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Flutterwave Appoints Oneal Bhambani, an ex-Executive of American Express, as CFO

American Express

Flutterwave Appoints Oneal Bhambani, an ex-Executive of American Express, as CFO

Flutterwave, Africa’s leading payments technology company, has announced the appointment of Oneal Bhambani as its new Chief Financial Officer. Oneal joins the unicorn company from American Express and Kabbage, where he managed large-scale fintech businesses and helped lead the sale of Kabbage and its integration into the American Express

Togolese Mobility Startup, Gozem, secures $10m from IFC to finance 6,000 vehicles in Togo and Benin

Togolese Mobility Startup, Gozem, secures $10m from IFC to finance 6,000 vehicles in Togo and Benin

Gozem can brag to being the biggest thing that has come out of the Togolese tech space. 4 years after Emeka Ajene created the startup, it has forged a part that other startups in the country can follow. The startup has since transitioned into offering a suite of services, including

Egypt's On-Demand Digital Warehousing and Fulfillment Platform, Khazenly Secures $2.5M Seed Funding

Arzan Venture Capital

Egypt's On-Demand Digital Warehousing and Fulfillment Platform, Khazenly Secures $2.5M Seed Funding

Khazenly, Egypt’s on-demand digital warehousing and fulfillment platform that offers an omnichannel solution to assist merchants in digitizing their businesses has received $2.5 million in seed funding. The startup, which bootstrapped its way to a soft launch in the middle of last year, has now received its first

Seed Fund: A Necessary Hurdle for Startups

Seed Fund: A Necessary Hurdle for Startups

The seed fund means a whole lot to the innovator. Think of the funding stage as the atmosphere, water and soil needed for startups to grow. The seed fund raise is the first official money received by the startup, and usually comes in smaller amounts compare to other stages. The

Kenya’s Jumba Secures $1M to Facilitate Seamless Restocking of Hardware Stores

Kenya’s Jumba Secures $1M to Facilitate Seamless Restocking of Hardware Stores

Jumba, a Kenyan B2B construction technology startup that allows operators of hardware stores (construction materials retailers), to seamlessly restock through its platform has today secured $1 million pre-seed funding to fine-tune its technology and expand its reach to capture markets in major cities across Kenya. Enza Capital led the pre-seed

An Amazing Decade with Jumia: Playing the Amazon Role in Africa for 10 Years

An Amazing Decade with Jumia: Playing the Amazon Role in Africa for 10 Years

Trade improvement has been a necessity for economies, especially as it informs the financial efficiency of the economy. However, tech has been used to acceleration of trade through e-commerce. Pan-African e-commerce giant has verifiably done the most in facilitating e-commerce in Africa. As Africans integrate the building blocks required for

MFS Africa Secures $100M Series C Extension Round to Scale and Expand across Africa, Asia

Admaius Capital Partners

MFS Africa Secures $100M Series C Extension Round to Scale and Expand across Africa, Asia

MFS Africa, the largest pan-African digital payments gateway has today announced that it has secured an additional $100 million in equity and debt funding led by the African investment manager, Admaius Capital Partners, taking the total funds raised in the series to $200 million. The extended round included new investors,

Should Africa be Normalizing 8-figure Rounds Now?

Should Africa be Normalizing 8-figure Rounds Now?

See Finish— a word commonly used by speakers of Nigerian Pidgin, to represent a situation where respect has lost due to prolonged proximity. TymeBank, Chipper Cash, Flutterwave, Wave, Opay, Andela, Jumo, MNT-Halan and TradeDepot all secured over $100m in a single funding round last year. These startups covered over 40%

Egypt's AI Startup, DXwand Secures $1M pre-Series A Round to Scale

Artificial Intelligence

Egypt's AI Startup, DXwand Secures $1M pre-Series A Round to Scale

Egypt-based AI startup, DXwand which operates Omnichannel conversational AI and digital assistants tool, has secured $1 million in Huashan Capital-led pre-Series A investment round with participation from angel investors like Mr. Mohsen Abulleil and Mr. Ahmed Bakeer and a return investment from its seed round investor, the US-based VC firm

Streaming Platform, Disney+ Enters 16 more markets across MENA

Streaming Platform, Disney+ Enters 16 more markets across MENA

One of the leading global streaming companies, Walt Disney Company has announced its launch of Disney+ in 16 markets across the Middle East and North African region (MENA). This comes barely a month after the launch of Disney+ in South Africa. The company has an ambitious goal of doubling the

Lessons from ThriveAgric: How the Agritech Platform Survived a Scare

Lessons from ThriveAgric: How the Agritech Platform Survived a Scare

ThriveAgric was founded by Uka Eje (CEO) and Ayodeji Arikawe (CTO) in 2017. The startup began its operations as an agricultural technology startup, providing access to finance, premium markets, and data-driven advisory. Its services were mainly for smallholder farmers. ThriveAgric’s priority is its customers. The startup uses its platform

Nigerian Gov’t Inaugurates 27-man Council on Digital Economy to Improve Ease of Doing Business

Council on Digital Economy

Nigerian Gov’t Inaugurates 27-man Council on Digital Economy to Improve Ease of Doing Business

In the wake of the country’s raking 131 out of 190 economies in the ease of doing business, per World Bank annual ratings, Muhammadu Buhari, the President of the federal republic of Nigeria, has inaugurated the Presidential Council on Digital Economy and E-government. The administration promised to continue to

