- After serving an eight-year term as the governor of Kaduna State, Nasir El-Rufai has revealed his intention to establish a $100 million fund with the goal of expanding startup investments in Nigeria outside of Lagos.. This fund will be managed from Nigeria’s capital city, Abuja, with El-Rufai…
- AfriLabs, one of Africa’s leading tech innovation organizations hosted the 8th edition of its Annual Gathering in Kigali, Rwanda. For the last 8 years, AfriLabs has hosted the Annual Gathering unfailingly to revolutionize the innovation and technology ecosystem, providing support to startups and…
- For 8 consecutive years, AfriLabs has served as an avenue for members of the innovation community to leverage their vast network of African technology and innovation ecosystem through Its Annual Gathering. As a testament to AfriLabs’ effort to reshape the future of African innovation, The AfriLabs…
- Dakar Mobility, a pioneering Senegalese firm co-owned by Meridiam and the Sovereign Strategic Investment Fund of Senegal (FONSIS), has achieved a remarkable milestone by securing €135 million in funding. This investment, the first of its kind in Sub-Saharan Africa, will be used to establish a 100%…
- LeapFrog Investments, a distinguished firm known for merging profit with social purpose, has successfully secured a $500 million investment to advance its bold climate investment initiative in Africa and emerging Asia. This significant funding is provided by Temasek and has received backing from…
- The Cameroonian health tech startup Waspito recently raised an additional $2.5 million seed funding. This round was led by DP World through Newtown Partners, alongside contributions from Saviu Ventures, AAIC Investment, Axian Ventures, and CFAO’s Health54. This funding is aimed at accelerating…
- SA innovation offers high-tech solution to energy crisis: smart geyser devices integrated into household solar systems could significantly decrease residential load on Eskom, with potential to reduce household electricity bills by 80% Based on the data provided by a successful 12-month case study,…
- TomorrowNow is on the brink of a breakthrough in climate adaptation for 20 million farmers across Africa, bolstered by an additional $5 million grant from the Bill & Melinda Gates Foundation. This new funding is set to enhance TomorrowNow’s leading program, Osiris, which aims to utilize the…
- In the evolving landscape of global payments, a notable trend towards deglobalisation has taken center stage. This phenomenon, gaining momentum alongside the BRICS countries’ departure from SWIFT, is the transformative rise of Universal Payment Systems (UPS). This paradigm shift is fundamentally…
- Morocco-based B2B e-commerce startup Chari, which offers embedded financing solutions for the FMCG sector, has secured funding from UM6P Ventures, the investment arm of Mohammed VI Polytechnic University. UM6P Ventures, the investment fund of Université Mohammed VI Polytechnique (UM6P), is…
- Kenyan startup, Aquarech, has secured $1.7 million in equity funding to empower small-scale fish farmers in Kenya with its innovative mobile app platform. The company operates from Kisumu, founded in 2019 by CEO Dave Okech alongside co-founders James Odede and Joseph Okoth. Aquarech’s primary goal…
- Vula, a fundraising assistant, revolutionizes the fundraising journey for entrepreneurs. By simply inputting their website URL, users leverage the power of AI to generate tailored funding applications. Founded in 2022 by Nicholas Rawhani and Alex Goff, Vula aims to ease the fundraising challenges…
- StarNews Mobile, a leading mobile video network in Africa headquartered in Ivory Coast, recently secured $3 million in a funding round. Janngo Capital spearheaded this round, notably including investments from three French professional footballers. The athletes involved are Aurelien Tchouameni,…
- South African startup JOBJACK, specializing in entry-level recruitment, has secured ZAR45 million (approximately US$2.5 million) in a pre-Series A funding round. The round was led by NEXT176, with participation from the Michael & Susan Dell Foundation. Founded in 2018 by Christiaan van den Berg…
- South African insurantech Pineapple recently completed a Series B funding round, securing ZAR400 million (approximately US$21.3 million). New investors led this round, including Futuregrowth, Talent10, and MIC. The company also received continued financial backing from its existing investors, such…
- In today’s dynamic entrepreneurial environment, founders often grapple with the challenge of retaining control over their companies while acquiring essential investments for expansion. This issue is especially prominent now, marked by increased difficulties in securing capital. As a result, this…
- Wayup, a leading online sports equipment retailer in Egypt, has secured seed funding to fuel its growth in the region, launch its brand, and enhance the user experience on its website and app. The funding round, the amount of which remains undisclosed, was spearheaded by Index Sports Fund, Beltone…
