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

GHANA OFFSHORE OIL PRODUCTION VESSEL SHUT DOWN FOR REPAIRS

ACCRA– Partners in Ghana’s Jubilee offshore oilfield have commenced a shutdown of the floating production storage and offloading (FPSO) vessel, the Kwame Nkrumah, to facilitate repair works on the damaged turret bearing of the vessel.

A statement issued by the Jubilee field operator, Tullow Oil, on Thursday, the shutdown is the first of two planned for the first quarter of the year. “It is also another chance to conduct scheduled maintenance to improve process reliability,” the statement added.

The partners in the consortium operating the field had planned a total of three shutdown periods for the year, two in the first quarter and one in the last quarter for remedial works on the FPSO turret bearing and rolling back into place.

“The first shutdown which begins Thursday February 1, 2018 will be for an estimated three-week period. This shutdown coincides with the planned Ghana National Gas Company (GNGC) shutdown of the Atuabo Gas Processing Plant. Therefore there will be no supply of gas to the plant,” the statement added.

The statement added that there would be a second shutdown starting from March 19 also for an estimated three-week period for the completion of works. During the second shutdown period gas supply from the Jubilee field will be replaced by gas supply from the Tweneboa-Enyenra-Ntomme (TEN) to GNGC.

Source: NAM NEWS NETWORK

GHANA’S PRESIDENT CALLS FOR CLOSER TIES BETWEEN ANGLOPHONE, FRANCOPHONE WEST AFRICA

ACCRA– President Nana Addo Dankwa Akufo-Addo of Ghana has stressed the need for the Anglophone and Francophone countries of West Africa to forge closer ties in order to secure to the success of the Economic Community of West African States (ECOWAS).

He said it was essential for English-speaking West African nations which are islands in the Francophone sea in West Africa, to bridge the language gap and maintain stronger ties with the Francophone nations for faster integration and development of the sub-region.

If ECOWAS is to succeed, there must be closer relations between English- and French-speaking countries in the region, President Akufo-Addo said when a delegation from the Council of Francophone Ambassadors to Ghana called on him at his Flagstaff House here Thursday.

The Council was at the Presidency to introduce the group officially to the President, affirm their commitment for stronger ties with Ghana, and to outline a four point agenda of bilateral arrangement to boost interactions between the country and the Francophonie.

The four-point agenda encompasses the promotion of the French language in Ghana; developing further co-operation in education and related areas; strengthening relations with the International Organization of the Francophonie; and the reinforcement of the place of the Francophonie within institutions.

President Akufo-Addo told the delegation that the decision taken by the Council to meet him was an excellent one, as Ghana’s first focus as a nation is bettering its relations with its neighbours within ECOWAS.

Source: NAM NEWS NETWORK

GHANA’S PRESIDENT CALLS FOR CLOSER TIES BETWEEN ANGLOPHONE, FRANCOPHONE WEST AFRICA

ACCRA– President Nana Addo Dankwa Akufo-Addo of Ghana has stressed the need for the Anglophone and Francophone countries of West Africa to forge closer ties in order to secure to the success of the Economic Community of West African States (ECOWAS).

He said it was essential for English-speaking West African nations which are islands in the Francophone sea in West Africa, to bridge the language gap and maintain stronger ties with the Francophone nations for faster integration and development of the sub-region.

If ECOWAS is to succeed, there must be closer relations between English- and French-speaking countries in the region, President Akufo-Addo said when a delegation from the Council of Francophone Ambassadors to Ghana called on him at his Flagstaff House here Thursday.

The Council was at the Presidency to introduce the group officially to the President, affirm their commitment for stronger ties with Ghana, and to outline a four point agenda of bilateral arrangement to boost interactions between the country and the Francophonie.

The four-point agenda encompasses the promotion of the French language in Ghana; developing further co-operation in education and related areas; strengthening relations with the International Organization of the Francophonie; and the reinforcement of the place of the Francophonie within institutions.

President Akufo-Addo told the delegation that the decision taken by the Council to meet him was an excellent one, as Ghana’s first focus as a nation is bettering its relations with its neighbours within ECOWAS.

Source: NAM NEWS NETWORK