- Build Your Dream(BYD) , a leading Chinese electric vehicle manufacturer, has recently announced its expansion into Rwanda, marking its entry into another East African nation following its success in Kenya. The company’s strategic move into Rwanda is in line with the country’s commitment to…
- Miden, a startup from Nigeria, has been selected to take part in Y Combinator’s winter 2024 group. This decision makes Miden the newest Nigerian startup to join this year’s winter group, following in the footsteps of Cleva, a service for cross-border payments. Miden, which provides virtual cards in…
- Entering a new year is like stepping into a world of endless possibilities, and for tech enthusiasts, TECNO and itel are poised to make 2024 an exhilarating journey. After a successful 2023 in South Africa, which saw the launch of the SPARK 10 Series, both brands are gearing up for another…
- Standard Chartered Bank and Village Capital have recently joined forces to invest in impact-driven, women-led startups. This partnership aims to address the gender financing gap in the entrepreneurial ecosystem by launching a financing facility to support Standard Chartered’s Women in Tech program…
- DXwand, a leading artificial intelligence (AI) startup based in the Middle East, has recently completed a successful Series A funding round, raising a total of $4 million. The investment round was spearheaded by notable investors such as Shorooq Partners and Algebra Ventures, with the Dubai Future…
- Paymob, a prominent financial services provider in the Middle East, North Africa, and Pakistan (MENA-P), has recently joined forces with Mastercard. This collaboration aims to boost digital payment adoption throughout the MENA region. This comprehensive, omnichannel partnership will utilize the…
- Amazon Prime Video is reportedly reducing its operations in Africa and the Middle East, as detailed in a Deadline report. This strategic shift will lead to a decreased focus on these regions, impacting local teams. As part of this realignment, Prime Video will discontinue commissioning original…
- Google has recently unveiled new AI-driven enhancements to its search engine, as announced by Elizabeth Reid, the Vice President of Search at Google. The company is introducing two significant updates, designed to simplify the process of finding answers on Google Search: the “Circle to Search”…
- Motorcycle taxis, a prominent mode of transportation in Africa, hold significant promise for electrification as electric two- and three-wheelers gain popularity across the continent. These insights are drawn from a recently published report by the United Nations Environment Programme (UNEP), which…
- Egyptian educational technology startup, Edura, has successfully completed an undisclosed pre-seed funding round led by Smart Zone Startups Studio and backed by angel investors. The funding will play a pivotal role in Edura’s mission to transform education by fostering connections between teachers…
- AltSchool Africa, a Nigerian edtech startup, has expanded its presence to Kenya, marking its second venture into the East African market. This startup, which boasts a network of 60,000 learners across over 100 countries, offers specialized courses designed to expedite the transition into global…
- The Democratic Republic of Congo (DRC), renowned for its abundance of natural resources, is making significant strides in the global tech landscape. This country, rich in ‘green metals’ like cobalt and copper and home to the world’s second-largest tropical rainforest, has recently joined the East…
- With a USD 1.60 trillion market cap, the imminent intensification of Amazon’s operations in South Africa will come to shape the practices and standards that characterise and grow the domestic e-commerce landscape. For consumers and smaller sellers alike, Bezos’ venture into South Africa’s online…
- On Tuesday, a significant announcement was made by the United Nations Development Programme (UNDP), Rwanda, and seven other African nations regarding the initiation of Timbuktoo, a new project designed to inject $1 billion into 1000 African tech startups over the next decade. Known as the largest…
- Shamba Pride, an agtech firm founded in 2016, recently secured a $3.7 million pre-series A funding in a debt-equity mix to enhance its last-mile distribution network for farm inputs in Kenya. This investment round was led by the EDFI AgriFI, an EU agriculture financing initiative, and Seedstars…
- Switch on the TV, and you’ll be hard-pressed to find a sports team not endorsed by an online betting company. The online gambling market in South Africa is set to hit a revenue of USD 828.50m this year, with an estimated 3.6 million users by 2028. As the wave of online gambling sweeps across South…
- The Cairo-based D2C beauty and wellness startup, Mira Cosmetics, is poised to create a significant impact in the market with a recent $200,000 investment from Wingoo Investment and Technology. This financial boost follows the successful production of Mira’s first local beauty product, which is…
