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Benjamindada

SecondSTAX, a technology company that is building solutions to enhance intra-Africa capital and investment flows has launched SecondSTAX Portal—a technology-driven order management and execution routing system for investment firms—in Kenya and Ghana.

SecondSTAX to enable investment in Nairobi Securities Exchange and Ghana Stock Exchange 🇰🇪 🇬🇭

The logistics industry is one of the most underrated sectors that has a major impact on the economy. Unless you are a direct player in the industry, you might be quick to discount the contributions of the industry until you have a product clogged up in some logistics inefficiencies.

Top tech-enabled logistics companies in Nigeria

YouTube has named 40 Black musicians across the world as part of its 2023 YouTube Black Voices Fund (YBVF). Out of these 40 voices, six are from Africa.

Meet the Africans in YouTube Black Voices Fund music class of 2023

The Central Bank of Kenya (CBK) has granted Paystack a Payment Service Provider licence to operate in Kenya. The Nigeria-founded fintech company has also launched its private beta in the country.

Paystack is now a licensed Payment Service Provider in Kenya

In 2021, Africa, Central Asia and the Middle East collectively received less than 2% of the $643 billion global venture capital funding.
To enable access to capital in these regions, International Finance Corporation (IFC) has launched a $225 million fund to invest in early-stage companies addressing development challenges through technological innovations in climate, health care, education, agriculture, e-commerce, and other sectors.

Inside IFC's $225M fund for early-stage startups in Africa, Central Asia and the Middle East

Leading technology companies have collectively launched “Ethereum Climate Platform” initiative to address Ethereum’s former proof of work carbon emissions

Inside the “Ethereum Climate Platform” launched at COP27 to address carbon emissions

Twiga Foods, a Kenyan business-to-business (B2B) food marketplace has downsized its workforce by 21%, laying off 211 of its full-time employees.
The dismissed staff are part of the company's in-house sales department, they now have the option to work for Twiga Foods as independent agents with pay based on sales and customer acquisitions.

Twiga Foods lays off 21% of its employees

The COVID-19 pandemic shifted the way we live and work. Millions of people across the globe were forced out of their offices to work from home. This phenomenon popularised the term – the digital nomad.

Eight global digital nomad visas Africans can explore

In August 2021, LoftyInc Capital Management, an early-stage African-focused venture capital firm, announced the launch of its third fund—LoftyInc Afropreneurs Fund 3 (LAF3)—at $10 million.

LoftyInc Capital closes third fund at $14.3 million

Ukheshe, a South African financial service enabler, and Coinvest have joined forces to assist students in South Africa with funds to obtain quality education.
Powered by leading fintech enablement partner Ukheshe, the payment solution leverages Ukheshe’s powerful Eclipse API to provide a ready-to-use payment technology services framework.

Ukheshe and Coinvest partner to provide financial aid for students in SA

Autochek, an automotive technology company making car ownership more accessible and affordable across Africa, has announced the launch of Autochek Financial Services, a new arm of the business that will focus on providing a range of vehicle financing solutions for consumers and businesses across the continent.

Autochek launches fintech arm to accelerate vehicle financing in Africa

One year after launching its Nigerian operations, South African on-demand home cleaning and services platform, SweepSouth has indefinitely paused its operations in the country and Kenya.

South African home cleaning company, SweepSouth pauses operations in Nigeria and Kenya

In July 2022, a Kenyan High Court froze the accounts of Nigerian fintech companies, Kora and Kandon Technologies Limited, for allegedly siphoning Sh6 billion (~$51 million) into the country. Lady Justice Esther Maina issued the orders in two separate suits filed by the Asset Recovery Agency (ARA).

Nigerian fintech startups, Kora and Kandon cleared of money laundering allegations in Kenya

Globally, small and medium enterprises (SMEs) account for 90% of businesses and 50% of employment, according to the World Bank. As of 2020, Nigeria's Small and Medium Enterprises Development Agency (SMEDAN) estimated that there are approximately 39.6 million MSMEs in Nigeria.

Pivo Africa secures $2M seed to expand into East Africa

Cloud-based points of sales are a fast-growing technology, the global market was valued at $72.28 billion in 2020 and is expected to reach $116.27 billion in 2026. Modelled after the US, market leaders, Toast —Orda is arguably the first bottom-up software provider for restaurants built by an African team. The startup’s cloud-based solution factors are peculiarities unique to the market; for instance, their ePos has the ability to operate in remote areas with little to no internet coverage.

Orda secures $3.4 million seed to digitise African restaurants

Nigerian crypto and web3 company, Lazerpay has joined the growing list of African startups that are downsizing their workforce following the ongoing economic downturn.

