Entersekt, a South African fintech that has developed technology that protects millions of financial services customers worldwide, has received funding from US-based private equity firm Accel-KKR to accelerate its roadmap and fuel expansion into new markets. Entersekt, a global payment security company headquartered in Cape Town, is a global authentication market innovator, with recent market…
Despite the continent’s technologically savvy population, financial exclusion remains a problem. However, the challenge of regulatory influence and industry acclimatisation came with the launch of fintech startups. In 2018, a financial expert and tech investor thought it was difficult for fintech startups to integrate with banks — a necessary partnership for the former to successfully…
CinetPay, an Ivory Coast-based startup that provides a digital finance platform that allows merchants in Francophone Africa to accept and make payments seamlessly, has raised a US$2.4 million seed funding round from 4DX Ventures and Flutterwave to expand its sales and marketing efforts across nine markets in West and Central Africa. CinetPay has processed over…
According to Orange Cyberdefense, Europe’s largest managed security services provider, there has been a 13% increase in cyberattacks on enterprises over the last year, with a rise in ransomware incidents and, for the first time, a noticeable wave of attacks against mobile devices. The Security Navigator 2022 provides a detailed analysis of more than 50…
Africa is the world’s most censored region, with ten countries shutting down social media this year. According to cybersecurity firm Surfshark, social media censorship cases worldwide decreased by 35% this year, from 29 in 2020 to 19 in 2021. Despite a significant decrease in cases, internet outages impacted approximately a quarter of a billion people….
Alphabet’s Google announced on Wednesday that it will give an additional bonus to its employees worldwide this year, postponing its return-to-office plan. A company spokesperson told Reuters that Google will give all employees, including the company’s extended workforce and interns, a one-time cash bonus of $1,600 or equivalent value in their country this month. The…
Minly, an Egyptian media and entertainment startup, has announced the acquisition of Oulo, a Dubai-based celebrity shoutout platform focusing on the Levant region, as part of its MENA expansion. Minly, which was co-founded last year by Mohamed El-Shinnawy, Tarek Hosny, Bassel El-Toukhy, Tarek ElGanainy, and Ahmed Abass, allows users to purchase personalised video messages and…
Kenyan President Uhuru Kenyatta has approved a legislative reform that will allow the central bank to supervise digital lenders and rein in lenders who violate customer privacy. In a statement, President Uhuru Kenyatta said he had signed the Central Bank of Kenya (Amendment) Bill into law. “The amended Central Bank Act, 2021, empowers the Central…
Autocheck Africa, the leading auto tech platform, has added a brand new cars section to its website and mobile app. Customers can now access digital financing solutions for brand new cars and trucks with repayment terms of up to 60 months and the lowest interest rates in the market from regional partners such as Ecobank…
Bento, Nigeria’s digital payroll and human resource management platform, is expanding to Ghana, Kenya, and Rwanda, with plans to open offices in six more African markets over the next year. Bento’s next phase of growth will take it to Egypt, South Africa, Uganda, Tanzania, Angola, and Ethiopia by the end of next year. Bento is…
uLesson, a Nigerian ed-tech startup, has raised $15 million in Series B funding, which it will use to expand its team and improve services for its growing community of African learners. uLesson, founded in 2019 by serial entrepreneur Sim Shagaya, provides live online classes with expert tutors, video lessons, and personalized live homework help for…
Long before tech startups democratized stock market investing, anyone looking to invest in the stock market needed a substantial amount of money. However, with the entry of startups such as Risevest, Bamboo, and Chaka, this has changed. Nigerians could now buy stocks with as little as $10 (5,000) for the first time. Despite the fact…
Amazon has announced the closure of Alexa.com, its website ranking tool that has been in operation for the past 25 years. The service, which offered a paid subscription with SEO research and analysis tools, will discontinue providing website statistics and rankings next year. According to Amazon, after Alexa Internet is decommissioned, the service’s API will…
Nigeria received the largest share of the $4 billion in startup funding that Africa, in particular, attracted in 2021, with $1.37 billion. Four countries emerged at the top, as expected: Nigeria, South Africa, Egypt, and Kenya. They accounted for 80% of total capital raised on the continent up until the end of November, with Nigeria…
According to the latest Sensor Tower report, global consumer spending on apps is expected to reach $133 billion in 2021. This implies a 19.7 percent year-over-year (YoY) increase from $111.1 billion in 2020, nearly matching the 21 percent YoY increase in consumer spending in 2019. TikTok will be the most profitable app in the world…
Platform for financial services for gig economy workers ImaliPay has made South Africa its third major African market, following Nigeria and Kenya, with the goal of assisting more African gig economy workers in improving their financial security and shaping their journey to financial freedom. Tatenda Furusa and Sanmi Akinmusire co-founded ImaliPay in 2020 to provide…
Twitter announced today that it is testing a feature that will transform its in-app explore page into a TikTok-style video feed, complete with a “For You” tab. This feature is currently being tested on both Android and iOS for users in select countries who use Twitter in English. “We’re testing out a revamped, more personalized…
Although the domain name bitcoin.org was registered on August 18th, 2008, it wasn’t until October 31st of that year that a link to Bitcoin: A Peer-to-Peer Electronic Cash System (its white paper) was posted online. It was written by the enigmatic Satoshi Nakatomo, the legendary Bitcoin creator whose identity is still unknown to this day….
