To help tackle the financing gap that women entrepreneurs still face IFC and the Women Entrepreneurs Finance Initiative launched a new call for applications for IFC ScaleX, that will provide an award of up to $25,000.
Lipa Later, one of it’s kind buy-now-pay-later (BNPL) company operating in Kenya, Rwanda, Uganda and Nigeria, has raised $12 million from a consortium of investors.
Nigeria's last-mile delivery startup Kwik Delivery, trading name of Africa Delivery Technologies SAS, announced today that its GMV and revenue for 2021 grew by over 400% year on year.
MARAMOJA Transport has opened its API to local fintechs and Insurtechs. Through a new partnership with Switchlink Africa, service providers will be able to connect with MARAMOJA's over 100,000 drivers and customers.
Afrikrea, an Ivorian e-commerce startup has raised $6.2M pre-Series A round led by Investisseurs & Partenaires. The startup has also rebranded to “ANKA”.
Nigerian credit management fintech startup BFREE has raised a US$1.7 million pre-Series A funding round and strengthened its management team ahead of global expansion.
Orange Ventures has opened applications for its Seed Challenge that will see the VC form award one fintech startup from Egypt with $570,000 in funding.
The National Information Technology Development Agency, through its subsidiary, the National Centre for Artificial Intelligence and Robotics, in partnership with Japan International Cooperation Agency, is set to launch iHatch.
Namibia-based B2B eCommerce startup JABU, which calls itself a last-mile distribution eCommerce company, has raised $3.2 million in a financing round.
The Covid-19 crisis has pierced through the fabric of every layer of society, leaving virtually no country unscathed. The consequences for businesses has been significant and African economies have had to make rapid changes to their way of doing business.
Kenyan fintech startup Alvin has raised a $740,000 pre-seed funding round led by Nigerian venture capital firm, Ingressive Capital.
The World Bank Group and the Consumer Technology Association (CTA) announced the winners of The Global Women's HealthTech Awards.
Ghanaian health tech startup mPharma has raised $35 million in a Series D round led by Citigroup Inc. The startup intends to use this new funding to hire more engineers to help grow its data infrastructure.
In 2021, Syndicate invested in 11 companies led by amazing founders across 7 different verticals like consumer and lifestyle, logistics, health, fintech, data and business intelligence, Agritech and identity management.
International cash payments platform Pipit Global and Cellulant have extended their partnership agreement to now include eighteen countries in Sub-Saharan Africa.
[Nigeria] The Tony Elumelu Foundation opens applications for its $5000 2022 Entrepreneurship Programme
The Tony Elumelu Foundation Entrepreneurship Programme is open to African entrepreneurs with business ideas or existing businesses under 5 years from all 54 African countries
Xcelerate, Inc. has signed a Membership Interest Purchase Agreement to acquire a 51% interest in AfiyaSasa Africa, LLC, ASA, a start-up medical technology and virtual health company.
The pooled funds comprise €7 million provided by the African Development Bank and a €3.5 million contribution by the European Union and the Organization of African, Caribbean and Pacific States.
Egyptian ride-hailing startup Swvl will offer 35 percent of its shares on the Nasdaq stock exchange through a merger with US SPAC Queen’s Gambit Growth Capital.
Koko Networks, a Kenya-based bio-fuel technology enterprise has extended its business to cover other fast-moving consumer goods, through a new tech platform that will capitalize on its established distribution networks in low-income neighborhoods.
Metro Africa Express (MAX), a Nigerian mobility tech startup, has raised $31 million in a Series B funding round.
The Board of Directors of the African Development Bank Group has approved an equity investment pool of €10.5 million toward the first close of the Janngo Start-Up Fund, a pan-African tech start-up fund.
Paylend, a Kenyan fintech startup focused on providing access to finance and digitizing MSMEs in Kenya announced it has raised $2 million seed investment from Next Chymia Consulting.
Since the beginning of 2021, Africa-based tech startups have raised more than $2.9 billion with Nigerian startups which are creating new products, services, and platforms raising $1.7 billion of this total or about 60% of it, a new report has found.
[Egypt] Financial wellness platform NowPay announces new partnership with world's biggest food and beverages providers
NowPay, Egypt’s leading financial wellness platform has announced partnerships with some of the world’s biggest names in the food and beverages sector, including McDonalds and KFC
FSD Africa Investments (FSDAi), the investing arm of FSD Africa, has today announced a £3m investment in Kenyan fintech firm IMFact.
