- A recent standoff between two major players in Nigeria’s telecommunications industry has sparked questions around the sector’s financial agreements and stability. Globacom, the country’s second largest mobile network, faces partial disconnection from certain services of rival operator MTN Nigeria…
- Twitter has long been the hub for trending conversations in Nigeria, from serious social issues to mundane marital roles. But it’s rare for the latter to spawn a massive brand marketing outlet. Yet that’s exactly what happened in the past week with Deborah Olaki, known as Mumzee. On January 4,…
- In a landmark 100% acquisition, the Kuwaiti education technology firm Baims, founded by Bader Al-Rasheed and Yousef Alhusaini in 2017, has successfully acquired the Egyptian EdTech company Orcas. Baims, renowned for its online pre-recorded courses for university and high school students in…
- weVenture, an Ethiopian venture capital-backed incubator, has recently commenced its operations. Established through a collaborative effort of local industry experts, investors, and seasoned professionals, this hub focuses on discovering, cultivating, and expanding early-stage startups in Ethiopia…
- Mastercard has teamed up with Illicocash, a fintech division of Rawbank, to initiate a virtual card program in the Democratic Republic of the Congo (DRC). This collaboration aims to provide an innovative and easy way for consumers and businesses to conduct eCommerce transactions. This development…
- Cleva, a Nigerian fintech startup, recently secured $1.5 million in a pre-seed investment round to enhance international payment solutions throughout Africa. The funding round was spearheaded by 1984 Venture, a venture capital firm based in San Francisco that specializes in supporting early-stage…
- Oludayo Ojerinde, a specialist in artificial intelligence from Nigeria, recently launched a new health-focused chatbot in Lagos. This innovative chatbot is set to transform how healthcare is accessed and cater to the healthcare needs in Nigeria. This recent unveiling aims to address significant…
- In 2023, Africa faced a significant financial challenge, with three currencies ranking among the five poorest performers globally. The continent’s weakest currencies were the Nigerian naira, Angola’s kwanza, and Malawi’s kwacha. Notably, the Nigerian naira experienced a steep decline, only…
- Octavia Carbon has recently obtained funding to enhance its Direct Air Capture (DAC) technology. This technology primarily focuses on removing carbon dioxide (CO2) from the air. The firm is dedicated to fighting climate change by developing, constructing, and implementing machines specifically…
- The United Nations has issued a grave forecast, indicating that the hunger crisis in Africa is set to intensify dramatically next year, with an estimated 50 million Africans likely to face hunger. This alarming situation will bring the total number of hungry individuals on the continent to over 300…
- Former CNN correspondent Zain Verjee and Grammy award-winning director Matthew Miguel Cullen have teamed up to transform the narrative on climate change’s impact in Africa with their pioneering artificial intelligence (AI) film, Ndoto. This film aims to showcase the stark realities of climate…
- Starlink, a subsidiary of SpaceX, has recently inaugurated its first service in Africa in Nigeria and is now setting up its inaugural physical office in Kenya. The company specializes in satellite internet and has announced a job opening for a Global Licensing Activation Manager in Sub-Saharan…
- Koree, a fintech company from Cameroon, recently secured a pre-seed investment of $200,000. This funding will be allocated to expanding its merchant network, increasing its customer base, and striving for product-market fit, as stated by Magalie Gauze-Sanga, the founder of Koree. The investment was…
- In the past year, African tech startups faced considerable challenges. Securing venture capital proved to be a daunting task, aligning with earlier predictions. Bridge and down rounds became increasingly common, while reports of fire sales, staff layoffs, and startup closures spread throughout the…
- The Emerging Africa Infrastructure Fund (EAIF), a subsidiary of the Private Infrastructure Development Group (PIDG), has pledged a senior secured loan facility worth $30 million to AXIAN Energy. This financial commitment is integral to AXIAN Energy’s growth strategy, which aims to establish more…
- The global re-commerce sector is on the brink of expansion, with more consumers opting for secondhand products to save money and support sustainable consumption. As the worldwide re-commerce market continues to grow, platforms like Soum from Saudi Arabia aim to attract users across the Middle East…
- Zerodip ng introduces a revolutionary approach to helping Nigerians discover their ideal property, whether it’s for purchase, rental, short-term leasing, or joint ventures. This innovative platform is ushering in a new era for the real estate sector in Nigeria, bringing fresh air to the industry.…
