- According to a statement made available to Techloy, Opportunik, a private wealth fund that intends to allow Africans and Diasporans access to global assets, will launch a regulated fund next month. Accuvise Administrators Limited, a registered fund administrator based in Mauritius, will run the…
- To tackle the issue concerning the climate in Ghana, Solar Taxi, an e-mobility company, launched a new Solar Taxi application that makes provision for affordable transportation to citizens. Regarding the rise in fuel prices and the shoot-up in the transportation system, the firm has used the…
- Several controversies about Africa being neglected from the AI conversation have gotten the eye of the public and have ever since been an online debate. OpenAI ChatGPT, a notable Microsoft backed-up name that has brought artificial intelligence (AI) to its peak since its launch in late 2022 and…
- MasterCard has decided to withdraw its first-use PVC plastic gradually from its payment network by replacing it with cards made from recycled plastics by 2028. Mastercard placed limitations on the use of first-use PVC cards since it formed the Greener Payments Partnership with card manufacturers…
- South Africa emerges as the leading African country using 5G networks, since Rain, a data-only network provider, paved the way for its usage in the country. The successful usage of 5G in South Africa has encouraged other African countries to follow suit. TeleGeography reports which tracked the…
- Elon Musk’s filings in court exposed that Twitter Inc. has been dissolved. The filing also shows that the microblogging service has been aligned with a newly formed shell company called X Corp, which is a part of X Holding company owned by Elon Musk. The billionaire entrepreneur has long visualized…
- To boost people’s reliability on OpenAI and ensure proper security of the AI system, OpenAI has partnered with Bugcrowd to offer a bug bounty program to address cybersecurity risks. With this new dynamism in the AI, users who report bugs can earn rewards ranging from $200 to $20,000. Matthew Knight…
- LinkedIn has deployed a more contemporary method of verification to its users. Being a global professional platform, it has introduced three different ways to verify the authenticity of a person’s identity and place of work. The new techniques soared because users could identify legit LinkedIn…
- Telkom’s FutureMakers program works with Aions Creative Technology’s business builder service to help South African start-ups. After a competitive pitching process, Telkom FutureMakers gave R58 million (about $3.8 million) to Aions. This shows that the program is committed to helping small, medium…
- YuLife, a tech-driven financial services company based in London, has brought its group risk protection product, group life insurance, to South Africa. This is its flagship product. YuLife’s unique approach to insurance includes a wellness app that uses game mechanics to encourage workers to make…
- The company said that the mobile commerce platform Copia, which is based in Kenya, has stopped operations in Uganda and put growth plans on hold in Africa. This is because of a slowing economy and tight capital markets. Copia will instead focus on making its Kenyan business profitable. According to…
- Chargel, a Senegalese logistics tech firm, has raised $2.5 million in initial capital led by Logos Ventures, with participation from Ventures Platform, Foundation Botnar, DFS Labs, and Seedstars, as well as $500,000 in debt financing. The site connects shippers and transporters online, making a…
- AfriBlocks is a pan-African marketplace for independent talent. It has teamed up with KyckGlobal to offer freelancers in Kenya, Zambia, Ghana, and Namibia the Visa push-to-card payment method. The move is meant to help African freelancers deal with the lack of financial infrastructure and high…
- Orange Corners has announced launching a new subsidy plan to ensure a sustainable future for its entrepreneurial training courses for the next five years. The program will fund a local entrepreneurial training program (incubators/accelerators) and related activities for young people aged 18-35,…
- TerraPay is a British fintech company that focuses on payment infrastructure. Recently, the International Finance Corporation (IFC) helped the company raise $100 million. After this success, the IFC has said it will give a $30 million loan to TerraPay’s Mauritian branch to help with its working…
- With the help of the International Energy Agency, the ministers of the G7 group have come up with a Five-Point Action Plan for Critical Minerals Security. It includes a look at demand and supply in the medium and long term, more recycling and sharing of skills, new ways of sharing resources and…
- Autochek, a pan-African automotive technology company, has bought most of AutoTager, an Egyptian automotive technology start-up that makes it easier for Egyptians to buy and sell cars. Autochek is now in the North African country with the second-largest economy and the second-largest car market in…
- Digital identity is one of the most important tools for financial equality and economic growth. It can help verify people’s identities, making it easier to use banking services, government benefits, and other digital services without going to a physical place. Africa has gained a lot from digital…
- Camel Ventures, an Egyptian venture capital company, has started a fund with EGP 500 million ($16 million) to help the country’s fintech startup ecosystem.Camel Ventures for Investment I (CVI) was created to fund Egypt’s growing community of financial technology startups. Camel Ventures is backed…
- Following the success of its local content production efforts in the region, Netflix, the global streaming behemoth, has announced plans to expand its operations in Africa. Since 2016, the company has put €160 million into making movies in Africa. This has created more than 12,000 jobs in Nigeria,…
- The South African IT giant Reunert Group’s solutions and systems provider, +OneX, said it would buy MMC, a cybersecurity and managed services company. The deal did not say how much it would cost. With the purchase of MMC, +OneX can offer its cloud and digital transformation clients Compliance as a…
- Chekkit, a Nigerian startup, has raised extra funds to help scale its blockchain-powered medicine safety and tracking service. Chekkit, a platform that tracks product movement and the parties engaged in transporting products from the warehouse to the distributor and then to the final consumer, was…
