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Benjamindada
Oct 4, 2023
Stears Shifts Focus from B2C to B2B, Launches Intelligence Solutions for Businesses
Pan-African data and intelligence company, Stears today announced its transition from B2C to B2B. The company has also launched intelligence solutions for businesses and professionals.
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Benjamindada
Sep 29, 2023
Techstars Toronto's Investment Portfolio in Africa Grows to 40%
Since its launch in 2017, Techstars Toronto today announced that it has made its 100th investment into startups across the world; 40% of these startups are from Africa.
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Benjamindada
Sep 29, 2023
South African Insurtech Startup, Root, Secures $1.5M for UK and European Expansion 🇿🇦
South African insurtech startup, Root has secured $1.5 million in funding to expedite its expansion initiatives, building upon its success in its home market and beyond.
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Benjamindada
Sep 28, 2023
🚨 Twiga Foods Faces Liquidation Threat Over Unpaid $263,691 Debt - Kenyan Agritech in Trouble
Kenyan Google Premier partner, Incentro Africa has filed insolvency against Twiga Foods for its failure to remit KES 39 million ($263,691) as payment for Google Cloud Services and Partner Service Funds that it provided.
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Benjamindada
Sep 27, 2023
Biden Appoints Chipper CEO to Advisory Council for African Diaspora Engagement 🇺🇸 🤝🏼🌍
Ham Serunjogi, co-founder and CEO of Chipper Cash has been appointed as an inaugural member of the US advisory council on African diaspora engagement.
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Benjamindada
Sep 27, 2023
Nigerian Fintech Risevest Acquires Chaka, Enhancing Investment Opportunities 🤝🏼
Nigerian wealth management platform, Risevest has acquired Chaka in an undisclosed deal. Both companies will continue to operate as different products, according to the deal terms.
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Benjamindada
Sep 26, 2023
Sub-Saharan Africa's Top 10 Remittance Recipients in 2022: Vital Financial Support Amidst Challenges
According to the World Bank, Nigeria accounted for the highest remittance flow into Sub-Saharan Africa in 2022.
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Benjamindada
Sep 23, 2023
Microsoft-backed FAST Accelerator Selects 12 African Startups for AI Program 🌍
Out of the 12 startups in the FA23 cohort, nine are Nigerian, and one each from Kenya, Tanzania, and Ghana. Also, fintech startups dominated the cohort.
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Benjamindada
Sep 21, 2023
7 Game-Changing Platforms Fueling Africa's Creative Renaissance
🌍 Africa's creative economy, generating $5 billion in GDP and employing 5 million people, is thriving. These seven platforms are driving transformative change across various creative sectors.
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Benjamindada
Sep 21, 2023
Ebanx Expands into 8 African Countries 🌍
EBANX has expanded into eight African countries: Ivory Coast, Egypt, Ghana, Morocco, Senegal, Tanzania, Uganda, and Zambia. The LatAm fintech unicorn is now present in eleven African markets.
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Benjamindada
Sep 20, 2023
Bolt Accelerator Program Supports Nigerian Drivers 🚗 🇳🇬
Leading ride-hailing company, Bolt has introduced its Accelerator Program in collaboration with the Nest Innovation Park ('the Nest'). This program is designed to provide support and opportunities for drivers on their entrepreneurial journey, with a specific focus on sustainable transport solutions.
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Benjamindada
Sep 19, 2023
Turaco Acquires MicroEnsure Ghana to Expand Affordable Insurance Coverage Across Africa 🇬🇭
Turaco, Africa’s leading tech-enabled affordable insurance company, today announced the acquisition of MicroEnsure Ghana, a pioneering microinsurance company from MIC Global. Under the deal, MicroEnsure will rebrand as Turaco Ghana and retain the expertise of the existing team and leadership. The acquisition is part of Turaco’s long-term vision to provide simple and accessible insurance to 1 billion people.
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Benjamindada
Sep 18, 2023
Nollywood Icon Richard Mofe-Damijo Joins Anakle Films for $1M+ Netflix Thriller 'The Black Book 🎬 📺
Anakle Films is set to release Nigeria’s biggest-budget film to date, with the release of The Black Book, debuting on Netflix on 22nd September. The film, with a budget exceeding $1 million, features an ensemble cast of Africa’s most well-known actors, including Richard Mofe-Damijo, Alex Usifo, Sam Dede, Taiwo Ajayi-Lycett, Denola Grey, Shaffy Bello and Ireti Doyle.
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Benjamindada
Sep 17, 2023
Kenya's President William Ruto Woos Tech Investors in Silicon Valley: What You Need to Know 🇰🇪
On Friday, Kenya's president, William Ruto was at Silicon Valley in San Francisco to woo American tech investors and companies to invest in the East African country, as part of the US-Kenya Business Roadshow.
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Benjamindada
Sep 14, 2023
Flutterwave's Graduate Trainee Program Yields 85% Full-Time Hires Amidst Tough Job Market
Amidst global layoffs and rising unemployment, Flutterwave has hired 85% of its 200 graduate trainees as full-time employees, after a 12-month-long paid traineeship. A year after Flutterwave launched its Graduate Trainee Program, the African fintech unicorn has hired about 85% of the 200 graduate trainees that participated in the inaugural cohort of the programme.
