- Egyptian deep tech startup Intella has successfully concluded a pre-Series A funding round, securing an impressive $3.4 million. This substantial investment will play a pivotal role in supporting Intella’s expansion into the Saudi market and facilitating the development of tailored, end-to-end AI…
- Kippa, the Nigerian fintech startup, has officially announced its forthcoming discontinuation of its offline payment solution, KippaPay, effective from November 15, 2023. This strategic decision also entails the eventual departure of the core team responsible for managing this product, which will…
- Crafty Workshop, an Egyptian startup within the education technology sector, has achieved a successful $400,000 seed funding round. Leading this funding endeavor is EdVentures, the region’s inaugural corporate venture capital firm dedicated to educational technology. Founded in 2019 by Hadeer…
- Mediterrania Capital Partners, a renowned Private Equity firm with a specialization in fostering growth for Small and Medium Enterprises (SMEs) and mid-cap companies across the North Africa and Sub-Saharan regions, is delighted to announce a substantial €57 million ($60M) investment in CASH PLUS, a…
- Starlink, the satellite internet service owned by SpaceX and currently serving over 2 million customers across 60 countries, is expanding its horizons by bringing its connectivity directly to mobile phones. satellite arena, positioning itself to challenge Starlink in the years ahead. This scenario…
- Stitch, a South African fintech startup, has announced a substantial US$25 million extension to its Series A round, with Ribbit Capital leading the investment. This infusion of capital will be dedicated to the expansion of its comprehensive payment solutions and the venture’s entry into fresh…
- After witnessing substantial success in its operations and user engagement, Nigerian crypto venture Coinazer is venturing into the Brazilian market. Established in April 2022, Coinazer proudly serves a community of 5,000 users and has overseen transactions totalling a noteworthy $3.8 million.…
- Amenli, an Egyptian insurtech startup, recently secured a significant equity funding round of $1 million to expand its team, enhance its product offerings, and strengthen its brand presence. Established in 2020 by Adham Nauman, Omar Ezz El Din, and Shady Elohfa, Amenli delivers comprehensive…
- Sanari Capital, a majority black and female-owned private equity firm based in South Africa, has successfully secured $65 million for its growth fund. The primary goal of this fund is to stimulate job creation and foster economic development across the African continent. Sanari Capital invests in…
- IFC, the International Finance Corporation, has committed a $50 million equity investment to support fast-growing health and financial services companies across Africa, South Asia, and Southeast Asia. This investment is channeled through a new fund managed by LeapFrog Investments, a prominent…
- WATT Renewable Corporation (WATT), based in Nigeria, has successfully secured funding of US$13 million to enhance its operations as an autonomous provider of hybrid solar systems. Empower New Energy, a firm that operates as a lender and co-developer in the renewable energy sector, generously…
- Leading African payments company, Flutterwave has entered a 5-year technology collaboration with Microsoft to build an upgraded platform on Microsoft Azure. The goal is to accelerate payment innovation and small business growth across Africa. Small and medium enterprises (SMEs) are crucial for…
- Telecel Group, the majority owner of Vodafone Ghana, has added 300 new 4G sites across Ghana’s regions. This network expansion highlights Telecel’s growth strategy since acquiring 70% of Vodafone Ghana earlier this year. In February 2023, Telecel purchased Vodafone’s Ghana operations for an…
- Microsoft has partnered with Terragon, an African marketing technology company, to empower businesses with data-driven customer insights. The 3-year collaboration will see Terragon utilise Microsoft’s cloud platforms to boost its marketing offerings. Nigeria-based Terragon leverages data and…
- Google has announced the first 11 African startups chosen for its new “Google for Startups Accelerator: AI First” program. The 10-week program aims to empower emerging innovators leveraging AI across Africa. Google’s significant investment highlights its commitment to strengthening AI’s…
- The 2nd annual Women in Tech (WiT) Africa Awards recently recognized outstanding female leaders in technology across the continent. Absa co-hosted the event at Cape Town’s Mount Nelson Hotel on October 5th, 2023. The awards honored individuals making remarkable contributions to Africa’s tech…
- Ingryd Academy, a leading Nigerian tech talent training and outsourcing organisation, has unveiled its first cohort of 1,000 students in its new Scholarship Program. The program aims to tackle Africa’s tech talent shortage by training 4,000 professionals annually in skills like cybersecurity, data…
