Business - (Page 13)

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Business

A collection of 361 posts

Nigeria's Apex Bank approves MFS Africa's acquisition of Capricorn Digital Limited

Nigeria's Apex Bank approves MFS Africa's acquisition of Capricorn Digital Limited

MFS Africa, a pan African digital payments platform, has completed its acquisition of Nigerian super-agent Capricorn Digital Limited (owners of Baxi) following approval of the transaction by the Central Bank of Nigeria. According to Dare Okoudjou, Founder and CEO, MFS Africa, “this deal is a pivotal step in our journey.

Egyptian Q-commerce start-up, Rabbit acquires license to operate in Saudi, to invest $60m

Egyptian Q-commerce start-up, Rabbit acquires license to operate in Saudi, to invest $60m

Barely months after its audacious entry into the Egyptian market with a record $11 million pre-seed round, Rabbitmart, the quick commerce platform announced it has received its license to operate in The Kingdom of Saudi Arabia from the Saudi Arabian Ministry of Investment. The license was awarded by Saudi’s

MainOne expands Fiber Infrastructure to the Lagos Free Zone

MainOne expands Fiber Infrastructure to the Lagos Free Zone

West Africa’s leading connectivity and data centre solutions provider, MainOne, has announced the expansion of its fiber-optic network infrastructure to the Lagos Free Zone in Lekki. Being the first private free Zone in Nigeria, the Lagos Free Zone aims to be the preferred investment hub in Nigeria with best-in-class

Bedaya Fund II, $150 million fund launched by UAE-based Shorooq Partners, to invest in North African early startups

Bedaya Fund II, $150 million fund launched by UAE-based Shorooq Partners, to invest in North African early startups

Shorooq Partners, a MENAP-based early-stage venture capital firm, has announced the second edition of its seed-stage-focused fund, Bedaya Fund II, with a target fund size of $150 million to invest in the North African region. Bedaya Fund II is a continuation of Shorooq Partners’ strategy, which has been in place

Microsoft launches first $100 million African Development Centre in Lagos

Microsoft launches first $100 million African Development Centre in Lagos

Tech giant Microsoft has launched its much anticipated African Development Centre (ADC) in Lagos, Nigeria. The center, a $100 million investment by the multi-billion dollar firm, is expected to produce software engineering solutions provided to Africa. The hub, which Microsoft created alongside the one in Nairobi, Kenya, will be the

Kenya's Sokowatch raises $125M in Series B as it rebrands to Wasoko to further expand across Africa

Kenya's Sokowatch raises $125M in Series B as it rebrands to Wasoko to further expand across Africa

Kenya-based B2B company, Sokowatch has raised $125 million in Series B round in full equity and rebranded to Wasoko. This funding is the largest funding round raised in Africa for a non-fintech startup. The series round was led by Tiger Global and Avenir Growth and also had participating VNV Global,

SA Payments Company, Yoco acquires Nona Digital, leading fintech, Web3 software development agency

SA Payments Company, Yoco acquires Nona Digital, leading fintech, Web3 software development agency

Yoco a South African payments, and software company has announced its acquisition of one of the leading fintech and Web3 software development agencies in Africa, Nona Digital. The payment firm raised a staggering sum of $83 million in Series C funding last July, has acquired Nona Digital. Both companies have

YC and Kepple Africa Ventures-backed, Curacel unveils new API platform that enables tech-led businesses to offer insurance to Africans

YC and Kepple Africa Ventures-backed, Curacel unveils new API platform that enables tech-led businesses to offer insurance to Africans

Curacel, a Nigerian-based Y Combinator-backed insurtech startup that develops insurance infrastructure for the African market, has announced a new platform that enables digital businesses to add insurance to their core product offerings. Grow, an API-based platform, has been linked with 22 digital companies throughout Africa, including Topshop, Barter by Flutterwave,

Ghanaian e-commerce startup Tendo has launched in Nigeria with backing from big name investors

Ghanaian e-commerce startup Tendo has launched in Nigeria with backing from big name investors

