- Shell has bought Daystar Power, a hybrid solar power company in West Africa. The acquisition, which the government approved, will help Daystar Power grow its business in the area and across Africa. With this purchase, Daystar hopes to increase its installed solar capacity to 400MW by 2025 and…
- The 45,00km 2Africa cable, which Facebook (now Meta) said would be built by 2020 and connect 23 countries in Africa, the Middle East, and Europe, has finally reached South Africa. It is one of the biggest subsea cables in the world and will connect 23 countries in Africa, the Middle East, and…
- Nama Ventures has given Pre-SEED funding to Muqbis, a market in Egypt. Marquis, which Iman El Wasifi, Mohamed Nasser, and Kareem Hussein started in 2021, is a full-fledged marketplace for the Handicrafts industry. This year has been great for Egypt’s ecosystem, which has raised more than $500…
- Vodacom Group, the largest technology company in Africa, has finished buying a 55% stake in Vodafone Egypt.The $2.738 billion transaction was announced in November and has now overcome all regulatory and procedural hurdles. Vodafone’s stake in Vodacom climbed from 60.5% to 65.1% due to the…
- Aruwa Capital led a $2.5 million fundraising round for Taeillo, a Nigerian-based online furniture eCommerce firm.Taeillo is an online furniture store that Jumoke Dada started in 2018 as a custom furniture designer for B2B clients. However, the COVID-19 pandemic in 2020 allowed the company to expand…
- One of the five winners of the second annual Earthshot Prize for 2022 is Mukuru Clean Stoves, which is based in Kenya. After a nine-month hunt for the most creative and inspiring solutions to the world’s most pressing environmental problems, each of the five winners will get £1 million. From all…
- Ventures Platform, a pan-African venture capital firm that supports the next generation of African tech entrepreneurs, has closed its early-stage and global fund at $46 million. This is more than the original $40 million goal and brings new investors worldwide. This includes top-tier commercial…
- Developers and tech experts from all over Sub-Saharan Africa can now apply to the Lesotho Public Financial Management hackathon to win the $10,000 grand prize. With help from the Bill and Melinda Gates Foundation, the hackathon will take place in Maseru, Lesotho, from January 24 to January 26, 2023…
- According to a business release, ayoba, a messaging app partially owned by South African telecom giant MTN, had surpassed 20 million monthly active users in December 2022, indicating a 100% increase over the same period last year when it reached 10 million monthly active users. Simfy Africa Pty Ltd…
- Equinix, a data center corporation based in the United States, has announced a $160 million investment to build its first data center in South Africa as part of its African expansion strategy, following its $320 million acquisition of Nigeria’s MainOne in December 2021. A report by Arizton says…
- Zipline has announced that it will work more closely with the Rwandan government to speed up the delivery of medical supplies to the country. Through the partnership, government agencies like the Ministry of Agriculture and Animal Resources, the Ministry of Information and Communication Technology…
- TechCabal says that NALA, a Tanzanian fintech company, has expanded into the European market. This means that NALA can now operate in 19 European countries and allow remittances from those countries to African countries. This extension follows numerous additional enhancements to NALA’s product,…
- Sun King, a pan-African producer of solar energy, has acquired a $70 million equity investment from LeapFrog Investments. Sun King sells off-grid solar energy products in Africa and Asia. These give homes and communities access to affordable and reliable solar technology that can generate…
- ShEquity, an investment company, focused on women, gave funds to the Nigerian fintech startup Owoafara. Owoafara offers digital banking to help people who don’t have bank accounts get access to financial product sand services. Tale Alimi started Owoafara, which lets users access a wide range of…
- Gridless, a bitcoin mining firm that provides new energy generation to distant areas of East Africa has won a $2 million seed investment.Stillmark & Block, Inc. led the round, and Factor[e], which also competed in the pre-seed round, participated. Gridless CEO Erik Hersman declared, “Africa…
- Lagos-based real estate investment company Purple, has announced that its Initial Public Offer (IPO) is now open (IPO).With the help of well-known investors, Purple has grown a lot, and its total assets will be worth more than 26.4 billion in FY2021. The money from the IPO will grow Purple’s…
- Aruwa Capital Management (“Aruwa”), a free African early-stage growth equity and gender lens fund, has invested $2.5 million in Taeillo, a female-founded furniture manufacturing company. Jumoke Dada established the online furniture manufacturer and retailer Taeillo in 2018. Initially a B2B company…
