- In a significant milestone for Mozambique’s digital landscape, Raxio Data Centres has announced the opening of Raxio Mozambique, the country’s first Tier III Uptime Certified data center. Dubbed Raxio MZ1, this state-of-the-art facility is set to play a pivotal role in supporting Mozambique’s…
- Microsoft Corporation and G42 have embarked on a pioneering partnership with the Republic of Kenya’s Ministry of Information, Communications, and the Digital Economy, unveiling a sweeping package of digital investments poised to propel Kenya’s technological landscape forward. This landmark…
- In a significant development for Kenya’s digital and sustainable mobility landscape, the US International Development Finance Corporation (DFC) has unveiled a substantial $250 million financing package. The announcement was made during President William Ruto’s State Visit to Washington in May 2024…
- In a groundbreaking initiative, the Ghanaian government, in collaboration with Radisys Corporation, a subsidiary of Reliance Industries Limited owned by Asia’s richest man, Mukesh Ambani, is set to launch affordable 5G mobile broadband services across the nation by the end of 2024. This ambitious…
- Paystack, a prominent Nigerian fintech company, led an investment group to acquire Brass, a digital bank serving small businesses in Nigeria. The acquisition was completed with the participation of notable investors such as PiggyVest, Ventures Platform, P1 Ventures, and angel investors Olumide…
- Djembe, a renowned consultancy firm specializing in the African and Middle Eastern (MEA) regions, has unveiled a pioneering initiative – ‘Accelerate with Djembe,’ the world’s first communications-focused accelerator program tailored for scaleups operating in the Middle East and Africa. This…
- The dynamic world of cloud computing and cybersecurity took center stage in Kampala, Uganda, as industry leaders, policymakers, and professionals converged for the East Africa Cloud and Cybersecurity Roadshow. Organized for the first time in Uganda by dx5, Africa’s technology driver, and powered by…
- In a strategic move towards profitability, eCommerce giant Jumia has announced plans to consolidate its three Nigerian warehouses into a single 30,000-square-meter depot in Lagos. This initiative, part of the company’s cost-saving strategy, aims to enhance operational efficiency and reduce expenses…
- By Lea-Anne Moses, Executive Director at the Fundza Literacy Trust Teenagers are incredibly odd. Of course, this is hardly a groundbreaking observation—the “otherness” of being not quite an adult but not quite a child either has achieved near-universal meme status across generations. Yet, despite…
- Swypex, an Egyptian startup, has launched its comprehensive financial services platform for businesses after securing $4 million in a seed investment round. This funding round was led by Accel, an international venture capital firm making its inaugural investment in the region’s fintech sector.…
- MNZL, an Egyptian fintech startup, has secured $3.5 million in seed capital to enhance its technology and expand its operations, aiming to empower more Egyptians. The seed round was led by P1 Ventures, Localglobe, and Ingressive Capital, with participation from 500 Global, Flat6Labs, First Circle…
- Axmed, an innovative two-sided B2B marketplace platform, has successfully raised $2 million in a seed funding round. This milestone represents a significant advancement in addressing global health disparities. The funding round was led by Founderful Ventures and brings the total amount secured by…
- Microsoft South Africa is committing R1.3 billion ($70 million) to the South African economy under a 10-year agreement with the Department of Trade, Industry, and Competition (DTIC). According to the tech giant, this investment aims to support the growth of small, micro, and medium-sized…
- Egyptian eFinance Investment Group (EFIG), a digital and financial investment firm, has acquired a 25% stake in NJ and a 13% stake in EasyCash, both based in Egypt. According to the company, these transactions will simplify digital payments for both individuals and businesses, aiding the Central…
- OpenseedVC, a newly established operator-led fund, has officially launched, announcing the first closure of its $10 million angel-style early-stage fund. This fund aims to be the initial investor for experienced operators creating their technology startups across Africa and Europe. Supported by…
- Accion, a global non-profit organization, has introduced the US$152.5 million Accion Digital Transformation Fund (ADTx). This initiative is designed to support financial institutions in addressing the needs of small businesses currently excluded from the financial system by offering growth capital…
- Microsoft and G42, an AI firm based in the United Arab Emirates, have announced plans for digital investments in Kenya. This initiative is in collaboration with Kenya’s Ministry of Information, Communications, and Digital Economy. Microsoft stated that G42 would spearhead the effort to secure an…
