- Workpay, an Africa-focused cloud-based HR, payroll, and benefits platform, has secured $5 million in a Series A round, with Norrsken22 as the lead investor. Visa, Y Combinator, Saviu Ventures, Axian, Plug n Play, Verod-Kepple Africa Ventures, and Acadian Ventures, a venture firm focused on…
- NoorNation, an Egyptian climate-tech startup, has received an undisclosed investment from KBW Ventures, which was founded by Saudi Prince Khaled bin Alwaleed, to help it scale. NoorNation, founded in 2021 by Ragy Ramadan, offers the off-grid industry in Egypt and Sub-Saharan Africa technologically…
- Egypt’s T-Vencubator, a renowned venture capital firm and incubator, has launched its inaugural funding program, with the goal of investing in five startups before the end of the year. Through the combination of venture capital and incubation, T-Vencubator helps close the technical and…
- Solarise Africa, an energy-as-a-service provider for businesses across Africa, has announced a funding agreement with Mergence Investment Managers, resulting in a $8.9 million investment. PSG Capital, an African corporate finance advising business, served as the transaction’s principal advisor and…
- Lucky ONE, a leading consumer credit fintech company in Cairo, has successfully raised $3 million in the form of a convertible note. This funding will help the company reach profitability by Q12025 and expand its credit lending services to a wider segment of the Egyptian population. Current…
- Artificial Intelligence (AI) and Machine Learning (ML) are revolutionizing industries across Africa, offering innovative solutions that drive efficiency, enhance decision-making, and foster economic growth. These technologies are being applied in various sectors, from agriculture and healthcare to…
- Digital transformation in government, often referred to as e-governance, involves leveraging technology to improve the efficiency, transparency, and accessibility of government services. In Africa, e-governance initiatives are playing a crucial role in modernizing public administration, enhancing…
- Waza, a Nigerian B2B payment and liquidity provider for emerging market businesses, has secured $8 million in equity and debt funding to establish new trade finance solutions and expand into new markets beyond its current operations in Ghana and Nigeria. The funding is comprised of a $3 million…
- Jumia Technologies AG ($JMIA), the African e-commerce giant, has effectively concluded a secondary offering, generating $99.6 million through the sale of 20 million ordinary shares, just days after the announcement. This corresponds to an average selling price of approximately $4.95 per share,…
- Open Access Energy (OAE), a South African software company that specializes in optimizing energy transactions, has received a US$750,000 investment from Factor E Ventures. This investment is the first tranche of a US$1.5 million seed round that OAE is conducting to address South Africa’s chronic…
- GROW, an investment readiness program operated by Open Startup has launched its second cohort. The program is intended to assist advanced African companies in expanding their operations and obtaining funding. Open Startup is a non-governmental organization that is committed to the development of…
- HAVAÍC, a South African venture capital firm, has announced the US$15 million first closure of its third African-focused venture capital fund, with a target size of US$50 million. The fund is in partnership with Universum Wealth and the SA SME Fund. HAVAÍC is a prominent African VC investment…
- The Africa’s Business Heroes competition, a philanthropic program that promotes African entrepreneurs, has selected fifty finalists for its fifth edition. The Jack Ma Foundation and Alibaba Philanthropy support Africa’s Business Heroes (ABH) competition, a philanthropic initiative that aims to…
- Google for Startups Accelerator Africa has selected 10 African tech Startups to participate in its 8th cohort. The Google for Startups Accelerator Africa program has provided support to 106 Startups from 17 African countries since its inception in 2018. The 10 selected startups will participate in…
- Cartona, an Egyptian startup that digitizes and empowers mom-and-pop stores, hotels, restaurants, cafés, FMCG companies, and wholesalers, has secured a US$8.1 million debt and equity Series A extension round to fuel its growth in the domestic and international markets. Algebra Ventures was the lead…
- Educatly, a leading global network in higher education, has received $2.5 million in new funding from TLcom Capital and Plus VC. Egypt Venture (Egypt) and the HBAN syndicate (Ireland) also participated in the round. Educatly, which was founded in 2020, is dedicated to assisting students in…
- Blockchain technology has the potential to significantly impact Africa’s economic development by enhancing transparency, efficiency, and trust in various sectors. Here’s a detailed look at how blockchain can contribute to Africa’s economic growth and address some of the continent’s pressing…
