22 February 2023
- The Ethiopian government has been planning to sell off 40% of its holdings in Ethio-Telecom, a state-owned telecom company, since 2021. In public records, the Ethiopian Ministry of Finance lauded Ethio-near-monopoly Telecoms in Ethiopia’s…
22 February 2023
- Days after announcing a $530 million investment in Africa, ride-hailing company Bolt has laid off 24% of its Nigerian staff. About 17 of its 70 employees lost their jobs in what the company describes as a restructuring process.
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22 February 2023
- CEO Mark Zuckerberg stated on Instagram that Meta is launching Meta Verified, a new paid subscription service for verification. Instagram and Facebook users on Meta’s platforms can now submit their government ID for a blue verification badge for $…
22 February 2023
- Co-Creation Hub (CcHUB), the largest innovation hub in Africa, is creating a $15 million accelerator program that will be known as The Edtech Fellowship Program. The goal of this program is to back and support 72 startups based in Nigeria and Kenya…
22 February 2023
- Bolt, a ride-hailing service, plans to invest $530 million in its African operations over the next two years. This expansion would allow the firm to hire and train over 300,000 new drivers and couriers by 2023. “During the past seven years, we…
22 February 2023
- The Rice Business Plan Competition 2023 for Student Entrepreneurs, which offers student entrepreneurs practical experience and financial rewards, is now accepting applications. The tournament, which is organized by the Rice Alliance for Technology…
22 February 2023
- BuuPass a B2B2C full-stack marketplace has raised $1.3 million in pre-seed funding to enable operators with a bus management system (BMS) to manage their operations, inventory, and sales. Founders Factory Africa, FrontEnd Ventures, Adaverse,…
22 February 2023
- Qotto, a company that sells solar kits and has operations in Burkina Faso and Benin, has secured $8 million in a Series A equity-debt round. In addition to the Off-Grid Energy Access Fund (FEI-OGEF), Cordaid, and Qotto’s current investors, the IBL…
22 February 2023
- SC Ventures, Standard Chartered’s innovation, fintech investment, and ventures arm has entered into a memorandum of understanding (MOU) with Yabx BV, a company incubated by Comviva and part of the...
The post SC Ventures Partners With Yabx To Offer…
22 February 2023
- Innovation and capital are two essential factors that play a critical role in driving economic growth and development in Africa. The continent has immense potential, and with the right investments in innovation, Africa can achieve its full…
21 February 2023
- The Central Bank of Nigeria (CBN) is reportedly in talks with blockchain firm R3 to develop a new system for its digital currency, the eNaira, with the aim of keeping full control of the initiative.eNaira, which is Nigeria's first digital version…
21 February 2023
- Bangladesh’s smartphone shipments declined 23% YoY in 2022, according to the latest research from Counterpoint.The market intelligence group highlighted, weak consumer demand, rising inflation, global supply chain disruptions, increased import…
21 February 2023
- Kenyan HR payroll startup Workpay has raised $2.7 million in a pre-Series A funding round to expand its services in 40 African countries, almost double its current reach.Launched in 2019, Workpay offers tools for employers to manage employees' time…
21 February 2023
- 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,…
21 February 2023
- After a two-year suspension, Meta Platforms has reinstated former US President Donald Trump’s access to Facebook and Instagram, according to Meta spokesperson Andy Stone. After determining that Trump’s accounts posed a significant risk of further…
21 February 2023
- 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…
21 February 2023
- Keeping with its theme of being unoriginal, Meta has copied Twitter Blue and is rolling paid blue badges which is the Meta Verified subscription service that gives you a verified checkmark next to your username on either Facebook or Instagram. It’s…
21 February 2023
- Chari, a business-to-business (B2B) e-commerce startup based in Morocco that offers embedded financing for the fast-moving consumer goods (FMCG) industry, has just raised $1 million. The additional US$1 million in funding was provided by Orange…
21 February 2023
- Several sources who spoke to TechCabal say that the layoffs happened despite a recent promise of job security from the company’s CEO Markus Villig
21 February 2023
- 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…
21 February 2023
- 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…
21 February 2023
- 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…
21 February 2023
- As the industry adjusts to increasing levels of cybercrime, insurers are increasing premiums and becoming more strict about whom they will insure. However, if organisations don’t meet even the minimum requirements of security and data protection,…
21 February 2023
- Ride-hailing company Bolt has reportedly laid off 20 staff members from its Nigerian subsidiary, Bolt Nigeria, according to anonymous sources within the company.The layoffs come a day after Bolt announced plans to recruit 326 new staff globally,…
21 February 2023
- The European artificial intelligence (AI) market is expected to grow despite the global inflationary environment, geopolitical tensions in Ukraine, IT budget cuts, and macroeconomic uncertainty, based on projections by the International Data…
21 February 2023
- The economic fortunes of Kenyans in the diaspora have significantly improved in recent years, with diaspora remittances or money sent back home by Kenyans living abroad steadily rising to become...
