- Zedcrest, a prominent debt and equity capital markets investment firm, has successfully acquired the Nigerian branch of RMB Stockbrokers. The transaction, valued between ₦400 million and ₦420 million, marks a strategic expansion for Zedcrest in the country’s burgeoning equity market. This…
- Meta is set to revolutionize the gaming experience within the metaverse, unveiling plans to integrate advanced generative AI technology into VR, AR, and mixed reality games. This initiative marks a significant pivot in Meta’s strategy to rejuvenate its metaverse offerings, with a focus on…
- Telegram recently introduced a new feature allowing creators to share paid content directly through its platform. This update enables users to support their favorite content creators or monetize their own content through the use of “Stars,” Telegram’s digital currency initially intended for…
- Copia Global, the Kenyan B2C e-commerce startup that entered administration on May 24, has decided to cease efforts to revive its business. Instead, it will liquidate its assets to pay creditors, according to an internal memo obtained by TechCabal. This liquidation signifies the end of the e-…
- Nigeria is a nation driven by hustlers and business owners, with its army of micro, small, and medium enterprises (MSMEs) playing a pivotal role. These MSMEs contribute 50% to the GDP, create 60 million jobs, and serve as the addressable market for numerous startups that have secured funding in the…
- Bamboo, a Nigerian-based online stock platform, has expanded its operations to South Africa, marking a significant milestone in its growth across the African continent. This move allows South African users to invest in US stocks directly from their smartphones, offering unprecedented access to…
- Meta has opened up new avenues for content creators in Nigeria and Ghana to monetize their work on platforms like Instagram and Facebook. This development, which took effect this year, marks a departure from previous policies that excluded creators with Nigerian and Ghanaian addresses from Facebook…
- In recent years, Nigeria’s banking landscape has witnessed a significant transformation. Banks are increasingly adopting local card schemes like Verve, moving away from international giants such as Visa and Mastercard. This shift is driven by evolving consumer behavior and macroeconomic factors.…
- In 2024, Kenyan users can seamlessly transfer funds between their PayPal and M-PESA accounts through the PayPal Mobile Money Service. This innovative financial bridge, facilitated by TransferTo in partnership with Safaricom and PayPal, has revolutionized digital transactions in Kenya. To access…
- Zambia is taking significant steps to embrace the future of technology by developing a comprehensive Artificial Intelligence (AI) Framework. Felix Mutati, the country’s Minister of Science and Technology, recently announced that this initiative is already in progress, signaling Zambia’s commitment…
- Naspers, the Cape Town-based multinational technology and investment giant, has released its financial results for the fiscal year ending. The report sheds light on the performance of its subsidiary, Takealot Group, a major player in South Africa’s e-commerce sector. Despite facing a challenging…
- SpaceX’s Starlink is set to make waves in Kenya’s internet landscape with the anticipated introduction of its ‘Starlink Mini’ antenna later this year. This development could significantly transform internet access in the East African nation, particularly during times of political unrest and alleged…
- Birdnest, an Egyptian proptech startup, has secured an undisclosed amount of funding to expand into new markets and enhance its existing operations in Egypt. The pre-Series A funding round saw contributions from Beltone Venture Capital and CI Venture Capital, among other investors. Although the…
- This year, Kano has joined the ranks of the top 1,000 startup cities globally for the first time. Known as the commercial capital of northern Nigeria, the city has witnessed a surge in startup activities over the past four years. This growth can be attributed to the success of pioneering tech…
- Worldcoin, the contentious cryptocurrency and digital identity project that faced a shutdown in Kenya shortly after its launch last year, seems set for a return to the country, potentially reigniting privacy debates. Kenyan authorities have ceased their investigation into the project’s data…
- The green revolution in tech startup funding continues on the continent, with a new report revealing that Africa’s climate tech startups have surpassed their fintech counterparts, securing nearly half of all funding accumulated so far in 2024. Startup funding is favoring African climate tech…
- Have you ever found yourself in a community or country where you couldn’t understand a single word? Or tried to figure out a menu in a foreign restaurant only to end up with a mystery dish? Google’s latest update to Translate might be the perfect solution for global travelers. With this update,…