- Netflix is set to discontinue its free streaming offer in Kenya starting November 1st, 2023. The move comes as the platform faces mounting competition in Africa’s expanding streaming market. In 2021, Netflix launched a free service option for Kenyan subscribers to capitalise on the country’s…
- Stitch, a South African fintech startup, has secured $25 million in an extension of its Series A funding round to expand its open banking payment solutions. The round was led by global fintech investor Ribbit Capital, with existing investors like PayPal Ventures also participating. The Cape Town-…
- SpaceX has expanded its Starlink satellite internet service to Zambia, making it the sixth African country where the network is active. Starlink tweeted confirmation of its launch in Zambia last week, with the country newly listed as “available” on its online coverage map. Zambian President…
- Stears, a leading Nigerian data and intelligence company, is shifting from consumer-facing data to organization-focused intelligence solutions. Since launching in 2017, Stears has become an authoritative source on Nigerian data and analysis. However, based on user feedback, the company will now…
- The South African National Taxi Council (SANTACO), the country’s largest public transport association, is entering the ride-hailing market it once fiercely opposed. SANTACO-registered metered taxi drivers can now offer e-hailing services through platforms like Shuma Yo!Taxi, and Teksi Ride. SANTACO…
- Paystack, a leading Nigerian fintech, is expanding into offline payments with the launch of virtual terminals for in-person bank transfers. This allows merchants to accept direct bank payments from customers without physical point-of-sale (POS) devices. Paystack is seizing on the rapid adoption of…
- Baobab Network, an African tech startup investor, has announced plans to invest in 1,000 African companies over the next decade. Underscoring this goal is the launch of a $100,000 investment fund for early-stage startups on the continent. Founded in 2016, Baobab Network has been building a strong…
- October has been tagged as “Techtober” due to the many tech product launches and events that traditionally happen during the month. This October is no different in Africa, with various conferences, summits, and exhibitions taking place across the continent. These events highlight Africa’s growing…
- Bank Zero, a South African digital bank, has expanded into commercial banking by launching a business banking app. The app-based bank aims to disrupt traditional banks with its zero monthly fee model. Founded in 2018, Bank Zero entered the South African market in 2021 as a tech-driven alternative…
- Microsoft has partnered with leading African fintech company M-Pesa to provide digital skills training for micro, small and medium-sized enterprises (MSMEs) across the continent. The collaboration aims to boost the capacity and digitisation of African small businesses in Kenya, Lesotho, Mozambique…
- In the era of evolving mobility, the pursuit of a competitive onboarding process is undergoing a significant shift. 3 out of 4 millennials are ready to switch banks for a better mobile onboarding experience, and Gen Xers are increasingly leaning towards digital methods for opening bank accounts.…
- Emerging victorious from nearly 1,500 competitors, Cameroonian fintech Koree clinched the top prize at the Ecobank Fintech Challenge. The company secured $50,000 in non-dilutive funding, outperforming eight finalists. Wolf Technologies from the Democratic Republic of Congo came in second with $10,…
- Funding Overview: Q3 Witnesses the Year’s Most Modest Funding In September 2023, 22 African tech startups secured $116.7 million in funding over 22 fully disclosed rounds. This starkly contrasts the $243.7 million amassed in August 2023, marking a 52.11% decline. On a YoY basis, there’s a notable…
- Ahead of the Africa Bitcoin Conference (ABC), a preliminary gathering tailored for developers and Bitcoin community members was conducted in Lagos, Nigeria, on September 29, 2023. This occasion brought together developers, reporters, program coordinators, marketing professionals, students, and…
- SpaceX’s satellite internet service, Starlink, is reducing its prices in Nigeria to attract more customers. The cost of its kit has been cut by 20%, dropping from ₦378,000 ($378) to ₦299,000 ($299). Additionally, the company has collaborated with Jumia, the leading e-commerce platform in Nigeria.…
- In a time where the spotlight is increasingly shone on African startups, the complexities of scaling beyond national borders cannot be overstated. While local ingenuity is rife, the challenge lies in translating this into a global vision. African startups are not short on creativity and…
