- The African Development Bank (AfDB) has given the Africa Fintech Network (AFN) a $525,000 grant to help it build a digital hub for fintech companies all over the continent. The AFN digital center, developed with Cenfri’s assistance, is intended to boost Africa’s fintech ecosystem and make the…
- These new plans are entirely wireless. “They will connect to either fixed-LTE or 5G,” an MTN spokesman told TechCentral. “To connect to 5G, the consumer must have a 5G home router within 5G coverage. If a subscriber does not have 5G coverage, the plan will revert to the fixed-LTE network.” The new…
- Senegal places a high value on data protection, and the nation’s Data Protection Commission (CDP) is committed to it. The CDP recently warned Yassir, a ride-hailing service from Algeria that has just expanded its operations to Senegal, advising them to adhere to the nation’s data protection rules…
- The Ministry of Finance (MoF) of the United Arab Emirates (UAE) just made a new Ministerial Decision, No. 73 of 2023, on Small Business Relief. In line with Article 21 of the Corporate Tax Law, this choice will help startups and other small or micro businesses by lowering their Corporate Tax burden…
- Artha India Ventures is a well-known family office that has been making waves in the African startup ecosystem since its formation in 2012. The company handles over 800 crores ($100 million) in third-party capital. It has invested in over 80 successful startups in India, the United States, Israel,…
- The Eskom Pension and Provident Fund plans to diversify into venture capital additional assets. Bloomberg says the fund manages about R185 billion in assets, about $10 billion. About two-thirds of those assets are in South African stocks, inflation-linked debt, land, and nominal bonds. The fund’s…
- Kenya’s President, William Ruto, has modified a provision in the country’s National Information, Communications, and Technology (ICT) Policy that required ICT firms to have at least 30% substantive Kenyan ownership to be licensed. The Equity Participation clause was added in 2019 to encourage local…
- The startup scene in the Middle East and North Africa (MENA) region witnessed a significant decline in funding, as per the latest report by MAGNiTT, a data platform for startups in the region. The study says that MENA-based startups raised $247 million through 67 deals in March 2023. This is a 67%…
- The Digital 2023: South Africa study from DataPortal says that more than a quarter of the country’s people still can’t get online. At the start of 2023, 72% of South Africa’s 43.48 million people were using the internet. There were about 25.8 million people who used social media. This was about 42.…
- Cryptocurrency has gained global popularity as a mode of payment and investment. Swaziland, a small country in Southern Africa, has been closely monitoring the rise of cryptocurrency. This article will explore the current state of cryptocurrency regulations in Swaziland. Legal Status…
- Nigeria’s technological landscape is a fertile ground for the development and growth of Web3 blockchain technology, which can potentially transform various sectors of the economy. Here are five reasons why: Increasing Acceptance of Cryptocurrency Nigeria has been one of the leading countries in the…
- Investing in cryptocurrencies has become increasingly popular in South Africa, with many investors looking for the best options to diversify their portfolios. Here are the top three cryptocurrencies to consider when investing in South Africa: Bitcoin (BTC) Bitcoin is the most popular and widely…
- Blockchain technology is rapidly gaining popularity in Zambia as a tool for promoting social good. This article will explore how blockchain is being used to improve social services, increase transparency, and promote financial inclusion in the country. Improving Social Services One of the most…
- The South African government has recently classified cryptocurrency assets as financial products under the Financial Advisory and Intermediary Services Act (FAIS). Here are five key implications of this decision: Increased Regulation Classifying cryptocurrency assets as financial products means…
- The world’s leading cryptocurrency is becoming increasingly popular in Malawi as more people seek to participate in the digital economy. In this article, we will provide a comprehensive guide on how to buy Bitcoin in Malawi, including the available exchanges, payment methods, and regulations.…
- The adoption of the Internet of Things (IoT) technology is on the rise in Nigeria, following the global trend which has seen spending on IoT devices and services reach $128 billion. Here are five areas where IoT is making an impact in Nigeria: Smart Devices for Home Automation In Nigeria, the…
- Artificial Intelligence (AI) has the potential to revolutionize various sectors of the South African economy, but it also poses unique challenges and risks. Here are five key issues to consider: Ethical Implications of AI The use of AI raises ethical concerns, particularly in areas such as…
