![[Africa Tech Review] Nixon Kanali: Pan-African VC firms continue to invest in African startups](Images/Key Persons/Nixon_Kanali_.jpeg)
[Africa Tech Review] Nixon Kanali: Pan-African VC firms continue to invest in African startups
Another busy week for tech in Africa especially with VCs announcing new investments in a number of African tech startups. Pan-African venture capital fund Launch Africa Ventures announced the close of its $36.3 million fund, which it has primarily used to invest in B2B and B2B2C startups across Africa. TLcom, the Africa-focused venture capital firm also appointed Eloho Omame as a Partner, bolstering its capabilities as it ramps up deployment of TIDE Africa Fund II, its new $150mn pan-African tech fund.
African startups were also in the news this week. Rwanda’s Toto Safi and Nigeria’s Well of Science were among the finalists in £1.1m Afri-Plastics Challenge. Fintech startup PocketApp secured AIP for Mobile Money Operator license in Nigeria. Still in Nigeria, at-home lab testing startup HealthTracka raised US$1.5 million in funding to expand its operations into Kenya and Ghana. Wimbart, the London-based Public Relations agency specialising in Africa and emerging markets launched the fourth edition of its Office Hours Programme. AfricArena, the leading African series of tech events, also announced a partnership with FMO Ventures Program to support local startups. Fintech platform Nomanini launched a new supply chain finance solution called StockNow that connects FMCGs and financial service providers to serve Africa’s informal retailers at scale. Mastercard announced that Kasha, the purpose-driven digital retail and distribution platform has joined Jaza Duka, Mastercard’s micro-credit digital lending platform in Africa.
Egyptian fintech MNT-Halan announced the acquisition of Talabeyah, a B2B e-Commerce platform that offers FMCG supplies directly to small merchants, and retailers.
This week, cybersecurity firm Trellix released a new report revealing highlighting opportunities for diverse cybersecurity talents. IBM also announced plans to grant $5 million to public schools globally to better prepare for growing ransomware threat. Kaspersky researchers reported an ongoing campaign carried out by an advanced persistent threat (APT) group dubbed ToddyCat, which focuses on compromising multiple Microsoft Exchange servers using two malicious programs – Samurai backdoor and Ninja Trojan. During the inaugural Africa Cybersecurity Congress held in Nairobi, it was also revealed that Kenyans running online businesses and the increasingly ubiquitous payment portals are the latest target for cybercriminals.
Telesmart.io, an expert in global number and messaging services was this week selected by Liquid Cloud as its chosen number inventory management solution provider. Intertrust announced that the Africa Content Marketplace (ACOMART) will use Intertrust's ExpressPlay DRM cloud service to help protect Afrostream. The Nigerian Communications Commission (NCC) appointed Reuben Muoka, a journalist and consummate public relations practitioner, as the new Director of Public Affairs (DPA).
Other top highlights of the week include Telkom Kenya and Buy-Now-Pay-Later company Lipa Later this week unveiled a device financing plan that will make it easier for Kenyans to purchase smart mobile devices, and Showmax announcing revamped prices of its mobile subscriptions bought and paid for via M-PESA.
Nixon Kanali is the Tech Editor for Africa Business Communities.
