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- What’s this about? Egyptian fintech startup Bokra, known for its goal-based investment platform, partners with Dahab Masr to launch “bokra Dahab”, a platform that enables users to invest in precious metals like gold, silver, and platinum. Bokra’s app utilizes asset-backed securities for…
- What’s this about? The African Development Bank has invested $1.44 billion to enhance Nigeria’s energy, transport, water, and sanitation infrastructure. This investment, announced at the Nasarawa Investment Summit 2024, is part of a broader effort to address Nigeria’s significant infrastructure…
- What’s this about? GOGO Electric, formerly Bodawerk, raised $1.6 million from the EU-funded ElectriFI to enhance Uganda’s e-mobility sector with sustainable solutions, including local battery production and a battery swapping network. ElectriFI’s investment marks its first venture into e-mobility,…
- What’s this about? Busbud, a Canadian travel booking platform, has acquired South African revenue management software Ratality to expand its reach and enhance its B2B services. The acquisition will integrate Ratality’s advanced features, such as demand forecasting and dynamic pricing, into Busbud’s…
- What’s this about? Egyptian eFinance Investment Group (EFIG), a digital and financial investment firm, has purchased a 25% share in Al Ahly Momkn and a 13% share in EasyCash, both located in Egypt. According to the company, these transactions aim to simplify digital payments for individuals and…
- What’s this about? BasiGo, a Nairobi-based electric vehicle startup, secured a $10 million loan from the U.S. International Development Finance Corporation (DFC) to revolutionize public transport in Kenya by procuring and selling electric buses and batteries. The $10 million loan, part of a larger…
- What’s this about? M-KOPA secured a $51 million loan from the U.S. International Development Finance Corporation to enhance digital connectivity in Kenya by providing affordable smartphones to underserved communities. The funding was part of a larger $250 million package announced during President…
- What’s this about? Birdnest, a leading proptech startup, has closed a substantial pre-Series A funding round, selling a 20% stake to investors including Beltone Venture Capital and CI Venture Capital. The funds will be used to expand Birdnest’s regional quality team, enhance its proprietary…
- What’s this about? Liquid Intelligent Technologies has partnered with Eutelsat Group to introduce enterprise-grade Low Earth Orbit (LEO) satellite services across Africa, enhancing connectivity with low-latency, high-bandwidth solutions. The integration of the OneWeb LEO satellite network with…
- Orca, a South African fintech startup founded by Thalia Pillay and Carla Wilby, raised $550,000 in a pre-seed round to develop effective fraud prevention tools tailored for emerging markets. The funding round, led by Norrsken22 with contributions from various investors, will enable Orca to expand…
- What’s this about? Egyptian startup OneOrder raised $16 million in Series A funding led by Delivery Hero Ventures, to expand its tech-enabled food and beverage supply platform into the GCC region. Founded by Tamer Amer and Karim Maurice, OneOrder simplifies supply chain management for the food and…
- What’s this about? Afreximbank and MobiHealthCare have forged an agreement to advance telemedicine services in Nigeria and explore expansion into Egypt, Ghana, Kenya, and Cote d’Ivoire, leveraging a project preparation facility of up to $1.5 million. This initiative aims to establish a network of…
- What’s this about? The Obuntu Foundation partners with Mennonite Economic Development Associates (MEDA) to provide comprehensive support to emerging African fund managers through the Obuntu Launchpad Program, offering tailored training, mentorship, and access to a collaborative network. Industry…
- What’s this about? Telecom Egypt and Huawei Cloud are launching Huawei’s first locally based public cloud platform in Egypt and Northern Africa to support Egypt’s digital transformation strategy. The platform will provide seamless connectivity to over 60 countries through Telecom Egypt’s data…
- What’s this about? Microsoft and G42 are investing $1 billion to establish a green data centre in Kenya’s new East Africa Cloud Region, advancing the country’s digital transformation and enhancing connectivity across East Africa. The partnership includes the development of local-language AI models…
- What’s this about? d.light has received a $3.4 million grant from Private Sector Foundation Uganda (PSFU) and Energising Development (EnDev) to provide 10,000 subsidized solar home systems to refugees in Northern and Western Uganda as part of a larger initiative to supply 23,000 units. The grant is…
- What’s this about? Two Egyptian startups and one Tunisian venture are among the eight selected for the Saudi-based Mega Green Accelerator, launched by PepsiCo, SABIC, and AstroLabs, to develop and scale innovative climate solutions. The six-month program will provide the selected startups with…
