- In a landmark move, Elon Musk’s artificial intelligence company, xAI, has acquired his social media platform, X (formerly known as Twitter), in an all-stock transaction valued at $33 billion. The merger positions xAI at a valuation of $80 billion, with X valued at $33 billion, accounting for $12…
- Sumet Technologies, a Tanzanian fast-moving consumer goods (FMCG) distribution startup, has successfully raised $1.5 million in pre-seed funding. This investment aims to enhance the company’s technological infrastructure, expand its market presence, and optimize supply chains across Africa. Founded…
- NOSIBLE, an emerging artificial intelligence (AI) startup, has successfully raised $1 million in pre-seed funding to enhance its growth marketing initiatives, expand sales operations, and accelerate its go-to-market strategy. Founded in 2020 by Stuart Reid, NOSIBLE offers two primary products: a…
- A recent report commissioned by Mastercard and conducted by Genesis Analytics forecasts that Africa’s digital payments economy will reach $1.5 trillion by 2030. This growth is driven by increased internet penetration, financial inclusion, and a burgeoning fintech sector. Key Drivers of Growth:…
- Nigerian fintech startup Payhippo has raised $4 million in pre-Series A funding as part of its rebranding initiative to Rivy, with a renewed focus on clean energy financing for businesses. The funding round includes $2 million in equity and $2 million in debt financing, co-led by EchoVC and Shell-…
- South African fintech startup Trade Shield has secured ZAR15 million (approximately US$820,000) in funding from First National Bank’s (FNB) Vumela Enterprise Development Fund, in partnership with Edge Growth. This investment aims to fuel Trade Shield’s expansion both within South Africa and…
- Safaricom, in collaboration with M-PESA Africa and Sumitomo Corporation, has announced the opening of applications for the second phase of the Spark Accelerator Programme. This initiative aims to support early-stage startups in Kenya by providing resources, mentorship, and access to markets and…
- South African startup Jem HR, a WhatsApp-based human resources and employee benefits platform, has successfully closed a ZAR60 million (US$3.3 million) pre-Series A funding round. The round included equity funding led by Next176, a venture capital firm backed by financial services giant Old Mutual…
- Egyptian startups are invited to apply for the MINT Fintech Hackathon, an initiative designed to foster innovation and collaboration in the financial technology sector. Organized by MINT Incubator, a platform by EGBANK dedicated to supporting young entrepreneurs, this hackathon offers participants…
- Egyptian payment solutions startup enza has secured $6.75 million in seed funding to advance its mission of transforming financial services and promoting inclusive commerce across Africa. The funding round was co-led by Algebra Ventures and Quona Capital, marking enza’s first external investment.…
- Tunisian legal-tech startup Juridoc has secured an undisclosed amount of funding to accelerate the digitalization of legal services across Africa and the Middle East. The investment round was led by 216 Capital Ventures and Go Big Partners, both beneficiaries of Tunisia’s ANAVA fund of funds…
- Kenyan logistics startup Leta has secured $5 million in seed funding to enhance its AI-driven platform aimed at optimizing delivery routes and reducing transportation costs across Africa. The funding round was led by European venture capital firm Speedinvest, with participation from Google’s Africa…
- Africa’s technology ecosystem has been growing at an unprecedented rate, with startups and innovators driving solutions to local and global challenges. However, the role of African governments in fostering this innovation cannot be overstated. By creating a favorable environment, governments can…
- Innovation hubs are rapidly transforming cities into global tech powerhouses, driving economic growth, attracting talent, and fostering groundbreaking technological advancements. These hubs serve as epicenters for research, entrepreneurship, and collaboration, enabling startups and established tech…
- ORA Technologies, a Moroccan super app, has successfully raised $1.9 million in a pre-Series A funding round led by local investment firms Witamax and Azur Innovation Fund. This latest investment brings the total funding secured by ORA Technologies to $4.4 million since its inception in 2023.…
- Wema Bank has announced the launch of the sixth edition of its innovation initiative, Hackaholics 6.0, themed “Beyond Algorithms: Engineering Disruptive Innovation.” This year’s edition introduces an accelerator program designed to empower tech entrepreneurs and startups, reflecting the bank’s…
- LoftyInc Capital Management, a prominent pan-African venture capital firm, has announced the first close of its LoftyInc Alpha Fund at $43 million. This late-seed investment vehicle aims to support Africa’s burgeoning tech startups, with a focus on countries like Nigeria, Egypt, Kenya, and regions…
