- The National Bank of Rwanda has given Flutterwave two licenses, which allow it to provide remittance services and work as an electronic money issuer in the country. Flutterwave is an African fintech unicorn. The move is part of the company’s plan to grow in East Africa, where it already has…
- The operational setup of Impact Investing Ghana’s Ci-Gaba fund of funds has started .This fund of funds aims to help local capital providers access $75 million in local and international financing. These local investors are putting their money into small and medium-sized businesses (SMEs) to help…
- EchoVC, a technology-focused early-stage VC firm with offices in Lagos that invests in underrepresented founders and underdeveloped markets, has launched EchoVC Chain, an $8 million “pilot” seed fund for blockchain startups. Since a few years ago, blockchains have been very interesting to us at…
- FairMoney, a Nigerian digital banking platform, has bought PayForce, a small business payment service for merchants. This is part of its plan to offer more financial assistance to merchants. Sources say it was a cash-and-stock deal worth between $15 million and $20 million, but the terms of the…
- To encourage entrepreneurship and the development of jobs in Africa’s largest economy, the Nigerian government has established a $672 million fund aimed at young business owners in the technology and creative industries. Vice President Yemi Osinbajo announced the Investment in Digital and Creative…
- Last week, news emerged that Silicon Valley Bank, a major lender to startups worldwide, had gone out of business. The Federal Deposit Insurance Corporation (FDIC) took over the bank and put it in receivership. This is the most significant failure of a U.S. financial institution since Washington…
- SwiftVEE, a South African company that was one of the first to trade livestock, has released PrysWys, an app that will help farmers save money on inputs. PrysWys is a retail service that connects farmers directly to manufacturers of inputs. It is available in the Apple App Store, the Google Play…
- Telkom, the largest integrated communications company in South Africa, has started using the Chat 2 Pay feature from Clickatell, the leader in Chat Commerce and business messaging. Millions of Telkom customers can now pay with WhatsApp, the most popular chat app in the country. Telkom now offers…
- Ukheshe, a leading fintech enablement partner, is working with others in East Africa as part of its plan to grow. Anthony Karingi, the company’s vice president for business development in the region, says they know how important it is to make partnerships and use local knowledge when they move into…
- Following recent African cyber security attacks and hefty AML bank fines, compliance is on everyone’s mind. As a result, this article will concentrate on one of the most crucial business security measures available today: AML. Anti-Money Laundering is what AML stands for. Many businesses use AML…
- Thabiso Foto, the chief financial officer of Founders Factory Africa, talks about how fintech has helped improve access to financial services in Africa over the past ten years. Fintech solutions are made for the underserved, including low-income people, women, people living in rural areas, and…
- OneConnect is PowerSchool’s first channel partner in Africa. PowerSchool is a major provider of cloud-based software for K–12 education in North America. OneConnect, an innovative company that offers turnkey technology services and solutions in South Africa and all over Africa, will help…
- The Bank of Ghana has given Cross Switch Ghana L.T.D. permission to work as an Enhanced Payment Service Provider. This is good news for Cross Switch Ghana L.T.D. and Cross Switch International S.A.R.LThe Bank of Ghana just gave Cross Switch Ghana L.T.D. permission to work as an Enhanced Payment…
- Naspers, Africa’s most valuable tech company, has stopped running its R1.4 billion ($100 million) South Africa-focused venture capital fund, Naspers Foundry. According to a report by a local news outlet, BusinessDay, this is because the global recession has hurt the venture capital industry. The…
- With the launch of Miva Open University, uLesson, a Nigerian edtech company that offers online K–12 education across Africa, is moving into higher education. The pan-African distance e-learning institution will be a fully licensed degree-granting institution that offers undergraduate courses in…
- According to the latest data from International Data Corporation (IDC), Kenya’s smartphone market dropped for the second quarter in Q4 2022, with shipments down 13.5% year on year (YoY). In its report, the global technology intelligence firm said that supply shortages and rising prices were the…
- PayShap, an interbank and real-time digital payments service developed in collaboration with Bankserv, a clearing house owned by South African commercial banks and the South African Reserve Bank, will launch on Monday, March 13. PayShap says it will make it easy and safe for banked and unbanked…
