Leading Adtech platform Eskimi will be hosting a virtual conversation themed “Metaverse: Revolutionising advertising in a fast changing digital world” on Friday, 4th November 2022. The webinar will be led by top thought leaders in respective fields who will enlighten the public on the intricacies of the Metaverse and advertising as interests in exploring options…
The President and Chairman of the Board of Directors of African Export Import Bank (AfreximBank) Professor Benedict O. Oramah; High Commissioner of Namibia to Nigeria, H.E Humphrey Geiseb; Ambassador of Cote D’Ivoire to Nigeria and ECOWAS, H.E Ambassador Kalilou TRAORE; Dr Tony Luka Elumelu, Ag. Director of Private Sector Development at the ECOWAS Commission, Nigeria as well as…
SHELT has announced the opening of its very own SOC in Nigeria, where it will serve as a local extension to its overseas and already established 24/7 SOC operation. This launch comes amidst the growing need of SHELT’s Nigeria branch to step into serving the local clientele through a team that is locally present and…
The charity arm of cryptocurrency and blockchain infrastructure provider Binance, Binance Charity, has teamed with Utiva, an organization that provides technical education for young people in Africa. Through the new cooperation, 50,000 young people will receive technology education, and 1,000 Africans will receive scholarships for a one-year intensive skill training program. This educational program will…
Real estate co-ownership startup Seqoon, located in Egypt, raised $500,000 in a pre-seed round through Banque Misr’s pilot program to promote cutting-edge entrepreneurs in Egypt. Several eminent angel investors also took part in the round. Omar Eldessouky and Mohamed Elkhatieb founded Seqoon in 2022, which enables consumers to co-own parts of a vacation property. The…
Nigeria launching the Startup Bill is the latest buzz that has brought excitement to many including startup founders, employees and graduates. On October 19, 2022, President Muhammadu Buhari of Nigeria officially signed the Startup Bill into law, creating the Startup Act 2022. The Nigeria Startup Bill (NSB) project is a collaboration between the Nigerian tech sector and the Presidency…
With a focus on the unbanked, the Egyptian fintech firm Kiwe has received funding from valU, an EFG Hermes Holding subsidiary that offers a buy now pay later (BNPL) service and has operations in both Egypt and Saudi Arabia. Kiwe is a social payment app. Kiwe, a peer-to-peer money exchange app, was created in March…
Six African fintech businesses have been chosen as finalists in this year’s Ecobank Fintech Challenge in order to compete for the top prize of US$50,000 and admission into the Ecobank Fintech Challenge Fellowship program. The Fintech Challenge has offered entrepreneurs at various stages of development the option to work with Ecobank for the sixth consecutive…
Early-stage businesses operating in francophone African nations are eligible to apply for equity capital from Fuzé, a Digital Africa investment facility, up to EUR50,000 (US$48,000). President Emmanuel Macron introduced the Digital Africa initiative in 2018, a French government-backed organization that supports African tech entrepreneurs. Businesses can receive EUR20,000 (US$19,000) in capital through Fuzé, which is…
The introduction of affiliate Madica, a structured investment program for pre-seed stage technology startups in Africa, has been announced by Flourish Ventures, a global venture capital firm investing in entrepreneurs building mission-driven fintech businesses. With more than $500 million under management, Flourish Ventures supports entrepreneurs whose inventions improve the financial security and prosperity of individuals…
The first telehealth program in Kenya specifically designed for HIV prevention has been made available through the e-pharmacy platform MYDAWA. The University of Washington, Jomo Kenyatta University of Agriculture and Technology, Fred Hutch Cancer Research Centre, Jhpiego, and Audere have joined forces with MYDAWA to create the first end-to-end virtual healthcare solution for customers who…
Outstanding individuals and organisations in Africa shall be honoured as part of the activities lined up for this year’s Africa Tech Alliance Forum (AfriTECH 2.0) in Lagos, Nigeria. AfriTECH 2.0 is scheduled to be held on Wednesday, November 09, 2022 in Lagos, Nigeria; starting 9:00am under the theme: ‘Sustainability and The Company of the Future’. …
African Finance Ministers and Central Bank Governors were introduced to a new partnership that aims to increase financial inclusion for women-led businesses across the continent through the Affirmative Finance Action for Women in Africa (AFAWA) program of the African Development Bank and the Alliance for Financial Inclusion. The AFAWA-Alliance for Financial Inclusion partnership was introduced…
The hackathon‘s “Upside Education” topic was the foundation for its simultaneous occurrence in 5 nations throughout the weekend of October 15–16. In order to maximize learning and make it efficient, advantageous, and enjoyable for both teachers and students, the theme encouraged participants to investigate ways to use new technologies to create a parallel universe of…
The Moko Home + Living furniture company in Kenya has just raised $6.5 million to expand. The Serie B debt funding round was led by Talanton, an American investment group, and the Swiss investor AlphaMundi Group. Along with Talanton and Novastar Ventures, other partners were Blink CV and Kenya’s Victoria Commercial Bank, which contributed $2…
