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), Asia Africa Investment & Consulting (AAIC, Tokyo), 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:

“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.”

John Stone, founder of the Stone Family Foundation: “We believe that Jibu is the only water business serving the lower income market in Africa that is ‘investable’. We have been searching for nearly ten years to find an investable WASH (Water, Sanitation and Hygiene) enterprise and are pleased to invest both equity and grant capital in this opportunity.”

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

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), Asia Africa Investment & Consulting (AAIC, Tokyo), 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:

“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.”

John Stone, founder of the Stone Family Foundation: “We believe that Jibu is the only water business serving the lower income market in Africa that is ‘investable’. We have been searching for nearly ten years to find an investable WASH (Water, Sanitation and Hygiene) enterprise and are pleased to invest both equity and grant capital in this opportunity.”

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

XCMG Opens First Direct Spare Parts Center in Africa – Consolidating Local Support

NAIROBI, Kenya, Feb. 1, 2018 /PRNewswire/ — XCMG opened its first direct regional spare parts center (“the Center”) on January 6 in Nairobi, Kenya to serve business in East Africa. The Center is a collaboration with TISCO Construction Ltd., and provides prompt services to clients in all the five countries in Eastern Africa. XCMG’s 4S shop (sales, spare parts, service and survey) also officially opened on the same day in Nairobi.

The Center in Kenya strives to deliver high quality and timely spare parts service, further enhancing the company’s competitiveness and brand influence. This new development will allow XCMG gradually increase the investment and better support the region, and to establish a bonded warehouse in Mombasa that can ensure supplies to construction projects.

“XCMG has established dealerships in 16 countries across Africa. The Center in Kenya will further advance XCMG’s strategy in the African spare parts market, it also sets an example for XCMG’s overall arrangement of spare parts centers in Asia-Pacific, Middle East, Central Asia, Europe and the Americas,” said Cui Xiangdong, assistant secretary of XCMG spare parts supervision management department.

In 2017, XCMG initiated an upgraded plan for the overseas service and spare parts network, with the state aim of establishing independent service and spare parts centers and increase relevant support for dealers. The plan also further enhances a three-level spare parts supply system that includes the general spare parts warehouse in China, regional spare parts centers and self-built spare parts stations and dealership spare parts stock.

There are more than 200,000 pieces of XCMG equipment are in use outside of China at present; and in Kenya alone there are 2,000 machines. As a leader in the global construction machinery industry, XCMG successively acquired Germany’s SCHWING and FT and Holland’s AMCA while establishing manufacturing bases and KD factories in 10 countries including Brazil, India, Kazakhstan, Malaysia and Iran.

About XCMG

XCMG is a multinational heavy machinery manufacturing company with a history of 75 years. It currently ranks eighth in the world’s construction machinery industry.

XCMG has 120 primary dealers, 134 overseas service and spare parts centers and 58 overseas subsidiaries and offices. The company’s products are exporting to 178 countries and regions worldwide, achieving an export sale of one billion USD in 2017, marking a 90 percent year-on-year increase.

For more information visit:
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Dreams FC renew partnership with two companies

Accra – Newly promoted Premier league side, Dreams FC has extended their relationship with two companies, ahead of the upcoming Ghana Premier League (GPL).

The club, at an official ceremony in Accra renewed an agreement with Production Company Paradise Pac Mineral water and an event management company M-Vision entertainment.

Paradise Pac Mineral Water, has been with the club for the last three years would be the official water provider for the team in the season ahead in addition to other financial benefits.

M-Vision entertainment would be the official event organisers for the team’s home matches as well as any other event the team would host.

Mr Kurt Okraku, Executive Chairman of Dreams FC, said that their relationship with both companies have been fruitful so far and hoped that it continued for a long time.

Source: Ghana News Agency

Man taking photographs in court grabbed

Accra – There was drama in court when an ex-convict, Ibrahim Akakpo aka Culture, who has been accused of selling drugs in a cemetery at Amasaman caused the arrest of a man who allegedly took pictures of him whiles court was in session.

Akakpo screamed very loud Make u not take photographs of me.

This compelled Police officers at an Accra Circuit Court to move swiftly towards the man who took the photographs and took away the man’s phone.

Akakpo, a trader has been charged with possessing 38 wrappers of dried leaves suspected to be cannabis.

With him in the dock are Abdallah Musah aka Dong and Frank Yeboah aka Shatta, all Sales boys.

Musah and Yeboah are being held for using narcotic drugs without lawful authority.

The three accused persons pleaded guilty with explanation before the court presided over by Mr Aboagye Tandoh.

However after listening to their explanations the court entered a plea of not guilty for the accused.

Akakpo had told the court that he and the other accused persons went to a spot to purchase some drugs and alcoholic drinks where they were arrested by the Police.

According to him, the one selling the drugs knew the Policemen so he fled but they were apprehended.

Musah and Yeboah denied owning the drugs.

The court therefore remanded them into Police custody to reappear on February 15.

Prosecuting Superintendent of Police Patience Mario told the court that complainants in the matter are neighbourhood Watch Committee members of Medie and the accused persons are residents in the area.

Supt. Mario said for the past one year, the accused and others who are on the run had turned Samsam junction cemetery into a ghetto and were undertaking a lot of nefarious activities.

Prosecution said January 24 this year, at about 1400 hours, the complainants were on their day patrols when they spotted Akakpo busily cutting dried leaves suspected to be narcotic drugs with a pair of scissors at the Samsam Junction cemetery while Musah and Yeboah were busily smoking the stuff.

Prosecution said the complainants managed to arrest the accused and escorted them to the Police station together with exhibits.

The prosecution said investigations were underway to test the drugs allegedly found on the accused persons.

Source: Ghana News Agency