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Nigerian Afriex Raises $10 Million For Its Blockchain Money Transfer Platform

Nigerian Afriex Raises $10 Million For Its Blockchain Money Transfer Platform

Nigeria-based fintech startup, Afriex has announced the close of a $10 million Series A round to expand its blockchain money transfer platform. This funding round was led by Sequoia Capital China and Dragonfly Capital with participation from Goldentree, Stellar Foundation, and Exceptional Capital, among others. Founded in 2019 by Tope

Ghana’s Farmerline raises $12.9m in Pre-Series A and Debt Funding Round to scale, help farmers get maximum output

Acumen Resilient Agriculture Fund

Ghana’s Farmerline raises $12.9m in Pre-Series A and Debt Funding Round to scale, help farmers get maximum output

Farmerline Group, a Ghanaian agtech startup that helps African farmers get maximum output from their farming business has raised $6.4 million in Pre-Series A investment and $6.5 million debt from Acumen Resilient Agriculture Fund (ARAF) and FMO, the Dutch entrepreneurial development bank-led equity round with participation from Greater

Google's Product Development Centre: what is in for the Kenyan talents?

Google's Product Development Centre: what is in for the Kenyan talents?

Kenya is an emerging East African economic hub with a population of about 55 million people with the youth constituting a large chunk of the population. Regrettably, this youthful population is not translating into economic growth due to the youth unemployment rate which stands at 13.5 percent, according to

African Banks are Scaling through Banking as a Service: Evidence from South Africa's Nedbank

African Banks are Scaling through Banking as a Service: Evidence from South Africa's Nedbank

Nedbank has been able to achieve giant strides over the years in Africa’s Fintech space. According to Barret Value Centre, their focus on building a strong foundation of values has contributed immensely. However, Nedbank have not been without some challenges. In fact, Nedbank was once considered the lowest of

Celebrity shout-out Platform, Minly, is Creating Personalized Experiences Between Celebrities and Fans

Celebrity shout-out Platform, Minly, is Creating Personalized Experiences Between Celebrities and Fans

In discussing the uniqueness of Minly’s service, then we are looking at a startup interested in spreading positivity. Minly, an Egypt-based creator economy platform launched in 2020. Mohamed El-Shinnawy, Tarek Hosny, Tarek ElGanainy, Ahmed Abbas and Bassel El-Toukhy all co-founded the startup. Minly’s focus is to provide tools

Wave gets e-money license to operate in 8 francophone countries

Wave gets e-money license to operate in 8 francophone countries

Senegal based fintech unicorn, Wave Digital Finance, has acquired an e-money license from the Central Bank of West African States (BCEAO). This licence will allow Wave to provide its financial services to 8 Francophone West African countries—Benin, Guinea Bissau, Burkina Faso, Côte d’Ivoire, Mali, Niger, Senegal and Togo—

Google and its cable landing partner, WIOCC lands Equiano subsea cable in Nigeria

Equiano-subsea-cable

Google and its cable landing partner, WIOCC lands Equiano subsea cable in Nigeria

Google and its cable landing partner, the West Indian Ocean Cable Company (WIOCC) have today announced the landing of its state-of-the-art Equiano subsea cable, expected to significantly impact Nigeria’s current and future international internet connectivity demands, increase internet speeds by a factor of six, reduce internet retail prices by

Electric Vehicles: When will Africa be ripe for mass adoption?

Electric Vehicles: When will Africa be ripe for mass adoption?

Africa is home to over 1.3 billion people, and about 72 million vehicles ply the roads across the continent. Most of these vehicles use Internal Combustion Engine (ICE), powered by fossil fuels—petroleum and natural gas, which pollute the air and are dangerous to humans and the environment. Also,

Google launches first product development center in Nairobi

Global tech giant, Google has announced the launch of a product development center in Nairobi, its first in the continent. The company said it set up the centre to build “transformative” products and services for the African market and the world. Suzanne Frey, Google VP for products disclosed that the

Chooya is Leveraging Word-of-Mouth Advertisement for Business Growth

Chooya is Leveraging Word-of-Mouth Advertisement for Business Growth

African businesses are more aware of the reality of demanding, brand-conscious consumers living in a challenging environment. However, they still have to find the most efficient and effective way to reach them. This essential aspect of commerce has been simplified most effectively by Chooya. The Nigerian E-commerce startup is looking

6 startups bridging the tech talent gap in Africa

6 startups bridging the tech talent gap in Africa

A joint report by Google and the International Finance Corporation (IFC) in 2020 disclosed that there are only 700,000 professional developers in Africa.

