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MultiChoice Shortlists 11 African Startups to Pitch for International Funding

Creating Change

MultiChoice Shortlists 11 African Startups to Pitch for International Funding

The MultiChoice Africa Accelerator Program has shortlisted 11 promising African startups to pitch for international funding in its quest to boost the growth of startups across the continent. The program, which is a brainchild of the MultiChoice Group, in partnership with Dubai-based business incubator Companies, Creating Change (C3), technical partner,

Cellulant Appoints Ibrahim Gbolahan as GM to Lead its Growth in Nigeria

Cellulant Appoints Ibrahim Gbolahan as GM to Lead its Growth in Nigeria

Cellulant, a leading Pan-African fintech startup, has appointed Ibrahim Gbolahan Aminu as General Manager for Cellulant in Nigeria to manage and oversee day-to-day operations as the company expands coverage for Tingg, Cellulant’s Digital Payments platform, across Nigeria. Announcing the appointment, Sike Bamisebi, Cellulant’s Group Chief Business Officer said,

Copal Partners Mastercard to Launch Family Finance Management App

Copal Partners Mastercard to Launch Family Finance Management App

Copal, a fintech startup based in Cairo, has partnered with Mastercard, a leading provider of payment processing solutions, to introduce Egypt’s first family payment and spending management platform. With the integration of unbanked youth in the formal economy and the provision of a cashless experience for all family members,

Envisionit Deep AI Raises $1.65 Million AI Healthtech Solution Across Africa

Envisionit Deep AI Raises $1.65 Million AI Healthtech Solution Across Africa

Envisionit Deep AI, a healthtech startup based in Johannesburg and formed by pediatric radiologist Jaishree Naidoo, Terence Naidu, and Russian-born Andrei Migatchev, has raised $1.65 million in funding. Investors like New GX Ventures SA, a partnership of New GX Capital, RMB Ventures, and GIIG Africa, were welcomed by Envisionit

A Quick Checkup on African Startups, as Tech Layoffs in 2023 Hits 50% of 2022 Total

A Quick Checkup on African Startups, as Tech Layoffs in 2023 Hits 50% of 2022 Total

2022 was nothing close to a glorious 2021 for the global tech startup ecosystem, funding for the year dipped by 35% YoY from the 2021 record, contracting by 19% quarter over quarter (QoQ) in Q4’22 to reach $65.9 billion, nearing pre-Covid funding levels. This brought total venture funding

Kholo Capital Mezzanine Debt Fund I achieve first close at $47M to Expand Digital Process in South Africa

Kholo Capital Mezzanine Debt Fund I achieve first close at $47M to Expand Digital Process in South Africa

Kholo Capital Mezzanine Debt Fund 1 has obtained financing totaling $47.62 million (R870 million) for long-term mezzanine finance investment to assist expansion, job creation, and the advancement of transformation within mid-market businesses with operations in Southern Africa. Leading institutional investors, such as the National Fund for Municipal Workers, RisCura,

Roam, Earthshot Finalist Partners with Hitachi to Provide Transport Electrification across Africa

Roam, Earthshot Finalist Partners with Hitachi to Provide Transport Electrification across Africa

‍Roam, a finalist for the Earthshot Prize and a leading designer and developer of electric vehicles has formed a strategic partnership with Hitachi Europe Ltd. (Hitachi), a technology leader that enables sustainable mobility in cities, to make electric transportation available in Africa. The partnership will focus on electrification in Kenya,

Why Embedded Finance is Financial and Commercial Growth Catalyst

Financial Inclusion

Why Embedded Finance is Financial and Commercial Growth Catalyst

Companies, both inside and outside the tech sector, are constantly looking to improve their offerings. Developing safe payment mechanisms is one of the most important changes companies can make, in our opinion. It is no longer a secret that many MSMEs (Micro, Small, and Medium-sized Enterprises) in Africa still cannot

Workpay, Kenya’s HR Start Raises $2.7M to Expand into More 40 African Markets

Workpay, Kenya’s HR Start Raises $2.7M to Expand into More 40 African Markets

Workpay, a Kenya-based HR startup, has successfully raised $2.7 million in a pre-Series A funding round participated in by Launch Africa, Saviu Ventures, Acadian Ventures, Proparco, Fondation Botnar, Kara Ventures, Axian, P1 Ventures, and Norrsken. to expand its services across 40 African countries. This latest funding round comes after

Driving D2C in South Africa in 2023

Driving D2C in South Africa in 2023

Unlike B2C It is thought that brands’ necessity to survive gave rise to the new face of D2C e-commerce. But, the business model that permits companies to sell to customers directly has sped up growth in startups and e-commerce. It is the most popular among startups and is no longer

Planet42 to Pursue 1Million Automobile Offering After Mega Round

Planet42 to Pursue 1Million Automobile Offering After Mega Round

In order to solve transportation inequity, Planet42, an Estonian automobile subscription startup operating in South Africa, has raised $100 million in total in equity and debt financing. Together with participation from current and new investors, including Rivonia Road Capital, who also offered a $75 million credit facility, the $15 million

What Makes a City Smart – Is Nairobi a Smart City?

Konza Techno City

What Makes a City Smart – Is Nairobi a Smart City?

