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The Ouut's Hightlight Of The Week

The Ouut's Hightlight Of The Week

This week is packed with diverse events in the African ecosystem. From SA SME raising $ 30 million to Paymob obtaining certification for its operation in Saudi Arabia. Read these and more in our Highlights of the Week. A compilation of all the News analysis and Feature you missed out on

Unleashing AI Potential for Nigeria's Economic, Technological Development

Artificial Intelligence

Unleashing AI Potential for Nigeria's Economic, Technological Development

Artificial Intelligence (AI) has become a transformative force across the globe, and Nigeria stands out as one of the biggest adopters of AI technology in Africa. A 2022 report by AI Media listed Nigeria, Egypt, South Africa, and Kenya as the biggest adopters of Artificial Intelligence technology in Africa. Interestingly,

How Yemen Can Leverage Technology To Overcome Water Crisis

How Yemen Can Leverage Technology To Overcome Water Crisis

Yemen, like many other countries, has been facing a severe water crisis for many years, with limited access to clean water and issues of water scarcity. The Yemeni water crisis is a complex and multifaceted issue that requires sustained efforts from both national and international stakeholders. The country is disadvantaged

MENA's ZainTech Acquires UAE-based Adfolks to Offer Cloud Services to Clients

MENA's ZainTech Acquires UAE-based Adfolks to Offer Cloud Services to Clients

Digital solutions powerhouse of Zain Group, ZainTech has acquired Adfolks, a UAE-based cloud engineering firm that offers a range of cloud transformation services. The acquisition falls in line with ZainTech’s strategic plan to expand its technology offering while providing holistic solutions to its growing customer base. The deal marks

Nigerian Fintech Startups Dominates AWS Inaugural Cohort Programme

Nigerian Fintech Startups Dominates AWS Inaugural Cohort Programme

Nigeria’s fintech startup ecosystem has achieved a remarkable milestone with the inclusion of eleven Nigerian fintech startups in the finals of the AWS Fintech Africa Accelerator cohort. Out of a total of twenty-five fintech startups selected by Amazon Web Services (AWS), these Nigerian startups have secured a coveted spot

How To Leverage On Tech Talent Pool To Enhance Palestine Startup Ecosystem

How To Leverage On Tech Talent Pool To Enhance Palestine Startup Ecosystem

The MENA region constitutes some interesting ecosystems. While some countries compete to attain and remain A-list ecosystems, some are still in struggles of trying to build, develop, or scale theirs. This shows various diversity and the growth of the region in general. It can’t be denied that some ecosystem

E3LCEF Gets $48.1M to Back Tech-Enabled Low-Carbon Entrepreneurs in Africa

E3LCEF Gets $48.1M to Back Tech-Enabled Low-Carbon Entrepreneurs in Africa

In a pivotal move toward a sustainable future, the E3 Low Carbon Economy Fund for Africa (E3LCEF) has secured an impressive first close at $48.1 million. Also, with E3LCEF’s clear mission to invest in Africa’s next-generation low-carbon entrepreneurs, this fund will play a vital role in scaling

Africa Tech Summit London Announces 12 African Tech Ventures for Investment Showcase

Africa Tech Summit

Africa Tech Summit London Announces 12 African Tech Ventures for Investment Showcase

Africa Tech Summit London (ATSLDN) is set to host an exciting event at the London Stock Exchange on June 23rd, where 12 African tech ventures will present their investment opportunities to a diverse audience of investors, corporates, and industry experts. This marks the 15th live summit organised by the Africa

Turkey Foodtech Startup Bundle Kitchen Secures $1.25 Million in Seed Round for Expansion

Turkey Foodtech Startup Bundle Kitchen Secures $1.25 Million in Seed Round for Expansion

Turkey-based Foodtech Startup Bundle Kitchen has secured a $1.25 million seed round from Nuwa Capital, alongside participation from Turkish VC fund Kybele Investment. Bundle Kitchen will leverage this to develop the tech architecture and expand across the region. Founded in 2020, Bundle Kitchen is a leading multi-brand virtual food

Why African Startups Must See Funding as a Means Rather than an End

Why African Startups Must See Funding as a Means Rather than an End

Securing funding is a significant achievement worthy of recognition, but it should be viewed as the starting point rather than the end goal. The actions taken after obtaining investments are more crucial than the funds raised. The growth of internet access has led to a thriving startup ecosystem in Africa.

SA Fintech, TymeBank Raises $77.8M from Norrsken22 and Blue Earth Capital

SA Fintech, TymeBank Raises $77.8M from Norrsken22 and Blue Earth Capital

TymeBank, a digital banking platform based in South Africa, has successfully raised $77.8 million in a pre-Series C funding round. Norrsken22 and Blue Earth Capital took the lead in the funding round, with a focus on African markets and impact investments. Tencent was also part of the investors and

V2Techs Plans to Disrupt Power Generation using Remora Motor

V2Techs Plans to Disrupt Power Generation using Remora Motor

Electricity production and distribution have taken a new turn as V2Techs changes the narrative. The cleantech start-up is revolutionizing power generation with its innovative electromagnetic combo motor. This motor was named “Remora” after the fish that attaches itself to larger marine animals. Remora has the potential to be a game-changer

Unyte Africa Partners AXA Mansard to Provide Innovative Insurance Services to Africans

Unyte Africa Partners AXA Mansard to Provide Innovative Insurance Services to Africans

