tagresults
Revio raises $5.2 million Seed round to improve payments operation across Africa
Payment orchestration platform Revio raises $5.2 million to reduce the cost, risk, and complexity of payment operations in Africa.
Afreximbank urges prioritisation of export trading companies to drive African SME participation in global trade
The African Export-Import Bank (Afreximbank) has called on African countries to prioritise the development of public and private export trading companies (ETCs) in order to position the continent’s small and medium enterprises (SMEs) to participate effectively in global trade.
Mediterrania Capital IV receives a €30 million commitment from the EBRD
Mediterrania Capital Partners to announce that the EBRD will be investing up to €30 million in the new MC IV fund to support mid-cap companies in North and Sub-Saharan Africa.
Five African health-tech startups among 30 selected for Google for Startups AI Program
The Google for Startups Growth Academy: AI for Health has unveiled the thirty startups from around the world selected for its 2023 cohort.
[Kenya] Logistics startup Sendy goes into administration after failing to find a buyer
By going into administration, Sendy confirms it has now become insolvent and is now seeking legal protection from the suppliers and organisations it owes money to while it’s developing a restructuring plan.
Metier announces first close of Metier Capital Growth Fund III
Metier announced the first close for Metier Capital Growth Fund III, raising just over $182 million, with further commitments expected by final close positioning Metier to exceed its targeted fund size of $200 million.
Mediterrania Capital IV receives a €20 million commitment from CDP Group
Mediterrania Capital Partners to announce that Cassa Depositi e Prestiti S.p.A. (CDP Group) will be investing €20 million in the new MC IV fund to support mid-cap companies in North and Sub-Saharan Africa.
Fintech firm Lipa Later closes a sh500 million privately placed debt issue
This raise was supported by Rubicon Landing, a reputable transaction advisory firm, acting as the transaction advisors and KN Law, a leading legal advisory firm, acting as the Legal Advisors.
[Côte d’Ivoire] IFC announces $3.4 million equity investment in e-commerce platform ANKA
The funding will allow ANKA, an online sales platform for African creators and merchants, to scale its operations and onboard about 100,000 additional artisans from across Africa by 2030.
[Interview] Kenneth Njeru, Director of Africa Afya Healthcare
I started my company in 2019 October at the age of 20. My first immediate costs were registering my company which cost about 80US Dollars and having the website done at about 400US Dollars.
Truist partners with Standard Chartered to strengthen trade finance capabilities in emerging markets
Standard Chartered Americas has announced that it has entered a trade finance partnership with Truist Bank that will enhance Truist clients’ ability to conduct global business.
FreedomPay and WorldPay to join forces for an integrated payments partnership
FreedomPay announced partnership with Worldpay from FIS to provide best-in-class integrated payments for enterprise merchants.
12 African startups selected for Microsoft-backed FAST Accelerator AI program
Data and AI technology company Flapmax has announced the twelve startups selected for the second cohort of the FAST Accelerator startup program. The program is created in partnership with Microsoft to help strengthen and scale Africa's digital ecosystem.
Kua Ventures invests over $1 million in Kenyan SMEs
Kua Ventures, an impact investment firm based in Kenya, has reached a new investment milestone after surpassing USD 1 million (approximately Ksh. 145 million) in funding committed to the growth of Small and Medium Enterprises (SMEs) in the country.
Verve & Moniepoint partner to launch debit card and expand access to financial services
Verve has joined forces with Moniepoint Microfinance Bank to increase access to financial services for Nigerians through the launch of the Moniepoint Verve Debit Card.
Lipa Later has secured $5 million in private debt issuance
Lipa Later successfully closes a KES 500 Million privately placed debt issue and sets sights on raising Kes. 2BN
Kia partners with Fixit45 to offer genuine auto parts and quality aftersales services to customers
Kia Nigeria, the leading automobile brand in Nigeria has partnered with Fixit45 to offer customers genuine spare parts and exceptional after-sales service.
[Ghana] Kenyan insurtech Turaco acquires MicroEnsure to deepen affordable insurance coverage across Africa
Turaco, the Kenyan insurtech startup offering affordable insurance to users has acquired MicroEnsure Ghana from MIC Global. Under the deal, MicroEnsure will rebrand to Turaco Ghana and retain the expertise of the existing team and leadership.
