An initiative called the Youth Start-up Academy Uganda has been started by the International Trade Center (ITC) and the Korea SMEs and Startups Agency (KOSME). To generate youth employment and strengthen enterprises, the project will incubate 1,000 young entrepreneurs and enhance Uganda’s startup environment. “The Youth-Start Up Academy’s objective is really lofty. The first unicorn…
According to a statement provided to TechCabal today, Thepeer, a Nigerian tech infrastructure startup that facilitates frictionless wallet transfers between businesses, has raised a $2.1 million seed round. Thepeer was created in August 2021 as a solution to the expensive and time-consuming transfer of money across mobile wallets by Kosisochukwu Chike Ononye (CEO) and Michael…
According to a statement provided to TechCabal today, Healthtracka, a Nigerian firm that provides simple at-home lab tests, has acquired $1.5 million in pre-seed funding. Venture capitalists Ingressive Capital and Hustle Fund are leading this round, which also includes angel investors Alunmi Angels Alliance and Flying Doctors. After taking part in the Techstars Toronto accelerator…
The Non-profit Training Initiative, a digital capacity-building program for 1,500 non-profit professionals across Anglophone West Africa, has been officially launched by Meta. In addition, the business announced its support for Geda Digital training, a six-month Social Innovators Bootcamp Program for Non-Governmental Organizations, at an event in Lagos (NGOs). The goal of this course is to…
According to its co-founder, Eche Emole, Afropolitan, a firm that aims to create a digital nation for Africans, has raised $2.1 million in pre-seed funding. Afropolitan was founded in 2016 by Eche Emole and Chika Uwazie as a platform for the African diaspora to organize parties, events, and festivals. It gained a name for itself…
Autochek, a Nigerian auto-tech firm, has collaborated with Pezesha, a Kenyan fintech, to provide asset financing to SMEs in Kenya. Autochek’s goal is to create digital solutions that will improve and enable a seamless and secure automobile commerce experience across Africa, beginning with Nigeria and Ghana. It intends to employ technology to improve African consumers’…
mTek, a Kenyan insurtech and digital insurance platform, has received an additional financial commitment from Finclusion Group, an African-focused fintech platform, totaling $3 million (KSh 340 million) in debt and equity. The increased collaboration aims to speed up mTek’s entry into the Kenyan market by making continuous platform upgrades and expanding its customer base. Ms….
Snapchat, the popular instant messaging software, is working on a paid subscription called Snapchat Plus, according to reports. This new subscription, according to The Verge, will provide users early access to new features as well as other services. “Snapchat Plus, a new subscription service for Snapchatters, is undergoing early internal testing. In a statement, Snapchat…
Tanmeyah for Microfinance Services, an EFG Hermes Holding subsidiary based in Egypt, has purchased Fatura, a B2B e-commerce marketplace and digital financing services provider, for an unknown sum. Hossam Ali, Ahmed Anwar, and Abdullah Mohebeldin founded the platform in 2019 to bring retailers, producers, and wholesalers together in one place. Fatura provides a variety of…
5G Mokki, an African technology space network and Cameroonian incubator, has revealed how it plans to use its Tech Spaces to connect Africa and Europe, fostering technology learning and adoption, remote work, and entrepreneurship. Experts from the United States, Africa, and Europe discussed the business opportunities that the latest communications and network technology, remote learning,…
Jodop, a Moroccan startup, has secured $1 million in a seed round led by Azur Innovation Fund and including Plug and Play and business angels. This year’s round was completed in April. Jodop, which was founded in 2020 by Adil Zghaoui and Salim El Merrassi, uses artificial intelligence (AI) to match temporary workers with potential…
Meta is launching the Meta Avatar Store, a digital designer apparel store where you can buy digital outfits for your avatars. In an Instagram Live with Instagram’s Vice President of Fashion Partnerships Eva Chen, Meta CEO Mark Zuckerburg made the announcement. The store will open next week, with digital outfits from Balenciaga, Prada, and Thom…
According to news initially reported by Business Insider, Amazon, a global e-commerce technology company, plans to expand to African countries such as South Africa and Nigeria in 2023. According to leaked documents obtained by Business Insider, Belgium, Chile, and Colombia are among the five markets that the major e-commerce corporation plans to enter next year….