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Benjamindada
Sep 14, 2023
Namibia's Internet Evolution: Assessing the Path Forward 🇳🇦
Recently, Namibia's Ministry of Information and Communication Technology (MICT) together with UNESCO and the Internet Scientific Society, held consultative meetings to assess how best to develop policies and create practical initiatives enabling Namibia to improve its internet ecosystem.
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Benjamindada
Sep 14, 2023
WhoGoHost Acquires SendChamp to Expand Digital Services for African Businesses
West Africa’s largest cloud infrastructure company, WhoGoHost, has acquired SendChamp, a Nigerian cloud communications startup that powers online messaging for African businesses for an undisclosed amount.
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Benjamindada
Sep 13, 2023
Yellowcard and Moonpay Partner to Enhance Crypto Accessibility in Nigeria 🤝🏽 🇳🇬
In a move to boost accessibility of cryptocurrencies, Yellowcard, one of the largest cryptocurrency exchanges in Africa had partnered with Moonpay, a global leader in cryptocurrency space. The partnership aims to enable African peer to peer trading of cryptocurrencies through bank transfers.
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Benjamindada
Sep 12, 2023
WhatsApp and NBA Star Giannis Team Up to Provide Mother-Tongue E-Books for Nigerian Kids 📖🇳🇬
WhatsApp has partnered with NBA Star Giannis Antetokounmpo to make a meaningful impact in Nigeria's education landscape. A staggering 75% of Nigerian children aged seven to 14 cannot read a simple sentence or solve basic math problems. To address this issue, WhatsApp and Giannis are collaborating with NABU, a digital publisher, to offer free children's eBooks in local Nigerian languages, starting with Igbo.
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Benjamindada
Sep 12, 2023
7 Pioneering Angel Networks Fueling Africa's Startup Revolution
Angel Investment in Africa has recently grown rapidly alongside the development of the tech ecosystems, which have greatly increased the number of investable opportunities.
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Benjamindada
Sep 12, 2023
Smile ID Introduces Smile Links: A No-Code Gamechanger for Swift Identity Verification
Smile ID, a leading provider of biometric identity verification solutions, has today announced the launch of Smile Links—a no-code solution that lets businesses verify customers faster.
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Benjamindada
Sep 11, 2023
Empowering Innovation: 61 Female-Led Tech Startups Reshaping Nigeria's Future
Nigeria's tech landscape has seen remarkable growth in recent years, with an impressive cohort of female-led startups making waves in various sectors. These women entrepreneurs are driving innovation, creating jobs, and contributing significantly to the nation's economic development.
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Benjamindada
Sep 11, 2023
Interswitch Partners with Google Pay to Boost Nigerian Payment Gateway 🇳🇬
Interswitch has announced today that it will support Google Pay on its payment gateway. This will allow merchants to store payment details within Google Wallet.
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Benjamindada
Sep 8, 2023
InstaDeep Expands AI Research with New Office in Rwanda 🇷🇼
Tunisian-born and London-headquartered AI startup, InstaDeep says it plans to launch an office in Kigali, the capital city of Rwanda. Karim Beguir, InstaDeep CEO disclosed this yesterday at Deep Learning Indaba, the annual meeting of the African machine learning and artificial intelligence community with the mission to strengthen African AI.
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Benjamindada
Sep 7, 2023
34 Influential Female Angel and Venture Capital Investors Shaping Africa's Tech Ecosystem
In a transformative era for technology and economic growth in Africa, women are taking the lead in the investment landscape. This list introduces you to 34 remarkable female angel and venture capital investors who are driving innovation, change, and gender equality across the continent's tech ecosystem. From Nigeria and Kenya to emerging hubs like Cameroon and the Democratic Republic of Congo, these women are champions of innovative startups and vital contributors to Africa's digital tech boom.
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Benjamindada
Sep 5, 2023
Catalyst fund close $40M fund to propel climate innovation in Africa
Today, the Catalyst Fund, a pioneering pre-seed venture capital fund and accelerator focused on driving climate resilience innovation in Africa, proudly announces the successful first closing with over 20% of its targeted US$40 million fund closed.
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Benjamindada
Sep 4, 2023
Okra Solar raises $12M to power mesh-grid electrification in Africa ⚡⚡
Cleantech startup, Okra Solar has raised a $12 million Series A to enable mesh-grid electrification in Africa. Over 700 million people worldwide still live without access to electricity, and with status quo efforts this number will increase by 2030. This challenge presents an opportunity for mesh grids, a technology that has rapidly established itself as a game-changer in this industry.
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Benjamindada
Sep 4, 2023
Wasoko expands to the Democratic Republic of Congo 🇨🇩
Africa’s largest B2B e-commerce network launches cross-border operations into DRC leveraging its existing e-commerce hub in neighbouring Rwanda. Wasoko, the African e-commerce company using innovative technology to transform the informal retail supply chain, has today announced its expansion into the Democratic Republic of Congo (DRC) leveraging its existing ecommerce hub in neighbouring Rwanda.