- Aduna Capital, a venture capital firm based in Africa, has recently launched a $20 million fund focused on the Northern Nigerian startup ecosystem. Surayyah Ahmad, the General Partner at Aduna Capital, and co-manager Sanusi Ismaila are enthusiastic about this initiative. They are keen to identify…
- In Nairobi, Kenya, nestled in the city’s dynamic heart, Pippy Leather Works is a testament to growth and resilience. This small enterprise, known for its exquisite leather products, employs mostly local women. Initially, Pippy Leather faced challenges in expanding its market presence and…
- For the past two weeks, users in Kenya have been facing a disruption in accessing Telegram, a popular messaging app with a user base of over 700 million monthly active users. The issue, which has predominantly affected daytime users, coincides with the period of the country’s ongoing college…
- Kenya has chosen Microsoft as its primary cloud partner in an ambitious move to shift its government services to the Azure cloud platform, outperforming competitors like Amazon and Google. This partnership is expected ⁷to significantly enhance Kenya’s efforts in digital transformation. The ICT…
- To fuel its expansion ambitions, South African agritech startup Khula has secured an investment from a fund backed by PepsiCo, the details of which remain undisclosed. This strategic investment represents a significant milestone for Khula, as it aligns with their mission to empower farmers by…
- Theofrida Muginga, a young female student at the University of Rwanda, spearheads the creation of ‘Mkulima GPT,’ a Swahili chatbot powered by ChatGPT. This innovative project aims to empower smallholder farmers by detecting crop diseases and offering culturally sensitive agricultural guidance.…
- On Monday, the German government made a significant commitment, pledging to invest 4 billion euros (approximately $4.37 billion) in green energy projects across Africa by the year 2030. This announcement was made during a news conference held during the G20 Compact with Africa summit in Berlin.…
- A significant challenge stands out in the ever-evolving landscape of African international trade: Only 30% of trade volumes are supported by financial intermediaries in banks. This substantial gap in financing has a disproportionate impact on small and medium-sized enterprises (SMEs), as larger…
- Ed Partners Africa, a Kenyan non-banking financial institution focusing on loans for affordable private schools, recently announced securing a US$10 million loan guarantee facility from the United States’ Development Finance Corporation (DFC). This move aims to improve access to affordable…
- Nawah Scientific, a prominent Egyptian scientific research and analysis institution, has recently achieved a significant feat by securing accreditation from the U.S. Food and Drug Administration (FDA) for its food analysis and safety procedures. This landmark achievement marks Nawah Scientific as…
- OpenAI has announced that its voice feature is now accessible to all users at no cost. In a recent post on X (formerly Twitter), the company revealed that users can simply tap the headphones icon in the mobile app to engage in voice-based conversations with ChatGPT and receive audible responses.…
- M-KOPA has initiated its pilot operations in South Africa, marking the commencement of its expansion across the continent. This move comes five months after the company secured a substantial $250 million in debt and equity funding. Known for pioneering the pay-as-you-go model for solar panels and…
- Stitch, a South African fintech firm, recently launched a unique payment solution based on cryptocurrency, “Pay with crypto.” This innovative service allows users to make payments directly from their cryptocurrency wallets. With this new payment method, Stitch is aligning with the growing trend of…
- InDrive, the ride-hailing service that has gained popularity in Latin America and Asia, recently introduced its new division, New Ventures. This branch is set to invest as much as $100 million in emerging market startups over the coming years. This strategic move comes just four months following…
- In the third quarter of 2023, Jumia reported a significant reduction in its adjusted EBITDA loss, reaching $15 million. This figure represents the company’s lowest loss since its initial public offering in 2019. It shows a marked improvement from the $27 million loss in the first quarter and the $…
- African non-profit DevCareer has partnered with Block’s TBD to bring Web3 technology to Africa through the continent’s first Web3 hackathon. TBD provides tools aiming to open decentralized finance to all developers. The DevCareer hackathon allows participants to explore Web3 and build autonomous…
