- Kenyan startup BasiGo, specializing in electric bus solutions, has secured a $3 million equity investment from CFAO Group to bolster its production expansion in Rwanda and Kenya. CFAO, a prominent company with a strong foothold in over 40 African countries and the largest automobile distribution…
- Float, a South African fintech startup, has secured an $11 million funding facility from Standard Bank. This investment will be used to launch its card-linked installments platform and to support its ambitious growth objectives over the next four years. Customers can easily access our services…
- In a significant move to enhance the safety and independence of adolescents, Uber has announced the rollout of its Uber Teen Accounts across South Africa. This innovative feature provides families with a tailored solution, enabling parents and guardians to grant their teenage children (aged 13-17)…
- In a significant move, the French broadcasting group Canal+ has significantly increased its shareholding in the MultiChoice Group, taking its stake beyond 40% for the first time. This development has triggered a mandatory offer for the remaining shares in the JSE-listed broadcaster. According to a…
- Elon Musk’s satellite internet company, Starlink, is facing a series of setbacks in its quest to expand its services across Africa. The latest development comes from Zimbabwe, where the government has ordered the company to shut down its operations in the country. According to a communication sent…
- Airtel Africa, the second-largest mobile network operator in Nigeria, has announced a significant move to buy back 8.6 million ordinary shares from Citigroup Global Markets Limited. This decision is part of a broader share buyback plan that the company initiated in February 2024. The primary…
- RNR, a South Africa-based breakdown management startup, has secured ZAR12 million (US$640,000) in funding to bolster its team and scale its operations across Southern Africa. HAVAÍC, a prominent South African venture capital firm, spearheaded the startup’s funding round in February 2023, raising…
- In a strategic move to revitalize slowing computer sales, Apple is gearing up to revamp its entire Mac lineup by introducing a new suite of in-house processors tailored to showcase the power of artificial intelligence. The company, which recently launched its first Macs featuring M3 chips, is…
- Transaction Capital’s subsidiary, WeBuyCars commenced trading on the JSE, marking the first of 10 anticipated listings this year. Shares of WeBuyCars debuted on the market at R20 per share, surpassing the initial public offering price of R18.75 per share. Another cannabis firm, Cilo Cybin Holdings…
- Meta Platforms, the parent company of Facebook, has initiated an anti-hate speech and misinformation campaign in South Africa. The campaign will be featured on its platforms and broadcasted on local and national radio stations. As part of its ongoing commitment to safeguarding the integrity of the…
- In a groundbreaking development, Nigeria has made history by being the first country to introduce the Men5CV vaccine, as recommended by the World Health Organization (WHO). This vaccine provides protection against five strains of the meningococcus bacteria. The initiative, including the emergency…
- In a move to broaden its reach and connect cultures through a multilingual digital library, the French-based digital reading platform, YouScribe, has partnered with Digital Virgo and MTN to launch its services in Ghana. The digital reading library’s expansion into Ghana is an ambitious step, as the…
- In a significant move aimed at attracting skilled remote workers, the South African government has signed its digital nomad visa regulations into law. This milestone marks a pivotal step in the country’s quest to harness the potential of the burgeoning digital nomad community. The digital nomad…
- Schneider Electric Kenya is dedicated to fostering the next generation of sustainable energy leaders through its Scholar Grid Challenge initiative. The Scholar Grid Challenge, held at PC Kinyanjui Technical Training Institute, convened trainees for a rigorous competition aimed at designing a 10kVA…
- Mastercard and Women’s World Banking have recently unveiled an enhanced collaboration to bolster support for female entrepreneurs throughout the Middle East and Africa (MEA) region. This strategic partnership is geared towards generating one million employment opportunities for women by the year…
- Huawei Cloud has recently initiated a program in Nigeria, committing to provide $10 million in cloud credits to assist 100 Nigerian startups over the next two years. Huawei announced its commitment at the Huawei Cloud Startup Summit in Lagos on April 3, 2024. The summit brought together over 150…
- Amid escalating electricity prices, inflation, and persistent worries about loadshedding, households in South Africa are keeping a vigilant eye on their spending. Groceries stand out as a significant portion of this expenditure, making up 28% of incomes for South Africans, as reported by FNB.…
