Numida, which was founded by three Canadian Y Combinator graduates and operates in Uganda, offers credit to small businesses in Africa. Y Combinator also participated in the debt and equity financing round, along with Soma Capital, Launch Africa, 4Di Capital and others. (Business Insider)
Gross domestic product rose 0.1 per cent, the same rate as June, according to Statistics Canada. It projected a flat August. Meanwhile, employers were looking to fill 964,000 open jobs in July, down by 56,400 month-over-month but up 134,300 year-over-year. (The Logic)
Having to develop, produce, procure and distribute drugs and protective gear to fight COVID-19 led to extraordinary co-operation between the federal government and the private sector, “but the problem is that’s gone,” Oliver Technow said Thursday at the industry’s Bionation conference in Ottawa. (The Logic)
The software service company’s revenue was $168 million in the second quarter for 2022, down from $175 million during the same period last year. However, it delivered $51 million in revenue from Internet of Things, a 28 per cent year-over-year increase. (The Logic)
The RCMP charged the Montreal-based company last week with fraud and bribing a foreign public official, alleging it broke Canadian law in trying to get a contract in the Philippines. (The Globe and Mail)
Athabasca Indigenous Investments, a new consortium of 23 First Nations and Metis communities in northern Alberta, will assume an 11.57 per cent interest in seven Enbridge-operated pipelines under the deal. (The Logic)
The tech giant’s corporate venture arm has decided to stop using the software it relied on as a decision-making tool, multiple sources told Axios. (Axios)
Dave McKay said the federal government hasn’t budgeted enough money to help the private sector reduce carbon emissions to meet climate targets. McKay added that CEOs also need to be more ambitious. “The piece that’s missing is a public-private partnership,” he told the Toronto Star’s editorial board. (Toronto Star)
The new funding program is open to providers with projects costing at least $10 million, and applicants can simultaneously apply for a share of $400 million in grants from Natural Resources Canada. The bank is to be paid back on a sliding scale—more if use of the chargers exceeds expectations, less if it doesn’t. (The Logic)
The report from Bloomberg, citing “a person familiar with his deal-making,” said it’s unclear which of the U.S. crypto billionaire’s companies is considering the bid and whether it would be for some or all of the bankrupt crypto lender’s assets. Celsius owns Bitcoin mining operations and a business for storing and securing cryptocurrency. (Bloomberg)