- Telecoms giant MTN Nigeria has raised 125 billion ($302 million) through a commercial paper issuance to meet its short-term working capital and funding needs. As part of MTN Nigeria’s plan to issue 150 billion worth of commercial paper, the company sold a 188-day commercial paper with an 11% yield…
- According to a report by Semafor, which cites sources familiar with the matter, Nigeria’s leading fintech startups are reportedly working together on a strategy to combat fraudulent transactions in their networks. This strategy includes the development of a shared registry of individuals who are…
- Osun state in Nigeria has officially abolished right-of-way fees, allowing telecom and internet service providers to lay fibre optic cables for free. Osun State Governor Ademola Adeleke announced today the cancellation of ROW fees as part of a digital economy policy. The state thinks that getting…
- The Central Bank of Nigeria (CBN) has approved the rules for open banking. This means that Nigeria will now have an open banking regime. With this rule, Nigeria is the first African country to have an Open Banking rule. Musa Jimoh, in charge of the CBN’s Payments System Management Department, sent…
- Villgro Africa has put more than $1.36 million into 36 Kenyan healthcare startups in the last seven years. As part of its plans to grow in the region, the company plans to open a Biotech Innovation Hub. The incubator and impact investor announced these plans at the annual 2023 Sankalp Summit, where…
- The International Finance Corporation (IFC) and Viva Technology have announced the second edition of the AfricaTech Awards. This is an effort to bring attention to Africa-based companies that have devised innovative ways to solve critical development problems related to climate change, healthcare…
- NTT, a major IT company that provides infrastructure, and IT services with a branch in South Africa has come to announce its Partnership with Cisco, a global technological brand to push for the adoption of Private 5G across different sectors including; Healthcare, Automotive, Logistics, and Retail…
- Liquid Intelligent Technologies, a leading fibre company in Africa has recently announced an alliance with Microsoft which fulfills Microsoft’s Airband initiative of increasing its connectivity to accommodate 20 million people from African Countries like Zambia and the Democratic Republic of Congo…
- Digital technology is rapidly changing many sectors in Africa and in the world and the Sudanese media industry is not left out. With the surging inflation and depreciation in currency posing a challenge to the nation’s economy, news readers are rapidly turning to their mobile phones to stay…
- Meta’s WhatsApp rolls in a new feature in its recent update after noting the high increase in voice messages daily. According to Meta, WhatsApp Users send 7 billion voice messages daily thus inspiring this latest addition. After its beta testing in January, the WhatsApp voice status function has…
- Different African Countries like Nigeria, Liberia, Sudan, Chad, Zimbabwe, Sierra Leone, and DR Congo are headed for an election in 2023. However, with the increasing wave of falsified news across social media platforms, it can affect the integrity of the elections which is where fact-checking comes…
- Envisionit Deep AI, a South African health tech startup that uses artificial intelligence (AI) to improve diagnostic imaging accessibility and quality, has received $1.65 million in funding from New GX Ventures SA. Dr. Jaishree Naidoo, Terence Naidu, and Andrei Migatchev started Envisionit Deep AI…
- group of venture capital funds, including Breega and INCO Ventures, gave the Guinean fintech startup YMO €3 million ($3.2 million) in seed funding. The investment is one of the most significant amounts a Guinean startup has ever gotten. Abdoulaye Barry started YMO in 2019 and, at first, offered an…
- Guardrisk, a South African cell captive insurance company, is looking for innovative insurtech companies to help with its US$2.8 million LAUNCHPAD project. Guardrisk, a subsidiary of Momentum Metropolitan, says that the goal of the effort is to use the power of its tech-enabled ecosystem to make it…
- TechInAfrica – Fawry, Egypt’s leading e-payments solutions and banking services provider and one of the largest Fintech companies in the country, has just announced its latest partnership with all-in-one restaurant management system Syrve to enable seamless payments and automated checkouts to the F…
- TechInAfrica – The UAE’s Ultra app, BOTIM, that Astra Tech has recently acquired, and Fawry, Egypt’s leading digital payments platform, have signed a groundbreaking agreement to provide residents in the UAE and GCC countries with a seamless and convenient way to pay bills & invoices in Egypt…
- Cisco, a world leader in technology, and NTT Ltd., a global leader in IT infrastructure and services and the parent company of Dimension Data, have said they will work together to help the Automotive, Logistics, Healthcare, Retail, and Public sectors adopt Private 5G. NTT and Cisco plan to work…
