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…
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…