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Benjamindada
Sep 4, 2023
AltSchool Africa launches new schools to upskill Africans in creative and business industries
Skill-to-market platform AltSchool Africa, has expanded its learning faculty to introduce Creative Economy, and Business schools, following an impressive 40% completion rate in its first year.
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Benjamindada
Sep 4, 2023
Understanding embedded finance: Introducing SeerBit Alpha
Globally, the embedded finance sector is expected to be worth $7.2tn by 2030, with revenues reaching $121bn by 2029 in the UK and Europe, a 187% increase from 2022. In Nigeria, the market value of embedded finance is predicted to be over $8 billion by 2029.
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Benjamindada
Sep 1, 2023
Kenyan blockchain experts are challenging the legality of the crypto tax 🇰🇪 ₿
The Blockchain Association of Kenya (BAK) has filed a petition to challenge the legality of Digital Asset Tax (DAT) which is meant to commence today, September 1. “The core focus of the petition is to thoroughly examine the legal and constitutional dimensions surrounding the imposition of this tax on digital assets,” says S.A Kakai, BAK's legal and policy director. According to Kakai, the association will appear in court on September 28, for the “mention of our interim application”.
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Benjamindada
Aug 31, 2023
Ugandan mobility fintech, Asaak acquires FlexClub, expands to Latin America 🇺🇬 🤝🏼 🇲🇽
Asaak has acquired FlexClub Mexico, as part of its expansion into Latin America. The undisclosed acquisition does not include FlexClub South Africa. Four years ago, Asaak launched in Uganda to provide motorbike financing to operators, who are often locked out by formal banking institutions due to stringent security requirements comprising income history and regular account activity.
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Benjamindada
Aug 31, 2023
Anonymous Sudan hacked X because they want Starlink in Sudan 👨🏿💻☠️
Sudanese hacktivist group known as Anonymous Sudan said it is responsible for the outage that affected X (formerly Twitter) on Tuesday. Downdetector, a website that tracks problems with online services, reported over 2,700 incidents in the UK and thousands more in the US. The downtime lasted for more than two hours.
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Benjamindada
Aug 31, 2023
India wants to expand its Unified Payments Interface to Africa 🇮🇳
The Indian government is planning to expand its Unified Payments Interface (UPI) in Africa through commercial partnerships between payments platforms. According to Mint, an Indian business publication, the government is in talks with "several African countries", including Namibia, Mozambique and Kenya.
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Benjamindada
Aug 30, 2023
Nine fastest-growing Kenyan tech companies in 2023, according to FT 🇰🇪
Kenya has emerged as one of Africa's leading startup nations, being ranked number one in East Africa and 62nd globally. One key factor enabling this success is the increasing access to VC funding, which is the lifeblood of growth. Despite the market reset that saw a downturn in the inflow of investment into the continent, Kenya's startup scene has continued to progress.
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Benjamindada
Aug 29, 2023
What we know about the Meta Creator Lab Live for Nigerian creators 🇳🇬
Last Friday, over 40 young and aspiring Nigerian creators gathered at the Meta office in Lagos for the Creator Lab Live, an educational event that provides an opportunity for creators to learn from experts and collaborate.
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Benjamindada
Aug 28, 2023
Meet the African startups competing at TechCrunch's 2023 Startup Battlefield 200 🇳🇬 🇬🇭 🇹🇿 🇰🇪 🇺🇬 🇿🇦
The startups cut across Cleantech, SaaS, Fintech, Fintech, HealthTech, AI/Machine Learning, Security and Privacy and Cleantech. The startups were from Nigeria, Ghana, Tanzania, Kenya, Uganda and South Africa.
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Benjamindada
Aug 25, 2023
In Africa, AI is enabling experts to detect medical anomalies in baby cries 👶🏿
Experts believe that the sounds of the cries of babies can provide various health-related information, this initiative is building a platform for early screening and monitoring of a range of neurological and respiratory conditions affecting infants.
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Benjamindada
Aug 24, 2023
LemFi raises $33 million Series A for global expansion 🚀🚀
Global payments company, LemFi (formerly Lemonade Finance) has secured a $33 million Series A in a round led by Left Lane Capital. Each year, millions of immigrants move abroad to start new lives, and the biggest hurdle they face is access to financial services.
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Benjamindada
Aug 23, 2023
Google expands “AI First” accelerator to Africa
Google has launched its “AI First” accelerator program in Africa to provide AI expertise, Cloud Platform resources, and networking opportunities to early and growth-stage startups on the continent. The 10-week equity-free accelerator program is focused on Africa-centered solutions with AI and machine learning and it is open to startups in Algeria, Botswana, Cameroon, Côte d’Ivoire, Egypt, Ethiopia, Ghana, Kenya, Morocco, Nigeria, Rwanda, Senegal, South Africa, Tanzania, Tunisia, Uganda, and Zimbabwe.
