New search trends released by Google show that search interest in AI has reached an all-time high in Nigeria. The trends show that people have searched for AI more than ever in 2023 so far, with interest rising 310% since last year, and by 1,660% in the last five years.…
Author: AdeO
Lengo AI, a Senegalese Artificial Intelligence-driven FMCG intelligence platform, has raised undisclosed pre-seed funding co-led by early-stage venture capital firm Acasia Ventures and Ventures Platform. The round was joined by P1 Ventures, Launch Africa, Voltron Capital and a number of other VCs and angel investors. The investment will be used…
Jumia, the e-commerce platform in Africa, has announced an agreement with Starlink, a satellite internet service, to retail the Starlink Residential Kit in Africa. With this partnership, Jumia aims to bridge the digital divide by delivering Starlink’s high-speed, low-latency internet to previously underserved regions of Africa. The agreement will initially…
Stitch, the South African embedded payments platform, has closed a $25 million Series A Extension led by Ribbit Capital. The round was joined by existing investors including CRE Ventures, PayPal Ventures and the Raba Partnership. The latest fund brings the total series A funding round to $52 million over 5…
Ecobank Group, the Pan-African banking group, invites innovative and ambitious African fintech entrepreneurs from across Africa to apply to participate in the 6th edition of its Ecobank Fintech Challenge. Similar to previous editions, the Fintech Challenge offers exceptional prospects for Fintechs that align with Ecobank’s strategic objectives, enabling them to…
Messenger, a one-stop logistics platform that finances and aggregates end-to-end logistics and supply chain operations, has raised an undisclosed amount in a pre-seed funding round led by Nama Ventures with participation from Aidi Ventures and notable Angels. Messenger is a one-stop logistics platform that finances and aggregates end-to-end logistics and…
The Central Bank of Nigeria (CBN) has increased the limit on cash withdrawals made by individuals and organisations after bowing to pressure, especially from Members of Nigeria’s lower legislative house. Before the review by Nigeria’s apex bank, over-the-counter cash withdrawals by individuals and corporate entities were ₦100, 000 and ₦500, 000, respectively,…
Nigeria’s Agricultural sector is facing a myriad of challenges such as climate and weather changes, insecurity, rural-urban migration, and lack of expertise, financing and infrastructure. These have affected food production and processing, leading to food inflation. According to International Trade Organization, food inflation rose to 22.95% in Q1, 2021. In…
As digital transformation increases at a dizzying pace, digital supply chain (DSC) management has become a business necessity. Software estates are ever-increasing, contracts and licences are becoming more complicated, and preventing wastage is more challenging than ever. Gartner predicts that in 2024, 60% of enterprises will underestimate cloud infrastructure and platform…
Fawry, the leading fintech and banking services company, signed a strategic partnership with Classera, a leader in teaching and distance learning technology, to enhance e-payment services and integrate the digital payment solutions of Fawry and Classera Cpay. In accordance with this partnership, ‘Fawry’ provides all technology solutions and integrated digital…
Bboxx, a super platform providing access to essential products and services, and its partner EDF, a global leader in low-carbon energies, in Togo, have secured an €11m loan from the Off-Grid Energy Access Fund (OGEF) managed by Lion’s Head Global Partners Asset Management (LHGPAM) to enable them to ramp up…
The International Finance Corporation (IFC) has teamed up with UAE, Japanese, Dutch, and private sector commercial bank partners to invest $1.1 billion to build the largest solar plant and wind farm in Egypt. The financing package (including debt and equity) will support UAE-based AMEA Power to build, own, and operate…
South African early-stage venture capital firm 4Di Capital has announced the second closing of its new $25 million seed fund created in partnership with DotExe Ventures in Mauritius, with an undisclosed raise from Mauritian-based conglomerate IBL Group, via its investment vehicle IBL Link Investments. This follows an initial close of…
Afrobarometer, a pan-African, independent, non-partisan research network that measures public attitudes on economic, political, and social matters in Africa has received a grant of $6 million from the Swedish International Development Cooperation Agency (Sida) to support its new 10-year strategy to extend its reach and illuminate the way forward for…
Polygon has teamed up with CV Labs to drive the adoption of blockchain technology throughout Africa. Polygon is engaging and collaborating with the CV Labs network to introduce businesses and organizations to the Polygon ecosystem. This partnership will help expand Polygon’s reach and contribute to a more digitally robust and…
The Multichoice Africa Accelerator has been expanded to eight more countries across Africa following the success of the previous programme which secured $16 million of funding for six emerging businesses last year. Many more small businesses in Africa’s technology sector now have the chance to benefit from the 2023 programme,…
B2C e-commerce platform, Copia Global has entered into a partnership with Cellulant, a Pan-African Payments technology company to simplify payments for its diaspora and urban customers. The partnership will enable Copia’s diaspora and urban customers to conveniently initiate transactions and purchases for their loved ones in rural areas in Kenya…
Modus, a Mena-focused venture platform has partnered with the United States Agency for International Development (USAID), to launch MV Builder II – a Venture Builder in Egypt that will build and support startups driving digital inclusion for the country’s women and underserved populations. The Venture Builder will support the local…
Crypto trading platform Binance has launched free crypto courses for millions of its users to educate on cryptocurrency, blockchain, Web3, and the metaverse. Inspired by the success of its initial program, dubbed Binance Learn and Earn, which received a wider appreciation among its community, the crypto exchange now plans to…
Pan-African payments provider Cellulant and MSMEs-focused B2B digital platform Solv Kenya have sealed a financial services partnership that will enable Solv Kenya’s expanding MSME partners to access digital payment and collections services offered by Cellulant. This partnership will enable MSMEs using the Solv Kenya platform to reconcile, receive, and view…