- As Europe faces challenges in supply and seeks to diversify its imports, Africa is increasingly recognized as a key investment destination. The continent’s rich resources and untapped potential are drawing attention from various European businesses and countries. This shift is creating new market…
- A leading South African international banking and wealth management group has partnered with Synthesis to create its upcoming PayShap payments platform. Their strategic objective is to update current banking systems and introduce a new, cloud-based payment platform. This new platform aims to unify…
- MINDEX, a prominent fintech company, recently celebrated the launch of the first-ever virtual assets marketplace in Mauritius, a landmark event for the region’s financial sector. The Virtual Assets Marketplace license was awarded to MINDEX by the Financial Services Commission (FSC), enhancing its…
- All On, a leading impact investment firm in Nigeria, recently signed a significant investment agreement with Baobab Plus Nigeria, committing $2.25 million to a credit facility. This investment is pivotal for rolling out 1,536 solar energy systems throughout Nigeria, with capacities ranging between…
- Samson Olatunde, the founder of Knowledge Digest Africa (KDA), has emphasized the importance of African business owners embracing technology to enhance their enterprises. Olatunde’s company, known as a comprehensive digital knowledge repository, was recently honored with an award recognizing it as…
- Fawry, a prominent Egyptian company in digital banking and payments technology, has recently entered into a strategic partnership with Simple Touch, a renowned provider of advanced business management software and ERP solutions for the food and beverage industry in the Middle East and North Africa…
- The Zambian government recently unveiled an ambitious plan to establish Community Digital Transformation Centers (CDTCs) across the country. These hubs aim to enhance Zambia’s digital ecosystem while empowering citizens through free internet access, digital skills training, and online service…
- After announcing plans to establish its regional headquarters in Kenya, TikTok is doubling down with a $1.49 million fund to empower local small and medium enterprises (SMEs). This investment aims to provide loans, grants, training and mentorship to Kenyan entrepreneurs using TikTok to showcase…
- Microsoft and Gebeya have partnered to launch Microsoft.Gebeya.com, a platform aimed at developing in-demand digital skills amongst African youth and empowering them for cloud computing careers. Through this collaboration, the companies seek to upskill 300,000 developers across 8 African countries…
- TikTok’s recent enforcement report revealed over a million video removals in Nigeria last quarter for policy violations like nudity and hateful content. This highlights the platform’s exponential growth in Africa, especially Nigeria. While Kenyans mostly use TikTok for news, Nigerians favour…
- Starting January 1, 2024, ride-hailing drivers in Ghana will be required to pay a new Value Income Tax (VIT) every quarter, as announced by the Ghana Revenue Authority (GRA). This tax applies to commercial vehicle owners earning income from ride-hailing services like Uber, Bolt, and Yango. To…
- MAKA, a Nigerian social commerce startup, has secured $2.65 million in pre-seed funding to support its expansion efforts. The funding round was co-led by 4DX Ventures and Janngo, with additional support from Palm Drive Capital. Notable participants in this round included executives from the…
- Amini.ai, a climate-tech startup headquartered in Nairobi, is dedicated to using artificial intelligence and satellite technology to address Africa’s environmental data gap. The company has secured $4 million in seed funding to expand into new markets. The funding round was spearheaded by…
- Bujeti, a Nigerian startup specializing in expense management and budget creation, has successfully secured $2 million in seed funding for its financial platform. The leading force behind this fundraising round was Y Combinator (YC), accompanied by a group of notable supporters, including Alan…
- FBS, a global broker, and Education Africa, a non-profit organization dedicated to poverty alleviation through education, have again joined forces to spread holiday cheer. This collaborative effort aims to distribute Christmas gifts and extend warm wishes to families in need from Etwatwa, Daveyton…
- ITC is actively supporting the growth of small cashew processors and brands in Senegal, facilitating their entry into new markets. Recently, they conducted a comprehensive training session on packaging, benefiting 30 cashew processing businesses in the country. Among other West African nations like…