On its photo and video-sharing app, Instagram is experimenting with a new full-screen feed. In a Tweet, the social media network verified the news. On his Instagram story, CEO Mark Zuckerberg also offered a sneak peek of the full-screen feed testing, stating that “pictures are still a vital element of Instagram.” Furthermore, this new Instagram…
Back in 2010, I had an idea! My friend @Tobi and I wanted to develop the first e-commerce platform in Nigeria, we admired what Amazon was doing at the time and wanted to replicate the same here in Nigeria. We did our research, asked a lot of questions, and made a lot of discoveries, however,…
Teacha!, a marketplace where instructors can purchase and sell their teaching resources, has been established by Snapplify, a South African edtech solutions platform. The organization began operations in Kenya in 2016 and has since recruited a number of East African schools and teachers. “There is a great need for CBC resources in Kenya right now,”…
Boyot, a business located in Egypt that provides an end-to-end operating system for payments and financial services focused solely on the real estate industry, has raised a six-figure pre-Seed round headed by a Kuwaiti real estate firm. Boyot, founded in 2020 by Mahmoud El Sabongy (CEO), Khaled El Refaay (CTO), and Mohamed Sayed, allows real…
Ten Kenyan entrepreneurs have been chosen to engage in Hindsight Ventures’ Wazo Challenge, where they will fight for a $10,000 cash prize and other benefits. The Wazo Challenge is being held for the third time by Hindsight Ventures, and it is the first time it is taking place in Kenya. The program is a four-week…
Microsoft is retiring its first version of the Internet Explorer (IE) browser after nearly 27 years. The company is asking customers to convert to its cutting-edge Edge browser, which it believes would provide consumers with a faster and more secure browsing experience. Users will, however, continue to have access to the virtual version of the…
As part of a month-long observance of International Micro, Small, and Medium-sized Enterprises Day this June, Google has announced new initiatives to promote small retail businesses in Africa. The initiatives include the Shopping Small Business Summit, a one-hour virtual training session aimed at assisting SMB owners gain skills and resources to compete online. Topics will…
CrossBoundary Energy Access (CBEA), Africa’s first project financing facility for mini-grids, has announced $25 million in new investment commitments from ARCH Emerging Markets Partners Limited, Bank of America, and the Microsoft Climate Innovation Fund. This investment will leverage an additional $25 million in senior debt to invest $50 million in CBEA’s pipeline of solar-powered mini-grids…
Jumba, a B2B construction technology platform located in Kenya, has raised $1 million in a pre-seed fundraising round to fine-tune its technology and expand its reach to capture markets in Kenya’s main towns. Seedstars International Ventures, Chandaria Capital, Future Africa, Logos Ventures, First Check Africa, and a number of angel investors participated in the pre-seed…
According to a recent Open Dialogue poll, young unemployed South Africans spend over $81,34 each month seeking for work, with internet fees accounting for over $29,03. Accessing information, job possibilities, and learning comes at a hefty data cost for many people, especially given that young unemployment is about 60%. However, according to Nicholas Bednall, MoyaApp’s…
Khazenly, a digital storage and fulfillment network located in Cairo, has acquired $2.5 million in startup funding. The funding round was co-led by Arzan Venture Capital, which focuses in innovative, early-stage companies, and Shorooq Partners, which specializes in seed-stage digital investments across MENAP. Other investors included Camel Ventures, Averroes Ventures, and a number of angel…
MFS Africa, a digital payments network, has raised an additional $100 million in equity and debt capital led by Admaius Capital Partners, increasing the total amount raised in the series to $200 million. Vitruvian Partners and AXA IM Alts, as well as current investors AfricInvest FIVE and CommerzVentures, re-invested as a result of the extension….
WhatsApp users may now transfer their discussion chat history, photographs, videos, and voice messages from their Android handset to their iPhone using Apple’s Move to iOS program. Before this upgrade, users could only transfer conversations from an iPhone to an Android smartphone. The beta version of the ability to shift WhatsApp data from Android to…
According to Gozem, a Francophone Africa-focused smart app, 12 million motor vehicle drivers work in informal markets across West and Central Africa. But there’s a catch: these drivers can’t have their automobiles financed through traditional banks or microfinance companies. Instead, many turn to payday lenders, who demand exorbitant interest rates—some as high as 70% yearly….
Africa Data Centres, a subsidiary of the Pan-African Cassava Technologies Group, is thrilled to announce the construction of a second data center in Cape Town, South Africa. The new 20MW facility, which will span 15,000 square meters across eight data halls, will be located on the outskirts of Cape Town’s city center. According to Tesh…
DXwand, an Egyptian firm that specializes in conversational artificial intelligence (AI), has raised $1 million in a pre-series A financing. The funding round was led by Shanghai-based Huashan Capital. Mohsen Abulleil and Ahmed Bakeer, both angel investors, participated in the round. SOSV, a VC firm based in the United States that was one of the…
15 June 2022 Microsoft hosted a virtual roundtable panel discussion about digital transformation in agriculture for food security in Africa. The roundtable explored how accelerating digital transformation in agriculture is leading to agritech developments that have a tangible positive impact on food security in Africa. With agriculture sustaining up to 70% of Africa’s livelihoods, Microsoft is…