- Nigeria, a rapidly growing economy in Africa, is witnessing a strong interest among businesses in leveraging cutting-edge technologies to propel their growth strategies. As per Equinix’s 2023 Global Tech Trends Survey findings, 47% of Nigerian businesses are actively adopting interconnection…
- Twenty Ghanaian startups has completed the UNICEF StartUp Lab Accelerator and collectively received funding of $445,000. These twenty outstanding Ghanaian entrepreneurs graduated from the program after completing a six-month intense accelerator program focused on business and product development.…
- The West African region is witnessing the emergence of a pipeline of innovative renewable energy projects, contributing to the advancement of sustainable solutions. To showcase these developments, the upcoming MSGBC Oil, Gas & Power conference, organized by Energy Capital & Power and taking…
- Kenya has been actively addressing tax leaks for the past few months, resulting in significant progress. The Kenya Revenue Authority (KRA) has not only met but exceeded its targets, achieving a remarkable 6.7% increase in the financial year of 2022/2023. Compared to the 2018/2019 financial year,…
- Apple Pay has officially launched in the country, providing a convenient payment option for customers. Apple updated its regional website to confirm that two major banks in Morocco, Crédit immobilier et hôtelier (CIH) and Crédit Agricole Group of Morocco (CAM) Bank, now support Apple Pay. CIH Bank’…
- HealthDart, a promising start-up based in South Africa, is dedicated to revolutionizing the national healthcare system by implementing technology-driven solutions. Inefficiencies within the public healthcare system in the country, such as long waiting lists and time-consuming clinic queues, have…
- Chapa, the leading payment solution provider in Ethiopia, has partnered with Telegram, one of the world’s most popular messaging apps. This partnership will allow merchants on Telegram to accept payments from their customers without having to leave the app. This is a significant milestone for…
- Kenyans have taken to Twitter using the hashtag Maandamano to voice their protests against the high cost of living in the country. These demonstrations have not only caused disruptions in public transportation but have also affected businesses offline. On Wednesday, July 12, a significant protest,…
- Uganda’s parliament has approved the imposition of a 5% levy on the revenues earned by foreign digital companies, including Facebook (Meta), Twitter, Amazon, and Netflix. The move aims to generate tax revenue from these companies for their operations in the country. Failure to comply with the tax…
- Airtel Kenya has officially launched its 5G network, becoming the second telecom operator in the country to introduce the next-generation technology. The rollout follows months of testing and comes after Safaricom introduced 5G services in October 2022. Earlier this year, Airtel Kenya expanded its…
- Africa is poised to become the fastest-growing region in terms of fintech revenue, according to a recent report by Boston Consulting Group (BCG) and QED Investors. The report, titled “Global Fintech 2023: Reimagining the Future of Finance,” predicts that Africa’s fintech market, led by countries…
- Moove, a Nigerian mobility fintech firm, has acquired an extra $8 million in funding from Absa Corporate and Investment Banking (CIB), bringing its total capital from the bank to $28 million. This latest investment follows a previous funding round in June 2022, where Moove received $20 million from…
- The global popularity of Afrobeats, a prominent African music genre, continues to soar. A recent report from Spotify, the popular music streaming service, revealed that in 2022 alone, the Afrobeat genre received over 13 billion streams, a significant surge compared to the 2 billion streams in 2017…
- From July 25, 2023, Apple plans to adjust app prices and in-app purchases in Egypt, Tanzania, and Nigeria. This decision is attributed to changes in tax laws, foreign exchange rates, and the introduction of Value Added Tax (VAT). The price adjustments set by Apple in these markets will affect both…
- Elon Musk, renowned as the founder of Twitter and CEO of Tesla and SpaceX, has made an intriguing announcement about creating xAI, a cutting-edge artificial intelligence startup. The primary mission of xAI is to delve into the depths of understanding the true essence and nature of the universe.…
- The African startup ecosystem witnessed a notable downturn in the first half of 2023, as revealed by data from venture capital data platform MAGNiTT. During this period, venture capital firms invested $951 million in the startup ecosystem, marking a 54% decline compared to the previous year’s first…
- The African tech ecosystem reached a noteworthy milestone by the end of 2022, surpassing the US$3 billion mark in investments, indicating a remarkable growth of 55.1% compared to the previous year. The Fintech sector in South Africa, in particular, is undergoing a revolution, witnessing the…