- South African agri-tech startup Khula has successfully raised ZAR126 million (approximately US$6.8 million) in the initial phase of its Series A funding round. This investment aims to enhance Khula’s digital platform, which seeks to revolutionize the agricultural supply chain by directly connecting…
- Widebot, an Egyptian artificial intelligence (AI) startup, has successfully secured $3 million in a pre-Series A funding round to advance the development of an Arabic large language model (LLM). Originally founded in Cairo, Widebot has since relocated its operations to Riyadh, Saudi Arabia. The…
- Kenyan re-commerce startup Badili has secured a US$400,000 debt facility from French development organization Proparco to bolster its refurbished electronics initiative. Established in 2021, Badili operates in Kenya, Tanzania, and Uganda, focusing on the aggregation, repair, and resale of used or…
- In a remarkable showcase of innovation, three Francophone African startups have emerged victorious in the 2025 Orange Summer Challenge, a prestigious accelerator program aimed at transforming entrepreneurial ideas into impactful businesses. The winners were announced at an award ceremony held on…
- The Bank of Namibia (BoN) is actively exploring the introduction of a Central Bank Digital Currency (CBDC) to enhance cross-border payments and promote financial inclusion within the country. This initiative follows a technical assistance mission conducted by the International Monetary Fund (IMF)…
- In a significant shift within the tech industry, Microsoft has announced that it will discontinue Skype, the internet calling service it acquired in 2011 for $8.5 billion. The service is scheduled to cease operations on May 5, 2025, ending a 14-year association that saw Skype become a household…
- GITEX Africa 2025, the continent’s premier technology exhibition, is set to take place from April 14 to 16, 2025, in Marrakech, Morocco. This event aims to position Africa as a global technology powerhouse by bringing together industry leaders, innovators, and policymakers to explore the latest…
- In a strategic move to strengthen its presence in the Middle East and North Africa (MENA) region, UAE-based Dubizzle Group has acquired Hatla2ee, a leading Egyptian online car marketplace. The acquisition aims to enhance the car buying and selling experience for millions of users in Egypt by…
- Dream VC, a prominent African-focused venture capital institute, has officially opened applications for its 2025 venture capital training programs. This year, Dream VC is offering updated editions of its flagship programs: Launch into VC (LIVC): A 16-week foundational program tailored for young…
- MANSA, a Dubai-based fintech startup specializing in cross-border payments, has successfully secured $10 million in funding to enhance its stablecoin-based liquidity solutions and expand its global presence. The funding round comprises a $3 million pre-seed investment led by Tether, the issuer of…
- Gozem, a leading super app in Francophone Africa, has successfully raised $30 million in a Series B funding round to accelerate its expansion across West and Central Africa. The investment, comprising equal parts equity and debt, was led by SAS Shipping Agencies Services Sàrl—a subsidiary of MSC…
- UAE-based fintech company Flow48 has secured $69 million in a Series A funding round, combining debt and equity, to enhance its SME financing solutions across emerging markets. The round was led by Paris-based venture capital firm Breega, with participation from investors including 212, Speedinvest…
- Tunisian e-commerce startup Dabchy, specializing in second-hand fashion, has successfully secured a seven-figure pre-Series A funding round. The investment was led by Janngo Capital, Africa’s largest gender-equal tech venture capital fund, with participation from Renew Capital, Village Capital, and…
- We are thrilled to announce the official launch of the La Foi Holding website! After months of planning, designing, and developing La Foi Holding is excited to provide an enhanced online experience for its customers, partners, and visitors. The newly redesigned website offers a fresh, modern look,…
- Madica, a structured investment program designed for pre-seed startups in Africa, has announced its latest round of investments, committing $800,000 to four innovative tech-enabled startups: Medikea, Motherbeing, Pixii Motors, and ToumAI. Each startup has received up to $200,000 and will…
- Ghanaian fintech startup Affinity Africa has secured $8 million in an oversubscribed seed funding round to expand its affordable banking services. The round was led by Grazia Equity and BACKED VC, with participation from Enza Capital, Launch Africa, Renew Capital, Finca International, Attijariwafa…
