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,…
A Nigerian fintech startup called Vella Finance has announced the release of new payment tools designed to make it easier for business owners in Africa to manage their funds. Global Pay, Vella Boost, and Fintech as a Service are a few of them (FaaS) Vella was originally created as a platform to support the crypto…
A US$1.5 million pre-seed investment round has been closed by Egypt’s Partment, a prop-tech business that provides co-owned second homes. The funds will be used to improve the platform’s infrastructure and launch the MVP. Partment, a hassle-free option for second home co-ownership, was established in 2022. The firm offers end-to-end property management services, allowing customers…
The Social and Inclusive Business Camp (SIBC), an annual acceleration program created to assist the most promising high-impact African entrepreneurs grow up their firms, has chosen 43 inclusive African enterprises to participate. Through cutting-edge training programs and networking with other businesses, mentors, and prospective financial backers, the SIBC strives to empower entrepreneurs and forge lasting…
Oluyemi Obadare Chief Executive Officer at Certification Partner Global, West Africa has been accepted into Forbes Business Council, the foremost growth and networking organization for successful business owners and leaders worldwide. Oluyemi Obadare was vetted and selected by a review committee based on the depth and diversity of her experience. The criteria for acceptance include a track record of successfully impacting business growth…
Data modelling is a fundamental process in data engineering and analytics that entails designing and building data structures that accurately describe the relationships between data pieces. Effective data modelling is required for organising, storing, and analysing data in a way that supports corporate objectives while also providing useful insights and decision-making. In this in-depth post,…
South Africa is about to join Google’s 35 cloud regions and 106 zones global network. Through the use of Google Cloud regions, users can access a number of services from certain geographical locations, including cloud storage, processing engines, and key management systems. According to Google, customers in Africa are already utilizing the Cloud to solve…
The world’s first venture studio with a tourism focus, Purple Elephant Ventures (PEV), is based in Kenya and has closed a pre-seed investment of $1 million. The investment will be used by the venture studio to create at least three startups annually. PEV’s goal is to guide Africa’s tourism sector toward a more environmentally friendly…
The 2022 MEST Africa Challenge will begin with the regional pitch competition, which will feature 36 eligible technology startups from 5 different African nations. The Competition’s Upcoming Stage The MEST Africa Challenge and the next regional contests have received some important changes from MEST. The chosen firms will be divided into 4 primary groups for…
To speed up product development and client acquisition in Kenya and elsewhere, Kenyan agency banking as a service provider Tanda is now soliciting money through a pre-Series A round of fundraising. Tanda, which was founded in 2018, enables store owners to access inventory on credit and serve as their clients’ access points for services including…
InGame Sports, an Egyptian gaming and sports technology business, has raised approximately US$1 million in cash, in-kind assets, and grants in a pre-seed round to support its international growth and the introduction of new products. A first-of-its-kind gamified platform called InGame Sports offers football fans the ability to anticipate results and win thrilling rewards. The…
Today, Samsung Nigeria officially launched the Galaxy A04s into the Nigerian market. The launch of this device reinforces Samsung’s commitment in providing affordable yet quality devices that addresses the daily needs of consumers. The smartphone is packed with 4G/64 GB & 4G/128GB storage variants expandable to 1TB and runs on a One UI Core 4….
Business subject matter experts are warming up for 2022 Africa Tech Alliance Forum (AfriTECH 2.0) scheduled to hold on Wednesday, November 09, 2022, at Oriental Hotel, Lagos at 9:00 am (WAT). Mr. Chike Onwuegbuchi, the co-Convener of AfriTECH, said that the high profile speakers who will be unveiled soon will delve into the nitty-gritty of…
The first-ever sustainability-focused cohort of the MEST Express accelerator has chosen six impact-driven Ghanaian entrepreneurs to participate, and they will each get a grant of $5,000 in addition to various forms of support. Along with Pre-MEST and MEST Scale, MEST Express is one of three programs that MEST runs in collaboration with the Mastercard Foundation….