- African startup Propel, based in Berlin, just received €2.5 million in seed funding. The company, specializing in last-mile infrastructure for tech talent communities, aims to foster growth and address the unique requirements of these communities. No Such Ventures, a Dutch venture capital firm,…
- In a bid to enhance financial transactions and promote digital payments in Somalia, the government has placed its focus on QR codes. However, due to challenges related to low internet penetration and limited smartphone usage in the country, implementing debit cards appears to be a more viable and…
- Huawei’s latest invention, the Private Broadband Network known as Evolved Long-Term Evolution (eLTE), is set to target the hydroelectric industry. This network will enable voice transmission, data, and video services in hydroelectric generation plants as well as in underground areas. This new…
- DevCareer in its latest move has partnered with UK-Nigeria Tech Hub, an initiative by the UK government’s Department for Digital, Culture, Media, and Sports (DCMS). DevCareer is a nonprofit organization that is committed to supporting young Africans looking to break into the tech space. This…
- Safaricom, a key telecommunications operator in Kenya has unveiled a new service that will lead to the expansion of its customer base in the Nation. The company’s latest feature allows customers to make use of their internet data bundles to purchase goods and services. This new feature is available…
- Bolt, the leading on-demand mobility app in Africa is introducing a new feature to enhance its in-app safety measure. The company has announced the addition of an audio recording feature that allows riders and drivers to start recording their trips within the Bolt app. This new feature will enable…
- Elon Musk has recently introduced a new measure aimed at solving the growing problem of data scraping and data manipulation on the microblogging app. In a bid to solve this issue, Twitter has initiated a daily limit rule, which means individuals are limited to viewing a particular number of tweets…
- The Central Bank of Nigeria (CBN) has changed the limits on how much you can spend on mobile payments in the country. These changes went into effect on June 27, 2023. These limits, outlined in the CBN’s document titled “Guidelines on Contactless Payments in Nigeria,” say that Nigerian accounts or…
- Securing funding is a crucial challenge for startup founders in the tech ecosystem. It’s an important decision that can determine the success of a startup. Funding can be obtained from external sources such as venture capitalists, angel investors, and crowdfunding platforms, while bootstrapping…
- Healthcare in Africa is a complicated and multifaceted problem with a lot of challenges and chances. With more than 1.3 billion people living in different countries, cultures, and economic situations, ensuring everyone gets the health care they need is still a big job. Although headway has been…
- Zuvy, a Nigerian invoice financing startup, has announced the successful procurement of a $4.5 million investment in a funding round comprising both equity and debt. Investment firms TLG Capital and Dunbar Capital took the lead in the financing, followed by Next Chymia Consulting HK, Vicus Ventures…
- Imagine being immersed in a captivating digital chat with a man who ticks all your boxes. As the interaction intensifies, you suggest something spicy, only to be met with an unforeseen response: “I’m sorry, but as an AI language model, I cannot go that far.” Welcome to the new era of dating. Fresh…
- WhatsApp has unveiled a faster, QR code-based approach to migrate chat data from an old phone to a new one. This advancement allows users switching to a new device with the same operating system to shift their WhatsApp data over a local Wi-Fi network. Both devices should be powered on and connected…
- The Ghanaian health tech startup Berry Health raised $1.6 million in a pre-seed funding round. The funding round saw participation from large-scale U.S. fund Lightspeed Ventures and General Catalyst, with the former marking its debut investment in Africa, thereby indicating the rising potential of…
- If you live in South Africa and want some magical fun, you’ll be happy to hear that Disney+ is now available there. With Disney+, you can watch a huge number of exciting movies, TV shows, and exclusive material from Disney, Pixar, Marvel, Star Wars, and more. Setting up Disney+ on your device is…
- Senegalese fintech startup, Wave, has gained recognition as the sole African company featured on Y Combinator’s list of the top 50 revenue-generating companies in 2022. This prestigious list includes well-known companies such as Monzo Bank, Coinbase, Zapier, Webflow, and Stripe. The list features…
