Kuzlo, an Egyptian B2B marketplace that connects FMCG small retailers with wholesalers available in their area providing full transparency on product availability and prices, announced that it has raised an undisclosed amount in a pre-seed funding round by Nama Ventures. FMCG market is changing due to the high competition from…
Author: AdeO
It’s no longer news that the Central Bank of Nigeria has launched the eNaira. The interesting thing here is that Nigeria is the first country to launch a digital currency. This said, there so many things about the eNaira you should and this article highlights some of them. The charges…
Stitch, a South African API fintech startup, has announced expansion into Nigeria, as well as a $2M seed extension with participation from leading global fintech entrepreneurs – bringing their total seed funding to $6M. This comes just eight months after the team emerged from stealth and announced an initial $4M…
Africa’s e-commerce platform, Jumia, has published its first Africa e-commerce report, Jumia Africa e-Commerce Index 2021 with a Nigerian section, which leveraged data from the company’s platform to illustrate the importance of shopping online in a pandemic context. The shift to everyday products during COVID-19, is part of a broader…
The Catalyst Fund Inclusive Digital Commerce Accelerator welcomed four Ghanaian digital commerce companies, OZÉ, Shopa, Swoove, and Tendo, as the second cohort to receive funding and support. The Accelerator, managed by BFA Global in partnership with the Mastercard Foundation and the Meltwater Entrepreneurial School of Technology (MEST), focuses on building the resilience of Ghana’s…
In today’s digital world, where faxes have all but been replaced by email and landlines by smart phones, doesn’t it seem strange that we’re still signing contracts in person? That we’re driving hours to do so, creating mountains of paper trails, and storing them in lever arch files to gather…
The bank accounts of Nigerian investment fintechs including Rise Vest, Bamboo and Chaka have been unfrozen by the Federal High Court sitting in Abuja. The Central Bank of Nigeria had accused the firms of sourcing foreign currency illegally to buy foreign securities and asked the court to freeze their accounts…
Mastercard has appointed Gabriel Swanepoel as the new Country Manager for Mastercard in South Africa. This serves as a promotion from his current role as the Vice President of Business Integration for Mastercard, Southern Africa. As country manager, Swanepoel is responsible for further driving the company’s strategic vision, innovation and…
Generation Z are rapidly stepping onto the world stage. They are graduating from high school, entering the workforce and studying at tertiary education institutions. Referred to as digital natives, this generation grew up with technology and have no knowledge of life without it. They are globally connected, incredibly mobile, entrepreneurial…
Nigeria has become the first country in Africa to launch a digital currency. Tagged eNaira, the digital currency backed by the Central Bank of Nigeria was unveiled by President Muhammadu Buhari at the Statehouse in Abuja, Nigeria’s capital on Monday, October 25. The event had in attendance the President, Vice…
There are a number of reasons a business needs investments, these investments could be in the pre-seed, Series A or B. Regardless of whatever stage the business is operating, the major reason for seeking funding from investors is usually for expansion purposes. This expansion could be in the line of products or…
First Bank Holdings, owners of First Bank Nigeria, has confirmed Nigerian billionaire, Femi Otedola as the majority shareholder of the company with a 5% equity stake The bank had earlier denied Otedola’s acquisition of significant shareholding, saying that it has not been notified. It said in a notice by the firm to the…
President Muhammadu Buhari will on Monday (October 25, 2021) formally unveil the Nigerian Central Bank Digital Currency (CBDC), known as the eNaira. The Central Bank of Nigeria had earlier announced the launch of the digital currency on October 1 but postponed the launch citing lined up events for the country’s…
*First Bank says it is not aware of the takeover Nigerian billionaire, Femi Otedola, has reportedly assumed control of First Bank, Nigeria’s oldest bank, after buying shares worth N30 billion of the company’s equities at the Nigerian Exchange (NGX) Limited, where the firm is listed. According to the report, Otedola…
Businesses have leveraged employees to amass billions of dollars by offering innovative services to millions of customers worldwide. At the same time, they have also been impacted by economic, political, legal, and socio-cultural factors. Yes, no doubt, many businesses have either been made or marred by the factors mentioned earlier.…
TalentQL has announced the launch of its new initiative – AltSchool Africa, a program where individuals, starting from secondary school graduates, looking to build a career in tech, can earn a top-rated diploma in software engineering within a year. AltSchool Africa is structured around a comprehensive curriculum designed to impart…
African startups took seven out of the available 12 spots in the 5th cohort of Techstars Toronto Accelerator. The seven have secured access to mentorship, US$120,000 in funding, and an opportunity to secure further investment at demo day. The African startups that made it to the Techstars Toronto accelerator are…
New technology often seems fantastic on paper yet has little impact on the life of the average person. A new tipping solution for fuel pump attendants, however, does both. When asked to fill up a fuel tank as motorists do in the movies, few South Africans would know what to…
MFS Africa, a pan-African digital payments hub, announced today that it had signed an agreement to acquire Baxi, one of Nigeria’s leading super-agent networks. The deal, which is subject to approval from the Central Bank of Nigeria, will be the second-highest fintech acquisition in Nigeria to date. Nigeria is home…
Instagram has announced that its over 1 billion users can now post photos and videos using its desktop web browser starting October 21. A few months ago, Instagram began testing the ability to post from the desktop but it was limited to selected users. Now, as reported by TechCrunch, everyone will be able…