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Grab CEO: “We’re targetting another $2 billion funding this year”😶

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Southeast Asia’s biggest ride-hailing firm “GRAB” said, just weeks after it announced funding of over $4.5 billion in the largest private financing round in the region ever that it expects to raise another $2 billion from strategic investors this year.

They were expecting to raise a total of $6.5 billion capital this year,”. The funding was going to be a combination of equity plus debt all in a bid to quickly expand their business lines in financial services and food delivery.

Grab is also looking to make at least six investments or acquisitions this year, said Tan, adding that the Singapore-headquartered company had no need for a stock market listing.

Grab’s massive financing round started shortly after it bought Uber’s Southeast Asian operations in March 2018 and, in return, Uber acquired a 27.5 percent stake in Grab’s business.

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24 Hours Across Africa

Brazil to host Nigeria and Senegal

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Brazil Football Confederation official Juninho Paulista have confirmed frendlies with Nigeria and Senegal.

It will be first ever meeting between Brazil and Senegal, who lost the Africa Cup of Nations final to Algeria and are the continent’s top-ranked African side.

Nigeria, who won Bronze in Egypt, will be meeting Brazil for the second time at senior level following a 3-0 defeat in a friendly in June 2003 in Abuja.

“We chose two of the best African teams because they are high level opponents,” Brazil Football Confederation official Juninho Paulista said on the website.

“It was a wish of the technical commission. So we went after these opponents.”

The friendlies are in line with Brazil’s wishes to play top 50 ranked teams whenever possible.

Brazil’s only other Africa opponent under coach Tite was a 1-0 win over Cameroon in November last year, in a match played in England.

It will be Brazil’s second game in Singapore following a Neymar-inspired victory over Japan in October 2014.

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24 Hours Across Africa

Rwanda ban Burundi,s music star ahead of annual festival

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Burundian musician Jean Pierre Nimbona, popularly known as Kidum, has told the BBC he is confused by Rwanda’s decision to ban him from playing at the upcoming Kigali Jazz Fusion festival.

Kidum is one of Burundi’s biggest music stars and has performed in Rwanda for the past 16 years.

But a police official phoned the musician’s manager to warn that he would only be allowed to make private visits to Rwanda.

“[My manager was told] Kidum is not supposed to perform, tell him to leave. If he comes for private visits fine, but no performances,” the musician told BBC’s Focus on Africa radio programme.

The mayor of Rwanda’s capital said that in this instance permission had not been sought from the authorities for him to perform at the festival in Kigali.

Kidum was a leading peace activist during Burundi’s civil war between 1993 and 2003 and used his songs to call for reconciliation.

The 44-year-old musician said he had never had problems with Rwandan authorities until recently when three of his shows were cancelled at the last minute – including one in December 2018.

That month Burundi had banned Meddy, a musician who is half-Burundian, half-Rwandan, from performing in the main city of Bujumbura.

Kidum said he was unsure if the diplomatic tensions between Burundi and Rwanda had influenced his ban.

“I don’t know, I don’t have any evidence about that. And if there was politics, I’m not a player in politics, I’m just a freelance musician based in Nairobi,” he said.

He said he would not challenge the ban: “There’s nothing I can do, I just wait until maybe the decision is changed some day.

“It’s similar to a family house and you are denied entry… so you just have to wait maybe until the head of the family decides otherwise.”

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