- Infinix has introduced its latest smartphone lineup, the Hot 50 series, which takes over from the Infinix Hot 40 series that was launched last December. Among the new models, the Hot 50i stands out as the top-rated option in the series. The Hot 50i sports an eye-catching ultra-oval, dual-rear-…
- South Africa’s Independent Communications Authority (Icasa) has issued a stern warning to StarSat’s parent company, On Digital Media (ODM), demanding that the company cease operations after failing to renew its broadcasting license. However, despite this directive, StarSat’s customer service agents…
- Workpay, a Kenyan cloud-based HR, payroll, and benefits platform for organizations, has secured $5 million in Series A funding. The round was led by Norrsken22, which has also backed companies like NALA and Orca, with participation from Visa, Y Combinator, Saviu Ventures, Axian, Plug n Play, Verod-…
- BII and FMO are providing funding to expand the UK International Development-funded Commercial Agriculture for Smallholders and Agribusiness (CASA) technical assistance facility. Each organization will contribute $3 million to the newly expanded facility, alongside the UK Government, for the period…
- Vantage Capital, Africa’s largest mezzanine fund manager, has finalized a €14 million mezzanine investment in Société de Production Maraîchère Samir (SPMS) to help finance the company’s growth strategy. Luc Albinski, Executive Chairman at Vantage Capital, expressed his enthusiasm for supporting…
- Presidents of Madagascar and Tanzania have praised Africa50 for its vital contribution to tackling the continent’s infrastructure challenges. Africa50 has successfully mobilized over $1.1 billion in capital commitments and catalyzed an additional $4.4 billion in external financing within just seven…
- The initiative aims to enhance the development and financing of bioethanol production and distribution infrastructure in Madagascar. This effort is expected to mitigate severe deforestation in the country, which is partly driven by the reliance on cooking fuels such as charcoal and wood. The Letter…
- A Kenyan High Court is set to hear a case against Meta, the parent company of Facebook, brought by two Ethiopian citizens and a Kenyan civil society organization, The Katiba Institute, on Tuesday. The plaintiffs, Abraham Meareg, Fisseha Tekle, and The Katiba Institute, allege that Meta promoted…
- Next Narrative Africa, a Nigerian media production company, has partnered with HEVA Fund, a Kenyan-based investment firm, to establish a fund dedicated to African filmmakers. The $40 million Next Narrative Africa Fund will focus on investing in films with budgets ranging from $1 million to $5…
- Chpter, a Kenyan startup that has created an AI-driven conversational commerce platform enabling businesses to enhance their sales on social networks like WhatsApp and Instagram, has secured US$1.2 million in pre-seed funding to further develop its product and expand across Africa. The funding…
- KaiOS Technologies and Mastercard have joined forces to integrate digital payment solutions for small businesses in Africa and other emerging regions. This collaboration aims to leverage KaiOS’s affordable smart feature phones with Mastercard’s payment technology and global network to drive digital…
- Field, a Nigerian healthtech company, has developed a route-to-market service aimed at introducing innovative solutions to maternal mortality, infant and child health, and nutrition challenges. Supported by an initial investment of $11 million from the Bill & Melinda Gates Foundation, the…
- Bolt, the popular mobility platform, has launched its second Driver Engagement Centre in Thornton, Cape Town. This initiative responds to driver feedback emphasizing the need for in-person support. The new centre builds on the success of Bolt’s Johannesburg facility, aiming to address driver…
- Yellow Malawi, a prominent off-grid solar distribution company, has secured a significant $2 million investment from Acumen’s Hardest-to-Reach (H2R) initiative. This financial boost is set to dramatically expand the company’s reach, providing energy access to 182,000 individuals, with 145,000…
- Africa’s digital economy, Itana and the Africa Finance Corporation (AFC) have formally agreed to collaborate on establishing the continent’s first digital economic zone. This landmark partnership, unveiled at the Global Africa Business Initiative during the United Nations General Assembly, marks a…
- Kasha, a Rwandan digital platform focused on providing last-mile access to healthcare, has secured equity funding from Sanofi Global Health Unit’s Impact Investment Fund to aid its expansion into other African countries. Last year, Kasha raised US$21 million in a Series B funding round to support…
- 62% of M-KOPA users report using their M-KOPA products to generate income Leading fintech company for emerging markets, M-KOPA, has announced surpassing 5 million customers across its African markets. This significant milestone was disclosed in a statement viewed by Technext. The statement revealed…
