwaZulu-Natal on Wednesday.

The operation was planned with the assistance of the Hawks’ Cyber Crime, Commercial Crime and the South African Police Service (SAPS) Tactical Response Units, following an investigation by SARS criminal investigators which started in 2014.

The SARS investigation revealed that the syndicate, which included a bookkeeper in Durban and Benoni, respectively, claimed R99 million fraudulent refunds through 15 registered, but fictitious VAT vendors.

False VAT vendor details, with fraudulent supporting documents, were used to register the vendors.

Monyane said SARS had paid out approximately R30.6 million before the scam was uncovered and further payments stopped.

The proceeds of the scam were deposited in bank accounts from where the money was allegedly laundered through at least 35 so-called suppliers, Monyane said.

During the search, the Hawks seized an AK47 and a pistol, of which the serial number had been filed off, approximately, R250 000 in cash and several gold bars, as well as Kruger Rands worth millions of Rands and bags full of possibly incriminating documents.

Documents seized include identity documents and bank cards of the people who had been registered as VAT vendors, as well as luxury cars.

The suspects appeared in the commercial crime courts in Durban and Pretoria on Thursday and are currently out on bail.

Minister Mbalula congratulated the officials for a job well done in this case saying it is one of the ways that law enforcement are stamping the authority of the state.

However, he advised that the criminals are getting extremely sophisticated and police have to be miles ahead.

Our work is going on at times quietly. This includes all matters currently under intense public discourse � there will be action. Our fight against corruption and organized crime is a quiet revolution. It is not going to be televised but it will bite steadily and steadfastly without any fear or favour given � there are no holy cows in these secret projects.

The Minister went on to warn the syndicates involved in anything criminal from, human trafficking, drugs manufacturing and trafficking, car highjacking, assets in transit trafficking, luxury goods fake goods manufacturing and importing, wildlife trafficking and poaching, financing of illegal shebeens and taverns, taxi and bus wars, uber attacks, counterfeit currency printing and public sector corruption that the might of the law is coming for them.

Source: South African Government News Agency

Eye testing services brought closer to Soweto community

Travelling long distances for eye screening and management of eye problems will be a thing of the past for the community of Dlamini in Soweto and surrounding areas.

This follows a public-private partnership between the Gauteng Department of Health (GDOH), Brien Holden Vision Institute and Standard Chartered Bank.

The three partners are supporting the Seeing is Believing campaign and Vision Service Plan Global (VSP Global), which has resulted in the successful delivery of three projects and a significant contribution to the development of eye health services in primary health care centres.

Through these projects, 72 709 adults and 16 886 children were examined by optometrists since the beginning of the partnership.

A total of 25 130 adults and 6 583 children received spectacles and a total of 190 low vision assistive devices were dispensed, amongst others.

Chief Director in the Johannesburg Health District, Mogeru Morewane, said clinics are equipped to assist patients with eye problems.

I can certainly inform you that our facilities are readily available for the community to access these services.

Historically, eye health services and professionals were only available at tertiary levels of care due late diagnosis, which resulted in eye health disease complications and admissions, Morewane said.

Vision 2020

Vision 2020 is an initiative by the World Health Organisation which was launched in 1999 to eliminate the causes of preventable blindness by the year 2020. This is in order to give all people in the world, particularly the millions of needlessly blind, the right to sight.

The number of people blind due to avoidable causes of blindness like cataract, refractive error and glaucoma is increasing every year. To enable GDOH to achieve the prescripts of Vision 2020, it is imperative that people are educated on the importance of eye health and screening to avoid complications in later stages, Morewane said.

Early detection of eye conditions leads to early intervention and it is a powerful strategy to avoid complications and or even unnecessary blindness. It is less expensive to treat minor causes of vision loss than to wait until one is totally blind and then try to restore vision because by then the service is very expensive � if it is even possible at all.

We are delighted to contribute sustainably to the eradication of treatable and avoidable blindness in South Africa’s poorest communities through our ‘Seeing is Believing’ project, Morewane said.

Eye care tips

Always wear sunglasses or tinted lenses when you are in the sun.

Ensure good antenatal care to avoid congenital eye problems.

Ensure children receive all vaccinations, as per immunization schedules.

Ensure that any eye trauma is attended to urgently.

Ensure that children are examined by an optometrist before entering primary school and high school.

Don’t use eye drops that may have been prescribed for someone else.

Source: South African Government News Agency