Lupiya raises $8.25m Series A round to grow neobanking business in Africa
Zambian neobank Lupiya has successfully secured US$8.25 million in Series A funding to scale operations in its home market and in new ones.
La plateforme d’e-commerce ANKA décroche 5 millions de dollars pour accélérer sa croissance
IFC investit dans la plateforme d’e-commerce ANKA afin de soutenir le secteur de la création en Afrique.
IOE and Seedstars announce the Fourth Migration Challenge targeting startups in Nothern Africa
The programme is seeking tech startups from regions like Africa and MENA to innovate migration processes, particularly emphasizing green climate tech solutions.
Salt Capital acquires a stake in African disruptive technology firm Response24
Salt Capital to announce the signing of Salt Equity I’s first investment into Response24, a B2B SaaS platform technology company specialising in monitoring and reducing response times for emergency, security, and service driven sectors across Africa.
29 African healthcare supply chain startups selected to receive funding from the Gates Foundation
Investing in Innovation Africa (i3), a pan-African initiative for startups building the future of healthcare supply chains has announced its second cohort of 29 companies
Fintech startup Sendwave launches new banking product targeting Kenyans in the US
Kenyans living in the US stand to gain from a new banking product that allows users to earn interest and pay reduced fees on international remittances. The new product dubbed Sendwave Pay was recently launched by digital remittance company Sendwave.
[Kenya] Five Kenyan cleantech startups selected for JICA’s Project NINJA accelerator
Five Kenyan cleantech startups have been selected to take part in the 3rd cohort of Japan International Cooperation Agency’s (JICA) entrepreneurship support initiative, Project NINJA (Next INnovation with Japan).
[Uganda] Agritech startup Emata raises $2.4 million seed funding
Ugandan agritech startup Emata has raised $2.4 million in seed funding comprising $800,000 in equity and $1.6 million in on-lending capital.
[South Africa] Irish Tech Challenge offering support to local tech startups
In its pilot year of 2022, the Irish Tech Challenge also provided support and a networking trip to Ireland to 5 startups in various tech sectors.
SAMA Money de l' UBA obtient l’agrément d’Établissement de Monnaie Électronique
La Banque Centrale des Etats de l’Afrique de l’Ouest (BCEAO) a agréé Sama Money en lui conférant le statut d’Établissement de Monnaie Électronique (EME).
Catalyst Fund marks its first close to back climate tech startups in Africa
The Catalyst Fund has announced the successful first closing with over 20% of its targeted US$40 million fund closed.
Winners of the $116,000 2023 GoGettaz Agripreneur Prize Competition announced
Generation Africa awarded two grand prizes of $50,000 to Hasina Andriatsitohaina, Founder and Manager of Mad'Arom in Madagascar, and Ikenna Nzewi, Co-Founder and CEO of Releaf Africa in Nigeria.
Jay-Z and Jack Dorsey-funded bitcoin non-profit acquires African bitcoin developer training company Qala
₿trust, a non-profit organisation which exists to decentralise the development of Bitcoin software, has announced its acquisition of Qala. Qala is the leading African organisation training the next generation of African Bitcoin and Lightning engineers.
Investor-founder disconnect poses major threat to African tech funding, report
Titled “Startup Performance Reporting in Africa: What do investors want to know?”, the report’s findings underscore the significant and timely need for founders across the ecosystem to reprioritise communication efforts with their existing investor base to support their long-term funding requirements.
ICT Authority's Huduma Whitebox Program fuels tech entrepreneurship in Kenya
The Huduma Whitebox Program is run through a partnership between the ICT Authority and Strathmore following the signing of an MOU in February 2023.
Fintech firm Lipa Later gets nod for public fundraising in the US
This is a significant milestone for Lipalater as it has become one of the first African companies to secure the green light from the esteemed US Regulator - SEC!
[South Africa] Irish Tech Challenge 2023 for tech startups launched
This initiative aims to forge mutually beneficial partnerships between South African entrepreneurs and Irish technology expertise, harnessing Ireland’s position as a global high-tech hub.
11,5 milliards de dollars pour la transition verte et la création d’emplois en Afrique
IFC investit un montant record de 11,5 milliards de dollars pour la transition verte et la création d’emplois en Afrique.