Ghanaian e-commerce platform Tendo has launched in Nigeria after securing investments from leading accelerators such as Catalyst Fund, Google, and Y Combinator. The startup, allows anyone to start an online business without upfront capital. Tendo connects small businesses and merchants to individuals who resell. This allows resellers to add their

Dream VC launches two fellowship programs to democratize knowledge and access to the Venture Capital Space in Africa

Dream VC launches two fellowship programs to democratize knowledge and access to the Venture Capital Space in Africa

Dream VC, an investor accelerator and community-driven educational platform has launched two fellowship programs – Launch into Venture Capital (LIVC) and Investor Accelerator – to train more than 50 future investors in Africa. Founded by Cindy Ai and Mark Kleyner in 2021, Dream VC provides rigorous remote programs centred specifically around venture

Mowarrid, Egypt-based B2B marketplace acquired by Saudi Arabia-based B2B e-commerce platform, Sary

Mowarrid, Egypt-based B2B marketplace acquired by Saudi Arabia-based B2B e-commerce platform, Sary

Mowarrid, an Egyptian leading B2B Marketplace which focuses on B2B food and grocery, allowing retailers to procure their needs across its platform digitally has been acquired by the Saudi Arabian-based B2B e-Commerce platform, Sary for an undisclosed amount. Last December, the start-up secured the biggest E-commerce funding round in Egypt

Vula Mobile, South African health-tech startup partners Novartis to provide seamless eye care services across Africa

Vula Mobile, South African health-tech startup partners Novartis to provide seamless eye care services across Africa

Vula Mobile, a South African health-tech startup, a medical referral app and online platform which hosts a network of health professionals and connects healthcare workers by providing a safe and secure platform to share advice has partnered with the leading medicines firm, Novartis to provide an improved eye care services

Egyptian start-up, Homzmart, acquires Berlin-based technology company, MockUp Studio, expands into Europe

Egyptian start-up, Homzmart, acquires Berlin-based technology company, MockUp Studio, expands into Europe

Homzmart, an Egyptian-based start-up and leading furniture and home goods marketplace platform in the Northern Africa and the Middle East region announced its successful acquisition of the Berlin-based technology company, MockUp Studio to extend its consolidation of the furniture value chain and expansion into Europe. The acquisition confirms that Homzmart

MTN purchases 144 plots of digital land for undisclosed fee, becomes first African telco to enter the Metaverse

Africarare metaverse Ubuntuland

MTN purchases 144 plots of digital land for undisclosed fee, becomes first African telco to enter the Metaverse

MTN Group, Africa’s largest telecommunications company, has announced the acquisition of 144 digital land plots in the Africarare metaverse Ubuntuland for an undisclosed sum. MTN Group has made history as the first African telecommunication company to enter the Metaverse with this purchase. Africarare is a pioneering South African Metaverse

GE Healthcare and a Kenyan startup, Afya Rekod partners to boost healthcare delivery in Africa

GE Healthcare and a Kenyan startup, Afya Rekod partners to boost healthcare delivery in Africa

GE Healthcare and Afya Rekod, a Kenyan startup, have struck a strategic relationship to boost care delivery in Nigeria, Kenya, and South Africa by providing better and more seamless access to personal health data. By enabling hospitals and diagnostic institutions to host health records securely on one platform through a

Boxconn plans aggressive expansion across Africa after facilitating thousands of deliveries in Nigeria and Botswana

Boxconn plans aggressive expansion across Africa after facilitating thousands of deliveries in Nigeria and Botswana

Boxconn is a Ghanaian logistics software platform that enables businesses and individuals to deliver on-demand. It provides a white-label delivery service that allows businesses to promote delivery through their own channels while also gaining access to an on-demand fleet of riders. The e-logistic start-up was founded in January 2021 by

TradeDepot, B2B marketplace acquires Ghanaian-based Green Lion to drive expansion across Ghana

TradeDepot, B2B marketplace acquires Ghanaian-based Green Lion to drive expansion across Ghana