- Social media has become a strong tool that can bring people together from all over the world. In addition to bringing people together, the platforms have become a great way to find information, improve risk management, and make the customer experience better. It’s easy to see why most foreign…
- OpenAI, the organization behind the development of ChatGPT, has been hit with a $3bn lawsuit over accusations of illegitimately harvesting extensive volumes of personal data to train its artificial intelligence systems, in a race for profitability. The company, alongside its principal supporter…
- Egypt’s economic problems don’t seem to have hurt the food business. The field has grown a lot, which you can see by how many more domestic and foreign brands are in the market. With an annualized revenue of $22 billion and a growth rate of 16.8%, this field is the second fastest-growing in the…
- The Central Bank of Nigeria (CBN) recently made headlines with a new regulation that requires banks to collect and verify customers’ social media handles as part of their Know Your Customer (KYC) process. The move is aimed at combating financial crimes and strengthening customer identification…
- In a noteworthy collaboration, Flutterwave, a prominent African tech company, has unveiled its strategic partnership with Microsoft. The aim is to construct an advanced payments platform on Microsoft Azure that will power seamless transactions in Africa and beyond. This joint effort will bolster…
- Job seekers often face the challenge of expressing their interest in working for a company, especially when there are no current job openings or they are not yet ready to apply. However, LinkedIn has recently launched a groundbreaking feature that simplifies this process and allows individuals to…
- Seedstars Capital and Fondation Botnar have launched the “Seedstars Youth Well-being Ventures mandate”, a $20 million investment aimed at enhancing the welfare of youths in Africa’s lower- and middle-income countries. The partnership has already demonstrated its potential with an early joint…
- In the final quarter of 2022, Nigeria’s government prioritized the transition to a cashless society to reduce the reliance on physical currency. This push by the government, backed by the Central Bank of Nigeria, involved introducing new banknotes and implementing lower cash withdrawal limits.…
- Since its launch by the African Union and the African Export-Import Bank (Afreximbank) in 2022, the Pan African Payment and Settlement System (PAPSS) has initiated a significant transformation in cross-border transaction processes, bringing more than 25 commercial banks into its network. Ecobank’s…
- Selected recipients of Google’s Black Founders Fund reveal to TechCabal their strategy to utilize the fund to amplify their business impact and ensure continued growth. Google recently announced its list of 25 African startups that would benefit from non-equity funding of up to $150,000 and up to $…
- Accessing electricity has long been a major hurdle for most African nations. As the International Energy Agency (IEA) reports, approximately 580 million Africans lacked access to electricity in 2019. This statistic represents over half of the global population without this essential resource. The…
- In the entrepreneurial landscape, startups are critical engines of innovation, job creation, and economic development. Several European nations, aware of this immense potential, have long since implemented tax breaks designed expressly to bolster and foster the growth of startups. Indeed, this…
- Ethiopian startup Kubik has raised a whopping $3.34M in an oversubscribed seed investment round .This a significant step forward for the circular economy and climate technology sectors. The company, which repurposes difficult-to-recycle plastic waste into cost-effective, low-carbon building…
- A recent report from the International Finance Corporation (IFC) predicts that by 2030, an estimated 230 million jobs in Sub-Saharan Africa will demand some form of digital competency. This forecast reveals the region’s considerable need for improved digital literacy as it currently bears the world…
- Vendease, a promising food tech startup from Nigeria, has been recognized as a 2023 Technology Pioneer by the World Economic Forum (WEF). This prestigious accolade is bestowed upon companies leading the way in technological innovation and potentially impacting society and business significantly.…
- Africa REN Pioneers Walo Storage Project in Senegal Gilles Parmentier, the CEO of Africa REN, is lauding the breakthrough Walo Storage Project in Senegal. This initiative has secured close to $35 million in funding, set to transform the energy canvas of the nation. West African renewable energy…
- Alternative fund managers are projecting a significant increase in inflows from pension funds in the coming months, underscoring a growing interest in alternative investments for retirement portfolios. A recent study by Ocorian, a leading provider of entity administration and alternative fund…
