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Telda, Egypt’s Fintech Receives Final Approval from The Central Bank of Egypt to Launch Telda Card and App

Telda, Egypt’s Fintech Receives Final Approval from The Central Bank of Egypt to Launch Telda Card and App

Telda, an Egyptian fintech startup, has officially received the final approval from The Central Bank of Egypt (CBE) to start operating its card and application in the Egyptian market in a stride to fulfill financial inclusion and digital transformation goals as envisioned by the country’s apex bank. The Telda

Mohamed El-Sewedy Acquires Magma via Averroes Ventures for an Undisclosed Amount

Averroes Ventures

Mohamed El-Sewedy Acquires Magma via Averroes Ventures for an Undisclosed Amount

Averroes Ventures, an Egyptian early-stage VC firm backed by the Mohamed El-Sewedy, has acquired sportswear startup, Magma for an undisclosed sum. Averroes Ventures’ acquisition of Magma, one of Egypt’s promising sportswear manufacturers, will reposition the startup to meet the needs of an untapped segment of the Egyptian market. Magma

Internet Tariff Hike in Zimbabwe as Government Announces Planned Two Times Voice, SMS and Data Prices Increment in 2022

Internet Tariff Hike in Zimbabwe as Government Announces Planned Two Times Voice, SMS and Data Prices Increment in 2022

The internet tariff hike in Zimbabwe will go from bad to worse by September. In a circular on price modifications, the Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ) outlined what we might anticipate later this year. The most recent changes to POTRAZ’s tariffs were implemented in September 2021.

Bloom Secures $6.5 Million Seed Funding

Bloom Secures $6.5 Million Seed Funding

Sudan’s first YC-supported startup, Bloom, has secured a $6.5 million seed to complete its expansion plan. The company plans to expand across the Anglo-East African countries, such as Zambia, Rwanda, Tanzania, Etiopia, and Kenya. Bloom is a Sudanese fintech company that offers a high-yielding saving service through its

Cathay Innovation Partners AfricInvest as it Complete Final Close of $112M Pan-African Venture Fund

Cathay Innovation Partners AfricInvest as it Complete Final Close of $112M Pan-African Venture Fund

Cathay Innovation, a global venture capital firm, and AfricInvest, a top multi-asset investment platform in Africa, have achieved the final closure of their combined Pan-African Venture Fund, Cathay AfricInvest Innovation Fund [CAIF], at $112M. The fund is supported by Limited Partners including EIB, AfricaGrow, FMO, Bpifrance, Triodos Investment Management, Proparco,

Mara Launches Blockchain Competition To Inspire African Developers

Mara Launches Blockchain Competition To Inspire African Developers

Mara, a Pan-African blockchain platform has announced the launching of its competition, which will commence on the 17th and end on the 26th of September 2022, The competition is titled “Hack The Mara”, it is in line with its determination to motivate African developers to “build the future of Africa

How South Africa Raised Over $1Billion Funding in the Last 7 Years

How South Africa Raised Over $1Billion Funding in the Last 7 Years

According to Disrupt Africa’s South Africa Ecosystem Report 2022, 357 South African businesses have funded minimum total funding of US$993,684,600, which is only surpassed by Nigeria locations on the African continent. The nation is one of the “big four” locations for investments. It’s interesting how

Cassava Technologies Secures $50m Strategic Investment from C5 Capital

Cassava Technologies Secures $50m Strategic Investment from C5 Capital

Cassava Technologies, Africa’s first integrated technology company on a continental scale, announced today that it has secured a $50 million investment from C5 Capital, a specialist venture capital firm that invests in cyber security, space security, and energy security. The investment is part of a larger funding round to

Netflix Begins Clamping down on Password Sharing, Introduces New Charge via ‘Add a Home’ Option

Netflix Begins Clamping down on Password Sharing, Introduces New Charge via ‘Add a Home’ Option

Netflix, the world’s leading streaming service, has announced that it will begin testing a new “add a home” feature in selected countries that will charge users who share their accounts with others. The test is part of the company’s recent effort to reduce password sharing. From next month,

Snapchat Rolls out its Web Version

Snapchat Rolls out its Web Version

Snapchat, a multimedia instant messaging app, announced the release of Snapchat for Web today, allowing users to send snaps and chat with friends via video calls from their desktops. This Snap for Web will initially be available to Snapchat+ subscribers in the United States, the United Kingdom, Canada, Australia, and

Instagram Rolls out New Payments Feature to Enable Users Buy Products Via DMs

Instagram Rolls out New Payments Feature to Enable Users Buy Products Via DMs

Instagram, one of the social networking sites owned by Meta, has today announced through its, CEO, Mark Zuckerberg that the company is launching a new “payments in chat” feature on Instagram. This new feature will allow users to purchase products from small businesses and track orders via direct messages on

What Will be the Cost of MTN’s Imminent Telkom Takeover?

What Will be the Cost of MTN’s Imminent Telkom Takeover?

