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- Mike Silber, former Group Chief Regulatory Officer at Liquid Telecom for five years, has been appointed as Group Executive Regulatory at MTN Group. He has been instrumental in the expansion of Africa’s cross-border fiber network and its largest networked data center operation. His unwavering…
- UXLINK, a rapidly growing Web3 social platform and infrastructure, has recently concluded a new funding round, securing over $9 million in total investments. Notable investors in this round include OKX Ventures, Web3Port Foundation, Manifold, UOB Venture, Comma3 Ventures, Cypher Capital, Kucoin…
- Verto Pay is transforming international payments for small and medium-sized enterprises by integrating a multi-currency wallet with options for USD, GBP, EUR, and NGN. This allows business owners to easily navigate the global market, eliminating the complexities of wire transfers and delays. With…
- Startups offering financing support to Nigerians looking to purchase a vehicle are revising their strategies to maintain stable demand amidst the persistent rise in inflation, which is driving up vehicle prices. Auto finance companies provide consumers with the flexibility to purchase vehicles from…
- Businesses can now streamline the creation of impactful Google Search campaigns with the help of AI-generated suggestions and guidance, making the process faster and more efficient. Businesses in Africa and around the world can now leverage Google’s Gemini AI-powered chat-like tool for Search Ads…
- Watu Credit, a local financial provider, has pledged to fund the purchase of over 500,000 electric motorbikes by 2030. Watu Credit’s recent announcement aligns with the release of the Electric Mobility Draft Policy by the Kenyan government. The policy aims to promote the use of electric vehicles…
- Simera Sense, a global leader in delivering comprehensive optical solutions for the small satellite Earth observation industry, has successfully secured €13.5 million in its inaugural round of growth investment. Since its establishment in 2018, the company has experienced rapid growth, offering a…
- Africa-focused Janngo Capital Startup Fund (JCSF) has secured a €4 million ($4.3 million) equity investment from Tunisia’s fund of funds, “ANAVA.” The funding will be used to support francophone African startups and businesses founded by women. As ANAVA’s inaugural investment in Pan-African funds,…
- African payments company, Cellulant, has recently made the strategic decision to exit the Nigerian mobile money sector. This move comes after the revocation of its mobile money license by the Central Bank of Nigeria. The company will now shift its focus to delivering payment services to businesses…
- Climate tech VC Satgana has successfully closed its inaugural fund, with the goal of supporting up to 30 early-stage startups across Africa and Europe. The venture capital firm successfully concluded its fundraising efforts, securing a total of €8 million ($8.6 million) in commitments from family…
- P1 Ventures, a pan-African Seed Venture Capital (VC) fund, has successfully completed the second round of funding for its USD 35 million fund. This will enable the company to expand its team and operations to Dakar, Senegal, and Nairobi, Kenya. In September 2023, the investment firm closed its…
- Sprints, an innovative AI-powered edtech company aiming to revolutionize the future of education, has recently revealed a successful USD 3 million bridge fundraising round. Key investors in this round include EdVentures and CFYE, among others. Established in 2020 by Ayman Bazaraa and Bassam…
- Venture Capital (VC) firm HAVAÍC has spearheaded an R12 million (USD 634 K) follow-on investment round in RNR (Right Now Response). The Cape Town-based VC firm has contributed R10 million, following an initial investment of R9.2 million made as the company’s first institutional investor in February…
- The Commercial Bank of Ethiopia (CBE) reportedly recouped approximately $10 million from customers who withdrew excess funds from their bank accounts following a “systems glitch” on March 16, 2024. Initially, reports suggested that the bank had incurred losses of up to $40 million. However, Abe…
- MTN has announced a collaboration with regulators in multiple markets, such as Nigeria, to seek approval for tariff increases on voice and data services. This move aims to bolster profitability and enhance the company’s financial standing. Following the telco’s report of a decrease in full-year…
- The rise of digital wallets is transforming the financial transaction landscape, offering numerous advantages as a payment solution. With their emphasis on convenience, security, and accessibility, these platforms enable quick and efficient transfers. According to the World Bank, such advancements…
- The collaboration will empower qualified customers to access a loan during emergencies, with the funds being swiftly deposited into their Airtel mobile money account. Airtel money Zambia and PremierCredit have collaborated to introduce a new mobile loan service called “Na Sova KaFast Loan,” with…
