Tech In Africa

27 Oct 2023 - South Korea is seeking graphite from African nations as China increases export restrictions on this vital component for electric vehicle batteries. According to a statement from South Korea’s trade ministry on Monday, the country is focusing on Mozambique and Tanzania to mitigate potential deficits…

27 Oct 2023 - In 2022, investors in South African venture capital saw $17 million in returns from exits, achieving a 3x return. However, the number of deals incurring losses still exceeded those yielding returns. According to the Southern Africa Venture Capital Association (SAVCA) 2023 survey, exits in the South…

27 Oct 2023 - The Digital Nigeria Conference, spearheaded by the National Information Technology Development Agency (NITDA), kicked off its 2023 edition in Abuja on Tuesday. The focus of the event’s opening day was primarily on how Nigeria can leverage emerging technologies for further advancement. Keynote…

27 Oct 2023 - The South African mobility startup WhereIsMyTransport is ceasing its operations due to difficulties in securing additional funding. Established by Devin De Fries in 2016, the company successfully secured over $27 million in investments and employed 140 people. Devin De Fries stated, “Having failed…

27 Oct 2023 - The current prolonged downturn in the cryptocurrency market has negatively impacted numerous crypto startups, even those with significant funding. Many of these startups are now facing the tough decision to downsize or cease operations altogether due to these adverse market conditions. One recent…

27 Oct 2023 - In Nigeria, only 35% of women have access to financial services compared to 48% of men. However, fintech startup HerVest is driving financial inclusion for female farmers who remain largely unbanked. HerVest provides a peer-to-peer lending platform where female farmers can access credit and…

27 Oct 2023 - Clean energy company Husk Power Systems has secured $103 million in a Series D round, including $43 million in equity and $60 million in debt financing. The company will use the funds to accelerate the deployment of solar mini-grids providing electricity access across Africa and Asia. Since 2008,…

27 Oct 2023 - Impact investment firm LeapFrog Investments plans to raise $1 billion for a new fund to back financial services and healthcare companies in emerging markets like Africa. The new Emerging Consumer Fund IV has already secured commitments from major backers like the European Investment Bank ($60…

27 Oct 2023 - Kenyan conversational commerce startup Sukhiba Connect aims to power seamless buying and selling through WhatsApp as social commerce booms across Africa. The continent’s social commerce market is rapidly expanding as businesses leverage platforms like WhatsApp. However, limitations exist around…

27 Oct 2023 - Nigerian fintech startup Vella Finance is ceasing all cryptocurrency services to become a digital bank for small and medium-sized enterprises (SMEs). In an email on Monday, Vella announced it will shut down its crypto trading, deposits, wallets and other offerings on October 30th. The move comes…

26 Oct 2023 - Recent shutdowns of well-funded African startups like Ghana’s Dash fintech have sparked debate on whether unrealistic expectations from venture capitalists contribute to such collapses. Dash raised $86.1 million but suddenly closed shop despite claiming rapid user growth. This pattern of overvalued…

26 Oct 2023 - Sony Group recently announced a $10 million fund focused on growing Africa’s entertainment tech startups. As a global leader in gaming, music, movies and content distribution, Sony’s investment represents a major opportunity for Nigeria’s burgeoning entertainment sectors. The Sony Innovation Fund:…

26 Oct 2023 - Airtel Africa has collaborated with the Rwandan government to introduce the country’s most affordable 4G smartphone as part of the ConnectRwanda initiative. The goal is to provide over one million Rwandans high-speed internet access by 2024. Priced at 20,000 Rwandan Francs (approximately $16.50),…

26 Oct 2023 - South African startup Adbot has partnered with leading Nigerian telecom MTN to bring its AI-powered ad management platform to small businesses in the country. This marks Adbot’s first expansion outside South Africa. Adbot offers automated tools to help SMEs easily create and optimise online ad…

26 Oct 2023 - A Nigerian company called Possible EVS plans to open electric vehicle assembly plants in the country, with a goal of producing up to 10,000 EVs per year. This aligns with the company’s mission to spearhead electric vehicle adoption in Nigeria. Based in Abuja, Possible EVS is an electric mobility…

26 Oct 2023 - The upcoming Global Startup Award (GSA) Africa Summit, scheduled from 25 – 27 October 2023 at the Ethiopia Arts & Science Museum in Addis Ababa, is a monumental occasion for Ethiopia, a potential-laden country, signalling a significant milestone in the country’s entrepreneurial journey. As we…

26 Oct 2023 - Today marks a significant milestone for Specno as we celebrate our 5th birthday. Over the last 5 years, Specno has completely transformed the digital industry in South Africa, by offering businesses and startups access to world-class solutions in tech and innovation. In the last 5 years, Specno has…