[Kenya] Fintech startup Tanda inks deal with Twiga Foods to enable vendors vend its digital financial services
Kenya’s fintech startup Tanda has today announced a new partnership with Twiga Foods that will see Twiga vendors become a one-stop-shop for a variety of digital and financial services offered by Tanda.
Nigeria-based Ventures Platform has announced the first close of its $40 million pan-African fund to invest in market-creating innovations across Africa.
[East Africa Business Week] Bob Koigi: East Africa positions itself as investment destination of choice
The East African community continues to live up to its billing as a prime investment destination for investors.
Nigeria has moved a step closer to rolling out its landmark Nigeria Startup Bill (NSB) that will further deepen the country’s technology ecosystem and enable a sector on the cusp of exponential growth.
The end of year (fondly referred to as ‘ember months’) tends to bring about anxieties of different sorts among Nigerians.
A digital marketing agency is undoubtedly one of the most profitable and rewarding businesses you can operate in Africa for a number of reasons.
To spur private sector growth and promote access to finance in Kenya, including for women-owned businesses and businesses focused on addressing climate change, IFC announced a partnership with Bank of Africa Kenya.
Safaricom partnered with Google and Transsion, the company behind TECNO, Infinix and itel to add new devices under its Lipa Mdogo Mdogo smartphone financing plan
The pandemic exposed and perhaps exacerbated the financial inclusion gaps among the underprivileged who lack access to financial services, with statistics showing that close to two billion people worldwide do not have access to financial institutions.
Kenyan startup Wowzi has raised $2 million in seed funding to expand its digital marketplace across Africa. The round was led by 4DX Ventures.
Lagos- and London-based startup online learning platform, Edukoya has raised $3.5 million in a pre-seed round led by Target Global.
IFC and ADGM launch initiative to boost opportunities for women-led startups and businesses across MENA
IFC and Abu Dhabi Global Market (ADGM) launched She Wins Arabia, an initiative to help women-led startups across the Middle East and North Africa (MENA) get the advice, finance, and mentorship they need to grow.
Zwarttech, the Netherlands-based tech startup is changing its name to Zarttech to strengthen its service offerings and consolidate its market position.
Ericsson pledges to support one million young people by 2025 with access to digital learning and skills
Ericsson announces a major new commitment to empower one million children and young people by 2025 through access to digital learning, tools, content and development programs.
Au pied des dunes qui entourent Nouakchott, hommes et femmes se retrouvent, chaque soir, autour d’une viande grillée et d’un thé, pour un moment de détente.
The 5 healthcare startups were feted for their completion of the Home Grown Solutions (HGS) Accelerator for Pandemic Resilience
This has been quite a busy week for African startups. Egyptian fees management and digital collection platform, KlickIt, announced the closing of its first investment round to further develop its platform.
Sympl, the first ‘Save Your Money Pay Later’ platform in Egypt, announced it raised $6 million funding round led by Beco Capital along with A15, and Global Ventures. Sympl will use the proceeds to accelerate the growth of its merchant network.
Kenyan health tech startup Zuri Health has launched its operations in Senegal. The startup has partnered with Expresso Senegal to launch its operations in the country.
The program invites applications from tech entrepreneurs for the 2022 cohort of exceptional startups to join Adanian Labs in Kenya, Tanzania, Zambia, Nigeria and South Africa.
Nesta Challenges Afri-Plastics campaign calls for innovative solutions to tackle plastic pollution in sub-Saharan Africa
UK-based Innovation foundation Nesta Challenges has opened applications for the final strand of the Afri-Plastics Challenge.
In what it says is to further deepen mobility, Autochek Africa, the leading auto tech platform, has launched a dedicated brand new cars section on the Autochek website and mobile app.
4DX Ventures and Flutterwave Co-invest in Francophone Africa Payments Processor CinetPay in $2.4 million round
CinetPay, a digital finance platform that enables merchants in Francophone Africa to seamlessly accept and make payments, has announced a $2.4 million seed fundraising round.
IFC and the AECF launched the second round of a global competition for private sector and social enterprise projects to support investment, development, and job creation in Kenya's Kakuma refugee camp and hosting area.
Minly, the MENA region’s media & entertainment startup, announced the acquisition of Oulo, a Dubai-based celebrity shoutout platform focused on the Levant region.
FMO and Collaborative for Frontier Finance partner to launch an Emerging Capital Allocators project across Africa
The project will provide an opportunity for more aspiring fund managers, particularly in Ghana, Morocco and Tanzania, to gain the necessary experience to start raising capital, managing assets, and closing deals.
