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East Africa’s Fintech Boom: What’s Driving It and What Comes Next

East Africa’s Fintech Boom: What’s Driving It and What Comes Next

East Africa experienced a fintech revolution. Once defined by limited banking infrastructure, the region now stands at the forefront of Africa’s digital financial future, with fintech startups driving innovation, investment, and financial inclusion. The seeds of this fintech boom were sown in 2007 with the launch of M-Pesa in

Pinnacle Financial Partners, Tarkenton and gener8tor Launch FinTech Accelerator for Underrepresented Founders in Atlanta

Pinnacle Financial Partners, Tarkenton and gener8tor Launch FinTech Accelerator for Underrepresented Founders in Atlanta

Pinnacle Financial Partners, Tarkenton Companies, and gener8tor are collaborating to offer new business opportunities to underrepresented founders within the local financial community. The organizations are launching a startup accelerator in partnership with Pinnacle, with an initial investment of $1 million. The announcement and check presentation will take place this Thursday,

BURN Secures $5M to Scale Electric Cooking in Kenya

BURN Secures $5M to Scale Electric Cooking in Kenya

Kenya’s clean energy push has received a significant boost, as African cookstove manufacturer BURN secures USD 5 million from the Electrification Financing Initiative (ElectriFI), backed by the European Union and managed by EDFI Management Company. The funding will accelerate the deployment of BURN’s ECOA Induction Cooker (ECOA IDC)

Safaricom Unveils Program to Accelerate Kenyan Startups

Safaricom Unveils Program to Accelerate Kenyan Startups

Safaricom has opened applications for the 2025 edition of its Spark Accelerator Program, a platform designed to support bold and visionary early-stage startups. The 14-week program, scheduled to commence in August 2025, aims to empower businesses with the resources and tools needed to scale. The initiative is a collaboration between

3 Kenyan Startups Selected for Entrepreneurship Summit in Beijing

3 Kenyan Startups Selected for Entrepreneurship Summit in Beijing

Three Kenyan startups have been selected to represent the country at a Global Entrepreneurship Summit in Beijing, scheduled for October 2025, following a newly established partnership between Konza Technopolis Development Authority and HICOOL, a global innovation platform based in China. The three startups heading to Beijing include Composi.it, a

Uganda Proposes 3-Year Tax Break for Local Startups

Uganda Proposes 3-Year Tax Break for Local Startups

The Ugandan government has introduced the Income Tax Amendment Bill, 2025, which proposes a three-year income tax exemption for startup businesses established by Ugandan citizens. The bill presented to Parliament by Finance Minister Matia Kasaija states that its aim is “to provide for the exemption of startup businesses established by

Kenya's Craydel Expands Edtech Services to Rwanda

Kenya's Craydel Expands Edtech Services to Rwanda

Craydel, founded in 2021 by Manish Sardana, John Nguru, and Shayne Aman Premji, has officially launched operations in Rwanda. The Kenyan edtech startup operates in five countries: Kenya, Nigeria, Uganda, Zimbabwe, and Rwanda. Unlike most edtech companies in single markets, Craydel has taken a continental approach, offering a unified digital

Wakandi Seeks $50 million to Digitize SACCOs in Kenya

Wakandi Seeks $50 million to Digitize SACCOs in Kenya

Norwegian fintech firm Wakandi has launched a capital raise of USD 50 million (Ksh6.5 billion) to accelerate the digitisation of Savings and Credit Cooperatives (SACCOS) and cooperatives across Africa, with Kenya at the centre of its strategy. Speaking in Nairobi during the signing of a partnership between Wakandi and

East Africa’s Roam, Numida & Inkomoko On FT Africa Growth List

East Africa’s Roam, Numida & Inkomoko On FT Africa Growth List

A handful of East African companies have earned spots on the Financial Times’ 2025 ranking of Africa’s Fastest-Growing Companies. Among the standout performers is Rwanda-based Inkomoko Entrepreneur Development Ltd, which ranked 8th overall. The company, active in fintech and financial services, posted a remarkable 2,914.1% absolute growth

Ethiopia Secures Three-Year Deal with JICA to Power Startup Growth

Ethiopia Secures Three-Year Deal with JICA to Power Startup Growth

A three-year initiative to strengthen Ethiopia’s startup landscape has officially kicked off with a partnership between the Ministry of Innovation & Technology (MiNT) and the Japan International Cooperation Agency (JICA). The agreement sets the stage for a technical cooperation project tailored to elevate the startup ecosystem. Kenuske Oshima, Chief

Rwanda's Startup Ecosystem Attracts German Investment Despite Political Tensions

Rwanda's Startup Ecosystem Attracts German Investment Despite Political Tensions

A German tech company is doubling down on its investments in Rwanda’s growing ICT sector, signaling strong confidence in the country’s potential, even amid political tensions in Europe. TestSolutions GmbH, a global software testing firm, has been operating in Rwanda through its subsidiary, TestSolutions Rwanda (TSR), for over

Kofa Expands Operations in Kenya with $8.1 Million Investment

Kofa Expands Operations in Kenya with $8.1 Million Investment

Kofa, a Ghana-based renewable energy company, has secured $8.1 million in pre-Series A funding to expand its AI-powered battery-swapping network across urban centers in Africa. This funding round includes $3.25 million in equity, $4.32 million in debt, and $590,000 in grants. The company plans to use

