MaxAB, a B2B e-commerce and distribution platform for food and grocery products that serves a network of conventional merchants in Egypt and Morocco, has announced the closing of a $40 million pre-series B equity transaction to support its growth throughout the MENAP area. The round included a number of new investors, including British International Investment…
The six businesses chosen for the second cohort of the Fintech Incubation Program have been announced by Co-Creation Hub (CcHub), in association with Google, Rwanda’s Ministry of ICT and Innovation, and Mojaloop Foundation. The three-month Fintech Incubation Programme is meant to assist young technology companies developing products aimed at boosting financial inclusion. Nine firms were…
Flexibility is currency in the new working world. Organisations and employees alike are eager to capitalise on the opportunities offered by technological advancements and shifts in working culture. We are witnessing a significant evolution in the types of work people do, and where and how work gets done, as work moves beyond traditional paradigms. The…
The MENA region’s and Egypt’s mass e-commerce solution, Kenzz, announces the successful completion of a US$3.5 million seed fund campaign. Outliers Venture Capital, a venture capital firm that supports early-stage outlier creators in the US and MENA, led the funding round. Other investors, including angel investors, were Foundation Ventures, Samurai Incubate, and HOF Capital, a…
Ampersand, an e-mobility provider of sustainable transportation solutions in East Africa, and Bboxx, a platform that facilitates access to vital goods and services, collaborate to expand Ampersand’s e-mobility program in Rwanda. The program is now being implemented in Kigali, Africa’s greenest city, after a successful initial experiment in the nation. Over the next few years,…
Hakeem Fahm, Honourable Commissioner of Science and Technology at Lagos State Government, will deliver the keynote address at the Nigerian Software Testing Qualification Board (NGSTQB) first Software Testing Conference in Nigeria codenamed ‘TestNigeria Conference 1.0’. Mr. Fahm is an experienced network infrastructure director with a demonstrated history of working in the information technology and services…
Applications are open for the fourth cohort of the Africa Digital Accelerator Program brought to you by SME Growth Lab AFRICA. Through this program, established business owners across African countries would share equal access to business training, mentorship, and support to take their businesses to a higher level. Successful applicants will have a remarkable experience participating in a…
Sophos, a global leader in innovating and delivering cybersecurity as a service, today launched new third-party security technology compatibilities with Sophos Managed Detection and Response (MDR) to better detect and remediate attacks with speed and precision across diverse customer and operating environments. The industry-leading service with more than 12,000 customers now integrates telemetry from third-party endpoint, firewall, cloud, identity, email, and…
To support the expansion of its activities, the Egyptian B2B trucking marketplace Trella has obtained an additional sizeable finance facility from ALMA Sustainable Finance (ALMA) and the US International Development Finance Corporation (DFC). Trella, a transportation marketplace and B2B technology platform, links shippers and carriers in real-time. The firm, which operates across the Middle East…
A new dangerous variant of the well-liked YoWhatsApp WhatsApp messaging mod was found by Kaspersky researchers. This mod spreads the infamous Triada mobile Trojan, which may download other Trojans, issue paid memberships, and even steal WhatsApp accounts. It is well-known for having functionality that the official software does not provide. In the past two months,…
Contents Crypto Adoption Globally and in Africa Crypto Adoption in Africa: The Opportunities Which Countries in Africa Are Using Cryptocurrency the Most? What Africans Do With Their Crypto: Use Cases Top Cryptocurrencies Traded by African Users Crypto Adoption Challenges in Africa Conclusion: How to Expand Crypto Adoption in African Regions Crypto Adoption Globally and in…
The pre-seed raise by Herconomy will go down in history. The startup’s funding story rocked the tech industry last year. The community-based startup raised $600,000 in funding within 24 hours of Ife Durosimi-Instagram Etti’s post in order to scale its SaaS solution, which provided women with ongoing access to career prospects and discounts from selected…
In an effort to promote the service’s use as more than just a business application, Microsoft changed the name of its Office 365 service to Microsoft 365 in April 2020. According to the company’s FAQs page, Microsoft will now be eliminating the remaining Office branding from its Word, Excel, PowerPoint, and other apps. Users can…
The 2022 MEST Africa Challenge shortlist includes 36 firms from throughout the continent, 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…
Targeting small and medium-sized businesses with a focus on sustainable energy solutions in Ghana, Malawi, Morocco, and South Africa, Siemens Stiftung is launching its inaugural “SESA Call for Entrepreneurs” on behalf of the Smart Energy Solutions for Africa (SESA) Consortium. Applications are especially encouraged from women-owned businesses. Access to dependable, affordable, and sustainable electricity has…
