StartWeb, a Lagos and Johannesburg-based technology startup rendering no-code SAAS to individuals and organisations and Plaqad, a Lagos and Delaware-based software company, have lunch a ₦10 million prize for African entrepreneurs to tackle some of the hurdles they face. Therefore, they have unveiled #ThatOneThingie, a social media campaign that calls on…
Author: AdeO
The year 2021 was not all about funding and investments in Africa. There were also African acquisitions aka ‘afriquisition’. As long as you have a solid balance sheet that guarantees liquidity, a business can seamlessly acquire another. Besides finances, there are other reasons for acquisitions including diversifying into other verticals,…
The Federal Government of Nigeria has declared a fourth COVID-19 wave as a result of the rise in Delta and Omicron variants infections in the country. The most populous African country has recorded a 500 percent increase in infections in the past two weeks, Ifedayo Adetifa, head of the Nigeria…
Jumia Nigeria has announced the appointment of Damola Giwa as the head of JumiaPay Nigeria, the digital payment and fintech platform of the company. Damola Giwa, has over 17 years of experience in business leadership, strategy and innovation across leading pan-African banking and fintech groups. “I am overly excited with…
Naspers, through its early-stage tech investment vehicle Naspers Foundry, has announced a $3.4 million investment in Planet42, a South African car subscription company addressing transport inequality. The investment is part of a $5.8 million equity round led by Naspers Foundry, alongside existing investors Change Ventures and Startup Wise Guys. Existing debt investors, such…
Bridge to MassChallenge Nigeria, a national startup competition that identifies and accelerates the most high-impact startups across Nigeria, has announced the 30 startups that will participate in an intensive, virtual boot camp between 24th of January and 18th of February 2022. The program is a collaboration between MassChallenge and the…
Aleph has partnered with Startup Wise Guys. The partnership will see experts from Httpool and Ad Dynamo, both Aleph Group companies, provide cutting-edge insights and technological support around digital marketing, for all participants in Startup Wise Guys acceleration programs in the African continent. The new partners are set to kick…
SweepSouth, Africa’s largest online home services platform backed by Naspers, has acquired Egyptian startup, Filkhedma. Launched in 2014, SweepSouth is an online platform providing on-demand home cleaning services, operating across various South African cities. Filkhedma is Egypt’s home services marketplace operating across three cities and serving tens of thousands of customers with…
TikTok is no doubt one of the most popular social media platforms where you can upload videos. Overtime. there’s also been an increase in food trends where people share creative food ideas and recipes, but if you’re too lazy to make those recipes yourself, then you can order the food.…
FSD Africa Investments (FSDAi), the investing arm of FSD Africa, has announced a £3 million ($3.9m) investment into IMFact, to provide working capital to micro, small and medium enterprises (MSMEs). As a “pooled receivables” factoring business, IMFact purchases bulk invoices from MSMEs for a mix of upfront cash and deferred payments. This gives…
Metro Africa Xpress (MAX), the largest vehicle subscription platform for low-to-zero emission vehicles in Africa, has raised $31 million of new capital, in the first close of a Series B funding round, with funding from private equity firm Lightrock and UAE’s Global Ventures. Subsequent closes are expected in the next…
Ecobank Group has announced that Trove Finance, a Nigerian-based global share dealing app, has emerged winner of the fourth edition of the annual Ecobank Fintech Challenge. The winner was announced at the grand finale on December 9. The Ecobank Fintech Challenge is a flagship event of the Ecobank Group to…
Netflix has announced the launch of ‘Tudum’, a website that curates news about renewals, release dates and extra content featuring its TV shows and movies. The website includes categories like Spotlight, News, Coming Soon, Trending, Popular Now, Trailers, News and so on. According to the global streaming service, users can…
4DX Ventures has completed the final closing of its second fund, raising $60 million in commitments. The Africa-focused VC firm will target opportunities in Nigeria, South Africa, Egypt, Kenya, and Côte d’Ivoire. The African-focused venture capital firm had initially set out to raise $50 million but received an oversubscribed amount from…
Nigeria has moved a step closer to rolling out its landmark Nigeria Startup Bill (NSB) that will further deepen the country’s technology ecosystem and enable a sector on the cusp of exponential growth. The Presidency and leaders of the Nigerian technology industry have worked on the bill which has now…
Flutterwave, Africa’s leading payments technology company, today announces Grammy Award-winning international artist, Ayodeji Ibrahim Balogun, popularly known as Wizkid, as its Global Brand Ambassador. Flutterwave also announces the launch of Send, a remittance solution, aimed to increase remittance flow and uptake to the African continent. Send by Flutterwave aims to offer customers…
Cairo Angels has announced the close of the Cairo Angels syndicate Fund (CASF). CASF will be investing ticket sizes of $100,000 – $250,000 on average across the Middle East and Africa with a particular focus on Egypt, the UAE, Saudi Arabia, Nigeria, Kenya, and SouthAfrica. Apart from the investment made…
Minly, an Egyptian celebrity shoutout platform has acquired Dubai-based Oulo to combine services and expand reach for an undisclosed value. Both startups allow fans to connect with athletes, musicians, and other celebrities, and the merged businesses will combine their roster of celebrities across the Arab region. Minly enables fans to…
Wowzi, a Kenyan influencer marketplace, has announced that it has raised a total of $3.2 million in funding. The startup raised a $2 million seed round led by 4DX Ventures. To.org, Golden Palm Investments, LoftyInc Capital, Afropreneur Angels, and Future Africa joined the round. Andela co-founder Christina Sass and alumni…
Bolt has introduced a new feature that allows drivers to set their own prices and passengers to pick their preferred driver. According to the ride-hailing firm, the move is designed to make its platform attractive to drivers by giving them control of prices. Bolt’s Regional Manager for East Africa, Kenneth…