- In a significant turn of events, YUP Cameroon, a mobile money subsidiary of French banking giant Société Générale, has been declared officially in liquidation. This decision came to light during an extraordinary general meeting on December 29, 2023, marking a conclusion to the company’s financial…
- Pan-African online used car platform AUTO24.africa has acquired Tanzania’s leading digital classifieds property, Kupatana.com. The purchase from parent company Euroafrica Digital Ventures represents a milestone for AUTO24.africa as it solidifies dominance of Sub-Saharan Africa’s thriving pre-owned…
- Oracle has revealed plans to launch a new public cloud region located in Nairobi, Kenya, marking the technology firm’s second major investment in cloud infrastructure across Africa. The announcement comes on the heels of rival Google Cloud unveiling its first facilities on the continent in…
- Technology heavyweight Google has unveiled its first ever cloud region in Africa, launching new data centers and cloud infrastructure in Johannesburg, South Africa. Serving as a hub for Google Cloud products and services across the continent, the Johannesburg cloud region provides businesses and…
- Mirova, a leader in sustainable investment, recently celebrated a major achievement in its drive to accelerate the transition to clean energy across developing nations. A year after its launch, the Mirova Gigaton Fund, which aimed to gather $500 million, has successfully amassed $282 million in…
- In 2021, while working as a marketing consultant for Japanese startups in Kenya, Aoi Narita discovered the song “Love Nwantiti” by Nigerian Afrobeats artist CKay and was instantly captivated by the genre. “The lyrics were beyond my comprehension, but the tune lingered in my mind,” she communicated…
- Renda Africa, a premier provider of third-party fulfillment solutions in Nigeria, has unveiled an innovative technology platform called Renda360. This platform stands out as the first to consolidate and offer straightforward access to comprehensive fulfillment infrastructure necessary for…
- Widespread protests erupted across Senegal after President Macky Sall announced on Saturday that he was postponing the presidential election originally scheduled for February 25th. In an attempt to curb the unrest, authorities imposed an internet blackout starting Sunday night. This marks the…
- The health technology startup from Nigeria, Helpmum, has received a grant of $225,000 from the Africa Visionary Fund, according to a statement issued to Technext by the company’s Founder and CEO, Dr. Abiodun Adereni. Furthermore, the company disclosed its selection as one of the 12 visionary…
- After a hiatus of three years from the Kenyan market, SafeBoda is making a comeback, potentially proving that a second attempt might just be the winning charm. The startup, initially recognized for its motorcycle ride-hailing services, is now expanding its offerings to include car-hailing services…
- Today, on January 30, 2024, a distinguished group of biodiversity experts representing over 20 African countries will gather in Harare to discuss the current state of biodiversity for food and agriculture in the region.Their objective is to devise strategies to fortify the conservation and…
- MTN Group has pledged to invest a substantial $215 million in infrastructure in the Republic of Benin over the next three years. The investment will primarily focus on the construction of MTN Benin, the telco’s subsidiary office. This commitment was announced during a visit to Cotonou by a…
- InspiraFarms Cooling,a leading provider of cooling solutions based in Kenya, has recently secured a substantial $1.09 million (€1 million) investment. This funding will be instrumental in supporting the company’s off-grid energy cold storage projects across Africa. Notable investors in this round…
- Centenary Bank, a leading commercial bank in Uganda, has recently launched CenteWhatsApp banking, a convenient platform that provides customers with instant and secure access to a wide range of banking services through WhatsApp. With CenteWhatsApp banking, customers have the convenience of…
- Nigerian traditional banks are venturing into the digital lending market, setting the stage for a showdown with their digital counterparts. By creating standalone digital lending apps, these banks aim to attract customers from smaller banks with high interest rates and potentially lure customers…
- WhatsApp, the popular messaging app owned by Meta, is gearing up to celebrate its 20th anniversary later this year, following its acquisition by Facebook in early 2014. With an impressive user base of over 3 billion daily active users, particularly in the global south and Europe, WhatsApp has…
- Alepo is excited to introduce Lümbot, an advanced AI-powered virtual agent designed for SaskTel’s innovative all-digital mobile brand. Lümbot offers a cutting-edge, all-digital customer support experience and resides on Lüm Mobile’s website. Unlike traditional chatbots with predetermined rules,…