- Amid the slowdown in investment across the African continent, certain investors and venture capitalists continue to display strong interest. Notably, Launch Africa, Techstars, and 54 Collective remain active players. This insight comes from a new report by Africa-focused tech startup analytics firm…
- Airbus has appointed Gabriel Semelas as President of Airbus in Africa and the Middle East, effective January 1, 2025. Gabriel Semelas brings over 24 years of experience in the aeronautical industry, having held key senior executive roles. He returns to Airbus from his current position as Chief…
- A United States lawmaker, Representative French Hill, has indicated that the prolonged detention of Binance Executive Tigran Gambaryan in Nigeria could negatively impact the bilateral relations between the two countries. In a video posted on the lawmaker’s X (formerly Twitter) account recently,…
- Moove drivers have previously protested against sudden hikes in remittances. Uber drivers operating under the Uber Go platform have been thrown into panic after reports surfaced that Moove, the company financing their Suzuki S-presso vehicles, is planning to increase their weekly remittances. The…
- Ooredoo Group, the Qatar-based telecommunications giant, has secured a significant financial boost to accelerate its data center and artificial intelligence (AI) infrastructure expansion in the Middle East and North Africa (MENA)region. The company has signed a financing deal worth 2 billion Qatari…
- Starlink, the satellite internet service owned by Elon Musk, has launched a more affordable kit and monthly plan in Kenya. This move comes just days after Safaricom, the country’s largest internet service provider, increased its fiber internet speeds in response to growing competition. The new…
- Raxio Group has marked a significant milestone in West Africa’s digital landscape with the launch of its state-of-the-art data centre in Abidjan, Ivory Coast. Dubbed Raxio Côte d’Ivoire (CIV1), this facility represents the company’s fifth data centre and its third launch in 2024 alone. The CIV1…
- September 26, 2024 — peaq, the layer-1 blockchain for DePIN and Machine RWAs (real-world assets), announces the expansion of its ecosystem as Pickspot joins to decentralize last-mile logistics in Africa. Pickspot is building a DePIN of smart parcel lockers that people and businesses can set up at…
- The pan-African AXIAN Group, through its subsidiary AXIAN Investment, has taken a significant step in supporting African start-ups by acquiring a stake in WiASSUR, an innovative insurance start-up based in Côte d’Ivoire. This acquisition, finalized in mid-July 2024, is a key milestone in AXIAN…
- A new report titled “The Digital Opportunity of Sub-Saharan Africa” highlights that Artificial Intelligence (AI) is poised to contribute over $30 billion to the region’s economy within the next decade. Commissioned by Google and published by Public First, a policy, research, opinion, and strategy…
- Nigerian investment startup Rise has announced that it will discontinue its virtual card services, citing the unique challenges associated with offering such services in Nigeria. The fintech company has confirmed that the service will officially end on September 30, 2024. This move follows a…
- Starlink has announced that its high-speed internet service is now available in Burundi. This follows the issuance of an operating license in May 2024, granted through a presidential decree. The license was awarded to the satellite-based internet provider under the oversight of the…
- Kofa Technologies, a Ghanaian startup specializing in clean and portable battery solutions, has teamed up with PASH Global, an impact investor, to expand its battery-swapping network in Ghana. The initiative plans to deploy 6,000 batteries and establish up to 100 swap stations across the country,…
- Uganda’s financial services sector is experiencing a significant boost as Agent Banking Company (ABC) secures investment from Goodwell Investments, a Dutch impact investor. This development marks Goodwell’s entry into Uganda’s financial inclusion landscape, signaling growing international interest…
- Talk360, an innovative international calling app, has successfully secured $1.4 million in a Pre-Series A funding round. The investment was spearheaded by Havaic, a long-standing supporter of the company. This financial boost aims to propel Talk360 towards its ambitious goal of connecting seven…
- Safaricom, Kenya’s leading telecommunications provider, has entered into a strategic partnership with global payment giant Mastercard. This collaboration aims to accelerate the adoption of digital payment solutions and enhance cross-border remittance services in Kenya. The initiative is set to…
