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…
Vework, an Egypt-based petcare platform that connects pet parents with pet care service providers in a timely and convenient manner at home, has raised a bridge round with several Saudi Arabian investors and Alexandria Angel Network members, as well as receiving financial support from Nestlé Purina and conducting a POC (proof of concept) together. The…
In the world’s population today, Africa holds the ranking of the second largest and second most populous continent, with nearly 1.4 billion people living in it and accounts for a good 18% of the world’s human population. Where others would fix their eyes on the outrageous figures, the fintech industry could focus on the horn…
The 1000 learners in the first cohort of Power Learn Project’s flagship program – “One Million Developers for Africa” Scholarship Program (#1MillionDevs4Africa) to teach 1 million young people and empower them with ICT employable skills – have been announced. The cohort was chosen via a thorough screening and panel selection procedure, which was preceded by…
Telegram is launching a Premium edition, which was previously only a rumor. Telegram Premium is now available, and it’s free! Many rumors about the impending launch of a premium version of Telegram emerged a few weeks ago, but they have now been confirmed. There’s no need to uninstall this software; if you don’t like the…
The Cairo Angels Syndicate Fund (CASF), a micro venture capital fund based in Cairo that invests in early-stage firms in the Middle East and Africa, has announced an investment in CredPal, a Nigerian FinTech firm. CredPal will use the CASF money to extend its services across Africa, with an emphasis on key areas such as…
Toyota Tsusho and CFAO Group’s Corporate Venture Capital (CVC) funds, in collaboration with Bond’innov, have established the Digital Transformation Challenge, which is available to growth-stage businesses in Africa that offer innovative services in the transportation and health sectors. Mobility54 and Health54, two Toyota Tsusho and CFAO Group CVC funds, are giving investments ranging from EUR100,000…
ABUJA; JUNE 11, 2022: Nigerian Software Testing Qualifications Board (NGSTQB), a member board of the International Software Testing Qualifications Board (ISTQB), has announced the date and theme for its first Webinar. NGSTQB invites stakeholders in the Nigerian software ecosystem to a one-day Webinar under the theme: ‘The Role of Software Testing in Nigeria’s Digital Economy. Register here to participate….
Buyers may now try on their future shoes from the comfort of their own homes, thanks to Amazon. The e-commerce titan is releasing its Virtual Try-On for Shoe function in order to make online fashion purchases easier for its customers. Thanks to an engaging mobile experience, customers can try on and check a pair of…
ADVA, an Egypt-based fintech, has raised an undisclosed “six-digit figure” Seed round from Sawari Ventures in order to extend its product offering and financial services breadth. ADVA is a consumer finance platform founded by Rania Gaafar in 2020 that allows clients to pay for a variety of services and products in installments. “ADVA is unusual…
In this year’s annual Kenya E-Commerce Summit and Awards, sponsored by Finserve Africa, Airduka, a Kenyan online marketplace, knocked out other contenders to earn the overall title of E-Commerce Startup of the Year. The company was nominated alongside almost 200 other businesses in 30 different categories. According to research, more than half of Kenyan consumers…
Uber and other ride-hailing services are revolutionizing the way we get around. With only a few taps on a smartphone, you can be on your way in no time, satisfying the modern consumer’s desire for on-demand, accessible, and convenient services. According to recent research by Genesis Analytics and the Financial Sector Conduct Authority (FSCA), data…
MFS Africa has agreed to buy Global Technology Partners for $34 million in cash (GTP). GTP is Africa’s top prepaid card processor, with UBA, Ecobank, BIA, Stanbic, Coris, NSIA, and Zenith Bank among the over 80 banks that use their platform. GTP’s client base is spread over 34 countries, and the company is fully integrated…
Leadership comes with a lot of responsibilities and sometimes sacrifice. As a result-oriented leader, you must be always willing to take responsibility for everything that happens within your department. Since I started leading a team of over twenty (20) developers at my current employment, I can tell for sure that there are a couple of…
TikTok, a video streaming platform, has added new features to assist users to control their screen time, including a new and easily available in-app dashboard tool that shows users the social app’s usage statistics. This isn’t the first time the social media platform has attempted to boost its members’ digital well-being by assisting them with…
Chari, a Moroccan B2B e-commerce and finance firm, said today that it has purchased a 100% share in Diago, an Ivorian app that connects local stores with FMCG makers and importers. AF Legal and RBB International firms, representing Chari, and Houda Law Firm, representing the Ivorian startup, handled the all-stock transaction. This transaction comes just…
GOMYCODE, a Tunisian edtech business, has raised $8 million in a series A round of funding. AfricInvest, through its Cathay AfricInvest Innovation Fund (CAIF), and Proparco, a French-based development financing institution, co-led the deal, with existing investor Wamda Capital joining as a follow-on. After raising a seed of $850,000 in October 2020, this new round…
Kenya’s information and communication technology ministry has released a coding curriculum for school children. The newest trend in schools is coding. In other parts of the world, it is taught at a lower level, and Kenya appears to be following suit. To that end, we’ve heard that Kenyan children will soon be able to take…
Franc, a South African financial app, has secured ZAR8 million (US$522,000) in a seed extension round and unveiled a B2B solution that allows partner organizations to quickly and easily deploy savings and investment products. Franc was founded in 2017 by Sebastian Patel and Thomas Brennan, who were upset by the complexity and high barrier to…
Virridy, a company dedicated to enhancing natural resource management through technology, has raised $5.5 million in Series A funding to speed the development and deployment of its satellite-connected sensors for water, energy, and agricultural resource management. Existing investors FHI 360, Cleo Capital, Reverent Rock, Save Earth, and VertueLab also participated in the round, which was…
Bosch’s venture arm just unveiled its fifth fund, claiming it’s looking for firms that have the “potential to improve quality of life while conserving natural resources.” The new $295 million fund increases the stakes from Bosch VC’s previous fund by $53 million, but the German firm’s global focus on deep tech remains largely unchanged. That…
According to new research released by Endeavor Nigeria, the country’s premier network of high-impact entrepreneurs, Africa’s digital ecosystem is poised for exponential growth, fueled by strong market fundamentals and the impact of the COVID-19 epidemic. “The Inflection Point: Africa’s Digital Economy Is Poised To Take Off,” a report by Endeavor, reviewed key events in Africa’s…