- The THRIVE Global Impact Challenge is inviting applications from African agrifood startups for a chance to win a $1 million prize. The goal of the challenge is to help fund the transition towards a net-zero agricultural future. The THRIVE Global Impact Challenge is a global initiative aimed at…
- A new report released by the Communications Authority of Kenya (CA) indicates a surge in the number of mobile money subscribers in Kenya. According to the report, subscribers on mobile money platforms grew to 38.7 million, reflecting a penetration rate of 75%. The third-quarter sector statistics…
- From celebrity-endorsed memecoins to tap-to-earn games that promise illusory wealth, the crypto and blockchain scene in Nigeria has often been seen as a series of get-rich-quick schemes. Senator Ihenyen, Lead Partner and Head of Blockchain at Infusion Lawyers, highlighted this issue by stating that…
- Africa stands at a pivotal moment to shape the future of work as large language learning models (LLMs) evolve and the application landscape remains nascent. This insight comes from the “AI and the Future of Work in Africa” whitepaper, produced by Microsoft in collaboration with industry experts…
- Following last week’s demonstrations, Kenya has erupted in protest this week against a new finance bill perceived as worsening economic hardship. These demonstrations, which have resulted in at least 13 fatalities according to Reuters, as police opened fire on protestors on Tuesday, were…
- Nigerian banks owe telecom companies ₦200 billion for utilizing Unstructured Supplementary Services Data (USSD) banking. This debt has created friction between banks and telcos for six years, necessitating intervention from the Central Bank and the Communications Commission. Following a late 2023…
- Paris-based venture capital firm Breega has achieved the first close of its latest fund, securing approximately 70% of its targeted USD 75 million. Since its debut in the VC industry in 2015, Breega has successfully completed fundraising for four funds: an initial seed fund of EUR 45 million, a…
- Noki Noki, a logistics company based in Congo, has raised USD 3 million in seed funding. The investment round was spearheaded by Uma Ventures, a venture capital firm known for supporting Early Stage Venture, Late Stage Venture, and Seed Ventures throughout Africa. Founded in 2021 by Jonathan…
- Less than a year since its introduction in Kenya in July 2023, Starlink’s user base has seen a dramatic increase, with the number of subscribers growing more than tenfold. This rapid adoption rate of the Elon Musk-owned internet service is evident from the statistics: just three months prior to…
- Over a month since its eagerly awaited debut, Amazon’s foray into South Africa’s e-commerce landscape has stirred curiosity rather than causing a major shake-up. The introduction of this retail behemoth initially created substantial excitement, but early indications show a more deliberate, cautious…
- Sahl, a startup based in Cairo, has secured $6 million in Series A and seed funding to establish itself as a comprehensive domestic bill management platform in partnership with government entities. Ayady for Investment and Development, a leading Egyptian investment firm, led the $6 million funding…
- The Africa Fintech Festival has ignited dynamic discussions about the future of fintech regulations across the continent. A significant takeaway from the event was the advocacy for smart regulation and the exploration of “passporting” fintech regulations, a model that could streamline the licensing…
- To strengthen Nigeria’s foreign exchange market, a significant action is being taken. the Central Bank of Nigeria (CBN) has announced that International Money Transfer Operators (IMTOs) will now be permitted to sell foreign currency on the official window. This decision comes as the Nigerian naira…
- In June 2024, Kenya witnessed a remarkable shift in its political landscape as Gen Z transformed from perceived political bystanders to tech-savvy activists. The catalyst was the controversial Finance Bill 2024, which sparked a digital uprising that quickly evolved into a nationwide movement,…
- Africa Data Centres, a subsidiary of the Cassava Technologies group, has secured funding to expand its data centre capacity and meet the increasing demand for cloud computing services in South Africa. This was achieved through a customized financing solution arranged by RMB. The financing agreement…
- LAfricaMobile, a cloud communication startup based in Senegal, has successfully secured US$4.6 million in a Series A funding round to accelerate its expansion across French-speaking Africa. The round saw participation from French footballers Aurélien Tchouaméni and Jules Koundé and was led by…
