It has already been established that several African startups struggle to survive, and most of them eventually fail. The failure rate of African startups was 54.20% between 2010 and 2018, according to a recent report from Wee Tracker and GreenTec Capital Africa Foundation on “The Better Africa Report.” Ethiopia

One of Libya’s leading startups, Presto Eat, has announced its plans to expand its coverage location within the nation. The expansion will serve as an avenue for the startup to better serve restaurants and individuals in Benghazi, Libya. This announcement was made as the startup’s Chief Financial Officer,

Singapore VC firm Scalo Technologies plans to invest a total of $100 million in growing startups in the MENA region for three to five to five years, according to a press release by the company With this aim, Scalo Technologies has moved its headquarters to Dubai, UAE to identify startups

Israel-based AI optimization startup, Redefine.dev has secured an amount of $8.5 seed round to accelerate the growth of the platform as well as recruit more personnel on board. The round was spearheaded by Gillot Capital and industry leaders including, founders of Espagon, Nitzan Shapira and Ran Ribenzaft, (Head

In order to provide access to financial services for individuals in Zimbabwe, Mukuru, a leading Southern African fintech company, has introduced a first-of-its-kind drive-thru facility in Chisipite, Harare. It is based at one of 10 locations for local and global money transfers that have been established throughout the area. With

A $31 million investment in Peach Payments, a quickly expanding supplier of digital payment services with operations in South Africa, Kenya, and Mauritius, has been proposed by UK-based asset manager Apis Partners LLP’s private equity fund, Apis Growth Fund II. Peach Payments will use the investment to broaden its

UAE-based recruitment startup, RemotePass has rolled out a new physical debit card that would facilitate payments for remote workers. The new service will enable remote workers who are active on RemotePass to receive instant payments at no cost while eliminating delays involved with international transfers. Co-founder and CEO of RemotePass,

The term “agritech” refers to technological advancements and innovations used in agricultural processes to boost output while requiring fewer inputs and improve agricultural practices. Agritech’s tangible applications include faster agricultural equipment, better crops, and digital supply chain monitoring. Africa’s changing environment and expanding population may benefit from these

An Israeli-based startup, Entrio, has secured funding of $7.5 million to grow its IT asset management platform. The funding round was led by Communitas Capital Partners. Other investors that supported the funding round are BNY Mellon, Vintage Investment Partners, and Alicorn Venture Partners. This new investment will support Entrio

A $14 million (R250 million) financing facility has been secured by Paymenow, a market-leading Earned Wage Access (EWA) platform, through Rand Merchant Bank (RMB), creating a structure unique to the EWA industry in South Africa. The startup made this known through its LinkedIn handle. Through its ownership of shares in

To grow its presence in South Africa and beyond, TROOP, a creator of corporate meeting technology and services, announced it had raised $11 million (about R201 million) in Series B funding. By 2023, TROOP wants to triple the number of employees it has, and by 2025, it wants to have

German energy company, Juwi Renewable Energies announced today that the 84 MW Wolf Wind Farm in the Eastern Cape had reached financial close. Juwi claims that work has begun on the facility and that it will start producing electricity for the South African grid by the first quarter of 2024.

Egyptian VC firm Acasia Ventures has participated in the $1 million Seed round secured by the Lagos-based last-mile delivery platform Fez Delivery. The investment round was led by Nigeria’s discovery fund Ventures Platform, however, the amount Acasia invested was undisclosed. Acasia Ventures General Partner, Biola Alabi said, “Fez has

Startups are leading the way in Africa’s industry 4.0. The region is experiencing  a transition buoyed by the many new startups building on artificial intelligence (AI) decision-optimization software. African startups have been able to take advantage of artificial intelligence (AI) and machine learning, which can recognize which business

Ramp, an international start-up in decision science with its headquarters in the UK, has secured a $5 million seed investment round. The business was established in 2018 to give the large majority of companies who still rely on spreadsheets for financial modeling an alternative. AlbionVC led the seed fundraising round,

In order to democratize access to the African venture capital arena, the Africa Chamber of Digital Commerce (ACOFDC) and Dream VC have announced their strategic ecosystem partnership. The goal of the new partnership between the ACOFDC and Dream VC is to engage, educate, and upskill the African diaspora as a

Botswana’s Aeronautical Solutions has created the nation’s first unmanned aerial vehicle (UAV) for use in anti-poaching drills as well as for security and surveillance needs. The drone project, funded by the Botswana Innovation Fund (BIF), is a partnership between Aeronautical Solution and the partners and network of the