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Nigeria's Central Bank fixes $10M as escrow fees in new capital requirements for fintech companies

Nigeria's Central Bank fixes $10M as escrow fees in new capital requirements for fintech companies

Launching a fintech startup is about to get more difficult in Nigeria, due to CBN’s new capital requirements ₦4bn (Four Billion Naira) for payment companies. In a circular released on Monday 24th of April, 2021, the Central Bank of Nigeria has issued new capital requirements for payment firms and

Europe’s Startup Wise Guys Expands to Africa, Starts First Program in Namibia

Europe’s Startup Wise Guys Expands to Africa, Starts First Program in Namibia

Europe’s B2B startup accelerator Startup Wise Guys have announced it is expanding its programs to Africa. The accelerator has plans for several programs in Africa and already has a program underway in Namibia. The accelerator firm plans an additional four programs for the continent by 2022, focusing on East

Carry1st and CrazyLabs launch gaming accelerator in Cape Town

Carry1st and CrazyLabs launch gaming accelerator in Cape Town

Africa is regarded as the fastest-growing region for mobile game downloads in the world. Despite this huge potential, there’s still a dearth of indigenous African games in the industry. More so, international studios often find it difficult to profitably serve African gamers due to unresolved distribution and digital payments

Egyptian agri-fintech startup, Mozare secures over $1M in pre-seed funding from Algebra Ventures

Egyptian agri-fintech startup, Mozare secures over $1M in pre-seed funding from Algebra Ventures

Mozare3, a Giza-based Agri-fintech startup that helps farmers sell their farm produce, has secured an undisclosed seven-figure investment in a pre-seed funding round led by Algebra Ventures and Disruptech Ventures. EFG-EV and other reputable angel investors also participated in the funding round. Mozare3 was founded in 2020 by Hussein Abou

UCT-based Accelerator selects 10 startups for its Accelerator Program

UCT-based Accelerator selects 10 startups for its Accelerator Program

The UCT GSB Solution Space has announced it is entering phase two of its annual E-Track Program involving a three-part venture acceleration and capacity-building program for high-impact startups. The acceleration program is partnered with ayoba. The program that started with the Venture Launch course has now seen 10 startups moved

Ugandans can now apply for $100k in EU Green Enterprise Funding

Ugandans can now apply for $100k in EU Green Enterprise Funding

Applications are currently open for the Uganda Green Enterprise Finance Accelerator (UGEFA) program, a four-year European Union (EU)-funded project that provides green businesses with customized loans and direct acceleration support. The UGEFA program is looking to provide funding ranging between $10,000 and $100,000 for eligible startups. Aside

Flat6Labs raises $10 million, plans to increase its cash seed offering

Flat6Labs raises $10 million, plans to increase its cash seed offering

Over the last few weeks, the Egyptian startup space has witnessed increased funding activities. From Telda’s impressive $5million pre-seed raise to Bosta and Homzmart securing huge amounts in their series A rounds. Most of these funding activities are only possible because of the active local and international investors and

Egyptain Startup, Tays, secures an Undisclosed Seven-figure Pre-seed investment

Egyptain Startup, Tays, secures an Undisclosed Seven-figure Pre-seed investment

Tays, an Egypt-based social and professional networking startup has secured an undisclosed seven-figure pre-seed funding from Angel Investors within the country’s startup ecosystem. Founded by Sherif Bacheet in 2020, the Egypt-based startup offers an end-to-end social networking app that uses machine learning to connect professionals based on similar interests.

YC Backed fintech startup, Mono, raises $2million seed funding

YC Backed fintech startup, Mono, raises $2million seed funding

Mono, a YC backed fintech startup working to improve financial inclusion and connectivity in Africa has raised $2million in seed funding. The company which says it is building the Plaid for Africa had earlier raised $500,000 in pre-seed funding last September, before bagging $125,000 from YC in February

Nigeria’s Bongalow adds to seed round with UNCOVERED FUND investment

Nigeria’s Bongalow adds to seed round with UNCOVERED FUND investment

Nigerian home financing startup Bongalow has announced it has raised an extra undisclosed seed fund in a seed funding round from Africa-focused Japanese venture firm UNCOVERED FUND. Bongalow is a mobile-powered home financing marketplace created by Kelechi Nwokocha. The startup enables users to shop for the best home loan to

Organizations of women in tech empowering African women to pursue careers and businesses in tech

Organizations of women in tech empowering African women to pursue careers and businesses in tech

According to Georgina Varley, Gender diversity in the tech industry is smart economics. Despite receiving 50% less venture capital funding, global technology firms led by female entrepreneurs typically achieve a 35% higher return on investment than those run by men in 2019. The number of pioneering women in business is

Ghanaian Virtual Reality tours startup DOBIISON Announces Expansion Across Africa

Ghanaian Virtual Reality tours startup DOBIISON Announces Expansion Across Africa

Ghana’s virtual tours and immersive digital experiences for the real estate, construction, and tourism industries startup DOBIISON, has announced its plans to scale its service across Africa. DOBIISON was founded in 2018 by Selasie Awity and has since built the largest collection of Ghanaian virtual reality (VR) content. The

