22 February 2023
- Planet42 to use funds for South Africa and Mexico Expansion Rent-to-buy firm said the Mexican market similar to South Africa Naspers Ltd., an early investor in China’s Tencent and still its largest shareholder, is backing rent-to-buy car firm …
22 February 2023
- UAE-based VC firm 8X Ventures plans to deploy $20 million in the Mena region’s climate tech and cleantech startups. It…
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22 February 2023
- Dillali, the innovative financial record-keeping platform, today announced the successful completion of a bridge round of funding. The round was supported by investors: Raw Ventures, Lemonade Stand, and DF Syndicate. This new investment will help…
22 February 2023
- The HR payroll market across the world is expected to record a compound annual growth rate (CAGR) of 9.2% reaching a $14.31 billion valuation by the close of this decade, buoyed by the increased demand for payroll and other HR solutions. In…
22 February 2023
- Susan Wojcicki, who has served as CEO of YouTube for the past nine years, has decided to step down from her position. She wrote on her blog that she had “chosen to start a new chapter focused on my family, health, and personal projects I’m…
22 February 2023
- Jumba, a Kenyan marketplace for construction materials, has completed a $4.5 million seed funding round. The seed funding comes a year after the company’s initial $1 million in pre-seed funding. LocalGlobe led the funding round, and Enza Capital…
22 February 2023
- The AfricaGoGreen Fund (AGGF) has closed its second fundraising round at $47 million from the International Finance Corporation (IFC), the African Development…
The post AfricaGoGreen Fund secures $47 million in equity investments to finance…
22 February 2023
- RNR, a South African breakdown management startup, has raised US$555,000) to assist its growth and African expansion. RNR is a breakdown management firm with technology that mobilizes a network of nationwide providers to service whole fleets at the…
22 February 2023
- Smile Identity, an Africa-focused firm, has secured a US$20 million Series B fundraising round to aid in its expansion throughout the continent. Costanoa and Norrsken22 served as the round’s lead investors, and 500 Fintech, Commerce Ventures,…
22 February 2023
- Curacel, an AI-powered platform for claims processing and fraud management in Africa, was founded in Nigeria and has raised US$3 million in seed funding to launch new products and support its growth in North Africa. Y Combinator, Tencent, AAF…
22 February 2023
- Naked, a South African insurance technology startup powered by artificial intelligence (AI), has raised US$17 million in Series B funding to fuel its expansion. The German Development Finance Institution (DEG) and Naked’s original investors,…
22 February 2023
- The National Bank of Rwanda (NBR) has ordered all of the country’s banks to cease “all crypto-related activity until a regulatory framework has been put in place.” The NBR’s acting governor, Soraya Hakuziyaremye, defended the organization’s…
22 February 2023
- Terraa, based in Morocco and provides B2B tech-enabled food delivery, has successfully raised $1.5 million in pre-seed funding. FoodLabs, a European early-stage VC investor and venture studio for food, sustainability, and health, took the lead in…
22 February 2023
- Mastercard has launched its Start Path Small Business programme to give startups the chance to collaborate with the company to scale solutions that drive simple, secure digital experiences for SMEs. During the four-month programme, selected…
22 February 2023
- Sendmarc, a leading provider of email and domain security based in South Africa, has secured a US$7 million Series A funding round. Allan Gray E-Squared Ventures, Fireball Capital, Endeavor Catalyst, 4Di Capital, Kalon Venture Partners, Endeavor…
22 February 2023
- Over 1,500 delegates will be convening in Nairobi for the 10th edition of the Sankalp Africa Summit. The two-day summit will be held on the 1st and 2nd of March at the Kenya School of Monetary Studies and is aimed at driving transformative impact…
22 February 2023
- Pade HCM, a human resources technology business in Nigeria, has closed a US$500,000 pre-seed funding round to help it expand its operations. Zrosk IML, Zedcrest Capital, Microtraction, Expert Dojo, and Resilient 17 are among the international…
22 February 2023
- Luxury hotels are expanding in Africa, with Marriott, Radisson Blu and Hyatt leading the way with new developments and acquisitions.
22 February 2023
- Online betting is on the rise, and with it comes an ever-increasing variety of payment methods that customers can use to fund their accounts. From traditional credit cards and debit cards to e-wallets, prepaid cards, and bank transfers, there’s no…
22 February 2023
- South Africa’s Apollo Studios is helping primarily insurance companies leverage technology to build more efficient organisations and automate decision making and workflow management. Launched in 2020 and based in Johannesburg, Apollo Studios works…
22 February 2023
- The Ethiopian government has been planning to sell off 40% of its holdings in Ethio-Telecom, a state-owned telecom company, since 2021. In public records, the Ethiopian Ministry of Finance lauded Ethio-near-monopoly Telecoms in Ethiopia’s…
22 February 2023
- Days after announcing a $530 million investment in Africa, ride-hailing company Bolt has laid off 24% of its Nigerian staff. About 17 of its 70 employees lost their jobs in what the company describes as a restructuring process.