The second Africa HealthTech Challenge has been announced by the HealthTech Hub Africa, which was established by the Novartis Foundation at the Norrsken House in Kigali. It is looking for high-impact innovators with business-to-government focused solutions and business models with the potential to significantly improve population health at scale. The HealthTech Hub Africa is an…
Yellow Card, a pan-African cryptocurrency startup, has advanced the sector further by being the first on the continent to be given a license to operate as a Virtual Asset Service Provider in Botswana. The license was issued on September 29, 2022, by the Non-Bank Financial Institutions Regulatory Authority [NBFIRA], in compliance with Section 11 of…
As the firm grows its “Quick-commerce” branch, Glovo, one of the top players in global multi-category delivery, has opened its third micro fulfillment center in Nairobi, Kenya. Customers can use Glovo to place orders from their preferred supermarkets and local shops thanks to Q-Commerce. With the opening of the third micro fulfillment center, Glovo is…
A pan-African digital marketplace for business-to-business trade has been launched by Dooka in collaboration with Tradeshift, the worldwide network for digital trade. Dooka, which is offered on Tradeshift’s worldwide B2B commerce platform and which makes use of the Tradeshift® Marketplace Operator solution, makes corporate purchase as user-friendly and consumer-focused as home shopping. The Dooka marketplace…
In Kenya, SC Ventures, the innovation, fintech investment, and ventures arm of Standard Chartered, has begun operating Solv, a business-to-business (B2B) digital platform. This platform will combine several services to alter the profitability, growth, and operational efficiency for Micro, Small, and Medium-Sized Enterprises through an open and inclusive trade ecosystem along the MSME value chain…
Following a successful debut in August, Nigeria-based mobility fintech startup Moove—largest Uber’s car supply partner in EMEA—has raised GBP15 million (US$16.8 million) in funding from Emso Asset Management to expand up its UK operations. By providing revenue-based car finance to mobility entrepreneurs, the Nigerians Ladi Delano and Jide Odunsi of British birth founded Moove in…
The 2022 MEST Africa Challenge has chosen ten semifinalists, and the winner will receive US$50,000 in equity capital. MEST is a pan-African software and entrepreneurship training program, seed fund, and incubator that supports the establishment of technology firms all over the continent. It was established in Ghana in 2008 by serial entrepreneur Jorn Lyseggen. To…
Instagram, a social networking site owned by Meta Platforms, announced on Thursday that it would improve capabilities that allow users to block abusive and troll accounts. By extending a function introduced last year that only permitted the barring of any new accounts that they may create, all Instagram users will now be able to block…
In order to deliver Geidea’s sophisticated payment solutions to the Egyptian market, the company has established a strategic agreement with Visa, the global leader in digital payments. Geidea is one of the leading Fintech businesses in the region by market share. To provide smooth and secure payment options for merchants and SMEs across the nation,…
PwC is pleased to release the first PwC Africa Annual Review 2022 report which tells the story of a remarkable year and focuses on our impact, value creation, strategy and related performance for the financial year ended 30 June 2022. The report is a reflection of how our network of firms has navigated complexity, responded to…
Start-ups require capital to establish a business. Capital is the amount of initial investment plus any interest accrued early. The initial investment of a company initiative is the sum required to get things started. Both internal and external sources of funding are used by start-up founders. Many times, a lot of work goes into starting a business,…
The African IT sector has been growing steadily in recent years. With roughly a thousand acquisitions expected this year, venture capital on the continent is anticipated to surpass $7 billion, making it an anomaly in the current global funding slowdown. Startups continue to fail due to a lack of access to money, mentorship, and a…
B2B pharmaceutical platform i’SUPPLY, based in Egypt, has secured US$1.5 million in a pre-seed round to expand throughout the Middle East and Africa. Ibrahim Emam, Malek Sultan, and Moustafa Zaki founded i’SUPPLY in 2021 with the goal of digitising the pharmaceutical industry by offering a one-stop-shop solution to promptly anticipate and deal with supply chain…
Bumpa, a Nigerian e-commerce startup, has announced a $4 million raise in its recently concluded seed funding round. Plug & Play Ventures Commerce Fund, SHL Capital, Jedar Capital, Magic Fund, DFS Labs, FirstCheck Africa Angel Program, E62 Ventures, Club14, and Fast Forward Ventures also participated. Base10 Partners served as the round’s lead investor. Bumpa has…
More than 360 African entrepreneurs have signed up for the second class of the Alibaba Netpreneur Training program, which is run by Alibaba Global Initiatives (AGI), the professional training division of the Alibaba Group. Since its debut in 2019, the Alibaba Netpreneur Training Programme has successfully trained close to 1,500 entrepreneurs across Africa, Europe, Latin…