Blessed Frank

Exploring Africa's Tech Frontier | Unearthing Startup Gold 💰 | Decoding Crypto & Web3 | Your Guide to Emerging Markets #TechJournalist

African Healthtech

We Do Not Need Another Pandemic to Sustain the Growth of Healthtech in Africa

Healthtech, also known as digital health, is the intersection of healthcare and technology. It has been a rapidly growing industry globally in the last decade. The COVID-19 pandemic accelerated its growth, leading to a surge in demand for digital health solutions that helped to contain the spread of the virus

Cashless Policy

Dotting the 'I's and Crossing the 'T's for a Successful Implementation of the Cashless Policy in Nigeria

The recent scarcity of the naira across Nigeria as a result of the CBN directive to phase out old notes of the #1,000, #500, and #200 denominations has increased the country’s alternative payment options to an all-time high, a win for the CBN cashless policy. As we recently

ARM Labs Lagos

Lagos ARM Labs Techstars Accelerator Program Selects 12 African Startups for its Inaugural Batch

The African and Nigerian tech ecosystems are set to benefit greatly from the ARM Labs Lagos Techstars Accelerator Program. In partnership with Techstars and Lagos-based innovation ARM Labs, this program is focused on building early-stage African fintech and proptech startups. The program selected its inaugural class of 12 startups, comprising

Network Connectivity: What to Expect as Starlink Goes Live for the First Time in Africa

Starlink, owned by the American billion and Twitter CEO, Elon Musk is an internet satellite service supplied by SpaceX that intends to give high-speed, low-latency internet access to people all over the world, particularly in remote areas where conventional infrastructure is lacking. The network is made up of thousands of

cashless economy

Why We Need More Fintech Solutions in Nigeria

Since tech startups took the center stage in Africa in the last decade, fintech startups have effortlessly exacted their dominance with superior performance year after year. In 2022 for instance, African fintech startups received a whopping $1.6 billion across 240 announced equity fundraises from the total $4.84 billion

Digital Inclusion: Google Launches First Accelerator for African Women Startup Founders

Google has taken a crucial step toward empowering African women entrepreneurs through the launch of its first Google for Startups Accelerator: Women Founders Africa Program. The three-month accelerator program is designed to solve the particular problems that African women founders encounter, as well as to give them the resources and

A Closer Look at VCs’ Activities in Ghanaian Tech Startup Space in the Last 5 Years

Western African tech startups have continued to dominate the African tech startup funding landscape year after year. According to Big Deal data, regional startups raised more than $6 billion of the total funding raised by African tech startups since 2019. This translates to it attracting more investment than the combined

mTek Partners with Kyosk.app and Fin Africa to provide Insurance Covers to Over 100K Small-Scale Vendors 

Like most African countries, insurance penetration in Kenya is about 2.23%, compared to a global average of 7%, making Kenya the third lowest insurance penetration rate country in Sub-Saharan Africa, with South Africa leading at 17%, according to data from the Insurance Regulatory Authority, (IRA). Despite the low penetration

African Tech Startup Funding: Examining the Steady Growth of Debt Funding in the Last Five Years

African Tech Startup Funding: Examining the Steady Growth of Debt Funding in the Last Five Years The global tech startup scene in 2022 saw nothing nearing the fundraising euphoria of the previous year, as VC activity dropped by up to 35%. Except for Africa, the reluctance of VCs to sign

3 Nigerian, 8 Other Startups Selected For the Startupbootcamp AfriTech's Powered ASIP Accelerator in Dakar

Startupbootcamp AfriTech and telecommunication company, Telecel Group have announced the selection of 3 Nigeria tech startups and 8 others from 6 other African countries to take part in its third edition of the Africa Startup Initiative Program (ASIP) accelerator in Dakar, Senegal, with a demo day slated for May 25,

Bitcoin on the Rise: Is This Current Rise Enough to Restore Investors' Confidence in Crypto Just Yet?

In 2022, cryptocurrency investors experienced a rollercoaster ride, with prices plummeting after reaching all-time highs in late 2021, leading many to lose faith in the digital asset class. The crypto space of late can be described as a shade of everything, from good when Bitcoin, the largest cryptocurrency by market

TheOuut's Review of the African Tech Startup Ecosystem in 2022

Owing to the impressive performance of African Startups in 2021, which continued into Q1 2022, where over $1 billion was raised, experts such as the African Private Equity and Venture Capital Association (AVCA), were optimistic about Africa’s chances of eclipsing the $4.5 billion raised in 2021 to a