Lazerpay to layoff employees as its proposed seed fund's lead investor withdraws

Two years after operating in Nigeria, SafeBoda is exiting the market to double down on its largest market, Uganda. According to the company, its Nigerian operations was "unprofitable".

Why is SafeBoda leaving Nigeria?

By 2023, the Nigerian government will start the taxation of cryptocurrencies and other digital assets if the proposed Finance Bill 2022 is approved.
According to Zainab Ahmed, Nigeria's minister of finance, budget and national planning, the bill is designed to achieve five fundamental policy drivers—tax equity, climate change, job creation and economic growth, tax incentives' reform and revenue generation & tax administration.

Nigeria wants to tax the crypto transactions

With growing urbanisation across Africa, multi-property developments have emerged as the preferred mode of delivering residential and commercial real estate.
Of the 2.5 million households in Nigeria that earn more than $1,000 per month, 80% live in multi-property communities. 25% of their income is spent on rent and 50% is spent on other household needs, including consumables, utilities, internet data, cable TV and other services. This market for household spending represents a $22.5 billion opportunity in Nigeria and $100 billion across Africa.

VENCO secures $670k pre-seed to enable proptech in Africa

The Central Bank of Kenya (CBK) has announced the reintroduction of charges for transactions between mobile money wallets and bank accounts from January 2023.

Why Kenya is reintroducing MOMO and bank transactions charges

MEST Africa has announced Senegalese tech startup Kwely as the winner of the 2022 edition of the MEST Africa Challenge (MAC); a pan-African tech startup pitch competition.

Who won the 2022 MEST Africa challenge?

"Finally back in Ghana," Jack Dorsey, former Twitter CEO tweeted on Monday, December 5, 2022. Jack was in Ghana to attend the Africa ₿itcoin Conference.

Jack Dorsey is back in Africa, this time for Crypto

Female entrepreneurs, specifically in the tech space, continue to face daunting challenges such as restrictive social norms, limited access to funding, and working within male-dominated industries which limits their potential.

Five female-focused accelerator programs for African founders

The demand for home and office furniture is simultaneously increasing, with the increase in population, the hybrid work model and innovation hubs. In West Africa, local manufacturers account for more than 70% of the furniture market.

Taeillo secures a $2.5M expansion fund from Aruwa Capital

In October 2022, a global payment infrastructure company,  Fincra announced investments in the West Midlands through the Birmingham Tech Week— the most prominent regional tech festival in the United Kingdom (UK), spotlighting innovation and tech success stories from across the West Midlands, as well as opportunities for both domestic and international investors.

Fincra continues efforts to build a global payment Infrastructure with UK expansion

One year after pan-African VC firm, Ventures Platform closed the first round of its "$40 million pan-African found", the firm today announced the final close of the fund at $46 million—above its initial target.

Ventures Platform closes $46 million pan-African fund

In July 2022, Global digital payments company, Visa was one of the investors in Bloom—Sudan's first YC-backed startup—$6.5 million seed round. An investment which Ahmed Mohey, Visa's country manager for Sudan and Libya believe will "drive acceptance of digital payments while finding opportunities to launch new products and services to Sudanese customers and merchants".

Visa wants to invest $1 billion in Africa by 2027

Starting and running a startup in Nigeria today is no mean feat. While keeping the startup profitable, founders must also deal with salient issues such as legal compliance, workplace regulations and user satisfaction.

The top 10 Nigerian startups in 2022

The post-COVID era in 2021 was an exciting one for the African tech ecosystem, it was the year of unicorns—five startups got to the billion-dollar valuation mark. So far this year, no unicorn has been minted based on disclosed reports.

The six biggest African tech scandals of 2022

ARM Labs Lagos Techstars Accelerator has appointed Oyin Solebo as its pioneer managing director. Oyin Solebo is an entrepreneurial leader with an investment management background, an Executive MBA with distinction from London Business School, and an Economics degree from the London School of Economics.

ARM Labs Lagos Techstars Accelerator appoints Oyin Solebo as Managing Director

As of December 19, 2022, African startups have jointly raised $3.5 billion, per BD Funding Tracker. Although some of these startups have laid off some of their employees due to the economic downturn, previous reports have shown that the continent is battling a shortage of tech talents.

Edtech companies helping Africans to start a career in tech

In 2023, a global payments company, Visa will launch the Kenyan edition of Visa Everywhere Initiative (VEI) and She's Next—a women’s empowerment program.
VEI is an open innovation program that enables startups to unlock new opportunities and also gives them a global platform to demonstrate their ground-breaking solutions. Since its launch in 2015, almost 8,500 startups have participated in the initiative, and have collectively raised more than $16 billion in funding.

