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- Amini.ai, a climate-tech startup headquartered in Nairobi, is dedicated to using artificial intelligence and satellite technology to address Africa’s environmental data gap. The company has secured $4 million in seed funding to expand into new markets. The funding round was spearheaded by…
- Bujeti, a Nigerian startup specializing in expense management and budget creation, has successfully secured $2 million in seed funding for its financial platform. The leading force behind this fundraising round was Y Combinator (YC), accompanied by a group of notable supporters, including Alan…
- FBS, a global broker, and Education Africa, a non-profit organization dedicated to poverty alleviation through education, have again joined forces to spread holiday cheer. This collaborative effort aims to distribute Christmas gifts and extend warm wishes to families in need from Etwatwa, Daveyton…
- ITC is actively supporting the growth of small cashew processors and brands in Senegal, facilitating their entry into new markets. Recently, they conducted a comprehensive training session on packaging, benefiting 30 cashew processing businesses in the country. Among other West African nations like…
- Tappi, a Kenyan startup specializing in a chat tool that automatically generates webpages, has successfully secured US$1.5 million in an oversubscribed pre-seed funding round. The two-year-old e-commerce platform attracted support from notable investors, including Digital Currency Group, SOSV,…
- TUNL, a South African parcel shipping platform, secured $1 million in pre-seed funding from investors such as Founders Factory Africa, Digital Africa Ventures, E4E Africa, and Jozi Angels. Established in 2022 by CEO Matthew Davey and COO Craig Lowman, the company was born out of Davey’s experience…
- MaxAB and Wasoko, the Tiger Global-backed Kenyan e-commerce startup, are in the early stages of a planned merger, aiming to solidify their position as Africa’s premier leader, according to statements from Daniel Yu, CEO of Wasoko, and Belal El-Megharbel, CEO of MaxAB, shared with TechCabal. The…
- In a significant development for the Nigerian crypto industry in 2023, the Financial Policy & Regulation Department of the Central Bank of Nigeria (CBN) has announced removing the ban on crypto transactions within the country’s financial system. This decision marks a reversal of the restriction…
- Versofy SOLAR, a South African firm dedicated to solar energy solutions, has achieved notable progress in the renewable energy sector since its establishment in 2021. Having effectively deployed more than 50,000 solar panels in around 4,000 households nationwide, the company produces an impressive…
- Agricultural startups can gain empowerment through the synergy of Agritech solutions and digital marketing. With rising literacy rates in rural areas and advancing infrastructure, young farmers and agri-processors collaborating with the International Trade Centre (ITC) are poised to seamlessly…
- E4E Africa, a South African venture capital firm, has completed the first round of funding for its E4E Africa Fund II, achieving a milestone with a targeted size of US$30 million. The company is actively garnering interest from new investors globally, signaling its intent to expand its reach…
- Little, the ride-hailing app, has introduced a new platform that harnesses advanced Artificial Intelligence (AI) to allow people to craft their personalized Santa Christmas cards. This innovative technology empowers users to design holiday cards that perfectly match their preferences. Christmas…
- Bolt, the on-demand mobility company in Africa, has introduced new Trip Safety Monitoring features for its ride-hailing vehicles. These features offer enhanced support to drivers and riders through a dedicated in-house safety team. The update enables Bolt to automatically initiate in-app…
- The aerospace startup is in the process of establishing a network of autonomous airships, aiming to revolutionize the global delivery of goods and services. These airships, developed by the South African company, serve as a cost-effective alternative to drones, helicopters, and satellites. They can…
- MTN Group has initiated a series of satellite trials across Africa, collaborating with partners such as Starlink, AST SpaceMobile, and Lynk Global to explore the viability of various satellite broadband connectivity options on the continent. The telecommunications company is actively engaged in…
- iSchool, an Egyptian educational technology company, has secured $4.5 million in a recent funding round led by VentureWave Capital. The funding round garnered support from notable investors, including OneStop Capital U.K., Website Investment Network, and Oraseya Capital, the Venture Capital arm of…
- The AfricArena recently held its 7th Grand Summit in collaboration with anchor partner Amazon Web Services (AWS). The summit commenced with an announcement from Sthe Shabangu, Head of Public Relations at AWS Sub-Saharan Africa, unveiling the Gender Diversity Pledge. During her address, Shabangu…