Coinbase announced on Tuesday that it would use Google’s cloud infrastructure, while Google said it would rely on Coinbase to start allowing some users to pay for cloud services using cryptocurrencies early in 2023. Despite still being down more than 70% for the year, Coinbase shares increased as much as 8.4% on Tuesday. In a…
KuCoin, the leading global cryptocurrency exchange successfully completed 5 years in the industry as the ‘People’s exchange’, this year. Since its inception, the company has consistently witnessed fast paced growth. Currently, KuCoin serves 20 million crypto users in more than 200 countries and regions around the world. Along with the rapid growth in number of users,…
Change is constant. Private individuals and businesses experience this phenomenon. A disrupted environment is an atmosphere where unexpected events occur in a way that influence processes and procedures. Disruption could be positive or negative. For instance, an influence in marketing that led to tremendous sales is a disruption with a positive impact. Disruption can occur at any…
Nigerian health technology company Lifestores Healthcare has raised $3 million in a pre-Series A round led by Health54, the CFAO Group’s healthcare-focused corporate venture capital arm. A few previous investors as well as some new ones, such as Lionbear Conduit Capital, participated in the round, with Aruwa Capital Management serving as the supporting lead. The…
Booking site for beauty services in Egypt, Glamera, has secured a US$1.3 million seed round to support the growth of its business in the MENA region. Glamera, which was introduced in September 2019, enables users to schedule appointments with hundreds of contracted service providers in all areas of beauty, including salons, clinics, spas, gyms, and…
At the Pan African University Institute for Basic Sciences Technology and Innovation (PAUSTI), the Incubation Centre of Excellence, funded by the African Development Bank (AfDB), has opened its doors in an effort to foster and foster innovation, creativity, entrepreneurship, and connections with the private sector. Four master’s and PhD programs are offered through PAUSTI, a…
As business owners, we frequently encounter challenging circumstance when not every aspect of our organization is operating as it should to be scalable and attract investment. However, we are also aware that when launching a firm, we frequently lack the necessary manpower, financial flexibility, or industry-specific knowledge, making it difficult to find possible partners or…
In order to support its expansion goals and upcoming M&A acquisitions in MEA, Egypt-based health tech company Vezeeta, the leader in health-tech innovation in emerging countries, has raised new money. This finance was made possible by long-term partners and investors. Vezeeta is a healthcare app that patients may use to schedule doctor visits, obtain prescription…
IoT device maker CardoO, based in Egypt, has raised a $660,000 seed round of funding, which was led by The Alexandria Angels and included angel investors from Saudi Arabia, Sofico Investments, and the European Bank for Reconstruction and Development (EBRD). By enabling MENA customers’ access to the newest cheap consumer electronics and Internet of Things…
For businesses in Africa, Be Mobile Africa has created a new multi-currency business banking platform. Customers will be able to use the site to apply for and open business accounts in USD and EUR within 48 hours without having to physically visit a bank location. With the help of the neobank’s new service, businesses will…
Stears, a Nigerian data startup, has completed a $3.3 million seed round in order to grow throughout other African nations. Leading the round was MaC Venture Capital. Additionally participating were Serena Ventures, the Luminate Fund of the Omidyar Group, Melo 7 Tech Partners, and Cascador. One of the 60 companies chosen for the Google for…
At the Africa Financial Technology Congress, which took place on October 1, 2022, in Lagos, Kolomoni, a completely digital bank that offers financial services to the unbanked through its consumer banking platform, was voted Africa’s Most Innovative savings/investment platform. Cintrust Microfinance Bank, a division of the integrated financial technology company CapitalSage Technology Limited, is the…
OceanHub Africa (OHA), the first and only ocean impact-focused business accelerator on the continent has chosen six ocean-related startups. The Ocean Health Alliance (OHA) is an ocean-impact catalyst initiative that supports ocean-impact ventures through an acceleration program and the leadership of a global ocean-minded ecosystem. OHA promotes a sustainable and prosperous economy that would effectively…
The world’s leading provider of digital payments, Visa, and Geidea, an Egyptian Fintech business, have announced a strategic agreement to offer Geidea’s cutting-edge payment solutions to the Egyptian market. To provide smooth and secure payment options for merchants and SMEs across the nation, Visa will invest in enhancing existing payment solutions using Geidea’s Point-Of-Sale terminals….
In a deal between KCB Bank Kenya and BasiGo Ltd, an e-mobility startup and financing firm providing electric bus services to sub-Saharan Africa, KCB customers in the public service vehicle market will now have access to flexible financing alternatives. Customers will benefit from up to 90% finance and a 36-month repayment extension through this cooperation,…