Visa Everywhere Initiative will launch in Kenya in 2023

n September 2022, the Lagos state government received the delivery of two TALGO Serie 8 trains for the Lagos rail mass transit—a rapid transit system that will cater for transportation in the commercial city.

The Lagos intra-city rail system will be powered by e-payment

In September 2022, the Lagos state government received the delivery of two TALGO Serie 8 trains for the Lagos rail mass transit—a rapid transit system that will cater for transportation in the commercial city.

Cowry Card set to power payments for Lagos' intra-city railways

Six Africa-focused investors predict possible trends in the African tech ecosystem in 2023.

9 trends that could impact the African tech ecosystem in 2023

Raising venture capital as a startup founder is a sure claim to fame. Once you do it, you become the most interesting person in the room. Everyone—publications, vlogs, and podcasts—clamours to hear from you.

Six lessons learned from speaking to Africa's top VCs

Despite the downturn in the US economy, a 2022 report by Bamboo revealed why Nigerian retail investors have continued to invest in stocks in the bear market.

Why African millennials and Gen Z invest in US stocks despite the bear market

Releaf, a technology company that makes it easier for consumer goods manufacturers in Africa to access high-quality ingredients for their factories, has raised $3.3 million in an oversubscribed pre-series A funding round.

Releaf secures $3.3 million pre-series A, launches Kraken II and SITE

Starting February 2023, Google will charge Kenyan users a 16% VAT on ads following local tax regulations.

Starting February 2023, Google will charge 16% VAT on ads in Kenya

Catalyst Fund has invested $2 million investment into 10 startups accelerating Africa’s adaptation and resilience to climate change.

Catalyst Funds invests $2M into 10 African cleantech-focused startups

Global payments company, Flutterwave wants to acquire Railsr, a UK-based fintech company, according to Sky News UK.

Flutterwave wants to acquire UK fintech, Railsr

These startups are deploying artificial intelligence to solve problems in healthcare, finance, logistics and identity verification.

10 Nigerian AI startups to watch in 2023

Y Combinator has released a list of 94 companies across the world that are part of the 2023 winter batch. As in previous batches, YC often updates its company directory with new participants who are participating in a batch. This might not be the final list of the YC 2023 winter batch.

Meet the African startups in YC 2023 winter batch

How does Elon Musk’s Starlink compare with Kenya current internet providers as it announces its launch in the country?

Elon Musk's Starlink to launch in Kenya this year

Shekel Mobility has secured $1.95 million in pre-seed funding to pursue its ambition of building the largest Auto dealership ecosystem powering $10 billion dollars by 2025.

Backed by YC, Shekel Mobility is building a neobank and trading platform for car dealers in Africa

As African businesses start to build their cybersecurity resilience planning, priorities, and roadmap for 2023, Jaco Nel, CTO at Deimos makes cybersecurity predictions.

Top five cybersecurity predictions for African businesses in 2023

UK-based work payments platform for freelancers and remote workers, Native Team has expanded its operations into Nigeria.

Native Teams expands into Nigeria to enable payments for freelancers and remote workers

Safaricom and Kenyan banks have been allowed to charge for M-Pesa to bank transactions, according to a new court order.

Kenyan court rules in favour of M-Pesa to Bank transfer charges

It's no secret that technology across the continent is burgeoning at unprecedented rates. Homegrown innovations that speak to socio-economic bottlenecks are plenty, due to increased access to resources, training and development, and investment.

How increased local tech hubs will enable African industries

Over 300 million Africans were affected by internet shutdowns in 2022, according to Surfshark’s internet censorship annual recap.

Over 300 million Africans were affected by internet shutdowns in 2022

The Central Bank of Kenya has issued digital credit providers' licences to 12 more lenders in the digital loans market, taking the number of licensed digital lenders to 22.

Kenya licenses 12 more digital credit providers — making it 22

According to Malawi Communications Regulatory Authority, cybercriminals steal about $117,000 via mobile money transfers every month.

In Malawi, mobile money users get scammed of about $117K monthly

OADC Kinshasa is a strategic element of digital infrastructure for the DRC, which the World Bank reports as being one of the most underdeveloped digital economies in Africa.

DRC's first open-access data centre will commence initial operations in Q2 2023

Doubling down on the success of its first pan-African fund, Partech has secured $262 million for the first close of its second Africa fund.

Partech Africa II reaches oversubscribed first close at $262M

Nigerian fintech, Flutterwave has obtained payment services provider and payments facilitator licenses from the National Bank of Egypt.