Filkhedma, an Egyptian home services marketplace, has raised a bridge round of funding from Cairo Angels in preparation for the announcement of a “significant milestone.” FilKhedma is an online marketplace for home maintenance and improvement services such as plumbing, carpentry, electricity, air conditioning, painting, and appliances, founded in 2014 by Omar Ramadan. Before receiving one…
Kwara, a Kenyan startup that is assisting in the transformation of traditional savings cooperatives into modern digital banks, has raised a US$4 million seed funding round to advance the development of its neobank app ahead of its upcoming release. Kwara, founded in 2018 by Cynthia Wandia and David Hwan, is a digital banking platform that…
Visa, the world’s largest payment processor, launched a global crypto advisory service for clients such as banks and merchants on Wednesday, as the adoption of digital currencies accelerates. Visa’s move comes amid unprecedented investor demand for cryptocurrency services, and the company’s latest offering is aimed at financial institutions looking to attract or retain customers with…
Google announced Tuesday that it is shutting down a network of approximately one million hijacked electronic devices used worldwide to commit online crimes, as well as suing Russia-based hackers the tech giant claims are to blame. The so-called botnet of infected devices, which was also used to stealthily mine Bitcoin, has been cut off from…
According to The Information, Apple CEO Tim Cook signed an agreement with Chinese officials worth approximately $275 billion to avert threats that would have hampered the company’s devices and services in the country. Apple did not immediately respond to a request for comment from Reuters. The five-year agreement was reached during Cook’s visits to China…
Africa No Filter, a narrative change organization, and Meta, formerly Facebook, have announced a collaboration to launch the “Future Africa: Telling Stories, Building Worlds” program, with the goal of increasing the use of Virtual Reality in African storytelling. The program will provide grants and mentorship to help Extended Reality storytellers create new and compelling content…
Conciliating innovation and regulation is perhaps the single most significant source of concern for tech titan leaders and startup founders worldwide. This is more common in Africa, where regulatory cultures frequently stifle innovation. For example, in Nigeria’s fintech space, innovation has accelerated in recent years, with at least three unicorn startups launched during this time…
Mastercard has reaffirmed its commitment to the UAE and the region by expanding its regional footprint and announcing a series of leadership changes designed to advance the company’s presence and operations while building on its 35-year growth and innovation journey. Mastercard has been at the forefront of digital transformation and payment technology innovation during this…
Over the last year, there have been several changes in the economies and structures of African countries. Due to the COVID-19 epidemic, several people were forced to stay at home and go primarily cashless. Africa’s Fintech stepped in to help, providing Africans with cutting-edge technologies that allowed them to access the best financial services available….
The KnowBe4 and ITWeb Ransomware Survey investigated the South African organization and discovered that ransomware and cybercrime are increasingly affecting organizations on the continent. While many businesses (32%) will be attacked in 2021, some multiple times (12%), 64 percent believe they are prepared, and 67 percent will not pay the ransom. According to Anna Collard,…
Despite the fact that SMEs contribute significantly to the Nigerian economy and account for 48 percent of the country’s national GDP, as well as 96 percent of businesses and 84 percent of employment, it is still difficult to launch a startup in Nigeria. There are, however, some SME-friendly tools and solutions that can alleviate some…
The Nigeria Tech Summit is the world’s most exclusive event featuring tech investors, entrepreneurs and influencers creating or leveraging platforms to advance the future of Nigerians. The summit aims to offer on-site workshop training, Networking round tables, Live Q/A sessions with speakers and sponsors and It also serves to teach fundamentals of ecosystem building within the region….