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Blessed Frank

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

Nigeria joins Kenya, 3 other African Countries to Pass a Startup Bill

African startups

Nigeria joins Kenya, 3 other African Countries to Pass a Startup Bill

The Nigerian Startup Bill was passed on the floor of the Nigerian Senate on Wednesday, July 20, 2022. The senators passed the bill following consideration of a report from the Committee on ICT and Cyber Security. Nigeria is now the fifth African country to pass the bill, following Tunisia, Senegal,

Arab Financial Services Expands its Digital Payments Solutions into the Egyptian Market

Arab Financial Services

Arab Financial Services Expands its Digital Payments Solutions into the Egyptian Market

Arab Financial Services (AFS), a leading digital payment solutions provider and fintech enabler in the MENA region, has announced plans to expand its payments footprint in Egypt by opening a branch in the North African economic powerhouse. AFS Egypt will provide the country’s businesses and financial institutions with the

FMO Invests $10m in Algebra Ventures’ Second Fund

Algebra Ventures

FMO Invests $10m in Algebra Ventures’ Second Fund

FMO, the Dutch entrepreneurial development bank, and Algebra Ventures, Egypt’s venture capital firm, have signed a $10 million commitment for the fund manager’s second fund in the presence of H.E. Mr. Han-Maurits Schaapveld, the Dutch ambassador in Cairo. Algebra Ventures’ second fund, announced in April 2021, will

Telda, Egypt’s Fintech Receives Final Approval from The Central Bank of Egypt to Launch Telda Card and App

Telda, Egypt’s Fintech Receives Final Approval from The Central Bank of Egypt to Launch Telda Card and App

Telda, an Egyptian fintech startup, has officially received the final approval from The Central Bank of Egypt (CBE) to start operating its card and application in the Egyptian market in a stride to fulfill financial inclusion and digital transformation goals as envisioned by the country’s apex bank. The Telda

Mohamed El-Sewedy Acquires Magma via Averroes Ventures for an Undisclosed Amount

Averroes Ventures

Mohamed El-Sewedy Acquires Magma via Averroes Ventures for an Undisclosed Amount

Averroes Ventures, an Egyptian early-stage VC firm backed by the Mohamed El-Sewedy, has acquired sportswear startup, Magma for an undisclosed sum. Averroes Ventures’ acquisition of Magma, one of Egypt’s promising sportswear manufacturers, will reposition the startup to meet the needs of an untapped segment of the Egyptian market. Magma

Cassava Technologies Secures $50m Strategic Investment from C5 Capital

Cassava Technologies Secures $50m Strategic Investment from C5 Capital

Cassava Technologies, Africa’s first integrated technology company on a continental scale, announced today that it has secured a $50 million investment from C5 Capital, a specialist venture capital firm that invests in cyber security, space security, and energy security. The investment is part of a larger funding round to

Netflix Begins Clamping down on Password Sharing, Introduces New Charge via ‘Add a Home’ Option

Netflix Begins Clamping down on Password Sharing, Introduces New Charge via ‘Add a Home’ Option

Netflix, the world’s leading streaming service, has announced that it will begin testing a new “add a home” feature in selected countries that will charge users who share their accounts with others. The test is part of the company’s recent effort to reduce password sharing. From next month,

Snapchat Rolls out its Web Version

Snapchat Rolls out its Web Version

Snapchat, a multimedia instant messaging app, announced the release of Snapchat for Web today, allowing users to send snaps and chat with friends via video calls from their desktops. This Snap for Web will initially be available to Snapchat+ subscribers in the United States, the United Kingdom, Canada, Australia, and

Instagram Rolls out New Payments Feature to Enable Users Buy Products Via DMs

Instagram Rolls out New Payments Feature to Enable Users Buy Products Via DMs

Instagram, one of the social networking sites owned by Meta, has today announced through its, CEO, Mark Zuckerberg that the company is launching a new “payments in chat” feature on Instagram. This new feature will allow users to purchase products from small businesses and track orders via direct messages on

Egypt’s Stllr Network Secures Six-figure Investment Round to Scale and Expand across MENA

Egypt’s Stllr Network Secures Six-figure Investment Round to Scale and Expand across MENA

Stllr Network, the largest network of vetted freelancers and teams in MENA, has secured a six-figure investment round following a public beta launch from 500 Global angel investors through Women Spark and Falak Angels. Other investors in the round include the KSA Ministry of Investment, ex-Microsoft and Oracle executives, Accenture,

Moove, an African Mobility Fintech Startup, Raises $20M in Funding to Expand Across the Continent

Absa Corporate and Investment Banking

Moove, an African Mobility Fintech Startup, Raises $20M in Funding to Expand Across the Continent

Moove Africa, a Nigerian-born global mobility fintech startup, announced on Thursday that it has received $20 million in funding from South Africa’s Absa Corporate and Investment Banking (CIB) to expand across the continent. The funding is the fintech’s first with an African bank, bringing Moove’s total fund

Zazuu Secures $2M to Scale its Cross-border Payment Marketplace for Africans

Founders Factory Africa

Zazuu Secures $2M to Scale its Cross-border Payment Marketplace for Africans

Zazuu, a United Kingdom-based and Africa-focused fintech startup that aggregates cross-border and remittance platforms, has raised $2 million in a new venture round to scale its cross-border payment marketplace. The pan-African investors, Launch Africa and Founders Factory Africa, British rapper Tinie Tempah, iROKOtv founder, and CEO Jason Njoku, and Kuda