- Block, the company behind Cash App and Square, has teamed up with Yellow Card, one of the biggest Bitcoin exchanges in Africa, to allow payments between 16 African countries, including Nigeria, Ghana, and South Africa. The World Bank says that sending money from one country to another costs the…
- It is well known that mobile money works well in Africa. If you’ve been paying attention to the continent’s financial and tech sectors over the past ten years, you probably won’t be surprised to hear that it makes up about 70% of the US$1 trillion worth of mobile money worldwide. You might also not…
- The Amilcar Cabral submarine line will change the way people in six West African countries talk to each other. This high-speed infrastructure, named after Amilcar Lopes da Costa Cabral, a hero of the independence of Guinea-Bissau and Cape Verde, was first meant to join only Guinea and Cape Verde. …
- The Internet of Things (IoT) could change how we live, work, and connect with the world around us. IoT technologies promise to change how we see and interact with the world around us, from smart homes that can predict our needs and adapt to our preferences to smart cities that can make the best use…
- TechInAfrica – XPay, a company regulated and fully licensed by the Central Bank of Egypt, has signed a cooperation protocol with “Fawry”, the leading company in the field of digital transformation for electronic payments, to provide the ‘FawryPay Reference code’ and Cash out services to ‘XPay’…
- Lazerpay, a crypto payment company based in Nigeria, has said it is closing down because it can’t get any more money. After laying off people in November 2022, the new business had trouble for a while. Lazerpay, founded in 2021, created an API that allowed developers to incorporate crypto payments…
- About 250 eager business owners from all over Uganda went to a tough boot camp to learn how to grow their companies. The Youth Startup Academy Uganda is in charge of the boot camps. They are part of a project called an incubator that tries to help 1,000 entrepreneurs under the age of 35. The […]…
- ETAP Takaful, a new ethical insurance solution from Nigerian insurtech startup ETAP, accords with the religious values of Muslim subscribers. The product is built on ETAP’s current technology, which has one of the fastest claims processes on the market. It takes 90 seconds to buy the insurance and…
- Since OpenAI released ChatGPT, everyone has been trying to build the best AI system quickly. Big computer companies in the U.S. are trying to make their systems, and Chinese companies aren’t about to let them steal the show. Alibaba Group just entered the race for the top spot with “Tongyi Qianwen…
- The government of Uganda is going to invest $215 million to buy the majority of Umeme’s shares. When Umeme’s 20-year deal ends in 2025, the government will fully control the power distribution system. This will end a long-standing arrangement between the private sector and the government. The…
- Can you start a new company or NGO that uses a proven way to help people out of poverty on a big scale? Send in your idea for a new group to help solve one of the Distribution Challenges. The world has already developed products and services to help end poverty. Still, they found that […] More
The…
- FarmTrace, a cloud-based agritech solution that has secured a sizable investment from Secha Capital and Hassium Capital, has made cutting-edge farm management technologies available to farmers in South Africa. FarmTrace is the only cloud-based farm management tool of its kind in the country. It…
- Hong Kong is making it easy for African tech startups that want to move there to do so. Setting up your offices in Hong Kong has never been easier than with the help of InvestHK, the part of the Hong Kong Special Administrative Region (HKSAR) government in charge of foreign direct investment. HKSAR…
- Aquaculture company Victory Farms, based in Kenya, has raised $35 million in a Series B funding round. Creadev led the round, and Acumen Resilient Agriculture Fund, DOB Equity, and Hesabu Capital were among the other investors. Victory Farms has over 80 locations in East Africa and specializes in…
- International Data Corporation (IDC) says that the Middle East and Africa (MEA), which includes Israel, will spend $3 billion on artificial intelligence (AI) in 2023. Even though this is only 2% of the global total, spending on AI is expected to grow the fastest in MEA, where spending is expected…
- VC4A is excited to announce the call for applications for the VC4A Venture Showcase Africa – 2023, a yearly accelerator program highlighting high-growth, high-impact ventures driving economic growth across the continent. The Showcase gives African founders of innovative and disruptive startups and…
- During her recent trip to Zambia, US Vice President Kamala Harris noticed a Zambian fintech company called Lupiya. Lupiya has been a big part of helping small farmers in Zambia get loans to invest in farming methods and tools that can withstand the effects of climate change. Vice President Harris…
- The government of Uganda is working to find cleaner solutions to its air pollution issues, resulting in a collaboration with Spiro, a firm that specializes in vehicle and smart battery design. Uganda’s government and Spiro together will set up an electric motor assembly plant in Uganda’s capital,…
- The fast-paced digitalization has caused heightened demand for internet data. Unfortunately, because of the high cost of living, some people cannot acquire data at a cost-effective rate. To mitigate this problem, K’nect Mobile, a part of the Shoprite Groups’ cellular network, has decreased its data…
- OpenAI releases another update just a few days after releasing the GPT-4 AI model. This update was triggered by the increasing demands of users who wanted the AI model to perform everyday tasks. From booking flights and accommodation to assisting with online shopping, restaurant recommendations,…
- The Zambian government has teamed up with Liquid Intelligent Technologies to speed up digital transformation across the country by launching a new data center in Zambia. Both parties signed a Memorandum of Understanding (MOU) to this effect. This is a welcome step as the data center will also…
- 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…