Africa's E-Mobility Firm Spiro Launches in Tanzania

Africa's E-Mobility Firm Spiro Launches in Tanzania

African e-mobility firm Spiro has launched operations in Tanzania, as part of its broader growth strategy. The company has deployed over ten battery swapping stations in the country and plans to expand this into a nationwide network. To further support the e-mobility sector, the company will introduce bank-financed assets, flexible

Mentorship Crucial for the Future of Kenya’s Startups, Stakeholders Say

Mentorship Crucial for the Future of Kenya’s Startups, Stakeholders Say

Key players in Kenya's startup ecosystem are urging seasoned entrepreneurs to share their knowledge and experience with emerging founders, in a bid to foster the long-term growth and sustainability of local startups. “Entrepreneurial success extends beyond profit and valuation — true impact lies in paying it forward. At Endeavor,

African Startups Struggling to Attract Foreign Investment

Venture Capital

African Startups Struggling to Attract Foreign Investment

African startups are finding it increasingly difficult to attract foreign investment due to heightened perceptions of risk, according to a new report by the International Finance Corporation (IFC), the investment arm of the World Bank. The report, Venture Capital and the Rise of Africa’s Tech Startups, reveals that despite

Zemen GEBEYA: Ethiopia’s Digital Marketplace for Startup Growth

Zemen GEBEYA: Ethiopia’s Digital Marketplace for Startup Growth

Ethio Telecom has launched Zemen GEBEYA, a digital marketplace aimed at transforming Ethiopia’s commercial landscape. The platform will connect businesses, especially Micro, Small, and Medium Enterprises (MSMEs), with consumers nationwide. Integrated within the telebirr SuperApp, it also plans to facilitate trade across urban and rural Ethiopia. According to the

Cassava Technologies Signs Memorandum of Understanding with Zindi

Cassava Technologies Signs Memorandum of Understanding with Zindi

Cassava Technologies , a multinational technology company that offers a comprehensive ecosystem of digital services and infrastructure, has signed an MOU with Zindi. With its business units Cassava AI, Liquid Intelligent Technologies, Liquid C2, Africa Data Centres, and Sasai Fintech, Cassava, which has its headquarters in the UK, is present in

PalmPay Expands East Africa Footprint with Uganda, Tanzania Launch

PalmPay Expands East Africa Footprint with Uganda, Tanzania Launch

Nigerian fintech PalmPay has announced plans to launch operations in South Africa, Côte d’Ivoire, Uganda, and Tanzania before the end of 2025. This expansion will grow its operational footprint to six countries, adding to existing operations in Nigeria, Ghana, and Kenya. The fintech also disclosed that it now boasts

Worldcoin to Erase Biometric Data in Kenya Under ODPC Supervision

Worldcoin to Erase Biometric Data in Kenya Under ODPC Supervision

The Kenyan High Court has ruled that Worldcoin’s collection of biometric data from Kenyans was unconstitutional due to its failure to carry out a Data Protection Impact Assessment. In an affidavit, Deputy Data Commissioner Oscar Otieno said that having reviewed the Worldcoin project operations in the country, he was

Future Forex to Bring Cost Transparency and Savings to International Transfers

Future Forex to Bring Cost Transparency and Savings to International Transfers

A market estimated to be worth more than R15 billion a year to the banks is facing stiff headwinds from local fintech innovators like Future Forex. The company is successfully redefining the standards in the international money transfer industry, introducing a level of cost transparency and client service rarely seen

Parket is Revolutionizing Automate Parking Lots in South Africa

Parket is Revolutionizing Automate Parking Lots in South Africa

Established in 2019 by Joshua Raphael, Parket was the first company in South Africa to offer a high-volume parking solution with ticketless parking lots that provide better convenience for landlords, visitors, and tenants. He said, "It is more cost-effective for landlords and much more sustainable for greener buildings. We

Meta Launches Tools to Curb Payment Fraud

Meta Launches Tools to Curb Payment Fraud

Meta, the company behind Facebook, Instagram, and WhatsApp, has announced tools to help people spot and avoid online investment and payment scams. These tools, tips, and partnerships will help people globally identify and avoid online scams as these scams continue to grow in sophistication and scale across social media and

Overcoming the Rural Connectivity Divide in SA

Overcoming the Rural Connectivity Divide in SA

Africa requires economic growth, social development, and an overall improvement in quality of life. Rural connectivity is key, as it enables access to essential services, opportunities, and resources that are often otherwise unavailable in remote areas. Connectivity provides the foundation of better access to information, allowing communities to transform and

AI-powered SOC is essential for protecting against self-attacks

AI-powered SOC is essential for protecting against self-attacks

Security Operations Centre, a company that is an AI driven is essential to businesses that would like to leverage real-time threat response in the age of autonomous attacks, this comes from the security experts from BUI, who are scheduled to speak at the ITWeb Security Summit 2025 on 3 June

JHB Mayor Eyes AI to Boost Service Delivery

Artificial Intelligence

JHB Mayor Eyes AI to Boost Service Delivery

The Johannesburg City has set its sights on using Artificial Intelligence (AI) to improve the poor service delivery in South Africa's economic hub. The Joburg executive mayor, Dada Morero, mentioned this when he delivered the State of the City Address. During his speech, Morero also mentioned that the