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Meta XR Exhibition Features Nigerian, Kenyan And Mauritius Among 6 winners

Meta XR Exhibition Features Nigerian, Kenyan And Mauritius Among 6 winners

Meta has revealed its exclusive XR exhibition which featured Six finalists from the programme it dubbed “Future Africa: Telling Stories, Building Worlds.” The programme was targeted at supporting creators in Africa especially the next generation of XR (Extended Reality) creators. The program which was developed with the partnership of Africa

40 Digital Credit Providers Listed For Alleged Data Breach Offence By Kenyan ODPC

40 Digital Credit Providers Listed For Alleged Data Breach Offence By Kenyan ODPC

The Kenyan Data Protection Commission (ODPC) has listed forty (40) Digital credit Providers (DCPs) in the East African nation over suspected personal data breach offences, among the listed are some of the racking DCPs in the country, including Branch and Tala. The allegation amounts to a serious offence, as a

Leading Payments Company, Flutterwave appoints Emmanuel Efenure as Head of Risk for Africa

San-Francisco-headquartered pan-African leading payment technology, Flutterwave has appointed Emmanuel Efenure as Head of Risk for Africa; a new unit bore from the Flutterwave Compliance Team — to see to “faster development and implementation of Risk initiatives.” The newly hired Efenure has significant years of experience in the banking sector having worked

Eke Urum's Risevest found guilty of sexual allegation, reinstates CEO position

Eke Urum's Risevest found guilty of sexual allegation, reinstates CEO position

In February 2021, former Head of Marketing, Risevest, Efe Uduigwomen published on Medium about the reasons she left her place of work — the investment company founded in 2019 by Eke Urum (Founder, and CEO as of August 2022); Bosun Olarenwaju (Co-founder and CTO) and Tony Odiba (Co-founder, Head of Product

August Fall Versus September Increase: What’s all the Hype on Startup Funding in September?

August Fall Versus September Increase: What’s all the Hype on Startup Funding in September?

Fundraising for the past 5 months has been a roller coaster for African startups. In June 2022, African startups made 36 fully disclosed raises totaling $426,280,000 million. This amount is a 2.4% decrease from May 2022’s $437,100,000. July brought the lowest startup funding of

Nigerian Mobile Payment Company, Paga Announces $14 billion in Transactions

Nigerian Mobile Payment Company, Paga Announces $14 billion in Transactions

Uk-based pan-African fintech company, Paga has announced its landmark N6.1 trillion (equivalent of $14 billion) made in transactions since January 2012, three years after it was founded. According to the Linkedin post seen by The Ouut, the company has significantly measured its growth per ₦2 trillion. “Total Processed Value

Kenyan Agency Banking,Tanda, Raises Pre-series A Funding

Kenyan Agency Banking,Tanda, Raises Pre-series A Funding

Tanda, an agency banking as a service provider in Kenya, is currently raising a pre-Series A round of funding to propel its customer acquisition and retention within Kenya and beyond, likewise its product development. Launched in 2018, Tanda gives shop owners access to inventory on credit while being an access

Liquid Dataport Acquires Capacity on Google’s Equiano Cable

Liquid Dataport Acquires Capacity on Google’s Equiano Cable

In South Africa, Liquid Dataport, a division of Cassava Technologies, will be providing much-needed access to reasonably priced internet. The South African economy will benefit from Liquid Dataport’s acquisition of a pair of fiber cables on Equiano, the new West coast submarine cable, which can deliver up to 12

South African Crowd-Farming Startup Livestock Wealth Raises $550k Funding Round

South African Crowd-Farming Startup Livestock Wealth Raises $550k Funding Round

Livestock Wealth, a crowd-farming firm in South Africa, has raised $550,000 (ZAR10 million) in capital as it prepares to expand across Africa. The Mineworkers Investment Company’s venture capital division, Khulisani Ventures, provided the funding (MIO). According to Khulisani Ventures, inventions and innovations are the engines that power the

Egyptian-born SaaS Startup, Glamera Receives $1.3M Seed to Scale and Expand in the GCC Markets

Egyptian-born SaaS Startup, Glamera Receives $1.3M Seed to Scale and Expand in the GCC Markets

Glamera, an Egyptian-born SaaS startup, has received $1.3 million in Riyadh Angels Investors (RAI)-led Seed Round with participation from Techstars Accelerator, Ithraa Venture Capital, 100 Ventures, Silicon Valley Venture “Lucrative Ventures” and Super Angel Investors, to continue developing and launching planned new services and expanding into additional GCC

World Bank Supports Egypt’s Quest for a Cleaner Logistics and Transport Sectors with $400M

World Bank Supports Egypt’s Quest for a Cleaner Logistics and Transport Sectors with $400M

World Bank has approved a $400 million development financing agreement to boost Egypt’s logistics and transportation sectors and support the transition to low-carbon transportation along the Greater Cairo Area (GCA) railway corridor. The Cairo Alexandria trade logistics development project will include the construction of a railway bypass to the

Sendy laysoff 20% of its Staff As It Changes Operations

Sendy laysoff 20% of its Staff As It Changes Operations

Kenyan logistics company, Sendy, has laid off more of its staff months after it had laid off 10% of its workforce, this was made known when the company revealed its decision to fully focus on fulfilment services and closed down its supply service. Reporters also made that confirmation as the

