Gaviti, an automated service that helps businesses collect and manage customer bills, has closed a $9 million Series A fundraising round headed by Flashpoint in the United Kingdom, with participation from Moneta VC, North First Ventures, TAU Ventures, and LETA Capital. Their platform allows organizations to manage their collections process through a user-friendly application, giving…
Pylon, an Egyptian infrastructure management business for emerging market water and energy utilities, has raised a $19 million seed round to advance water and electricity software. Endure Capital of the United States led the round, which was a mix of debt and equity, and was backed by British International Investment (previously CDC Group), the UK…
The Central Bank of Nigeria granted MTN the permission to operate Mobile Money (MoMo). Since its inception in 2019, MTN Nigeria’s Mobile Money (MoMo) service has attracted over 9 million subscribers. According to TechCabal, the license means MTN Nigeria would be able to provide practically all the services provided by traditional commercial banks, except for…
The Alexandria Angels Network, along with members of MED Angels and AUC Angels, Cubit Ventures, Challenge Fund, EdVentures, Falak Startups, and Cairo Angels, led a $1.2 million Series A fundraising round for Egypt-based edtech Sprints. “The organization has successfully given 20,000 learning sessions in the last two years.” Sprints’ co-founder and CEO, Ayman Bazraa, stated,…
The EatSafe Innovation Challenge, organized by Feed the Future in collaboration with the SUN Business Network (SBN) and the Innovative Food System Portal, is searching for businesses, students, researchers, and other innovators in Nigeria and Ethiopia who are concerned about food safety. The EatSafe Innovation Challenge invites innovators to offer their thoughts on how existing…
Nigeria’s first marketing and media hackathon, dubbed MarkHack 1.0, has been established by Eko Innovation Centre, a growth and development hub for startups and entrepreneurs in Nigeria. The luncheon, which took place at D’Podium Event Centre in Lagos, was attended by innovators, entrepreneurs, policymakers, marketers, and media professionals, as well as many more from across…
In response to teacher and administrative requests, Zoom has introduced additional functionality for its Education users. Virtual Background and Blur for Chromebooks, Anywhere Polls, and Breakout Room upgrades are among the new Zoom chat and meeting capabilities. According to the firm, the new features are aimed to encourage students to complete homework projects and are…
V8 Capital Partners has given ShapShap, a Nigerian on-demand delivery firm, a seed extension investment to help it expand its capabilities and penetrate new markets. The fresh funds will be used to improve the startup’s last-mile delivery capabilities for businesses and individuals in Nigeria, with ambitions to expand to other African countries in the near…
Elon Musk, Twitter’s largest shareholder, has decided not to join the company’s board of directors, according to CEO Parag Agrawal. Musk, who calls himself a free-speech absolutist and has been critical of Twitter, disclosed a 9.1% interest in the social media network on April 4 and said he intends to make big improvements. His appointment…
ImaliPay, a $3 million seed fundraising round has been finalized for a Pan-African fintech start-up that focuses on boosting the gig economy through its one-stop-shop financial services platform. ImaliPay was founded in late 2020 in Nigeria after Tatenda Furusa (Co-founder) noticed problems with e-ride hailing drivers’ access to working capital and emergency savings in Nairobi. Upon…
Didi Chixung, the Chinese ride-hailing behemoth, has announced the closure of its operations in South Africa (SA), a year after it first opened its doors on the continent. A Didi representative in South Africa confirmed the closure to TechCrunch but did not elaborate on the reasons for the shutdown. “We have made the tough choice…
Lemonade Finance, founded in 2020 by Ridwan Olalere and Rian Cochran and a participant in Y Combinator’s W21 batch last year, allows Africans living abroad to send and receive money from their home nations in a cost-effective, timely, and efficient manner. Its software lets users keep their balances in the currencies that are important to…
Meta is said to be planning to add a virtual currency called “Zuck Bucks” to its apps in order to reward content creators and run other financial services such as loans. Mark Zuckerberg, the founder and CEO of Meta, recently abandoned a digital currency project called “Diem” after regulators halted its development. The project, which…
The Economic Community of West African States (ECOWAS) has invited female entrepreneurs from its 15 member countries to apply for the second edition of the ShEquity accelerator program. The ShEquity Business Accelerator (SHEBA) is a 16-week program that provides venture development and technical assistance to African female entrepreneurs in the ECOWAS area who want to…
The Central Bank of Nigeria (CBN) has penalized three companies for failing to comply with cryptocurrency transaction ban restrictions. The CBN imposed a prohibition on all cryptocurrency transactions and a regulation policy on all commercial lenders in February 2021. This decision was reached after the CBN determined that these transactions posed a risk to the…
