All posts tagged: 114M

Water firms in England and Wales ordered to cut £114m from bills | Water industry

Water companies in England and Wales have been ordered to return £114m to customers through lower bills next year because progress on leakage and sewage spills has been “too slow”. In its annual water company performance report, the regulator Ofwat said the majority of water and wastewater companies were underperforming ontargets set for 2020-2025 to deliver better outcomes, for customers and the environment. Companies are judged against metrics including pollution incidents, customer service and leakage. This year, no company has been ranked in the “leading” category, and 10 companies are in the “average” category, while seven are “lagging” – Anglian Water, Dŵr Cymru, Southern Water, Thames Water, Yorkshire Water, Bristol Water and South East Water. Since 2020, companies have shown some improvement in areas including leakage and internal sewer flooding and all but one company achieved the performance level for unplanned water outages last year. However, progress has been “too slow,” Ofwat said. Over the past year, fewer than half of companies achieved their performance target on reducing pollution incidents and most companies reported an …

Founders Factory Africa to deploy 4M using learnings from past programs

Founders Factory Africa to deploy $114M using learnings from past programs

This week, South African early-stage accelerator and investor Founders Factory Africa (FFA) raised $114 million. The firm plans to use the impact capital from Mastercard Foundation and Johnson & Johnson Impact Ventures “to scale its model to better serve founders across the African tech ecosystem.” FFA combines venture studio and VC models, providing investment and hands-on support for early-stage founders building local solutions to local challenges. Founded in 2018 by Roo Rogers and Alina Truhina, the firm runs its model via programs in partnership with corporates and impact investors. In 2019, FFA partnered with South African healthcare company Netcare to select 35 African health-tech startups for an acceleration and incubation program. The following year, the firm inked a deal with Standard Bank, accepting five startups across fintech and healthtech sectors into its venture program. And in 2021, FFA announced a partnership with Small Foundation, selecting 18 agritech startups for an acceleration and incubation program. The selected startups across the three programs received between $40,000 and $250,000 in cash in exchange for varying equity stakes. In addition to capital, …