- 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…
- 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…