Etap closes $1.5 million pre-seed round to drive car insurance penetration in Africa

Etap closes $1.5 million pre-seed round to drive car insurance penetration in Africa

Etap, a Nigeria-based insurtech startup that makes it easier to buy and claim insurance, has raised $1.5 million in pre-seed funding to grow its team and drive the adoption of much-needed car insurance across Africa. Starting in Nigeria, the new funding will support the roll-out of ETAP’s game-changing

Zambian card issuing startup, Union54 secures $12M in Tiger Global-led seed extension round

Zambian card issuing startup, Union54 secures $12M in Tiger Global-led seed extension round

Union54 a Zambian card issuing fintech startup has secured $12 million in a Tiger Global-led seed extension round, with participation from existing investors like Vibe VC, new investors, Earl Grey Capital, and Packy Mccormick’s Not Boring Capital. Union54’s API allows African software companies to issue and manage their

From Virtual Jobs to Virtual Lives. Emerging Techs Will Transform Living Patterns

From Virtual Jobs to Virtual Lives. Emerging Techs Will Transform Living Patterns

Workplace flexibility is trending more and more by the day. Organizations are adopting the work pattern to reduce cost or facilitate work flexibility for staff. Forbes predicted 2020 to be the year of the remote. However, the year ushered in a new pattern for carrying out tasks. The boundary of

OPay receives Provisional Approval from CBE, partners Egypt's largest card provider to Issue Prepaid Cards

OPay receives Provisional Approval from CBE, partners Egypt's largest card provider to Issue Prepaid Cards

Opay, the emerging market fintech unicorn announced that it has received provisional approval from the Central Bank of Egypt (CBE) to issue prepaid cards via its OPay app in partnership with Masria Digital Payments (MDP), Egypt’s largest card provider. This is a bold step since the fintech company signed

Twiga Foods is Improving Market Access for Farmers and Reducing Food Price in Kenya

Twiga Foods is Improving Market Access for Farmers and Reducing Food Price in Kenya

50% of Africa’s workforce relies on the agricultural sector for their livelihood, income, and employment. Particularly in Kenya, agriculture accounts for over a quarter of the country’s GDP. Over 75 per cent of the country’s population makes some part of their living from agriculture. However, inefficient handling

South African crypto platform, Luno crosses 10million users

South African crypto platform, Luno crosses 10million users

South African Crypto platform, Luno announced on Wednesday that it has onboarded 10 million users across 40 countries into its platform. Founded by Marcus Swanepoel and Timothy Stranex in 2013, Luno said it has enabled over $52 billion worth of crypto transactions, and its customers have stored in excess of

Nigerian Digital Bank, Umba secures $15m Series A to Expand into new markets in Africa

Costanoa Ventures

Nigerian Digital Bank, Umba secures $15m Series A to Expand into new markets in Africa

Umba, a Lagos-headquartered digital banking platform announced that it has secured $15 million in VC firm Costanoa Ventures-led series A round to expand into new markets in Africa. Alongside a couple of Nubank executives, investors like Tom Blomfield, the co-founder of Monzo, previous backers, Lachy Groom and ACT Ventures, and

Egypt based Healthtech startup, Rology Closes Pre-Series A Round

Egypt based Healthtech startup, Rology Closes Pre-Series A Round

Egypt-based healthtech startup, Rology has raised an undisclosed pre-Series A round from Egypt Ventures, Sequence Ventures, Waseel, Tawaref, and Viktoria Ventures, alongside previous investors including HIM Angels, AAIC, DAI, and Cubit Ventures. Founded in 2017 by Amr AboDraiaa, Mahmoud Eldefrawy, Moaaz Hossam, and Bassam Khallaf, Rology is an on-demand teleradiology

Shift EV, Egypt's Electric Vehicle Startup Raises Series A Round to scale in the MENA region

Algebra Ventures

Shift EV, Egypt's Electric Vehicle Startup Raises Series A Round to scale in the MENA region

Shift EV, an Egypt-based electric vehicle startup, has raised an undisclosed Series A round, led by the startup’s existing investors; Union Square Ventures, Algebra Ventures, Wamda, and was joined by a first-time investor Oman Technology Fund (OTF) to set up its manufacturing facility, grow its team, double down on

Nigerian fintech startup, Lemonade Finance expands to 7 more markets

Nigerian fintech startup, Lemonade Finance expands to 7 more markets

Nigerian fintech startup, Lemonade Finance, has announced it is expanding its services to seven new markets, namely Senegal, Ivory Coast, Benin, Cameroon, Tanzania, Rwanda, and Uganda. Founded in 2020 by Ridwan Olalere and Rian Cochran and a participant in Y Combinator’s W21 batch last year, Lemonade Finance allows Africans

Egypt’s Pylon secures $19M to scale software for water and electricity distribution companies, expand into new markets

Egypt’s Pylon secures $19M to scale software for water and electricity distribution companies, expand into new markets

Pylon, an Egyptian infrastructure management start-up for emerging water and electricity utilities, has received a seed round of $19 million. The United States-based Endure Capital, backed by British International Investment (formerly CDC Group), the UK government’s development finance institution led the round with participation from Cathexis Ventures, Loftyinc Ventures,

Releaf is Empowering Smallholder Farmers and Disrupting Food Processing in Africa

Releaf is Empowering Smallholder Farmers and Disrupting Food Processing in Africa

Agritech has become a beacon of hope in the commercialization of the Agricultural industry among African Nations. Applying tech has bolstered the efficiency, sustainability, and profitability of agricultural processes and businesses. Nigerian Agritech startup, Releaf, has looked to improve the output and help African farmers earn more from their agricultural

Visa, the global leader in digital payments opens the first African Innovation Studio in Nairobi

Visa, the global leader in digital payments opens the first African Innovation Studio in Nairobi

Visa, a leading digital payment company that accelerates payments between consumers, merchants, financial institutions, and government organizations in over 200 countries and territories, has inaugurated an Innovation Studio in Nairobi, Kenya. This facility will serve Sub-Saharan Africa and be part of Visa’s network of innovation centers, which have been