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No More Stellar Performance from Fintech. What’s Taking Over?

No More Stellar Performance from Fintech. What’s Taking Over?

Technology has advanced significantly over the last several decades, notably with the rise of the internet and mobile devices. This has increased in the establishment of Fintech and other tech firms. These tech firms through their innovations produce novel goods and services. Globally, tech startups and the venture capital ecosystem
May 10, 2023 3 min read
Egypt's Helpoo Receives Undisclosed Funding from Saudi Mobility Platform, Morni

Egypt's Helpoo Receives Undisclosed Funding from Saudi Mobility Platform, Morni

Egyptian mobility startup Helpoo has received undisclosed funding from its counterpart Saudi Arabian mobility solutions company, Morni. The deal was processed by a leading investment provider as well as a mergers and acquisition (M&A) advisory firm, ExitsMENA. Helpoo will leverage on the investment to strengthen its market footprint,
May 10, 2023 2 min read
Payment24 Announces Expansion Into New Geographies in North America and Europe

Payment24 Announces Expansion Into New Geographies in North America and Europe

Payment24, a technology firm with its headquarters in South Africa, has expanded into the North American and European markets as it continues to pursue its growth objectives. Payment24, a worldwide platform provider based in Cape Town that specializes in payment and loyalty solutions, today announced its entrance into the two
May 10, 2023 2 min read
Medical Translation App Wins the 4th Season of the Game of Learners
ADC

Medical Translation App Wins the 4th Season of the Game of Learners

A team of four university students has won the fourth edition of the Game of Learners (GOL) competition by developing an innovative medical language translation app. The solution, named ‘Jambo Care,’ can translate the local dialect into English or Kiswahili, enabling doctors to diagnose patients’ symptoms remotely more efficiently. Also,
May 9, 2023 2 min read
Tati Software Launches WhatsApp-based ChatGPT, MobileGPT

Tati Software Launches WhatsApp-based ChatGPT, MobileGPT

A smartphone-based version of ChatGPT called MobileGPT, has been developed by local software development company Tati Software. The software uses OpenAI’s technology to give WhatsApp users access to the chatbot’s artificial intelligence (AI) tools. According to Tati Software, the AI-powered chatbot gives WhatsApp users access to key features
May 9, 2023 3 min read
South African Fintech Startups can Apply for the VISA Everywhere Initiative

South African Fintech Startups can Apply for the VISA Everywhere Initiative

Local fintech startups are invited to take part in this year’s Sub-Saharan Africa edition of the Visa Everywhere Initiative (VEI) by the payments company Visa. Start-ups are required to improve their own product offerings while also finding solutions to payments and commerce problems as part of the global innovation
May 9, 2023 2 min read
The Realities of Female-Led Tech Startups In MENA

The Realities of Female-Led Tech Startups In MENA

As the days go by, more startups spring up but males make up the majority of founders. Historically, the Middle East and North Africa (MENA) region is a unique society, dominated by men in almost all sectors of life including business. A decade review between 2010 to 2020 from UNICEF
May 9, 2023 3 min read
Fingo Partners Ecobank to Launch Kenya’s First Neobank
EcoBank

Fingo Partners Ecobank to Launch Kenya’s First Neobank

Fingo, a Kenyan fintech startup, has partnered with Ecobank to launch the first neobank in Kenya. The digital bank focuses on empowering young Africans with uniquely designed financial products to create a wealthier Africa. Also, it is built to provide free peer-to-peer transactions and immediate access to several services like
May 9, 2023 2 min read
Africa in the Digital Age: Data Protection and Privacy in Focus
Cybersecurity

Africa in the Digital Age: Data Protection and Privacy in Focus

Africa, like the rest of the world, is undergoing a digital revolution. With increasing digitalisation, internet penetration, e-commerce adoption, and growth in the use of digital platforms, data protection, and privacy are more important than ever. As Africa moves toward a cashless economy, financial inclusion, and an overall digital economy,
May 8, 2023 4 min read
The Ouut's Highlight Of The Week

The Ouut's Highlight Of The Week

From Snoonu securing Series B funding in MENA to WI-Flix launching in Zambia and many more, here are the stories reported and analyzed by The Ouut this week. Dive into our Highlights of News Features and Interviews this week. East Africa • News/Analysis AN NISA, KENYA’S WOMEN-ONLY TAXI SERVICE
May 6, 2023 2 min read
UAE E-commerce Startup SQUATWOLF Receives $30M Investment From ASCA Capital 

UAE E-commerce Startup SQUATWOLF Receives $30M Investment From ASCA Capital 

UAE-based e-commerce startup SQUATWOLF, has received $30 million in investment from ASCA Capital Limited. The terms of the investment will see ASCA invest up to $30 million over time with a significant proportion being invested in the first 12 months to support its expansion plans. The fresh investment will help
May 5, 2023 2 min read
Blockchain for National Development: Nigeria’s National Blockchain Policy in Focus
blockchain technology

Blockchain for National Development: Nigeria’s National Blockchain Policy in Focus

Blockchain technology is not entirely new in Nigeria, having been used by the Central Bank of Nigeria and others over the years. However, the Federal Government of Nigeria’s recent approval of a national blockchain policy (NBP) is a significant step toward leveraging the transformative potential of blockchain technology to
May 5, 2023 4 min read
Old Mutual launches a Fintech business, Old Mutual Digital Services (ODMS)

Old Mutual launches a Fintech business, Old Mutual Digital Services (ODMS)