TradeDepot, a leading B2B eCommerce platform that connects micro-retailers with distributors and manufacturers of fast-moving consumer goods (FMCGs), has announced the acquisition of Green Lion, a fast-growing B2B eCommerce platform in Ghana, for an undisclosed sum. This will help the company expand and provide seamless service delivery. TradeDeport will acquire

Fawry partners other tech founders to establish ‘Roaderz’, a last mile delivery for SMEs

Fawry partners other tech founders to establish ‘Roaderz’, a last mile delivery for SMEs

Leading Egyptian e-payment solution provider, Fawry, has announced that it has signed an agreement with Samer Gharaibeh, Softec Technologies, and Ammar Zawaideh to co-found Roaderz, a tech-enabled crowdsourcing platform to connect individual couriers and small delivery operations with e-commerce merchants and social sellers. Roaderz, through AI, would allow merchants to

Cellulant gets nod from the Kenyan Central Bank to operate in the country

Cellulant gets nod from the Kenyan Central Bank to operate in the country

Cellulant, a Payment Service Provider has gotten the approval of the Central Bank of Kenya to expand its payments services for businesses, banks, and consumers in the East African country. With this approval, Cellulant will continue to allow businesses to collect payments online and offline, while allowing anyone to pay

Why Mdundo is targeting more Telco partnership across Africa

Why Mdundo is targeting more Telco partnership across Africa

Mdundo, a music streaming service focused on Africa, is looking to expand its agreements with telecom service providers across the continent to boost its earnings and subscriber base. This expansion is due to collaborations with MTN and Airtel in Nigeria and Vodacom in Tanzania, which doubled its user base by

Kenyan plastics recycling company, Mr. Green Africa, secures funding to scale its business across Africa

Kenyan plastics recycling company, Mr. Green Africa, secures funding to scale its business across Africa

Mr. Green Africa, a Kenyan plastics recycling pioneer company, is a circular recycling business that uses a technology-driven plastics collection model. The model enables waste collection at the source, integrating informal waste workers, micro-entrepreneurs, and consumers into a formal value chain. The plastic recycling company has secured an undisclosed amount

Ugandan fintech ChapChap, secures funding to accelerate expansion within and beyond its borders

Ugandan fintech ChapChap, secures funding to accelerate expansion within and beyond its borders

Ugandan fintech startup ChapChap has secured funding to accelerate growth and social impact creation. The funding round was led by Nordic Impact Funds and conducted through the Investure-Impact Exchange. ChapChap provides financial support to small and medium enterprises by creating a financial profile for low-income individuals and businesses and making

Kenyan insurtech startup, Lami acquires Bluewave, now in Malawi and DRC, targets the rest of Africa

Kenyan insurtech startup, Lami acquires Bluewave, now in Malawi and DRC, targets the rest of Africa

Kenyan insurtech startup Lami Technologies has announced its acquisition of Bluewave Insurance Agency. This Kenyan-based insurtech startup leverages mobile technology to reach the underserved population for an undisclosed amount. It seeks to make insurance covers accessible and affordable for more people across the African continent. This acquisition is a plus

Opay wins the best Point-Of-Sale Payment Service Provider Award from The Global Economics institution

Opay wins the best Point-Of-Sale Payment Service Provider Award from The Global Economics institution

Frontier fintech platform Opay, recognized as a mobile payment and collection service platform for Egypt and Africa, has won the ‘Best New Point-Of-Sale Payment Service Provider’ award from ‘The Global Economics’ institution. Mr. Mahmoud Khedr received the award, the company’s Director of Business Development and Strategic Partnerships, at the

Nigerian Insurtech, Casava raises $4M pre-seed funding to make insurance affordable and accessible for Nigerians

Nigerian Insurtech, Casava raises $4M pre-seed funding to make insurance affordable and accessible for Nigerians

Casava, a Nigerian digital insurance company has today raised $4 million pre-seed round. This funding is the largest pre-seed for an African insurtech company and the second largest for a Nigerian startup after Nestcoin whose round was declared only yesterday. The pre seed round was led by a Berlin-based Target