Flutterwave expands into North Africa

Nigeria-based insurtech, Curacel has secured a $3 million seed funding to expand its drive insurance experiences across Africa

YC-backed Curacel secures $3M seed to expand its insurance offering into North Africa

Africa's leading KYC onboarding and identity verification platform, Smile Identity has secured a $20 million Series B to grow its team and expand its offering across Africa.

Smile Identity lands $20M Series B for pan-African expansion

Bolt drivers will be able to receive preventive care, telemedicine services, and access to a network of healthcare providers, all while keeping costs low.

Flance partners with Bolt to provide drivers with healthcare

Amidst "layoffs for restructuring", Bolt wants to hire a country manager in Nigeria


Kenyan authorities have unfrozen KSh6.6 billion (~$51 million) belonging to African fintech unicorn, Flutterwave.

Flutterwave's ~$51 million released by Kenyan authorities

MFS Africa has entered into a partnership with Western Union. The partnership will enable funds to be sent from countries around the world to mobile wallets across Africa.

Western Union teams up with MFS Africa to enable cross-border mobile money transfers in Africa

In this interview, Mayokun Fadeyibi, SVP at Autochek talks about the importance of equal representation and the M&A landscape in Africa.

“Equal gender representation should be the norm,” Mayokun Fadeyibi, SVP at Autochek West Africa, says

Fifteen startups from eight African countries have been selected for the inaugural cohort of the Google for Startups Accelerator for African female-led startups.

Meet the inaugural cohort of Google for Startups Accelerator for African female-led startups

Dream VC, an investor accelerator platform focused on African tech ecosystem, has today opened up applications for its 2023 venture capital fellowship programs.

Dream VC opens application for its 2023 venture capital fellowship programs

African fintech unicorn, Flutterwave has acquired two additional licenses in Rwanda, three years after it launched operations in the country.

Flutterwave acquires more fintech licenses in Rwanda

The Nigerian government in collaboration with local and international partners have launched a $618 million fund to invest in the country's digital and creative industries.

Nigeria launches $618M fund to invest in tech and creative startups

The Central Bank of Nigeria has disclosed that eNaira transactions have experienced growth amidst the ongoing cash crunch in the country. The value of transactions has surged to 63%.

eNaira transactions surge amidst cash shortage, CBN says

The ongoing demonetisation policy in Nigeria has surged digital payments in the B2B ecosystem. For instance, Duplo recorded a 34% increase in its virtual accounts usage.

How the cash shortage impacted B2B payments in Nigeria

Using mobile money leads to a 19.8% increase in the likelihood of female-led businesses receiving investments from outside sources. The success of mobile money in Africa is well known. If you have paid any attention to the continent's financial and technology spaces over the past decade or so, you probably won’t be surprised to learn that it accounts for around 70% of the world’s US$1 trillion mobile money value.  

The exciting relationship between women and mobile money in Africa

The Workspace Voucher Programme by Lagos Innovates has been relaunched to facilitate access to well-equipped workspaces for Lagos-based startups.

Lagos relaunches Workspace Voucher Program for startups

As part of its efforts to be a zero-emission company by 2040, Uber is engaging with African governments to develop policies that will enable the adoption of electric vehicles (EVs).

Uber wants to roll out EVs in Africa, but its needs the government

Barely 24 hours after rumours started about layoffs at Microsoft ADC Kenya, an employee has confirmed that he was affected by the layoff which is part of a global job cut at the big tech.

Africa Development Centre Kenya is affected by Microsoft's global layoffs

In 2022, South Africans spent more time on the internet compared to the rest of the world. With the increased load shedding, its internet usage might be affected this year.

Load shedding might impact South Africa's internet addiction

Nigerian shared-mobility startup, Shuttlers has raised $4 million in equity funding to expand its offering across the country. The funding round was led by Verod-Kepple.

Shuttlers secures $4M to drive its shared-mobility offering in Nigeria

South African-founded fintech Peach Payments has secured $31 million Series A funding from equity fund manager Apis Growth Fund II.

SA fintech Peach Payments secures $31 million Series A

Google will prevent apps that offer loans to individuals from gaining access to their photos, videos, and contacts in a bid to address predatory behaviour from some lenders.

Google to prevent financial lending apps from accessing user photos, contacts

Chekkit has raised an undisclosed round from Adaverse, a Cardano ecosystem accelerator, with participation from existing investors like RTA, HoaQ, Launch Africa, and Blockchain Founders Fund.

Chekkit secures additional funding to scale its blockchain-powered drug safety & tracking technology

B2B e-commerce company, Copia has shut down its Ugandan operations due to the economic downturn. However, it will double down on its operations in Kenya.