- South African chemicals and energy company Sasol has announced the launch of Sasol Ventures. This venture capital fund will invest in start-ups and early-stage technologies to help the company reach its decarbonization and net-zero goals. The fund will focus its investments on environmentally…
- Fintech startup Amwal, based in the Middle East, has raised $2.5 million in a pre-seed funding round led by Shorooq Partners, Outliers Venture Capital, and several angel investors. The company wants to change how money is verified worldwide by putting device identification, fraud prevention, and…
- The first Africa Digital Finance Summit will be held from May 24 to May 26 at the Sandston convention center in South Africa. The theme of the three-day conference is “The Future of Finance in Africa: Our Path to a New Africa. At the Summit, there will be a thought-leadership conference with…
- Kenyan Assets Recovery Agency (ARA) has dropped money laundering charges against Flutterwave, an African fintech unicorn. This means that KSh6.6 billion (about $51 million) frozen in the company’s account seven months ago can now be released. CEO Olugbenga Agboola had been trying to access the…
- The Startup Act 2.0 project will debut in Tunisia. An updated version of the Startup Act project that offers more ways to emphasize the startup environment. A few months ago, the Ministry of Communication Technologies, the Ministry of Economy, the Ministry of Vocational Training and Employment, the…
- Solar mini-grids can bring high-quality, renewable electricity to villages and communities in Sub-Saharan Africa that don’t have access to it. This is the least expensive way to close the energy access gap on the continent by 2030. Solar mini-grids are better for reducing greenhouse gas emissions…
- Envisionit Deep AI is now ready to grow thanks to a $1.65 million investment from New GX Ventures SA. This company is a partnership between New GX Capital, RMB Ventures, and GIIG Africa. This happened after the company was chosen as the winner of the African Startup Awards for the Southern Africa…
- According to a report by Africa: The Big Deal, Northern Africa got $1.1 billion, which was 23% of all the startup funding raised on the continent in 2022. This made it tied with Eastern Africa for third place on the continent. Egypt dominated the region, accounting for three-quarters of all startup…
- On February 22, Orange Morocco opened its first Orange Fab in Casablanca. It is a startup accelerator and the third part of Orange Digital Center Morocco. By opening its first Orange Fab in Morocco, the operator hopes to add to the startup scene’s positive energy there. The main goal of the new…
- Startup Wise Guys, a VC and accelerator firm, has closed the first $26.7 million of the US$48 million that will be used to support its new strategy that focuses on international regions that are currently underserved by capital investment. Startup Wise Guys is an organization that was started in…
- The AfricaGoGreen Fund (AGGF) made headlines today when it announced that its second fundraising round was a success. It raised $47 million from the International Finance Corporation (IFC), the African Development Bank (AfDB), the Nordic Development Fund (NDF), and the Sustainable Energy Fund for…
- On Monday, February 20, 2023, the European Union Delegation in Rwanda, the Embassies of EU Member States, and their agencies took part in Ride Rwanda 2023. This four-day cycling event was part of the annual Tour du Rwanda cycling event. In the first stages of the race, between Kigali and Rwamagana…
- Hollydesk, an Egyptian fintech company, has gotten $1 million in venture debt funding to grow its expense management platform for small and medium-sized businesses in Egypt. The platform has a set of tools for keeping track of and managing expenses, automating workflows for approval, and making…
- The National Bank of Rwanda (NBR) has told all of the country’s banks to stop doing anything with cryptocurrencies until a regulatory framework is established. Soraya Hakuziyaremye, the acting governor of the NBR, wrote a letter to managing directors and CEOs of financial institutions to defend the…
- TechInAfrica – MSI, a world leader in gaming hardware and innovative business solutions in over 120 countries, is expanding on its success in Egypt by partnering with Egypt’s fintech leader ‘Fawry’ to facilitate payment for businesses and consumers. Besides their super-performing gaming laptops,…
- Dash, a fintech company in Africa that offers a unified payments system for mobile money and traditional bank accounts, has suspended its founder and CEO, Prince Boakye Boampong, pending an investigation into possible financial wrongdoing, TechCrunch reports, citing sources familiar with the…