24 Oct 2023 - The global payments arena is undergoing significant transformation, marked by disruption and novel innovations. Driven by technological advancements, there’s been a notable transition from conventional cash-based transactions to modern digital payment methods. In this wave of change, Africa is…

24 Oct 2023 - Banque Misr, one of Egypt’s largest banks and a leader in electronic payment solutions, has partnered with Etisalat Misr to introduce SuperPay, an advanced electronic payment technology company. This collaboration between Banque Misr, a prominent financial institution, and Etisalat, a…

24 Oct 2023 - BayWa r.e. Energy Ventures, the investment arm connected to BayWa r.e. ‘s VC subsidiary, has spearheaded a financing round that garnered 1.25 million Euros (equivalent to $1.3M) for Circadian, a Berlin and Africa-oriented energy startup. The purpose of this strategic capital infusion is to…

24 Oct 2023 - The CEO highlighted the existing shortcomings in Sub-Saharan Africa’s financial infrastructure, indicating that only 17% of the populace can access mobile financial services. At the same time, the rest remain excluded from formal financial systems. Ogunsanya observed that even among those with…

21 Oct 2023 - Egyptian deep tech startup Intella has successfully concluded a pre-Series A funding round, securing an impressive $3.4 million. This substantial investment will play a pivotal role in supporting Intella’s expansion into the Saudi market and facilitating the development of tailored, end-to-end AI…

21 Oct 2023 - Kippa, the Nigerian fintech startup, has officially announced its forthcoming discontinuation of its offline payment solution, KippaPay, effective from November 15, 2023. This strategic decision also entails the eventual departure of the core team responsible for managing this product, which will…

21 Oct 2023 - Crafty Workshop, an Egyptian startup within the education technology sector, has achieved a successful $400,000 seed funding round. Leading this funding endeavor is EdVentures, the region’s inaugural corporate venture capital firm dedicated to educational technology. Founded in 2019 by Hadeer…

21 Oct 2023 - Mediterrania Capital Partners, a renowned Private Equity firm with a specialization in fostering growth for Small and Medium Enterprises (SMEs) and mid-cap companies across the North Africa and Sub-Saharan regions, is delighted to announce a substantial €57 million ($60M) investment in CASH PLUS, a…

21 Oct 2023 - Starlink, the satellite internet service owned by SpaceX and currently serving over 2 million customers across 60 countries, is expanding its horizons by bringing its connectivity directly to mobile phones. satellite arena, positioning itself to challenge Starlink in the years ahead. This scenario…

20 Oct 2023 - Stitch, a South African fintech startup, has announced a substantial US$25 million extension to its Series A round, with Ribbit Capital leading the investment. This infusion of capital will be dedicated to the expansion of its comprehensive payment solutions and the venture’s entry into fresh…

20 Oct 2023 - After witnessing substantial success in its operations and user engagement, Nigerian crypto venture Coinazer is venturing into the Brazilian market. Established in April 2022, Coinazer proudly serves a community of 5,000 users and has overseen transactions totalling a noteworthy $3.8 million.…

18 Oct 2023 - Amenli, an Egyptian insurtech startup, recently secured a significant equity funding round of $1 million to expand its team, enhance its product offerings, and strengthen its brand presence. Established in 2020 by Adham Nauman, Omar Ezz El Din, and Shady Elohfa, Amenli delivers comprehensive…

18 Oct 2023 - Sanari Capital, a majority black and female-owned private equity firm based in South Africa, has successfully secured $65 million for its growth fund. The primary goal of this fund is to stimulate job creation and foster economic development across the African continent. Sanari Capital invests in…

17 Oct 2023 - IFC, the International Finance Corporation, has committed a $50 million equity investment to support fast-growing health and financial services companies across Africa, South Asia, and Southeast Asia. This investment is channeled through a new fund managed by LeapFrog Investments, a prominent…

17 Oct 2023 - WATT Renewable Corporation (WATT), based in Nigeria, has successfully secured funding of US$13 million to enhance its operations as an autonomous provider of hybrid solar systems. Empower New Energy, a firm that operates as a lender and co-developer in the renewable energy sector, generously…

12 Oct 2023 - Leading African payments company, Flutterwave has entered a 5-year technology collaboration with Microsoft to build an upgraded platform on Microsoft Azure. The goal is to accelerate payment innovation and small business growth across Africa. Small and medium enterprises (SMEs) are crucial for…