- Busbud, an international platform for booking ground travel, has acquired Ratality, a South African company specializing in revenue management optimization software for ground travel operators. This acquisition is anticipated to enable Busbud to expand its value proposition by incorporating revenue…
- Lawyers in the Democratic Republic of Congo have announced the discovery of new evidence, following a month after they accused Apple of using “illegally exploited” minerals from the conflict-ridden east of the country in its products. Amsterdam & Partners LLP revealed that several…
- LaunchBase, an innovative marketing and property technology (prop-tech) startup, has developed cutting-edge software. This propTech enables off-plan property developments to be showcased online for public review. Introducing LaunchBase Proptech: About LaunchBase Brad Morgan and Dean Lederle…
- Enviro Automotive is set to introduce the most budget-friendly electric vehicle to hit the South African market yet. Hailing from China, the Dayun Yuehu will be rebranded as the Dayun S5 Mini SUV upon its launch in South Africa by the end of 2024. This compact SUV, accommodating four passengers,…
- Copia Global, a Kenyan B2C e-commerce startup, has raised $123 million in venture funding across seven rounds but is now considering laying off employees or shutting down due to “uncertainties.” CEO Tim Steel, in an internal memo seen by TechCabal, highlighted the possibility of reducing the…
- Maad, a B2B e-commerce startup from Senegal, has surpassed challenges in the African B2B e-commerce landscape by securing a notable $3.2 million in seed funding. This financing, comprising debt and equity, will drive Maad’s growth efforts in Senegal and facilitate its exploration of potential…
- Flutterwave, a leading Nigerian fintech company, experienced a significant breach in April 2024, reportedly losing ₦11 billion ($27 million). This incident follows closely on the heels of the company’s successful court order to reclaim $24 million lost in unauthorized Point-of-Sale transactions,…
- Zimbabwe’s financial landscape is undergoing a transformation as mobile money agents, previously criticized for contributing to the collapse of the Zimbabwean dollar, are making a significant return. This revival is driven by authorities who, after banning their operations, are now relying on them…
- African e-commerce giant Jumia is betting on Nigeria despite the country’s economic challenges, aiming to steer itself toward profitability. Francis Dufay, CEO of the Nasdaq-listed company, outlined plans to streamline operations in Nigeria by consolidating its three warehouses into a single,…
- Exclusive Networks Africa, a cybersecurity specialist, has reached a significant milestone in its market development journey in Africa, highlighted by the official opening of its new office in Lagos, Nigeria. This achievement reflects the company’s steadfast commitment to investing in the region…
- Bokra will support a variety of financial goals and enable retail and SME investors to easily save and invest across different asset classes. To assist merchants and SMEs in managing their wealth, Bokra’s team is tackling several challenges, such as the lack of personalized investment planning,…
- Bluworks, an Egyptian startup, has secured $1 million in a pre-seed investment round aimed at bolstering product development, team expansion, and marketing efforts. The company specializes in creating SaaS solutions for blue-collar HR-Tech. The pre-seed investment round was led by Khawarizmi…
- In South Africa, where mobile connectivity serves as a vital link for communication and commerce, understanding the intricacies of mobile spending habits is essential for telcos, banks and retailers to effectively meet their customers’ needs. With the smartphone market rapidly expanding to 46.9…
- Telecommunications companies in Kenya and Uganda recently experienced widespread internet outages after two submarine cables connecting South Africa and Kenya were damaged. The cables, owned by Eastern Africa Submarine System (EASSy) and Seacom, suffered faults that disrupted network services for…
- Music streaming giant Spotify has revealed that it paid over N25 billion in streaming royalties to Nigerian artists in 2023. This figure, disclosed in Spotify’s annual “Loud & Clear” report focused on the Nigerian market, represents more than a doubling of the over N11 billion paid out to…
- The Nigerian Communications Commission (NCC) has entered into a Memorandum of Understanding(MoU) with Nokia Solutions and Networks Nigeria to provide training for young Nigerians on the latest 4G and 5G radio and transmission technologies. This was disclosed by the Executive Vice Chairman of the…