- The global freelance market, valued at $1.3 trillion and supported by over 200 million knowledge workers, has created a demand for solutions that automate payroll and streamline employment and tax regulations worldwide. However, many existing products fall short in addressing the legal landscape of…
- Lagos state, Nigeria’s commercial hub, implemented e-hailing regulations in 2020, becoming the first state in the country to do so. However, recent discussions have revealed that these regulations may not adequately address the concerns of all stakeholders, particularly cab drivers. Comrade Ayoade…
- Nigerian fintech company Eyowo has achieved a significant milestone with the full reinstatement of its license by the Central Bank of Nigeria (CBN). This development marks a turning point for the company, which has navigated considerable challenges in recent times. Yomi Adedeji, CEO of Eyowo,…
- In a groundbreaking collaboration, the Space Exploration & Research Agency (SERA) and Nigeria’s National Space Research and Development Agency (NASRDA) have joined forces to send the first Nigerian citizen into space. This historic partnership marks a significant leap forward in Nigeria’s space…
- Infobip, a global cloud communications platform, has strengthened its collaboration with Oracle by becoming an Independent Software Vendor (ISV) with access to Oracle Integration Cloud. This development allows businesses using Oracle solutions to leverage Infobip’s omnichannel platform through the…
- The West Indian Ocean Cable Company (WIOCC) Group, a leading provider of high-capacity connectivity, is set to receive a substantial funding package exceeding $50 million. This significant financial boost comes from a consortium of international institutions aimed at bridging the digital divide in…
- Amazon Web Services (AWS) has announced a substantial $230 million commitment to support startups worldwide in developing generative AI applications. This initiative aims to provide early-stage companies with AWS credits, mentorship, and educational resources to advance their use of AI and machine…
- In a shocking revelation, a digital rights organization called Paradigm Initiative has uncovered a significant data breach affecting millions of Nigerians. Personal and sensitive information collected during various government exercises is now readily available on online platforms for a mere 100…
- i’SUPPLY, an Egyptian pharmaceutical distribution startup, has raised a pre-Series A funding round, bringing its total funding to US$2.5 million since its launch in 2022. Disruptech Ventures, OneStop Capital, Axian Investment CVC, and Egypt Ventures were among the notable investment funds that…
- By Michael Mynhardt, Co-founder & CEO of MMH & Partners Africa The African continent and the people who live in South Africa, deserve access to improved vaccine-supply and medicine security. Sadly, this won’t be possible if we don’t strengthen our local healthcare system, in a pan-African…
- Potcast Productions, a podcast production company based in Egypt, has successfully secured an undisclosed amount in its pre-seed funding round. The company plans to utilize these funds to enhance its content production capabilities, speed up the development of new series, and boost its marketing…
- One week following the online leak of Kenyan government officials’ phone numbers by unknown persons, the hacker group Anonymous has issued a threat to expose “corrupt deals involving members of parliament (MPs)” if they vote to pass the 2024 Finance Bill on Thursday. Founded in 2003, Anonymous aims…
- eClat, the health-tech subsidiary of Nigerian payment giant Interswitch, has partnered with the Lagos State Ministry of Health to launch a cloud-based platform, the Smart Health Information Platform (SHIP), which will manage and transmit data for all state-owned healthcare facilities. This marks…
- Downforce Technologies, a climate tech startup based in London, has secured $4.2 million to develop new products targeting Africa and to expand into additional markets. This funding round was spearheaded by Equator VC, an early-stage venture firm focused on climate tech in Africa. Existing…
- Africa Data Centres, a subsidiary of Cassava Technologies, has secured crucial funding to expand its data centre capacity in South Africa. This financial boost, arranged by Rand Merchant Bank (RMB), will enable the company to meet the growing demand for cloud computing services in the region. The…
- Paystack, a prominent Nigerian fintech company, has extended its Virtual Terminal service to four additional African countries: Côte d’Ivoire, Ghana, Kenya, and South Africa. This expansion marks a significant step in streamlining in-person payment processes across the continent. The Virtual…
- Vodacom Group, a leading African telecommunications company, has demonstrated its commitment to combating fraud within its organization. The company’s annual report for the 2024 fiscal year reveals a comprehensive effort to identify and address misconduct, resulting in significant personnel actions…
