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Egypt-based startup, Trella raises $42 million in series A round led by Maersk

Egypt-based startup, Trella raises $42 million in series A round led by Maersk

Trella, an Egypt-based trucking startup has announced the raise of $42million in a Series A round comprised of equity and debt. The round includes $30 million in equity investment and $12 million in debt financing. The equity round was led by Maersk Growth, the corporate venture arm of one of

MTN achieves 88.9% nationwide coverage in Nigeria

MTN achieves 88.9% nationwide coverage in Nigeria

Nigeria’s largest mobile network operator, MTN, has announced that it has now reached an extensive nationwide network coverage of 88.9%. Nairametrics reports that this information was disclosed during the company’s Annual General Meeting which held on Monday, June 7, 2021. The company has also reached 80.4%

African Crypto Startups Audacity Fund launches with New Investors

African Crypto Startups Audacity Fund launches with New Investors

Erikan Obotetukudo co-founder of Crypto for Black Economic Empowerment (CBBE), has announced the launch of Audacity Fund, a new crypto venture capital fund. CoinShares CSO Meltem Demirors, IDEO CoLab Ventures, and Electric Capital, which invests in early-stage FinTech and crypto companies, are among the investors in Audacity. Trump following Nixon

Bank of Uganda Launches Regulatory Sandbox Regime for Fintech Startups

Bank of Uganda Launches Regulatory Sandbox Regime for Fintech Startups

The Bank of Uganda (BOU) has announced creating a Regulatory Sandbox Framework that allows Fintech startups to test their innovative financial products in a safe environment. Prof. Tumusiime-Mutebile, Governor of The BOU, said that the program aims to develop and test their financial innovations in this framework. He further explained

Partech-backed TradeDepot Inc in talks to raise Series B funding

Partech-backed TradeDepot Inc in talks to raise Series B funding

Nigeria-based startup, TradeDepot, a fast-moving consumer goods platform that connects informal retailers to distributors and manufacturers is reportedly in talks to kickstart a Series B funding round. According to sources familiar with the matter, International Finance Corporation (IFC) is evaluating a bid to invest $10million in TradeDepot to pick up

Nigerian Topship raises funding from Angel Investors to scale

Nigerian Topship raises funding from Angel Investors to scale

Nigerian tech shipping platform helping Nigerian merchants ship locally and internationally Topship, has announced it raised an undisclosed amount in a funding round by angel investors from both the United States and Nigeria. Topship allows merchants to select from a wide range of shipping options (express, basic, and cargo) based

Babajide Duroshola steps down as Safeboda Country Manager

Babajide Duroshola steps down as Safeboda Country Manager

Babajide Duroshola, the country manager for Safeboda has stepped down from his role at the ride-hailing startup. This announcement was made via a Medium post by Babajide Duroshola, the outgoing country manager on Friday. The statement reads “On the 6th of May 2019, I took the job to be Safeboda’

Egyptian Fintech Startup Khazna to launch prepaid card

Egyptian Fintech startup Khazna has announced has partnered with the Abu Dhabi Islamic Bank (ADIB) Egypt and Masria Digital Payments (MDP) to launch its Khazna Card. With Khazna’s super app already able to provide users with earned wage access, bill payment, and purchases of electronics and household products, the

Nigerian SEC launches incubation programme for investment Fintech startups

Nigerian SEC launches incubation programme for investment Fintech startups

The Nigerian Security and Exchange Commission (SEC) has released new guidelines for investment fintech companies in the country. Starting from the third quarter of 2021, fintech platforms seeking to operate or currently operating in the country will undergo a compulsory incubation program before they can conduct their businesses legitimately. According

TeamApt eyes unicorn status on the back of an agency banking boom

TeamApt eyes unicorn status on the back of an agency banking boom

TeamApt, a Nigerian fintech company, with headquarters in Lagos has disclosed that it is currently leading the country’s agent banking business with a network strength of over 100,000 agents. This was revealed by Tosin Eniolorunda, Founder and CEO of TeamApt at a media event on Thursday. In the

Zimbabwean Bhala launches Mobile Virtual Keyboard for African languages

Zimbabwean Bhala launches Mobile Virtual Keyboard for African languages

Zimbabwean startup Bhala has launched a mobile virtual keyboard that uses machine learning and state-of-the-art deep learning models to improve the experience of writing in African languages. Bhala that started its service delivery in January 2021 supports word auto-complete, spellcheck, and word prediction in ChiShona, IsiNdebele, IsiXhosa, IsiZulu, KiSwahili, Sepedi,

MTN Nigeria provides clarification on service disruption, says it only affects few locations

MTN Nigeria provides clarification on service disruption, says it only affects few locations

MTN Nigeria has provided clarification on the widespread reportage that the company’s services will be disrupted in Nigeria. The telecom giant has described the reports as misleading. This clarification is coming on the heels of a message sent out by MTN Nigeria notifying its customers of a possible network

Kenyan Foodtech startup Kune raises $1m pre-seed funding

Kenyan Foodtech startup Kune raises $1m pre-seed funding

Kenyan Foodtech startup Kune delivers freshly-made, ready-to-eat meals at affordable prices and has announced it closed $1m in pre-seed funding round to help its scaling process. The funding round was led by Launch Africa Ventures, with anchor investments from Century Oak Capital GmbH and Consonance. Kune was launched in 2020