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Benjamindada
Aug 23, 2023
African fintech unicorn, Flutterwave resumes IPO talks
Flutterwave, the leading African fintech startup wants to continue with its initial public offering (IPO) plans that were stalled last year due to a myriad of scandals including insider trading, sexual allegations and regulatory challenges.
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Benjamindada
Aug 22, 2023
NALA enters Nigeria’s cross-border payment market 🇳🇬
Tanzanian fintech startup, NALA has launched payments from the UK and EU to Nigeria. Nigeria is the largest economic market in Africa. As of 2021, Nigeria’s GDP totalled $441 billion, placing it ahead of economies like Egypt and South Africa. Nigeria also has a robust migrant population, with almost 400,000 diasporans living in the United States and 200k living in the United Kingdom.
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Benjamindada
Aug 22, 2023
A deep dive into East Africa's digital burgeoning tech hub
East Africa is quickly becoming a centre of innovation and promise, with Kenya blazing the trail in the region startup landscape. Despite the global funding winter, Kenyan startup ecosystem witnessed 7% funding growth in Q2 2023 compared to Q1 2023. East Africa is quickly becoming a centre of innovation and promise, with Kenya blazing the trail in the region's startup landscape.
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Benjamindada
Aug 22, 2023
Africa's new hot startups: Camels or unicorns? 🦄 🆚 🐫
Unicorn startups are an alluring dream but three founders and two investors believe that Camels are a more realistic ambition for Africa's tech ecosystem. In the world of startups, there's been a relentless pursuit of unicorns—companies valued at over $1 billion. Unicorns, once rare, now number around 1,200 worldwide. But with recent challenges, including the impact of COVID-19 and a market reset in Africa that has stripped some startups of their unicorn status, the debate resurfaces: should African startups aim for unicorn status, or should they adopt a more sustainable approach akin to camels?
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Benjamindada
Aug 22, 2023
Payday lifts restriction on 60% of 2000 affected accounts, CEO says
Rwandan fintech startup, Payday said it has reversed restriction on 60% of the about 2000 accounts that were restricted for violating its terms of use. "This is two months since Payday restricted by account," a Payday user posted on August 16. After continued complaints by users on social media, the Rwandan fintech company issued a statement to "address claims of account restriction" on Monday.
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Benjamindada
Aug 21, 2023
How African startups can leverage startup advisors
Startup advisors possess specialised insights, experience, or training in specific industries. They apply this expertise to aid founders in navigating the complexities of building tech companies in Africa.
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Benjamindada
Aug 18, 2023
Meet the only African startup in Techstars New Orleans accelerator
The startups would participate in a 13 weeks hybrid programme that will take them from a kick-off retreat in New Orleans to TechCrunch Disrupt in San Francisco, and Afrotech in Austin. PipeOps, a DevOps as a Service web startup, has been admitted into Techstars’ latest accelerator programme, Techstars New Orleans, which is powered by popular investment company, J.P. Morgan.
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Benjamindada
Aug 17, 2023
Amazon launches the first non-US-based Skills Centre in South Africa 🇿🇦
Amazon has launched the first AWS Skills Centre based outside of the US, in South Africa, to deliver free training for learners in the region. Organizations identify skills gaps (60% of respondents) and an inability to attract talent (53%) as the key barriers preventing industry transformation, according to 2023 World Economic Forum “Future of Jobs” report.
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Benjamindada
Aug 16, 2023
African countries rank lowest on the AI readiness index globally 🧠
According to a report by Oxford Insights, African countries rank lowest on the AI readiness index globally. However, Mauritius, South Africa, and Seychelles are leading the drive. Despite the proliferation of artificial intelligence (AI) in Africa being on the rise with governments formulating national strategies to drive the adoption, the readiness of countries on the continent is below the global average.
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Benjamindada
Aug 16, 2023
Nigerian Government commends Google's ₦1.2 billion grant initiative 🇳🇬
The initiative, "Mind the gap,” will equip 20,000 Nigerian women and youth with vital digital skills. The Federal Government of Nigeria through, the Vice President, Kashim Shettima has praised Google's ₦1.2 billion grant initiative to train Nigerian youths with digital skills.
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Benjamindada
Aug 16, 2023
SeerBit unveils Alpha, to enable African businesses launch their own fintech solutions
SeerBit, a Pan-African payment solutions provider, has unveiled Alpha, a white-label product that makes it easier for financial institutions, travel and hospitality companies, online marketplaces and other businesses to drive growth and expedite the penetration of digital payments in Africa by seamlessly launching their own digital financial technology solutions.
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Benjamindada
Aug 14, 2023
Founders Factory Africa secures $144 million to back more early-stage startups 🚀🚀
Founders Factory Africa has secured an additional $114 million in funding to scale its hybrid investment model of combining capital and operational support in its investments across the continent.
The investment was made by the Mastercard Foundation and Johnson & Johnson Impact Ventures, an impact fund within the Johnson & Johnson Foundation.
