- In 2019, A16z said that shortly, every company would be a fintech business. In another way that this forecast is coming true, MultiChoice Group, which owns media companies like DStv and SuperSport, is getting into fintech by starting a new joint venture to build an integrated payment platform for…
- The digital asset market place Patricia said that Bitcoin and naira assets were lost because of a security breach. The cryptocurrency platform said that its program for retail trading, Patricia Personal, had been hacked, but other crypto assets were not affected. As a result of the breach,…
- In Africa, many people get paid once a month. But what if you need money before your next paycheck? In the past, an employee had to borrow money from a bank or company. But these choices can be costly and take a long time. That’s where companies that make it easier to get paid come […] More
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- Wasoko is a B2B e-commerce startup that has been operating in Africa for seven years. The company has expanded into seven countries across East Africa, francophone Africa, and most recently, Southern Africa. Wasoko is the most funded B2B e-commerce startup in Africa, and its founder, Daniel Yu,…
- Artificial intelligence (AI) is rapidly changing the world, and education is no exception. In Africa, where access to quality education is often limited, AI has the potential to revolutionize learning and make it more accessible to everyone. There are already several ways that AI is being used in…
- Kunda Kids, a London-based startup that Africans run, has recently reached a big milestone. They finished a pre-seed fundraising round successfully and got a massive $700,000 to help their cartoon series based on African music grow and expand. With more money coming in, Kunda Kids can improve their…
- On May 17, 2023, the interim government of Guinea ordered a fresh internet shutdown ahead of two days of anti-government protests. The move is likely intended to discourage the planned demonstration and make it difficult for citizens to share information on social media platforms. This is not the…
- Zydii, a new Kenyan platform that is changing how employees are trained by offering digital soft and technical skills classes. It has recently gotten a lot of pre-seed funding, but the exact amount is still a secret. This exciting change was made public on May 17, which brought the attention of…
- Ad Dynamo, by Aleph, has launched in Nigeria. With this strategic move, Nigeria’s digital advertising industry is undergoing a significant shift that will revolutionize how brands interact with consumers in the country. The vast population of over 150 million internet users in Nigeria creates a…
- Dream VC, the first program to help African investment talent, has set a new record for prospective entrepreneurs from all over the continent who applied. With more than 4,000 applications in three cohort cycles, Dream VC is changing the African venture market and exciting investors and…
- Users sometimes undergo complicated, difficult steps to prove their identity. YouVerify is a Nigerian company that just started up in Kenya. It plans to work with local banks, telcos, and fintechs to solve the problems. Digital verification keeps growing in many places around the world. Since then…
- MFS Africa, a well-known pan-African fintech company, won the prestigious African Banker Awards in Sharm El Sheikh, Egypt. It was named Fintech of the Year. This award shows that the company is committed to changing the way millions of Africans handle their money by giving innovative payment…
- Under the Financial Advisory and Intermediary Services (FAIS) Act, the South African Reserve Bank (SARB) has publicly said that crypto assets are financial assets. This is a big step toward regulation. The choice was made after SARB’s first warning about the volatile nature of the crypto asset…
- Japan said on Friday that government officials from the Group of Seven (G7) would meet next week to discuss problems caused by ChatGPT and other creative AI technologies. Last week, the leaders of the G7, including the United States, the European Union, and Japan, decided to set up an international…
- Even though venture capital funding is decreasing worldwide, Africa’s climate tech business is heating up quickly. Last year, climate tech startups on the continent raised more than $860 million in equity funding, primarily for clean energy solutions. This is an astonishing rise of 3.5 times from…
- Critics have often said that eNaira, the digital cash used by Nigeria’s central bank, is a useless app. Because banks and other fintech companies already do everything the eNaira can do, and they do it better. An IMF report (PDF) just showed what critics have been saying. The International Monetary…
- Together with the World Health Organization (WHO) Regional Office for Africa (WHO) and Amref Health Africa, African governments, represented by their Ministers of Health, have started a regional initiative to deal with the health effects of climate change in Africa. This is an attempt to use the…