- Build Your Dream(BYD) , a leading Chinese electric vehicle manufacturer, has recently announced its expansion into Rwanda, marking its entry into another East African nation following its success in Kenya. The company’s strategic move into Rwanda is in line with the country’s commitment to…
- Miden, a startup from Nigeria, has been selected to take part in Y Combinator’s winter 2024 group. This decision makes Miden the newest Nigerian startup to join this year’s winter group, following in the footsteps of Cleva, a service for cross-border payments. Miden, which provides virtual cards in…
- Entering a new year is like stepping into a world of endless possibilities, and for tech enthusiasts, TECNO and itel are poised to make 2024 an exhilarating journey. After a successful 2023 in South Africa, which saw the launch of the SPARK 10 Series, both brands are gearing up for another…
- Standard Chartered Bank and Village Capital have recently joined forces to invest in impact-driven, women-led startups. This partnership aims to address the gender financing gap in the entrepreneurial ecosystem by launching a financing facility to support Standard Chartered’s Women in Tech program…
- DXwand, a leading artificial intelligence (AI) startup based in the Middle East, has recently completed a successful Series A funding round, raising a total of $4 million. The investment round was spearheaded by notable investors such as Shorooq Partners and Algebra Ventures, with the Dubai Future…
- Paymob, a prominent financial services provider in the Middle East, North Africa, and Pakistan (MENA-P), has recently joined forces with Mastercard. This collaboration aims to boost digital payment adoption throughout the MENA region. This comprehensive, omnichannel partnership will utilize the…
- Amazon Prime Video is reportedly reducing its operations in Africa and the Middle East, as detailed in a Deadline report. This strategic shift will lead to a decreased focus on these regions, impacting local teams. As part of this realignment, Prime Video will discontinue commissioning original…
- Google has recently unveiled new AI-driven enhancements to its search engine, as announced by Elizabeth Reid, the Vice President of Search at Google. The company is introducing two significant updates, designed to simplify the process of finding answers on Google Search: the “Circle to Search”…
- Motorcycle taxis, a prominent mode of transportation in Africa, hold significant promise for electrification as electric two- and three-wheelers gain popularity across the continent. These insights are drawn from a recently published report by the United Nations Environment Programme (UNEP), which…
- Egyptian educational technology startup, Edura, has successfully completed an undisclosed pre-seed funding round led by Smart Zone Startups Studio and backed by angel investors. The funding will play a pivotal role in Edura’s mission to transform education by fostering connections between teachers…
- AltSchool Africa, a Nigerian edtech startup, has expanded its presence to Kenya, marking its second venture into the East African market. This startup, which boasts a network of 60,000 learners across over 100 countries, offers specialized courses designed to expedite the transition into global…
- The Democratic Republic of Congo (DRC), renowned for its abundance of natural resources, is making significant strides in the global tech landscape. This country, rich in ‘green metals’ like cobalt and copper and home to the world’s second-largest tropical rainforest, has recently joined the East…
- With a USD 1.60 trillion market cap, the imminent intensification of Amazon’s operations in South Africa will come to shape the practices and standards that characterise and grow the domestic e-commerce landscape. For consumers and smaller sellers alike, Bezos’ venture into South Africa’s online…
- On Tuesday, a significant announcement was made by the United Nations Development Programme (UNDP), Rwanda, and seven other African nations regarding the initiation of Timbuktoo, a new project designed to inject $1 billion into 1000 African tech startups over the next decade. Known as the largest…
- Shamba Pride, an agtech firm founded in 2016, recently secured a $3.7 million pre-series A funding in a debt-equity mix to enhance its last-mile distribution network for farm inputs in Kenya. This investment round was led by the EDFI AgriFI, an EU agriculture financing initiative, and Seedstars…
- Switch on the TV, and you’ll be hard-pressed to find a sports team not endorsed by an online betting company. The online gambling market in South Africa is set to hit a revenue of USD 828.50m this year, with an estimated 3.6 million users by 2028. As the wave of online gambling sweeps across South…