- Nigerian online grocery startup Pricepally has secured $1.3 million in seed funding to expand its operations. Backers include returning investor Samurai Incubate and new investors SOSV, ELEA, Hi2 Global and Chui Ventures. Pricepally will use the capital to move beyond its current 3 cities and…
- Global technology company Zoho announced 50% growth in Nigeria in 2022. The company also partnered with StartupSouth, an organisation supporting startups in southern Nigeria, through Zoho’s startup program. Additionally, Zoho is offering its contract management solution, Zoho Contracts, free for…
- South African state-owned utility Eskom has switched on Africa’s biggest battery energy storage facility as it works to end the country’s ongoing electricity shortages. The utility said the Hex Battery Energy Storage System in Worcester, Western Cape can store enough energy to power a town of 100,…
- The African Export-Import Bank (Afreximbank) has announced plans for a $1 billion African Film Fund to support and finance the continent’s film sector. Kanayo Awani, Afreximbank’s Executive Vice President, revealed the fund at the 2023 CANEX Summit during the third Intra-African Trade Fair (…
- Togo-based startup Gozem, which offers on-demand transportation and delivery services via its app, has acquired Benin fintech company Moneex. The move aims to strengthen Gozem’s capabilities and support its plans to launch a mobile wallet service in Togo and Benin. Gozem did not disclose the value…
- Innovative Nigerian fintech Raenest has partnered with the Africa Tech Summit Nairobi as the headline sponsor for the 2024 event. Raenest will help promote African tech ecosystem growth, creativity and collaboration at the summit. The 6th Africa Tech Summit Nairobi, powered by Raenest, will occur…
- TikTok is nurturing Nigerian creators’ talents through its #LevelUpAfrica program, which unlocks creative potential and builds personal brands. Launched in 2021, the initiative provides educational workshops, mentorship, networking and financial support. “TikTok #LevelUpAfrica aims to be Nigeria’s…
- Nigerian home services startup Eden Life has rebranded and launched a new e-commerce marketplace to transform retail in the region. The new Eden Marketplace will offer categories like groceries, pharmaceuticals, electronics and beauty products. This expands on Eden Life offerings such as laundry,…
- Africa’s leading fintech, Flutterwave, continues its expansion across the continent with a new International Money Transfer Operator (IMTO) license in Malawi. Flutterwave will leverage the license to enable seamless cross-border money transfers via its Send app. “Helping Africans navigate global…
- Shekel Mobility, a fintech for auto dealers in Africa, has raised $7 million to boost car sales on the continent. The round includes $3.2 million in equity and over $4 million in debt financing. Investors like Ventures Platform, Y Combinator and PageOne participated. “This investment significantly…
- Nigerian edtech startup AltSchool Africa will receive support from Rwanda’s $30 million innovation fund for its next growth phase. The fund aims to position Rwanda as a tech leader in Africa. AltSchool, which provides online coding and skills training like US bootcamp BloomTech, will get strategic…
- Google has expanded its artificial intelligence-powered search experience, Search Generative Experience (SGE), to over 120 countries including Kenya, Nigeria, South Africa, Brazil and Mexico. SGE aims to make searching the internet easier by providing AI-generated overviews like summaries and…
- Networks (AMN), has made significant strides in enhancing telecommunication services across Africa. They have installed over 3,000 rural satellite base antennas, positively impacting over 8 million people with new telecommunication services. AMN, a group of companies specializing in building,…
- The resurgence of The Beatles through a newly AI-produced song has sparked excitement in the music world. This innovative AI technique merges parts of old recordings and enhances their sound quality. However, there’s a flip side to this technological advancement. The same AI capabilities could be…
- South African proptech firm Neighbourgood announced the acquisition of Cape Town-based travel tech startup Local Knowledge. The deal, a combination of cash and equity, is valued at $1.5 million. Neighbourgood’s statement, as reported by Bendada.com, emphasizes the synergy of this acquisition: “…
- Nigeria’s communication, innovation, and digital economy minister, Bosun Tijani, has launched an ambitious project to train 3 million technical professionals within the next four years. This initiative, unveiled on Wednesday, aligns with President Bola Tinubu’s objective to create a million tech…
- Uber South Africa aims to reach zero emissions by 2040. The company took a step towards this goal by announcing the addition of electric scooters, known as e-scooters, to its delivery service Uber Package. The announcement came during an event in Johannesburg celebrating Uber’s 10 years in South…
