- People familiar with the situation told Bloomberg that MTN Group, Africa’s biggest mobile phone company, is planning to sell off some of its smaller operations in West Africa to focus on its main markets. The telecom giant is currently looking at its assets in the area to figure out which could be…
- Last year, African start-ups raised a record US$5.3 billion. However, that may be the peak because the funding pool is getting smaller as the tech industry slumps. According to data from Buiter Bridges, a market intelligence company, the number of deals jumped 20% to 964 in 2022, even though the…
- In a pre-series A funding round that was oversubscribed, the Nigerian agritech startup Releaf raised $3.3 million. With the new money, the company will be able to roll out two new technologies that will make it easier for African factories that make consumer goods to get high-quality ingredients.…
- The new product uses Yellow Card’s crypto exchange platform to complete customer transactions in USDT. It’s important to know that Yellow Pay is not a service for sending money abroad or exchanging foreign currency. Instead, Yellow Pay is an advanced crypto exchange product. Yellow Card’s crypto…
- Sky News says that top African fintech company Flutterwave and several other interested parties are in talks to buy the well-known British fintech company Railsr. The UK-based startup focuses on “embedded finance solutions,” like banking services, and has been under pressure because it has been…
- Next month, more than 1,000 tech leaders, investors, and other players will gather for the fifth Africa Tech Summit in Nairobi, Kenya. This leading conference brings businesses together and encourages investments in Africa’s tech ecosystem. It will take place at the Sarit Expo Centre on February 15…
- raised $13 million in equity and debt during its pre-Series A round.With this new investment, the company will be able to grow its business in new countries and keep improving its technology platform, which brings together all of the different logistics and financing providers in the African trade…
- As pre-sales of Elon Musk’s satellite internet service Starlink begin in Nigeria, the prices for its starter kits have been made public. Starlink announced in a statement obtained by TheCable on Tuesday.The adjustment is in keeping with the company’s plans to establish and expand its offerings in…
- Plesion Capital has announced that it will be a social impact venture capital firm that will work with entrepreneurs and businesses with a mission to fight global poverty. It works by making pre-seed and seed investments in promising entrepreneurs whose products and services make people’s lives…
- The strategic investment arm of National Holding, Emirates International Investment Company (EIIC), has signed a partnership agreement with Mahaseel Masr, one of the first regional B2B digital platforms for fresh produce, to speed up the deployment of the Mahaseel Masr Agri e-commerce platform. The…
- When non-disclosed transactions were eliminated, African companies founded by women on the continent raised 203.2 million US dollars. This is 58% less than what businesses of this type mobilized in 2021. This information, which covers fundraising transactions worth over USD 100,000, reported by…
- Three South African entrepreneurs in technology are hoping that their new Blockchain, called Fraxeum, which is still in its early stages, will change the world of finance. This is because more institutions, banks, and service providers are using Blockchain to make it possible for retail investors…
- Everyone suffered during the Covid-19 pandemic. However, for Siyamtanda Hlobo, the enforced lockdowns resulted in developing her hobbies into a life-changing technological start-up called Eleglam Business and Digital Solutions. Her business was one of ten finalists in the R1 million MTN Women in…
- Teraki, an Ethiopian audiobook and podcast startup, has received funding from Renew Capital, an Africa-focused impact investing firm. The deal, which was done recently for an amount that is not known, is suitable for both Teraki and Ethiopia’s growing audiobook and podcast community. Teraki and…
- As the African Energy Chamber finalizes plans for a New Year’s party on January 26 in London, they are also looking for new ways to fund energy projects in Africa. At the special New Year’s Reception at London’s Waldorf Hilton hotel, people will be encouraged to look for new ways to fund energy…
- African tech startups that are still in their early stages can now apply for the Baobab Network 2023 Accelerator Program. The Baobab Network is a world-famous accelerator program that helps the most innovative ideas on the African continent get bigger. Selected startups will participate in a 3-…
- From fintech to agritech, African technology innovators demonstrated that they are at the vanguard of change on the continent during the recent Africa Money & Defi Summit in Accra, Ghana. David Boye-Doku, the co-founder of PayBox, said that Africa could skip ahead to decentralized finance (Defi…
- The “Maroc Numeric Fund II” (MNF II) has said that it will expand its investment to include startups started by Moroccans living outside Morocco.This is done because the Moroccan diaspora has made a significant contribution to the growth of the Moroccan startup ecosystem. The Fund’s control bodies…
- people talking as its locally produced microsatellite prepares for launch from Cape Canaveral. As part of the Transporter-6 mission, EOS SAT-1 will launch from SpaceX’s launch pad. Dragonfly Aerospace’s main office is in Stellenbosch, and they are building a network of “eyes in the sky” that they…