As the world’s population continues to migrate towards urban centers, the concept of a “smart city” has gained traction as a means of using technology and data to improve the quality of life for urban residents, increase sustainability, and promote economic growth. While there is no single definition of

What to Expect as Bolt Plans to Invest $530M in Africa in the Next 2 Yrs

What to Expect as Bolt Plans to Invest $530M in Africa in the Next 2 Yrs

Bolt, a leading tech mobility company that offers ride-hailing services across 7 African countries since its launch in South Africa in 2016, has recently announced plans to invest $530 million in Africa over the next 2 years. This will be used to expand their services and create employment opportunities for

How Uganda’s Qiribu is Extending Earned Wages Access Product to East Africans

How Uganda’s Qiribu is Extending Earned Wages Access Product to East Africans

Qiribu, a Ugandan fintech startup, has been making waves in the financial sector of East Africa by providing a unique earned wage access product that allows salaried employees to access a portion of their earned wages before payday. The startup has plans to expand into Kenya and Rwanda in the

AfricaGoGreen Fund to Expand Clean Energy and Climate-friendly Projects in Africa after Funding

AfricaGoGreen Fund to Expand Clean Energy and Climate-friendly Projects in Africa after Funding

In its second fundraising effort, the AfricaGoGreen Fund raised $47 million to support climate-friendly projects on the continent. The finance was provided jointly by prestigious financial institutions such as the International Finance Corporation (IFC), the African Development Bank (AfDB), the Nordic Development Fund (NDF), and the Sustainable Energy Fund for

Student.com Expands Stake in South African Startup, DigsConnect

Student.com Expands Stake in South African Startup, DigsConnect

The biggest online marketplace for student housing, Student.com, has announced an expansion in its shareholding in the South African digital housing startup, DigsConnect.com. The announcement follows an undisclosed investment from Student.com to DigsConnect last year. The founder and CEO of Students.com, Luke Nolan, believes that Africa

Accelerators for the South

Accelerators for the South

It’s similar to sprinting when using an accelerator. It is a quick, all-encompassing, and demanding learning process designed to hasten the growth of innovative, emerging businesses by compressing years’ worth of learning-by-doing into a few short months. In a controlled environment, accelerators allow entrepreneurs to test their business concepts,

Jumba Raises $4.5M Seed Round to Close Housing Gap in Kenya

construction technology startup

Jumba Raises $4.5M Seed Round to Close Housing Gap in Kenya

Jumba’s $4.5 million seed funding round represents a significant milestone for the Kenyan-based construction technology startup. The funding will enable Jumba to scale its operations in Kenya to meet the growing demand for construction materials and tackle the country’s housing deficit estimated to be at 80%. With

What Makes a City Smart - Can Lagos Be Called a Smart City?

What Makes a City Smart - Can Lagos Be Called a Smart City?

Since the dawn of human civilization, cities have been the epicenters of economic, social, and cultural activity. The emergence of advanced technologies from the fourth industrial revolution has made its presence felt across all sectors in recent years. The term “smart city” has become a buzzword in urban planning and

Guardrisk to Invest R50m to Grow Insurtech in South Africa

Guardrisk to Invest R50m to Grow Insurtech in South Africa

Guardrisk, an affiliate of Momentum Metropolitan and an insurance provider, is looking to invest $2.7m (R50 million) in insurtech companies over the next 12 months via its Launchpad initiative. The Launchpad was introduced by Guardrisk yesterday in Sandton. The company said it was looking for venture capitalists and entrepreneurs

Reviewing the Kenyan E-Commerce Sector

Reviewing the Kenyan E-Commerce Sector

The e-commerce Sector is growing rapidly in Kenya, with user penetration exceeding the regional average and revenues expected to grow at a 16.4% annual rate by 2025. E-commerce generated the most digital revenue in Kenya in 2020, with $1.1 billion and a 76.1 percent share. Within the

Nigerian Startups Welcome First Acquisition in 2023 as Dubai-Based Blockfinex "Acquihires" Fluidcoins

Nigerian Startups Welcome First Acquisition in 2023 as Dubai-Based Blockfinex "Acquihires" Fluidcoins

Fluidcoins, a Nigerian crypto payment gateway startup, has been acquired for an undisclosed sum by Blockfinex, a Dubai-based, Barbados- and Seychelles-registered crypto exchange company. Meanwhile, the Fluidcoins founding team will continue to work on the product, making this an “acquihire.” According to TechCabal, and confirmed by Danny Oyekan, the founder

Smile Identity Raises $20M Series B to Scale and Expand into More Regions in Africa

identity verification

Smile Identity Raises $20M Series B to Scale and Expand into More Regions in Africa

Smile Identity, a startup that provides identity verification and KYC compliance for African faces and identities, has raised $20 million in a Series B funding round for further expansion and other roadmap activities. The startup received funding from Silicon Valley investor, Costanoa Ventures, Africa-focused venture capital firm, Norrsken22 with Lexi

The Next Big Thing? Let’s Discuss CleanTech in South Africa

Electric Vehicle

The Next Big Thing? Let’s Discuss CleanTech in South Africa

Clean technology (Cleantech) is a catch-all phrase that refers to a variety of procedures, goods, and services with the objective of minimizing waste by utilizing non-renewable resources. The use of solar energy, water purification techniques, and fuel cells are frequently highlighted in efforts to find new ways to grow food

Terraa Raises $1.5M Preseed Round to Strengthen Food Supply in Morroco

Terraa Raises $1.5M Preseed Round to Strengthen Food Supply in Morroco

FoodLabs, a European early-stage VC investor and venture studio for food, sustainability, and health, led the $1.5M Preseed fundraising round for Terraa, a food delivery platform with headquarters in Morocco. Other investors in the round included the African-focused DFS Lab, Outlierz Ventures, UM6P Ventures, and Musha Ventures. Terraa plans