- The surge in e-commerce across African markets is a notable trend fueled by the upsurge in internet accessibility, the expanding use of smartphones, and the burgeoning middle-class demographic. Drivers of E-commerce Expansion in African Markets Internet and Smartphone Accessibility: The widespread…
- OfferZen, a leading South African platform connecting developers with top opportunities, recently closed an impressive US$4.3 million funding round from prestigious investors. The company has also revealed strategic workforce adjustments and enhancements to its business model. Invenfin and AI…
- In the world of technology, being present at tech events has emerged as a crucial approach for both professionals and companies. These events act as rich environments for nurturing personal and professional development. By attending these gatherings, individuals have the opportunity to broaden…
- In October 2023, just two months into his term, Bosun Tijani, Nigeria’s minister of communications, innovation, and digital economy, outlined his strategic vision during an interview. A standout point from the eight-minute discussion was Nigeria’s ambitious goal for artificial intelligence (AI): “…
- According to a new report by Omdia Research, Showmax has become Africa’s largest streaming platform, surpassing Netflix in market share. As of November 2022, Showmax claimed 39% of the African market compared to Netflix’s 33.5%. This aligns with MultiChoice’s November announcement of Showmax 2.0,…
- Global household products provider d.light has announced a $7.4 million (N10 billion) securitized financing facility, in collaboration with Chapel Hill Denham. The new funding from Denham’s Nigeria Infrastructure Debt Fund will scale up d.light’s Pay-Go solar offerings for low-income Nigerian…
- Awash Bank has partnered with Mastercard to introduce Awash prepaid cards in Ethiopia, enabling customers and merchants to make and receive payments online anywhere worldwide. The Mastercard-branded plastic cards were launched at a press conference in Awash Bank’s headquarters, marking the…
- SHELT Global Limited recently hsted a cocktail party at its new headquarters in Nigeria to reveal the upgraded Security Operations Center and the SHELT Training Academy. Having operated in Nigeria for six years, spanning Lagos and Abuja, SHELT has diligently served the nation’s foremost financial,…
- Teraco, a leading African colocation provider, has announced plans to build a 120-megawatt (MW) utility-scale solar photovoltaic (PV) energy facility in South Africa’s Free State province to address ongoing power challenges. Jan Hnizdo, Teraco’s CEO, revealed that the company had secured its…
- In a historic move towards sustainable transportation, Kofa and Autopax have forged a pioneering agreement to commence the assembly and distribution of an innovative electric motorcycle model. This model has been meticulously designed and rigorously tested in Kenya and Ghana, specifically for the…
- South Africa has released draft regulations for digital nomad visas, encouraging public input to influence the visa’s final form. Should these regulations be approved, South Africa will join four other African nations in offering digital nomad visas, aiming to establish itself as a leading…
- Opera, in partnership with Celo and Mento Labs, is thrilled to announce a significant milestone: surpassing 1 million users of the MiniPay wallet in Nigeria, Kenya, and Ghana. This achievement will be celebrated at the Africa Money and DeFi Summit, scheduled for February 14-15 in Nairobi, Kenya.…
- ProXalys, a Senegalese startup focusing on digital transformation for business-to-business trade, has secured a $500,000 investment to bolster its expansion. The investment round was spearheaded by Tunisia-based seed fund 216 Capital, with participation from Haskè Ventures and Digital Africa as…
- Africa’s technology and software development industry has witnessed immense growth over the past decade. With a talent pool of over 700,000 skilled software developers spread across the continent, Africa possesses a vast reserve of tech talent waiting to make its mark on the global stage. However,…
- Arnergy, a Nigerian startup specializing in distributed renewable energy products and solutions, has secured $3 million in additional funding. The bridge financing was provided by All On, an off-grid energy impact investment firm backed by Shell. This new investment arrives five years after…
- The online education platform Klas recently raised $1 million in a pre-seed investment round. The round was led by Ingressive Capital and saw participation from Techstars, HoaQ, as well as various angel investors. Nathan Nwachuku and Lekan Adejumo, who founded Klas in 2022, have developed it into a…
- Digital Africa, an eminent investment consortium, is excited to declare that Kwely Inc., a pioneering startup from Senegal, has successfully received investment from Fuzé. This development represents a crucial step forward in promoting Made-in-Africa products on a worldwide scale. Established in…
