Africa and Asia are the birthplaces of mobile money, and the transition to digital wallets is well underway in countries with high smartphone penetration. According to a recent report, African and Asian consumers are increasingly accepting digital payments. This is the conclusion of a white paper published by TerraPay in collaboration with IBS, highlighting trends…
Njoku Emmanuel dropped out of school to focus on coding after his father confiscated his laptop for “coding too much” and failing to face his studies. After three years, he has established himself as one of the best blockchain engineers of his generation, traveled the world, and now runs his own startup, Lazerpay, a cryptocurrency…
While analyzing the threat landscape of African countries, Kaspersky experts observed a steady decline in mobile device attacks in the region, as cybercriminals concentrated their efforts to focus on more complicated, dangerous, and profitable threats. These and other findings are included in Kaspersky’s report, Mobile Threats in 2021. Overall, South African users faced 38% fewer…
Meta Platforms, the company that owns Facebook, has established a special operations center to monitor the conflict in Ukraine, and it has launched a feature that allows users in the country to lock their social media profiles for security, a company official said in a series of tweets on Thursday. Twitter posted tips on Wednesday…
Mark Zuckerberg, the founder of Meta, has announced new artificial intelligence projects, believing that AI is “the key to unlocking the Metaverse.” Zuckerberg believes that the mobile internet’s future will be the metaverse, a futuristic concept of virtual spaces in which users can work, socialize, and play. In a livestreamed demonstration, he demonstrated the AI…
The Stanford Africa Business Forum has opened applications for the New Venture Pitch Competition, which will give early-stage ventures the opportunity to pitch on stage at the April event. The Stanford Africa Business Forum, which will take place both in-person and virtually on April 16, will look at how African innovations in various sectors can…
China has issued a new ban on raising funds through “virtual currency,” declaring the practice illegal. In China, anyone who uses cryptocurrency to raise funds for a cause will face a prison sentence. The severity of the punishment will be determined by the amount of capital one has amassed through the use of virtual assets,…
Five more African startups have been confirmed as participants in the renowned Silicon Valley-based Y Combinator accelerator’s W22 batch, bringing the total to 15. The W22 batch of the Y Combinator program is currently in session, and will conclude with a demo day in March, having played a role in the early days of companies…
Voyance, a Nigerian data infrastructure company, has announced a $500,000 pre-seed funding round. Beta.Ventures led the round, with Zedcrest Capital, HoaQ Club, and Assembly Investors also participating. Angel investors included Fola Olatunji-David, founding partner of Kickoff Africa, and Nelly Chatue-Diop, co-founder and CEO of Ejara, among others. Speaking about the funding, Ovo Emorhokpor, General Partner…
As you sit across from the hiring team, reflecting on your past achievements and challenges, it’s time to address the future responsibilities and expectations of this new role. Salary negotiations begin, and the stakes are high—propose too high a figure, and you might be seen as overreaching; too low, and you risk undervaluation. Understanding the…
TradeDepot, a Nigerian B2B e-commerce and embedded finance startup, has announced the acquisition of Green Lion, Ghana’s largest and fastest growing B2B e-commerce platform, in order to accelerate service delivery across the country. TradeDepot, which was founded in 2016, connects African consumer goods brands directly to a target market of several million retail outlets across…
According to a press report published by Forbes Middle East, OPay has received widespread support in Egypt. The Nigeria-based fintech firm is unquestionably one of Africa’s fintech unicorns and one of the continent’s most valuable startups. Since its initial launch in Egypt at the beginning of 2021, it has also been regarded as one of…
PayJustNow, a Cape Town-based fintech startup, has sold a controlling stake in its business to Weaver Fintech as it seeks to expand in the buy now, pay later (BNPL) space. PayJustNow, which launched in August 2019, is the largest business of its kind in Southern Africa, with over 180,000 customers and over 1,000 retailers carrying…
Clickatell, a Cape Town-based and California-based fintech firm, CPaaS innovator, and creator of the Chat Commerce platform, announced yesterday that it had raised $91 million in its latest Series C round of funding. Arrowroot Capital led this round, with Kennedy Lewis Investment Management, Endeavor Global, and Harvest also participating. According to a press release, Clickatell…
Three African startups have been chosen to participate in the 12th edition of the SOSV MOX accelerator, where they will receive up to $150,000 in funding and tailored support. SOSV invests in 150 companies each year through category-leading startup development programs, providing multi-stage investment to develop and scale big ideas for positive change. MOX is…