We are ready for Markhack 1.0! Register to attend the launch event on Friday, 8th April Register here
Elon Musk, the CEO of Tesla Inc (TSLA.O), has purchased a 9.2 percent stake in Twitter for roughly $3 billion, making him the company’s largest stakeholder. The action comes after he tweeted that he was “seriously considering” creating a new social media platform and questioned Twitter’s commitment to free expression. Musk holds 73.5 million Twitter…
MTN SA has announced an increase in investments to modernize current network infrastructure and deploy new network infrastructure in Limpopo and Mpumalanga, South Africa. The initiative, according to the firm, will benefit ultra-rural areas like Mtititi and Ga Marishane the most. MTN’s “Modernisation of Network South Africa project” (MONZA), as well as improved rural reach,…
Telecommunication providers in Nigeria obeyed the Federal Government’s order on Monday to block any unlinked Subscriber Identification Module (SIM) card without a National Identification Number (NIN) from being used on their networks, in an effort to reduce insecurity, extortion, and kidnappings. According to The Guardian, the Federal Government had ordered the carriers to block all…
Today, we can attest to the rise in connected consumers who are demanding almost immediate engagement with brands to satisfy their quests. Companies are now investing in ecommerce, moving into social mostly via mobile. Considering all that is going on with digital technology and the impacts, it is mind-blowing. So, evolving consumer behaviour is an…
Africa Data Hub (ADH) is commencing its Community Journalism Fellowship Programme. This initiative aims to improve the coverage of under-reported issues in local communities across Nigeria, paying special attention to potential solutions with lasting impact towards effective public service delivery, grassroot development and improving the quality of life. Community journalism holds the key to bridging…
Wura is a mobile app that allows you to give and receive used stuff from people in Nigeria that are close by or far away. Clothing, books, shoes, jewelry, headphones, and other products may be included. On the app, you may give away anything that is still useful and valuable. After multiple scheduling problems, I…
Techiva Technologies, a Nigerian IT consulting firm, was named the winner of the SheTrades Hackathon and received a cash reward of $10,000. In July 2021, the International Trade Centre (ITC) and the International Telecommunication Union (ITU) established the “ITC SheTrades Hackathon,” an opportunity for entrepreneurs all around the world to leverage technology for sustainable growth…
Andela Wednesday, a talent outsourcing firm, has announced that it is expanding its services beyond engineering to encompass design, data, and product management. The news comes six months after Andela raised $200 million in a Series E round, valuing the company at $1.5 billion and confirming its status as one of Africa’s unicorn startups. “Having…
What is Skill Gap? The concept of skill gap characterizes the divergence that currently exists in what potential job prospects are required of and what is being offered. Skill Gap Analysis is a method of determining which skills and knowledge gaps exist between the workforce system in Nigeria and its students of higher learning. On a general note, the…
PEACE Cable, in collaboration with Telkom, Kenya’s third largest telecoms company, has landed a new submarine cable in Mombasa. The PEACE Cable aims to provide more reliable and stable communication services between Africa, Europe, and Asia. This new cable will link France to Pakistan via the Europe-Asia route, as well as Mombasa, Kenya. It will…
In the last few years, we’ve seen great innovation across various industries, breakthroughs for marginalised communities, and a digital revolution that has impacted every aspect of our lives. Although these are milestones to be celebrated, there is still so much more that needs to be done when it comes to developing the presence of women…
The African Development Bank Group has invested over $1 billion in Mozambique’s north, including the Liquefied Natural Gas Rovuma Area 1 project, a climate resilience project, the Mueda Negomano Road project, and the Mozambique Energy-for-All program. Akinwumi A. Adesina, President of the African Development Bank, and President of the Republic of Mozambique Filipe Jacinto Nyusi…
On Friday, a former Microsoft employee published an essay on Lioness, a whistleblower website, alleging that corruption in the company has spread throughout Africa and the Middle East. According to Tech Central, in 2019, the tech giant company and its former partner, South African EOH Mthombo, were accused of being involved in alleged corruption in…
Applications for the fourth year of the Africa Business Heroes (ABH) prize program are now open in English and French. ABH annually awards a share of a US$1.5 million grant to ten outstanding African entrepreneurs. The fourth annual edition of the Jack Ma Foundation’s flagship philanthropic program highlighting and celebrating Africa’s entrepreneurial excellence, “Africa’s Business…