Crypto Fintech Centbee selected for regulatory sandbox

Crypto Fintech Centbee selected for regulatory sandbox

Johannesburg-based BitcoinSV Centbee cross-border remittance app, Minit Money has been selected as part of the first cohort for South Africa’s Intergovernmental Fintech Working Group (IFWG) regulatory sandbox- an initiative that allows innovators the opportunity to test new products and services under the supervision of relevant regulators. The IFWG regulators

UBA, fintech firm Layer partner to boost financial services in Africa

UBA, fintech firm Layer partner to boost financial services in Africa

Layer, a digital banking platform provider, has announced its partnership with the United Bank for Africa (UBA) to drive digital transformation and provide greater access to a broad range of financial services to its Kenyan customers. This new partnership will see the company add 18 million users across 25 different

Egypt’s Fashion E-commerce Platform DressCode raises $250k funding

Egypt’s Fashion E-commerce Platform DressCode raises $250k funding

Egyptian fashion and e-commerce startup DressCode has announced it secured $250k in funding to help it expand its offering, mostly in the home décor space. DressCode was founded in 2018 by the duo of Mohamed Abdel Dayem and Ali Zakaria. The startup has offered experiential retail environments and a well-curated

Wayja releases South Africa’s first P2P betting App

Wayja releases South Africa’s first P2P betting App

Johannesburg-based Wayja has announced it launched its cashless P2P betting platform. The app’s platform will allow users to connect with friends and make cashless wagers on anything, from anywhere. The startup which officially launched in 2020 by Reece Jacobsen and Clinton Holroyd has since been funded by seed capital

Helium Health Goes Live in Kenya

Helium Health Goes Live in Kenya

Nigerian health-tech startup, Helium Health has finally launched its presence in Kenya. This is coming after the startup raised $10 million in a Series A round and announced its expansion plans in May, last year. Launched in 2016 by the entrepreneurial trio of Adegoke Olobusi, Tito Ovia, and Dimeji Sofowora,

Nigerian Seso Global raises $600k pre-seed Funding round

Nigerian Seso Global raises $600k pre-seed Funding round

Nigerian prop-tech startup Seso has announced it raised $600k in pre-seed funding round as it bids to build on strong initial traction. Ventures that participated in the round include Kepple Africa Ventures, Rising Tide Africa, and Moabi Group, as well as angel investors Albert Essien, Ibrahim Sanga, and Jamie Broderick.

World Economic Forum selects 54Gene and Sokowatch as Technology Pioneers

World Economic Forum selects 54Gene and Sokowatch as Technology Pioneers

The World Economic Forum has announced its selection of the 100 most promising Tech pioneers of 2021 which includes companies that are shaping industries from their different sectors. The World Economic Forum’s Technology Pioneers include early to growth-stage tech companies from around the world focused on having a significant

Egyptian e-commerce platform Tejarra raises 6-figure seed round from U.S. VC Firm Openner

Egyptian e-commerce platform Tejarra raises 6-figure seed round from U.S. VC Firm Openner

The Egypt-based electronic e-commerce platform, Tejarra has raised a six-figure US dollar seed funding round to help it scale more quickly. Launched in January 2021 by Islam Erfan, Tejarra is an online B2B and B2C electronics platform for over 50 partner wholesalers, who ate currently offering over 18,000 products

Kenya’s MarketForce acquires Digiduka to Scale its Service

Kenya’s MarketForce acquires Digiduka to Scale its Service

Kenyan startup MarketForce has announced the acquisition of Digiduka to accelerate its services across Africa. MarketForce was launched in 2018, the startup enables an end-to-end retail distribution to allow consumer brands to optimize how they deliver essential goods and services to retailers and consumers by bridging the information gap in

Kenyan e-Commerce Startup Sky.Garden raises $4m in Series A funding

Kenyan e-Commerce Startup Sky.Garden raises $4m in Series A funding

Kenya’s e-commerce startup Sky.Garden has announced it closed a $4 million round of Series A funding to accelerate its growth. The round featured SANAD Fund for MSME, Aavishkaar, UNCOVERED FUND, and KSK Angel Fund, the latter founded by Japanese former AC Milan footballer Keisuke Honda. Sky. Garden was

Oman’s eMushrif Acquires Egyptian Edtech Startup Tareeqi

Oman’s eMushrif Acquires Egyptian Edtech Startup Tareeqi

Oman-based IoT-enabled mobility startup, eMushrif, has acquired Tareeqi, a Cairo-based Edtech startup, for an undisclosed amount. This acquisition is a continuation of eMushrif’s regional expansion plans, following its acquisition of MyRoute, a Kuwaiti startup specializing in bus tracking applications. This deal gave eMushrif the leverage to offer its services

Ethiopia to sell 40% stake in Ethio Telecom, to open its economy

Ethiopia to sell 40% stake in Ethio Telecom, to open its economy

The Ethiopian government has disclosed that it is opening up the tender process for the sale of a 40% stake in the government-owned telecom company, Ethio Telecom. What this implies is that potential investors can now indicate their interest to buy the stakes starting from Tuesday. This is the first