The Visa Everywhere Initiative (VEI), a global open innovation initiative and competition for start-ups and fintech companies, has announced the winner as Nigeria’s ThriveAgric, an innovative start-up that champions technology to revolutionize the payments landscape for smallholder farmers. The global finale, which took place in Qatar during the FIFA World Cup 2022, was preceded by…
Zeraki, a Kenyan educational technology platform that provides digital learning and school data analytics, has raised $1.8 million in early funding to support regional expansion and product catalog growth. The round was co-founded by Melvyn Lubega, co-founder of the Australian edtech unicorn Go1, and was led by Acumen Fund with participation from Save the Children…
In order to promote cross-border trading of securities throughout the continent, seven African stock exchanges on Wednesday started an integration experiment in the Ivory Coast. Nigeria, Mauritius, Morocco, South Africa, Kenya, Egypt, and West Africa’s stock markets are all a part of the effort, which is known as the African Exchanges Linkage project. Later on,…
The depreciation of the Rand against the US Dollar reached its highest point of the year in early November, at R18.41 to the Dollar. According to a recent Moneyweb piece, this can be attributed to a number of reasons, with interest hikes in the US and the promise of higher yields causing investors to move away…
An initial $200 million has been pledged to the Mastercard Foundation Africa Growth Fund (MFAGF), a fund of funds that works through African investment vehicles to promote early-stage, growth-oriented SMEs on the continent. The Mastercard Foundation Africa Growth Fund seeks to provide young people, especially young women, with access to respectable and worthwhile employment. The…
The $25 million venture debt fund will be launched by Future Africa, a venture capital firm with its headquarters in Lagos, in partnership with TLG Capital, an open-ended credit fund with its headquarters in London. The fund formed from TLG’s current funds will assist Future Africa’s portfolio companies in maintaining their runway in a fundraising…
A new update to the well-known messaging application Telegram has been released, bringing with it a number of new features and enhancements. The new sign-up method, which does not require a phone number, is one of the significant improvements that are being implemented. Up until now, users had to provide their mobile number in order…
Startups have become vital engines of change that can have an outsized impact on an economy. They are crucial in fueling innovation and enhancing economic and digital competitiveness. They improve access to products and solutions while significantly contributing to employment. In recent years, amid global economic volatility and uncertainty, Africa’s startup ecosystem has shown continued…
A $2 million seed funding round headed by Stillmark and Jack Dorsey co-founded payments company Block has been secured by Gridless, a bitcoin mining business that helps develop new energy sources in remote East African areas, the company said on Tuesday. The financing would help the business spread its bitcoin mining operations throughout African markets….
Users will be able to examine photographs and identify faces thanks to a new “Search” button that Google Photos is testing for its Android app. It is anticipated to take the place of the Photos app’s Lens button. For further information about a specific subject in a photo, users must currently tap a “Lens” button…
Women-led small to medium enterprises (WSMEs), as well as community enablers and entrepreneurship support programs in Africa, are encouraged to apply for the Enhancing Women Entrepreneurship in Africa (EWEA) program’s mentorship and skill-building workshop series. African women entrepreneurs have an estimated $42 billion financing deficit across all business value chains, which presents a number of…
The second closing of the new $25 million fund managed by South African seed capital firm 4Di Capital has recently been finished. In order to form the fund with DotExe Ventures, the Mauritian conglomerate IBL Group provided an undisclosed sum through its investment vehicle, IBL Link Investments. A group of business owners established the venture…
During a recent visit to Heifer International’s operations in Africa, Heifer’s new President and CEO, Surita Sandosham, reaffirmed the commitment of the organization to elevate 10 million smallholder farming households globally out of poverty and into economic self-reliance by 2030, in line with the United Nation’s Sustainable Development Goals (SDGs). Sandosham visited Africa as the…
Kelvin, the leading collaborative control software company delivering industrial intelligence, has bolstered its executive leadership team with strategic hires and internal promotion. The company is delighted to announce that Suhail Jiwani has been promoted to Chief Technology Officer; Sheena Chandra has been appointed Chief Strategy and Business Development Officer; and Citalouise Geiggar has been appointed…
The social commerce startup Kapu from Kenya has announced the raising of $8 million in early money. As food costs rise nationwide, the firm, which has emerged from stealth, wants to make it easier for Kenyan consumers to shop for food. Sam Chappatte, a former executive vice president of Jumia Group, founded the company. Through…
