Flat6Labs, a regional seed and early-stage VC firm, has announced the second close of its Tunisia-based Anava Seed Fund (ASF), taking the total size of the fund up to US$10 million from US$3 million. The Anava Seed Fund was launched in 2017 in partnership with the Tunisian American Enterprise Fund, BIAT Bank and Meninx Holding,…
Two of Africa’s biggest startup stories of 2021 involve the billion-dollar valuations accorded to OPay, and Wave. Propelled by Chinese and American venture capital, each rose rapidly to own large shares of the financial services sector in Nigeria and Senegal respectively, primarily because of their sprawling mobile money operations. But Opay and Wave are just two among many companies…
Once the world’s leading producer of palm oil, Nigeria has seen an output decline over the last three decades. The country is the fifth largest producer of palm oil in the world, the main ones currently being Malaysia and Indonesia. CNN learns that a host of challenges are to blame for Nigeria’s palm oil production shortcomings,…
International development funding to Africa has a “colonial” approach that favors Western organizations at the expense of local civil society organizations (CSOs), a new independent report funded by the Vodafone Foundation says. Most donor resources go to intermediary non-governmental organizations (NGOs) based in the northern hemisphere, the report says, describing the system as one that is…
The University of Cape Town (UCT) online school has been recognized for its revolutionary educational innovations, having been named one of the 12 Top Innovators in The WorldClass Education Challenge at the World Economic Forum’s Sustainable Development Impact Summit 2021. The World Class Education Challenge debuted in May of this year on the World Economic…
For any Startup or business, it is necessary to keep in mind that no business plan or strategy is foolproof. For this reason, business schools that teach entrepreneurship teach that startups should aim to fail fast forward frequently and frugally. The key is to accept that some form of failure is inevitable but, the way…
Netflix has announced the acquisition of video game developer Night School Studio, as well as the release of five mobile gaming games in key European markets, as it seeks to diversify revenue sources amid increasing competition in the streaming arena. The company’s initial gaming studio acquisition, Night School Studio, is most known for its debut…
In June, Visa reported that the top market contributors for e-commerce in Sub-Saharan Africa (SSA) over the last three years were South Africa, Nigeria, and Kenya with Ghana also showing growth having replaced Kenya in the top three contributors in 2020. “The three leading markets in SSA are starting to mature, providing the region with an established…
Frogfoot, a licensed open-access infrastructure provider, has announced its acquisition of the Link Africa Western Cape FTTH (Fibre to the Home) network. The deal comes a few months after MetroFibre Networx purchased Link Africa’s FTTH network in Gauteng and KwaZulu-Natal. Frogfoot says in a statement that the deal will aid in solidifying the company’s position in…
Nigerian mobility startup Moove, which provides revenue-based vehicle financing to help individuals across Africa own their own vehicles, has expanded to Cape Town and is gearing up for further pan-African growth. Founded by British-born Nigerians Ladi Delano and Jide Odunsi, who have successfully built three other businesses in Africa over the last eight years through…
Paratus Group has announced that its brand-new data centre will open in Lusaka, Zambia on 1 October 2021. The new data centre in the East African country will offer colocation services – 24/7 connections for local and multinational businesses, together with a sophisticated range of digital and aligned services. Colocation Customers are given the option…
Nigerian cryptocurrency exchange Yellow Card has raised US$15 million in Series A funding to ramp up hiring and continue its expansion across the continent. Launched in 2018, Yellow Card makes it easy for anyone, anywhere in Africa, to buy cryptocurrencies like Bitcoin, Ethereum and USDT Stablecoin using cash, mobile money, card, or bank transfer. The company now…
We’ve heard a lot about the role of technology in pandemic education, and for good reason: Digital solutions enabled school communities to maintain learning through uncertainty and interruption none of us could have imagined. However, the triumphs of edtech have been paired with critical challenges. Since the pandemic closed schools in March 2020, school districts…
Night School Studio, the independent game developer known for narrative-driven titles like “Oxenfree,” announced today it has been acquired by Netflix. This makes it the first games studio the streaming giant has purchased. In Netflix’s announcement, Mike Verdu, vice president of game development, wrote Night School’s “commitment to artistic excellence and proven track record make…
An anonymous reader quotes a report from The Wall Street Journal : Facebook has come under increasing fire in recent days for its effect on young users and its efforts to create products for them. Inside the company, teams of employees have for years been laying plans to attract preteens that go beyond what is publicly known, spurred…