Fintech firm LemFi raises $33 million funding to transform financial services for immigrants
Fintech startup LemFi (Formerly Lemonade Finance) has raised a $33 million Series A round led by Left Lane Capital. Other investors included Y-Combinator, Zrosk, Global Founders Capital, and Olive Tree.
British International Investment launches pioneering investment platform to boost funding for SMEs in Ghana
Growth Investment Partners (GIP) will help to address a critical gap in accessing finance for SMEs who are the lifeblood of the Ghanaian economy.
Payflex receives global recognition at the Global Payments Innovation Awards 2023
Payflex, South Africa’s first and leading BNPL provider, has been honoured at the Global Payments Innovation Awards by being awarded the Best eCommerce Payment Initiative, an award that showcases its innovation in the fast-changing world of fintech.
Visa, NymCard launch plug & play end-to-end issuance platform
Visa, the world's leader in digital payments, has launched the Visa Ready to Launch (VRTL) programme, giving fintech and non-banking entities a seamless experience in issuing payment products.
Mastercard and Ingiz launch partnership to boost financial inclusion among Egyptian youth
Mastercard has announced a strategic partnership with Ingiz, a family financial management start-up in Egypt supported by Masria Digital Payments, to launch a cutting-edge digital payments application designed to drive financial literacy and inclusion among Egypt’s youth.
inDrive to invest in boosting driver safety in Kenya
In a move that demonstrates its unwavering commitment to enhancing safety for urban mobility in Kenya, inDrive has made a significant investment of nearly half a million Kenyan shillings.
[Nigeria] Five African transport and e-commerce startups emerge from GIZ LoT 17 program
Seedstars and Lab of Tomorrow (LoT) have announced the conclusion of LoT 17, an innovative program aimed at transforming Nigeria's transport and e-commerce sectors.
[Ghana] MEST Africa Challenge Startup Pitch Competition Applications Open
MEST Africa has opened applications for its 2023 Challenge Startup Pitch Competition for African startups. The programme is targeting early-stage technology startups operational in Ghana, Nigeria, Senegal, Kenya, and South Africa.
Google launches AI First accelerator program for African startups
Tech giant Google has announced the launch of a new accelerator program to support Artificial Intelligence (AI) startups in Africa.
[Nigeria] Treepz among startups selected for 2023 VC4A Venture Showcase Africa
Treepz, the African car-sharing and rental marketplace is among the 12 startups selected to to participate in this year’s VC4A Venture Showcase Africa.
FMO Ventures expanded partnership to add more value to Africa's fast-growing tech ecosystem
AfricArena and FMO Ventures expanded partnership to bring more value to Africa's fast-growing tech ecosystem.
Backbase and Valleysoft partner to usher in a new era of digital banking in the Middle East and Africa
With digital banks growing, and competition heating up among incumbents, new partnership between Backbase and Valleysoft offers banks accelerated innovation.
Founders Factory Africa élargit sa mission en aidant les fondateurs africains à se développer davantage
Founders Factory Africa a obtenu un financement supplémentaire de 114 millions de dollars pour développer son modèle afin de mieux servir les fondateurs dans l'écosystème technologique africain.
[Column] Ololade Odunsi: Global Tech job cuts - What African techies can do to thrive
One of the most important things any tech worker can do right now is build out their 21st Century skills. That’s been important for a while, especially as linear career paths become less and less common.
[South Africa] IFC and National Credit Regulator launch TechSprint to support small credit providers
To help strengthen credit reporting and access to finance in South Africa through innovative digital solutions, IFC, in partnership with the Government of Japan and the National Credit Regulator (NCR), have announced a TechSprint week for creative South African startups, tech companies, innovators, and entrepreneurs.
[Kenya] Fintech startup Hisa appoints Eric Jackson as new Hisa CEO
Kenyan fintech Hisa has announced the appointment of Eric Jackson as its new Chief Executive Officer (CEO). Jackson takes over from Erick Asuma who recently stepped down from the position.
Termii has raised $3.65M funding to fuel customer engagement innovation in Africa
Termii aims to revolutionize customer engagement across Africa and with its recent fundraise, the company looks to further its expansion efforts, particularly in Francophone Africa with a focus on Ivory Coast.
