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SweepSouth Acquires Filkhedma to Penetrate Egyptian Market

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Filkhedma

By Modupe Gbadeyanka

An Egyptian start-up, Filkhedma, has been acquired by SweepSouth, a South African-based company also currently operating in Kenya and Nigeria.

“We are thrilled to have Filkhedma as part of the SweepSouth family,” the CEO and co-founder of SweepSouth, Ms Aisha Pandor, stated.

“It’s not only their services that align with ours, but also their values and culture. Just like us, Filkhedma is passionate about providing quality and trusted home services, while creating work opportunities for those who need it most,” she added.

“We’ve proven our technology and operational expertise in numerous markets in sub-Saharan Africa, and this acquisition gives us the opportunity to extend that reach into Egypt, a huge market with millions of households.

“Coming together with the Filkhedma team represents the next phase of building SweepSouth into a global platform that will continue to expand our services not only on the continent but further abroad as well,” the co-founder of the firm, Mr Alen Ribic added.

Filkhedma is Egypt’s leading home services marketplace operating across three regions on the continent and serving tens of thousands of customers with cleaning, maintenance, and beauty services while empowering over 2,000 service providers through technology with consistent incomes and professional development.

“We are happy with this incredible milestone and excited about joining forces with the SweepSouth team to fulfil our vision of empowering providers and delivering quality services in Africa and beyond.

“We already have well over 2 000 service providers on our platform and we’re confident that with the backing of SweepSouth, we will be able to sign up many more and expand into neighbouring countries, too,” the CEO of Filkhedma, Mr Omar Ramadan, stated.

Under the new arrangement, Mr Ramadan will play a key role in the executive team of the combined entity and that all employees of Filkhedma will stay on.

The acquisition means that SweepSouth will be one of a few African start-ups operating in the continent’s four key tech ecosystems of South Africa, Egypt, Kenya, and Nigeria. It also means that all markets will have access to new services almost immediately, while the company as a whole will be primed for further expansion into other parts of Africa and the Middle East.

For South Africa, the biggest change will be the imminent rollout of beauty services. This will include manicures and pedicures, hair care and makeup services that can be done at home. This not only gives SweepSouth customers access to more services, but it also gives entrepreneurs in the field the opportunity to list on the platform. This, in turn, allows access to a larger pool of potential customers.

For Egypt, the company will benefit from SweepSouth’s technology, as well as the indoor and outdoor home cleaning services already available in South Africa, Kenya and Nigeria.

Naspers Foundry Head, Fabian Whate, said, “This acquisition has the potential to yield significant synergies. Filkhedma is an excellent business and is aligned to SweepSouth’s ambitions to expand its service offering and gain access to high growth markets across the region.

“Egypt’s growing middle class and rising financial inclusion and internet penetration, offer huge opportunities for the combined home services platform of the two companies. Helping high-potential early-stage tech companies scale is central to what Naspers Foundry does and we’re particularly excited about this milestone in SweepSouth’s journey.”

“We are very excited to see this partnership happen and the prospects of this combined entity,” said Tarek Assaad, Managing Partner at Algebra Ventures, the lead investor in Filkhedma. “Filkhedma pioneered the home services industry to become the largest player in Egypt, and this consolidation with SweepSouth demonstrates the parallel fits between Egypt and Sub-Saharan Africa. Companies partnering across the continent pave the way to cross-border investments, and highlight that we are one step closer in addressing the untapped opportunities existing in Africa’s key markets.”

“Egypt has been a strong economic player on the continent for many years,” notes Pandor. “The country has a strong, and growing, middle-class that has been underserved in the domestic home services arena. With a compelling economic growth track record and outlook, and an economy that has been resilient in the face of challenging times, it made sense for us to eye this market for our next big leap.”

“We are entering a rapid growth phase and executing on a number of other new country launches in 2022,” adds Pandor. “Having the Filkhedma team on board is particularly exciting as it’s an intra-African acquisition by two companies in the same vertical. This acquisition almost doubles our addressable market on the continent and enhances the products and services that we already offer.”

“We are particularly excited about the growth prospects this acquisition presents us with,” Ramadan notes. “Already we have a string of new software updates coming thanks to this acquisition and we are also able to offer our expertise in onboarding our popular services, such as air conditioning technicians, satellite dish installations and home appliance repairs, in other regions.”

“I look forward to working with Aisha, her co-founder Alen Ribic, and their team as we enter this exciting new chapter,” he concludes.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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Binance Hires TikToker Khaby Lame for Web3 Awareness

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Khaby Lame Binance

By Adedapo Adesanya

A week after announcing football icon, Cristiano Ronaldo, as its brand ambassador, Binance enlisted the services of Mr Khaby Lame, the Senegalese content creator who grew to fame through his viral TikTok videos, to promote its brand globally.

As the blockchain ecosystem behind the world’s largest cryptocurrency exchange, Binance will partner with Khaby to increase Web3 awareness and adoption.

Khaby became a sensation for his spin on “life hack” videos, navigating overly complicated scenarios without saying a word while doing the famous “Khaby move.”

He will use his signature style to tackle some of the misperceptions around Web3 in this multi-year partnership.

The former factory worker, just like Ronaldo, will also partner with Binance on exclusive non-fungible token (NFT) collections, further enhancing the experience for his fans.

Speaking on the partnership, Khaby Lame said, “I consider my followers as my family, and I am always looking for new challenges and interesting content to share with them.”