11 Oct 2023 - Telecel Group, the majority owner of Vodafone Ghana, has added 300 new 4G sites across Ghana’s regions. This network expansion highlights Telecel’s growth strategy since acquiring 70% of Vodafone Ghana earlier this year. In February 2023, Telecel purchased Vodafone’s Ghana operations for an…

11 Oct 2023 - Microsoft has partnered with Terragon, an African marketing technology company, to empower businesses with data-driven customer insights. The 3-year collaboration will see Terragon utilise Microsoft’s cloud platforms to boost its marketing offerings. Nigeria-based Terragon leverages data and…

11 Oct 2023 - Google has announced the first 11 African startups chosen for its new “Google for Startups Accelerator: AI First” program. The 10-week program aims to empower emerging innovators leveraging AI across Africa. Google’s significant investment highlights its commitment to strengthening AI’s…

11 Oct 2023 - The 2nd annual Women in Tech (WiT) Africa Awards recently recognized outstanding female leaders in technology across the continent. Absa co-hosted the event at Cape Town’s Mount Nelson Hotel on October 5th, 2023. The awards honored individuals making remarkable contributions to Africa’s tech…

11 Oct 2023 - Ingryd Academy, a leading Nigerian tech talent training and outsourcing organisation, has unveiled its first cohort of 1,000 students in its new Scholarship Program. The program aims to tackle Africa’s tech talent shortage by training 4,000 professionals annually in skills like cybersecurity, data…

11 Oct 2023 - Netflix is set to discontinue its free streaming offer in Kenya starting November 1st, 2023. The move comes as the platform faces mounting competition in Africa’s expanding streaming market. In 2021, Netflix launched a free service option for Kenyan subscribers to capitalise on the country’s…

11 Oct 2023 - Stitch, a South African fintech startup, has secured $25 million in an extension of its Series A funding round to expand its open banking payment solutions. The round was led by global fintech investor Ribbit Capital, with existing investors like PayPal Ventures also participating. The Cape Town-…

11 Oct 2023 - SpaceX has expanded its Starlink satellite internet service to Zambia, making it the sixth African country where the network is active. Starlink tweeted confirmation of its launch in Zambia last week, with the country newly listed as “available” on its online coverage map. Zambian President…

11 Oct 2023 - Stears, a leading Nigerian data and intelligence company, is shifting from consumer-facing data to organization-focused intelligence solutions. Since launching in 2017, Stears has become an authoritative source on Nigerian data and analysis. However, based on user feedback, the company will now…

11 Oct 2023 - The South African National Taxi Council (SANTACO), the country’s largest public transport association, is entering the ride-hailing market it once fiercely opposed. SANTACO-registered metered taxi drivers can now offer e-hailing services through platforms like Shuma Yo!Taxi, and Teksi Ride. SANTACO…

11 Oct 2023 - Paystack, a leading Nigerian fintech, is expanding into offline payments with the launch of virtual terminals for in-person bank transfers. This allows merchants to accept direct bank payments from customers without physical point-of-sale (POS) devices. Paystack is seizing on the rapid adoption of…

11 Oct 2023 - Baobab Network, an African tech startup investor, has announced plans to invest in 1,000 African companies over the next decade. Underscoring this goal is the launch of a $100,000 investment fund for early-stage startups on the continent. Founded in 2016, Baobab Network has been building a strong…

11 Oct 2023 - October has been tagged as “Techtober” due to the many tech product launches and events that traditionally happen during the month. This October is no different in Africa, with various conferences, summits, and exhibitions taking place across the continent. These events highlight Africa’s growing…

11 Oct 2023 - Bank Zero, a South African digital bank, has expanded into commercial banking by launching a business banking app. The app-based bank aims to disrupt traditional banks with its zero monthly fee model. Founded in 2018, Bank Zero entered the South African market in 2021 as a tech-driven alternative…

11 Oct 2023 - Microsoft has partnered with leading African fintech company M-Pesa to provide digital skills training for micro, small and medium-sized enterprises (MSMEs) across the continent. The collaboration aims to boost the capacity and digitisation of African small businesses in Kenya, Lesotho, Mozambique…

10 Oct 2023 - In the era of evolving mobility, the pursuit of a competitive onboarding process is undergoing a significant shift. 3 out of 4 millennials are ready to switch banks for a better mobile onboarding experience, and Gen Xers are increasingly leaning towards digital methods for opening bank accounts.…

10 Oct 2023 - Emerging victorious from nearly 1,500 competitors, Cameroonian fintech Koree clinched the top prize at the Ecobank Fintech Challenge. The company secured $50,000 in non-dilutive funding, outperforming eight finalists. Wolf Technologies from the Democratic Republic of Congo came in second with $10,…