Payoneer Singapore secures major payment license to help SMEs transact globally
Major Payment Institution license complements Payoneer’s suite of global licenses, enabling enhanced in-market product and service offerings.
[South Africa] Gauteng Accelerator Programme 2023 applications open
The competition is seeking entrepreneurs, innovators, and researchers working on ground-breaking technologies to improve government, private and the quality of life of South African citizens,
12 growth stage startups selected for the 2023 VC4A Venture Showcase Africa
Leading startup platform in emerging markets VC4A has announced the 12 African startups that have been selected to participate in the 2023 VC4A Venture Showcase Africa.
[Nigeria] Farm Central Intelligence Wins AFEX Code Cash Crop 4.0 Ag-hackathon
Agri-tech firm Farm Central Intelligence has emerged as the winner of this year’s AFEX Code Cash Crop 4.0 Ag-hackathon.
Termii teams up with Truecaller to revolutionize mobile business communication in Africa
Termii, Africa's leading customer engagement platform, and Truecaller, the leading global communications platform for verifying contacts and blocking unwanted communication, have joined forces to revolutionize business communication across the continent.
MTN and Mastercard to partner for the MTN fintech business in the new 2025 Strategy
In the first half of 2023, MTN Group delivered resilient results, advanced its strategy by partnering with Mastercard on the MTN fintech business, and progressed plans to exit Afghanistan.
[Tanzania] D.Light closes $125M funding to meet growing demand for off-grid solar products
d.light, the global provider of household products and affordable finance for low-income households, today announced a $30 million securitization facility with the capability to purchase up to $125 million of receivable assets.
Afrexim Bank to open CORICOM office in Barbados
Dickon Mitchell, Prime Minister of Grenada, H.E President Olusegun Obasanjo (GCFR), Chairman of the Intra-African Trade Advisory council and the Caribbean community region presided over the official opening of the CARICOM office of the Bank, while reaffirming the US$1.5 billion credit limit made available to support eligible CARICOM States.
Nigerian mobility fintech Moove secures $76m funding for global expansion
Moove, the Nigerian mobility fintech has secured $76 million in new funding, consisting of $28m in equity from new and existing investors. The funding comes just two months after the startup raised another $8 million in financing from Absa Corporate and Investment Banking (CIB),
[Kenya] BasiGo introduces a 36-seater electric bus
Dubbed “E9 Kubwa”, BasiGo says the bus has been custom designed for the Kenyan market. The E9 Kubwa seats 36 passengers with the option of 18 standing passengers.
Kenyan logistics startup Sendy reportedly shutting down
Sendy, the Kenya Fulfillment and logistics startup is reportedly up for sale. Techcabal reports that the startup is currently at an advanced stage with an unknown potential buyer and is hoping to make the official announcement soon.
EMURGO Africa invests $250K in carbon market technology startup Changeblock
Changeblock, a pioneering carbon market technology company, aims to revolutionize the carbon trading landscape by leveraging the power of blockchain technology.
Oikocredit invests in Witti Finances to support financial inclusion in Côte d’Ivoire
Oikocredit’s € 3 million loan will enable the Ivorian microfinance institution to expand and enhance its financial services.
Jumia étend sa présence en Afrique du Nord
Jumia, le leader du commerce électronique en Algérie a annoncé dans un communiqué rendu public hier son nouveau plan d’expansion.
Bridgespan Research Elevates Three Approaches for Closing the Impact Investing Gap in Africa
Africa-based and -led fund managers face unique obstacles that impede their ability to access capital for social impact, according to a recent research report published by The Bridgespan Group.
Swiss-Israeli fintech Okoora fuels Paysend's Israeli market entry
Okoora, the Swiss-Israeli fintech startup has partnered with Paysend to enable the global payments platform and card-to-card payments pioneer to enter the Israeli market.
Mastercard, Lipa Later join forces to expand Buy Now, Pay Later solutions In Africa
Mastercard has announced a strategic partnership with Kenyan Buy Now, Pay Later (BNPL) company Lipa Later to accelerate the expansion of BNPL payment services in Africa.
[Column] Dickson Naftali: Harnessing Africa’s youth population for inclusive growth
By empowering Africa’s youth and creating an enabling environment, we can transform the continent’s food systems and unlock its economic potential.
