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A collection of 20 posts

Nestcoin’s Metaverse Magna secures $3.2 million seed to build Africa’s largest crypto gaming community

Nestcoin’s Metaverse Magna secures $3.2 million seed to build Africa’s largest crypto gaming community

Metaverse Magna (MVM) has raised $3.2 million seed to build Africa’s largest gaming decentralized autonomous organization (DAO). It was incubated in partnership with Old Fashion Research (OFR), a multi-strategy blockchain investment fund. This was after Nestcoin procured a pre-seed fund of $6.45 million in February of this

Kuda Lays Off Employees To Attain Strategic Growth Plan

Kuda Lays Off Employees To Attain Strategic Growth Plan

Nigeria and UK-based digital bank, Kuda, has revealed that it has cut its workforce, thereby joining the league of African tech organizations that are cutting down on their team. Word of the cut-down was confirmed by the company itself through an email which formally disclosed the steps it was taking

Netflix Scholarship Applications Now Open for West and Central Africa

Netflix Scholarship Applications Now Open for West and Central Africa

Netflix has just announced that its scholarship fund is now accepting applications from students in West and Central Africa. The scholarship fund, Netflix Creative Scholarship Fund, now encourages students in Benin, Ghana Garborn, and Nigeria. Netflix, an audio streaming platform, launched the global creative scholarship a year ago (2021) and

Fintech-focused Cape Town Stock Exchange raises $5M from Imvelo Ventures

Fintech-focused Cape Town Stock Exchange raises $5M from Imvelo Ventures

South African Cape Town Stock Exchange (CTSE), has secured a $5M (R85 million) financing round led by Imvelo Ventures, a new investor to the group and a venture capital investment firm founded by Capitec Bank and Empowerment Capital Investment Partners. Lebashe Investment Group, Pallidus Alternative Investments, Shaolin Investments Limited, and

If You Can’t Beat Them, Partner with Someone to Fight Them. Toto Consortium Bids for State’s 40% Stake in Telkom

If You Can’t Beat Them, Partner with Someone to Fight Them. Toto Consortium Bids for State’s 40% Stake in Telkom

Telkom can no longer help but trend. After receiving a merger offer from Rain on Thursday, the telecom giant is once again in the news today. This time, Investment firm Toto Consortium made an offer valued at $433 million (R7 billion) for the stake in the nation’s third-largest mobile-phone

What African Startups Can Achieve from the GoGetta Equity-based Crowdfunding Platform

What African Startups Can Achieve from the GoGetta Equity-based Crowdfunding Platform

Angel and Venture Capital investors from South Africa and beyond can now choose from vetted prospects to make rapid, secure investments of R1000 (approximately $60) or more to acquire shares in a variety of African businesses. The digital crowdfunding platform, GoGetta makes this possible in order to help early-stage African

Kenyan Technology Players Organize Digital Talent Program For Youths

Kenyan Technology Players Organize Digital Talent Program For Youths

Major players in the Kenyan technology sector have come together to launch a Digital Talent Program directed at improving digital skills within the market by embarking on a sustainable approach to help develop thriving digital talent. The DTP is intended to train about One thousand participants in its maiden edition

NALA Opens Headquarters in Nairobi, Partners with Equity Bank

NALA Opens Headquarters in Nairobi, Partners with Equity Bank

NALA, a Tanzanian fintech with a developed system to process payments has opened its Headquarters in Nairobi, Kenya, and likewise partnered with Kenya’s Equity Bank. This will be NALA’s first physical presence since inception as it had previously run a fully remote workforce, this time the headquarters will

AVIC International Brings Back Technology Competition In 6 African Nations

AVIC International Brings Back Technology Competition In 6 African Nations

AVIC International Holding Corporation, AVIC International, has disclosed that its competition, Africa Technology Challenge is back and will take place in Ghana, Uganda, Kenya, Egypt, Zimbabwe, and Zambia. This season will be the competition’s seventh season. The Covid-19 pandemic had caused a two-year break. AVIC International is an intercontinental

RSwitch Partners With EFT Corporation For Rwanda's Fintech

RSwitch Partners With EFT Corporation For Rwanda's Fintech

Rwanda’s national e-payment system, RSwitch, has partnered with one of Africa’s fintech experts, EFT Corporation. This partnership comes in a bid to develop Rwanda’s financial technology, giving Rwandans ingress to their finances on various technology platforms. RSwitch is set to gain massively from this contract, which includes

