- The insurance industry in Africa is experiencing significant transformation, driven by evolving consumer needs, technological advancements, and shifting demographics. A key demographic group propelling this change is the Millennials generation, born between 1982 and 1994. Market research from IMARC…
- Risevest, the Nigerian fintech startup known for providing users access to global investments and Nigerian stocks, is currently in negotiations to acquire Hisa, a Kenyan startup that offers users access to US stocks. If successful, this acquisition will facilitate Risevest’s expansion into Kenya.…
- Meta has announced the removal of about 63,000 Facebook accounts originating from Nigeria, which were involved in financial sextortion scams. These scams typically involve the perpetrators posing as attractive women to deceive victims into sending nude photographs. Once the images are obtained, the…
- Adenia Partners, known as “Adenia,” has successfully acquired Air Liquide’s operations across 12 African nations, establishing Erium as the first pan-African leader in industrial and medical gases. Effective immediately, the Erium brand will replace Air Liquide in Benin, Burkina Faso, Cameroon,…
- Village Capital,a global nonprofit organization dedicated to early-stage investment, has thrown its support behind two African agritech startups: Aquarech from Kenya and Coamana from Nigeria. These startups will receive investments of $350,000 and $500,000, respectively, as part of Village Capital’…
- TikTok has partnered with Eventbrite, enabling content creators to promote and sell event tickets directly through the app. Creators can now incorporate Eventbrite links into their videos, simplifying the process for viewers to find and purchase tickets for events. This innovative feature, now…
- President Cyril Ramaphosa emphasized the importance of investing in digital infrastructure as a major priority for South Africa’s seventh administration during his opening address to parliament on Thursday night. He noted that digitization will be a crucial driver for job creation. To achieve this…
- The technology sector is spearheading investment within South Africa’s start-up ecosystem, even amid challenging macroeconomic conditions. This insight comes from the South African Venture Capital Association (Savca), which unveiled the findings of its 2023 Venture Capital Survey on Monday. The…
- The highly anticipated Global Tech Africa (GTA) Conference will take place from July 24-26, 2024, at the Landmark Event Centre in Victoria Island, Lagos. This premier event is set to gather a diverse range of participants, including African and international government representatives, visionary…
- Zoho, a global technology company, has partnered with She Code Africa (SCA), a non-profit organization dedicated to empowering African women in technology. This collaboration aims to enhance the skills of female tech professionals and students across the continent. The partnership centers around…
- IXAfrica data centres and Schneider Electric are pioneering a new era in Kenya’s digital infrastructure with the unveiling of a state-of-the-art hyper-scale data centre. Their partnership promises to bring world-class, sustainable cloud services to the region, boosting reliability and efficiency.…
- Grey, a Y Combinator alum and B2C cross-border payments startup, is broadening its horizons. The company, founded in 2020, is extending its services to Latin America (LATAM) and Southeast Asia (SEA). This expansion taps into the growing digital payments market in these regions, catering to location…
- Mastercard has joined forces with Kalabash54, a fintech subsidiary of the Wakanow Group, to introduce a game-changing travel card for customers in Nigeria and Ghana. This collaboration aims to address the unique needs of West African travellers by offering a secure and convenient payment solution.…
- South Africa’s Financial Sector Conduct Authority (FSCA) is intensifying its efforts to regulate financial advice on social media platforms. The regulatory body’s annual report highlights growing concerns about the influence of financial influencers, or “finfluencers,” on consumer behavior and…
- The National Information Technology Development Agency (NITDA) of Nigeria has unveiled plans to develop an indigenous blockchain technology called “Nigerium.” This groundbreaking initiative aims to address the country’s data protection and national security concerns while positioning Nigeria at the…
- Uncover, an emerging beauty brand from Africa, has successfully secured $1.4 million in Seed II funding. The round was led by EQ2 Ventures and igniteXL Ventures, with additional participation from Chui Ventures, Samata Capital, and Altree Capital. This funding milestone comes three years after the…
- LULA, a ride-sharing platform tailored for office workers, has acquired the South African subsidiary of Zeelo, a US-based staff bus-sharing startup, for an undisclosed sum. Both companies chose not to reveal the details of the cash-only transaction. Zeelo, which launched in South Africa in 2019 and…
