- 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…
- Nigeria’s automotive landscape is dominated by used vehicles, locally known as Tokunbo. With over 12 million vehicles on the roads, 90% of which are second-hand, car owners face numerous challenges. These include finding reliable mechanics, high repair costs, limited maintenance knowledge, and…
- Safaricom, Kenya’s leading telecommunications company, has partnered with local fintech firm Pezesha to introduce a groundbreaking credit product called Mkopo wa Pochi. This new offering targets small business owners, allowing them to access loans directly through their M-PESA business accounts.…
- President Cyril Ramaphosa has signed the amended National Land Transport Act into law, addressing the long-standing need to accommodate and regulate ride-hailing services in South Africa. This landmark legislation paves the way for ride-hailing operators, such as Bolt and Uber, to obtain operating…
- Airtel Kenya has made significant strides in expanding its 5G network infrastructure, now covering 39 counties and 285 wards across the nation. With over 690 operational 5G sites, the telco is capitalizing on the surging demand for 5G connectivity among Kenyan users. Fueled by the market’s…
- According to Woda CEO Steven Cui, they are the first local business to supply telecom towers to Safaricom Ethiopia. He emphasized that the company is committed to maintaining the highest standards of reliability and quality in its services. The telecom company announced that the network expansion…
- Nairobi’s Wasoko and Cairo-based rival MaxAB — two B2B e-commerce startups that facilitate retailers’ ordering of fast-moving consumer goods (FMCG) from suppliers via their respective apps — announced a planned “merger of equals.” Their goal was straightforward: to create better economies of scale…
- Across Africa, startups are emerging as innovative solutions to address the continent’s distinct challenges. From healthcare and education to transportation and agriculture, these startups are utilizing technology, entrepreneurship, and local knowledge to develop impactful solutions tailored to the…
- Prospa, the Y Combinator-backed business banking startup, is facing complaints and social media callouts due to persistent delays in processing customer withdrawals. Four customers reported that their withdrawals have not been processed since May 2024, despite the company’s claims of service…
- Nigeria’s Securities and Exchange Commission (SEC) has issued a warning to investors about $DAVIDO, a meme coin supported and promoted by Afrobeats superstar Davido, which plummeted by 90% within 24 hours of its launch. The coin rapidly reached a $10 million market capitalization just four hours…
- In a bid to enhance the financial well-being of Nigerians, Baobab Nigeria has introduced an innovative savings application called Jollof+. Designed to enable users to save efficiently while earning competitive interest rates, the platform caters to individuals, families, and groups, providing easy…
- Bosso, a Zambian startup offering innovative e-commerce solutions for the African building and construction industry, has successfully raised US$400,000 in its pre-seed funding round. Established in 2022 by Chisepo Chirwa, Mukopaje Singogo, Ibn Kafwanka, and Salwa Shamapande, Bosso stands as the…
- South Africa’s Standard Bank, the largest African lender by assets, will provide funding for the controversial Uganda-Tanzania oil pipeline, according to a Bloomberg report on Thursday. The 1,445km pipeline, intended to connect Uganda’s oil fields on the shores of Lake Albert to the Tanzanian port…