- Egyptian social commerce startup Taager has successfully raised $6.75 million in a pre-Series B funding round to accelerate its expansion across the Middle East and North Africa (MENA) region. The oversubscribed round was led by Africa-focused tech growth fund Norrsken22, with participation from…
- Nigerian fintech startup Raenest has secured $11 million in a Series A funding round to enhance its cross-border payment solutions for African businesses and professionals. The investment was led by QED Investors, with participation from Norrsken22, Ventures Platform, P1 Ventures, and Seedstars,…
- Moroccan eyewear startup LNKO has secured an undisclosed equity investment from Egypt-based Beltone Venture Capital to support its expansion across Africa. Founded in 2020 by Maha Bennani, LNKO offers stylish and affordable eyewear through a fully digitized value chain. The company has served over…
- Moroccan AI technology company ToumAI has secured €1 million (approximately $1 million) in pre-seed funding to advance its mission of delivering personalized, adaptive, and sustainable customer experience (CX) solutions globally. The funding round was led by Launch Africa Ventures, with…
- In a decisive move, OpenAI’s board of directors has unanimously rejected a $97.4 billion acquisition offer from a consortium led by Elon Musk. The board emphasized that OpenAI is not for sale and reaffirmed its commitment to its mission of ensuring that artificial general intelligence (AGI)…
- P1 Ventures, an early-stage pan-African venture capital firm, has successfully closed its first institutional fund at $50 million, aiming to bolster technology startups across the continent. The fund has attracted investments from African conglomerates, family offices, global venture capital…
- Applications are now open for the fifth cohort of the Home Grown Solutions (HGS) Accelerator for Pandemic Resilience, an initiative by the African Union Development Agency (AUDA-NEPAD) in partnership with the Japan International Cooperation Agency (JICA). This program aims to accelerate the growth…
- Tunisian fintech startup EasyBank has successfully raised $370,000 in funding to support its international expansion plans. Founded in 2023 by Mohamed Khelifi and a team of fintech specialists, EasyBank aims to simplify access to loans and banking services through advanced artificial intelligence.…
- StarkWare, an Israeli blockchain infrastructure company valued at $8 billion, has unveiled a $4 million venture fund aimed at fostering blockchain innovation across Africa. This initiative seeks to support early-stage startups developing solutions on StarkNet, StarkWare’s Ethereum-based…
- GreenYellow South Africa has announced a €10 million investment in energy efficiency projects across Southern Africa, aiming to enhance sustainability and reduce energy consumption in the region. In partnership with Spark Energy Services, the initiative focuses on upgrading lighting systems in…
- Egyptian fintech startup Khazna has successfully raised $16 million in a pre-Series B funding round to bolster its financial services and expand into the Saudi Arabian market. This latest investment brings Khazna’s total funding to over $63 million. The round saw participation from both existing…
- Ivorian fintech startup Cauridor has successfully secured $3.5 million in seed funding to enhance its cross-border payment infrastructure across Francophone Africa. The funding round was led by Oui Capital, with participation from Rally Cap, BKR Capital, and various angel investors. Founded by…
- The SIA Foundation, in collaboration with TheNest Innovation Technology Park, has announced the launch of the second cohort of the SIA Startup Foundry, an incubator program designed to support Nigerian entrepreneurs. This initiative aims to provide early-stage startups with the resources and…
- The GSMA, in partnership with the UK Foreign, Commonwealth & Development Office (FCDO), has unveiled the GSMA Innovation Fund for Impactful AI, aiming to support small and growing enterprises in low- and middle-income countries (LMICs) across Africa, South Asia, Southeast Asia, and the Pacific…
- Cairo-based venture capital firm Foundation Ventures has announced the first close of its $25 million fund, FVFII, aimed at bolstering Egypt’s startup ecosystem and supporting promising ventures across Africa. The fund has attracted significant investors, including the Egyptian American Enterprise…
- Moove, a global leader in mobility solutions, has announced the acquisition of Kovi, an urban mobility provider headquartered in São Paulo, Brazil. This strategic move marks Moove’s significant expansion into the Latin American market, aligning with its vision to build the world’s largest rideshare…
- Simplex, an Egyptian startup specializing in computer numerical control (CNC) machine manufacturing, has successfully raised $13 million to construct a state-of-the-art factory in Riyadh, Saudi Arabia. This strategic expansion aligns with Saudi Arabia’s Vision 2030 initiative, aiming to diversify…