Flutterwave expands the US, Canada, Egypt and rebrands Send to Send App by Flutterwave
Flutterwave expands remittance capabilities in the US, Canada, Egypt and rebrands send to send App by Flutterwave.
Visa et Orange Bank annoncent un partenariat pour stimuler la croissance économique en Côte d'Ivoire
Visa et Orange Bank Africa, une banque digitale du groupe Orange, l’un des principaux opérateurs de télécommunication et de services numériques dans le monde, ont annoncé la signature d’un partenariat stratégique visant à stimuler la croissance économique en Côte d’Ivoire.
Verdant Capital funds Patasente Uganda
Verdant Capital to announce a revolving credit facility for Patasente Uganda, a digital trade services platform for farmers, warehouses, and factories.
L’Inde, nouveau partenaire de la Facilité pour l’inclusion financière numérique en Afrique
L’Inde, nouveau partenaire de la Facilité pour l’inclusion financière numérique en Afrique, s’engage à verser 2 millions de dollars pour stimuler l’inclusion financière numérique en Afrique.
[Nigeria] Compliance firm Prembly acquires Tunnel to empower businesses with secure financial data
Prembly, which bills itself as a leading compliance and security infrastructure company in Africa has announced its acquisition of secure data sharing company Tunnel.
[Nigeria] Remedial Health raises $12 million to deliver financial services for neighbourhood pharmacies
Nigeria’s Remedial Health, an e-health startup that develops solutions to make Africa’s pharmaceutical value chain more efficient, has secured US$12 million in an equity and debt funding round.
[Kenya] Health-tech Zuri Health secures additional investment from Marula Square
Zuri Health has secured additional Investment from Marula Square, a venture capital firm investing in visionary entrepreneurs across Africa.
Safaricom Shareholders approve two new subsidiaries to invest in Kenyan tech start-ups
These significant developments, approved at Safaricom’s 15th Annual General Meeting (AGM), represent a momentous step towards supporting tech entrepreneurs, fostering innovation, and fortifying Safaricom's role as a key enabler of the Kenyan tech community.
Microsoft-backed FAST Accelerator launches 2nd Cohort of AI Program for African Startups
Microsoft-backed FAST Accelerator Launches 2nd Cohort of Artificial Intelligence (AI) Program to Boost African Startups
[Kenya] Fntech firm Boya launches Virtual Visa cards for SMEs
The card was launched in partnership with VISA and Diamond Trust Bank and seeks to help businesses manage payments and expenses. with one virtual card solution.
Kasha has raised $21M series B led by Knife Capital to expand in Africa
East Africa’s leading digital health access platform, Kasha, has announced a successful Series B fundraising round of $21 million, led by Knife Capital, a pan-African venture capital firm based out of South Africa.
Signature d’un accord-cadre de coopération entre la BOAD et Côte d’Ivoire Innovation 20
La Banque et l’association Ci20 s’engagent à coopérer dans le cadre de toutes actions ou projets dans le domaine de la transformation numérique dans les Etats, où l’une ou l’autre Partie interviennent.
BOSS Money fait son entrée en Afrique francophone
L’application BOSS Money fait son entrée en Afrique francophone pour simplifier la réception, l’envoi et les transactions en devises locales dans toute la région
ITIDA and 500 announce scale up programme in Egypt to support pre-Series A startups
The Scale Up program is focused on providing strategies and experimentation methodologies to accelerate growth for Pre-Series A startups in Egypt.
Visa opens applications for its Africa Fintech Accelerator Program
Payments tech company Visa has opened applications for startups to participate in the first cohort of the Visa Africa Fintech Accelerator program.
Applications for cohort 4 of the ASIP accelerator program open
Selected startups will benefit from invaluable industry insights, mentorship, funding opportunities, and access to a global network of investors and corporate partners
World Bank awards 10 Southern African fintech startups $5,000 each
10 Southern African fintech startups have each received $5,000 (R94,020) from the World Bank to help bridge the gap in financial access for innovative emerging companies in underserved communities.
[Nigeria] Microsoft-backed FAST Accelerator launches 2nd Cohort of AI program to boost African tartups
Flapmax, a leading artificial intelligence (AI) company on a mission to enrich the lives of everyone on the planet through innovation, has announced the launch of the second FAST Accelerator program.