The post Relocating Abroad: Key Things You Need To…
21 February 2023
- In this interview for TechCabal, Noel K. Tshiani,(@NoelTshiani) of Congo Business Network, interviews Fidèle Nsadi about his foray into the fintech space in Kinshasa.
21 February 2023
- The United States ranks as the most Bitcoin-obsessed country in the world, according to a new study. Nigeria, is the...
Source
21 February 2023
- The recent Naira redesign in Nigeria has led to cash scarcity. So most Nigerians have had to rely heavily on internet transfers and POS transactions. But this has led to an increased rate of failed transactions. So here are ways to reduce failed…
21 February 2023
- Security software and hardware company, Sophos, today announced the expansion of its next-generation firewall portfolio with two new high-end, enterprise-grade...
Source
21 February 2023
- realme confirmed this week the upcoming release of its next-gen flagship realme GT3 which will feature a world-leading 240W fast charging. Powering this industry innovation is realme continuous investment in R&D resources. The brand has now…
21 February 2023
- Naked announced a $17 million Series B last week to digitise insurance in South Africa.
21 February 2023
- Digital lending firm, Tala, is planning to soon open up for possible partnerships within the financial technology sector in Africa....
Source
21 February 2023
- Sometime last week, telco Safaricom hosted its first-ever investor day event with the aim of updating its stakeholders on the company’s journey to becoming a purpose-led technology company by 2025. The hybrid event, which was attended by over 100…
21 February 2023
- Netflix has announced a reduction in prices for its subscription plans in Kenya. The move is aimed at making its services more accessible to Kenyan audiences, especially in a time where streaming has become the...
21 February 2023
- TikTok launched an election hub for Nigeria's upcoming election. Three days to D-day, I decided to use it to see what it’s like. Here is how it went.
21 February 2023
- Global provider of critical digital infrastructure and continuity solutions, Vertiv ,today introduced the Vertiv™ Liebert® GXE, an online double-conversion single-phase...
Source
21 February 2023
- End-user security training has traditionally been an important aspect of cybersecurity efforts, as it aims to educate and empower employees to identify and prevent potential threats. However, with the advancement of artificial intelligence (AI),…
21 February 2023
- Yodawy, an Egyptian digital healthcare startup, has raised US$16 million in the first close of its Series B funding. The company has pioneered a pharmacy benefit management platform in the MENA market by combining technology, experienced…
21 February 2023
- Know Your Customer (KYC) technology and Consumer Analytics company, QoreID has announced the appointment of Diana Aba Yorke as its new Country Manager in Ghana. Diana brings a wealth of experience and knowledge to her new role having worked in…
21 February 2023
- Ride-hailing app inDrive has secured $150 million in a debt funding round from General Catalyst to develop new business verticals.Founded in Russia, but with a now established base in the US, inDriver is a global mobility and urban services…
21 February 2023
- Jumba, Kenya’s construction startup has raised $4.5M in a seed funding round. The startup facilitates retailers of construction materials to restock and real estate developers to access the supplies they need for their projects. Jumba was launched…
21 February 2023
- Mintoak, a SaaS platform that provides merchant services in India and other markets, has raised $20 million in a Series A round led by PayPal Ventures, bringing its total raise to date to $25.8 million. Founded in 2017, Mintoak offers a Software-as…
21 February 2023
- Flance, an employee benefits company serving Africa’s gig economy, has announced a collaboration with leading ride-hailing platform Bolt that provides Bolt drivers in Nigeria with access to discounted healthcare plans. Through this collaboration,…
21 February 2023
- Apple continues to lead the US smartphone market in the third quarter of 2022 as the market recovered from semiconductor shortages witnessed in 2021, according to the latest research by the market intelligence Counterpoint.Smartphone shipments in…
21 February 2023
- Crypto-focused quantitative hedge fund, Galois Capital, has announced its closure and will be returning its remaining money to investors, according to documents seen by the Financial Times.Galois Capital had managed approximately $200m in assets…
21 February 2023
- Microsoft is reportedly planning to integrate artificial intelligence technology into Windows 11 in the next few years to bolster the utility and overall user experience, a report by Windows Central said.This comes as the company has already said…
21 February 2023
- As the world moves away from fossil fuels, the Middle East and North Africa (MENA) region, particularly the GCC countries, are increasingly pushing towards technology and green solutions.MENA countries are committing to net-zero efforts, with Saudi…
21 February 2023
- The Baobab Network, a Nairobi-based accelerator that invests in early-stage tech companies across Africa, has announced its latest cohort of five investees, each of which secures US$50,000 in funding. The Baobab Network has been accelerating…
21 February 2023
- Terraa, a Moroccan B2B tech-enabled food distribution platform, has raised $1.5 million in pre-seed funding in a round led by FoodLabs, a European early-stage VC investor and venture studio for food, sustainability, and health. Other participants…
