- With a population exceeding 20 million, Zambia faces challenges in internet connectivity, especially in rural areas due to inadequate infrastructure. DataReportal’s Digital 2023 shows the country has a 21.2% internet penetration rate, equivalent to 4.3 million users. Highlighting a proactive…
- Chefaa, a prominent health tech based in Egypt, has secured a significant $5.25 million investment in its recent funding round, co-led by Newtown Partners from South Africa and Global Brain from Japan. Noteworthy contributors to this funding include GMS Capital Partners LLC from the United States,…
- For the second time in less than two years, M-PESA and Visa have joined forces to enhance global payment options for their users. M-PESA, the widely used mobile money platform with 32.1 million users in Kenya and over 60 million across eight African markets, is making a significant move into the…
- Peter Njonjo, the CEO of Twiga, a Kenyan startup facilitating connections between farmers and food vendors, declared his intention to embark on a six-month sabbatical from the company last Thursday, triggering concerns that external pressures might influence his departure. This decision follows…
- The joint effort of the European Investment Bank and the Central Bank of Kenya has inaugurated a groundbreaking climate finance best practice initiative. This initiative aims to tackle obstacles hindering green financing and foster climate resilience within Kenya’s financial systems. In the…
- Copia Global, the Kenya-based e-commerce and fintech hub, has welcomed John Lazar, former CEO of Microsoft subsidiary Metaswitch, to its board following a successful $20 million funding injection. Enza Capital, LGT, Goodwell Investments, and others played critical roles in the Series C extension…
- Ikpeme Neto of WellaHealth, a Nigerian-based digital health insurance company, secured the African Business Heroes Prize, receiving $300,000 for contributing to creating over 123,000 jobs, both directly and indirectly. Ayman Bazaraa from Sprints (Egypt) secured $150,000, while Thomas Njeru from…
- SA Innovation Summit CEO Buntu Majaja looks back at this year’s successes and quantifies next year’s opportunities. SAIS2023 brought together 2,600 innovators from 26 countries The investment capital in attendance equalled around R30 mbillion Startups are pivoting to or building on AI In the…
- Winshot, a retail tech startup headquartered in Tunisia, has secured funding in the six-figure range to enhance operational efficiency and elevate the consumer experience for brands, retail chains, and franchise leaders. The funding, led by Tunisian VC firm 216 Capital, will empower Winshot to…
- Amidst challenges such as escalating food and fuel costs, currency fluctuations, climate impact, security concerns, political unrest, power shortages, and infrastructure constraints, Africa stands out as one of the world’s fastest-growing emerging economies. Projections suggest a promising…
- Mtor, an Egyptian online marketplace for auto parts, has secured $2.8 million in pre-seed funding, with leading support from Egypt-focused venture capital firm Algebra Ventures. The funding round also saw participation from notable investors such as the Dutch Founders Fund (DFF), Aditum Ventures,…
- Bujeti, the African corporate cards and spend management platform, has successfully secured $2 million in seed funding. The startup, which plays a crucial role in assisting African businesses, ranging from SMBs to startups and enterprises, in effectively managing and navigating their finances,…
- Nigeria recently introduced the Startup Support and Engagement Portal, a pivotal step in implementing the Nigeria Startup Act. Launched in May 2021 by the Nigerian presidency and influential figures in the tech sector, this legislation aims to establish clear guidelines for collaboration among…
- Co-authored by Dr. Nicaise Ndembi, Chief Science Advisor to the Office of the Director General of the Africa CDC & Michael Mynhardt, CEO at MMH & Partners Africa Africa, a continent of immense potential and diversity, has long grappled with complex healthcare challenges. The COVID-19…
- Saviu Ventures has successfully achieved the first closure of Saviu II, its second fund dedicated to Francophone Africa. The fund, backed by private investors and family offices, will enable Saviu to sustain its investments in the region’s most promising entrepreneurs. Co-founded in 2018 by Benoit…
- South African fleet management startup GoMetro has successfully concluded a Series A funding round, securing GBP9 million (US$11.5 million). The funding, led by new investor Zenobē and with significant participation from FutureGrowth Asset Managers, aims to facilitate the digitization of heavy-duty…
- SMEs aren’t immune to the threat of fraud – in fact, they often face equal, if not greater, risks due to tighter budgets and limited resources. It’s vital for these businesses to invest time and money in fraud prevention, as any financial instability could spell the end of their entrepreneurial…
- South Africa is experiencing a surge in cryptocurrency options as it approaches issuing its inaugural operational licenses for financial service providers. Payment and fintech companies are leading this trend, paving the way for commercial banks to likely join. Among recent developments is that…
- In February of the previous year, Kenyan insurtech firm Lami Technologies had initially announced its intent to acquire Bluewave, a fellow startup in the insurance sector. This move aimed to expand Lami’s range of products and facilitate its entry into new African markets. However, recent…
- Adaverse, a pioneering accelerator operating across Africa, the Middle East, and Asia within the Cardano ecosystem, has recently completed a strategic investment in Altify. While the exact investment amount remains undisclosed, this move marks a significant milestone in Adaverse’s mission to…
- Proparco, the French development finance institution, in collaboration with 27four, a South African investment manager, has led a substantial investment of R550 million (28.7 Million USD) into the Divercity Urban Property Group. This investment is accompanied by reinvestment from existing…
- 3Farmate Robotics, an innovative agritech company based in Ghana, has recently received a significant angel investment from a Silicon Valley investor, brokered by Alliance4ai.org, a key player in Africa’s AI sector committed to supporting breakthrough innovations. The exact amount of this…
- By Jacques Jordaan, Co-Founder & CEO at Specno The continent’s largest technology festival, the Africa Tech Festival, recently took place at the Cape Town International Convention Centre. Industry experts at the event focused on Africa’s ability to expand its fintech footprint, the latest in…
- 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…