- SearchGPT, a search engine prototype by OpenAI, promises to provide users with “fast and timely answers with clear and relevant sources.” The tool is now being evaluated with a small group of users, and the company has stated that it eventually intends to integrate it into its ChatGPT chatbot.…
- Intron Health, a pioneering health tech startup that provides clinical speech recognition for over 200 accents spoken in underdeveloped nations, beginning with Africa, has raised $1.6 million in a pre-seed funding round. With participation from Plug and Play Ventures, Jama Rift Ventures, Octopus…
- According to reports, Apple might unveil its foldable iPhone as early as 2026. This would be the most significant redesign of Apple’s most popular product’s hardware to date. According to the report, Apple’s foldable iPhone has moved past the conceptualisation phase. In an attempt to draw in more…
- MNT-Halan, an Egyptian fintech company, has secured US$157.5 million in funding to facilitate its forthcoming geographical expansion. After raising US$157.5 million in cash, of which US$40 million came from the International Finance Corporation (IFC), it is now prepared for international expansion…
- d.light, a global leader in affordable affordable household products and financing for low-income households, has announced the closure of a new securitisation facility. The facility will acquire receivables in the amounts of USD$176 million from Kenya, Tanzania, and Uganda. African Frontier…
- TurnStay, a South African travel-focused fintech, has raised $300,000 in funding to expand into other African markets and build on its substantial momentum. TurnStay will use the US$300,000 cash, which comes from investors DFS Lab and DCG in Silicon Valley and other York, to expand quickly into…
- Uncover, a tech-enabled emerging beauty brand in Kenya, has raised a seed II funding round worth US$1.4 million to expand its digital platform, launch new products, and enter new markets. EQ2 Ventures and IgniteXL Ventures co-led the funding round, with Chui Ventures, Samata Capital, and Altree…
- Innovate Africa, an angel investment fund that helps early-stage innovators fund life-changing ideas, scale startups from concept to product, and finance innovative ventures, launched with an initial US$2.5 million investment. Innovate Africa, a sector-agnostic fund co-founded by Kristin Wilson and…
- Healthtech is making significant strides in Africa, addressing critical healthcare gaps with innovative solutions. Here are some key areas where healthtech is making an impact: 1. Telemedicine Telemedicine platforms are bridging the gap between patients and healthcare providers, especially in…
- African startups are increasingly leveraging accelerator programs to catalyze their growth, gain access to resources, mentorship, funding, and networks. Accelerator programs play a crucial role in supporting early-stage ventures across the continent, providing structured support over a fixed period…
- The rise of tech communities in Africa represents a dynamic and rapidly growing sector that is transforming the continent’s economy, fostering innovation, and addressing local challenges with technological solutions. Across various regions, from West Africa to East Africa and Southern Africa, tech…
- An Amazon.com, Inc. subsidiary, Amazon Web Services, Inc. (AWS) has pledged $230 million to help global companies speed up the development of artificial intelligence (AI) applications that generate new ideas. This will help startups, particularly those in the early stages, by providing them with…
- Applications for the 10k2Startup initiative are now being accepted from African startups. This programme seeks to provide cash and other forms of support to businesses that are tackling real-world issues, with a target range of $10,000 to $50,000. Founded by Google’s head of multi-channel mid-…
- Breega, one of Europe’s fastest-growing early stage funds, has launched its first African fund, “Breega Africa Seed I,” with the goal of becoming the premier early-stage investor in African entrepreneurs. With offices in Paris, London, and Barcelona, Breega has been investing in businesses from…
- Connect Money, a fintech company based in Egypt that specialises in banking as a service and embedded financial services, has raised $8 million in seed company to support the launch of five new business verticals. Businesses can offer debit and credit cards to their consumers through Connect Money’…
- Adobe has been accused of misleading consumers by concealing the early-termination fee and making it challenging for individuals to terminate their subscriptions, according to a lawsuit filed by the U.S. Department of Justice. The Department of Justice (DOJ) stated in the complaint it filed on…
