How novel approaches to angel investing are bridging Africa’s massive early-stage funding gap for high-growth ventures. Angel investment in African startups has recently increased rapidly, in tandem with the development of startup ecosystems, which has greatly increased the number of investable opportunities. Early indications of success, such as the emergence of several successful fintech startups,…
According to an Apple App Store listing, former US President Donald Trump’s new media venture plans to launch its social media app Truth Social on February 21. Truth Social, the Trump Media & Technology Group (TMTG) alternative to Twitter, is now available for pre-order ahead of its launch on Presidents’ Day in the United States….
Denis Mutirithia, a frontline health-care worker at Isiolo County referral hospital, plays a critical role in saving lives – and he now has a new digital tool to help him do so. The pharmaceutical technologist is responsible for forecasting and preventing shortages and stockouts of critical medical supplies such as contraception. If he receives stock…
Bfree, a Nigerian credit management fintech, has launched a global expansion after raising $1.7 million in a pre-Series A round to capitalize on opportunities in emerging markets, where digital lending apps have proliferated. 4Di Capital, Octerra Capital, VestedWorld, Voltron Capital, Logos Ventures, and several other angel investors participated in the latest round, bringing the total…
As the Twitter debates continue, most tech founders and venture capitalists have chosen a side: Web 2.0 or Web 3.0. Web3 proponents believe it is the internet’s future, and that blockchain-based products will completely replace Web 2.0 within the next few years. Web 2.0 stalwarts argue that it’s all just hype spewed by crypto bros…
Fixit45, a Nigerian startup, has launched its one-stop-shop platform for car owners, connecting them with a variety of necessary services. Fixit45’s current iteration was released in July of last year, but the business and model have evolved over the last two years or so. “So, before Fixit45 became a standalone brand with its own set…
Network for Social Entrepreneurship Ashoka and the pharmaceutical company Boehringer Ingelheim have opened applications for their Making More Health accelerator program (MMH). Ashoka identifies and supports the world’s leading social entrepreneurs, learns from patterns in their innovations, and mobilizes a global community to embrace these new frameworks in order to create a “everyone a changemaker…
Volaris Group Inc. (Volaris) has acquired Adapt IT Holdings Limited (“Adapt IT”) for R7 per Adapt IT share, effective 3 January 2022. Volaris is a wholly owned subsidiary of Constellation Software Inc., a publicly traded company in Canada. All conditions and regulatory approvals, including those from various competition authorities, the Takeover Regulation Panel, and the…
Africa, with over 700 banks, is one of the world’s most promising untapped banking markets. As incomes rise, the African continent will become a more appealing market for various banking services such as loans, investments, and savings. Consumers, on the other hand, have new preferences and expectations from the banking system, which is changing the…
Aspiring entrepreneurs and innovative startups from Nigeria are encouraged to apply for two new entrepreneurship programs developed by the University of Oxford. The Oxford Foundry, University of Oxford, and FMDQ Private Markets Limited announced a global partnership in July with the goal of fostering collaboration and knowledge exchange between the UK and Nigerian angel investment…
Airbnb, the popular accommodation-booking platform, may start accepting cryptocurrency payments this year. Airbnb CEO Brian Chesky shared a list of customer requests on Twitter, with enabling crypto payments ranking first. Chesky stated in his post that his company is already working on most of the customer suggestions, while promising to investigate others. Recently, a number…
Volvo Cars and self-driving sensor maker Luminar Technologies announced on Wednesday that a hands-free driving system called “Ride Pilot” will be available for the first time in California, though no specific date was given. Volvo intends to use the technology, which will allow the car to fully take over driving tasks in certain limited situations,…
In many ways, 2021 was a watershed moment for online privacy. Apple released an update in April 2021 that allowed users to opt-out of app tracking, with the majority of iPhone users having done so by the end of the year. There were even discussions about turning off tracking technology in the world’s most popular…
In 2021, more and larger deals were closed in Africa, with tech startups across the continent raising nearly $5 billion. This amount was more than double the previous year’s investment and nine times what was raised five years ago, demonstrating how much the startup scene has changed in recent years. According to a report by…
mPharma, a Ghanaian health tech startup, is establishing a network of community pharmacies across Africa with the goal of becoming the region’s primary healthcare provider for millions of people. MPharma intends to expand its community (Mutti) pharmacies across eight African markets in order to serve as patients’ first point of contact. Mutti pharmacies are essentially…
Alvin, a Kenyan startup that helps people align their daily spending around savings goals, has raised a US$740,000 pre-seed funding round as it continues to hone its product, which is currently in private beta. Alvin, which was founded in May of last year, is a smart money manager app that uses automated budgeting, personalized offers,…
While 2021 was the crypto year, 2022 will be the custody year. Central banks all over the world are racing to develop and launch their own CBDCs, and surveys indicate that investment in digital assets will continue to rise. Blockchain-powered digital assets have the potential to completely reshape how we interact with the financial system….