- The Cairo-based D2C beauty and wellness startup, Mira Cosmetics, is poised to create a significant impact in the market with a recent $200,000 investment from Wingoo Investment and Technology. This financial boost follows the successful production of Mira’s first local beauty product, which is…
- Imaginario AI, a startup based in Tunisia specializing in the AI-assisted processing of video and audio content, has successfully secured $1 million in a pre-seed funding round. This significant financial boost supports the company’s ambitions to expand internationally. The investment round was…
- Ampersand, a pioneering electric transport energy company based in Kigali, recently secured a significant investment of $19.5 million through debt and equity funding. This funding round was spearheaded by the Ecosystem Integrity Fund (EIF) and saw participation from notable investors such as Acumen…
- iSchool, an educational technology startup based in Egypt, recently secured funding of US$4.5 million. This significant investment supports the company’s ambitious plan to broaden its reach across six additional countries within the Middle East and North Africa (MENA) region. VentureWave Capital,…
- General Atlantic, a growth equity firm based in New York with assets under management (AUM) totaling $83 billion, has agreed to acquire Actis, a London-based investor specializing in energy infrastructure focusing on African investments. This acquisition is aimed at enhancing General Atlantic’s…
- Seedstars Africa Ventures has achieved a significant milestone by securing a $30 million capital injection from EIB Global, an entity connected to the European Investment Bank. This marks a pivotal moment as it represents the first substantial institutional investment for the venture firm’s…
- E3 Capital’s Low Carbon Economy Fund has taken a prominent role in the initial funding round for Badili Africa, a re-commerce startup specializing in the refurbishment of digital devices. The investment’s primary goal is to bolster Badili’s mission of addressing Africa’s digital divide sustainably…
- Axian Group, a prominent investment firm, has recently disclosed its strategic investment in Bosta, an innovative Egyptian startup reshaping the delivery processing and logistics landscape in Egypt and Saudi Arabia. Utilizing advanced technology, Bosta’s platform optimizes first, middle, and last-…
- In the ever-evolving landscape of Africa’s business realm, one discovers the essence of innovation, resilience, and an unwavering determination to make a meaningful impact. At the threshold of a new era for African entrepreneurship, we not only applaud the dreams that have taken flight but also…
- Despite the surrounding excitement, blockchain technology holds a myriad of potential benefits for different industries across Africa. While some skeptics may downplay the significance of blockchain or limit its utility to cryptocurrencies alone, the reality is that the technology’s applications…
- Nigeria’s five largest banks, namely First Bank, Access Bank, UBA, Guaranty Trust Bank, and Zenith Bank have each achieved a market capitalization of at least N1 Trillion on the NGX, Nigeria’s stock exchange. These banks are currently benefiting from a strong market performance that resulted in a…
- Ride-hailing drivers in Nigeria are set to demand health insurance packages from e-hailing companies operating in the country following the recent passing of Adebayo Padmore, a driver for LagRide. Among the major ride-hailing companies in Nigeria, only Bolt currently offers health insurance to…
- Capital Film Productions, established by Adim Isiakpona, an ex-Google employee, and Hamza Kassim, who works as a business opportunity manager at Shell, has recently introduced Act 3, a new fund of ₦500 million. This fund is dedicated to investing in a variety of Nollywood films. Both founders have…
- As we enter 2024, Africa’s dynamic tech landscape is poised for rapid evolution across various sectors. From crypto to AI to shifting investment patterns, several key trends emerged in 2023 that will likely accelerate in the new year. After a period of overheated growth and steep market correction…
- Video streaming service Showmax has announced the launch of its majorly revamped platform, Showmax 2.0, coming in February 2024. The updated service promises a wealth of fresh local and international shows for African audiences. This follows MultiChoice Group’s partnership formed last year with…
- Ridesharing platform Bolt has rolled out a new safety feature in Kenya aimed at reducing risky offline trips. The “Driver Asked to Pay Off-the-App” tool lets riders immediately flag situations where drivers request payment outside the official Bolt app. Through the feature, passengers can report…
- In an effort to empower women and protect the planet, IT services provider SmartCIC has launched an impactful e-waste repurposing initiative. The company has partnered with non-profit Maxim Nyansa Foundation to provide underprivileged young women across Africa with hands-on tech education and…