- Sudan, a country in North Africa, has a long history of economic instability and political conflict. The country faces numerous economic challenges, including high inflation and a shortage of foreign currency. Bitcoin has emerged as a potential solution to some of Sudan’s economic problems in this…
- South Africa is emerging as a leading blockchain market in Africa, with a growing number of companies and startups exploring the potential of this technology. Here are five key factors driving the growth of blockchain in South Africa: Fintech Innovation The fintech industry in South Africa has…
- The adoption of the Internet of Things (IoT) technology is on the rise in Nigeria, following the global trend which has seen spending on IoT devices and services reach $128 billion. Here are five areas where IoT is making an impact in Nigeria: Smart Devices for Home Automation In Nigeria, the…
- South Sudan is a country in East Africa that gained independence in 2011. Despite being one of the world’s poorest countries, it has shown interest in the potential of cryptocurrency and blockchain technology. Here are some opportunities and challenges of cryptocurrency in South Sudan: Remittances…
- Cryptocurrencies, such as Bitcoin, have become a global phenomenon, and their adoption has been on the rise in many countries. However, the adoption of cryptocurrencies in Swaziland is still a matter of debate. In this article, we will explore the readiness of Swaziland for cryptocurrencies.…
- Zambia is a country in southern Africa experiencing a growing interest in cryptocurrency. This article will look closely at Zambia’s cryptocurrency landscape, including the current state of regulation, popular cryptocurrencies, and exchanges available to Zambian users. Cryptocurrency Regulation in…
- Zambia’s finance minister, Felix Mutati, has revealed that the government is testing blockchain technology to regulate the country’s growing cryptocurrency industry. In this article, we’ll explore the details of the pilot program and its potential implications for Zambia’s crypto industry. The…
- Zambia has recently joined the list of African countries that have introduced regulations on cryptocurrency. This article will provide an overview of Zambia’s cryptocurrency regulations, including its legal status, tax treatment, and other important aspects. Legal Status of Cryptocurrency In…
- The world’s leading cryptocurrency is gaining popularity in Malawi as more people seek to participate in the digital economy. In this article, we will explore the state of Bitcoin in Malawi, its adoption, challenges, and potential. Adoption of Bitcoin With limited awareness and infrastructure,…
- Cryptocurrency is a growing phenomenon in Namibia, with more and more people embracing digital currencies as payment and investment. However, the regulatory framework surrounding cryptocurrencies in Namibia is still evolving, leaving many uncertainties and questions among investors and businesses…
- Blockchain technology has the potential to revolutionize the logistics industry. It offers a secure, transparent, and tamper-proof way to record and track information, making it ideal for the supply chain management. In this article, we’ll explore the various ways in which blockchain is set to…
- Blockchain technology has been gaining popularity worldwide, and Mauritius is no exception. This article will explore Mauritius’ plans to embrace blockchain technology. Regulatory Framework The government of Mauritius has recognized the potential of blockchain technology and is working towards…
- Cryptocurrency is becoming a popular mode of payment globally. However, many countries have yet to regulate this new form of currency. In Namibia, the legal status of cryptocurrency payments is still a gray area. This article delves into the current state of cryptocurrency payments in Namibia. No…
- According to TechCrunch, London-based fintech Verto gained a quarter of Silicon Valley Bank’s customers from Africa and the Middle East following the bankruptcy of the U.S. bank last month. Verto offers a cross-border platform that helps startups, SMEs, and large corporations send, receive, and…
- The number of fintech companies in the kingdom grew by 79% from 2018 to 2022. By August 2022, there were 147 active firms in the field, compared to just 10 in 2018. Between September 2021 and August 2022, SAR 1.5 billion ($402.2 million) was invested in the field. A study by the Fintech Saudi…
- Peach Payments, a South African fintech company, has raised $31 million in a Series A funding round led by Apis Partners. This money will help the company grow its product line and speed up its growth across Africa. The startup gives businesses a full set of tools for accepting, managing, and…
