- The National Bank of Rwanda (NBR) has told all of the country’s banks to stop doing anything with cryptocurrencies until a regulatory framework is established. Soraya Hakuziyaremye, the acting governor of the NBR, wrote a letter to managing directors and CEOs of financial institutions to defend the…
- TechInAfrica – MSI, a world leader in gaming hardware and innovative business solutions in over 120 countries, is expanding on its success in Egypt by partnering with Egypt’s fintech leader ‘Fawry’ to facilitate payment for businesses and consumers. Besides their super-performing gaming laptops,…
- Dash, a fintech company in Africa that offers a unified payments system for mobile money and traditional bank accounts, has suspended its founder and CEO, Prince Boakye Boampong, pending an investigation into possible financial wrongdoing, TechCrunch reports, citing sources familiar with the…
- LAfrica’s biggest innovation hub, Co-Creation Hub (CcHUB), has started “The Edtech Fellowship Program,” a $15 million accelerator program. A statement from the company says that it will back and help 72 startups in Nigeria and Kenya for the next three years. The program’s goal is to increase the…
- Blockfinex, a cryptocurrency exchange based in Barbados and Seychelles, has bought a 100% stake in the Nigerian cryptocurrency payment gateway startup Fluidcoins. The deal is said to be Nigeria’s first acquisition of 2023 and the country’s first in the crypto ecosystem. The founding team of…
- In a seed funding round, the Kenyan construction tech startup Jumba raised $4.5 million to grow its one-stop marketplace for buying building materials. The B2B platform makes the supply chain easier by letting stores that sell building materials restock and letting real estate developers get the…
- 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…
- TechInAfrica – Fawry, the leading company in the field of banking technology and electronic payments, celebrated the signing of a cooperation agreement with My Fatoorah, the leading provider of online payment services in the GCC region, in order to provide FawryPay reference code service for My…
- Paula Ingabire, the minister of ICT and innovation, says that because of the money from the World Bank and China’s Exim Bank, nearly 3,000 schools without internet will have it by 2024.Ingabire told the Chamber of Deputies about this information last week when he answered questions about the ICT…
- In partnership with Intercap Capital Investment Bank, a group of angel investors from the United Arab Emirates and Qatar gave Mobile Masr a seed round of $500,000. The startup plans to use the money to grow its operations and move into new business categories and verticals. Wael El Ashry opened…
- Nigerian mobility startup Treepz (formerly Plentywaka) began business in Kenya after getting $1.2 million in strategic investments over the last year. It debuted in Uganda and Ghana just over a year ago. Now, it will do business in another country in East Africa. Treepz is currently in Nigeria,…
- MTN Group, Africa’s biggest mobile phone company, says it will invest $1 billion in Ghana over the next five years.The move comes after the Ghana Revenue Authority said the company’s Ghanaian unit didn’t have to pay $773 million in taxes because it only reported some of its income between 2014 and…
- EziPay, a digital wallet and intra-African cross-border remittance company has teamed up with MFS Africa, the leading digital payments gateway on the continent. The agreement, which comes at a time when mobile money is booming on the continent, with businesses and individuals seeking solutions for…
- Smile Identity, a Nairobi-based identity verification company, has raised $20 million in a Series B fundraising round headed by Norrsken22 and Costanoa Ventures. Smile Identity specializes in identity verification and KYC compliance and employs a portfolio of tools to assist clients in avoiding…
- As part of its Coding for Employment program, the African Development Bank opened a second Information and Communications Technology Center of Excellence at the United States International University-Africa in Nairobi. Its goal is to help African youth become more competitive in the local and…
- Power, a Kenyan fintech company, got $3 million in seed funding from a round led by DOB Equity. It plans to grow its services in Kenya and enter Zambia. Power was started in 2020 by Brian Dempsey and Chandra Singh. It gives partner employees access to financial tools like short-term and long-term…
- Algeria says that hackers attacked the official Algerian News Agency website from Morocco and the Zionist regime. Its state television says hackers tried to hack into the website for hours by launching a series of serious cyberattacks.A reliable source said the attacks were planned in Israel,…
