- Kenyan B2B2C full-stack marketplace for public transportation BuuPass wants to grow its market share in East Africa, especially in Kenya and Uganda. Sonia Kabra and Wycliffe Omondi started the business seven years ago. They met in 2013 at Earlham College in Richmond, Indiana. They have just…
- The International Data Corporation (IDC) says that Africa’s smartphone market will be 18% smaller in 2022 than in 2021. Egypt and Tunisia had the biggest year-over-year drops, at 63% and 33%, respectively. This significant drop was caused by people spending less money because of inflation and…
- Terraa, a Moroccan B2B food distribution platform that uses technology, has raised $1.5 million in pre-seed funding. FoodLabs, an early-stage European VC investor and venture studio for food, sustainability, and health, led the round. In Morocco, the fresh food market is still fragmented and…
- SC Ventures, Standard Chartered’s innovation, fintech investment, and ventures arm, has signed a Memorandum of Understanding (MOU) with Yabx. This Netherlands-based fintech aims to make it easier for MSMe in emerging markets to access financial services and ensure that everyone in Africa has access…
- Curacel, a Nigerian insurtech platform, has raised $3 million in seed capital to extend its insurance technology offering in emerging markets. The platform intends to enhance insurance penetration through APIs and connect insurers with digital distribution channels. Curacel’s services help…
- Qotto, a Burkina Faso and Benin-based solar kit provider, has secured $8 million in a Series A equity-debt transaction sponsored by the IBL Group, a billion-dollar Mauritius-based conglomerate. Qotto, founded in 2016, uses a pay-to-own approach to supply stand-alone solar kits and lamps to persons…
- Do you have a new idea that helps farmers and other people involved in agriculture in low- and middle-income countries build the skills they need to deal with climate change? The Agricultural Innovation for Climate Resilience Program (AICR), which is a partnership between the World Food Programme…
- Fastagger Inc, a Kenya-based AI and blockchain business, recently announced an undisclosed investment from global blockchain investor CV VC. Fastagger plans to extend its “cutting-edge technology skills” in AI and blockchain, according to Mutembei Kariuki, the startup’s CEO. In a Kenyan Wallstreet…
- Would you like to know more about data science? This is your chance to learn Python online and then use what you’ve learned to win $5,000. You could use the money to pay for more schooling, buy equipment and software, or fund educational projects. The applications for the DataCamp Everyone Can…
- Jendaya, an e-commerce startup that has been operational for a year, has raised £1 million ($1.2 million) in pre-seed capital and began with the goal of consolidating cross-border commerce between African and worldwide luxury companies. The platform connects luxury brands from Africa and the…
- When I get rich, I’ll buy a house.” This rationale exists in most Africans’ minds, the majority of whom have associated property investing with having a lot of cash lying about. It’s hard to blame them, though. Mortgages don’t work well in this part of the world, and owning or investing in real…
- The COVID-19 pandemic has changed how companies find and hire top talent in a big way. Traditional ways of looking for candidates through applicant tracking systems (ATS) are no longer enough to keep up with the shift toward remote work. This is where PeakU comes in. Santiago González and Juan…
- PressOne Africa, a firm that creates business phone systems for entrepreneurs, has raised $600,000 in a pre-seed round led by Ventures Platform, with participation from Voltron Capital and a slew of excellent angel investors. Mayowa Okegbenle and Opeyemi Shokunbi started PressOne. It lets business…
- Bamboo Systems Technology Limited (“Bamboo”), an online broker in Africa, said that the Nigerian Securities & Exchange Commission had given it a digital sub-broker license (SEC). The firm can now sell Nigerian securities on its platform and work in the Nigerian capital market. By giving Bamboo…
- GlossAi, which made an AI-driven video generator that lets organizations quickly create content for multiple audiences at scale using generative AI, has announced that its $8 million seed round was successful. The funding round was led by New Era Capital Partners and included contributions from…
- The global venture capital firm Partech, which manages several funds, said that the first closing of Partech Africa II had raised 245 million euros, making it the largest and most successful Africa-focused fund to date. Tidjane Deme and Cyril Collon, the firm’s managing partners, say they want to…
- Yodawy, a digital healthcare firm, has raised $16 million in a Series B round headed by Delivery Hero Ventures and Global Ventures, based in the United Arab Emirates. Yodawy is a leading pharmacy benefits management platform started in 2018 by Karim Khashaba, Yasser AbdelGawad, and Sherief El-Feky…
