In its joint venture with Scatec ASA, British International Investment, the UK’s development finance organization, is collaborating with Norfund, the Norwegian Investment Fund for Developing Countries, to raise money for Africa’s hydropower industry. With up to $200 million in funding pledged over the next years, this will be the greatest hydropower investment in BII’s 74-year…
The multinational technology company Zoho today introduced its Zoho Africa Digital Enabler package in Nigeria in order to assist small businesses in beginning their digital transformation. The business, which saw a 74 percent increase in business in Nigeria last year, also revealed plans to establish an office in Lagos and hire additional locals for positions…
Fido, a fintech company with headquarters in Ghana, has raised $30 million in a Series A round of fundraising with the goal of expanding throughout Africa. Since 2015, the fintech has provided credit to thousands of consumers via their mobile devices. This year, it plans to expand to Uganda and other parts of the continent…
The Central Bank of Egypt (CBE) has granted final approval to Egyptian fintech firm Lucky to introduce the “Lucky One” card to all of its clients. Lucky, a company founded in 2018 by Momtaz Moussa and Ayman Essawy, gives customers access to an expanding selection of simple-to-use credit products, savings, and cashback benefits that can…
For an undisclosed sum, Egypt-based fintech MNT-Halan purchased Talabeyah, a B2B e-commerce site that sells FMCG goods. By utilizing technology, a cutting-edge supply chain model, and the founders’ considerable experience in the FMCG industry, Karim Nassef, Amr Abbas, and Khaled Hussein created Talabeyah in 2020 with the goal of disrupting and digitizing the unorganized FMCG…
Lagos has welcomed the launch of Clickafix, a marketplace for hiring professionals. The tech-driven platform aims to close the gap between qualified experts and people who need services but are unsure of where to find the best service providers to handle repairs in their homes and workplaces. Nigerians living in the commercial hub of Lagos…
Synapse Analytics, an AI tech firm in Egypt, has completed its pre-series A investment round. led by Egypt Ventures, with participation from Amr Awadallah, the founder of Cloudera, Simon Rowlands, the founder of Africa Platforms, and current investors. More than $2 million was invested in the round as a whole. The additional investment will be…
The majority of us desire coding skills. But, to be completely honest, programming requires a lot of ability and mental energy in addition to being a difficult task. But what if there was a method to make up for that weakness with some sort of academic work? Well, and ideally, many companies have been working…
In an effort to provide more African businesses with funding prospects, the Nigerian investtech startup GetEquity has expanded to Kenya. GetEquity, a fundraising and venture portfolio management firm founded in 2020 by Jude Dike and William Okafor, intends to remove friction between founders and the financing they require by providing them with access to a…
A $1 million seed round of funding has been secured by the Moroccan company Jobop, an on-demand platform for temporary labor, in order to expand its “Workforce-as-a-Service” market. Jobop, which debuted in early 2021, uses its own technology to link businesses with blue-collar temporary labor in industries like hospitality, construction, logistics, and manufacturing. In a…
Sophos, a global leader in next-generation cybersecurity, has published a new sectoral survey report, “The State of Ransomware in Healthcare 2022.” The findings reveal a 94% increase in ransomware attacks on the organizations surveyed in this sector. In 2021, 66% of healthcare organizations were hit; 34% were hit the previous year. The silver lining, however, is…
The co-founder of Code.org’s venture capital business, Neo, led a $2 million seed round for the Nigerian edtech startup Kibo School. Future Africa, Pledges, and other angel investors also contributed to the investment round. Online school Kibo School provides access to talent and networks in addition to top-notch degrees. Ope Bukola established it in 2021….
A digital wallet for the metaverse called Meta Pay was formally introduced by Mark Zuckerberg on Wednesday. According to Zuckerberg, Meta Pay works precisely like Facebook Pay did, with a few tweaks to make it more compatible with the concept of the metaverse. On Facebook, Instagram, WhatsApp, Messenger, and anyplace else you could use Facebook…
A fintech business in Uganda called XENO Corporation has secured $2 million in seed funding, led by Beyond Capital Ventures. On the XENO board of directors, Eva Yazhari, general partner at Beyond Capital Ventures, will sit as an observer. The Uganda-based business was established in 2017 by XENO’s CEO, Aéko Ongodia. XENO has helped 20,000…
The second round of the Startup Wise Guys accelerator is now accepting applications. Selected B2B SaaS startups can access EUR65,000 (US$71,000) in cash as well as five months of rigorous mentoring. Startup Wise Guys, an organization that was founded in Tallinn, Estonia in 2012, also oversees cybersecurity programs out of Cosenza and SaaS accelerator programs…
Nairobi, Kenya – June 22, 2022 – Proven Consult, a leading automation technology firm, has partnered with a prominent insurance company headquartered in Nairobi, and operating in Kenya, Uganda, and Tanzania. The partnership aims to accelerate digital transformation in the insurance industry in Africa through the implementation of Proven Consult’s latest technologies and marks the…
For decades, tourism has remained a major contributor to the GDP of African economies. In 2019, the industry accounted for about seven percent of Africa’s GDP and contributed $169 billion to its economy—about the size of Côte d’Ivoire’s and Kenya’s combined GDP. But the advent of the Covid-19 pandemic changed all that. In July 2020,…
The Nigeria Internet Registration Association (NiRA), the registry for .ng Internet Domain Names and maintainers of the database of names registered in the .ng country code Top Level Domain, has again honoured private and public institutions, as well as individuals, promoting the brand. The 2022 .ng Awards, the fifth in the series, was held in Lagos…
AXIAN Group in Madagascar has provided investment to Egypt-based Disruptech, a venture capital firm that focuses on the fintech industry, to enable Disruptech to assist additional budding fintechs in scaling and entering new markets. In addition to fostering a rising number of businesses in related industries that are speeding financial inclusion, Disruptech is a venture…
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…