- According to Africa: The Big Deal, nearly 1,500 investors have done at least one deal in Africa in the past couple of years. This does not include angel investors. However, some investors have helped the African startup ecosystem grow in a very different way over the past two years (2021–2022).…
- In a series B funding round, Naked, a South African insurtech startup that offers fully digital, AI-powered insurance for homes, cars, and valuables, has raised $17 million. The goal of Naked is to make insurance more accessible, easy, and straightforward by using AI, digital experiences, and its…
- TechInAfrica – Orange Egypt has signed a partnership agreement with Fawry, the leading provider of e-payments and digital finance solutions in Egypt, to enhance digital payment services and expand the features of Orange Cash wallet. The collaboration strengthens Orange Cash’s position as Egypt’s…
- Kenyan B2B2C full-stack marketplace for public transportation BuuPass wants to grow its market share in East Africa, especially in Kenya and Uganda. Sonia Kabra and Wycliffe Omondi started the business seven years ago. They met in 2013 at Earlham College in Richmond, Indiana. They have just…
- The International Data Corporation (IDC) says that Africa’s smartphone market will be 18% smaller in 2022 than in 2021. Egypt and Tunisia had the biggest year-over-year drops, at 63% and 33%, respectively. This significant drop was caused by people spending less money because of inflation and…
- Terraa, a Moroccan B2B food distribution platform that uses technology, has raised $1.5 million in pre-seed funding. FoodLabs, an early-stage European VC investor and venture studio for food, sustainability, and health, led the round. In Morocco, the fresh food market is still fragmented and…
- SC Ventures, Standard Chartered’s innovation, fintech investment, and ventures arm, has signed a Memorandum of Understanding (MOU) with Yabx. This Netherlands-based fintech aims to make it easier for MSMe in emerging markets to access financial services and ensure that everyone in Africa has access…
- Curacel, a Nigerian insurtech platform, has raised $3 million in seed capital to extend its insurance technology offering in emerging markets. The platform intends to enhance insurance penetration through APIs and connect insurers with digital distribution channels. Curacel’s services help…
- Qotto, a Burkina Faso and Benin-based solar kit provider, has secured $8 million in a Series A equity-debt transaction sponsored by the IBL Group, a billion-dollar Mauritius-based conglomerate. Qotto, founded in 2016, uses a pay-to-own approach to supply stand-alone solar kits and lamps to persons…
- Do you have a new idea that helps farmers and other people involved in agriculture in low- and middle-income countries build the skills they need to deal with climate change? The Agricultural Innovation for Climate Resilience Program (AICR), which is a partnership between the World Food Programme…
- Fastagger Inc, a Kenya-based AI and blockchain business, recently announced an undisclosed investment from global blockchain investor CV VC. Fastagger plans to extend its “cutting-edge technology skills” in AI and blockchain, according to Mutembei Kariuki, the startup’s CEO. In a Kenyan Wallstreet…
- Would you like to know more about data science? This is your chance to learn Python online and then use what you’ve learned to win $5,000. You could use the money to pay for more schooling, buy equipment and software, or fund educational projects. The applications for the DataCamp Everyone Can…
- Jendaya, an e-commerce startup that has been operational for a year, has raised £1 million ($1.2 million) in pre-seed capital and began with the goal of consolidating cross-border commerce between African and worldwide luxury companies. The platform connects luxury brands from Africa and the…
- When I get rich, I’ll buy a house.” This rationale exists in most Africans’ minds, the majority of whom have associated property investing with having a lot of cash lying about. It’s hard to blame them, though. Mortgages don’t work well in this part of the world, and owning or investing in real…
- The COVID-19 pandemic has changed how companies find and hire top talent in a big way. Traditional ways of looking for candidates through applicant tracking systems (ATS) are no longer enough to keep up with the shift toward remote work. This is where PeakU comes in. Santiago González and Juan…
- PressOne Africa, a firm that creates business phone systems for entrepreneurs, has raised $600,000 in a pre-seed round led by Ventures Platform, with participation from Voltron Capital and a slew of excellent angel investors. Mayowa Okegbenle and Opeyemi Shokunbi started PressOne. It lets business…
- Bamboo Systems Technology Limited (“Bamboo”), an online broker in Africa, said that the Nigerian Securities & Exchange Commission had given it a digital sub-broker license (SEC). The firm can now sell Nigerian securities on its platform and work in the Nigerian capital market. By giving Bamboo…