- Ten South African startups have been chosen for the three-year GrindstoneX accelerator program, which aims to give women entrepreneurs more power and create jobs. Grindstone was started in 2014 and is owned by Knife Capital and Thinkroom. It helps companies with fast growth and a focus on…
- Sendmarc, a security company based in Johannesburg, has raised $7 million in Series A funding led by Atlantica Ventures and other venture capital firms. Sam Hutchinson, Keith Thompson, and Sacha Matulovich started the company in 2020. Their goal was to help former clients deal with problems like…
- FlySafair, a low-cost airline in South Africa, is the first company to use Chat 2 Pay, an innovative e-commerce solution that lets customers pay easily with their phones through WhatsApp. Clickatell, a global leader in chat commerce and mobile messaging, says that its Chat 2 Pay feature is now live…
- Customer relationship management (CRM) solutions have become more popular over the past few years. The industry is expected to grow at 12.5% per year for the next six years and reach $145.79 billion. This growth is partly because more and more online stores are using CRM solutions to boost sales,…
- Vantage Capital, Africa’s largest manager of mezzanine funds, said that its fourth mezzanine fund has closed. Investors from the US and Europe, as well as several development finance institutions (DFIs) like IFC, BII, SIFEM, DEG, Norfund, Swedfund, Finnfund, and EIB, have pledged a total of $377…
- The 2Africa fiber optic cable, the biggest in the world, is now in Amanzimtoti, south of Durban.The 45,000 km cable, which is still being built, will run along the seafloors of the Mediterranean, Red, and Indian seas, as well as the Atlantic and Indian oceans. The historic project, which was…
- Ethio Telecom has launched a new program to assist local businesses in developing forward-thinking business models in digital banking and technology. The telecom says that the Ethiotel innovation program was made to help businesses with new ideas overcome some of the problems they face when trying…
- The Vertiv MegaMod and Vertiv MegaMod Plus are turnkey prefabricated modular (PFM) data center solutions that may be deployed in expandable modules of 0.5 or 1 megawatts for IT loads up to 2 megawatts or more. Vertiv is a global provider of essential digital infrastructure and continuity solutions…
- These three companies, ThriveAgric of Nigeria, DigicCow of Kenya, and Brastorne Enterprises of Botswana, will each get a grant of US$1.5 million and access to professional advisors. Heifer International runs the AYuTe Africa Challenge, which helps agri-tech innovators on the continent. This is part…
- Dr Adesina talked about his five top priorities when he first took over the Bank. Feed Africa was one of them. “Since then, more than 250 million people across the continent have benefited from the bank’s investments, projects, and programs, which are mostly driven by technology,” he said. Adesina…
- Grey, a startup that enables African freelancers and digital nomads access to foreign accounts, has renewed its commitment to offering cutting-edge and safe global banking products to the African market. As the digital economy continues to grow on our continent, Grey is at the forefront of…
- Nigerian clean tech company SunFI has announced a $2.325 million first round. Rotimi Thomas, the company’s CEO, said that the investment would help SunFi expand its business and improve its ability to offer customers the best systems at the lowest prices. Factor[e]in Nairobi and SCM Capital Asset…
- Trade Lenda, a Nigerian fintech firm that provides access to financing for the business needs of micro, small, and informal retailers, has obtained US$520,000 in pre-seed capital to speed its expansion. Trade Lenda was founded in 2016 The funding came from several different sources, including…
- Nigeria is the first country in Africa to get Elon Musk’s Starlink satellite internet service. The service went live this week, about six months after the Nigerian government and Musk’s company signed a deal to bring the service to the West African country. Starlink, which can deliver internet…
- Gwala, a fintech company based in Morocco, has raised an undisclosed amount of money in a pre-seed round led by a group of well-known investors who believe in the company’s goals. Gwala, founded in 2022, is an innovative fintech startup that offers an on-demand payment solution to Moroccan…
- Trade Lenda, a Nigerian fintech firm that provides access to financing for the business needs of micro, small, and informal retailers, has obtained US$520,000 in pre-seed capital to speed its expansion. Trade Lenda was founded in 2016 The funding came from several different sources, including…