- LAfrica’s biggest innovation hub, Co-Creation Hub (CcHUB), has started “The Edtech Fellowship Program,” a $15 million accelerator program. A statement from the company says that it will back and help 72 startups in Nigeria and Kenya for the next three years. The program’s goal is to increase the…
- Blockfinex, a cryptocurrency exchange based in Barbados and Seychelles, has bought a 100% stake in the Nigerian cryptocurrency payment gateway startup Fluidcoins. The deal is said to be Nigeria’s first acquisition of 2023 and the country’s first in the crypto ecosystem. The founding team of…
- In a seed funding round, the Kenyan construction tech startup Jumba raised $4.5 million to grow its one-stop marketplace for buying building materials. The B2B platform makes the supply chain easier by letting stores that sell building materials restock and letting real estate developers get the…
- The AfricaGoGreen Fund (AGGF) made headlines today when it announced that its second fundraising round was a success. It raised $47 million from the International Finance Corporation (IFC), the African Development Bank (AfDB), the Nordic Development Fund (NDF), and the Sustainable Energy Fund for…
- TechInAfrica – Fawry, the leading company in the field of banking technology and electronic payments, celebrated the signing of a cooperation agreement with My Fatoorah, the leading provider of online payment services in the GCC region, in order to provide FawryPay reference code service for My…
- Paula Ingabire, the minister of ICT and innovation, says that because of the money from the World Bank and China’s Exim Bank, nearly 3,000 schools without internet will have it by 2024.Ingabire told the Chamber of Deputies about this information last week when he answered questions about the ICT…
- In partnership with Intercap Capital Investment Bank, a group of angel investors from the United Arab Emirates and Qatar gave Mobile Masr a seed round of $500,000. The startup plans to use the money to grow its operations and move into new business categories and verticals. Wael El Ashry opened…
- Nigerian mobility startup Treepz (formerly Plentywaka) began business in Kenya after getting $1.2 million in strategic investments over the last year. It debuted in Uganda and Ghana just over a year ago. Now, it will do business in another country in East Africa. Treepz is currently in Nigeria,…
- MTN Group, Africa’s biggest mobile phone company, says it will invest $1 billion in Ghana over the next five years.The move comes after the Ghana Revenue Authority said the company’s Ghanaian unit didn’t have to pay $773 million in taxes because it only reported some of its income between 2014 and…
- EziPay, a digital wallet and intra-African cross-border remittance company has teamed up with MFS Africa, the leading digital payments gateway on the continent. The agreement, which comes at a time when mobile money is booming on the continent, with businesses and individuals seeking solutions for…
- Smile Identity, a Nairobi-based identity verification company, has raised $20 million in a Series B fundraising round headed by Norrsken22 and Costanoa Ventures. Smile Identity specializes in identity verification and KYC compliance and employs a portfolio of tools to assist clients in avoiding…
- As part of its Coding for Employment program, the African Development Bank opened a second Information and Communications Technology Center of Excellence at the United States International University-Africa in Nairobi. Its goal is to help African youth become more competitive in the local and…
- Power, a Kenyan fintech company, got $3 million in seed funding from a round led by DOB Equity. It plans to grow its services in Kenya and enter Zambia. Power was started in 2020 by Brian Dempsey and Chandra Singh. It gives partner employees access to financial tools like short-term and long-term…
- Algeria says that hackers attacked the official Algerian News Agency website from Morocco and the Zionist regime. Its state television says hackers tried to hack into the website for hours by launching a series of serious cyberattacks.A reliable source said the attacks were planned in Israel,…
- According to Africa: The Big Deal, nearly 1,500 investors have done at least one deal in Africa in the past couple of years. This does not include angel investors. However, some investors have helped the African startup ecosystem grow in a very different way over the past two years (2021–2022).…
- In a series B funding round, Naked, a South African insurtech startup that offers fully digital, AI-powered insurance for homes, cars, and valuables, has raised $17 million. The goal of Naked is to make insurance more accessible, easy, and straightforward by using AI, digital experiences, and its…
- TechInAfrica – Orange Egypt has signed a partnership agreement with Fawry, the leading provider of e-payments and digital finance solutions in Egypt, to enhance digital payment services and expand the features of Orange Cash wallet. The collaboration strengthens Orange Cash’s position as Egypt’s…