- Several months after the Central Bank of Nigeria (CBN) issued regulations to oversee the operations of digital asset providers, the country has directed its telecom companies to block access to cryptocurrency-related websites, including prominent platforms like Binance, OctaFX, and Coinbase. This…
- by Mark Allewell, CEO at Sensor Networks While no one expected the South African State of the Nation Address (SONA) to shoot any lights out, we did expect some electrifying election season promises by President Ramaphosa in his annual address. And we got a big one, as the President proclaimed that…
- OX Delivers, a UK-based e mobility startup, has been awarded a funding grant of £1.2 million by Energy Catalyst to support the company as it prepares to launch its innovative, cost-effective all-electric OX4 truck. This financial boost from the Energy Catalyst grant is designated for the creation…
- FairMoney, a digital bank with its base in Lagos and headquarters in Paris, is currently in talks to purchase Umba, a digital bank with a focus on credit, offering payroll and financial services in Nigeria and Kenya, for a $20 million all-stock transaction, according to insiders speaking to…
- Global investment firm Partech made waves by securing $300 million for its second Africa-focused fund, Partech Africa II. This impressive hard cap highlights rising investor appetite for the continent’s burgeoning tech landscape. In conjunction with the fund announcement, Partech opened a new…
- Nigerian digital lender Carbon has acquired local fintech startup Vella Finance in a strategic move to expand its financial services targeting small and medium enterprises (SMEs). The deal value was undisclosed. While Carbon pioneered consumer lending in Nigeria, it is now pivoting focus to equip…
- Global web innovator Opera recently announced their payments platform, Opera MiniPay, has amassed over 1 million users across Nigeria, Kenya, and Ghana. This milestone, achieved with partners Celo Foundation and Mento Labs, comes as Opera continues its push to expand access to digital assets in…
- To reduce reliance on South Africa’s strained power grid, MTN has undertaken a major solar energy project at its Johannesburg headquarters. With over 5,400 solar panels now active, MTN is on track to make its head office 40% less dependent on the municipal grid by end of February. The telecom…
- Early-stage music streaming platform Astrotwig has fallen victim to an apparent investment scam, costing founders and lenders over $20,000. CEO Samuel Adeleke has since resigned over the debacle. Founded in 2023 by Adeleke alongside Ajibola Disu and Oluwaseun John, Astrotwig blends social features…
- The 2023 Robotics and AI Society Bill, aimed at governing the burgeoning sectors of artificial intelligence (AI) and robotics in Kenya, has met with strong opposition from industry insiders. Professionals in Information Technology (IT) and experts from the American Chamber of Commerce (AMCHAM) have…
- A recent report from Salient Advisory, a healthcare consulting firm focused on enabling effective strategies within the African health sector, has unveiled a dramatic increase in funding for women-led health-tech ventures across Africa. The surge saw a monumental growth of over 2,000%, with women-…
- In Botswana, the Botswana Communications Regulatory Authority (BOCRA) has declared the importation, use, and resale of Starlink devices as punishable offenses. Starlink is currently unlicensed in the country, and BOCRA is reviewing its application for approval. BOCRA emphasized that Starlink has…
- The Kenyan high court has recently released $3 million that belonged to fintech leader Flutterwave and two of its partners, thereby concluding a legal dispute that was initiated in 2022. TechCabal has verified this development. Despite a court directive issued in November 2023 to release the funds…
- Network International, a global payments-as-a-service specialist, advocates for a collaborative approach to unlock the untapped opportunities of open banking in South Africa. While the benefits of open banking are acknowledged worldwide, the strategies for its adoption vary, with some regions…
- In response to the pressing need for affordable housing across Africa, Bosso Africa, a Zambian-based company, is spearheading a groundbreaking initiative to optimize the construction supply chain. Through their comprehensive online marketplace, the company aims to revolutionize the accessibility of…
- Catalyst Fund, a pre-seed VC and accelerator, backs nine African early-stage climate tech startups with a $1.8 million investment to bolster their impact and growth trajectory. The nine startups benefiting from the investment include Mazao Hub and Medikea from Tanzania, Earthbond, Zebra Cropbank,…