- GlossAi, which made an AI-driven video generator that lets organizations quickly create content for multiple audiences at scale using generative AI, has announced that its $8 million seed round was successful. The funding round was led by New Era Capital Partners and included contributions from…
- The global venture capital firm Partech, which manages several funds, said that the first closing of Partech Africa II had raised 245 million euros, making it the largest and most successful Africa-focused fund to date. Tidjane Deme and Cyril Collon, the firm’s managing partners, say they want to…
- Yodawy, a digital healthcare firm, has raised $16 million in a Series B round headed by Delivery Hero Ventures and Global Ventures, based in the United Arab Emirates. Yodawy is a leading pharmacy benefits management platform started in 2018 by Karim Khashaba, Yasser AbdelGawad, and Sherief El-Feky…
- Ten South African startups have been chosen for the three-year GrindstoneX accelerator program, which aims to give women entrepreneurs more power and create jobs. Grindstone was started in 2014 and is owned by Knife Capital and Thinkroom. It helps companies with fast growth and a focus on…
- Sendmarc, a security company based in Johannesburg, has raised $7 million in Series A funding led by Atlantica Ventures and other venture capital firms. Sam Hutchinson, Keith Thompson, and Sacha Matulovich started the company in 2020. Their goal was to help former clients deal with problems like…
- FlySafair, a low-cost airline in South Africa, is the first company to use Chat 2 Pay, an innovative e-commerce solution that lets customers pay easily with their phones through WhatsApp. Clickatell, a global leader in chat commerce and mobile messaging, says that its Chat 2 Pay feature is now live…
- Customer relationship management (CRM) solutions have become more popular over the past few years. The industry is expected to grow at 12.5% per year for the next six years and reach $145.79 billion. This growth is partly because more and more online stores are using CRM solutions to boost sales,…
- Vantage Capital, Africa’s largest manager of mezzanine funds, said that its fourth mezzanine fund has closed. Investors from the US and Europe, as well as several development finance institutions (DFIs) like IFC, BII, SIFEM, DEG, Norfund, Swedfund, Finnfund, and EIB, have pledged a total of $377…
- The 2Africa fiber optic cable, the biggest in the world, is now in Amanzimtoti, south of Durban.The 45,000 km cable, which is still being built, will run along the seafloors of the Mediterranean, Red, and Indian seas, as well as the Atlantic and Indian oceans. The historic project, which was…
- Ethio Telecom has launched a new program to assist local businesses in developing forward-thinking business models in digital banking and technology. The telecom says that the Ethiotel innovation program was made to help businesses with new ideas overcome some of the problems they face when trying…
- The Vertiv MegaMod and Vertiv MegaMod Plus are turnkey prefabricated modular (PFM) data center solutions that may be deployed in expandable modules of 0.5 or 1 megawatts for IT loads up to 2 megawatts or more. Vertiv is a global provider of essential digital infrastructure and continuity solutions…
- These three companies, ThriveAgric of Nigeria, DigicCow of Kenya, and Brastorne Enterprises of Botswana, will each get a grant of US$1.5 million and access to professional advisors. Heifer International runs the AYuTe Africa Challenge, which helps agri-tech innovators on the continent. This is part…
- Dr Adesina talked about his five top priorities when he first took over the Bank. Feed Africa was one of them. “Since then, more than 250 million people across the continent have benefited from the bank’s investments, projects, and programs, which are mostly driven by technology,” he said. Adesina…
- Grey, a startup that enables African freelancers and digital nomads access to foreign accounts, has renewed its commitment to offering cutting-edge and safe global banking products to the African market. As the digital economy continues to grow on our continent, Grey is at the forefront of…
- Nigerian clean tech company SunFI has announced a $2.325 million first round. Rotimi Thomas, the company’s CEO, said that the investment would help SunFi expand its business and improve its ability to offer customers the best systems at the lowest prices. Factor[e]in Nairobi and SCM Capital Asset…
- Trade Lenda, a Nigerian fintech firm that provides access to financing for the business needs of micro, small, and informal retailers, has obtained US$520,000 in pre-seed capital to speed its expansion. Trade Lenda was founded in 2016 The funding came from several different sources, including…