MTN has informed its shareholders that it is in talks for a Telkom takeover. An agreement will see it purchase Telkom’s entire issued share capital in exchange for shares or a cash and share combination. However, MTN said in a Friday (15 July) statement that talks are in the

Egypt’s Stllr Network Secures Six-figure Investment Round to Scale and Expand across MENA

Egypt’s Stllr Network Secures Six-figure Investment Round to Scale and Expand across MENA

Stllr Network, the largest network of vetted freelancers and teams in MENA, has secured a six-figure investment round following a public beta launch from 500 Global angel investors through Women Spark and Falak Angels. Other investors in the round include the KSA Ministry of Investment, ex-Microsoft and Oracle executives, Accenture,

Kofi Annan Foundation Awards Nigerian, Kenyan and Zimbabwean Startups For Innovation

Kofi Annan Foundation Awards Nigerian, Kenyan and Zimbabwean Startups For Innovation

The first Kofi Annan Award for Innovation in Africa has been awarded to three startups for outstanding creativity. The awarded startups are from Nigeria, Kenya, and Zimbabwe. Each awardee will be offered grants, long-term mentoring, and international visibility. The Kofi Annan Award, an initiative of the Kofi Annan Foundation, seeks

Seamfix Develops Personal NIN Service

Seamfix Develops Personal NIN Service

Seamfix, a software development company focused on Identity management, has developed a unique service to enable Nigerians to have seamless identification registration. Coming up with its latest service, Personal National Identification Number(P-NIN), Seamfix intends to solve the problems people face when registering their identification number, mainly because it has

South African Student Housing Startup, DigsConnect, Secures Pre-Series A Funding to Accelerate Expansion

South African Student Housing Startup, DigsConnect, Secures Pre-Series A Funding to Accelerate Expansion

DigsConnect, a South African digital student housing platform, has closed a pre-Series A round of funding to drive its global expansion with a focus on assisting African students in the UK and US acquire more reasonably priced, practical, and secure housing. The DigsConnect platform, which was launched in 2017 by

Korapay Denies Allegations Of Money Laundering In Kenya

Korapay Denies Allegations Of Money Laundering In Kenya

Contrary to Asset Recovery Agency, ARA, laundering allegations in court, Korapay Technologies has come out to deny the said allegation of money laundering activities in Kenya. On the 14th of July 2022, a Kenyan High Court, through Lady Justice Esther Maina, passed the order to freeze Korapay Technologies and Kandon

TikTok Kenya Set Up Initiative Against Hate Speech Ahead General Elections

TikTok Kenya Set Up Initiative Against Hate Speech Ahead General Elections

To curb hate speech and fake news ahead of the 2022 general election, TikTok has launched an “in-app guide” for its Kenyan community. The popular social media application made this known through a newsletter released to the public. The company also hosted “in-market” projects to support its vision to help

South Africa’s Competition Commission Claims Amazon unlikely to ‘displace’ Takealot in South Africa

South Africa’s Competition Commission Claims Amazon unlikely to ‘displace’ Takealot in South Africa

Although the retail behemoth, Amazon, is reportedly launching in South Africa, the Competition Commission claims it is doubtful that it can unseat current leaders like Takealot. The commission released its Online Platforms Market Inquiry’s findings on Wednesday 14 July, and many issues with Takeloot’s dominance as well as

Kenyan High Court Freeze Korapay, Kandon Accounts

Kenyan High Court Freeze Korapay, Kandon Accounts

A Kenyan high court has frozen the accounts of two Nigerian fintech companies on allegations of money laundering. This action comes after another high court in Kenya had frozen the accounts of one of the continent’s biggest fintech companies, and also Nigerian-owned, Flutterwave, last week. The presiding Justice, Lady

Moove, an African Mobility Fintech Startup, Raises $20M in Funding to Expand Across the Continent

Absa Corporate and Investment Banking

Moove, an African Mobility Fintech Startup, Raises $20M in Funding to Expand Across the Continent

Moove Africa, a Nigerian-born global mobility fintech startup, announced on Thursday that it has received $20 million in funding from South Africa’s Absa Corporate and Investment Banking (CIB) to expand across the continent. The funding is the fintech’s first with an African bank, bringing Moove’s total fund

The Professional Narratives on the Present State of Crypto Trading

The Professional Narratives on the Present State of Crypto Trading

According to 53 financial experts surveyed by Finder.com, the price of Bitcoin (BTC) will plummet to $13,676 per unit this year. The survey gave the figures that will guide the global crypto trading space. Experts predict that the price of Bitcoin will bottom out at roughly $13,676

SendSprint Launches With Agenda To Connect Africa With Diaspora

SendSprint Launches With Agenda To Connect Africa With Diaspora

There is a new startup in town and it’s coming in big. SendSprint has joined the leagues of fintech startups as it recently launched in the united kingdom, UK. Starting out as an affiliate of one of Africa’s biggest fintech companies, Flutterwave, SendSprint is in the ecosystem to

The Boston Consulting Group reports that South African Investors Are Turning to Emerging Trends to Make Money

Assets Management

The Boston Consulting Group reports that South African Investors Are Turning to Emerging Trends to Make Money

According to a new analysis by Boston Consulting Group, the asset management sector kept up its remarkable growth trajectory in 2021. Results indicated that South African investors are tilting toward investing in emerging trends other than other investment areas. According to the report, the worldwide Assets under Management (AuM) increased