The insurance industry is still at various developing stages in many countries across Africa. According to data from Statista, the industry represents less than three per cent of insured catastrophe losses worldwide. Regardless, it is home to almost 18 per cent of the global population. Despite the low levels of

PayTabs Partners Egypt's FlapKap to Support E-commerce Growth in UAE

PayTabs Partners Egypt's FlapKap to Support E-commerce Growth in UAE

Payment solutions provider PayTabs has entered into a partnership with revenue-based financing platform FlapKap to support the growth of UAE e-commerce. The partnership will enable UAE-based small and medium-sized e-commerce firms (SMEs), webpreneurs, and PayTabs entrepreneurs to swiftly and seamlessly get finance offers. Through the collaboration, more SME companies will

ARM Labs Invite Applications for its Innovation Programme 5.0

accelerator programme

ARM Labs Invite Applications for its Innovation Programme 5.0

ARM Labs has announced the commencement of applications for the fifth edition of its Innovation Programme. As a prominent investment firm in Nigeria, ARM is dedicated to bolstering the growth and advancement of the country’s startup ecosystem. Also, the ARM Labs Innovation Programme is an intensive support initiative that

Israeli Cybersecurity Startup Entro Secures $ 6 Million in Seed Funding

Israeli Cybersecurity Startup Entro Secures $ 6 Million in Seed Funding

Israeli cybersecurity startup Entro has secured $6 million in Seed funding led by StageOne Ventures and Hyperwise Ventures and some Angel investors. The Angel investors include the founder of Trusteer and Transmit Security, Rakesh Loonkar, Mickey Boodaei, founder of Imperva, and Amichai Shulman, founder of Imperva and AirEye Founded in

Deal Source Africa Platform to bridge the $331 billion funding gap in Africa

Deal Source Africa Platform to bridge the $331 billion funding gap in Africa

The Deal Source Africa program was officially introduced during the West Africa Deal Summit in Accra. Its primary aim is to establish connections between African businesses and investors, deal advisors, as well as African Impact Funds and investors. The program aims to address the funding gap of $331 billion that

SA SME Fund raises Over $30m above it's Target for VC Fund of Funds

SA SME Fund raises Over $30m above it's Target for VC Fund of Funds

The SA SME Fund, which brings together government and business to stimulate economic growth has secured over $30m (R600 million) Venture Capital Fund. The standalone investment vehicle is pleased to announce that this amount exceeds the fund’s initial target of R500 million. The VC FoF’s appeal to institutional

Leveraging African Fintech Growth for Financial Inclusion

Financial Inclusion

Leveraging African Fintech Growth for Financial Inclusion

Africa’s fintech sector has held a commanding lead on all fronts in recent years. Despite taking a significant hit from the global VC downturn in 2022, it remains the most backed sector on the continent, receiving 38 per cent of total investment for the year, according to Briter Bridges.

Egypt’s Fintech, Paymob, Obtains Certification To Operate In Saudi Arabia

Egypt’s Fintech, Paymob, Obtains Certification To Operate In Saudi Arabia

Middle East, North Africa and Pakistan’s (MENAP’s) fast-growing fintech startup, Paymob has obtained Saudi Arabia’s Payment Technical Services Provider (PTSP) certification to fully operate in the Kingdom of Saudi Arabia. This development allows Paymob to provide its seamless, secure payment gateway services to merchants in KSA. In

Digital Birth and Death Registration Via eCRVS: Empowering Nigeria's Tech Sector & Boosting the Economy

digital birth and death register

Digital Birth and Death Registration Via eCRVS: Empowering Nigeria's Tech Sector & Boosting the Economy

Stewart Brand, a renowned American writer, once said, “Once a new technology rolls over you, if you’re not part of the steamroller, you’re part of the road.” True to it, in order to be prominently featured in the current tech revolution, the respective African governments have in recent

Saudi Furniture Marketplace Baytonia Closes First Seed Round

Saudi Furniture Marketplace Baytonia Closes First Seed Round

Saudi-based online furniture marketplace Baytonia has closed its first seed round spearheaded by Khwarizmi Ventures with participation from angel investors. However, the amount of funding was not disclosed. The startup will use the fresh funding to develop its customer experience and service and expand its high-quality product offerings across the

MasterCard Partners FCMB to Roll out Contactless Tap-on-Phone Payment Service in Nigeria

MasterCard Partners FCMB to Roll out Contactless Tap-on-Phone Payment Service in Nigeria

Mastercard has partnered with First City Monument Bank (FCMB) and Netplus to introduce a contactless payment service called Tap-on-Phone in Nigeria. This innovative technology revolutionises how consumers, merchants, and financial institutions process payments by enabling seamless transactions without needing physical contact with a device at the Point-of-Sale (POS). It enables

Why Grey Sites its East African Hub in Kenya

East African hub

Why Grey Sites its East African Hub in Kenya

Grey, a Nigerian fintech startup has sited its East African hub in Kenya in its quest to expand operations in the region. The YC-backed startup has now joined Flutterwave, its fellow compatriot who recently chose Kenya as its East African regional headquarter. This is rather a strategic move by these

A Glimpse Of Jordan's Digitization Efforts So Far

A Glimpse Of Jordan's Digitization Efforts So Far

Jordan is one of the smallest countries in the Middle East yet making significant strides towards becoming a digitized country. Even though there is little report about the nation’s tech ecosystem, the Information Communications and Technology (ICT) sector in Jordan is among the fastest growing sectors in the economy,