“I’ve been curious about Web3 for some time, and jumped at the chance to partner with a leader like Binance because it aligns perfectly with what I usually do: make complex stuff easy and fun for everyone,” the TikToker further said.

“Khaby has become a cultural icon and one of the most entertaining creators globally. We love his charm and sense of humour, and think it will bring relevance and relatability as we scale Web3 adoption,” said Mr James Rothwell, Binance Global Vice President of Marketing. “With so much nuance around Web3 and misinformation in the world, it was a perfect match to have Khaby on board to help debunk some of the myths around this space.”

Khaby is currently the most-followed creator on TikTok, with more than 144 million followers on the platform, and 78 million followers on Instagram.

Binance is the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume. The company offers crypto products and offerings, including trading and finance, education, data and research, social good, investment and incubation, decentralization and infrastructure solutions.

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Rite Foods Introduces New Fruit Drink in Five Flavours

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Rite Foods Hunger in Nigeria

By Modupe Gbadeyanka

A new fruit drink with five flavours called Sosa Fruit Drink has been introduced into the Nigerian drink market by Rite Foods Limited.

The market of carbonated soft drinks, energy drinks and sausages explained in a statement that the new product was created to meet the needs of consumers, who yearn for quality and refreshing fruit drinks.

Sosa Fruit Drink comes in Orange, Apple, Orange Passion and Mango, Mixed Berries, and Cranberry flavours in 35cl and one-litre packs.

The Managing Director of Rite Foods, Mr Seleem Adegunwa, said the company’s commitment to its consumers’ satisfaction remains unmatched, as it continuously ensures it produces premium quality products that meet consumers’ needs in a manner that reflects positively on the business and the market.

“Our values of innovation and excellence at Rite Foods help us to remain committed to growing with the consumers’ tastes through our unique selling proposition.

“This is evident in our new range of Sosa fruit drink products, its quality, package, sizing as well as pricing, all of which are produced with state-of-the-art infrastructure and up-to-the-minute technology to delight and refresh consumers all over the world,” Mr Adegunwa said.

The Brand Manager for Beverage and Bakery at Rite Foods, Ms Boluwatife Adedugbe, described Sosa Fruit Drink as an exceptional brand that guarantees the highest quality products for consumers’ refreshment, noting that the firm was excited to offer consumers the new range of Sosa fruit drink that delivers the ultimate refreshment.

Rite Foods is a subsidiary of Ess-Ay Holdings established in 2007. It boasts Bigi soft drink, Rite Spicy, Bigi Beef and Rite Sausages.

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Zoho Introduces New Product for SMEs, Gets Office in Lagos

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Zoho executives

By Dipo Olowookere

Global technology company, Zoho, will next month officially open its third African office in the Lekki area of Lagos as part of its efforts to serve its clients in Nigeria better.

Addressing journalists in Lagos on Friday, the President of Zoho for MEA, Mr Hyther Nizam, explained that the decision to bring the company closer to its consumers in the country is because Nigeria is its largest market on the continent.

He noted that the firm will use the opportunity to reduce the unemployment rate in the country as it would hire more employees locally for customer-facing roles, especially in the sales, marketing and other departments.

While speaking on the sidelines of the company’s first user conference in the country tagged Zoholics Nigeria, Mr Nizam further disclosed that Zoho has introduced a new product called Zoho Africa Digital Enabler package tailored for small and medium enterprises (SMEs) with about five employees.

According to him, the Zoho Africa Digital Enabler package, which will be available from July 1, 2022, will help small businesses take steps towards digital transformation and it would be offered at a discount of 50 per cent for a period of three months with a collection of 10 leading apps.

He explained that subscribers will have access to standard support available to them, which will allow access to a knowledge base, community forums, a self-service portal, email support and remote assistance. It also includes live chat support and telephonic support during working hours five days a week.

“For small businesses, enterprise technology is prohibitively priced and inaccessible,” said Mr Nizam. “We want to remove the technology adoption barrier and help them kickstart their digital transformation journey, which will in turn help them stay nimble and quickly adapt to changing market conditions.

“The products are available in local pricing, helping businesses avoid cost fluctuations due to changing dollar value, which is beneficial in the current turbulent economy. We hope that Nigerian businesses will avail of this plan and fast-track their growth by leveraging cloud technology.”

Business Post gathered that in the package are Zoho Workplace, Zoho Invoice, and Zoho Begin, among others.

The Zoho Workplace is a unified platform that brings together collaboration, productivity, and communications tools and integrates them into other business processes. It has secure business email (Zoho Mail), team chat (Zoho Cliq), and an online office suite (Zoho Writer, Zoho Sheet, Zoho Show, and Zoho WorkDrive).

The Zoho Invoice helps users create and send customised invoices, track time, and bill customers accurately. It can also improve their cash flow by automatically sending payment reminders to customers, and getting paid online faster through debit/credit cards and PayPal. Moreover, businesses can record and track expenses by simply scanning their expense receipts. They will also be able to track tax levied on every transaction, allow customers to view their invoices, and projects, and make payments through the self-service portal.

As for the Zoho Bigin, it is a pipeline-centric CRM designed specifically to help MSMEs keep track of their customers and improve customer relationships without having to worry about high costs or complicated features. It can be set up in 30 minutes, with options to create multiple pipelines with customisable stages based on a company’s operation style.

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