- Twenty Ghanaian startups have graduated from the UNICEF StartUp Lab Accelerator, securing GHS500,000 (US$445,000) investment support. Led by UNICEF in Ghana and supported by KOICA under the “KOICA-UNICEF Accelerating Entrepreneurship and Innovation in Ghana” project, the UNICEF StartUp Lab is an…
- In the land of startups, access to finance is the wind that fills their sails, propelling them towards growth and success. It fuels their journey, enabling them to develop groundbreaking ideas, hire top talent, reach customers, and scale their operations. Without it, their dreams remain adrift,…
- Aruwa Capital Management, an early-stage growth equity and gender lens fund, has invested $2 million in a Nigerian confectionery manufacturer, Fastizers. The company plans to become a leading player in the Nigerian snack foods industry. Deborah Lawson started Fastizers in 2010, producing snack…
- Nuru, a solar power startup operating in the Democratic Republic of Congo, has secured more than $40 million in equity funding for projects including the biggest mini-grid in sub-Saharan Africa. The money will be spent on building three so-called metro-grids, which combine solar power with…
- Ghanaian health tech startup Berry Health has raised $1.6 million in a pre-seed funding round. The funding round saw participation from large-scale U.S. fund Lightspeed Ventures and General Catalyst, with the former marking its debut investment in Africa, thereby indicating the rising potential of…
- Abeokuta, Nigeria: In a move set to reshape the landscape of startup fundraising in Africa, GetFundedAfrica, the leading fundraising platform in the region, proudly announces the launch of its groundbreaking AI-powered Customer Relationship Management (CRM) system tailored specifically for startups…
- GetFundedAfrica has recently announced the official launch of the 2023 Investors Readiness Cohort Program, which commenced on the 4th of July, 2023. The program has selected four startups to participate, aiming to equip them with essential skills and knowledge necessary to become investment-ready.…
- Abeokuta, Nigeria: In a move set to reshape the landscape of startup fundraising in Africa, GetFundedAfrica, the leading fundraising platform in the region, proudly announces the launch of its groundbreaking AI-powered Customer Relationship Management (CRM) system tailored specifically for startups…
- MYDAWA, the Kenyan health-tech startup famous for its e-pharmacy platform has received a US $20 million capital injection from private equity investor Alta Semper Capital. Founded in 2016, MYDAWA provides consumers across the region easy access to safe, affordable healthcare products and medical…
- Whether you are an aspiring or established founder, familiarising yourself with and thoroughly understanding key fundraising vocabulary will make you sound like a pro, likely help you lock down investments and leave a lasting impression on potential investors.
The post 14 Basic Fundraising Terms…
- It’s Friday again, and another condensed rundown of noteworthy activities in the African venture capital investment space. Here’s what happened last week. Egyptian Edutech Start-up, Almentor, Raises $10M Egyptian edutech, Almentor, recorded the highest funding round, a $10M, pre-Series C round of…
- Rwazi, a startup specializing in market intelligence, has raised $4 million in seed funding to scale up its platform. The company collects data directly from consumers to provide insights into emerging markets. Rwazi offers information on market size and value, consumer profiles, purchasing power,…
- Kenyan startup TIBU Health has raised an undisclosed amount of pre-Series A funding to allow it to strengthen its solutions dedicated to chronic diseases and improve its virtual care platform. The funding round was led by Health54, the healthcare-focused corporate venture capital arm of CFAO Group…
- Verod-Kepple Africa Ventures (VKAV) has raised $43m as part of its fundraising for its pan-African venture fund. The fund invests in scalable, tech-enabled, post-revenue businesses addressing difficult challenges across various industries on the continent. VKAV’s initial backers include…
- M-Pesa Africa on Wednesday launched a Shared Service Operations Centre (SSOC) in Nairobi to oversee service operations and technical support. This will include incident monitoring and resolution, managing platform changes and upgrades, deployment of new features and capacity management, and…
- Tigo Tanzania, Selcom and Mastercard Inc. have announced a strategic partnership that will see the three industry leaders revolutionize the digital payment ecosystem by enabling convenient online payments globally through the Tigo Mastercard virtual service via Selcom’s card-as-a-service (CaaS)…
- Kenyan insurtech startup Turaco, has partnered with Airtel Mobile and Prudential Assurance to launch a low-cost hospital cash insurance product with Funeral Benefit. Known as ‘Hospital Sente’ the product is, aimed at increasing access to insurance for underserved communities, and low-income…
- Safaricom has confirmed the appointment of Fawzia Ali as its new Chief Consumer Business Officer. Fawzia has been holding the position in an acting capacity since July 2022 after the exit of Sylvia Mulinge who took up a new role at MTN Uganda as CEO. Following her confirmation to the role, Fawzia…
- Amazon Web Services (AWS), the cloud computing division of the world’s largest e-commerce retailer, Amazon, continues to strengthen its footprint in Africa with a call for applications from early-stage startups to join their inaugural edition of the AWS FinTech Africa Accelerator. This program is…