Zimbabwe is on the path of iterating its financial system as Old Mutual launches a Fintech business, Old Mutual Digital Services (OMDS). As one of the financial giants in Africa, Old Mutual decided to claim more territories to expand its scope of operation. Old Mutual Digital Services promises to provide
May 5, 2023 3 min read
Qatar Super App Snoonu Secures $12 Million in Series B Round 

Qatar Super App Snoonu Secures $12 Million in Series B Round 

Qatar-based super app Snoonu, has secured $12 million in a Series B round which is the first startup to raise such a round in the country. The round was spearheaded by the Qatar Development Bank and saw participation from undisclosed investors. Founded in 2019, Snoonu is Qatar’s first super
May 5, 2023 1 min read
UAE Fintech, Tarabut Gateway Raises $32 Million For  Saudi Arabia Expansion

UAE Fintech, Tarabut Gateway Raises $32 Million For  Saudi Arabia Expansion

UAE open banking platform, Tarabut Gateway has raised $32 Million in Series A funding to expand and recruit talents in Saudi Arabia. The funding round was led by Saudi-focused investment firm Pinnacle Capital while Aljazira Capital, Visa, Tiger Global and other existing investors participated in the round. Tarabut will use
May 4, 2023 1 min read
Why We Are Likely to See Less South African Startup Acquisition

Why We Are Likely to See Less South African Startup Acquisition

The acquisition of start-ups can provide the new business with a technological boost that gives it a competitive edge. The fact that this deal benefits both the company and the acquirer is a win-win. Acquirees have access to a larger pool of markets, resources, cash, and a very handsome payout
May 4, 2023 4 min read
Fashion in Tech: Five Online Marketplaces in MENA

Fashion in Tech: Five Online Marketplaces in MENA

French fashion designer Gabrielle “Coco” Chanel once said, “Fashion is not something that exists in dresses only. Fashion is in the sky, in the street, fashion has to do with ideas, the way we live, what is happening.” The fashion industry is a rapidly growing sector across the globe and
May 4, 2023 3 min read
Nigerian Gov’t Approves National Blockchain Policy
FEC

Nigerian Gov’t Approves National Blockchain Policy

The Federal Government of Nigeria, on Wednesday, approved the National Blockchain Policy. Minister of Communications and Digital Economy, Isa Pantami, made the disclosure while briefing newsmen after the weekly Federal Executive Council (FEC) meeting presided over by President Muhammadu Buhari at the state house in Abuja. The minister in his
May 4, 2023 2 min read
Again, African Tech Startups Funding in April Dipped by More Than Half 
African startups Funding in April

Again, African Tech Startups Funding in April Dipped by More Than Half 

The African startup scene appears to have hit a roadblock. As funding numbers in April continue in a not-so-impressive trajectory witnessed in the Q1 of 2023. Although this might be due to the global economic meltdown, tech layoffs, the collapse of SVB, and the current socio-political tension across the continent.
May 4, 2023 2 min read
Treepz Relaunches App as Africa’s Foremost Car-Sharing Marketplace
Car-Sharing Marketplace

Treepz Relaunches App as Africa’s Foremost Car-Sharing Marketplace

Treepz, the leading African mobility company, has launched a new innovation in Africa that reimagines car ownership and mobility on the continent. The company has re-launched its consumer-facing app as the first car-sharing marketplace in Nigeria, Ghana, Kenya, and Uganda, serving more than 26 million vehicle owners in Africa today.
May 4, 2023 3 min read
Wi-flix Brings Entertainment To Zambia

Wi-flix Brings Entertainment To Zambia

Entertainment in Zambia just got a facelift as Wi-flix in collaboration with MTN launched its streaming service in the country. This initiative promises to provide over 30,000 hours of entertainment to its Zambian audience. Wi-flix is a global streaming service, with its headquarters in the Netherlands. So far, it
May 4, 2023 2 min read
African Start-ups Take the Lead in the Milken-Motsepe Agritech Competition

African Start-ups Take the Lead in the Milken-Motsepe Agritech Competition

African start-ups take the spotlight as they emerged as the winners in this year’s Milken-Motsepe agritech competition. This is the flagship of the agritech competition held by The Patrice Motsepe Foundation and the US-based Milken Institute. The alliance between these two organizations is geared towards the use of advanced
May 4, 2023 3 min read
Food Crisis and Biotech to the Rescue
Agritech

Food Crisis and Biotech to the Rescue

Food insecurity and chronic hunger are major recurring problems that exist in developing countries. Several approaches, including biotechnology, have been explored to cope with emerging issues of climate change and natural disasters that handicap poorly funded farmers. The countries in Southern Africa, including Zimbabwe, Zambia, Mozambique, and Malawi, are the
May 4, 2023 3 min read
Israeli B2B Startup Aligned Raises $5.8 Million to Develop its AI Platform 

Israeli B2B Startup Aligned Raises $5.8 Million to Develop its AI Platform 

Israel-based B2B buyer-seller network, Aligned has raised $5.8 million in Seed funding to develop its AI customer engagement automated platform. Hetz Ventures and NFX led the funding round but saw participation from angel investors. The startup plans to use the funds to expand its team. There are also plans
May 3, 2023 1 min read
Vodacom rolls out 5G services in Mozambique

Vodacom rolls out 5G services in Mozambique

The internet service is better when it is faster. With the roll-out of the 5G network across the globe, most African countries have taken the initiative to improve their digital services. Mozambique has now become part of these countries through Vodacom’s 5G launch. The multinational company, Vodacom, has upgraded
May 3, 2023 2 min read
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