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Benjamindada
Aug 11, 2023
Nigerian artistes’ revenue on Spotify grew by 74% in 2022, raking over ₦11 billion 🇳🇬 🎶💲💲
Last year, Nigerian artistes generated over ₦11 billion on Spotify, recording a 74% increase from the previous year, according to a report released by the global streaming company on its Afrobeats website. This revenue is higher than the 64% revenue growth the entire Nigerian music industry recorded in the same year.
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Benjamindada
Aug 9, 2023
Spotify introduces its AI DJ feature in 18 African countries 🧠 🎛️ 🎶
Spotify has announced the roll out of its AI feature 'DJ' to its premium subscribers in 18 African countries including Nigeria, South Africa and Ghana, six months after launching the feature in North America.
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Benjamindada
Aug 9, 2023
Five African fellowship programs for aspiring VCs
If you are an African graduate, professional and entrepreneur trying to get into venture capital, here are five African VC fellowships you should consider joining. Venture capital is a field of business that provides capital to startup companies and small businesses. Venture capitalists (VCs) invest in these businesses in the hopes of achieving a large return on their investment down the road.
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Benjamindada
Aug 8, 2023
11 startups transforming commerce in North Africa
North Africa is entering a phase of maturity, and fueled by a digitally adept consumer demographic showing a strong inclination towards online retail, the e-commerce sector is poised for a surge across the region.
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Benjamindada
Aug 8, 2023
Understanding user onboarding and fraud in Africa
A deep dive into the state of KYC: user onboarding and fraud in Africa. Mark Straub, CEO of Smile ID and Wiza Jalakasi, Director of Ebanx Africa Market Development share insights.
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Benjamindada
Aug 7, 2023
African startups raised $123.4 million in July 2023
African startups witnessed a sharp 46.5% decrease in funds raised this July compared to July 2022. Cleantech remained dominant, securing 32.8% of the continent's total funds.
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Benjamindada
Aug 7, 2023
Glovo and Chowdeck named as delivery partners to West Africa's largest QSR chain
West Africa's largest quick service restaurant (QSR) chain Chicken Republic has announced Glovo and Chowdeck as its delivery partners in the country.
“As a customer-focused brand, it is crucial for us to align with partners who prioritise the customer at the core of their operations, particularly in addressing the last mile challenge. This partnership holds significant importance as we join forces with a proudly Nigerian brand to tackle this issue,” says Kofi Abunu, Managing Director of Food Concepts Plc, Chicken Republic's parent.
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Benjamindada
Aug 4, 2023
Big Cabal Media cuts 19% of its workforce, cites “harsh market conditions”
Big Cabal Media (BCM), the parent of TechCabal, Zikoko and Citizen, has laid off 19% of its workforce due to “harsh market conditions”. “This is a challenging decision in a year that has tested us immeasurably, and we empathise with the talented employees affected by this decision. For those leaving, we appreciate the hours and backbreaking work you’ve put in to move our mission forward,” the company said in an internal memo to employees on Friday, August 4.
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Benjamindada
Aug 4, 2023
Will Africa produce the next DoorDash for Y Combinator?
Since 2021, Y Combinator has backed at least eight African food delivery startup, especially in the most recent cohorts. Is YC's bet geared towards producing the next DoorDash? Around this time in 2013, DoorDash, a San Francisco-based food delivery startup got into the Y Combinator summer batch. Five years down the line, DoorDash raised $535 million Series D at a $1.4 billion valuation, becoming a unicorn.
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Benjamindada
Aug 4, 2023
An iris scan for $54: Inside the Worldcoin controversy in Kenya
News of a new cryptocurrency launch does not spark the kind of interest it used to at the height of the cryptocurrency boom in 2021. Following such high profile failures, like last year's FTX collapse, only the die-hard adherents seemed to know what new innovation was happening in that corner of global finance.
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Benjamindada
Aug 3, 2023
South African venture capital firm, REdimension raises more than $10 million for proptech fund 🇿🇦
REdimension Capital, a South African real estate venture capital firm, has announced the first close of its inaugural fund, the REdimension Real Estate Technology and Sustainability Fund I. The fund will focus on investing in early-stage innovative technology companies that deliver demonstrable improvements in the way property is developed, managed and engaged with.
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Benjamindada
Aug 3, 2023
How rising cost of fuel is affecting the logistics sector in Nigeria ⛽
Since when Nigeria's President, Bola Ahmed Tinubu declared that “the fuel subsidy is gone” during his inauguration speech in May, the cost of fuel across the country has remained on the increase, almost more than double of the initial cost.
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Benjamindada
Aug 2, 2023
Flutterwave rebrands Send App, expands remittance to U.S. and Canada
Flutterwave, Africa’s leading payments' technology company, today announced the enhancement of its $end Mobile product, to Send App by Flutterwave. The app will facilitate affordable money transfers from people in the diaspora to their families, friends, and loved ones in Africa.