- Amazon Web Services, Inc. (AWS), a subsidiary of Amazon Inc. (NASDAQ: AMZN), has unveiled AWS Deadline Cloud, a comprehensive managed service designed to streamline the setup, deployment, and scalability of rendering projects within minutes. This service empowers customers to enhance the efficiency…
- Roam, a Kenyan-based electric mobility pioneer, has recently formed a strategic partnership with Mogo, a leading asset financier in East Africa. This collaboration is a significant milestone in promoting the use of electric motorcycles in Africa. It aims to empower individuals to transition to…
- Saad Kassis Mohamed, at the helm of WeCare, has joyfully announced the securing of $350,000 in funding, aimed at propelling forward innovation within the lab-grown diamond industry. This critical injection of funds represents a key turning point in the foundation’s dedication to promoting…
- The African gaming industry is on the cusp of a remarkable transformation, with a new report from Geopoll and the Pan Africa Gaming Group (PAGG) shedding light on the evolving player preferences and behavior across the continent. The findings from this extensive player-focused research, which…
- In a move aimed at bolstering Africa’s burgeoning technology landscape, the International Finance Corporation (IFC) has announced a $10.5 million investment in a new fund by 4DX Ventures, a New York-based venture capital firm. This strategic partnership seeks to empower early-stage African tech…
- BURN Manufacturing, a global leader in producing, distributing, and developing carbon projects for clean cookstoves, has announced the successful acquisition of a subsequent carbon project investment from Key Carbon Ltd. (previously known as CNR “Carbon Neutral Royalty” and hereafter referred to as…
- Yango Delivery, a tech firm offering a platform for making and receiving local delivery requests, has launched Cargo Express, a new service aimed at facilitating the transport of large and heavy items throughout Africa. This service addresses the vital need in the fast-expanding e-commerce market…
- CMC Networks recently introduced its Air Connect solution, which provides wireless connectivity to businesses throughout South Africa. This Wireless to the Business (WTTB) solution offers dependable, high-speed connectivity and ensures business continuity, even in some of the most demanding…
- Safaricom’s M-PESA has forged an International Money Transfer Agreement with Onafriq, Africa’s leading digital payments network across 40 countries. This partnership aims to enhance the efficiency of remittance flows to Ethiopia. M-PESA provides accessible financial solutions through mobile phones…
- Check Point Software Technologies Ltd, a leading provider of AI-powered cybersecurity platforms delivered through the cloud, has recently announced a strategic collaboration with NVIDIA. This partnership aims to enhance the security of AI cloud infrastructure. By integrating with NVIDIA DPUs, the…
- The exhibition is expected to facilitate more than 600 meetings between startups, investors, and companies. Rabat – Minister Ghita Mezzour, Delegate to the Head of Government in Charge of Digital Transition and Administrative Reform, has revealed an ambitious vision for the upcoming second edition…
- Patrice Motsepe, a South African billionaire, is reportedly in discussions with Vivendi SE’s Canal+, a French media company, to potentially collaborate on a bid for MultiChoice, South Africa’s leading PayTV provider. As the April 8 deadline for Canal+’s formal buy offer approaches, there is a need…
- Mike Silber, former Group Chief Regulatory Officer at Liquid Telecom for five years, has been appointed as Group Executive Regulatory at MTN Group. He has been instrumental in the expansion of Africa’s cross-border fiber network and its largest networked data center operation. His unwavering…
- UXLINK, a rapidly growing Web3 social platform and infrastructure, has recently concluded a new funding round, securing over $9 million in total investments. Notable investors in this round include OKX Ventures, Web3Port Foundation, Manifold, UOB Venture, Comma3 Ventures, Cypher Capital, Kucoin…
- Verto Pay is transforming international payments for small and medium-sized enterprises by integrating a multi-currency wallet with options for USD, GBP, EUR, and NGN. This allows business owners to easily navigate the global market, eliminating the complexities of wire transfers and delays. With…
- Startups offering financing support to Nigerians looking to purchase a vehicle are revising their strategies to maintain stable demand amidst the persistent rise in inflation, which is driving up vehicle prices. Auto finance companies provide consumers with the flexibility to purchase vehicles from…