Dubawa Inducts 26 Fact-Checkers for 2021 Fellowship

Dubawa Inducts 26 Fact-Checkers for 2021 Fellowship

West Africa’s verification and fact-checking platform, Dubawa, has announced the conclusion of plans to induct 26 fellows into its 2021 cohort of fact-checkers to combat misinformation in the sub-region. The stage, under the guidance of the Premium Times Centre for Investigative Journalism (PTCIJ), reported the initiation of the yearly

South African Fintech startup Ukheshe Expands to Asia-Pacific

South African Fintech startup Ukheshe Expands to Asia-Pacific

South African Fintech startup Ukheshe Technologies has announced its expansion into the Asia-Pacific region stemming from its introduction of an innovative digital-first payment solution. Ukheshe has fostered an innovation platform that provides banks and telecoms SMMEs with moderate advanced banking and installment administrations, with customer obtaining, onboarding, and dissemination costs

South Africa’s Safcoin to be listed for Exchange Offering

South Africa’s Safcoin to be listed for Exchange Offering

South African cryptocurrency startup Safcoin has announced it will undergo an Initial Exchange Offering (IEO) this month, followed by an international listing in June. The listing is coming less than three years after the currency was founded by the South African entrepreneurial trio of Michela, Tony, and Neil in Hartenbos.

Twitter launches its verification program, things you should note

Twitter launches its verification program, things you should note

Microblogging platform, Twitter has officially launched its verification program for all users. Meaning, users can apply and get the blue checkmark displayed on their profile. The blue badge is meant to distinguish the authenticity of accounts that are of high public interest. This new announcement is coming after the process

Microsoft Announces Plans to retire its Internet Explorer

Microsoft Announces Plans to retire its Internet Explorer

Microsoft has announced that its Microsoft’s Internet Explorer will finally be retired next year after more than 26 years of service. The web browser that was released alongside Windows 95 will no longer appear on consumer versions of Windows 10 after June 2022. Microsoft had had to issue an

Startup Circles secures $150k investment from Enygma Ventures

Startup Circles secures $150k investment from Enygma Ventures

Today, Startup Circles, an innovative practical business school that helps startup founders scale their business and become investor-ready has secured R2.1-million ($150k) in funding from US Venture Capital fund, Enygma Ventures. This fund will be used to support the work of startup Circles and invest in companies that have

PE fund manager Ascent closes $100m fund for East African SME investments

PE fund manager Ascent closes $100m fund for East African SME investments

African private equity fund has announced the first rolling close of its Ascent Rift Valley Fund II (ARVF II) at more than $100 million, investing in small and medium-sized enterprises in East Africa. Investors in ARVF II include leading Africa investors such as Belgian Investment Company for Developing Countries, the

Polaris Bank Nigeria launches VULTe; a new Digital Bank

Polaris Bank Nigeria launches VULTe; a new Digital Bank

On Tuesday, Polaris bank, a leading financial institution in Nigeria launched its own digital bank – VULTe. At the well-attended unveiling ceremony which took place at the Eko Hotel, Lagos, and virtually for a national and global audience. Chairman of the Bank, M.K Ahmad (OON) disclosed that the corporate goal

African Startups can apply for UNFPA’s Climate HackLab Project

African Startups can apply for UNFPA’s Climate HackLab Project

UNFPA East and Southern Africa, in partnership with Safeguard Young People Programme, has announced the ‘Climate HackLab’ project, which aims to empower young people to be game-changers and drivers of a sustainable green future. The program aims to drive young minds aged between 14 and 35 with smart innovations that

Kenya’s Alatpres launches Mobile Safety Application

Kenya’s Alatpres launches Mobile Safety Application

Kenya’s public safety and data analytics startup Alatpres Technologies has announced it has launched a mobile solution to provide reliable emergency notification and management solutions for individuals and businesses. Alatpres was launched in 2020 to help develop technologies that are designed to enhance public safety in ways that enable

IFC partners with MTN SA to expand MoMo network

IFC partners with MTN SA to expand MoMo network

MTN South Africa, a leading provider of telecommunications and mobile money services has announced a $2 million partnership with the International Finance Corporation (IFC) to expand its Mobile Money (MoMo) operations in South Africa. According to the terms of the partnership, IFC and MTN will recruit 10,000 MoMo agents

African Startups can apply for the Ugandan Green Enterprises Accelerator Program

African Startups can apply for the Ugandan Green Enterprises Accelerator Program

* Uganda Green Enterprise Finance Accelerator has announced that African startups can apply for its UGEFA Program. The accelerator program is a four-year European Union (EU)-funded project supporting green enterprises with access to tailored loans and direct acceleration support. The program will focus on assisting startups looking to raise between

Flutterwave Announce Partnership with Basketball Africa League

Flutterwave Announce Partnership with Basketball Africa League

The importance of the Premier League to the UK economy has been confirmed by a study that reveals the League contributed more than £3.3billion in tax and, with its clubs, supported almost 100,000 jobs in the 2016/17 season alone. EY’s Economic and Social Impact Assessment also