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Benjamindada
Aug 1, 2023
WAJIC23: Experts advocate for ethical use of artificial intelligence in African newsrooms
“The intersection of tech and journalism lies in the comprehending of current events. Embracing a tech agenda within newsrooms has become essential,” Richard Gevers, founder of Open Cities Lab said during the just concluded West Africa Journalism Innovation Conference (WAJIC).
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Benjamindada
Aug 1, 2023
12 African startups to watch out for in H2 2023, according to investors
African startups have been steadily making their mark in the tech ecosystem, attracting the attention of investors with their innovative solutions and disruptive potential. From fintech to healthtech, these startups have shown immense promise and are becoming increasingly sought after by venture capitalists. With funding pouring into the continent's tech scene, it's no surprise that investors are closely watching the rise of African startups.
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Benjamindada
Aug 1, 2023
"Binance operations in Nigeria are illegal," SEC reiterates
Over a month after its circular banning the operations of Binance, the Securities and Exchange Commission (SEC) on Friday reiterated that the operations of the global crypto exchange are illegal in Nigeria.
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Benjamindada
Jul 31, 2023
10 places African startups can incorporate for favorable policies and funding opportunities
In recent years, the global startup landscape has seen a significant rise in African tech entrepreneurs seeking to establish their parent companies in foreign jurisdictions. This strategic move allows them to access various benefits, including favorable government policies, tax incentives, access to funding, and a thriving tech ecosystem.
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Benjamindada
Jul 28, 2023
6 African countries imposed internet restrictions in the first half of 2023 👩🏽💻 🛑
“Today, billions of people are subjected to internet restrictions, which continue to increase at an alarming rate. Internet restrictions often happen in times of political unrest, such as protests, controversial elections, or even military action—which is when people need to be connected to one another the most,” says Gabriele Racaityte-Krasauske, Surfshark spokeswoman.
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Benjamindada
Jul 28, 2023
How startups can leverage AI to transform education in Africa 🧠🎓
A technological wave is sweeping through Africa's education landscape with Artificial Intelligence (AI) leading the charge. The increasing demand for personalized learning and remote education has driven African startups to harness the immense potential of AI, propelling their educational solutions toward a brighter future.
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Benjamindada
Jul 27, 2023
Kenya and Nigeria named as the highest-risk African countries for fraud, according to Smile ID report
Smile ID (formerly Smile Identity), Africa's leading identity verification and onboarding service provider with 75 million KYC checks done since inception, has released its third report on the State of KYC and Digital ID trends in Africa.
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Benjamindada
Jul 27, 2023
Nigeria trails South Africa and Kenya in Africa’s B2B payment revolution — Report
Kenya leads the way in payment automation, with 83.4% of Kenyans stating that their payment system was either semi-automated or fully automated, compared to Nigeria (79.9%), South Africa (71.69%) and Ghana (67.23%).
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Benjamindada
Jul 26, 2023
CBN lifts ban on abokiFX, Bamboo, Risevest and 437 bank accounts 🇳🇬 🏛️
The Central Bank of Nigeria has directed banks to vacate a post-no-debit restriction placed on the bank accounts of 440 individuals and companies.
A post-no-debit means that all debit transactions, including ATMs and cheques, on the accounts have been blocked but can receive inflows.
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Benjamindada
Jul 25, 2023
Clafiya raises $610,000 in pre-seed to reimagine healthcare service delivery in Africa ⚕️ 🚀
Clafiya, an African healthtech company, announced its $610,000 pre-seed raise today. The oversubscribed round saw participation from Norrsken Accelerator, Acquired Wisdom Fund (AWF), Hustle Fund, Voltron Capital, Microtraction, Ajim Capital, HoaQ, Bold Angel Fund, Shivdasani Family and other angel investors.
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Benjamindada
Jul 24, 2023
How does remote work affect African tech workers? 👩🏾💻
In 2023, a staggering 98% of remote workers express a preference for lifelong remote work, citing flexibility as a primary advantage. However, this work arrangement presents challenges, notably isolation and work-life balance issues..
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Benjamindada
Jul 24, 2023
Changera integrates with MoneyGram to enable users to cash-in and cash-out currencies globally on the Stellar Network 🤝🏽 💱
Fast-growing cross-border payments startup Changera, has joined forces with MoneyGram, a global leader in the evolution of digital P2P payments and the open-source Stellar network, to enable cash-to-crypto deposits and withdrawals for customers globally.
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Benjamindada
Jul 21, 2023
Rwandan digital retail startup Kasha raises $21 million Series B 🇷🇼
Kasha, a Rwandan digital retail startup has closed a $21 million Series B round from Knife Capital, a South African venture capital firm. Other investors in the round include Finnfund, Development Finance Corporation (DFC), Tim Koogle, the former CEO of Yahoo, Beyond Capital Ventures, Altree Capital, Bamboo Capital’s BLOC Smart Africa Fund, and Five35 Ventures.
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Benjamindada
Jul 21, 2023
Inside Nigeria and Egypt's fintech alliance to deepen cross-border regulations 🇳🇬 🤝🏽 🇪🇬
The Central Bank of Nigeria (CBN) has signed a fintech collaboration agreement with the Central Bank of Egypt (CBE) to double down on cross-border regulations and information sharing to drive innovation in both nations.