- The AfricArena recently held its 7th Grand Summit in collaboration with anchor partner Amazon Web Services (AWS). The summit commenced with an announcement from Sthe Shabangu, Head of Public Relations at AWS Sub-Saharan Africa, unveiling the Gender Diversity Pledge. During her address, Shabangu…
- AstraZeneca has committed to planting up to six million trees in Kenya as part of its AZ Forest program to foster climate action, human health, and community resilience. The reforestation initiative, spanning six counties in western Kenya near the Rift Valley, encompasses over 3,500 hectares of…
- Africa’s mobile economy is burgeoning as internet adoption rises swiftly across the continent. Over 50% of the world’s fastest-expanding economies are located here. In 2023 alone, the mobile industry contributed a monumental $170 billion to Sub-Saharan Africa’s GDP, representing an 8.1% total share…
- In a digital hub, we can generate 300 digital jobs, fostering the creation of 1,500 opportunities for youths across five average-sized wards in a constituency. These hubs, situated in villages, will connect local youth with both national and international companies. Owalo reiterated the government’…
- With a population exceeding 20 million, Zambia faces challenges in internet connectivity, especially in rural areas due to inadequate infrastructure. DataReportal’s Digital 2023 shows the country has a 21.2% internet penetration rate, equivalent to 4.3 million users. Highlighting a proactive…
- Chefaa, a prominent health tech based in Egypt, has secured a significant $5.25 million investment in its recent funding round, co-led by Newtown Partners from South Africa and Global Brain from Japan. Noteworthy contributors to this funding include GMS Capital Partners LLC from the United States,…
- For the second time in less than two years, M-PESA and Visa have joined forces to enhance global payment options for their users. M-PESA, the widely used mobile money platform with 32.1 million users in Kenya and over 60 million across eight African markets, is making a significant move into the…
- Peter Njonjo, the CEO of Twiga, a Kenyan startup facilitating connections between farmers and food vendors, declared his intention to embark on a six-month sabbatical from the company last Thursday, triggering concerns that external pressures might influence his departure. This decision follows…
- The joint effort of the European Investment Bank and the Central Bank of Kenya has inaugurated a groundbreaking climate finance best practice initiative. This initiative aims to tackle obstacles hindering green financing and foster climate resilience within Kenya’s financial systems. In the…
- Copia Global, the Kenya-based e-commerce and fintech hub, has welcomed John Lazar, former CEO of Microsoft subsidiary Metaswitch, to its board following a successful $20 million funding injection. Enza Capital, LGT, Goodwell Investments, and others played critical roles in the Series C extension…
- Ikpeme Neto of WellaHealth, a Nigerian-based digital health insurance company, secured the African Business Heroes Prize, receiving $300,000 for contributing to creating over 123,000 jobs, both directly and indirectly. Ayman Bazaraa from Sprints (Egypt) secured $150,000, while Thomas Njeru from…
- SA Innovation Summit CEO Buntu Majaja looks back at this year’s successes and quantifies next year’s opportunities. SAIS2023 brought together 2,600 innovators from 26 countries The investment capital in attendance equalled around R30 mbillion Startups are pivoting to or building on AI In the…
- Winshot, a retail tech startup headquartered in Tunisia, has secured funding in the six-figure range to enhance operational efficiency and elevate the consumer experience for brands, retail chains, and franchise leaders. The funding, led by Tunisian VC firm 216 Capital, will empower Winshot to…
- Amidst challenges such as escalating food and fuel costs, currency fluctuations, climate impact, security concerns, political unrest, power shortages, and infrastructure constraints, Africa stands out as one of the world’s fastest-growing emerging economies. Projections suggest a promising…
- Mtor, an Egyptian online marketplace for auto parts, has secured $2.8 million in pre-seed funding, with leading support from Egypt-focused venture capital firm Algebra Ventures. The funding round also saw participation from notable investors such as the Dutch Founders Fund (DFF), Aditum Ventures,…
- Bujeti, the African corporate cards and spend management platform, has successfully secured $2 million in seed funding. The startup, which plays a crucial role in assisting African businesses, ranging from SMBs to startups and enterprises, in effectively managing and navigating their finances,…