- Statista, a globally renowned market data provider, and CNBC, a prominent American media company, have included seven African fintech companies—Flutterwave, Piggyvest, Kuda, MTN, Bank Zero, Palmpay, and Yoco—in their 2024 list of the top 250 fintech companies. These startups were chosen from a pool…
- MTN South Africa has taken a neutral stance regarding Vodacom’s ongoing bid to merge with Maziv, a fibre infrastructure company. This week, the Competition Tribunal continues to hear testimonies from factual and expert witnesses about the proposed merger between Vodacom and Maziv. These proceedings…
- UK-based TerraPay, a digital payments provider specializing in remittance transfers across Africa, has secured $95 million in debt financing to improve low-cost remittance transactions on the continent, enhance business activities, and boost both reliability and transaction speed. The financing…
- Innovate Africa, an angel investment fund dedicated to supporting early-stage founders in funding transformative ideas, has launched with an initial $2.5 million rollout. The fund, co-founded by Kristin Wilson and Christian Idiodi, aims to take startups from conception to product, financing…
- Alert Microfinance Bank (MFB), a subsidiary of Alert Group, is revolutionizing the financial management landscape with the launch of its cutting-edge mobile banking app. This innovative app is designed to transform how you handle your finances, offering a streamlined, comprehensive experience right…
- Over 2,300 local SMEs applied for the competition, each bringing innovative sectoral solutions. In the realm of technology, entrepreneurship has often been viewed as a male-dominated field. Odunayo Eweniyi, Co-Founder and COO of PiggyVest, addressed this issue in a UN e-zine article titled “Women-…
- On Monday, July 15, 2024, Nokia announced in a press release that it has forged a new partnership with Telecom Egypt, the state-owned telecom provider, to introduce fifth-generation (5G) technology to Egypt for the first time. This initiative aims to transform the country’s telecom landscape by…
- The Nigerian Communications Satellite Limited (NIGCOMSAT) has initiated the process of replacing NIGCOMSAT-1R, a communications satellite, and is actively seeking support from investors and collaborators worldwide to execute this project. This replacement move, announced by the Managing Director of…
- Dr. Kayode Adeolu Egbetokun, the Inspector-General of Police (IGP) of Nigeria, has ordered the indefinite suspension of the enforcement of the controversial electronic Central Motor Registry (e-CMR) for vehicle owners. On Saturday, July 13, 2024, the Nigeria Police Force (NPF) announced that…
- Members of the United States Congress have submitted a resolution calling on the Nigerian government to immediately release Tigran Gambaryan, a detained Binance executive. The resolution urges the U.S. Government to formally declare Gambaryan as a “U.S. citizen wrongfully detained by a foreign…
- Uncover, a Kenyan marketplace for skincare products, has secured $1.4 million in seed funding to expand its reach into the US, Ghana, and Uganda. Founded in 2021 by Sneha Mehta and Jade Oyateru, Uncover utilizes user data collected through quizzes and other interactions on its app to create…
- Jumia Surges Past $1 Billion Market Cap Amid Renewed Wall Street Optimism Jumia’s share price has surged by 55% over the past five days, indicating growing investor confidence in the e-commerce company. On Friday, Jumia’s share price closed at $12.08, up from $8.46 on July 8, raising its market…
- Breega, one of Europe’s leading early-stage funds, has launched its inaugural African fund, “Breega Africa Seed I,” aiming to establish itself as the top early-stage investor in African entrepreneurs. With headquarters in Paris, London, and Barcelona, Breega has been investing in businesses from…
- Connect Money, a fintech company based in Egypt, has raised $8 million in seed funding to support the launch of five new business verticals. Specializing in banking as a service and embedded financial services, Connect Money’s white-label platform allows businesses to offer debit and credit cards…
- Earlier this month, Johannesburg hosted the successful Huawei Africa Connect 2024. The event brought together industry experts, key opinion leaders, and ecosystem partners from Southern Africa to discuss the construction of data infrastructure in the era of artificial intelligence. During the event…
- Kenya’s 5G market is witnessing significant growth, with Safaricom now surpassing Airtel Kenya in the number of active 5G sites across the country. According to Safaricom’s annual report for the year ended March 31, 2024, the company has established 803 5G sites spanning 43 Kenyan counties. This…