- What’s this about? Visa has selected over 20 African fintech startups for the second cohort of its Africa Fintech Accelerator program, offering them 12 weeks of mentorship, training, and opportunities for funding and development. The second cohort includes startups from 28 African countries, with…
- What’s this about? The Republic of the Congo is building a state-of-the-art data centre in Brazzaville, funded by a €66.55 million investment from the African Development Bank and the Congolese government, to serve as the national data hub and enhance digital infrastructure. The project includes…
- What’s this about? Spiro secured a $50 million debt facility from Afreximbank to enhance sustainable transportation and expand its electric vehicle operations across Africa. The partnership will support Spiro’s development of an integrated EV ecosystem, including battery swapping and direct…
- What’s this about? Cash for Microfinance, based in Egypt and a subsidiary of Beltone Holding, has joined forces with Microfinanza Italia to launch a $2.4 million project to support and empower Egyptian entrepreneurs economically. This partnership catalyses the success of startups and small…
- What’s this about? OpenseedVC, launched in 2024, has reached the first close of its $10 million fund aimed at supporting early-stage startups in Africa and Europe, focusing on founders with strong domain expertise. The London-based VC firm plans to invest up to $150,000 in sectors such as B2B…
- What’s this about? Accion has launched the $152.5 million Accion Digital Transformation Fund (ADTx) to support financial institutions in providing digital financial services to underserved small businesses globally. Managed by Accion Impact Management, the fund will invest in companies serving…
- What’s this about? Flutterwave has been named to CNBC’s prestigious 2024 Disruptor 50 list, recognized for its groundbreaking advancements in the fintech sector alongside companies like OpenAI, Stripe, and Monzo. The company’s inclusion in the list underscores its innovation and expansion,…
- What’s this about? Axmed raises $2 million in seed funding, led by Founderful Ventures, for expanding its B2B marketplace in Africa and the Caribbean, totalling $7 million with prior Bill and Melinda Gates Foundation grants. The funds will boost Axmed’s expansion, engineering, business development…
- What’s this about? Egypt and Italy collaborate to establish an AI centre in Cairo, aiming to position Egypt as a leading technology hub in Africa. Italy’s Minister of Economic Development, Adolfo Urso, announces plans for the AI centre during a meeting in Cairo, emphasizing the strategic…
- What’s this about? Moniepoint has been recognized by the Financial Times as Africa’s fastest-growing fintech for the second consecutive year, achieving remarkable growth and ranking among Africa’s top four fastest-growing companies overall. With growth rates of 7,979% (absolute) and 332% (CAGR),…
- What’s this about? IFC commits $150 million to four projects spanning healthcare, finance, and trade sectors in Egypt and Africa, targeting small businesses and mid-cap companies to stimulate economic development. Initiatives include advisory support for expanding universal healthcare coverage in…
- What’s this about? Haier Smart Home has inaugurated the Egypt Ecological Park, signalling a significant expansion in the Middle East and African markets and a milestone in its global growth strategy. With a focus on energy efficiency and digital innovation, the Egypt Eco-Park is set to create over…
- What’s this about? Access Bank, in collaboration with Mastercard, launches an innovative solution to enhance cross-border payments and remittances, aiming to bring Africa closer to the global economy. Leveraging Mastercard Move’s network and treasury capabilities, Access Bank’s Access Africa…
- What’s this about? South African BNPL provider PayJustNow partners with alternative lender Merchant Capital to offer retailers quick access to working capital through PayJustNow Advance, aiming to support economic growth and job creation. With over 1.3 million customers, PayJustNow is South Africa’…
- What’s this about? MEST Africa announces the selection of 12 innovative startups for the inaugural Mastercard Foundation EdTech Fellowship in Ghana, aimed at providing critical support to African EdTech companies for scaling and impact in education. The selected companies represent a diverse range…
- What’s this about? The Nigerian government plans to establish the Nigerian Startup House in San Francisco, USA, aiming to boost the country’s presence in the global technology landscape and attract foreign investment. The Startup House initiative aligns with Nigeria’s strategic blueprint to enhance…