- In the past few years, the venture capital scene in Africa has grown a lot, with more investors and startups joining the market. A report from AVCA in April 2022 said that between 2014 and 2021, the number of transactions on the continent grew at a compound annual rate of 32%. However, the business…
- IDC, a global technology research and consulting firm, says that in the first quarter of 2023, the Middle East and Africa (MEA) personal computing devices (PCD) market, which includes desktops, laptops, workstations, and tablets, will drop by 18.9% from the same time last year. International Data…
- Nigeria’s broadband penetration has gone from 41% in January 2022 to 48%, according to the latest numbers from the Nigeria Communications Commission (NCC). There are 92,011,259 million broadband subscriptions in the country. Techloy’s analysis shows that the growth rate has been around 0.5% since…
- Telecoms giant MTN Nigeria has raised 125 billion ($302 million) through a commercial paper issuance to meet its short-term working capital and funding needs. As part of MTN Nigeria’s plan to issue 150 billion worth of commercial paper, the company sold a 188-day commercial paper with an 11% yield…
- According to a report by Semafor, which cites sources familiar with the matter, Nigeria’s leading fintech startups are reportedly working together on a strategy to combat fraudulent transactions in their networks. This strategy includes the development of a shared registry of individuals who are…
- Osun state in Nigeria has officially abolished right-of-way fees, allowing telecom and internet service providers to lay fibre optic cables for free. Osun State Governor Ademola Adeleke announced today the cancellation of ROW fees as part of a digital economy policy. The state thinks that getting…
- The Central Bank of Nigeria (CBN) has approved the rules for open banking. This means that Nigeria will now have an open banking regime. With this rule, Nigeria is the first African country to have an Open Banking rule. Musa Jimoh, in charge of the CBN’s Payments System Management Department, sent…
- Villgro Africa has put more than $1.36 million into 36 Kenyan healthcare startups in the last seven years. As part of its plans to grow in the region, the company plans to open a Biotech Innovation Hub. The incubator and impact investor announced these plans at the annual 2023 Sankalp Summit, where…
- The International Finance Corporation (IFC) and Viva Technology have announced the second edition of the AfricaTech Awards. This is an effort to bring attention to Africa-based companies that have devised innovative ways to solve critical development problems related to climate change, healthcare…
- NTT, a major IT company that provides infrastructure, and IT services with a branch in South Africa has come to announce its Partnership with Cisco, a global technological brand to push for the adoption of Private 5G across different sectors including; Healthcare, Automotive, Logistics, and Retail…
- Liquid Intelligent Technologies, a leading fibre company in Africa has recently announced an alliance with Microsoft which fulfills Microsoft’s Airband initiative of increasing its connectivity to accommodate 20 million people from African Countries like Zambia and the Democratic Republic of Congo…
- Digital technology is rapidly changing many sectors in Africa and in the world and the Sudanese media industry is not left out. With the surging inflation and depreciation in currency posing a challenge to the nation’s economy, news readers are rapidly turning to their mobile phones to stay…
- Meta’s WhatsApp rolls in a new feature in its recent update after noting the high increase in voice messages daily. According to Meta, WhatsApp Users send 7 billion voice messages daily thus inspiring this latest addition. After its beta testing in January, the WhatsApp voice status function has…
- Different African Countries like Nigeria, Liberia, Sudan, Chad, Zimbabwe, Sierra Leone, and DR Congo are headed for an election in 2023. However, with the increasing wave of falsified news across social media platforms, it can affect the integrity of the elections which is where fact-checking comes…
- Envisionit Deep AI, a South African health tech startup that uses artificial intelligence (AI) to improve diagnostic imaging accessibility and quality, has received $1.65 million in funding from New GX Ventures SA. Dr. Jaishree Naidoo, Terence Naidu, and Andrei Migatchev started Envisionit Deep AI…
- group of venture capital funds, including Breega and INCO Ventures, gave the Guinean fintech startup YMO €3 million ($3.2 million) in seed funding. The investment is one of the most significant amounts a Guinean startup has ever gotten. Abdoulaye Barry started YMO in 2019 and, at first, offered an…