- A new partnership between the Next Step Foundation and the Assistive Technologies for Disability Trust (AT4D) aims to overcome key obstacles impeding the ethical development and adoption of artificial intelligence (AI) to drive sustainable development in the global south. By addressing gaps in data…
- OmniRetail, a Nigerian eCommerce startup founded in 2019, has been ranked as the fastest-growing company in Africa according to the Financial Times’ latest annual list. The list, compiled in partnership with data provider Statista, ranks companies by their compound annual revenue growth between…
- In a move to accelerate its compliance process, the cryptocurrency exchange KuCoin has temporarily suspended all peer-to-peer (P2P) Nigerian Naira (NGN) services and Fast Buy services using naira cards on its platform. The exchange cited its commitment to enhancing compliance as the driving force…
- The African continent, rich in resources and human capital, remains woefully underprepared for the next global pandemic. Most African states were left scrambling for access to life-saving vaccines following the outbreak of COVID-19 as the continent does not produce or manufacture its own healthcare…
- Djibouti has embarked on an ambitious initiative to digitize its public services, aiming to fully capitalize on the digital economy’s benefits. The Djiboutian government recently announced the upcoming launch of two new digital services: e-Cabinet and e-Building Permit. These initiatives, unveiled…
- In the past week, there have been conflicting reports predicting OpenAI’s plans. Some suggested they might announce an AI search engine to rival Google and Perplexity, while others speculated about a voice assistant integrated into GPT-4 or the launch of GPT-5 ahead of the Google IO event. However…
- As African nations increasingly embrace digitalization to foster economic growth, international collaborations become crucial for achieving this objective. These initiatives also help bridge the gap between African and global tech hubs, ensuring the continent remains competitive in the global…
- There’s a blend of mythology and mystery as gaming developers delve into Africa’s rich history, weaving stories that span centuries. The African gaming market is on the brink of global recognition as studios challenge Western norms with a mix of mythology, mystery, and inclusivity. In Nigeria,…
- At the IEA Summit for Clean Cooking in Africa today, EcoSafi, a leading provider of high-quality clean cookstoves and sustainable biofuels, made a significant announcement in their climate change efforts with the introduction of the EcoSafi BetterStove. This innovative product has also achieved the…
- AFEX, Pan African Commodities Player, Ranks 5th on 2024 Fastest Growing Companies in Africa List. Lagos, Nigeria. 14 May 2024, AFEX, Africa’s leading commodities market player, announced that it has secured a place in the Financial Times (FT) ranking of Africa’s Fastest-Growing Companies in 2024.…
- BuuPass, a Kenyan mobility startup, has acquired QuickBus with plans to extend its operations into Nigeria and South Africa. BuuPass, established in 2016, operates as a B2B2C travel marketplace, enabling users to search, compare, and book tickets through USSD, mobile app, or web platforms. With…
- If you’ve been toggling your router on and off to troubleshoot your Wi-Fi issues, don’t fret. The problem isn’t with your ISP. According to Ben Roberts, Group CTIO at Liquid Intelligent Technologies, the Internet connection in East Africa is experiencing severe impairment. He stated that all sub-…
- MTN Rwandacell PLC (MTN Rwanda) has introduced the country’s first paper-based biodegradable SIM cards, underlining our dedication to environmental protection and sustainable business practices. This initiative complements our existing eSIM offering. Globally, 430 million tonnes of plastics are…
- Waffarha, an Egyptian group-buying platform, has secured a significant seed funding round in the seven-figure range. The investment will be allocated towards bolstering the company’s technology infrastructure, attracting top talent, and expanding its operations beyond the borders of Saudi Arabia.…
- Amazon has officially rolled out its online shopping platform in South Africa, coinciding with a surge in online sales driven by the pandemic. This move aligns with previous research indicating Amazon’s strategic interest in leveraging South Africa’s economy as a gateway to expand its presence…
- Renew Capital has recently invested in Farm to Feed, a Kenyan agri-tech startup, to support its expansion efforts. Farm to Feed operates a business-to-business platform aimed at repurposing surplus agricultural products. Founded in 2020, the company seeks to combat food waste by creating a market…
- Renda has successfully closed its pre-seed funding round, securing $1.9 million through a combination of equity and debt financing. The round was led by Ingressive Capital, which invested $1.3 million in equity. Additional equity participants included Techstars Toronto, Founders Factory Africa,…