Anava Fund of Funds Injects $5.2M into Silicon Badia’s BIF2

Anava Fund of Funds

Anava Fund of Funds Injects $5.2M into Silicon Badia’s BIF2

Anava Fund of Funds, managed by Tunisia-based Smart Capital, has committed $5.2 million to the Badia Impact Squared Fund (BIF2), a venture capital fund managed by Silicon Badia, a pioneering venture capital firm that invests in early-stage and growth-stage technology firms operating globally. The Tunisia-based investment body has a

Persistent Energy Secures $10m Equity Round to Scale its Clean-tech Venture Building in Africa

Financial Sector Deepening

Persistent Energy Secures $10m Equity Round to Scale its Clean-tech Venture Building in Africa

Persistent Energy announced a $10 million equity round led by Kyuden International Corporation, a subsidiary of the Japanese Kyushu Electric Power Group, and Financial Sector Deepening (FSD) Africa Investments to grow its clean-tech venture building business in Africa. Persistent’s Series C Preferred Units were used in the round, giving

Twitter ‘Unmention’ Feature Now Available to All Users

Twitter ‘Unmention’ Feature Now Available to All Users

Twitter announced the launch of its “Unmentioning” feature to all users on all devices. The new feature, which Twitter initially began testing in April, allows users to remove themselves from conversations they don’t want to be a part of. The media giant announced the new feature in a tweet,

Egypt’s MaaS Startup, Swvl Expands into Mexico with Latest Acquisition of Urbvan

Egypt’s MaaS Startup, Swvl Expands into Mexico with Latest Acquisition of Urbvan

Swvl Holdings Corp (NASDAQ: SWVL), an Egyptian startup that provides transformative tech-enabled mass shared transit for intercity and intracity trips, announced a definitive agreement to acquire Mexico-based Urbvan Mobility Ltd, a shared mobility platform that offers tech-enabled transportation services to Latin America’s second-largest country by population for an undisclosed

Morocco’s Startup, Aza Petrosolutions Secures $296K For Its Oil Distribution Solutions

Aza Petrosolutions

Morocco’s Startup, Aza Petrosolutions Secures $296K For Its Oil Distribution Solutions

Aza Petrosolutions, a Moroccan startup (formerly known as Aza Petroleum) has secured $296,000 funding from Maroc Numeric Fund II. The startup will utilize the funds to scale its offerings by designing more technological solutions and producing more smart and connected products for the oil distribution business in the North

Mdundo and Universal Music Group Sign Deal to Bring its Music Catalog to African Audiences

Mdundo and Universal Music Group Sign Deal to Bring its Music Catalog to African Audiences

Mdundo, a pan-African music streaming platform signed a licensing deal with the Universal Music Group (UMG), the world’s leading Music Company to make available UMG’s catalog to African users. The Afrocentric streaming platform says the deal will strengthen its offering to its 17 million active monthly users and

Damen Partner BKN301 and Cashflo to Roll Out mobile Wallet App

Damen Partner BKN301 and Cashflo to Roll Out mobile Wallet App

Damen, a digital Payment startup, is collaborating with BKN301, a fintech firm that develops payment services and Banking-as-a-Service functionalities, and Cashflo, BKN301’s exclusive Egyptian partner, to fully digitize its product infrastructure, expand its offering with innovative services, and improve user experience via its technology platform. The pledge is part

Twitter Lays Off 30% of its Recruitment Team

Twitter Lays Off 30% of its Recruitment Team

Twitter laid off 30% of its talent acquisition team on Thursday, according to the Wall Street Journal. This comes as the social media company continues in its back-and-forth acquisition deal that has lingered for months now with Tesla CEO, Elon Musk. You will recall that in May, Twitter announced a

Tunisia’s Fintech Startup, Paymee Secures six-figure in P1 Ventures-Led Round

Tunisia’s Fintech Startup, Paymee Secures six-figure in P1 Ventures-Led Round

Paymee, a Tunisian fintech startup that provides a digital payment gateway through Clic2Pay, has raised six figures in a P1 Ventures-led round. The led investor is a venture capital firm specializing in early-stage African FinTech. the funds will be used to accelerate product development and expand its enterprise offering. Marwen

Visa Partners Flocash to Promote Digital Capabilities for African SMEs

Visa Partners Flocash to Promote Digital Capabilities for African SMEs

Visa, the world’s leading digital payments company, announced today that it is partnering with Flocash, Africa’s fastest-growing fintech 2022, to promote digital capabilities for African SMEs through digital payments, supplier solutions, and access to financial services. The first step in this collaboration is the launch of Flostore, powered

Autochek acquires CoinAfrique to Expand into Francophone Africa

Autochek acquires CoinAfrique to Expand into Francophone Africa

Autochek, a pan-African automotive e-commerce company, has acquired CoinAfrique, a classified marketplace in francophone African countries, for an undisclosed sum to accelerate the penetration of its auto financing services in the region, particularly in Senegal and Côte d’Ivoire. The deal, which will see CoinAfrique’s team join Autochek and

TikTok is Experimenting with Restricting Live Streams to Viewers Aged 18+

TikTok is Experimenting with Restricting Live Streams to Viewers Aged 18+

TikTok, the video-based social networking platform, rolled out a series of policy updates and plans for new features and technologies to make the platform safer and more secure, particularly for younger users, months after it launched. In addition, TikTok has announced that it is testing a new setting that allows

Egypt Continues to Dominate the North African Tech Startup Space as it Cornered 53% of the Region's Funding in June

Egypt's tech startup funding

Egypt Continues to Dominate the North African Tech Startup Space as it Cornered 53% of the Region's Funding in June

Egypt with a population of about 102 million people, has maintained its dominance in almost all spheres of human endeavor, ranging from population, economy, and infrastructure development to sport. And it has now attracted the highest amount of tech startup funding to the region, dominating every month in the first