For its second batch of the VFA Fintech Product Management Bootcamp, Venture for Africa (VFA), an immersion program and talent community designed to help top local and international talent transfer into the African startup ecosystem, is now taking applications. A 12-week program called the VFA Fintech Product Management Bootcamp is aimed to upskill current and…
According to Mrs. Zainab Ahmed, Minister of Finance, Budget, and National Planning of Nigeria, the 2022 Finance Bill contains a provision to tax cryptocurrencies and other digital assets. In an unusual digital event on Thursday, Zainab Ahmed updated the National Economic Council (NEC) on the fundamental elements of the 2022 Finance Bill, according to a…
· Introduces Sophos Marketplace and $1 Million Breach Protection Warranty · Sophos X-Ops Identifies LockBit 3.0 Similarities to BlackMatter; Attackers Use Pentesting and Credential Theft to Evade Detection, Requiring Specialized MDR Skills to Spot Them Sophos, a global leader in innovating and delivering cybersecurity as a service, has announced the general availability of Sophos Managed Detection and Response (MDR) with…
Africa’s beauty and personal care market is expanding rapidly as a result of its growing young and fashion-conscious population, rising purchasing power, and urbanization. The market’s potential has attracted major brands in recent years, with Fenty Beauty by Rihanna and LVMH being the most recent entrants. Niche local brands are also arising to provide customized…
The latest edition of the Alibaba Netpreneur Training (“ANT”) Program has graduated 86 African entrepreneurs, according to Alibaba Global Initiatives (“AGI”). The Africa-specific edition, which ran from mid-October to mid-November, was supported by the Africa’s Business Heroes prize competition, a philanthropic initiative that aims to support and inspire the next generation of African entrepreneurs. Ritalee…
Google held graduation ceremonies in Nigeria, Kenya, and South Africa to honor the 5,000 entrepreneurs who completed its Hustle Academy training program. Google also announced a new speaker series at the events in which successful African entrepreneurs share lessons and advice, demonstrating the company’s commitment to assisting entrepreneurs and small businesses in thriving. The Hustle…
Sophos, a global leader in innovating and delivering cybersecurity as a service, today published findings of a new survey, “The Reality of SMB Cloud Security in 2022.” The survey found that, among Infrastructure as a Service (IaaS) users, 56% experienced an increase in the volume of attacks on their organization when compared to the previous…
After successfully completing trials of the revolutionary technology over the previous 11 months, MTN Zambia has now launched its 5G network, making it the first mobile operator in Zambia to offer 5G services commercially. In January 2022, MTN Zambia started testing 5G; as of present, a commercial service is available in six Zambian cities. Ralph…
The gaming business in Africa is currently quite fragmented, consisting of only a few tiny studios, but it is still “the next big thing” because of factors like the relative youth of the population on the continent. Sub-Saharan Africa is one of the regions with the fastest-growing mobile gaming markets in the world, according to…
Three young agric-tech innovators in Nigeria have emerged final winners of this year’s Agriculture, Youth and Technology (AYuTe) Africa Challenge Nigeria, an enterprise development program initiated by Heifer International to identify, nurture, and support innovative, relevant, and technology-driven agric-centric enterprises that grow, scale and help smallholder farmers to thrive in Africa. Announcing the winners in…
Orda, a Nigerian company that develops cloud operating systems for restaurants, has raised US$3.4 million in a seed round to further digitalize the food industry on the continent. Guy Futi, Fikayo Akinwale, Mark Edomwande, Kunle Ogungbamila, and Namir El-Khouri founded Orda in 2020 with the goal of assisting small-scale African restaurants in growing sustainably. After…
As part of a holistic ecosystem plan that also sees it create an office in the nation and hire Amal Enan as a partner in Egypt, the international venture capital firm 500 Startups has teamed with the Egyptian IT Industry Development Agency (ITIDA) to operate a number of programs. Venture capital firm 500 Global manages…
Applications are now being accepted for the ygap Kenya Accelerator Programme, which aids businesses in developing and validating their business models, achieving financial sustainability, and expanding their community impact. A needs assessment and bootcamp are the first steps of the ygap program. It then offers ongoing accountability and business development sessions, strategic and operations coaching,…
An early-stage venture capital business called LoftyInc Capital Management has announced the final close of its LoftyInc Afropreneurs Fund 3 (LAF3), which closed out at US$14.3 million. The fund was oversubscribed. As a venture capital company with its headquarters in Lagos, LoftyInc Capital Management aims to invest in industries such logistics, printing services, business services,…
An African technology company called Cassava Technologies has revealed that Kigali, Rwanda will be the site of its first data center. The data center will be designed specifically to accommodate the region’s expanding demand and will have a 2MW IT load. According to Tesh Durvasula, CEO of Africa Data Centres, “it is an exciting time.”…