Wrap-Up: Our pick of main stories, Friday July 24th, 2015

Mifugo.trade seeking $100k to digitise livestock trading in Kenya

Kenyan startup Mifugo.trade is seeking to raise US$100,000 in angel funding, with the funds set to enable the company to digitise livestock trading in Kenya. Founder and chief executive officer (CEO) of Mifugo.trade, Taylor Tully, says the livestock trade provides livelihoods for over six million pastoralists in Kenya, however, the fragmented and inefficient processes involved in livestock exchanges limit the income of traders.

Survey of 5 African countries highlights importance of social media

A survey conducted by GeoPoll and the U.S. State Department in Kenya, Democratic Republic of Congo, Ghana, Nigeria, and South Africa reveals Social media as the most popular online tool for supporting business growth. GeoPoll surveyed 200 entrepreneurs per country in the five countries. Surveys were conducted via SMS message the week of July 13, 2015

OPIC, Microsoft begin financing discussions with Kenya’s Mawingu Networks

The Overseas Private Investment Corporation (OPIC), the U.S. Government’s Development Finance Institution, today signed a mandate letter to begin financing discussions with Mawingu Networks, a provider of solar-powered wireless Internet across rural Kenya. OPIC’s President and CEO Elizabeth Littlefield is in Nairobi for the 2015 Global Entrepreneur Summit, and signed the OPIC mandate today alongside Antony Cook, Microsoft’s Head of Legal and Corporate Affairs for the Middle East and Africa, who served as a witness to the mandate between OPIC and Mawingu.

$100k Pitch for Impact competition set for Nairobi

Eight Kenyan startups are set to pitch for US$100,000 in prize money at the Pitch for Impact competition to be held in Nairobi, Kenya today, in one of the many events leading up to the Global Entrepreneurship Summit (GES) taking place this weekend. The Pitch for Impact competition is co-hosted by the Case Foundation, Village Capital, the DOEN Foundation and the Sorenson Global Impact Investing Center.

Safaricom battles rival for right to Okoa Stima name

Safaricom has told the court that the contested Okoa Stima name is not registered as a trademark by the Kenya Industrial Property Institute and therefore using it in its electricity token credit business does not infringe on anyone’s rights. Information technology (IT) services firm Colour Planet has sued Safaricom over use of the name, claiming that it developed the software from 2012 and that the alleged infringement has watered down the quality of its trademark.