- Telecom Egypt and Tejas Networks, an Indian company specializing in optical, broadband, and data networking products, have entered into a memorandum of understanding aimed at enhancing telecom R&D, establishing manufacturing facilities, and fostering skill development in Egypt. With its proven…
- In Kenya, where a staggering 20% to 40% of total food production is lost, Farm to Feed, an innovative agtech startup, is emerging as a game-changer in the battle against food insecurity. The company is bridging the market gap for small-scale farmers, who contribute a whopping 75% of the country’s…
- Meta Platforms, the tech giant behind social media platforms like Facebook and Instagram, is set to introduce new features that will allow content creators in Nigeria to monetize their content through advertisements and other avenues. This move aims to retain the country’s top content creators on…
- Tappi, the innovative digital commerce SaaS solution tailored for Africa’s micro, small, and medium-sized enterprises (MSMEs), has announced its expansion into Côte d’Ivoire. Building upon its rapidly growing operations in Kenya and Nigeria, tappi’s latest country launch features an extension of…
- AUTO24 Rwanda, a prominent local car dealership, has made Tesla vehicles available in Rwanda. The move comes after a campaign launched by the dealership in late 2023, encouraging customers to swap their traditional gasoline-powered vehicles for new electric ones, aiding in a smooth transition to…
- Under the guidance of Saad Kassis Mohamed, WeCare has secured USD100,000 through SilverLake Capital to offer vital aid to Sudan during its critical period. These funds are earmarked for rebuilding homes in areas hit hard by the recent economic turmoil. “WeCare has diligently raised substantial…
- Four former senior managers at Paystack, the prominent African payment company, are embarking on a new venture together in the continent’s burgeoning grocery delivery space. Yinka Adewuyi, Gbadegbo Gbade-Oyelakin, Abdulrahman Jogbojogbo, and Abiola Showemimo, all early employees who spent at least…
- Here is the content with improved transitions and flow, allowing the sentences to connect to each other: Telkom Kenya, the country’s third-largest telecommunications company, has experienced a significant setback as it lost approximately 800,000 subscribers in the past three months. This subscriber…
- Fintech company Unlimit has achieved another significant milestone in its regional expansion by obtaining a payment service provider license from the Bank of Tanzania (BOT). This approval paves the way for Unlimit to introduce a range of new offerings, including business payments, merchant services…
- EMURGO Africa, the investment and commercial arm of Cardano in Africa, has announced the launch of EMURGO Labs, a dedicated development entity focused on emerging Web3 technologies. This new initiative is designed to support the growth of established and nascent Web2 and Web3 organizations across…
- After its launch in 2023, TikTok introduced its “Add to Music App” feature to users across 163 countries globally, including 41 nations in Sub-Saharan Africa such as Kenya and Nigeria. This new addition empowers music enthusiasts to seamlessly save songs they discover on TikTok to their preferred…
- The BimaLab Africa Insurtech Accelerator Program, an initiative by FSD Africa, has secured $600,000 in funding from the Swiss Re Foundation. This financial boost will enable the program to extend its reach across five additional African countries, complementing its existing presence in ten nations…
- The Nigeria Securities and Exchange Commission has put forward a proposal to increase the minimum paid-up capital for virtual asset service providers (VASPs) to ₦1 billion, which is double the previously proposed requirement of ₦500 million. The paid-up capital requirement encompasses bank balances…
- “At Present, Quantum Computing Resembles Classical Computing in the 1960s.” The advent of quantum computing is poised to revolutionize the landscape of cyber attacks. Although not yet fully realized, its imminent arrival warrants keen observation and preparedness for its potential impact on…
- Last Thursday, February 15, Ethiopian Investment Holdings (EIH), the investment arm of the Ethiopian Government, signed a memorandum of understanding with Hong Kong-based West Data Group’s Center Service PLC to initiate bitcoin mining operations. The collaboration is governed by a comprehensive…
- Gebeya, a Pan-African technology company, has recently forged a partnership with O’Reilly, a renowned American learning company, to enhance the technological skills of Africans. “We are excited to announce our partnership with Gebeya for this impactful initiative aimed at empowering thousands of…