- If your firm uses cutting-edge technology for climate action, such as drones, blockchain, extended reality (XR), artificial intelligence (AI), machine learning (ML), or unique data science (DS) then the UNICEF Funding Opportunity for Climate Startups is for you. Benefits From the UNICEF Venture…
- This is Dr. Marliyyah Mahmood’s point of view as a woman in technology and project manager for Nigeria’s start-up Arewa. She claims that as a result of technological improvements, women in the West African country now have more access to a variety of options online. “It is hard to overestimate the…
- Mastercard, a US company that makes payment systems, will work with the US Agency for International Development Finance (DFC) on a funding project for digitization and financial inclusion in Africa. The agreement was reached on the eve of the United States-Africa Leaders Summit, which took place in…
- The Director General of the Ethiopian Communication Authority (ECA) said that the ECA plans to put out an expression of interest for a third telecom provider at the beginning of February 2023. This comes after the authority called for stakeholder engagement on November 16, 2022, for the third…
- Millesima Technologies, a Tunisian startup registered with StartupAct that focuses on data technology, streaming video, and VOD, has announced a 1.5 million dinars (USD 480K) fundraising. The launch of the MYVIOO platform will be aided by fund from BH Equity, a subsidiary of BH BANK that has been…
- Applications are being accepted for the 9th round of the Tony Elumelu Entrepreneurship Programme .The program gives US$5,000 in funding and training to startups. The Tony Elumelu Foundation (TEF), which runs the program, has set aside US$100 million to help mentor, train, and fund 10,000 African…
- LeapFrog Investments led a $70 million equity investment in Sun King, which sells solar energy products that off gridgrid in Africa and Asia. This is an increase to the solar startup’s $260 million Series D round, which was announced in April. BeyondNetZero led the round. Since it started, Sun King…
- The new Regional Emergency Solar Power Intervention Project (RESPITE), funded by the International Development Association (IDA), will assist current and potential electricity customers in Chad, Liberia, Sierra Leone, and Togo. A $20 million grant is part of the new project. It will help the West…
- Together with its commercial sector partners, the Global Fund to Fight AIDS, Tuberculosis, and Malaria will assist Sub-Saharan African nations in improving their digital health systems. For this purpose, the Digital Health Impact Accelerator (DHIA), a $50 million catalytic fund, has been formed.…
- Kazana Fund has opened its angel syndicate, a big step toward making it easier for great African founders to access capital and networks and speed up the growth of Africa’s digital economy. Kazana Fund is an early-stage investor that wants to work with “great African startups.” Its angel syndicate…
- Visa will spend $1 billion in Africa over the next five years to take advantage of the continent’s booming market and growing reliance on digital payments. Alfred Kelly Jr., Visa’s CEO, said, “Visa has been investing in Africa for decades to build a truly local business.” As e-payments become more…
- Calvin Ayre, who started the well-known bitcoin venture capital firm Ayre Ventures, helped fund Centbee’s $1 million pre-series A round. Based in London and South Africa, Centbee helps people send and receive digital currency on the Bitcoin blockchain BSV. Centbee, a company that started in 2017,…
- AfriWallStreet, Africa’s top human capital development firm, has been accepted into the Engenesis Venture Building Startup Program, which will begin in January 2023. The Genesis Framework is used by the Venture Building Start-Up Program (VBSU) to help startups gain traction and grow. It is a 4-week…
- Fawry, a prominent fintech and banking services firm, has announced a strategic agreement with Classera, a leader in teaching and distant learning technologies, to improve e-payment services and integrate Fawry and Classera Cpay digital payment solutions. As part of this partnership, “Fawry”…
- Finclusion Group, a South African company that is building Africa’s first credit-led neobank, has said that it has received an extra $2 million in funding. The funding was provided by Leonard Stiegeler, who is also joining the company’s board of directors, and current investors Sudeep Ramnani and…
- As part of their partnership, TLG Capital and Future Africa have created a US$25 million venture debt fund from TLG’s existing funds. This fund will be given to companies in the Future Africa portfolio that meet certain requirements. The two companies have joined forces to offer founders a program…
- Qualcomm, an American tech company, has introduced the Africa Innovation Platform, a mentorship, education, and training program to help Africa’s new tech industry grow. In a statement, Qualcomm said that the platform would help local universities, small to medium-sized startups, and grant…
- CheckMe, an Egyptian e-health startup backed by the T3G investment group, has purchased DoctorOnline, increasing its market worth to $20 million. CheckMe is a customer-centric mobile app-based marketplace that provides on-demand medical laboratory services through a network of lab partners.…
- The collaboration with TLG Capital exemplifies two institutions that have long recognized that a lack of access to capital for African firms restricts their potential to expand. We will apply our collective experience to address some of the concerns, demonstrating our commitment to making a long-…
- 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,…