Moroccan E-commerce Startup, Chari Enters Ivorian Market through Diago Acquisition

Moroccan E-commerce Startup, Chari Enters Ivorian Market through Diago Acquisition

Chari, a Morocco-based B2B e-commerce and fintech startup, has entered the Ivory Coast market by acquiring the Ivorian Diago. This app connects neighborhood shops to FMCG producers and importers. Diago, which operates solely in Abidjan, was founded in 2021 by Ali Ouattara and Amidou Diarra, two former Glovo and PepsiCo

GOMYCODE, Tunisia’s Edtech Startup Nabs $8M Series A Round to Scale across MEA Region

GOMYCODE, Tunisia’s Edtech Startup Nabs $8M Series A Round to Scale across MEA Region

GOMYCODE, a Tunisian-based edtech startup, said today that it had raised $8 million in an early-growth round led by AfricInvest and Proparco. Wamda Capital, a returning investor, also doubled down on its seed round investment in the digital learning platform. After raising $850,000 in venture funding in October 2020,

What Does Kenya’s Introduction of 20% Excise Tax for Digital Lenders Spell for Kenyans and Startups?

What Does Kenya’s Introduction of 20% Excise Tax for Digital Lenders Spell for Kenyans and Startups?

Digitalization has enabled businesses conduct business in locations where they do not have a physical presence. Tax laws are easier when they are based on a physical presence attributable to a permanent establishment rather than a virtual one. As a result, efficiently taxing the digital economy has become a critical

Virridy, Ecotech Startup Raises $5.5m Series A Round to Scale across Africa and North America

Virridy, Ecotech Startup Raises $5.5m Series A Round to Scale across Africa and North America

Kenya and US-based environment tech startup, Virridy which is committed to improving the management of environmental resources through technology, has raised $5.5 million in a Series A funding round to accelerate the development and adoption of its satellite-connected sensors for managing water, energy, and agricultural resources across Africa and

Kenyan Marketplace for Spare parts, Sparepap Raises Funding From Mobility 54

Kenyan Marketplace for Spare parts, Sparepap Raises Funding From Mobility 54

Sparepap, a Kenyan-based marketplace for engine spare parts, reinventing how Kenyans buy and sell spare parts through its app, named, SparePAP app, has raised an undisclosed amount. The funding came from Mobility 54 Investment, a corporate venture capital subsidiary of Toyota Tsusho Corporation, and the CFAO funding round. The after-sales

How Stitch Became an African Fintech Force in Just 1 Year

How Stitch Became an African Fintech Force in Just 1 Year

Stitch was officially launched in February 2021 after it had been in stealth mode 2 years. The south African Fintech startup has since pulled strides, ensuring that it disrupts the continent’s financial space. Stitch came out of stealth with a $4m seed round. The round has remained the largest

Africa-owned Fintech Firms, Chipper Cash and Esusu Named in Forbes Fintech 50 List 2022

Africa-owned Fintech Firms, Chipper Cash and Esusu Named in Forbes Fintech 50 List 2022

Africa-owned fintech firms, Chipper Cash which facilitates cross-border payments across Africa, and Esusu, a digital payment solution designed to simplify and automate the process of thrift savings, collection, microcredit, and financial inclusion for Africans have been named in the prestigious Forbes Fintech 50 list, 2022; Chipper Cash under Payments and

Nigeria's Klasha Secures Extra $2.1M to Bolster its cross-border Commerce

Nigeria's Klasha Secures Extra $2.1M to Bolster its cross-border Commerce

Klasha, a Lagos and San Francisco-based startup that provides multiple products for the African cross-border commerce space, has successfully secured $2.1 million from AMEX Ventures, the strategic investment group of American Express, and Global Ventures, a MENA-focused VC co-led investment, to round out its $4.5 million seed round.

The Next Wave: Income Inequality Concerns

The Next Wave: Income Inequality Concerns

A Global Outlook at Inequality The poorest half of the global population owns just 2% of the global total, while the richest 10% own 76% of all wealth. According to the UN, the average income of people living in North America is 16 times higher than that of people in

To issue prepaid cards to its clients, MFS Africa is acquiring U.S based GTP for $34M

To issue prepaid cards to its clients, MFS Africa is acquiring U.S based GTP for $34M

Pan-African digital payments company MFS Africa has announced plans to acquire U.S.-based Global Technology Partners (GTP) in a cash-and-shares deal worth $34 million. This deal, which is a very rare incident of an African company buying a U.S one will help MFS Africa consolidate on its next

Egypt's Insurtech Startup, Nice Deer Raises $1m Pre-seed Funding from DisrupTech

DisrupTech Ventures

Egypt's Insurtech Startup, Nice Deer Raises $1m Pre-seed Funding from DisrupTech

Egypt-based Nice Deer, an insurance tech-enabled startup that provides ingenious health insurance solutions to the Egyptian market has raised $1 million in a DisrupTech Ventures-led pre-seed funding round. Nice Deer was founded in Egypt early this year to bridge the gap between healthcare providers, health insurance companies, and health insurance

Nigerian Startup, ShopEX snaps $400,000 Pre-seed from HAVAIC

Nigerian Startup, ShopEX snaps $400,000 Pre-seed from HAVAIC

Nigeria based multi-channel retail startup, ShopEX, has raised a pre-seed funding of $400,000 from Cape Town venture capital firm, HAVAÍC. The investment forms part of a US$635,000 convertible notes round alongside existing angel investors. This brings the total investment raised by the startup to $885,000, with