- With the addition of generative AI to Photoshop, digital artists will soon be able to use more powerful picture editing tools at the tip of their fingers. Adobe Photoshop, the standard software in many artistic fields, will soon have AI-powered image-editing software that will be the best of the…
- In 2018, the Guardian Nigeria reported that more than 190,000 qualified people were turned away from seven public universities in Nigeria. That’s a lot of people who could have gone to college but weren’t allowed to. And it’s not just an issue at these seven schools. Nigeria’s public colleges are…
- In a pre-Series C funding round, Norrsken22 and Blue Earth Capital led by Norrsken22, TymeBank received $77.8 million. With this new round of funding, TymeBank has now raised more than $260 million in cash. TymeBank is part of the Tyme Group, which is based in Singapore. It uses a plan that…
- A report from the National Association of Automobile Manufacturers of South Africa (NAAMSA) says that sales of electric vehicles in the country in the first three months of 2023 have already topped more than half of the total sales from last year. Since the beginning of the year, 232 electric cars…
- Telecom Egypt, which brought in 3.75 billion Egyptian pounds ($121.6 million) and helped pay for some of its debts. Mostafa Madbouly, the prime minister, said he would sell assets worth $2 billion by the end of June. This is part of a deal with the International Monetary Fund to reduce the role of…
- Messaging apps like Telegram, Signal, iMessage, and, more lately, Twitter – if you pay for a subscription – let you edit messages for a while now. Even though WhatsApp is the most popular and widely used messaging app globally, with more than 2 billion users, the company hasn’t decided about this…
- Africa Finance Corporation (www.AfricaFC.org), the continent’s leading provider of infrastructure solutions, has signed a Memorandum of Understanding with Morocco’s Ministry of Economy and Finance to provide project development, structuring, and financing solutions for projects in key strategic…
- According to the Micro, Small, and Medium Enterprises Development Agency (MSMEDA), small businesses in Egypt are significant to the economy. They comprise 47% of the country’s GDP and more than 75% of all jobs. But many small shops in Egypt still only accept cash, which can be slow and dangerous.…
- Even though Sabi, a B2B e-commerce company based in Lagos, has only been around for two and a half years, it has continued to increase in a market that has been hard to break into. Now, after getting $38 million in Series B funding, which puts its value at a massive $300 million, the company […]…
- Deal Source Africa program was officially launched at The West Africa Deal Summit in Accra. Its goal is to connect African businesses with investors, deal advisors, and African Impact Funds with investors. The program will help fill the $331 billion funding gap for small and medium-sized…
- Every customer is always right and is often used to tell service workers to prioritize customer happiness. But whether they are right or not, it is essential to remember that customer satisfaction should be the final goal. A Harvard Business Review study found that the top goal of 64% of financial…
- In May, the highly anticipated AfricArena Dakar FinTech, Mobility & Logistics Summit will take place in Dakar, Senegal, making it the center of attention. The summit will gather the brightest minds in business, technology, fintech, mobility, logistics, and investment to examine the flourishing…
- Africa Data Centres, which has the most extensive network of connected, carrier- and cloud-neutral data center facilities on the continent, has announced that it will soon start building on the land it bought in Accra, Ghana’s Central Business District. The new plant was built, to begin with 10 M.W…
- Balad, an Egyptian fintech startup, has raised a seven-figure USD pre-seed round of capital to launch its remittances platform, increase its workforce, and obtain essential licenses. The fundraising round was led by Acasia Ventures, formerly known as Cairo Angels, an Egyptian venture capital firm.…
- The Mineworkers Investment Company (MIC) gave $1.3 million to Quro Medical, a South African company starting up in the e-health field. Quro Medical, a company that started in 2018, has made a cheap and easy-to-use hospital-at-home solution that combines cutting-edge technology and software with top…
- Google is adding a new “About this image” tool to its image search. Users can determine if AI made a picture and where it first appeared online. This will let Africans check for themselves where pictures made by AI came from. As tools for artificial intelligence make it easier to create fake…