- What’s this about? GTCO, the holding company of Guaranty Trust Bank, plans to list additional shares on the Nigerian and London Stock Exchange to raise $750 million, aiming to surpass a new working capital requirement set by the Central Bank. Despite GTCO’s preference for the NGX, doubts linger…
- What’s this about? OmniRetail, a Nigerian B2B e-commerce startup, clinches the top spot as Africa’s fastest-growing company, with a remarkable revenue growth of 772.39% in 2022 to $139.8 million. Mauritian Kyosk Digital, a B2B platform that connects retailers to FMCG manufacturers, was ranked…
- What’s this about? Maad, a Senegalese B2B e-commerce startup, secures $3.2 million in debt-equity funding, led by Ventures Platform and other notable investors, to expand its presence in and across the Francophone region. The funding enables Maad to develop further its end-to-end distribution…
- What’s this about? Stanbic Bank is a vital link for Kenyan businesses, facilitating connections and transactions in the complex Chinese market landscape, mitigating risks and enabling seamless trade. Stanbic Bank empowers Kenyan enterprises to navigate international trade complexities and…
- What’s this about? NoOnes, the financial communication super app, has achieved over 200,000 downloads in just over a year since its launch in April 2023, with a significant surge in daily downloads and user signups, particularly in Africa. The platform’s growth is driven by its diverse features,…
- What’s this about? Glint, an investment firm in Egypt, has announced the first close of its second venture fund at $3 million, with a focus on supporting startups through its proprietary venture studio model. Anchored by Wadi Degla Group, Glint Fund II aims to invest between the Seed and Series A…
- What’s this about? Airtel Africa plans to take its mobile money unit public in 2025 as part of its expansion into more African countries. The company is currently active in 14 nations, with CEO Olusegun Ogunsanya confirming the IPO timeline. Despite challenging macroeconomic conditions leading to…
- What’s this about? Google.org is extending $250,000 in relief grants to aid Kenyans affected by catastrophic floods, accompanied by SOS alerts and Search Ads to disseminate vital information and resources during this crisis. The severity of the flooding disaster has left the country with 228 lives…
- What’s this about? ABO Capital, an investment firm in Angola, has launched the Amity Training Centre in Luanda, aiming to nurture professional talent and support economic growth in the region. Led by Zandre Campos, ABO Capital focuses on various sectors, including education and technology, with the…
- What’s this about? Kubik, an Ethiopian startup, recently secured $5.2 million in seed funding and now plans to expand its innovative approach of transforming hard-to-recycle plastic waste into affordable, low-carbon building materials across Africa, addressing the continent’s housing and waste…
- What’s this about? MNZL, an Egypt-based fintech firm, has successfully raised $3.5 million in a Seed funding round. The funding was led by P1 Ventures, Localglobe, and Ingressive Capital, with additional support from 500 Startups, Flat6Labs, First Circle Capital, ENZA Capital, Beenok, and other…
- What’s this about? Kenyan e-commerce startup tappi collaborates with the Kenya National Chamber of Commerce and Industry (KNCCI) to provide digital services tailored for 30,000 MSMEs, including business landing pages and text marketing capabilities. Through a Memorandum of Understanding (MoU) with…
- What’s this about? Co-creation Hub (CcHub) has selected 12 innovative ed-tech startups for the second cohort of the Mastercard Foundation EdTech Fellowship, offering support and funding to drive change in Africa’s education sector. The fellowship, launched with a US$15 million initiative in Kenya…
- What’s this about? Gebeya Inc and D!NK Multimedia PLC forge a strategic partnership to revolutionize talent management and multimedia services in Ethipia and across Africa. D!NK Multimedia PLC integrates Gebeya’s Talent Cloud technology to enhance talent acquisition and management capabilities,…
- What’s this about? TotalEnergies’ fourth annual Startupper of the Year Challenge aims to reward 100 African startups, highlighting the company’s commitment to innovation and entrepreneurship on its 100th anniversary. Open to young Tanzanian entrepreneurs aged 18 to 35, the challenge supports…
- What’s this about? Adumo, a major South African fintech player, is being acquired by Lesaka for ZAR1.59 billion (US$85.9 million), forming a powerhouse in Southern Africa’s payments sector. The merger combines Adumo’s 23,000 merchants and ZAR24 billion (US$1.3 billion) throughput with Lesaka’s 1.7…
- What’s this about? MoneyHash and Visa have joined forces to enhance digital payment experiences in the Middle East and Africa, leveraging Visa’s advanced payment solutions and global reach. Through this collaboration, MoneyHash gains access to Visa’s suite of digital payment technologies, including…