- NetBlocks, through its Cost of Shutdown Tool (COST), has disclosed that Nigeria incurred a loss of ₦273 billion ($593.6 million) over a span of four days. Top10VPN has estimated that the internet outages in West and Central Africa have incurred a cost of $112.5 million (USD) up to midday on Friday…
- Since the Central Bank of Nigeria (CBN) announced a floating FX regime in June 2023, the naira has depreciated by as much as 68% in value. For businesses with a portion or all of their operating expenses tied to the dollar, this has resulted in increased operational costs and, in certain instances…
- One month after Uber’s announcement of its plans to back Moove in a $100 million funding round, the Nigerian vehicle financing platform has indeed secured a $100 million Series B. This strategic move marks a major advancement for the company, signaling its intent to venture into untapped markets.…
- mTek, an innovative online insurance platform, has successfully raised $1.25 million (KSh 167.8 million) in funding to drive its expansion in the Kenyan and East African insurance markets. The company plans to leverage the investment from Verod-Kepple Africa Ventures and Founders Factory Africa to…
- Kuda Technologies, the Nigerian-based parent company of Kuda Microfinance Bank, has recently obtained payment licenses in Tanzania and Canada. This significant achievement paves the way for the company to expand its presence across the African and global markets. One of the licenses will enable the…
- Meet Kehinde Olutubosun, a visually impaired individual from Nigeria with a passion for geography and animals. Despite his enthusiasm, accessing information has been a challenge due to the lack of a smartphone. However, this is about to change thanks to an innovative solution powered by artificial…
- Omnispace, a satellite broadband service provider based in the US, has entered into a partnership with MTN Group to enhance the mobile operator’s terrestrial mobile network. Utilizing 3GPP standards, the collaboration aims to deliver services to both mobile consumers and enterprise IoT customers…
- Zone, a Nigerian blockchain startup aiding banks and fintechs in payment processing, has secured $8.5 million in its first venture capital funding round since transitioning into an independent entity in 2022. Previously integrated within its parent company Appzone, Zone attracted investment from…
- South Africa progresses in its efforts to establish a competitive electricity market as legislation laying out the framework moves forward. The Electricity Regulation Act Amendment Bill, aimed at opening the national power grid to private generators, received approval from the national assembly on…
- According to a recent report by the Uptime Institute, a significant majority of datacenter operators, approximately three-quarters, have a workforce comprising 10 percent or fewer women. The underrepresentation of women in the datacenter industry is largely attributed to the influence of cultural…
- Kenya holds the top spot in digital advancement within Eastern Africa, as highlighted by the 2023 Eastern Africa Youth Digital Readiness Index, boasting a leading score of 26.75. This positions Kenya at the forefront of the region’s digital infrastructure development, which includes an extensive…
- In Tanzania’s Zanzibar archipelago, rural agriculturists are employing an AI-powered application named Nuru, which operates in the local Swahili language, to identify a catastrophic disease affecting cassava crops early on to prevent its spread. Meanwhile, in South Africa, computer science experts…
- The world is going electric — from vehicles to smartphones, portable electronics and renewable energy storage systems. According to Oscar van Antwerpen, who is the director and founder of leading geological consulting firm Minrom, this battery-powered world is fueled by crucial minerals like…
- OPPO, an international leader in smart devices, is excited to unveil its commitment to enhancing the Internet of Things (IoT) ecosystem with its latest product offerings for 2024, specifically targeting the South African market. IoT, for those who might not be familiar, involves a network of…
- Jacques Jordaan, CEO at Specno As children and awkward teens, the opportunity to dedicate time and effort to learning was neither well understood nor as appreciated as it should have been. Only once our lives devolve into an ever-more complex array of decision-making and stress do we, now adults,…
- The investment landscape for Africa’s technology startups faced significant challenges in 2023, feeling the effects of a global investment downturn often referred to as the “funding winter.” According to the 2023 African Tech Startups Funding Report by Disrupt Africa, there was a near 28% decrease…
- FutureGen Labs is proud to announce its status as the only ISO-accredited genetic laboratory to offer carrier screening in South Africa locally, signalling a revolutionary change to the country’s reproductive healthcare sector. The announcement follows the company’s participation in this year’s…