- Tappi, a Kenyan startup specializing in a chat tool that automatically generates webpages, has successfully secured US$1.5 million in an oversubscribed pre-seed funding round. The two-year-old e-commerce platform attracted support from notable investors, including Digital Currency Group, SOSV,…
- TUNL, a South African parcel shipping platform, secured $1 million in pre-seed funding from investors such as Founders Factory Africa, Digital Africa Ventures, E4E Africa, and Jozi Angels. Established in 2022 by CEO Matthew Davey and COO Craig Lowman, the company was born out of Davey’s experience…
- MaxAB and Wasoko, the Tiger Global-backed Kenyan e-commerce startup, are in the early stages of a planned merger, aiming to solidify their position as Africa’s premier leader, according to statements from Daniel Yu, CEO of Wasoko, and Belal El-Megharbel, CEO of MaxAB, shared with TechCabal. The…
- In a significant development for the Nigerian crypto industry in 2023, the Financial Policy & Regulation Department of the Central Bank of Nigeria (CBN) has announced removing the ban on crypto transactions within the country’s financial system. This decision marks a reversal of the restriction…
- Versofy SOLAR, a South African firm dedicated to solar energy solutions, has achieved notable progress in the renewable energy sector since its establishment in 2021. Having effectively deployed more than 50,000 solar panels in around 4,000 households nationwide, the company produces an impressive…
- Agricultural startups can gain empowerment through the synergy of Agritech solutions and digital marketing. With rising literacy rates in rural areas and advancing infrastructure, young farmers and agri-processors collaborating with the International Trade Centre (ITC) are poised to seamlessly…
- E4E Africa, a South African venture capital firm, has completed the first round of funding for its E4E Africa Fund II, achieving a milestone with a targeted size of US$30 million. The company is actively garnering interest from new investors globally, signaling its intent to expand its reach…
- Little, the ride-hailing app, has introduced a new platform that harnesses advanced Artificial Intelligence (AI) to allow people to craft their personalized Santa Christmas cards. This innovative technology empowers users to design holiday cards that perfectly match their preferences. Christmas…
- Bolt, the on-demand mobility company in Africa, has introduced new Trip Safety Monitoring features for its ride-hailing vehicles. These features offer enhanced support to drivers and riders through a dedicated in-house safety team. The update enables Bolt to automatically initiate in-app…
- The aerospace startup is in the process of establishing a network of autonomous airships, aiming to revolutionize the global delivery of goods and services. These airships, developed by the South African company, serve as a cost-effective alternative to drones, helicopters, and satellites. They can…
- MTN Group has initiated a series of satellite trials across Africa, collaborating with partners such as Starlink, AST SpaceMobile, and Lynk Global to explore the viability of various satellite broadband connectivity options on the continent. The telecommunications company is actively engaged in…
- iSchool, an Egyptian educational technology company, has secured $4.5 million in a recent funding round led by VentureWave Capital. The funding round garnered support from notable investors, including OneStop Capital U.K., Website Investment Network, and Oraseya Capital, the Venture Capital arm of…
- The AfricArena recently held its 7th Grand Summit in collaboration with anchor partner Amazon Web Services (AWS). The summit commenced with an announcement from Sthe Shabangu, Head of Public Relations at AWS Sub-Saharan Africa, unveiling the Gender Diversity Pledge. During her address, Shabangu…
- The AfricArena recently held its 7th Grand Summit in collaboration with anchor partner Amazon Web Services (AWS). The summit commenced with an announcement from Sthe Shabangu, Head of Public Relations at AWS Sub-Saharan Africa, unveiling the Gender Diversity Pledge. During her address, Shabangu…
- AstraZeneca has committed to planting up to six million trees in Kenya as part of its AZ Forest program to foster climate action, human health, and community resilience. The reforestation initiative, spanning six counties in western Kenya near the Rift Valley, encompasses over 3,500 hectares of…
- Africa’s mobile economy is burgeoning as internet adoption rises swiftly across the continent. Over 50% of the world’s fastest-expanding economies are located here. In 2023 alone, the mobile industry contributed a monumental $170 billion to Sub-Saharan Africa’s GDP, representing an 8.1% total share…
- In a digital hub, we can generate 300 digital jobs, fostering the creation of 1,500 opportunities for youths across five average-sized wards in a constituency. These hubs, situated in villages, will connect local youth with both national and international companies. Owalo reiterated the government’…