- The diligent implementation of various telecommunications policies, strategies, and regulatory frameworks, according to Prof. Umar Danbatta, Executive Vice Chairman of the Nigerian Communications Commission (NCC), has continued to improve the country’s capacity to expand citizens’ access to digital…
- To scale its all-in-one technology platform that manages collections, service charge administration, utilities vending, visitor access, and other services associated with multi-unit property developments throughout Africa, VENCO, a technology company that offers solutions to improve living…
- A subsidiary of the Private Infrastructure Development Group (PIDG) called InfraCo Africa has pledged US$2 million to Mobility for Africa, a company that offers underserved communities in rural Zimbabwe cargo-carrying e-tricycles and solar-powered battery charging systems. Director and CEO of…
- Microsoft has announced the launch of a global skilling program in Kenya with the goal of increasing access to fundamental and digital skills. The Skills for Jobs Learning Pathways initiative has been introduced locally as a step toward the success of Microsoft’s Global Skills Initiative, which was…
- The success of fintech companies is being fueled by a number of trends, including increasing smartphone ownership, declining internet costs, expanded network coverage, and a young, fast-growing, and rapidly urbanizing population. African fintech is the fastest-growing start-up industry in Africa,…
- To lessen the financial burden of food shopping for Kenyan consumers, Kapu, a social commerce start-up, has obtained $8 million in startup funding. The seed round, which also included Founder Collective, Base Capital, Norrsken, and Raven One, was jointly led by Giant Ventures and First minute…
- Following a seed fundraising round from GIIG Africa Fund, a “profit and purpose” fund, clean Tech startup ScarabTech has several commercial initiatives planned for Africa, Asia, and Australia. After receiving initial funding from a number of angel investors, the company has now completed its first…
- The National Blood Service Commission (NBSC) has stated that the Nigerian Communications Commission (NCC) is willing and prepared to provide any assistance needed by the NBSC in order for it to carry out its mandate of regulating, coordinating, and ensuring “the provision of safe, quality blood and…
- For Moove, which is constructing the largest EV ride-hailing fleet in the MENA area beginning with the UAE, the financing represents a significant accomplishment. In order to fund the construction of the largest EV ride-hailing fleet in the MENA area, Moove, the first mobility fintech in the world…
- Cybercriminals are getting ready for a new year of security twists and turns. It’s always distressing to review the year’s cybercrime figures. Due to the drastic changes in working conditions, strategies, and investments in 2021 and 2020, the landscape was rife with new vulnerabilities and new…
- With a $200 million pledge, the Mastercard Foundation has established the Africa Growth Fund to assist the continent’s early-stage, growth-oriented SMEs. The Fund-of-Funds seeks to further the Mastercard Foundation’s Young Africa Works initiative, which aims to provide access to dignified and…
- The efforts Meta is taking to ensure the integrity of the Nigerian elections in 2023 were disclosed by Meta today.This includes its initiatives to stop the dissemination of false information and increase the transparency of political advertising. This work, which will continue before, during, and…
- The Invisible Challenge on the short-form video hosting platform TikTok can expose devices to information-stealing malware, according to the Nigerian Communications Commission’s Computer Security Incident Response Team (NCC-CSIRT). According to an NCC-CSIRT advisory, threat actors have used the…
- An Egyptian firm, SIDEUP, which provides e-commerce solutions tobsmall businesses, has raised $1.2 million to expand in Egypt, start new operations in Saudi Arabia, and create a new line of items for clients. The startup, once known as VOO, claims its goal is to make the e-commerce process for…
- OneWeb and Pan-African telecom provider Paratus Group have teamed up to offer low Earth orbit (LEO) connection services to 37 African nations. In particular, it will target isolated and rural locations where Paratus consumers are most in need of satellite communications services. The deal expands…
- 100 business leaders in Nigeria were questioned as part of the Equinix 2022 Global Tech Trends Survey about the opportunities and difficulties that their companies are currently facing as well as their future goals. Significant highlights include: Additionally, according to data from a Nigerian…