- Nigeria recently introduced the Startup Support and Engagement Portal, a pivotal step in implementing the Nigeria Startup Act. Launched in May 2021 by the Nigerian presidency and influential figures in the tech sector, this legislation aims to establish clear guidelines for collaboration among…
- Co-authored by Dr. Nicaise Ndembi, Chief Science Advisor to the Office of the Director General of the Africa CDC & Michael Mynhardt, CEO at MMH & Partners Africa Africa, a continent of immense potential and diversity, has long grappled with complex healthcare challenges. The COVID-19…
- Saviu Ventures has successfully achieved the first closure of Saviu II, its second fund dedicated to Francophone Africa. The fund, backed by private investors and family offices, will enable Saviu to sustain its investments in the region’s most promising entrepreneurs. Co-founded in 2018 by Benoit…
- South African fleet management startup GoMetro has successfully concluded a Series A funding round, securing GBP9 million (US$11.5 million). The funding, led by new investor Zenobē and with significant participation from FutureGrowth Asset Managers, aims to facilitate the digitization of heavy-duty…
- SMEs aren’t immune to the threat of fraud – in fact, they often face equal, if not greater, risks due to tighter budgets and limited resources. It’s vital for these businesses to invest time and money in fraud prevention, as any financial instability could spell the end of their entrepreneurial…
- South Africa is experiencing a surge in cryptocurrency options as it approaches issuing its inaugural operational licenses for financial service providers. Payment and fintech companies are leading this trend, paving the way for commercial banks to likely join. Among recent developments is that…
- In February of the previous year, Kenyan insurtech firm Lami Technologies had initially announced its intent to acquire Bluewave, a fellow startup in the insurance sector. This move aimed to expand Lami’s range of products and facilitate its entry into new African markets. However, recent…
- Adaverse, a pioneering accelerator operating across Africa, the Middle East, and Asia within the Cardano ecosystem, has recently completed a strategic investment in Altify. While the exact investment amount remains undisclosed, this move marks a significant milestone in Adaverse’s mission to…
- Proparco, the French development finance institution, in collaboration with 27four, a South African investment manager, has led a substantial investment of R550 million (28.7 Million USD) into the Divercity Urban Property Group. This investment is accompanied by reinvestment from existing…
- 3Farmate Robotics, an innovative agritech company based in Ghana, has recently received a significant angel investment from a Silicon Valley investor, brokered by Alliance4ai.org, a key player in Africa’s AI sector committed to supporting breakthrough innovations. The exact amount of this…
- By Jacques Jordaan, Co-Founder & CEO at Specno The continent’s largest technology festival, the Africa Tech Festival, recently took place at the Cape Town International Convention Centre. Industry experts at the event focused on Africa’s ability to expand its fintech footprint, the latest in…
- After serving an eight-year term as the governor of Kaduna State, Nasir El-Rufai has revealed his intention to establish a $100 million fund with the goal of expanding startup investments in Nigeria outside of Lagos.. This fund will be managed from Nigeria’s capital city, Abuja, with El-Rufai…
- AfriLabs, one of Africa’s leading tech innovation organizations hosted the 8th edition of its Annual Gathering in Kigali, Rwanda. For the last 8 years, AfriLabs has hosted the Annual Gathering unfailingly to revolutionize the innovation and technology ecosystem, providing support to startups and…
- For 8 consecutive years, AfriLabs has served as an avenue for members of the innovation community to leverage their vast network of African technology and innovation ecosystem through Its Annual Gathering. As a testament to AfriLabs’ effort to reshape the future of African innovation, The AfriLabs…
- Dakar Mobility, a pioneering Senegalese firm co-owned by Meridiam and the Sovereign Strategic Investment Fund of Senegal (FONSIS), has achieved a remarkable milestone by securing €135 million in funding. This investment, the first of its kind in Sub-Saharan Africa, will be used to establish a 100%…
- LeapFrog Investments, a distinguished firm known for merging profit with social purpose, has successfully secured a $500 million investment to advance its bold climate investment initiative in Africa and emerging Asia. This significant funding is provided by Temasek and has received backing from…
- The Cameroonian health tech startup Waspito recently raised an additional $2.5 million seed funding. This round was led by DP World through Newtown Partners, alongside contributions from Saviu Ventures, AAIC Investment, Axian Ventures, and CFAO’s Health54. This funding is aimed at accelerating…