- ENGIE Energy Access — one of the leading off-grid providers in Africa, ENGIE Global Energy Management & Sales (GEMS) – the energy management and sales division of the ENGIE Group, and CarbonClear – a data-driven and innovative carbon offset certification company, will partner in a pioneering…
- University students from Kenya and some parts of Africa can now apply to participate in season 4 of the Microsoft Africa Development Centre’s (ADC) Game of Learners (GOL) competition. The GOL initiative provides an opportunity for African university students, aspiring software engineers and…
- The company was on a mission to digitize commerce for 100 million African retailers, empowering small retailers to do big things. It built a marketplace for apparel merchants to secure inventory and financial services.
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- South African consumers’ appetite for Buy Now, Pay Later (BNPL) payments shows no sign of abating, with local BNPL provider PayJustNow growing its gross merchandise value (GMV) by 260% in 2022. The company generated R747 million of GMV in 2022 while recording ‘exponential growth’ in its customer…
- Global technology company, SLB (formerly known as Schlumberger), officially opened its new West Africa regional office in Lagos, Nigeria. In October 2022, the company launched a new identity focusing on energy innovation and decarbonization to address the world’s energy needs today and to forge the…
- The Board of Directors of the African Development Bank Group has approved a $30 million Trade & SME Finance Facility for Family bank Limited (FBL) in Kenya. The facility is expected to boost intra-Africa trade, promote regional integration and contribute to the reduction of the trade & SME…
- Fintech startup Fin has announced that it has completed the acquisition of South African housing finance provider Thuthukani Housing Finance (“Thuthukani”). This acquisition continues Fin’s expansion into all relevant finance offerings for individuals & SMEs across its markets. With this…
- Yesterday, I couldn’t completely pay the vulcanizer who fixed two of my four tyres. I was strapped for cash and the option of electronic money transfer was out because “Madam, I nor get the account number.” My experience is not a peculiar one; 90 per cent of Nigerians or more have similar tales.…
- Liquid Intelligent Technologies has announced the acquisition of Egyptian-based Cysiv MEA, formerly known as SecureMisr to extend its operations into the Middle East and Africa. Cysiv MEA specialises in providing enterprise cloud and cyber security services to some of Egypt’s leading companies,…
- Credable, a digital banking startup announced that it has raised $2.5 million in a funding round led by Pan-African early-stage VC firm Ventures Platform. Other participants include Launch Africa, MAGIC Fund, ACASIA Ventures, AAIC Investment, Adaverse/Emurgo Africa and other strategic angel…
- Egypt’s Almentor, one of the leading online video learning platforms in Arabic, has raised a US$10M pre-Series C round of funding to accelerate its growth towards its goal of serving 10 million learners in the MENA region. e& capital, the tech investment arm of e&, led the round with…
- Tunisia-based edtech startup Shape has raised an undisclosed amount of funding from The Oman Technology Fund (OTF). Founded in 2021 by Rahma Abid, Shape has developed a digital platform that allows professionals to access continuous learning programs. The platform allows users to develop a…
- The Africa Fintech Summit and US-Africa Trade and Investments Initiative; Prosper Africa have recently announced a new partnership ahead of the Africa Fintech Summit in 2023 set to hold on the 12th of April 2023 at the Walter E. Washington Convention Center in Washington, D.C. The sponsorship…
- VotreChauffeur and VotreColis, two start-ups specialising in mobility and last-mile delivery, have announced that they have raised 2.5 million dirhams ($240K) from Afrimobility, Akwa Group’s Venture Capital fund, which takes a stake in the capital of the holding company that houses the two startups…
- Roam has commissioned a new production facility that will allow for expanded production and have an annual capacity of 50,000 motorcycles while staying a carbon-neutral assembly. The plant, more than 10,000 square meters in size, is part of the company’s effort to scale up commercial mass…
- Nigerian fintech company, OnePipe has raised a $4.8 million debt financing from TLG Capital, it has also laid off at least ten employees and the executive team has taken a pay cut, according to media reports. “Sadly, we are also not immune to the broad industry dynamics and had to say goodbye to a…
- Chari, the leader in digital distribution of Fast-Moving Consumer Goods in Morocco, launches a new chain of B2B stores to meet the needs of local grocery stores. The Chari chain of stores offers a wide range of quality products at competitive prices, designed to help grocery stores improve their…
- 54gene Inc has named Ron Chiarello its new Chief Executive Officer in a series of executive changes to better position the health tech startup for more funding and strategic partnerships. Ron Chiarello brings a wealth of experience which should help 54gene achieve its immediate goals. He has served…
- Kyshi is one of many apps in the FinTech industry facilitating simple, money transfer methods. It is a UK-based, Neo-bank for Africans globally, and the new way to send and receive money to and from Africa.