Morocco Finalizes Crypto Regulation: Why More African Countries Should Follow Suit

Morocco Finalizes Crypto Regulation: Why More African Countries Should Follow Suit

Despite growing use, cryptocurrencies have struggled for legitimacy in Africa for years. However, according to Chainalysis, a blockchain data platform, crypto usage on the continent is growing faster than anywhere else, with transaction volumes increasing 1,200 percent between July 2020 and 2021. Reports suggest that one in every three

Egypt state banks launch Nclude, an $85M innovation fund for fintech companies

Egypt state banks launch Nclude, an $85M innovation fund for fintech companies

Three of Egypt’s biggest state-owned banks are jointly setting up an $85 million financial technology fund called Nclude which aims at accelerating innovation in the fintech sector. The fund will focus on both accelerating fintech and driving financial inclusion in the country. Venture capital firm, Global Ventures, a partner

SA’s Silvertree Brands acquires foodtech UCOOK in $12.3M deal

SA’s Silvertree Brands acquires foodtech UCOOK in $12.3M deal

South Africa’s leading consumer brand Silvertree Brands, has acquired food tech meal kit delivery startup UCOOK in a deal worth ZAR 187 million ($12.3 million). The South African dinner kit delivery service provides viable and ethically sourced ingredients delivered to users. The startup was co-founded by David Torr,

South African Digital Bank, TymeBank, Expands To The Philippines, Records 3.5m Customers In 2 Years

South African Digital Bank, TymeBank, Expands To The Philippines, Records 3.5m Customers In 2 Years

South Africa based Fintech startup TymeBank, has announced that it is expanding its operations to the Philippines through its newly-established firm, GOtyme. Tymbank became South Africa’s first digital bank when it was launched in 2019 by the trio of Coen Jonker, Rolf Eichweber, Tjaart van der Waalt, TymeBank. The

South African VC firm Kalon raises $17.5m fund as Section 12J initiative draws to a close

South African VC firm Kalon raises $17.5m fund as Section 12J initiative draws to a close

South African venture capital firm Kalon Venture Partners has announced the completion of its Section 12 J capital raise with Assets Under Management of over $17.5m. Kalon Venture Partners was founded in 2016, the VC firm is one of the leading South African venture capital funds, the firm invests

Germany’s Impacc set to invest up to $150k in Africa Startups

Germany’s Impacc set to invest up to $150k in Africa Startups

Germany-based non-profit Impacc has announced plans to provide smart equity investment of between $30,000 and $150,000 to African startups with sustainable, high-impact solutions to social, economic, and environmental challenges affecting the base of pyramid communities in Africa. Impacc focuses on supporting startups in areas that are untapped. This

South African Fintech startup Ukheshe Expands to Asia-Pacific

South African Fintech startup Ukheshe Expands to Asia-Pacific

South African Fintech startup Ukheshe Technologies has announced its expansion into the Asia-Pacific region stemming from its introduction of an innovative digital-first payment solution. Ukheshe has fostered an innovation platform that provides banks and telecoms SMMEs with moderate advanced banking and installment administrations, with customer obtaining, onboarding, and dissemination costs

Egyptian Odiggo Raises Fund, Plans International Expansion

Egyptian Odiggo Raises Fund, Plans International Expansion

Egyptian startup Odiggo that recently closed an undisclosed amount in a funding round has announced it is set for international growth. Odiggo was created in 2018 by Ahmed Omar but launched its service in 2019, the startup links customers with vendors in order to purchase car parts and accessories. Odiggo

PayGas, South African energy startup, teams up with Afrox to install 52 Pay-as-you-gas stations in SA

PayGas, South African energy startup, teams up with Afrox to install 52 Pay-as-you-gas stations in SA

PayGas, a South African energy tech startup, has teamed up with Afrox, South Africa’s leading Liquified Petroleum Gas company to build 52 Pay-as-you-gas™ stations across the country. PayGas(Pty) Ltd is an LPG retailer, that provides gas for clients via its cashless technology which allows customers to fill cylinders

Uber Appoints A New head For its Asia Pacific Business; Pradeep Parameswaran.

Uber Appoints A New head For its Asia Pacific Business; Pradeep Parameswaran.

Uber has appointed Pradeep Parameswaran, as its new head for the Asia Pacific part of the business and he is set to begin his new role next week. Parameswaran was the chief of Uber India and South Asia and during his time of leadership, he helped Uber develop and successfully