- Imaginario AI, a startup based in Tunisia specializing in the AI-assisted processing of video and audio content, has successfully secured $1 million in a pre-seed funding round. This significant financial boost supports the company’s ambitions to expand internationally. The investment round was…
- Ampersand, a pioneering electric transport energy company based in Kigali, recently secured a significant investment of $19.5 million through debt and equity funding. This funding round was spearheaded by the Ecosystem Integrity Fund (EIF) and saw participation from notable investors such as Acumen…
- iSchool, an educational technology startup based in Egypt, recently secured funding of US$4.5 million. This significant investment supports the company’s ambitious plan to broaden its reach across six additional countries within the Middle East and North Africa (MENA) region. VentureWave Capital,…
- General Atlantic, a growth equity firm based in New York with assets under management (AUM) totaling $83 billion, has agreed to acquire Actis, a London-based investor specializing in energy infrastructure focusing on African investments. This acquisition is aimed at enhancing General Atlantic’s…
- Seedstars Africa Ventures has achieved a significant milestone by securing a $30 million capital injection from EIB Global, an entity connected to the European Investment Bank. This marks a pivotal moment as it represents the first substantial institutional investment for the venture firm’s…
- E3 Capital’s Low Carbon Economy Fund has taken a prominent role in the initial funding round for Badili Africa, a re-commerce startup specializing in the refurbishment of digital devices. The investment’s primary goal is to bolster Badili’s mission of addressing Africa’s digital divide sustainably…
- Axian Group, a prominent investment firm, has recently disclosed its strategic investment in Bosta, an innovative Egyptian startup reshaping the delivery processing and logistics landscape in Egypt and Saudi Arabia. Utilizing advanced technology, Bosta’s platform optimizes first, middle, and last-…
- In the ever-evolving landscape of Africa’s business realm, one discovers the essence of innovation, resilience, and an unwavering determination to make a meaningful impact. At the threshold of a new era for African entrepreneurship, we not only applaud the dreams that have taken flight but also…
- Despite the surrounding excitement, blockchain technology holds a myriad of potential benefits for different industries across Africa. While some skeptics may downplay the significance of blockchain or limit its utility to cryptocurrencies alone, the reality is that the technology’s applications…
- Nigeria’s five largest banks, namely First Bank, Access Bank, UBA, Guaranty Trust Bank, and Zenith Bank have each achieved a market capitalization of at least N1 Trillion on the NGX, Nigeria’s stock exchange. These banks are currently benefiting from a strong market performance that resulted in a…
- Ride-hailing drivers in Nigeria are set to demand health insurance packages from e-hailing companies operating in the country following the recent passing of Adebayo Padmore, a driver for LagRide. Among the major ride-hailing companies in Nigeria, only Bolt currently offers health insurance to…
- Capital Film Productions, established by Adim Isiakpona, an ex-Google employee, and Hamza Kassim, who works as a business opportunity manager at Shell, has recently introduced Act 3, a new fund of ₦500 million. This fund is dedicated to investing in a variety of Nollywood films. Both founders have…
- As we enter 2024, Africa’s dynamic tech landscape is poised for rapid evolution across various sectors. From crypto to AI to shifting investment patterns, several key trends emerged in 2023 that will likely accelerate in the new year. After a period of overheated growth and steep market correction…
- Video streaming service Showmax has announced the launch of its majorly revamped platform, Showmax 2.0, coming in February 2024. The updated service promises a wealth of fresh local and international shows for African audiences. This follows MultiChoice Group’s partnership formed last year with…
- Ridesharing platform Bolt has rolled out a new safety feature in Kenya aimed at reducing risky offline trips. The “Driver Asked to Pay Off-the-App” tool lets riders immediately flag situations where drivers request payment outside the official Bolt app. Through the feature, passengers can report…
- In an effort to empower women and protect the planet, IT services provider SmartCIC has launched an impactful e-waste repurposing initiative. The company has partnered with non-profit Maxim Nyansa Foundation to provide underprivileged young women across Africa with hands-on tech education and…
