Author: Staff Writer

As you would recall, we reported a couple of days ago some African Fintech startups including Flutterwave, Busha suspended virtual card services due to suspension of services by a card partner. As reported also, we also stated that our preliminary investigation stated that the card partner was Union54 and we…

BFA Global’s Catalyst Fund announced that it has received $3.5 million from FSD Africa to boost the influence in Africa. Catalyst Fund, managed by BFA Global, is a global accelerator that supports inclusive tech innovators in emerging markets offering inclusive solutions for underserved and climate-vulnerable communities, and builds the local…

Strive Masiyiwa’s Cassava Technologies has secured a US$50 million investment from C5 Capital to accelerate Cassava’s growth in digital connectivity and inclusion in Africa. According to a statement from Cassava technologies, “the investment by C5 will contribute to the acceleration of the work that Cassava has undertaken to increase digital…

Some African fintechs including Flutterwave, Chippercash, Eversend, Busha have suspended their Virtual dollar card service indefinitely. The fintechs sent emails to their customers on Friday notifying them of this service unavailability as from the 17th of July, 2020. The fintechs all claim this service disruption is due to an update…

Ping Express CEO, Anslem Oshionebo and COO, Opeyemi Odeyale have been sentenced to 27 months in federal prison after pleading guilty to failure to maintain an effective anti-money laundering program. The IT/Business Development bagged a prison sentence of 42 months for his involvement. The company, Ping Express, faces five years…

Two Nigerian firms, Korapay and Kandon Technologies, have had their accounts frozen over claims that they are being used by fraudsters as conduits of international money laundering. This is coming just days after eight bank accounts including that of Flutterwave were also frozen over money laundering too. However Flutterwave has…

While the healthcare industry has been scrutinized for its slow-moving adaptation to current trends, the COVID-19 pandemic has forced it to quickly stand on its feet and start running to meet the rising demands of patients and consumers. This 2022, we’re already seeing several factors impacting the healthcare industry. In…

How many devices do you currently have on hand? How often have you checked your social media accounts in the last hour? When was the last time you played a video game? The answers to these questions may seem unrelated. Technology addiction is becoming more and more accurate and can…

African Leadership International (ALI) announced that it has signed an agreement to acquire Silicon Valley based Holberton Inc., a Silicon Valley-founded, project-based, college alternative educating the next generation of software engineers. According to Fred Swaniker of African Leadership International in a LinkedIn post, “Once complete, this acquisition will give ALI…

Zazuu, an Africa-focused payment fintech company, announced that it has raised $2million to build a remittance marketplace for Africans. Participants in the fundraising round include Launch Africa, Founders Factory Africa, Hoaq Club, Tinie Tempah, Jason Njoku, CEO IrokoTV, Babs Ogundeyi, CEO Kuda Bank, and other angel investors. Founded in 2018…

Over 124,000 leaked confidential documents, aptly named the Uber Files, reveal that Uber dealt in illegal lobbying, flouted laws, duped police, exploited violence against drivers and did many more dubious things in the course of its aggressive expansion globally. The unprecedented leak to the Guardian shows the ethically questionable practices…

Billionaire Elon Musk has officially announced that he is pulling out of the $44 billion agreement to buy Twitter. This is the latest in the long standing epic drama which began many weeks ago when Elon Musk first bought 9.2% of the social media company, making him the largest shareholder…

Endeavor, a global firm that invests in entrepreneurs, announced that it has closed its endeavor Catalyst Fund IV raising $292 million, the largest fund to date, surpassing the fund’s initial $200 million – $250 million target. This brings Endeavor Catalyst’s total assets under management (“AUM”) up to $500M+. Founded by…

Social media giant, Twitter, is testing a new feature, named “CoTweets”, which allows users co-author tweets and both be tagged in a single tweet. We had reported in March 2022 that the micro-blogging platform was indeed working on a Twitter collaboration feature which is similar to Instagram’s Collab feature, where…

CreditChek announced that it has raised $240,000 in a pre-seed funding round led by Atom Capital with participation from Aidi Ventures, Ham Serunjogi of Chippercash, Olumide Ogunsanwo of Adamantium Fund, Damola Adegboyega of Assembly Investors, Isaac Ewaleifoh of Launch Africa Ventures and Ogundiran Kayode. Founded by Kingsley Ibe and Lionel Orishane in…

Fintech giant, Flutterwave has come out to deny the money laundering charges brought against in Kenya, saying that “claims of financial improprieties involving the company in Kenya are entirely false” Yesterday, reports emanating from Kenya stated that Asset Recovery Agency (ARA) in Kenya issued orders to a high court for…

The Asset Recovery Agency (ARA) in Kenya has issued orders to a high court to freeze 56 accounts holding Sh7 billion ($59.2 million) belonging to foreign nationals and entities including Flutterwave, a Nigerian fintech company that provides a payment infrastructure for global merchants and payment service providers across the continent. …

Meta announced that it has built and open sourced ‘No Language Left Behind’ NLLB-200, a single AI model that can translate across 200 different languages, including 55 African languages. Meta uses the modelling techniques and learnings from the project to improve and extend translations on Facebook, Instagram, and Wikipedia. According to…

Kenyan B2B last mile logistics startup, Duhqa has closed a $2 million seed round to scale its service offering within Kenya and East Africa. The startup raised US$ 150,000 in pre-seed funding in 2021. The funding round attracted participation from CrossFund, Roselake Ventures, Mo Angels and a number of existing investors, including Techstars…

Mono is now live in Kenya. Mono enables its partners to build apps that make transfers from their customers’ bank accounts instantly, help them understand their users’ cash flow with more detailed information, offer convenient credit, among other things. Founded by ex-Paystack employee and CEO Abdul Hassan and CTO Prakhar Singh, and launched…