It is generally acknowledged that Lagos has a serious housing shortage issue. The state’s large size and high population density are the root causes of the housing shortage. With a population of 15.4 million, Lagos, the smallest state in Nigeria, is also the most populous metropolis in Africa. Lagos receives 123,840 visitors each day, making…
Algebra Ventures, an Egyptian venture capital firm with a MENA emphasis, announced the opening of its $90 million second fund in April of last year. A $54 million fund was invested in 21 firms around Egypt and the Middle East as a follow-up to its first round. Algebra Ventures anticipated reaching its first close in…
The Grindstone Accelerator in South Africa has teamed up with Naspers Labs to introduce GrindstoneX, a new all-female accelerator programme intended to increase the investability, scalability, and exit-readiness of women-led firms. Grindstone, a company founded in 2014 and jointly owned by Knife Capital and Thinkroom, focused on helping high-growth, innovation-driven firms achieve scale. The youth…
We’ve recently seen reports that the REvil ransomware gang is back online after the January 2022 arrests of several its members by Russian authorities claiming to dismantle the group and the November 2021 arrests of two members by U.S. authorities. While it remains to be seen if this re-emergence of REvil includes its most aggressive…
An organization in its early phase of existence is referred to as a start-up. Entrepreneurs that desire to create a product or service think there is a market for launching start-ups. Because start-ups often have high startup costs and low revenue, founders frequently look for money from a variety of internal and external sources, including personal savings,…
This week, MTN South Africa released a request for proposals (RFP) that will transform the MTN Headquarters into a fully “green” workplace in order to secure and obtain dependable energy. As part of the company’s larger Project Zero program, which investigates all forms of renewable energy on both a large and local scale, Phase 1…
The B2B e-commerce platform Mazaya, based in Egypt, has raised $5 million in pre-seed capital to develop its operations there and enter other markets and industry verticals. Mazaya, a company that was founded in December 2021, gives retailers and merchants of electronic products and home appliances more leverage by allowing them to quickly and effectively…
The Nigeria Innovation Summit (NIS) 2022, the hybrid edition, scheduled for Tuesday, October 4 to Saturday, October 8 2022, has received the support of critical industry stakeholders. Nigeria Innovation Summit in its 7th year is an annual event that brings together stakeholders from different sectors of Nigeria’s economy, governments, investors, policymakers, and players in the…
The pan-African Investing in Innovation (i3) program has chosen thirty African e-health firms to participate, providing them with a US$50,000 grant and access to market opportunities to spur growth-driven relationships with donors, industry, and institutional stakeholders. The i3 program, supported by Merck Sharp & Dohme (MSD), the World Health Organization Regional Office for Africa, AUDA-NEPAD,…
A list of 10 promising Nigerian startups that are overcoming the current obstacles and garnering attention in 2022 has been released by the world’s largest professional networking site, LinkedIn. This list’s main objective is to be a resource for job searchers who are willing to work for a cutting-edge startup, make a major contribution to…
The top non-banking financial services provider in Egypt, Contact Financial Holding, has agreed to provide Trella with a sizeable financing facility so it can develop its business in a number of ways. Trella, a transportation marketplace and B2B technology platform, links shippers and carriers in real-time. The firm, which operates across the Middle East and…
New research from the IDC reveals the latest cloud security trends in Nigeria The majority (72 percent) of Nigerian organizations are increasing their spend on information security 21 percent of organizations use a combination of on premises and cloud solutions. This is set to grow to 41 percent over the next two years. For Nigerian…
Small and medium-sized businesses (SMEs) are very important in Africa. An estimated 80% of jobs on the continent are held by the 44 million SMEs. Despite being crucial to the African economy, many businesses only have a limited amount of access to funding. Due to a lack of collateralization, traditional credit facilities like banks frequently…
A South African-based automated platform called iiDENTIFii has raised $15 million in growth capital to offer a remote digital biometric identification authentication method. African investment firm Arise, whose founding investors include Rabobank Partnerships, Norfund, NorFinance, and FMO, led the round. The size of this Series A in the African identity verification market is the largest…
Standard Bank and the SA SME Fund have backed venture capital firm Knife Capital’s new USD50 million African Series B expansion fund, Knife Fund III, along with other respectable investors. The Fund’s mission is to close a crucial funding gap for follow-on projects while investing in the growth of African businesses that are driven by…
Kenyan agri-circularity firms are encouraged to apply to participate in the second O-Farms accelerator program, which will provide milestone-based grant funding of up to EUR25,000 (US$24,000) to two peer-selected companies. O-Farms was established in 2021 as Africa’s first agri-circularity-focused accelerator program, led by Bopinc and Village Capital, and administered by E4Impact Accelerator, with the intention…