The runway available to meet investor expectations, launch a funding round, or create a sustainable business is determined by a startup’s burn rate, which is its monthly operating expenses. Effectively controlling this rate is essential for long-term survival because excessive expenditure can quickly exhaust resources and impede growth. This is the opinion of Aysha Saifi,…
The Anzisha Prize, which honors champions for their capacity to successfully develop their businesses, has recognized four African entrepreneurs as its winners. Recently, in Johannesburg, South Africa, the annual Anzisha Prize final was held. Mathias Yabe, Nzinga Antonio, Sharon Alyorneku, and Ivo Bonfirm became victorious overall. In addition to receiving US$10,000 apiece, the winners get…
Startups come into existence for the purpose of solving a particular problem in the society. Every startup aims to be a worthy investment in the eyes of its potential investors. A startup’s business end goal, is to be valuable and have the ability to always connect to its end users. What is a startup business?…
It was a challenging year for tech entrepreneurs in Africa. As previously projected, obtaining venture funding proved to be challenging; bridge and down rounds were commonplace; and rumors of fire sales, layoffs, and business closures spread over the continent. Startups and scale-ups in Africa have experienced far-reaching implications as a result of the overall amount…
Though there were initially expectations that the nascency of the African tech ecosystem may mean it spared too much damage, the expanding extent of the continent’s “startup graveyard” implies that is not the case. Venture capital financing has fallen dramatically globally in 2023. According to PitchBook data, venture capital funding nearly halved globally in the…
Startups have become vital engines of change that can have an outsized impact on an economy. They are crucial in fueling innovation and enhancing economic and digital competitiveness. They improve access to products and solutions while significantly contributing to employment. In recent years, amid global economic volatility and uncertainty, Africa’s startup ecosystem has shown continued…
A list of 10 promising Nigerian startups that are overcoming the current obstacles and garnering attention in 2022 has been released by the world’s largest professional networking site, LinkedIn. This list’s main objective is to be a resource for job searchers who are willing to work for a cutting-edge startup, make a major contribution to…
Leatherback, a cross-border payments network based in the United Kingdom, has received a $10 million Pre-Seed fundraising round from Zedcrest Capital, a major pan-African principal investment group. The funding will allow the growing Fintech company to focus on critical activities, including hiring strategic roles, elevation in its marketing and branding strategy, and traction and visibility…
Kudi, an African payment network, has rebranded as Nomba. This was announced in a press release as part of the company’s transition from a single payment platform to an omnichannel payment platform. Payment collections, trade finance, company reporting, and multiple location administration are among the new business capabilities produced by the new omni-channel payment platform,…
Elloe is a first-of-its-kind AI-powered conversational commerce platform that allows SMEs to buy and sell products online across any messaging platform. It was founded by Owen Sakawa. Mad Ventures, located in the Philippines, led the US$1 million pre-seed fundraising round, which would help Elloe expand across Kenya and other emerging economies. “The opportunity to engage…
Customer satisfaction should be a business aim as it is vital to success for all brands. Customer satisfaction can be improved through user experience, which can have a favorable impact on your company’s return on investment (ROI). A happy customer is a satisfied customer. Customers that are dissatisfied with your service are less likely to return. From research,…
The most well-known use of blockchain is to facilitate the emergence of digital currency. But did you realize that this technology has a plethora of other uses? Many large organizations and government bodies use it to improve their current business processes. That isn’t to say that only established businesses can benefit from blockchain technology. It…
Until now, the African startup ecosystem has been dominated by Nigeria, Kenya, South Africa, and Egypt (‘the Big 4’), countries that continue to receive the majority of venture capital and other forms of investment. However, the situation appears to be gradually changing as notable startups emerge from other countries on the continent and investors look…