[Nigeria] TradeDepot Raises $110 Million To Extend ‘Buy-Now-Pay-Later’ Service to Retailers Across Africa
TradeDepot, the leading B2B eCommerce and embedded finance platform in Africa, has raised $110 million in an equity and debt funding round to support the delivery of Buy-Now-Pay-Later services to 5 million SME retailers
The Mastercard Foundation and the Dunin-Deshpande Queen’s Innovation Centre (DDQIC) have announced a partnership offering free virtual entrepreneurship training, and an opportunity to receive startup funding to more than 1,000 African students.
Egyptian fees management and digital collection platform, KlickIt, has announced the closing of its first investment round to further develop its platform.
IBM and David Clark Cause have announced Mavuno Link as the Middle East and Africa Regional Winner of the 2021 Call for Code Global Challenge.
The two plan to organize a training webinar that will provide SMEs insights from industry experts, and a masterclass on how to manage uncertainty from renowned author and academic Nathan Furr, Associate Professor of Strategy at INSEAD.
Following the launch of a partnership between Afreximbank and CNNIC last year, the two organizations have identified and selected businesses from across Africa that have demonstrated an ability to alter industries
Cloud Connect provides businesses with a secure, private, high performance, high availability connection to leading public cloud service providers, including Microsoft Azure and Amazon Web Services.
Nigeria’s leading autotech platform, Fixit45 has announced the acquisition of Parkit, a network of tech-enabled autocare and car wash centres.
Dutch development bank FMO partners with VC4A to launch a Ventures Lifecycle Support project across Africa
FMO has partnered with VC4A to work with local partners across Africa to create a more efficient network of support for early-stage ventures.
Airtel Africa annonce que sa division enterprise, Airtel Business, a conclu un nouveau partenariat avec Cisco afin de fournir un accès Internet sécurisé aux petites et moyennes entreprises (PME) en Afrique.
Airtel Africa announced that its B2B provider, Airtel Business, has formed a new partnership with Cisco to provide secure internet access to Small and Medium-sized Enterprises (SMEs) in Africa.
[Africa Tech Review] Duncan Mochama: Adanian Labs opens applications for its 2021 venture building program
Adanian Labs, a Pan African smart technologies venture studio with a mission to build 300 impact-driven startups across Africa opened applications for its 2022 Venture Building Program.
Exinity, the new wealth engine with an ambition to unlock the value of risk-driven trading for ambitious individuals, today launched Exinity Trader in Kenya.
Adanian Labs, a Pan African smart technologies venture studio with a mission to build 300 impact-driven startups across Africa has opened applications for its 2022 Venture Building Program.
Africa’s business accelerator GrowthAfrica has kicked off a circular economy focused accelerator programme targeting innovative ventures across Kenya, Uganda, and Ethiopia.
The startup raised $1 million in pre-seed funding from a wide range of investors, including two-time unicorn founder, Fredrik Jung Abbou (co-founder of Kry and Lendo), Norrsken Impact Accelerator and other prominent founders from across Europe.
New investments by Rwandan companies will benefit from a business financing initiative backed by the Development Bank of Rwanda and the European Investment Bank launched in Kigali.
[Column] Titilayo Adewumi: West Africa’s circular economy efforts at the forefront of fostering a more sustainable future
The vast majority of population growth across the continent will be concentrated in urban areas. WEF data indicates that more than 80% of Africa's population growth between now and 2030 will be in cities, with Lagos growing at a pace of 77 people every hour.
In a bid to digitize the public transportation system and provide safer, reliable and comfortable commute options across Africa, Toronto-based shared mobility company Treepz, announced its acquisition of a similar Ugandan bus company Ugabus.
Kigali-based agriculture startup AflaSight, partners launch innovative projects to improve maize quality in Rwanda
The World Food Programme (WFP), IFC, Kigali-based agriculture startup AflaSight, and Vanguard Economics launched innovative projects to help farmers and grain traders reduce prevalence of aflatoxins in crops and grains in Rwanda.
The programme seeks start-ups with innovations tackling hunger, improving food security and/or strengthening regional food systems. Selected enterprises will receive technical support, training, and mentorship and have an opportunity to receive grant funding of up to $100,000.
South African fintech firm Ozow has raised a US$48 million Series B funding round led by Chinese internet giant Tencent. Other investors Endeavor Catalyst and Endeavor Harvest Fund participating also participated in the round.
FMO partners with Northern Arc Capital to support young, female, migrant and COVID19-affected entrepreneurs
NASIRA is a risk sharing facility provided by FMO for local financial institutions lending to underserved segments.