Fintech startup Okoora and MAX partner to deliver comprehensive currency solutions
Swiss-Israeli fintech startup Okoora has announced a strategic alliance with MAX, a leading Israeli credit card company to revolutionize the field of foreign exchange
Visa et GIM-UEMOA s’associent pour le développement de GIMpay
Visa et GIM-UEMOA s'associent pour développer GIMpay, un écosystème innovant des paiements pour la région de l'UEMOA.
Aptiway rejoint l'écosystème GIMpay pour renforcer la sécurité et la confiance dans les services financiers.
Le Groupement Interbancaire Monétique de l'UEMOA (GIM UEMOA ), organisme international dédié à la promotion des paiements électroniques sécurisés et efficaces a signé un accord de partenariat avec Aptiway.
[Column] Risana Zitha: B2B payments set to be the next focus for VC’s in Africa
While in the past, the lion’s share of funding gravitated to embedded finance fintechs and start-ups digitising the B2C value chain, the focal point of the next investment phase will be on B2B payment solutions incorporating the CFO tech stack.
Ayoba Super App and Adanian Labs Launch Accelerator Programme in Nigeria
Ayoba has partnered with Adanian Labs to launch an SME Accelerator program aimed at empowering and accelerating the growth of small businesses in Nigeria.
Aifluence named winner of the Visa Everywhere Initiative (VEI) Kenya Finals
AIfluence, the Kenyan AI-driven Influencer Marketing Platform has been the winner of the Kenya edition of the 2023 Visa Everywhere Initiative (VEI).
Mastercard et NAPS s'associent pour promouvoir l'innovation dans le paysage des paiements et du digital
Mastercard et NAPS, fintech marocaine de premier plan, ont signé un partenariat de long terme visant à développer des solutions de paiement innovantes pour les particuliers et les entreprises
[Kenya] Digital retail distributor Kyosk Digital acquires KwikBasket, expands into fresh produce market
Many farmers in Africa face numerous challenges due to fragmented and inefficient distribution chains for agricultural produce. Farmers often struggle to reach end-consumers, leading to significant production losses, low income, wastage, and high food prices.
Seedstars new program seeks to boost financial inclusion for women migrants
Seedstars, the global startup community and investment platform a new program to support fintech companies focused on promoting financial inclusion for women migrants.
[Ghana] Healthtech startup Berry Health raises $1.6m to combat health stigmas in Africa
Ghanaian health tech startup Berry Health has raised $1.6 million in a pre-seed funding round, a round which saw participation from large-scale U.S. fund Lightspeed Ventures and General Catalyst.
[Kenya] E-health startup MYDAWA raises $20m funding from Alta Semper Capital
MYDAWA, the Kenyan health-tech startup famous for its e-pharmacy platform has received a US $20 million capital injection from private equity investor Alta Semper Capital.
COLUMNS.
[Column] Ruth Njihia: Unleash your business potential with Google Cloud and Incentro Africa
In today's fast-paced world, data is the currency of success. Yet, many businesses across Africa face the daunting challenge of collecting, storing, analyzing, and visualizing their data effectively ...read full column here
[Column] Sandi de Souza: Why top-performing companies use AI to boost procurement
One Deloitte study found that high-performing procurement organisations are eighteen times more likely to have deployed AI capabilities than their lower-performing peers ...read full column here
[Column] Patrick Mweheire: Major investment drive sparks East African trade and development
East Africa is poised to unlock new pathways for trade, development and growth. This comes as businesses, regulators and banks find and drive new direct investment ...read full column here
INTERVIEWS.
[Interview] Vince Goncalves Regional Vice President Africa at ExecuJet MRO Services
ExecuJet MRO Services (ExecuJet) is a leading global multi-OEM MRO company with a strong presence around the world … read full interview here
[Interview] Caroline Mutuku, General Manager, Glovo, Kenya
n this interview, she discusses the outlook for the business environment, upcoming services, sustainability efforts, and more… read full interview here
[Interview] Renate Swanepoel, COO, INC. Networking
Renate Swanepoel is an entrepreneur, global networker and inspirational speaker that has helped thousands of people around the world to find their purpose … read full interview here