- Convergence Partners, a private equity firm based in South Africa, recently announced that its Convergence Partners Digital Infrastructure Fund (CPDIF) had successfully closed at $296 million, which is more than 18% more than its initial goal. The Convergence Partners Digital Infrastructure Fund…
- Yebo Fresh, a South African online store that delivers fresh food and groceries to neighbourhoods, has raised US$4.5 million in pre-Series A equity funding. In addition to Harvest, the local investment fund of Endeavor, and impact investor Elea Foundation from Switzerland, Enza Capital led the…
- A few months after signing a contract with the Nigerian government to provide the service to the West African nation. SpaceX, an Elon Musk-founded space technology company, said that Starlink, its satellite internet service, is now commercially available in Nigeria. The service is now online in…
- According to governor Godwin Emefiele, the Central Bank of Nigeria is starting the second phase of the eNaira project, which aims to promote financial inclusion for the underserved and unbanked through offline channels. According to the apex bank, since the first phase of the eNaira initiative…
- One of the “Big 4” economies of the African continent, South Africa, experienced a funding setback in 2022 as a result of the year’s enticing fundraising climate. Data from Africa: The Big Deal shows that funding raised in the nation decreased by almost -50% YoY, from $1.1 billion in 2021 to $555…
- Since 2016, the Orange Group (www.Orange.com) has been helping Esport grow by holding national and international competitions for young “gamers” in the region. The “Orange Esport Experience” competition has been going on since 2018 and is now in its fourth year. It is being held in Côte d’Ivoire.…
- Innov8 Group Holdings, a South African private equity firm that provides finance for medtech products to the African medical industry, has announced a partnership with an Ireland-based fund and family office. MyPocketHealth, a virtual care platform; Innohealth Clinics, a growing digital-first,…
- The AfriGo national domestic card program was launched today by the central bank of Nigeria.The program was first shown to the public at a Bankers’ Committee news conference in October 2022. It includes the central bank as one of Nigeria’s three card payment programs. We can get to our data…
- The African Guarantee Fund (AGF), a market-friendly guarantee program that aims to make it easier for small businesses in Africa to get financing, has teamed up with better vest, a crowdfunding platform based in Frankfurt, to make it easier to fund sustainable SMEs projects in Africa. The AGF was…
- On Wednesday, Africa Data Centres, which Cassava Technologies owned, said it plans to build a 20 MW data centre near Cape Town. The new building will open around the middle of next year and can handle up to 20 MW of IT load. In Cape Town, the company now has two data centres. The building […] More…
- The Swiss Confederation’s State Secretariat for Economic Affairs (SECO) Startup Fund has given eWAKA strategic support. This is because eWAKA is one of Africa’s most promising sustainable mobility businesses. The SECO Startup Fund has given eWAKA a loan of 500,000 CHF to support its plans for 2023…
- Spatial Labs, a hardware and infrastructure company for web3 based in Los Angeles, has closed a $10 million seed funding round led by Blockchain Capital. This money will be used to develop new products and help the company grow. Marcy Venture Partners, an investment firm co-founded by the musician…
- Kenya had the highest growth rate in Africa in 2022, thanks to the continent’s enticing fundraising climate that year. During the period, venture volume reached a new high of $4.8 billion. Due to more venture capital (VC) activity in the country, it got the largest share of regional funding in…
- Using mobile applications, websites, WhatsApp chatbots, and SMS services, the telemedicine startup Zuri Health provides patients in Africa with access to high-quality, fairly cost healthcare. Using the app, patients may schedule diagnostic and laboratory testing, communicate and consult with…
- The second iteration of O-Farms, a Kenyan agri-circularity accelerator, has chosen ten entrepreneurs and will provide up to $24,000 in milestone-based funding to two peer-selected businesses. Africa’s first agri-circularity-focused accelerator program, O-Farms, was launched in 2021 and is run by…
- The MENA-based BNPL startup Tabby recently closed a $58 million series C round of fundraising, valuing the company at $660 million. Among the investors in this round were Sequoia Capital India, STV, PayPal Ventures, Mubadala Investment Capital, Arbor Ventures, and Endeavor Catalyst. The BNPL…
- In order to fund the introduction of new technologies and expand its operations throughout Nigeria, the Nigerian agritech firm Releaf received $3.3 million in a pre-Series A round from Samurai Incubate Africa, Consonance Investment Managers, Stephen Pagliuca, and Jeff Ubben. The firm, which was…