Stitch, a South African API finance business, announced in January that it would conduct a “startup showcase” to allow early-stage fintech from across the continent to share their solutions with local and global investors and receive support, according to Disrupt Africa. The event was part of a Stitch-hosted meetup for global fintech investors interested in…
Susu, a global health-tech business dedicated to making healthcare accessible and affordable to all Africans, has raised €2 million in a pre-seed round. Angel investors, grant financing from BPI France, the French government’s public investment bank, and debt were used to raise the funds. Bola Bardet, Laurent Leconte (Chief Technology Officer), and Sandrine Egron (Chief…
Every young aspiring digital entrepreneur in Africa is encouraged to apply for MEST Africa’s 12-month technology and entrepreneurship training program. With the Class of 2022 in full swing, it’s time to get back into the recruiting swing of things and formally open up applications for the Class of 2023. MEST Africa receives around 4000 applications…
Circle, founded in 2020 by Nancy Kamal and Essam Maged and sponsored by 500 Global, makes it easy for real estate developers and property owners to interact with tenants. Milango, on the other hand, was founded by Amr Mostafa in 2021 and provides business clients with a suite of community management solutions to help them…
The Createch Accelerator focuses on businesses that employ innovation or technology to improve value chains in Africa’s creative industries or to address market problems in these value chains. The program’s goal is to provide knowledge, networks, and assistance to companies operating at the interface of technology and creativity, allowing them to accelerate their route…
LoftyInc Capital Management is a venture capital business with the goal of “creating an ecosystem of Africans investing in Africans solving African problems.” The business announced the first closing of its US$10 million LoftyInc Afropreneurs Fund 3 (LAF3) in September, as it ramped up its participation in the African startup area. This followed after…
Impact-Driven Startups Are a Gold-Mine for Investors Written By Krishna Athal ENTREPRENEUR LEADERSHIP NETWORK CONTRIBUTOR Investors across the globe are finding ways to unleash the power of their capital by trying out different industries and business models. Most investment-seeking entrepreneurs believe that projecting massive profits is the best way to impress investors. Many entrepreneurs also…
Budding entrepreneurs across Africa can now apply to join the second annual Tony Elumelu Entrepreneurship Programme (TEEP) for start-up businesses based in Africa. The Tony Elumelu Entrepreneurship Programme application portal opened January 1, 2016 and will accept applications until Midnight WAT on March 1, 2016. To apply, entrepreneurs must complete the online application form on…
Facebook is launching the Internet.org Innovation Challenge in Africa, with the aim of recognising developers and entrepreneurs who are using the internet to improve the standard of education and economic health in their communities. Developers across Africa are invited to enter the challenge. Facebook will present an Innovation Challenge Award of US $150,000 to the…
Orange announced the winners of the 2015 Orange African Social Venture Prize during the AfricaCom Awards ceremony held in Cape Town last night. For the fifth year in a row, the Orange Group is recognizing three innovative projects that are set to stimulate development in Africa. The prize aims to encourage entrepreneurs as they launch initiatives…
A solar-powered high-tech greenhouse, systems to stop electricity theft, and food supplements made from caterpillars are among twelve innovations shortlisted for the 2015/2016 Africa Prize for Engineering Innovation by the Royal Academy of Engineering. Also selected are mobile technologies which guide parents through pregnancy and connect heart patients to cardiologists, and a three-wheeled mini-tractor which…
Our guest this week on the Break Digit Show is Dr. Femi Kuti, (not the singer) founder of Kangpe.com Femi, a Doctor and investment banker thought Nigerians were so used to self-medication, falls prey to quack doctors, while some (my category) will not visit the hospital on time, but will rather nurse little ailment(s) till…
SimbaPay – a leading digital money transfer provider – was on Friday, 25 Sep 2015 announced as the winner of the prestigious DEMO Africa 2015 event which was held in Lagos, Nigeria. SimbaPay now automatically qualifies for the global DEMO event that will be held in Silicon Valley, USA. At DEMO Africa 2015, SimbaPay showcased…
Seedstar’s Start-up pitch will be coming to 12 cities in Africa this May 26th 2015 till November 27th 2015. If your Start-up is in Africa you can apply on their website here. If you win then you stand a chance of competing for the $1.5 million dollars in equity at the Seedstars World competition. The 12…