- The THRIVE Global Impact Challenge is calling for applications from African agrifood startups for a prize of $1 million. The goal of the challenge is to help fund the shift towards a net-zero agricultural future. The THRIVE Global Impact Challenge is a global initiative that seeks to identify the…
- AfriLabs, an African hub network, and UM6P Ventures, an investment firm controlled by a Moroccan university, have reached an agreement to collaborate for one year. This collaboration will involve the implementation of a variety of initiatives to foster and develop African entrepreneurship. AfriLabs…
- Potcast Productions, a podcast production company headquartered in Egypt, has successfully secured an undisclosed pre-seed funding round. The funds will be used to expand the company’s content production capabilities, expedite the development of new series, and expand its marketing efforts. In…
- i’SUPPLY, an Egyptian pharmaceutical distribution startup, has secured a pre-Series A funding round, bringing its total funding to US$2.5 million since its inception in 2022. Disruptech Ventures, OneStop Capital, Axian Investment CVC, and Egypt Ventures were among the prominent investment funds…
- Sahl, a Cairo-based startup, has secured US$6 million in Series A and seed funding to serve as a comprehensive domestic bill management platform in partnership with government entities. Ayady for Investment and Development, a prominent Egyptian investment firm, led the US$6 million funding round…
- Ecobank, the pan-African financial services group, has announced the opening of applications for the seventh edition of its Fintech Challenge. This annual competition extends an invitation to mature and early-stage fintech startups to collaborate with Ecobank. The grand prize is US$50,000, and the…
- LAfricaMobile, a cloud communication startup based in Senegal, has secured US$4.6 million in a Series A round of funding to expedite its expansion across French-speaking Africa. French footballers Aurélien Tchouaméni and Jules Koundé were also involved in the round, which was led by Janngo Capital…
- Mastercard has announced the winners of the third edition of its Women SME Leaders Awards, celebrating the achievements of women-owned and led businesses across diverse sectors in the Eastern Europe, Middle East, and Africa (EEMEA) region. Launched in 2022, the Mastercard Women SME Leaders Awards…
- Across Africa, startups are emerging as innovative solutions to address the continent’s unique challenges. From access to healthcare and education to transportation and agriculture, these startups are leveraging technology, entrepreneurship, and local knowledge to create impactful solutions…
- YoLa Fresh, a Moroccan agri-tech startup, has raised US$7 million in a pre-Series A funding round to support its growth. YoLa Fresh is creating a transparent and sustainable fresh food supply network. Al Mada Ventures led the startup’s US$7 million pre-Series A funding round, in which Algebra…
- Birdnest, a proptech startup based in Egypt, has raised an undisclosed sum of money to help it penetrate new markets and grow its existing presence in Egypt. Beltone Venture Capital and CI Venture Capital were among the investors who contributed to the startup’s pre-Series A round of funding. The…
- Bosso, a Zambian startup that offers innovative construction e-commerce solutions to the African building and construction industry, has raised US$400,000 in its pre-seed round of funding. The largest online marketplace for building materials in Zambia, Bosso was founded in 2022 by Chisepo Chirwa…
- AWS Wavelength will be available in Morocco and Senegal later this year, according to plans announced by Orange Middle East & Africa (OMEA) and Amazon Web Services, Inc. (AWS). This will allow businesses, government agencies, and startups to safely process and store data locally, use AWS…
- Amethis Fund III, a pan-African fund that offers private equity growth capital to medium-sized businesses on the continent, has received a €25 million investment from the European Investment Bank’s EIB Global division. Companies that provide goods and services to low- and middle-income populations…
- Safaricom Ethiopia, a telco operator, has announced that it has received the first batch of 13 locally produced telecom towers from Woda plc, the country’s first local firm to manufacture network towers, to upgrade and expand its network infrastructure. The telecom provider claims that Woda will…
- The construction of Nigeria’s transport, water, sanitation, and energy and power infrastructure has received $1.44 billion in funding from the African Development Bank. This was revealed by Director General Lamin Barrow of the Bank’s Nigeria Country Department during the Nasarawa Investment Summit…
- Microsoft South Africa and the Department of Trade, Industry, and Competition (DTIC) have reached a 10-year deal for Microsoft to invest R1.3 billion ($70 million) in the South African economy. Microsoft states that the money will be used to support the growth of small, micro, and medium-sized…