- A recent standoff between two major players in Nigeria’s telecommunications industry has sparked questions around the sector’s financial agreements and stability. Globacom, the country’s second largest mobile network, faces partial disconnection from certain services of rival operator MTN Nigeria…
- Twitter has long been the hub for trending conversations in Nigeria, from serious social issues to mundane marital roles. But it’s rare for the latter to spawn a massive brand marketing outlet. Yet that’s exactly what happened in the past week with Deborah Olaki, known as Mumzee. On January 4,…
- In a landmark 100% acquisition, the Kuwaiti education technology firm Baims, founded by Bader Al-Rasheed and Yousef Alhusaini in 2017, has successfully acquired the Egyptian EdTech company Orcas. Baims, renowned for its online pre-recorded courses for university and high school students in…
- weVenture, an Ethiopian venture capital-backed incubator, has recently commenced its operations. Established through a collaborative effort of local industry experts, investors, and seasoned professionals, this hub focuses on discovering, cultivating, and expanding early-stage startups in Ethiopia…
- Mastercard has teamed up with Illicocash, a fintech division of Rawbank, to initiate a virtual card program in the Democratic Republic of the Congo (DRC). This collaboration aims to provide an innovative and easy way for consumers and businesses to conduct eCommerce transactions. This development…
- Cleva, a Nigerian fintech startup, recently secured $1.5 million in a pre-seed investment round to enhance international payment solutions throughout Africa. The funding round was spearheaded by 1984 Venture, a venture capital firm based in San Francisco that specializes in supporting early-stage…
- Oludayo Ojerinde, a specialist in artificial intelligence from Nigeria, recently launched a new health-focused chatbot in Lagos. This innovative chatbot is set to transform how healthcare is accessed and cater to the healthcare needs in Nigeria. This recent unveiling aims to address significant…
- In 2023, Africa faced a significant financial challenge, with three currencies ranking among the five poorest performers globally. The continent’s weakest currencies were the Nigerian naira, Angola’s kwanza, and Malawi’s kwacha. Notably, the Nigerian naira experienced a steep decline, only…
- Octavia Carbon has recently obtained funding to enhance its Direct Air Capture (DAC) technology. This technology primarily focuses on removing carbon dioxide (CO2) from the air. The firm is dedicated to fighting climate change by developing, constructing, and implementing machines specifically…
- The United Nations has issued a grave forecast, indicating that the hunger crisis in Africa is set to intensify dramatically next year, with an estimated 50 million Africans likely to face hunger. This alarming situation will bring the total number of hungry individuals on the continent to over 300…
- Former CNN correspondent Zain Verjee and Grammy award-winning director Matthew Miguel Cullen have teamed up to transform the narrative on climate change’s impact in Africa with their pioneering artificial intelligence (AI) film, Ndoto. This film aims to showcase the stark realities of climate…
- Starlink, a subsidiary of SpaceX, has recently inaugurated its first service in Africa in Nigeria and is now setting up its inaugural physical office in Kenya. The company specializes in satellite internet and has announced a job opening for a Global Licensing Activation Manager in Sub-Saharan…
- Koree, a fintech company from Cameroon, recently secured a pre-seed investment of $200,000. This funding will be allocated to expanding its merchant network, increasing its customer base, and striving for product-market fit, as stated by Magalie Gauze-Sanga, the founder of Koree. The investment was…
- In the past year, African tech startups faced considerable challenges. Securing venture capital proved to be a daunting task, aligning with earlier predictions. Bridge and down rounds became increasingly common, while reports of fire sales, staff layoffs, and startup closures spread throughout the…
- The Emerging Africa Infrastructure Fund (EAIF), a subsidiary of the Private Infrastructure Development Group (PIDG), has pledged a senior secured loan facility worth $30 million to AXIAN Energy. This financial commitment is integral to AXIAN Energy’s growth strategy, which aims to establish more…
- The global re-commerce sector is on the brink of expansion, with more consumers opting for secondhand products to save money and support sustainable consumption. As the worldwide re-commerce market continues to grow, platforms like Soum from Saudi Arabia aim to attract users across the Middle East…
- Zerodip ng introduces a revolutionary approach to helping Nigerians discover their ideal property, whether it’s for purchase, rental, short-term leasing, or joint ventures. This innovative platform is ushering in a new era for the real estate sector in Nigeria, bringing fresh air to the industry.…