Alphabet-owned Google announced the acquisition of Israeli cybersecurity startup Siemplify by its cloud division on Tuesday, as the US tech giant expands its security offerings in the face of rising cyber attacks. The financial terms of the transaction were not disclosed by the companies, but a source familiar with the matter stated that Google paid…
Kosovo’s government banned cryptocurrency mining on Tuesday in an effort to reduce electricity consumption as the country faces the worst energy crisis in a decade due to production outages. “All law enforcement agencies will halt this activity in collaboration with other relevant institutions that will identify the locations where cryptocurrency production occurs,” Economy and Energy…
According to the CEO of a game-changing global financial giant, Bitcoin will be legal tender in three more countries by 2022. Nigel Green of deVere Group, one of the world’s largest independent financial advisory, asset management, and fintech organizations, doubled down on a prediction made by El Salvador’s President on Sunday. Nayib Bukele tweeted a…
The rate of digital transformation in Nigeria (and across Africa) is increasing; there were 104.4 million internet users in Nigeria in January 2021, a 19 million (+22 percent) increase between 2020 and 2021. In January 2021, Nigeria’s internet penetration will be 50.0 percent (source). So, what does all of this mean? Because of the increase…
Many people believe that the latest paradigm shift for the internet is already underway: the metaverse, they claim, is almost here. When a company invests in a space and the media declares a moment, it’s reasonable to take a step back and see if the reality can live up to the hype. But, if this…
Windowshoppi, a Tanzanian startup that allows users to post photos, add locations, and recommend products, is hoping to boost local commerce with new product releases in the new year. Windowshoppi is a product discovery app that will be released in September 2020. Users can upload photos, include links and locations in their posts, and recommend…
Tesla’s goal of bringing electric vehicles into the mainstream is gaining traction, as evidenced by the company’s consistent growth in deliveries. As the EV manufacturer ramps up production, the number of delivered vehicles is expected to reach all-time highs in 2022. According to Finbold data, Tesla’s 2021 deliveries totaled 936,172, an increase of 87.4 percent…
Digital Realty, an American real estate investment trust, has agreed to buy a majority stake in Teraco Data Environments, a South African data center and interconnection solutions provider. Teraco released a statement on the subject. Following the transaction, which is expected to close in the first half of 2022, Digital Realty will own approximately 55…
Gahez, an Egypt-based e-commerce startup and business-to-business fashion marketplace, recently raised $2 million in funding. The pre-Seed round was attended by Disruptech Ventures, Egypt Ventures, Tanmeyah (an EFG Hermes company), Afropreneur fund, and other strategic angel investors. Gahez launched as an online marketplace at the end of 2021 with the goal of transforming the wholesale…
Ethiopia’s beU Delivery and Nigeria’s IdentityPass are among the 40 startups confirmed as participants in the W22 batch of the renowned Silicon Valley-based accelerator Y Combinator. Between now and March, the W22 batch of the Y Combinator program, which has played a role in the early days of companies such as Airbnb, Coinbase, and Dropbox,…
Mercedes-Benz unveiled the Vision EQXX, a solar-powered concept car that can travel more than 1,000 kilometers (648 miles) on a single charge. After several weeks of teasing, Mercedes finally unveiled the vehicle (virtually) at the Consumer Electronics Show in Las Vegas. Because of its sporty intentions and sleek, futuristic design, the Vision EQXX is likely…
Apple made history on Monday when it became the first company to have a market value of $3 trillion. During Monday’s intraday trading, Apple briefly reached a market value of $3 trillion before resuming its decline. When the company’s stock price reached $182.86, it was the first to do so. Apple has a $2.99 trillion…
Flat6Labs, a Cairo-based accelerator and investor, has partnered with ESLSCA University to launch a new innovation and entrepreneurship incubation program that will enable undergraduate students to develop viable and sustainable businesses upon graduation. Flat6Labs, founded in 2011 and headquartered in Cairo, is a seed and early-stage venture capital firm with multiple offices throughout the MENA…