African Export-Import Bank (Afreximbank) has launched the pan-African payment and settlement system (PAPSS), a financial market infrastructure, to enable cross-border payments in local currencies across different markets in the continent. The Afreximbank, in a statement made available on its website on Tuesday, September 28, said PAPSS will underpin the implementation of the African Continental Free Trade…
Exactly three days before the official launch of Nigeria’s digital currency called eNaira, the Central Bank of Nigeria opens the website. Before now, CBN governor, Godwin Emefiele, had announced that the eNaira would be launched officially on Independence day, October 1st, 2021. According to the CBN, the digital currency is a legal tender just like…
The 2Africa consortium, comprised of China Mobile International, Facebook, MTN GlobalConnect, Orange, STC, Telecom Egypt, Vodafone and WIOCC, announced today the addition of a new segment to its subsea cable system – the 2Africa PEARLS branch – extending to the Arabian Gulf, Pakistan and into India. This extension will bring the total length of the…
An investment of about $280-billion will be needed for 35 cities across South Africa, Kenya, and Ethiopia to cope with the harmful effects of climate change by 2050, according to new research. A report released on Monday by the Coalition for Urban Transitions, which advises governments on economic development and climate change, says that Africa is…
A major new consumer and market insight report from multinational networking and telecommunications firm Ericsson titled Mobile Financial Services on the Rise reveals that nearly half of all consumers in Sub-Saharan Africa use mobile financial services in 2021 – a more-than three-fold increase in the last six years. The Mobile Financial Services on the Rise report also highlights the impact of…
WhatsApp is found to be working on expanding its multi-device feature to let users access the instant messaging app on multiple devices based on Android and iOS. At present, the feature works in beta as an opt-in offering designed for WhatsApp on the Web, desktop, and Facebook Portal. It allows users to access WhatsApp on…
LinkedIn earlier this month unveiled a new push around creators to bring more original content (and engagement) to its platform, but that’s not the only effort they are making to bring more activity to its networking site. TechCrunch has learned and confirmed that LinkedIn is also running a test around events — specifically, paid events. We were…
Mobile spyware is one of the most invasive and targeted kinds of unregulated surveillance, since it can be used to track where you go, who you see and what you talk about. And because of its stealthy nature, mobile spyware can be nearly impossible to detect. But now one Y Combinator-backed startup is building an app with the aim…
In the summer of 2019, Timilehin Ajiboye became intrigued with the idea of building a travel app after conversations with a circle of friends. One friend reached out to Ajiboye asking if he knew of any platform where she could find new, aesthetically pleasing places to dine in, visit and take pictures. And then, during a trip to Miami, he and…
Egyptian startup Sa3ar Technology Solutions, a platform that digitises auto-auctions deals, has been acquired by automotive marketplace Contactcars, a subsidiary of Contact Financial Holding. Founded by Adham Hosny and Hussein Hosny, Sa3ar Technology Solutions provides car valuation technology and a dealer-specific auction platform. The startup has just been acquired by Contactcars, Egypt’s leading automotive marketplace, in…
Moroccan e-heath startup DataPathology has raised MAD2 million (US$$223,000) to help it transform the pathological diagnosis system and improve services provided to practitioners and patients. Founded in 2020 by Hicham El Attar and Mohammed El Khannoussi, DataPathology fights shortage and delays of diagnosis of cancer patients in rural areas, providing healthcare practitioners with a complete solution to…
It appears that the authorities of the Federal Capital Territory (FCT), Abuja are set to commence a regime of licensing ride-hailing drivers and ensuring compliance from October 1st, 2021. This follows a series of clampdowns targeted at operators in the city for about 3 months now and a subsequent outcry. This is according to documents and materials…
Zoom has added a new feature called ‘stop incoming video’ that allows users to block video feeds of other participants in a meeting. With the latest feature, Zoom users in a meeting can easily disable all incoming videos. If you are using a restricted connection, this feature will help preserve bandwidth for shared content. Zoom has…
Sophos, a global leader in next-generation cybersecurity, has published research, “Phishing and Malware Actors Abuse Google Forms for Credentials, Data Exfiltration,” describing how cyber attackers – from entry-level scammers to advanced adversaries – abuse Google Forms to implement a wide range of attacks, targeting both organizations and individuals. “The extent to which cyberattackers abuse Google Forms…
The lifeline of every business is enmeshed in the number and interactions of stakeholders as well as their activities in relation to the business. These stakeholders include the suppliers of the raw materials needed for the business to manufacture its offerings, the employees or human resources who engage in the production and the customers who are the end…