Mastercard Rolls Out New Crypto Fraud Protection Tool

crypto exchanges

Mastercard Rolls Out New Crypto Fraud Protection Tool

Mastercard, a global payment innovator and technology company, has announced the launch of ‘Crypto Secure,’ a tool designed to assist banks in identifying and blocking fraudulent transactions from crypto exchanges. Crypto Secure’ is powered by CypherTrace, a California-based startup cryptocurrency intelligence and blockchain analytics firm acquired by Mastercard in early

Ghanaian logistics, Swiftly, Seeks Funding for Expansion

Ghanaian logistics, Swiftly, Seeks Funding for Expansion

Swiftly, a Ghanaian logistics startup has built a reputation and a solid market presence for itself since it launched, now it is seeking capital funding to push its international expansion project. Launched in 2016, the logistics startup provides users access to compare statements from its network of shipment forwarders, book

Cars.co.za invests $140k in Sun Exchange’s Solar Cells

Cars.co.za invests $140k in Sun Exchange’s Solar Cells

To promote renewable energy in South Africa, solar leasing company Sun Exchange and online auto marketplace Cars.co.za have partnered. Today, Sun Exchange revealed that the automotive platform had invested in a project to supply Karoo Fresh, a commercial farm in South Africa’s Karoo province, with off-grid solar

Pillow Fund Launches Interest Generating Savings App in Nigeria

Pillow Fund Launches Interest Generating Savings App in Nigeria

Pillow Fund, an Indian crypto investment company, has made its new product service launching in Africa with Nigeria as its landing location. While making investments in well-supervised and actively managed DeFi methods or strategies, Pillow fund has given its users access to yield downside-protected interest on their digital assets. According

ZenHR, an HR Software Startup, Secures $10M to Scale its Operations across MENA

Endeavor Catalyst

ZenHR, an HR Software Startup, Secures $10M to Scale its Operations across MENA

ZenHR, a MENA-focused human resource technology start-up has secured $10 million in Rua Growth Fund-led growth funding round with the participation of existing regional and global funds and investors, including Endeavor Catalyst to scale up its operations across the MENA region. The Riyadh-based startup offers products covering automated payroll calculations,

ANGLO AMERICAN AND EDF RENEWABLES PARTNER TO FORM ENVUSA ENERGY IN SOUTH AFRICA

ANGLO AMERICAN AND EDF RENEWABLES PARTNER TO FORM ENVUSA ENERGY IN SOUTH AFRICA

Envusa Energy, a new jointly owned firm to be formed by Anglo American and EDF Renewables, will be responsible for creating a regional renewable energy ecosystem (RREE) in South Africa. A Memorandum of Understanding between the two businesses was signed in March 2022 to explore the ecosystem’s growth and

Nigerian Advertising Regulatory Body, ARCON Sues Meta for $72.3 Billion over Breach of Laws

Nigerian Advertising Regulatory Body, ARCON Sues Meta for $72.3 Billion over Breach of Laws

The Advertising Regulatory Council of Nigeria (ARCON) has filed a lawsuit against Meta Platforms Incorporated, owners of Facebook, Instagram, and WhatsApp alongside its Nigerian public relations agency, AT3 Resources at the Federal High court based in Abuja, Nigeria. “ARCON is seeking a declaration that the continued publication and exposure of

Algebra Ventures, Egypt’s VC Firm Finalizes the First Close of its $100m Second Egypt-Dedicated Fund

Algebra Ventures

Algebra Ventures, Egypt’s VC Firm Finalizes the First Close of its $100m Second Egypt-Dedicated Fund

Algebra Ventures, Egypt and MENA-focused venture capital firm has announced the first close of its $100 million second fund. This comes just months after the venture capitalist announced the launch of its $90 million second fund in April. It was the follow-up to its first fund, which invested $54 million

Woolworths Announces Upgrade on Woolies App As It Nears 2M Users

Woolworths Announces Upgrade on Woolies App As It Nears 2M Users

Woolworths has announced it is expanding its online purchasing options to give its local customers a seamless omnichannel shopping experience. In an effort to provide customers with a better one-stop shopping experience, the business claims that its two mobile apps, Woolies Dash (its on-demand same-day buying service) and the Woolies

Microsoft SA Joins Vodacom in Sponsoring Code Like A Girl STEM Empowerment Project

Microsoft SA Joins Vodacom in Sponsoring Code Like A Girl STEM Empowerment Project

Software giant Microsoft SA has joined Vodacom as a new sponsor of the Code Like A Girl STEM empowerment initiative. This comes as the telecommunications company yesterday launched the September edition of its Code Like A Girl initiative. According to a statement from Vodacom, Microsoft SA is funding the effort

CardoO Receives $660K in Alex Angels-led Seed Round

Alexandria Angels

CardoO Receives $660K in Alex Angels-led Seed Round

CardoO, an IoT devices manufacturer has received a $660,000 in Alexandria Angels-led Seed funding round, with the participation of Sofico Investments, angel investors from Saudi Arabia, and the European Bank for Reconstruction and Development (EBRD). The Egypt-based IoT devices manufacturer plans to be the leading Arab brand that offers

Vodacom Business Africa Expands Its SD-WAN Solution To 47 Countries in Africa

Vodacom Business Africa Expands Its SD-WAN Solution To 47 Countries in Africa

Following its initial deployment to solely South African companies, Vodacom Business Africa has now made its Software-Defined Wide Area Networking (SD-WAN) solution available to 47 operating nations throughout its African footprint. Supporting the expansion of multinational corporations into Africa is Vodacom’s primary aim. The ongoing creation of creative solutions