Kenyan gaming startup Usiku Games has unveiled an amateur football mobile game to promote outdoor physical activities and encourage sportsmanship among youths in East Africa.
Wowzi, a Kenyan startup has announced plans to create one million gig jobs for African youth in 2022 through its online marketplace, after successfully delivering over 150,000 paid jobs in 2021.
[Nigeria Business Week] Andrea Ayemoba: National GDP for Q3 sees increase, amid growing economic concerns
The Nigerian Minister for labour recently has affirmed that more needed to be done in order for the employment crisis to be mitigated. He did allow that much has been done, but a lot of action still was required if the problem was to be tackled from the roots.
Le programme « Codage pour l’emploi » de l'AfDB va renforcer les compétences numériques des jeunes ruraux
Le programme « Codage pour l’emploi » de la Banque africaine de développement va former plus de 500 ambassadeurs de jeunes africains du numérique.
[Column] Cathy Smith: Social enterprises could hold the key to a prosperous and equitable future for Africa
Today, Africa is more prosperous than at any other time in history, with more children having access to education opportunities, fewer people living in extreme poverty, and most people living in democracies.
Sendy Fulfillment is a digital-enabled platform that relieves online sellers of logistics difficulties while also insulating them from the high operational costs that come with logistics.
Digital payments have shifted from being a nice-to-have for businesses to a necessity as more consumers prefer digital platforms as their primary payment method.
[Africa Tech Review] Duncan Mochama: MTN Rwanda selects Ericsson to deploy a Network Operations Center
There was some interesting news on African telcos that we covered this week . MTN Rwanda selected its longtime partner Ericsson, to deploy a Network Operations Center (NOC).
[South Africa] Crypto Valley Venture Capital initiates an investment strategy to build a blockchain accelerator for African startups
The African contingent of incubatees is reflective of Crypto Valley Venture Capital’s (CV VC) global investment strategy, to invest in blockchains’ wider applicability to solving problems and creating new markets.
Helium Health (Helium), the healthcare technology provider in Africa, announced it has completed the acquisition of Meddy, the GCC-based doctor booking platform, which has operations in Qatar and the U.A.E.
Israeli femtech startup illumigyn partners with Peramare Pharmaceuticals to bring innovative gynecological imaging platform to Nigeria
illumigyn, world's first remote gynecological imaging platform, announced its new distribution agreement with Peramare Pharmaceuticals Nigeria, to deploy 5,000 Gynescopes in Nigeria by 2026.
The Tony Elumelu Foundation (TEF) has selected 4,949 entrepreneurs from across Africa for its 2021 Entrepreneurship Programme.
The African Development Bank Group has approved a grant of $1.5 million to Mozambique to boost the development of local content.
South Africa's emergency marketplace startup AURA secures R62m Series A funding for global expansion
AURA, the African-based security and medical response marketplace secured R62 million in a Series A funding round, led by MultiChoice Group, KLT Holdings and Buffet Investments, positioning AURA favourably for its global expansion plans.
Co-creation Hub, Africa's largest innovation hub and Ojoma Ochai announce the launch of a new Creative Economy Practice.
IFC announced a partnership with Equity Banque Commerciale du Congo that will help these smaller businesses access local currency financing in the Democratic Republic of the Congo (DRC).
IFC a annoncé avoir conclu un partenariat avec Equity Banque commerciale du Congo pour accompagner la croissance des micro, petites et moyennes entreprises (MPME) en République démocratique du Congo (RDC).
Kenyan fintech startup Kwara has opened regional offices in the Western, Central, Rift Valley and Coastal regions of Kenya as part of their expansion in the country.
Ecobank Group has announced the finalists of the 2021 Ecobank Fintech Challenge.
Les finalistes, sélectionnés parmi près de 900 Fintechs candidates au Ecobank Fintech challenge 2021 participeront à une finale virtuelle qui aura lieu le mois prochain.
The latest figures from SEACOM, a leading pan-African ICT service provider released this week revealed that these attacks increased by 300% in 2021, compared to the same period in 2019.
No-code and low-code software development platforms are gaining popularity in recent times—especially among SMBs and SMEs—for their dynamic ability to quickly meet customisation and automation needs within limited budgets
A travers ce projet, Orange réaffirme sa volonté de contribuer au développement socioéconomique des pays dans lesquels il opère.
KeyTec, a disruptive fleet-tech startup, has partnered with LocoNav to capture the emerging and high-growth video telematics market throughout Africa.
AURA, South Africa’s leading security and medical response marketplace, has appointed David Myers as its Chief Operations Officer.