- Guardrisk, a South African cell captive insurance company, is looking for innovative insurtech companies to help with its US$2.8 million LAUNCHPAD project. Guardrisk, a subsidiary of Momentum Metropolitan, says that the goal of the effort is to use the power of its tech-enabled ecosystem to make it…
- TechInAfrica – Fawry, Egypt’s leading e-payments solutions and banking services provider and one of the largest Fintech companies in the country, has just announced its latest partnership with all-in-one restaurant management system Syrve to enable seamless payments and automated checkouts to the F…
- TechInAfrica – The UAE’s Ultra app, BOTIM, that Astra Tech has recently acquired, and Fawry, Egypt’s leading digital payments platform, have signed a groundbreaking agreement to provide residents in the UAE and GCC countries with a seamless and convenient way to pay bills & invoices in Egypt…
- Cisco, a world leader in technology, and NTT Ltd., a global leader in IT infrastructure and services and the parent company of Dimension Data, have said they will work together to help the Automotive, Logistics, Healthcare, Retail, and Public sectors adopt Private 5G. NTT and Cisco plan to work…
- South African chemicals and energy company Sasol has announced the launch of Sasol Ventures. This venture capital fund will invest in start-ups and early-stage technologies to help the company reach its decarbonization and net-zero goals. The fund will focus its investments on environmentally…
- Fintech startup Amwal, based in the Middle East, has raised $2.5 million in a pre-seed funding round led by Shorooq Partners, Outliers Venture Capital, and several angel investors. The company wants to change how money is verified worldwide by putting device identification, fraud prevention, and…
- The first Africa Digital Finance Summit will be held from May 24 to May 26 at the Sandston convention center in South Africa. The theme of the three-day conference is “The Future of Finance in Africa: Our Path to a New Africa. At the Summit, there will be a thought-leadership conference with…
- Kenyan Assets Recovery Agency (ARA) has dropped money laundering charges against Flutterwave, an African fintech unicorn. This means that KSh6.6 billion (about $51 million) frozen in the company’s account seven months ago can now be released. CEO Olugbenga Agboola had been trying to access the…
- The Startup Act 2.0 project will debut in Tunisia. An updated version of the Startup Act project that offers more ways to emphasize the startup environment. A few months ago, the Ministry of Communication Technologies, the Ministry of Economy, the Ministry of Vocational Training and Employment, the…
- Solar mini-grids can bring high-quality, renewable electricity to villages and communities in Sub-Saharan Africa that don’t have access to it. This is the least expensive way to close the energy access gap on the continent by 2030. Solar mini-grids are better for reducing greenhouse gas emissions…
- Envisionit Deep AI is now ready to grow thanks to a $1.65 million investment from New GX Ventures SA. This company is a partnership between New GX Capital, RMB Ventures, and GIIG Africa. This happened after the company was chosen as the winner of the African Startup Awards for the Southern Africa…
- According to a report by Africa: The Big Deal, Northern Africa got $1.1 billion, which was 23% of all the startup funding raised on the continent in 2022. This made it tied with Eastern Africa for third place on the continent. Egypt dominated the region, accounting for three-quarters of all startup…
- On February 22, Orange Morocco opened its first Orange Fab in Casablanca. It is a startup accelerator and the third part of Orange Digital Center Morocco. By opening its first Orange Fab in Morocco, the operator hopes to add to the startup scene’s positive energy there. The main goal of the new…
- Startup Wise Guys, a VC and accelerator firm, has closed the first $26.7 million of the US$48 million that will be used to support its new strategy that focuses on international regions that are currently underserved by capital investment. Startup Wise Guys is an organization that was started in…
- The AfricaGoGreen Fund (AGGF) made headlines today when it announced that its second fundraising round was a success. It raised $47 million from the International Finance Corporation (IFC), the African Development Bank (AfDB), the Nordic Development Fund (NDF), and the Sustainable Energy Fund for…
- On Monday, February 20, 2023, the European Union Delegation in Rwanda, the Embassies of EU Member States, and their agencies took part in Ride Rwanda 2023. This four-day cycling event was part of the annual Tour du Rwanda cycling event. In the first stages of the race, between Kigali and Rwamagana…
- Hollydesk, an Egyptian fintech company, has gotten $1 million in venture debt funding to grow its expense management platform for small and medium-sized businesses in Egypt. The platform has a set of tools for keeping track of and managing expenses, automating workflows for approval, and making…