The Bank of Jamaica (BOJ) has revealed that it has selected the name JAMAICA DIGITAL EXCHANGE – JAM-DEX, as well as the tagline “No cash, no problem!” and logo for its digital currency, which will be launched later this year. The choices for the digital currency’s branding came as a result of a public competition…
Canza Finance, an emerging markets neobank that is building the world’s largest non-institutional-based financial system, announced the completion of its $3.27M seed round. The fundraising round was led by Fenbushi Capital, with participation from Dominance Ventures, Bixin Ventures, Consensys, Protocol Labs, Emergo Ventures, MEXC Global, NGC Ventures, XanPool, Hashkey, the founders of Celo, and others. This funding enables Canza to continue headcount growth and expand its service…
Murtala Mohammed International Airport (MMIA) is the country’s busiest international airport, with approximately 3 million international passengers passing through each year. When arriving passengers arrive at the airport, they must pass through the doors depicted above in order to proceed to immigration. A lone sign above it reads “Welcome to Nigeria.” Airports, particularly international ones,…
Today, Meta, a tech and social media touchstone based in the United States, announced the expansion of the availability of its Facebook Reels for iOS and Android to more than 20 countries in Sub-Saharan Africa. The “Reels” feature debuted on Meta’s Instagram platform in 2020 in response to the rising popularity of then-newcomer TikTok. Reels…
Bizzyn, a Tanzanian startup, has launched a full-featured business and financial management suite of products designed to scale as businesses grow. Bizzyn, which was founded in 2019 by Emmanuel Kimaro and Abbasi Mussa, officially began operations in November of last year. The startup has created a financial and marketing platform for SMEs that monitors finance,…
Launched as Kazi in 2017, when the market was still in its infancy, Kenyan startup Ziada returned after a hiatus in 2021, and saw rapid adoption of its platform, which helps informal sector service providers access more work opportunities. Annabel Angwenyi and Patrick Ngugi have been business partners for over a decade, but their two…
Lipa Payments, a South African fintech startup, has raised R10 million ($659 thousand) in funding from Empowerment Capital’s Imvelo Ventures, which is backed by Capitec Bank SA. Lipa Payments was a finalist in Capitec Bank’s 2020 Life 2.0 Hackathon. With its software solution that allows merchants to accept contactless payments directly from a mobile phone,…
Twitter may be testing a way for users who do not want to be tagged to untag themselves from a thread. The Verge obtained a screenshot of a new “leave this conversation” feature, which untags your username from a Twitter conversation, preventing people from mentioning you in the conversation again and stopping you from receiving…
The latest Westerwelle Young Founders Programme, which offers outstanding young entrepreneurs from developing and emerging countries six months of business mentoring and the opportunity to attend the Young Founder Conference in Berlin, is now accepting applications. The Westerwelle Foundation for International Understanding fosters global collaboration among young entrepreneurs, executives, and decision-makers. Its Young Founders Programme…
For the past five years, the Norrsken Foundation in Sweden has helped social tech entrepreneurs in Africa and elsewhere solve societal and environmental challenges by investing financially in their ideas. In one of its most recent ventures, the nonprofit is constructing the largest startup hub in East Africa in Kigali, Rwanda’s capital. The Norrsken House…
According to Bloomberg, the CDC Group, the United Kingdom’s development-finance arm, will provide a $100 million credit facility to First Bank of Nigeria Ltd. to help support women-owned businesses and small businesses in Africa’s largest economy. The funding will “address the challenge of limited access to capital faced by the country’s under-banked and underserved groups,”…
Atlantica Ventures, an African tech startup fund, has received $11.3 million in junior funding from Boost Africa and $12.5 million in senior financing from the European Investment Bank. Aniko Szigetvari and Ik Kanu founded Atlantica Ventures, an early-stage pan-African impact-focused venture capital fund, on the premise that African entrepreneurs channeling their passion and expertise through…
For an organization or individual, social media offers a plethora of opportunities to promote and expand a brand. Social media, a powerful form of communication that uses the internet, can provide any organization with a strong global presence. Most businesses believe they need a social media presence because these platforms and apps have billions of…
JPMorgan, the world’s largest bank, has become the first financial institution to enter the metaverse. Customers will be able to visit the bank’s Onyx lounge in the blockchain-based virtual world decentraland. The Onyx Lounge offers Ethereum-based services to JPMorgan customers, which are all detailed in a recently published report. The bank has issued reports on…
MarketForce, a Nairobi-based B2B platform for consumer goods retail distribution and digital financial services in Africa, has closed a $40 million Series A funding round, the largest of its kind in East and Central Africa. The funding comes seven months after the company closed on a pre-Series A round. The round was led by V8…