- Businesses can now streamline the creation of impactful Google Search campaigns with the help of AI-generated suggestions and guidance, making the process faster and more efficient. Businesses in Africa and around the world can now leverage Google’s Gemini AI-powered chat-like tool for Search Ads…
- Watu Credit, a local financial provider, has pledged to fund the purchase of over 500,000 electric motorbikes by 2030. Watu Credit’s recent announcement aligns with the release of the Electric Mobility Draft Policy by the Kenyan government. The policy aims to promote the use of electric vehicles…
- Simera Sense, a global leader in delivering comprehensive optical solutions for the small satellite Earth observation industry, has successfully secured €13.5 million in its inaugural round of growth investment. Since its establishment in 2018, the company has experienced rapid growth, offering a…
- Africa-focused Janngo Capital Startup Fund (JCSF) has secured a €4 million ($4.3 million) equity investment from Tunisia’s fund of funds, “ANAVA.” The funding will be used to support francophone African startups and businesses founded by women. As ANAVA’s inaugural investment in Pan-African funds,…
- African payments company, Cellulant, has recently made the strategic decision to exit the Nigerian mobile money sector. This move comes after the revocation of its mobile money license by the Central Bank of Nigeria. The company will now shift its focus to delivering payment services to businesses…
- Climate tech VC Satgana has successfully closed its inaugural fund, with the goal of supporting up to 30 early-stage startups across Africa and Europe. The venture capital firm successfully concluded its fundraising efforts, securing a total of €8 million ($8.6 million) in commitments from family…
- P1 Ventures, a pan-African Seed Venture Capital (VC) fund, has successfully completed the second round of funding for its USD 35 million fund. This will enable the company to expand its team and operations to Dakar, Senegal, and Nairobi, Kenya. In September 2023, the investment firm closed its…
- Sprints, an innovative AI-powered edtech company aiming to revolutionize the future of education, has recently revealed a successful USD 3 million bridge fundraising round. Key investors in this round include EdVentures and CFYE, among others. Established in 2020 by Ayman Bazaraa and Bassam…
- Venture Capital (VC) firm HAVAÍC has spearheaded an R12 million (USD 634 K) follow-on investment round in RNR (Right Now Response). The Cape Town-based VC firm has contributed R10 million, following an initial investment of R9.2 million made as the company’s first institutional investor in February…
- The Commercial Bank of Ethiopia (CBE) reportedly recouped approximately $10 million from customers who withdrew excess funds from their bank accounts following a “systems glitch” on March 16, 2024. Initially, reports suggested that the bank had incurred losses of up to $40 million. However, Abe…
- MTN has announced a collaboration with regulators in multiple markets, such as Nigeria, to seek approval for tariff increases on voice and data services. This move aims to bolster profitability and enhance the company’s financial standing. Following the telco’s report of a decrease in full-year…
- The rise of digital wallets is transforming the financial transaction landscape, offering numerous advantages as a payment solution. With their emphasis on convenience, security, and accessibility, these platforms enable quick and efficient transfers. According to the World Bank, such advancements…
- The collaboration will empower qualified customers to access a loan during emergencies, with the funds being swiftly deposited into their Airtel mobile money account. Airtel money Zambia and PremierCredit have collaborated to introduce a new mobile loan service called “Na Sova KaFast Loan,” with…
- Telecom Egypt and Tejas Networks, an Indian company specializing in optical, broadband, and data networking products, have entered into a memorandum of understanding aimed at enhancing telecom R&D, establishing manufacturing facilities, and fostering skill development in Egypt. With its proven…
- In Kenya, where a staggering 20% to 40% of total food production is lost, Farm to Feed, an innovative agtech startup, is emerging as a game-changer in the battle against food insecurity. The company is bridging the market gap for small-scale farmers, who contribute a whopping 75% of the country’s…
- Meta Platforms, the tech giant behind social media platforms like Facebook and Instagram, is set to introduce new features that will allow content creators in Nigeria to monetize their content through advertisements and other avenues. This move aims to retain the country’s top content creators on…
- Tappi, the innovative digital commerce SaaS solution tailored for Africa’s micro, small, and medium-sized enterprises (MSMEs), has announced its expansion into Côte d’Ivoire. Building upon its rapidly growing operations in Kenya and Nigeria, tappi’s latest country launch features an extension of…