- In order to develop its product and enter new African markets, Zeraki, a Kenyan Edtech business that runs a platform for digital learning and school data analytics, has raised $1.8 million in seed funding. In 2014, Nyangolo and Erick Oude co-founded Zeraki, which at first provided high school…
- In a seed extension investment round led by Allan Gray E-Squared Ventures and UW Ventures, Martin Naude, founder and CEO of local data automation and integration firm Synatic, secured an extra $2.5 million (+- R42 million). In order to prepare for Series A fundraising in 2023, the company will…
- The Computer Security Incident Response Team (NCC-CSIRT) of the Nigerian Communications Commission (NCC) has issued a warning that a recent Phishing attack known as Attacks Exploit Windows Zero-Day Vulnerability can install the malicious QBot malware on a compromised device without causing any…
- The Lego Foundation’s global Build a World of Play Challenge selected Ubongo, Africa’s top producer and creator of children’s educational media, as one of five recipients to receive funding for audacious, meaningful early childhood solutions. A total of DKK 900 million (about US$ 117 million) will…
- Early-stage growth equity fund Aruwa Capital, which was created by a woman, has announced the successful close of its first institutional fund, which surpassed its $20 million target. Adesuwa Okunbo Rhodes, the company’s founder, is now the youngest solo general partner (GP) to successfully raise…
- Imagine a world where shopping was like playing your favorite video game. Immersive and fun, it puts you in a beautiful, interactive world where you can try on clothes, find out about new products, and get a feel for what you’re buying before you buy it. You wouldn’t have to deal with pushy…
- Kenya’s first fully electric taxi service, NopeaRide, has announced that it will close because its parent company, EkoRent Oy, can’t get enough money to keep the business going. According to the company, the local branch of the Finnish company, EkoRent Africa, has filed for bankruptcy in Kenya.…
- Solarise Africa, an energy leasing company, based in Kenya, has raised $33.4 million in debt financing to grow its business in Kenya and other parts of Africa. Patrik Huber, Jan Albert Valk, and Sakkie van Wijk 2017 started the company. It helps businesses in Africa get reliable and affordable…
- Ejara is a Cameroonian fintech company that makes an investment app that lets users buy crypto and save money in decentralized wallets. Ejara has raised $8 million in Series A funding to grow its platform. Nelly Chatue-Diop and Baptiste Andrieux founded Ejara in 2020. The business provides…
- Badili Africa, a buyback marketplace for old phones based in Kenya, has acquired $2.1 million in pre-seed capital to expand its operations in Africa, one of the world’s fastest-growing mobile phone markets. Rishabh Lawania and Keshu Dubey started Badili in March 2022. They buy used phones and sell…
- 4Di Capital, a South African early-stage venture capital firm, has announced the second closing of its new $25 million seed fund, which was made in partnership with DotExe Ventures in Mauritius. This announcement comes on the heels of the SA SME Fund’s initial closing of $8 million, with money…
- Amre Moussa, who was the secretary-general of the Arab League and is now the organization’s honorary president, confirmed that the Egyptian-Chinese Entrepreneurs Association (ECEA) would work to increase investments in the AI and tech industries in Egypt. The ECEA was launched at a ceremony in the…
- Uncover Skincare, a Kenyan company that makes beauty and skin care products for African women, has raised $1 million in seed funding to grow its operations in Kenya and open a branch in Nigeria. Uncover Skincare, co-founded in 2020 by Sneha Mehta, Jade Oyateru, and Catherine Lee aims to change the…
- VMware, a software company, said its VMware Cloud on AWS service is now available in the AWS Africa (Cape Town) Region. Amazon Web Services (AWS) and VMware worked together to make VMware Cloud on AWS an integrated cloud service. It lets users move and expand their VMware vSphere-based…
- Shoprite, a South African retail chain, has added a heavy-duty electric truck to its fleet of delivery vehicles. The car is a Scania Battery Electric Vehicle (BEV), which is entirely electric and doesn’t use fossil fuels or put out any carbon dioxide. The truck has nine batteries, solar panels on…
- Moroccan retail technology startup First Circle Capital has provided WafR with a $120,000 fundraising round. WafR enables marketers to enhance their market share by broadcasting smart promotions to grocers. Selma Ribica, co-founder and managing partner of First Circle Capital, says, “At First…
- The SAB Foundation, an independent trust connected to South African Breweries, has given R30 million (about $1.75 million) to LIQID Medical, a South African health tech startup (SAB) Dr. Daemon McClunan, an award-winning ophthalmologist, specializing in treating glaucoma, started LIQID Medical, a…