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Benjamindada
Jul 20, 2023
The African gaming market will be worth $1 billion by 2024 🎮🕹️👾
By 2024, African gaming is projected to be worth about $1 billion, according to data from research firm Newzoo. In 2022, games sold in the region generated $862.8 million in revenue, up 8.7% YoY. New data released from Newzoo, the leading provider of games market data and insights, and Carry1st, Africa’s leading publisher of games and digital content, reveals that the African gaming market is set for continued growth, driven by increased mobile gaming revenues.
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Benjamindada
Jul 20, 2023
How Nigeria’s $428 million ICT backbone project is enabling rural financial inclusion 🇳🇬
In rural communities across Nigeria, the Nigeria National Information and Communication Technology Infrastructure Backbone (NICTIB) Project is driving financial inclusion due to increased broadband penetration but continued inter-bank transfer failure remains a challenge.
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Benjamindada
Jul 20, 2023
Is debt financing ideal for African startups in a funding winter?
African startups secured $1.5B in debt financing in 2022, marking a staggering 160% YoY growth amid a funding winter. Yet, with rising global interest rates and currency depreciation concerns, viability remains a crucial question.
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Benjamindada
Jul 19, 2023
Pan-African KYC provider, Smile Identity rebrands to Smile ID
Smile Identity, Africa's leading identity verification and digital KYC provider, has announced its rebranding to Smile ID. The rebrand includes four new things: a new name (Smile ID), a new logo, a refreshed website and new product updates.
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Benjamindada
Jul 19, 2023
Starlink launches in Kenya as Safaricom gears up for competition 🛰️📡🇰🇪
Starlink has officially launched its operations in Kenya. "Starlink for sale in Kenya! Note, buying a Starlink with global roaming allows you to travel almost anywhere," Elon Musk, the founder of the satellite internet provider tweeted on Tuesday.
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Benjamindada
Jul 18, 2023
South Africa launches Artificial Intelligence Industry Association 🇿🇦 🧠
This Wednesday, The South African Artificial Intelligence Association, an industry body focused on promoting the advancement of responsible AI in South Africa, will officially be launched in partnership with the Tshwane University of Technology.
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Benjamindada
Jul 17, 2023
What is the impact of "the great market reset" on African startups?
VC investments in African tech dropped by 48% in the first half of 2023, we talk to Victor Asemota, an African tech entrepreneur on how this is affecting the ecosystem.
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Benjamindada
Jul 15, 2023
Six FinTech accelerators for African startups 🚀🚀
Visa Africa FinTech Accelerator, Bank of America Breakthrough Lab, Google Black Founders Fund, African FinTech Foundry, ARM Labs Techstars Lagos Program, AWS FinTech Africa Accelerator.
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Benjamindada
Jul 13, 2023
Kenya withdraws 30% shareholding rule for Big Tech
The Kenyan government has reversed its 30% shareholding rule that was imposed on Big Tech and other multinational companies in the country. Starting June 2016, foreign companies registering in Kenya were required to cede at least 30% of their shareholding to persons who are Kenyan citizens by birth.
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Benjamindada
Jul 13, 2023
Flutterwave is partnering with IATA to facilitate flight payments in sub-Saharan Africa 🤝🏽 ✈️
Pan-African fintech Flutterwave is now on the International Air Transport Association's (IATA) payment orchestration platform. With this integration, airlines across the world are able to process payment from customers through cards, bank transfer, mobile money, alternative payment methods and other payment modes available on Flutterwave.
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Benjamindada
Jul 13, 2023
Uganda to impose 5% tax on non-resident digital companies 🇺🇬
On Tuesday, the Ugandan Parliament amended its Income Tax Act to include tax from non-resident digital service providers like Meta, Google, Amazon and other big tech companies operating in the country.
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Benjamindada
Jul 11, 2023
Flutterwave launches Tuition, to capitalise on the FX demand for school fee payments 👩🏽🎓
Flutterwave has launched Tuition to allow African users to pay various fees to educational institutions within Africa and overseas using their local currencies. More than 43,000 African students came to the UK in 2022, the highest proportion of which were from Nigeria. So there is a growing trend towards African students wanting to gain higher education qualifications in the UK
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Benjamindada
Jul 6, 2023
Mobility fintech Moove raises $8 million to expand its fleet in Ghana 🇬🇭
Mobility fintech, Moove, has secured $8M in financing from Absa Corporate and Investment Banking (CIB), bringing its total funding to-date from the pan-African bank to $28M. This follows Moove’s $20M financing facility from Absa for its South Africa operations announced in June 2022.
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Benjamindada
Jul 6, 2023
Juliet Ehimuan: Twelve years of leading Google in West Africa
After 12 years of pioneering Google's growth in West Africa, Juliet Ehimuan has resigned to focus on providing mentorship and funding for young African tech entrepreneurs. In this article, we reflect on her time at Google and what's next.