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- Silicon Valley Bank was a state-chartered, commercial bank headquartered in Santa Clara, California. It failed on Friday, March 10, 2023, with holdings now managed by the Federal Deposit Insurance Corporation. SVB was the 16th largest bank in the United States and the largest bank by deposits in…
- The Japanese Ambassador to Nigeria, Matsunaga Kazuyoshi has disclosed that his country will further strengthen relations with Nigeria across all sectors following the transition to a new administration in 2023 and beyond. Ambassador Kazuyoshi disclosed this at a cocktail event in Abuja to…
- It’s Friday again, and we’re back with another condensed rundown of noteworthy activities in the African venture capital investment space. Inside Kenya’s Supply Chain & Logistics Industry The supply chain and logistics industry is one of the oldest, most essential, and most rapidly evolving…
- Chams Holding Company Plc has notified the Nigerian Exchange Limited and the investing public of the appointment of Mohammed Bashir Yunusa as a Non-Executive Director of the Company Plc with effect from January 1, 2023. Mohammed Bashir Yunusa is a seasoned financial technology professional with…
- The Nigerian government has launched a $618 million fund under the Digital and Creative Enterprises Program (i-DICE) aimed at promoting entrepreneurship and innovation in the digital technology and creative industries. The programme is to support young Nigerians, aged 15 to 35, and who are…
- Wema Bank Plc has announced the commencement of application entries for tech talents across Nigerian universities through its hackathon initiative, tagged “Hackaholics 4.0.” Tunde Mabawonku, the bank’s executive director, of digital services, while speaking on the commencement of the entries for…
- Flutterwave, one of Africa’s leading payments technology companies, has received an electronic money issuer and remittance license from the National Bank of Rwanda, which will expand its payment options in East Africa. The Electronic Money Issuer license allows the company to acquire all payment…
- Less than a year after taking over from Betty Mwangi as Jumia Kenya CEO, Juan Seco has left the company. Juan who has been with Jumia Kenya since 2015, when he joined as Chief Financial Officer has left the e-commerce company to join South African fintech Mukuru. ‘’After 8 incredible years at…
- ALX Africa has announced its first dedicated Software Engineering cohort for women, enabling up to 50,000 women across Africa to acquire software engineering skills. The cohort forms part of ALX’s WomXn and Tech initiative and was inspired by the United Nations IWD theme of DigitALL: Innovation and…
- Zoho has announced the opening of its new office in Westlands, Nairobi in order to cater to its growing customer base in Kenya. The office, which is currently undergoing renovations, will be ready for operations in April and will also house a modern training centre for Zoho’s customers and partners…
- Microsoft has added 13 new African languages to its Microsoft Azure Cognitive Services Translator, enabling text and documents to be translated to and from these languages across the entire Microsoft ecosystem of products and services. Following last year’s release of Somali and Zulu, the latest…
- The board of Dangote Sugar Refinery Plc has appointed Yabawa Lawan Wabi, as an Independent Non-Executive Director. According to a corporate notice signed by the Company Secretary, Temitope Hassan, the appointment was approved by the board at its meeting held on February 28, 2023. Mrs Wabi has…