- Zambia’s telecommunications industry is facing significant challenges due to prolonged power blackouts across the country. The Global System for Mobile Association of Zambia (GSMAZ) has raised concerns about the negative impact these outages are having on the sector’s ability to provide quality…
- PressOne Africa, a pioneer in cloud-based phone systems for small businesses, has announced its sponsorship of Lagos Startup Week (LSW) 2024. This annual event, scheduled for July, 2024, serves as a beacon for entrepreneurial spirit across Africa. Mayowa Okegbenle, CEO of PressOne Africa, expressed…
- Redington, a prominent technology aggregator and innovation leader in emerging markets, has announced a pivotal partnership with Vertiv, a global provider of critical digital infrastructure and continuity solutions. This collaboration aims to transform the African technology landscape by empowering…
- Airtel Networks Zambia plc and Zambia Industrial Commercial Bank (ZICB) have joined forces to revolutionize digital connectivity for small and medium enterprises (SMEs) in Zambia. Through this strategic partnership, ZICB’s SME customers will gain access to cutting-edge digital services, including…
- Africhange, a leading global remittance services provider, has made its appearance in the United Kingdom, introducing a suite of efficient and cost-effective international money transfer solutions. The company’s expansion into the UK market marks a significant step in its mission to revolutionize…
- Shoprite Holdings, a prominent South African retailer, has made a significant stride into the digital realm with the launch of its online bulk shopping and delivery service. This new platform is specifically designed to cater to small businesses, including informal stores known as spaza shops,…
- Google Translate has taken a monumental leap forward in its mission to break down global language barriers. The tech giant has announced the addition of 110 new languages to its translation service, powered by cutting-edge artificial intelligence (AI) technology. This expansion represents a…
- Botswana is set to join the ranks of space-faring nations with the development of its first software-defined satellite, BOTSAT-1. This ambitious project, announced on July 3, 2024, marks a significant milestone in the country’s technological advancement and scientific aspirations. The Botswana…
- Regulators around the globe are racing to establish rules for governing the artificial intelligence (AI) sector. The imminent possibility of computers achieving human-level intelligence has posed a significant regulatory challenge for many governments. Despite this, proponents of AI caution that…
- The GDP projections for African nations in 2031, as outlined in the report, relied on growth estimates provided by the International Monetary Fund at the country level. Researchers incorporated these projected GDP figures into their database using Global Trade Analysis Project (GTAP) Adjust, a…
- Kefilwe, a 25-year-old unemployed marketing graduate, can access one hour of internet at Unique Solutions, an internet café in Monarch township in Francistown, Botswana’s second-largest city, for 15 pulas ($1). She is currently interested in applying for Chema-Chema, a government funding programme…
- In the ever-evolving and intricate field of cryptocurrency trading, platforms such as PrimeXBT distinguish themselves not only through their extensive array of services but also by their proficiency in accommodating both beginners and experienced traders. This examination of PrimeXBT will…
- In 2023, Africa and Nigeria experienced mixed results amid a slight global decline in foreign direct investment (FDI). Africa’s FDI inflows decreased by 3%, reaching $53 billion. Meanwhile, Nigeria and other African countries saw a diverse range of investment activities. This information comes from…
- Orange, the pan-African telecommunications operator, has unveiled its latest Orange Digital Center (ODC) in Guinea-Bissau. This new facility is part of Orange’s broader initiative to foster digital skills, promote innovation, and support local entrepreneurship across Africa. The ODC in Guinea-…
- In 2013, Tracey Turner and Jonathan Lewis embarked on an ambitious venture to revolutionize e-commerce in Kenya. Their brainchild, Copia Global, aimed to bridge the digital divide by bringing household essentials to rural and peri-urban areas. For over a decade, the company served as a lifeline for…
- WhatsApp has unveiled a new feature aimed at simplifying event planning within group chats. This integrated tool allows users to create and manage events directly in their conversations, eliminating the need for external planning applications. The feature caters to a wide range of activities, from…
- Kenyan startup Peleza has merged with YC-backed Prembly to create the Prembly Group. This strategic alliance combines Peleza’s expertise in background checks with Prembly’s prowess in identity verification, security, and compliance. Peleza, established in 2015, has built a strong presence in East…