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Benjamindada
Jul 5, 2023
At least five African tech startups shuttered in H1 2023 🛑 📉
At the end of the first six months of this year, VC funding in the African tech ecosystem declined 48% compared to the corresponding period last year.
"The key thing is that our biggest funding source—which was US investors—are significantly impacted," According to Peter Oriaifo, Principal at Oui Capital. "This has been the case for well over a year now, and logically speaking, how can we expect funding to recover or buck global trends when we are reliant on capital from the west? Its never made any sense."
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Benjamindada
Jul 5, 2023
How Kyosk's acquisition of KwikBasket will transform the African fresh produce market 🥕🍓🍉
Kenyan retail distributor Kyosk has acquired KwikBasket, and has expanded its digital distribution offering to cover the fresh produce market in Africa.
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Benjamindada
Jul 4, 2023
Eden Care becomes first Rwandan company to join Y Combinator 🚀🇷🇼
Health-focused insurtech Eden Care is the first Rwandan company to join Y Combinator (YC). The company is participating in the on-going summer batch of the accelerator.
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Benjamindada
Jul 4, 2023
VC investments in African tech plunges 48% in H1 2023
Due to the continued global economic downturn, fundraising has become more challenging for African tech entrepreneurs. Despite the launch of several venture capital funds in the last six months, investors are still maintaining a strategic approach to funding.
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Benjamindada
Jul 3, 2023
DevCareer and UK-Nigeria Tech Hub announce partnership to digitally upskill 1700 Nigerians
DevCareer, a nonprofit organization focused on supporting young Africans looking to start a tech career, recently announced a partnership with the UK- Nigeria Tech Hub.
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Benjamindada
Jun 30, 2023
Zambian fintech Union54 rebounds with social commerce platform, ChitChat partnering with Mastercard
Union54, a leading provider of innovative digital financial solutions, and Mastercard, a global payments' technology company, have partnered to launch social commerce platform
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Benjamindada
Jun 29, 2023
Meet the 20 Ghanaian startups who graduated from UNICEF StartUp Lab Accelerator 🇬🇭
The UNICEF StartUp Lab is an accelerator program dedicated to support businesses working towards advancing the United Nations Sustainable Development Goals (SDGs) for children and young people.
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Benjamindada
Jun 27, 2023
Kenya, Nigeria, and South Africa are driving Africa’s Web3.0 adoption
Kenya, South Africa and Nigeria are driving the adoption of blockchain and Web 3.0 technologies on the continent, a new report says.
The report, State of Web 3.0 in Africa, by EMURGO Africa – a blockchain technology firm – and PwC was released today. The report casts a spotlight on the rise of blockchain investment within Africa.
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Benjamindada
Jun 23, 2023
Glade denies misleading $214,000 internal hack
Glade, a Nigerian based fintech startup, has strongly debunked the news making the rounds online that it suffered an internal hack of about $214,000.
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Benjamindada
Jun 22, 2023
Journey of a Billion Streams - Spotify launches dedicated site to house all things Afrobeats
Spotify has announced the launch of Afrobeats: Journey of a Billion Streams, a dedicated site that will track all things related to the genre. From its origins in Ghana, its popularisation in Nigeria, its fusion with other genres as well as how it has become one of the continent’s biggest cultural exports.
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Benjamindada
Jun 21, 2023
Klasha acquires MSB license to operate in Canada
With this license, Klasha can now provide financial services to businesses that want to accept payments from or send payments into Africa, in addition to foreign exchange transactions and payment processing.
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Benjamindada
Jun 21, 2023
Flutterwave partners with Audiomack to expand access and monetisation opportunities for African artists
The collaboration will enable Audiomack to provide premium music experiences and unlock new features for its customers and artists for a fee.
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Benjamindada
Jun 19, 2023
Airtel Nigeria launches 5G mobile network to intensify competition in the Nigerian telecoms market
Airtel Nigeria launches 5G today to intensify competition within the telecoms market, attract new customers, and improve Airtel’s market share.
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Benjamindada
Jun 17, 2023
Visa launches Africa fintech accelerator program
The Visa Africa Fintech Accelerator will empower up to 40 start-ups each year to accelerate and grow through a three-month intensive learning program focused on business growth and mentoring
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Benjamindada
Jun 15, 2023
Talstack launches with $850,000 pre-seed funding to upskill Africa’s workforce
Talstack launches to enable businesses upskill their employees with tools, content, courses, and insights from top African professionals and entrepreneurs.
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Benjamindada
Jun 13, 2023
Spotify reveals how Afrobeats is breaking ground in Asia and the Middle East
Afrobeats superstars are topping the streaming charts in the Middle East and North Africa region according to data from Spotify
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Benjamindada
Jun 8, 2023
UK fintech Unlimit makes its second African expansion, acquires Kenyan PSP licence
Two months after launching operations in Nigeria, UK fintech Unlimit has acquired a PSP licence in Kenya.
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Benjamindada
Jun 4, 2023
Sudan has imposed nine internet restrictions since 2021
Sudan and four other African countries broke a 2021 United Nations resolution aimed at curbing internet restrictions.