Creator Economy: TikTok Honours Top Creators in 2022 in Sub-Saharan Africa

Driven by mass poverty orchestrated by unemployment and embolden by the limitless opportunities provided by the internet, African youths have since tapped into the creator economy, a sector believed to be worth over $100 billion with over 300 million creators globally, according to an independently written report by Richard Florida,

Kenyan-Based Kwara Acquires IRNET Coop as Part of its Partnership with KUSCCO

Exit is still a very rare occurrence among African startups, as the ecosystem maintains a record low year after year. An exit strategy, according to Investopedia, is a contingency plan implemented by an investor, trader, venture capitalist, or business owner to liquidate a position in a financial asset or dispose

The Nigerian CleanTech Industry. Prospects and Opportunities

According to the World Bank report, over 85 million Nigerians lack access to grid electricity, representing about 43% percent of the country’s over 200 million population. Economically speaking that is a significant constraint for citizens and businesses, resulting in annual economic losses estimated at $26.2 billion which is

Crypto

Crypto Outlook in West Africa in '22. Driving More Adoption and Increasing Investors' Confidence in 2023

Globally, 2022 was a terrible year for the digital asset and cryptocurrency markets. After reaching all-time highs in November 2021, the value of most of the major cryptocurrencies has plummeted dramatically. Bitcoin is down about 60%, while Ethereum is down more than 65%. For many investors and crypto enthusiasts, the

Bolt Partners Fintech Startup, CradPal to Offer "Ride Now, Pay Later" Service in Nigeria 

Bolt, the ride-hailing platform, has entered into a partnership with CredPal, a Nigerian fintech startup, to provide a “ride now and pay later” service to its users, following an impressive performance in the previous year. Credpal’s partnership is a deliberate step toward developing seamless credit financing solutions for Nigerians

Financial Inclusion: The Nigerian Payment Industry in '22. What to Expect in 2023 

Despite significant progress in financial inclusion in Sub-Saharan Africa over the last decade, according to BPC’s Digital Banking in Africa report released on March 17, 2022, over 57 percent of its more than 1.1 billion population, which is also the world’s youngest overall population, with a median

flutterwave

Flutterwave: How Much Value Since Becoming the Most Valuable Startup in Africa Since Q1 '22?

The Pan-African fintech giant Flutterwave had a mixed year in 2022, beginning with an enthusiastic announcement of $250 million in series D fundraising in early February 2022. In a Tweet, the firm stated, “We’re entering 2022 with some bold objectives, and we’re doing all we can to make

Africa

A Call for More Investments as Africa Remains Least Innovative Despite a Thriving Tech Ecosystem

It’s not yet Uhuru for Africa, as the continent has historically lagged behind other regions in terms of innovation. Africa has been consistently ranked as the least innovative continent by the World Intellectual Property Organization in the last 13 years in terms of technological development, and economic growth, despite

Electric Vehicles

How Kenyan Tech Startup Ecosystem Consolidated its Place among the African Big 4 in 2022

Kenya has a flourishing tech startup ecosystem, with a plethora of successful startups that have received substantial funding and grown significantly. M-Pesa, a mobile payments startup that has revolutionized financial services in the country; BRCK, a hardware, and software firm that delivers internet connectivity and other technological solutions in areas

5G

Some Defining Moments in Nigerian Tech Startup Ecosystem in '22 that will Shape '23

Given the worldwide tech funding crunch caused by the economic meltdown, which resulted in mass layoffs, downsizing, and outright shutdown in the global tech industry, the Nigerian tech startup ecosystem performed exceptionally well in 2022. According to various figures released by individual companies, funding for the year dropped from $1.

EDFI ElectriFI

Why EDFI ElectriFI Splashes $7.5M on Solar Electrification in Nigeria and Kenya

Access to electricity remains a major challenge for Sub-Saharan Africa, even as the rest of the world has shifted its focus to safe and clean energy sources. According to the custodian agencies of Sustainable Development Goal (SDG) 7 report, “Tracking SDG 7: The Energy Progress Report,” – which examines the progress

Fintech

Kenyan Tech Startups Raise Record Funding in 2022

Kenya is the continent’s second most popular investment destination, trailing only Nigeria. As of November 2022, the ecosystem funding stood at $506,686,000 spread across 63 transactions. This represents a significant increase and nearly doubles the $291, 983,000 raised in the Kenyan Startups in 2021, as well

Nigerian prop-tech

Nigerian Prop-Tech Industry in 2022

The Nigerian prop-tech industry is currently valued at $2 billion and is expected to grow to $5 billion by 2025 with several tech startups driving its growth, innovation, and development. While the global Prop-tech market is expected to be worth $11.7 billion in 2022, it is expected to grow