- Tanzania and Uganda have signed a historic Memorandum of Understanding (MoU) to integrate their national information and communication technology (ICT) networks in a deal worth $28.8 million. The 15-year agreement will connect Tanzania’s National ICT Broadband Backbone (NICTBB) with Uganda’s…
- Enza Capital, an Africa-focused venture capital firm supporting startups across the continent, has closed two new funds totalling $58 million. The capital targets companies bridging offline and online experiences while digitising key African industries. Enza embarked on its VC journey in 2019 by…
- South African mobility startup Loop has collaborated with Visa to introduce instant Tap-to-Phone payments for minibus taxi commuters and operators. The service is now live on Loop’s digitally-enabled taxis on the Mitchells Plain to Bellville route in Cape Town. Riders can simply tap to pay, enabled…
- Leading African payments company Interswitch has unveiled support for Google Pay on its payment gateway in Nigeria. This collaboration brings together Interswitch’s extensive merchant network and the user-friendly efficiency of Google Pay’s digital wallet platform. Google Pay provides seamless and…
- Global logistics company Maersk has opened an advanced warehousing and distribution (W&D) facility in Douala, Cameroon. The technology-driven facility provides efficient cargo handling in one of Central Africa’s most vital ports. Douala serves as a major gateway to surrounding markets, making…
- Femconnect is a South Africa-based femtech startup seeking to enhance women’s access to reproductive health products and services through its digital platform. Founder Anosele Kotu launched Femconnect in 2020 to tackle gaps in reproductive care she observed firsthand growing up. Limited clinic…
- Nigerian fintech startup Risevest recently acquired digital trading platform Chaka, continuing the trend of mergers and acquisitions (M&A) in Africa’s fintech space. The deal was confirmed this week by both companies’ founders after months of discussions. For Chaka, the acquisition provides a…
- Renowned startup accelerator Techstars Toronto has chosen 10 African companies among 24 total for its highly competitive 2023 summer program. The inclusion of these African innovators highlights Techstars’ ongoing commitment to developing entrepreneurship and technology ecosystems across the…
- Something big happened in digital healthcare promotion – Kenya secured exclusive approval from Google to run pharmaceutical advertisements across the tech giant’s far-reaching platforms. This makes Kenya the only country in Africa given the go-ahead to advertise prescription medicine and related…
- Amidst the UNGA Climate Week, Beyond Capital Ventures has revealed a fresh investment in Ampersand E-Mobility, an African company specializing in electric motorcycles and transport energy solutions. Ampersand has notably progressed in providing East Africa’s significant taxi motorcyclist community…
- The Bank of Mauritius has reported significant progress in its plans to unveil a central bank digital currency, with a pilot project set to commence in the coming months. Harvesh Seegolam, the Governor of the Central Bank of Mauritius, highlighted that the work is already advanced, and the…
- South African financial technology innovator Ukheshe has announced a notable update within its Scan to Pay application. This advance stirs the financial world by incorporating cryptocurrency payments into its offerings. Previously known as Masterpass, the Scan to Pay app by Ukheshe holds a vast…
- Revio, a South African startup specializing in payment API, has garnered seed funding of $5.2 million to expand its reach throughout the continent. The company, committed to assisting merchants in enhancing their order-to-cash lifecycle, has declared a $5.2 million seed investment. This new funding…
- OpenAI, supported by Microsoft (MSFT.O), announced on Wednesday that ChatGPT users will now have the capability to browse the internet. This new update goes beyond the prior limitation of a September 2021 knowledge cutoff. OpenAI, the artificial intelligence startup, shared that the latest browsing…
- Today, Google has declared the commencement of application processes for the Hustle Academy SMB Fund. This is a specific ₦75 Million fund provided without the necessity for equity return. This move underscores Google’s unwavering commitment to fostering entrepreneurial dreams and bolstering the…
- Safaricom, a prominent mobile network operator in Kenya, has revitalized its domestic cloud computing platform and services. This move aims to assist businesses and organizations in digitizing their operations, providing flexibility and resilience in an ever-evolving environment. Empowered by…
- After successfully investing $11 million in 29 initial-stage companies mainly concentrated in e-commerce, fintech, insurtech, health tech, and SaaS sectors, P1 Ventures, a comprehensive African venture capital firm, has achieved the first close of its new $50 million fund at $25 million. What’s…