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22 February 2023
- CEO Mark Zuckerberg stated on Instagram that Meta is launching Meta Verified, a new paid subscription service for verification. Instagram and Facebook users on Meta’s platforms can now submit their government ID for a blue verification badge for $…
22 February 2023
- Co-Creation Hub (CcHUB), the largest innovation hub in Africa, is creating a $15 million accelerator program that will be known as The Edtech Fellowship Program. The goal of this program is to back and support 72 startups based in Nigeria and Kenya…
22 February 2023
- Bolt, a ride-hailing service, plans to invest $530 million in its African operations over the next two years. This expansion would allow the firm to hire and train over 300,000 new drivers and couriers by 2023. “During the past seven years, we…
22 February 2023
- The Rice Business Plan Competition 2023 for Student Entrepreneurs, which offers student entrepreneurs practical experience and financial rewards, is now accepting applications. The tournament, which is organized by the Rice Alliance for Technology…
22 February 2023
- BuuPass a B2B2C full-stack marketplace has raised $1.3 million in pre-seed funding to enable operators with a bus management system (BMS) to manage their operations, inventory, and sales. Founders Factory Africa, FrontEnd Ventures, Adaverse,…
22 February 2023
- Qotto, a company that sells solar kits and has operations in Burkina Faso and Benin, has secured $8 million in a Series A equity-debt round. In addition to the Off-Grid Energy Access Fund (FEI-OGEF), Cordaid, and Qotto’s current investors, the IBL…
22 February 2023
- SC Ventures, Standard Chartered’s innovation, fintech investment, and ventures arm has entered into a memorandum of understanding (MOU) with Yabx BV, a company incubated by Comviva and part of the...
The post SC Ventures Partners With Yabx To Offer…
22 February 2023
- Innovation and capital are two essential factors that play a critical role in driving economic growth and development in Africa. The continent has immense potential, and with the right investments in innovation, Africa can achieve its full…
21 February 2023
- The Central Bank of Nigeria (CBN) is reportedly in talks with blockchain firm R3 to develop a new system for its digital currency, the eNaira, with the aim of keeping full control of the initiative.eNaira, which is Nigeria's first digital version…
21 February 2023
- Bangladesh’s smartphone shipments declined 23% YoY in 2022, according to the latest research from Counterpoint.The market intelligence group highlighted, weak consumer demand, rising inflation, global supply chain disruptions, increased import…
21 February 2023
- Kenyan HR payroll startup Workpay has raised $2.7 million in a pre-Series A funding round to expand its services in 40 African countries, almost double its current reach.Launched in 2019, Workpay offers tools for employers to manage employees' time…
21 February 2023
- Dash, a fintech company in Africa that offers a unified payments system for mobile money and traditional bank accounts, has suspended its founder and CEO, Prince Boakye Boampong, pending an investigation into possible financial wrongdoing,…
21 February 2023
- After a two-year suspension, Meta Platforms has reinstated former US President Donald Trump’s access to Facebook and Instagram, according to Meta spokesperson Andy Stone. After determining that Trump’s accounts posed a significant risk of further…
21 February 2023
- LAfrica’s biggest innovation hub, Co-Creation Hub (CcHUB), has started “The Edtech Fellowship Program,” a $15 million accelerator program. A statement from the company says that it will back and help 72 startups in Nigeria and Kenya for the next…
21 February 2023
- Keeping with its theme of being unoriginal, Meta has copied Twitter Blue and is rolling paid blue badges which is the Meta Verified subscription service that gives you a verified checkmark next to your username on either Facebook or Instagram. It’s…
21 February 2023
- Chari, a business-to-business (B2B) e-commerce startup based in Morocco that offers embedded financing for the fast-moving consumer goods (FMCG) industry, has just raised $1 million. The additional US$1 million in funding was provided by Orange…
21 February 2023
- Several sources who spoke to TechCabal say that the layoffs happened despite a recent promise of job security from the company’s CEO Markus Villig
21 February 2023
- Blockfinex, a cryptocurrency exchange based in Barbados and Seychelles, has bought a 100% stake in the Nigerian cryptocurrency payment gateway startup Fluidcoins. The deal is said to be Nigeria’s first acquisition of 2023 and the country’s first…
21 February 2023
- In a seed funding round, the Kenyan construction tech startup Jumba raised $4.5 million to grow its one-stop marketplace for buying building materials. The B2B platform makes the supply chain easier by letting stores that sell building materials…
21 February 2023
- The AfricaGoGreen Fund (AGGF) made headlines today when it announced that its second fundraising round was a success. It raised $47 million from the International Finance Corporation (IFC), the African Development Bank (AfDB), the Nordic…
21 February 2023
- As the industry adjusts to increasing levels of cybercrime, insurers are increasing premiums and becoming more strict about whom they will insure. However, if organisations don’t meet even the minimum requirements of security and data protection,…
21 February 2023
- Ride-hailing company Bolt has reportedly laid off 20 staff members from its Nigerian subsidiary, Bolt Nigeria, according to anonymous sources within the company.The layoffs come a day after Bolt announced plans to recruit 326 new staff globally,…
21 February 2023
- The European artificial intelligence (AI) market is expected to grow despite the global inflationary environment, geopolitical tensions in Ukraine, IT budget cuts, and macroeconomic uncertainty, based on projections by the International Data…
21 February 2023
- The economic fortunes of Kenyans in the diaspora have significantly improved in recent years, with diaspora remittances or money sent back home by Kenyans living abroad steadily rising to become...
The post Relocating Abroad: Key Things You Need To…
21 February 2023
- In this interview for TechCabal, Noel K. Tshiani,(@NoelTshiani) of Congo Business Network, interviews Fidèle Nsadi about his foray into the fintech space in Kinshasa.
21 February 2023
- The United States ranks as the most Bitcoin-obsessed country in the world, according to a new study. Nigeria, is the...
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21 February 2023
- The recent Naira redesign in Nigeria has led to cash scarcity. So most Nigerians have had to rely heavily on internet transfers and POS transactions. But this has led to an increased rate of failed transactions. So here are ways to reduce failed…
21 February 2023
- Security software and hardware company, Sophos, today announced the expansion of its next-generation firewall portfolio with two new high-end, enterprise-grade...
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