Copia exits Uganda, to focus on Kenyan operations

Autochek has acquired a majority stake in Egypt’s AutoTager to strengthen pan-African footprint, ten months after it expanded into North Africa. This is its second acquisition in the region.

Autochek acquires a majority stake in Egypt’s AutoTager

Out of the 30 young Africans recognised by Forbes Africa 30 under 30 class, 11 are tech professionals from Nigeria, South Africa, Tanzania, Rwanda and Mauritius.

African techies in the 2023 Forbes 30 under 30 class

Payday, a Pan-African neobank issuing global (USD, GBP & EUR) accounts to Africans, has announced that Starlink's users can now use its platform to pay for subscriptions in Rwanda.

Payday announces partnership with SpaceX’s Starlink in Rwanda

Closer collaboration between banks and fintech companies is a positive development and has the biggest potential to drive financial inclusion in Africa.

How collaboration between banks and fintech is driving financial inclusion in Africa

Smile Identity has acquired Ghana-based ID verification company, Inclusive Innovations—the parent of Appruve. With this acquisition, Smile Identity says it will deepen its presence in Ghana and expand into francophone Africa, focusing on Cote D'Ivoire and Senegal.

Smile Identity acquires Appruve, to expand its ID verification offering across Africa

Retna, a new library of authentic African imagery, has officially launched in public beta, providing creatives and brands with an extensive collection of high-quality photos, featuring diverse subjects, concepts, and stories, all captured by talented photographers across the continent.

Retna launches the Shutterstock for Africa

Carta, a US-focused equity management platform that was last privately valued at $7.4 billion has invested an undisclosed amount into Raise, a startup building Africa’s Carta.

Raise gets Carta's backing to build Africa's equity management platform

Nigerian movie producer, Play Network Africa has launched Aki and Pawpaw Epic Run, Nollywood's first game app modelled after the popular 2002 comedy; Aki Na Ukwa.

Inside Nollywood's first game app—Aki and Pawpaw Epic Run

The Lagos state government has partnered with Oando and EV manufacturer, Yutong to put 12,000 electric buses on Lagos roads by 2030. The first set of the buses have been delivered.

Lagos wants to use 12,000 electric buses for mass transit by 2030

Microsoft has appointed Lillian Barnard to lead its African operations as part of its efforts to accelerate digital transformation on the continent.

What the leadership changes at Microsoft Africa means

Pan-African fintech company, Vesicash has expanded its payment offering and newly launched Merchant of Record product in Ghana, Rwanda, Zambia, and Egypt.

Vesicash expands to four new African markets, launches Merchant of Record product

Nigeria's federal executive council has approved the national policy on blockchain. Through the policy, the country will develop regulatory framework to govern the adoption of the technology.

FEC approves use of blockchain in Nigeria

In 2016, two Ethiopian entrepreneurs—Amadou Daffe and Hiruy Amanuel—founded Gebeya to bridge the shortage by providing training and also serving as a marketplace between these talents and companies in Africa. We look at the next phase of this company.

Inside Gebeya's plan to support 100 existing marketplaces in Ethiopia, and across Africa

Zimbabwe has launched a gold-backed digital currency. It will be used as legal tender alongside the Zimbabwean dollar.

What we know about the Zimbabwean gold-backed digital currency

Kenya-based iProcure has announced its expansion into Tanzania through its partnership with the Farm to Market Alliance.

Kenyan agritech startup, iProcure expands into Tanzania

Safaricom Ethiopia has received mobile money licence from the National Bank of Ethiopia to expand M-Pesa in Ethiopia.

Safaricom gets licence to expand M-Pesa into Ethiopia

Volition Cap, an asset management company empowering the hardworking middle-class to create wealth, announced today that it has secured a fund management licence from the Nigerian Securities and Exchange Commission (SEC), as of December 2022.

Nigeria’s SEC grants Volition Cap licence to kickstart fund management

Carry1st has launched India's leading mobile esports and gaming platform in Africa. As the official licensor and publisher of Mobile Premier League (MPL) in Africa, Carry1st will enable new players to access one of the world's largest Paid Competitive Gaming (PGC) platforms.

Carry1st brings mobile Premier League to Africa

Andela, a pioneer of early software developer growth in Africa—now a “​​global network for remote technical talent” has acquired Casana, a Munich-based network of IT talent.

Andela acquires Casana, a Munich-based network of IT talent

Following President Ruto's announcement on Kenya's plan to manufacture the cheapest smartphones in Africa, the country says the launch will hold in July.