The Latest from Tage Kene-Okafor
Founders Factory Africa partners with Small Foundation to invest in 18 agritech startups
Johannesburg-based investment company Founders Factory Africa (FFA) today announced a partnership with Small Foundation that will see it select 18 agritech startups for an acceleration and incubation
Nigerian fintech Okra raises $3.5M backed by Accenture Ventures and Susa Ventures
The last five years have seen a plethora of fintech applications in Nigeria (and Africa, in general) grow at an astonishing rate. But most of these companies and developers find it difficult to access
Andela begins global expansion in 37 countries months after going remote across Africa
More than a year after the pandemic began, remote work shows no signs of going away. While it has its cons, it remains top of mind for potential employees around the world before joining a new company
Japanese VC Samurai Incubate closes $18.6M fund for African startups
Samurai Incubate, a Tokyo-based venture capital firm, announced today it has closed its “Samurai Africa 2nd General Partnership” fund, totalling 2.026 billion yen (~$18.6 million). Accordi
South Africa’s Quro Medical comes out of stealth with $1.1M to expand its hospital-at-home service
For a continent with such stark inequality, Africa has seen limited innovation to increase access to healthcare and reduce healthcare delivery costs. Over the years, there has been continued investmen
Why South Africa-based car subscription company Planet42 is going carbon neutral
Since ride-hailing companies like Uber and Bolt disrupted the transportation industry, one of the thorns in their sides has been traffic congestion and pollution. Research has shown that trips from ri
MFS Africa leads $2.3M seed round in Ugandan fintech startup Numida
Small businesses in Africa need digital banking services, including plenty of credit. Although these businesses drive economic growth and contribute up to one-third of the continent’s GDP, they are
African crypto usage spurs Luno as customers reach 7M
The crypto industry as a whole has seen a momentous year of growth, heavily spurred on by the entrance of institutional investors adopting bitcoin due to its store of value properties. The 2020 spike
Twitter to set up its first African presence in Ghana
Twitter CEO Jack Dorsey, via a tweet, announced that the company would be setting up a presence in Africa. “Twitter is now present on the continent. Thank you, Ghana and Nana Akufo-Addo,” he said.
Nigerian fintech Appzone raises $10M for expansion and proprietary technology
Africa’s fintech space has gained proper attention over the past few years in investments but it is not news that startups still battle with offering high-quality products. However, they seem to
Nigeria’s SEC warns investment platforms to stop trading ‘unregistered’ foreign securities
In a circular released by Nigeria’s capital market regulator SEC today, investment platforms providing access to foreign securities might be treading on dangerous grounds. According to the SEC r
Egypt’s Paymob closes $18.5M Series A to expand payments services across MENA
While Nigeria and Kenya have been at the forefront of African fintech innovation, activities in Egypt are beginning to shape up nicely. Right now, Egypt is home to a burgeoning fintech startup ecosyst
After its first $54M fund, Algebra Ventures launches $90M fund for startups in Egypt
The venture capital scene in the North African tech ecosystem will be absolutely buzzing right now with the announcement of two large VC funds in the space of two days. Today, Algebra Ventures, an Egy
Egyptian VC firm Sawari Ventures finally closes $71M fund for North African startups
Egyptian-based VC firm Sawari Ventures has closed its $71 million fund for North Africa’s rapidly growing startup ecosystem. The firm first announced its fund in 2018, when it closed an initial
Airtel Africa receives $100M for its mobile money business from Mastercard
Two weeks ago, TPG’s Rise Fund invested $200 million in Airtel Mobile Commerce BV (AMC BV) — the mobile money business of telecom Airtel Africa. After closing the deal, the Bharti Airtel s
Accel-backed mobile money platform NALA to start offering remittance services to East Africa
According to a McKinsey report, the total number of mobile money services worldwide was 282 in 2017, with more than half of those operating in sub-Saharan Africa. In 2020, these numbers increased si
Uganda’s Tugende closes $3.6M Series A extension to meet the demand for its asset finance products
Ugandan technology-enabled asset finance company Tugende today announced that it has closed $3.6 million in a Series A extension round. The investment, which, according to the company, was agreed on a
African talent recruitment company TalentQL joins Techstars to further global ambition
African-focused talent recruitment and outsourcing company TalentQL today announced that it has been accepted into Techstars Toronto. The company will join nine other startups in the acceleratorR
DiDi Chuxing expands to South Africa, to take on Bolt and Uber
Chinese ride-hailing company DiDi Chuxing has started operations in South Africa today, according to Reuters. Founded in 2012, the Beijing based company operates in more than 400 cities in China. It c
Nigerian fintech of the unbanked Bankly raises $2M led by Vault
Nigeria remains a largely cash-dominated country. There are more than 100 million adult Nigerians, of which more than half have little or no access to financial services. Today, Bankly, a Nigerian f