- Mastercard and Glovo, a versatile multi-category app connecting consumers with diverse services, have partnered to address hunger and enhance education in underserved communities. Their collaboration aims to provide over 300,000 meals to school children in Kenya and Nigeria for an entire academic…
- In a strategic move aimed at promoting financial inclusion in Africa, Mastercard has reaffirmed its commitment to the growth and advancement of MTN Group Fintech the fintech division of telecommunications powerhouse MTN Group. This groundbreaking agreement sees Mastercard acquiring a minority stake…
- Roam, a Kenyan electric mobility startup, has recently secured $24 million in a combination of debt and equity funding. This significant financial boost will play a crucial role in supporting Roam’s ambitious plans to expand its operations across the African continent. Equator Africa, a venture…
- Matt Boyd, Founder, JDM IKIGAI If you had approached me a decade ago and told me that, in the future, electric cars would make life so easy and convenient that you could eat a bowl of cereal or do a full face of makeup while on the way to your destination, I would have had […] More
The post The…
- Moove, a pioneering vehicle financing startup based in Africa, has recently secured a significant debt funding of $10 million from Stride Ventures, a highly regarded sector-agnostic venture debt fund. The mobility company, which made its entry into the Indian market in 2023, has announced that the…
- Airtel Africa is expanding its operations by constructing a new data center in Nairobi, Kenya. This move is part of the company’s strategy to diversify its revenue streams and marks its second data center on the African continent, following the one in Nigeria. The telecommunications company has…
- In today’s fast-paced digital world, fraud and financial crime have become major concerns. Recent global research reveals a staggering 72% increase in fraudulent activity in 2022, with almost a quarter of survey respondents anticipating a significant budget boost for anti-fraud technology by 2025.…
- Visa has collaborated with the Egyptian Banks Company (EBC) to simplify and enhance the international remittance process for Egyptians residing overseas. This partnership aims to provide a seamless and efficient experience for individuals sending money across borders. This news comes as a…
- Starlink, the satellite Internet service provided by SpaceX, recently terminated the accounts of numerous South African users due to suspected trademark and copyright infringements. According to a report from MyBroadband, a number of Starlink users who rely on StarSat Africa to manage their…
- The telecommunications industry is expressing their concern over the apparent disregard for their request to receive diesel rebates. This issue arose after President Cyril Ramaphosa failed to address the topic during his state of the nation address last week. The industry is worried about the…
- Nairobi-based health tech company Ilara Health has secured $4.2 million in a pre-Series A funding round. This infusion of equity and debt financing will support the startup’s mission to deliver affordable, quality healthcare across Kenya before expanding regionally. The latest capital injection,…
- Microsoft has revealed plans to construct an expansive data centre campus in Kosmosdal, Centurion, South Africa. This facility will expand Microsoft’s cloud infrastructure footprint in the country amid surging demand for services like Azure and Dynamics 365. While still in early development phases…
- Africa’s leading pay TV provider MultiChoice has agreed to pay $37.3 million to Nigerian tax officials, concluding a lengthy dispute over unremitted taxes. The settlement stems from allegations of significant past nonpayment by MultiChoice Nigeria and its parent company MultiChoice Africa. In 2022…
- Google has announced a rebranding of its conversational AI chatbot, previously known as Bard, to Gemini. The new name reflects the advanced large language model technology powering the AI assistant. With this rebrand, Google is launching upgraded Gemini apps for iOS and Android, allowing hands-free…
- In 2014, Sanusi Ismaila relocated from Lagos to Kaduna with the vision of founding a technology hub to empower individuals to address real-world challenges. He was driven by the conviction that nurturing tech ecosystems in areas outside of Lagos was crucial, as local challenges are best tackled by…
- The International Finance Corporation (IFC) has invested $20 million in equity to the Africa50 Infrastructure Acceleration Fund (IAF Fund). This fund is set to channel investments into several critical sectors, including digital infrastructure, renewable energy, transportation, logistics, and water…
- Sawa Energy is revolutionizing how small and medium-sized enterprises (SMEs) in East Africa access energy. Operating in Rwanda and Uganda, the company is breaking down barriers by removing initial costs, thereby making solar power and energy-efficient solutions accessible and affordable. Launched…
