Janngo Capital Startup Fund (JCSF) has announced its first close at €34 million (approximately US$36 million) in capital commitments at the eve of the 77th Session of the UN General Assembly (UNGA). Launched in 2020, Janngo builds, grows and invests in pan-African digital champions with proven business models and inclusive…
Author: AdeO
Egypt’s transport provider, Abou Ghaly Motors (AGM) has secured a loan of €10 million from the European Bank for Reconstruction and Development (EBRD) to purchase 250 range-extended electric vehicles (REEVs) for its taxi services, in a boost for the development of the country’s e-mobility sector. The loan from EBRD is…
Netflix has announced the third session of the Netflix Animation Foundations Program, a mentorship initiative that expands access for underrepresented talent to compete for entry-level roles in animation. Netflix will be partnering with Black ‘N Animated for this edition. Black ‘N Animated is an organization working on career growth and…
Ecobank has launched RapidCollect to allow its customers to receive prompt payments at cheaper rates from their clients in their home country and across Ecobank’s network of 33 affiliates with one account. RapidCollect caters to the needs of business customers across Africa, as the continent is at a unique point…
Infrastructure-focused equity investor, STOA and candi solar, a clean energy company providing solar power to commercial and industrial (C&I) customers have announced the closing of Candi’s series B fundraising. STOA was joined in this financing round by the Energy Entrepreneurs Growth Fund and most existing shareholders, notably the renewable energy…
KCB Bank Kenya has secured a $150 million loan from the International Finance Corporation (IFC) to fund the growth of the bank’s climate finance portfolio, with a specific focus on financing the development of energy efficiency projects, renewable energy, climate-smart projects, and green buildings. IFC through the partnership will support…
Bitso, a cryptocurrency platform has partnered with Africhange, an African-Canadian remittance platform to facilitate cross-border transactions from Canada to Mexico. Initially, Africhange focused on remittances from Canada to Nigeria and after processing over $70 million Canadian dollars, Africhange is now expanding its coverage allowing remittances to be sent from Canada…
Qualcomm Technologies has signed a multi-year agreement with Meta to collaborate on a new era of spatial computing powered by Snapdragon extended reality (XR) platforms and technologies for the Meta Quest platform. Both companies have been in partnership over the years. They have a forged partnership on cutting-edge virtual reality…
Egypt-based el-dokan, a company that specialises in enterprise e-commerce solutions, has raised a $550,000 pre-Seed round led by a group of local and regional investors including EFG EV and Flat6Labs, 500 Global and Hala Ventures. Launched in late 2020 by Ahmed Maher, Mohammed Shirt and Sherif Alaa in Egypt, el-dokan…
Egypt-based second-hand cars marketplace Carzami has raised a pre-seed round led by Contact Financial Holding. The amount raised was not disclosed. Founded in 2022 by Hussein Hosny and Adham Hosny, Carzami is an online platform for buying and selling used cars that offers its customers 360-degree virtual tours and inspection…
Meta today announced it is testing two new ways to help Instagram users control the content they are exposed to on their Feeds. The company also shared a list of controls and methods that will help the members of its community achieve this. The tech company is currently testing the…
Impact investment Fund, eco.business Fund has made its first investment in Ghana, providing $15 million to Fidelity Bank. The $15 million investment which is a loan will be on-lent to a wide range of agribusinesses that cover the entire value chain – from food production to logistics and supply chains…
Vodacom Financial Services has launched a new product, VodaLend Cash Advance. The new product is designed to give customers quick and secure access to money when they need it urgently. VodaLend Cash Advance is the latest product to be added to the VodaLend financial services suite, which includes VodaLend Compare,…
Moove has signed a Memorandum of Understanding (MoU) with MUFG, one of the world’s leading financial groups and Suzuki, one of the world’s leading suppliers of vehicles to mobility businesses. The MoU will help Moove, which provides revenue-based financing to mobility entrepreneurs, to advance financial inclusion and job creation as…
Duplo, a business-to-business payment platform that makes it easier for African businesses of all sizes to pay each other, has raised $4.3 million in seed funding to launch new products and expand into new business verticals in Nigeria. The seed funding round included Liquid2 Ventures, Soma Capital, Tribe Capital, Commerce…
HP Inc. has completed the $3.3 Billion acquisition of Poly, a leading global provider of workplace collaboration solutions. The transaction was financed through a combination of balance sheet cash and new debt. The deal will speed up HP’s strategy to create a more growth-oriented portfolio, further strengthen its industry opportunity…
Mastercard has powered the launch of Telda prepaid cards, an innovative payment solution jointly issued by one of the major banks in Egypt and a fintech. The solution is a product of a collaboration between Banque du Caire, one of the country’s leading financial institutions, and Telda, a fast-growing Egyptian…
PalmPay, an Africa-focused payments startup redefining the payments experience for consumers and businesses in Africa by making financial services more accessible and affordable has announced it has reached 10 million users in Nigeria, its main market. The startup launched in Nigeria in 2019 after securing a $40 million investment from…
African Fintech Entrepreneurs can now apply for the Ecobank Fintech challenge. Fintechs that are aligned with the Bank’s strategic objectives stand a chance to win an overall cash prize of US$50,000 for the top winner and the opportunity to partner and scale their solutions across Ecobank’s 33 African markets. The…
The Algerian Startup Fund (ASF) has sealed an agreement with the country’s General Directorate of the Treasury to launch a new fund that will see it invest $411 million in local startups across the country’s 58 regional provinces. Each considered startup will receive up to $1 million. The fund will…