- Novastar Ventures, a pan-African venture capital firm, has received a $25 million equity investment from the US International Development Finance Corporation (DFC) for its Africa People + Planet Fund, which aims to assist startups in developing agriculture and climate solutions. Novastar’s new fund…
- SpaceX’s Starlink internet service is gradually moving into the continent of Africa, starting with Nigeria and Rwanda. A recent article shows that 64.4% of the world’s population makes use of the internet with Africa being the third largest user. Given the disparity in the accessibility of the…
- The South Africa Competition Commission has taken steps to conduct a market inquiry into the dissemination of media content on digital platforms. This investigation examines the current market characteristics that influence digital platforms that disseminate news media content, which could impede,…
- Shuttlers, a Nigerian mobility startup, has raised $4 million in a round-headed by Verod-Kepple Africa Ventures, with involvement from existing investors such as VestedWorld. Shuttlers has now collected over $5.6 million in total funding. CEO Damilola Olokesusi started the business in 2016. It runs…
- Yellow, a firm that works to make energy and internet connections in Africa more affordable and reliable, has made a statement about its Series B equity round. Yellow has partnered with Energy Entrepreneurs Growth Fund (EEGF) through Triple Jump B.V., enabling the company to continue expanding and…
- Ramp, a global decision science start-up headquatered in the United Kingdom, recently raised $5 million in seed financing. AlbionVC headed the seed funding round, with Eurazeo also participating. The extra funds will be applied to speed up the onboarding of new customers. Why the Investors Invested…
- There are bugs on the way to your plate! And not just as a funky addition to your salad; they’re the future protein source, and Maltento, a South African GreenTech company, is leading the way. Maltento is turning organic waste into protein-rich biomass using the larvae of Black Soldier Flies (BSF…
- Paymenow, The largest Earned Wage Access (EWA) firm in South Africa, received an R250 million (USD14 million) loan from Rand Merchant Bank (RMB). This is a big step forward for the EWA market in South Africa. EWA lets workers take out a portion of their earned wages before the end of the payroll…
- Camel Ventures, based in Egypt, has revealed the launch of Camel Ventures for Investment I, its first venture capital investment vehicle. (CVI). The EGP 500 million (about $16 million) fund finances the country’s fintech startup ecosystem. It does this through various equity investments and venture…
- To address this gap, Moni has built a risk engine that combines financial data and business performance with social intelligence to enable more effective credit decisions for African SMEs Starting with Nigeria, small company owners with an excellent social reputation only need an invite from an…
- The 12 startups chosen were GroIno, Gokaden, Paramedic, Retco, BlueDove, Deepleaf, PopCard, Matricis.ai, Tinkiet, Exwayz, Entroview, and Qaal. The startups being incubated are either from Africa or Europe. They were started by Moroccans who want to grow their businesses in Africa and the Middle…
- The International Development Association (*IDA) will pay for the Mozambique Access to Finance and Economic Opportunities Project (Mas Oportunidades) with a $300 million credit accepted by the World Bank Board of Directors yesterday. The project will run for six years, from 2023 to 2029. Idah Z.…
- On March 30, 2023, Kenya’s President William Ruto said that as of July 1, 2023, startups based in Kenya would not have to pay taxes on unrealized gains. The president said this at the American Chamber of Commerce Regional Business Summit held at the Ole Sereni Hotel in Nairobi. He said his…
- Goodwell Investments and the Dutch organization Oxfam Novib have joined forces to make Pepea a €20 million ($21.7 million) fund that will give money to new businesses in Kenya, Uganda, and Ethiopia just starting. Pepea will offer companies in the sustainable agriculture, energy, clean mobility,…
- The CHIL Femtech Center, part of the CHIL AI Lab Group, has released a new telemedicine technology that will help kids in schools across Africa get medical care. Students will have full-time access to online doctors through the company’s product. This is important because more than 80% of schools…
- According to WeeTracker report, Nigeria-based business banking startup Moniepoint is poised to acquire Rwandan neobank Payday in a cash-plus-equity transaction valued at less than $40 million. The deal seems to have been agreed to in principle at the end of Payday’s $3 million seed round, which was…
- The European Union has provided Kenya with Ksh 50 billion, equivalent to $378 million, to facilitate the electrification of the public transportation infrastructure in that country. Because of this investment, Kenya will be able to construct the infrastructure required to improve the effectiveness…