- Safaricom, the biggest phone company in East Africa, has paid $150 million to the National Bank of Ethiopia for a payment instrument provider license. This will let it bring its M-Pesa mobile money service into the country. With this permission, Safaricom will compete directly with Telebirr,…
- Last year, M-KOPA said that its network of more than 10,000 agents had given its underbanked customers over $600 million in loans,over $1 billion in credit to people in Africa who don’t have bank accounts. With a track record of success in East and West Africa, M-KOPA is getting ready to grow its…
- Businesses across the Continent increasingly use digital tools, directly increasing the need for connectivity. Cassava Technologies is a pan-African technology company. Today, one of its businesses, Liquid Dataport, revealed that it had launched the first terrestrial fiber link between Mombasa and…
- Critical minerals are needed for renewable energy technologies like solar panels, wind turbines, green hydrogen, electric vehicles (EVs), and battery storage. Africa’s mineral wealth could help the region and set the stage for the global energy transition. Aluminum is used in most low-carbon…
- The CRM Team and BUI are excited to announce the Power of AI Unleashed Roadshow Series, which will run from May to August 2023 in different places in Southern Africa. This set of events will teach you a lot about the latest developments in AI technology and how it can be used to change the […] More…
- Due to insufficient storage and handling, 37% of food produced in Sub-Saharan Africa is wasted, equating to 120-170 kg per individual per year. Similarly, it is claimed that 50% of all vaccinations worldwide are wasted due to cold-chain breaches. A Nigerian company called Figorr, formerly called…
- Ayoba, the African super app backed by MTN Group, has passed 25 million monthly active users as it celebrates its fourth anniversary. Ayoba is a super instant messaging app released in 2019 and owned by MTN. It gives private peer-to-peer messaging that is encrypted from end to end. The platform…
- When Google, also known as “AI-first” company, puts all of its weight behind the technology, you know that the AI race is entirely on.last week, the search giant held its yearly developer event, Google I/O, which showed how aggressively it wants to adopt and use the technology in most, if not all,…
- Nigeria will make a giant strand on blockchain technology with the recent national blockchain policy. But the West African nation will not welcome crypto anytime soon—blockchain policy or not. Federal Ministry of Communications and Digital Economy, On May 3rd, announced the approval of a national…
- MusicLM, Google’s AI that makes music, is now open to the public. But users must sign up for a line before using this new tool. Also, the data that users make while using the app will be used to train the AI system even more. Google made MusicLM, an AI-powered tool that can turn words […] More
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- Startupbootcamp Afritech and the DER.FJ has started a program in Dakar called “Startup Accelerator.” They are working together to invite top technology companies from all over Africa. This startup cohort will receive assistance in essential areas such as finance, management, and marketing. While…
- The European Investment Bank (EIB) has given €40 million ($43.4 million) to Wingcopter, a German startup specializing in making drones to deliver medicine and food to remote places. The investment will come in the form of “quasi-equity,” which means that some of it will be in the form of stock,…
- The power of artificial intelligence (AI) is becoming increasingly significant, and tech companies are taking notice. ChatGPT has become the go-to AI chatbot for many, prompting other tech giants, such as Microsoft and Samsung, to integrate AI into their brands. In a recent announcement, Slack…
- Planet42 is a South African-based start-up that has raised over $150m, offering a unique kind of financing for cars. It differentiates itself from competitors, such as Autochek and Moove, by renting used cars to customers on a subscription basis, with an option to buy. Since its launch in 2017,…
- Webfleet, Bridgestone’s fleet management solution, is expanding its services to the South African Development Community (SADC). This expansion has led to a recent partnership with Kgare Digital to provide high-end tech skills and jobs in Botswana, making it the third portion in the African market…
- Vodacom, the largest mobile network operator in Mozambique, has announced the launch of Mozambique’s first 5G network. The company plans to deploy 5G services at selected sites in Maputo, Matola, the central area of Nampula, downtown Nacala, Munhava, Maquinino, and Chipanga neighborhoods, Beira,…
- South Africa’s data mobile network operator, Rain, has expanded its network to break into the voice service market. They will now offer high-quality voice calls, data, and sms throughout the country. Titled “The rainOne” package, this service combines home internet, data, and voice services into…