- Bolt, a prominent player in Africa’s demand mobility sector, has concluded its pioneering Accelerator Program in Kenya. The initiative, aimed at fostering innovation among its drivers and couriers, culminated in an award ceremony at the Sarova Stanley Hotel. This program, launched in partnership…
- Pyvio, a Hong Kong-based fintech company, has joined forces with Kora, a pan-African payment infrastructure provider. This partnership aims to enhance payment capabilities for Chinese B2B e-commerce and media companies operating in Africa. The collaboration addresses a significant challenge in the…
- The Nigerian Communications Commission (NCC) has announced its initiative to harness the 6GHz spectrum, aiming to significantly improve internet speeds across the country. This move positions Nigeria alongside South Africa and Morocco as African nations deploying this advanced spectrum. Dr. Aminu…
- Google and Jacaranda Health have embarked on an eight-month research project to transform maternal healthcare in Kenya. This initiative aims to harness the power of artificial intelligence (AI) to combat the high rates of maternal and neonatal deaths in the country. Kenya faces significant…
- Kenya’s Court of Appeal has upheld a ruling by the Employment Court, allowing 187 Facebook content moderators to proceed with their lawsuit against Meta, the parent company of Facebook, WhatsApp, and Instagram. This decision holds Meta accountable for the treatment of these moderators in East…
- Safaricom, Kenya’s leading mobile operator, has doubled the speeds of its fibre internet packages in response to the growing presence of Starlink in Kenya’s broadband market. The 10 megabits per second (Mbps) package has been upgraded to 15 Mbps, while maintaining the price at KES 3,000 ($23).…
- Telegram, the popular messaging platform, has made significant changes to its privacy features and moderation policies. This shift comes in the wake of the recent arrest of Pavel Durov, Telegram’s founder, in France. Durov was detained on charges related to “crimes committed by third parties” on…
- The Republic of Kenya’s State Department for Diaspora Affairs has entered a partnership with the Hamburg Chamber of Commerce. This collaboration aims to create localized job opportunities through Business Process Outsourcing (BPO) and IT outsourcing. Qhala Trust, a non-profit organization, has…
- Meta, the parent company of Instagram, has unveiled a new initiative aimed at enhancing the safety and well-being of teenage users on its platform. The company is rolling out specialized Instagram accounts for teens that come equipped with built-in safeguards designed to protect young users from…
- Uncap, a venture capital firm with offices in Munich and Nairobi, has introduced a groundbreaking $33 million fund aimed at fostering the growth of small and medium-sized enterprises (SMEs) across Africa.The Unconventional Capital fund presents a unique non-dilutive, revenue-based financing model…
- The Federal Ministry of Youth Development in Nigeria has taken a significant step towards addressing unemployment among the country’s youth. A recent Memorandum of Understanding (MoU) signed with the Nigeria Data Protection Commission (NDPC) aims to train 5,000 young Nigerians as data protection…
- Farid, an innovative Egyptian edtech startup, has recently obtained $250,000 in pre-seed funding from Saudi entrepreneur Amal bint Abdulaziz Al-Ajlan. This financial boost will enable the company to expand its educational platform and venture into global markets, particularly Saudi Arabia and the…
- Foodpreneurs Hub, a Nigerian foodtech startup, has recently secured $500,000 in pre-seed funding to further its mission of addressing food insecurity across Africa. The company, which aims to bridge the gap between food production and post-harvest loss, plans to use this investment to accelerate…
- Guaranty Trust Bank (GTBank), the first Nigerian bank to achieve ₦905.57 billion in half-year profits, is in the final stages of transitioning its core banking platform to Finacle, a software developed by Infosys. The bank previously operated on Basis, a system also used by Providus and SunTrust.…
- Moove, the Nigerian startup backed by Uber that finances vehicles for ride-hailing companies, is expanding into the U.S. Since August, the company has posted job openings for positions in Los Angeles and California. This expansion aligns with Moove’s goal to become profitable by 2025. The U.S.…
- For fintech startups expanding into Kenya, obtaining an operating license is often the most challenging hurdle. A Payment Service Provider (PSP) license can take up to two years due to approval delays, pushing startups to seek alternative solutions like forming partnerships with telecoms, banks,…
- Cybersecurity is an increasing concern for African businesses as they continue to adopt digital technologies. Despite facing challenges such as limited awareness, regulatory shortcomings, and financial constraints, African businesses can improve their cybersecurity defenses by implementing…
