Author: Staff Writer

Kenya’s industrial landscape has long been dominated by images of cement kilns, textile mills, and steelworks. But in Kiambu County, a different kind of factory has just opened its doors—one powered by the sun and built for Africa’s renewable energy future. Fresh from raising $156 million worth of financing, Sun…

Morocco’s real estate industry is entering a new digital era as Yakeey, a fast-rising proptech startup, prepares to receive up to $7 million in Series A funding from the International Finance Corporation (IFC), the private-sector arm of the World Bank Group. The investment aims to accelerate Yakeey’s product development, strengthen…

Pan-African technology conglomerate Cassava Technologies has added NVIDIA to its growing roster of blue-chip backers—an endorsement that underscores Cassava’s evolution from core digital infrastructure provider to an essential platform for Africa’s artificial intelligence economy. Although the investment amount was not disclosed, the move deepens a partnership that began last year…

Nigerian digital lender Lidya has ceased operations, citing severe financial distress, according to an email sent to customers. “Despite best efforts to restructure and sustain operations, the Company has encountered severe financial distress and is no longer able to continue in business. As a result, the Company has ceased all…

Aliko Dangote has set a new, bolder horizon for his Lagos mega-refinery: doubling nameplate capacity from 650,000 barrels per day (b/d) to 1.4 million b/d, a scale that would eclipse India’s 1.36 million b/d Jamnagar complex and make the Nigerian facility the largest refinery in the world. The billionaire industrialist…

Yaga, the social e-commerce platform behind South Africa’s leading online resale marketplace, has closed a €4 million pre-Series A round to deepen its footprint in existing markets and explore expansion across the Middle East and North Africa. The raise—bringing total funding to €7.2 million—was led by Specialist VC with participation…

Spiro, the electric two-wheel and battery-swapping company operating across multiple African markets, has closed a $100 million investment to accelerate affordable, low-carbon mobility on the continent. The round—described by the company and backers as the largest to date in Africa’s two-wheel EV segment—includes $75 million from the Fund for Export…

Peerless, the enterprise technology company behind SeaBaas, Mizan, Xplorer CRM, and Kusala, has unveiled its first Board of Directors and appointed Dr. Joachim Adebayo Adenusi as Chief Executive Officer and Co-founder, signaling an aggressive push into Africa, the Middle East, and other fast-growing markets. The governance refresh aligns with Peerless’s…

Madica, the Africa-focused early-stage investment program affiliated with Flourish Ventures, has announced new investments in two artificial intelligence startups—Hypeo AI (Morocco) and Anavid (Tunisia)—and a strategic partnership with the African Business Angel Network (ABAN) to unlock more early-stage capital for founders across the continent. The deals reflect Madica’s thesis: back…

SehaTech, an Egyptian insurtech building workflow infrastructure for medical insurance, has closed a $1.1 million seed round, lifting total funding to $2 million. It raised $850,000 in 2023. The round was led by Ingressive Capital, with participation from Plus VC, strategic angels, and existing backers A15, Beltone Venture Capital, and…

Cairo-based artificial intelligence startup Nanovate has secured $2 million in pre-seed funding from a group of angel investors, nine months after its founding by Nancy Madbouly and Ahmed Gamal. The round positions the company to accelerate its vision of Arabic-first AI—technology built natively for the language, culture, and workflows of…

Lagos State has officially launched the Omi-Eko project, a €410 million programme to transform the city’s inland waterways into a fast, reliable and greener commute option. Announcing the initiative, Governor Babajide Sanwo-Olu framed it as “another decisive step toward transforming transportation in Lagos,” and a commitment to a cleaner, safer,…

The Nigerian Bottling Company (NBC) Ltd.—a member of Coca-Cola Hellenic Bottling Company (CCHBC)—has formally introduced Plazma Biscuit to Nigerian shoppers, marking the beverage giant’s first major move into the country’s fast-growing snack category. The launch underscores NBC’s long-term bet on Nigeria’s consumer market and extends a 70-year legacy beyond drinks…

Off-grid solar leader Sun King has signed a Memorandum of Understanding (MoU) with Nigeria’s Rural Electrification Agency (REA) to deepen cooperation on renewable-energy access, local manufacturing, and sector analytics. The agreement—inked at REA’s Nigeria Renewable Energy Innovation Forum (NREIF) in Abuja on Tuesday and witnessed by Vice President Kashim Shettima…

Kenya is on the verge of becoming one of Africa’s most clearly regulated crypto markets after lawmakers approved the Virtual Asset Service Providers (VASP) Bill—a framework that could bring stablecoins, crypto exchanges, and digital-asset platforms under formal oversight. The bill, championed in the National Assembly by Finance Committee chair Kuria…

African startups raised $141.7 million in September 2025, a 21% jump from $117 million in August, driven by large South African rounds and steady fintech appetite in West Africa. Combined with a $555 million surge in July, third-quarter funding totalled $813.7 million. The quarter thus charted a whiplash trajectory—a July…

Elon Musk has reached a settlement with four former Twitter executives who sued him for more than $128 million over unpaid severance tied to his 2022 takeover of the social platform, now called X. Court papers filed last week say “the parties have reached a settlement” that requires “certain conditions…

YouTube is piloting a path back for some creators whose channels were previously terminated, a notable shift in policy for the world’s largest creator platform. The company says the program will allow “qualified creators” to request a brand-new channel—a clean slate—one year after termination, while keeping long-standing safeguards and Community…

REasy, a payments startup focused on African small and medium-sized importers, has closed a $1.8 million pre-seed round to speed up its mission of simplifying cross-border payments for SMEs. The round brings together a strong coalition of early-stage backers, including Launch Africa Ventures, 54 Collective, Ingressive Capital, Digital Africa, Cameroon…

LemFi, the AI-powered international payments platform built for immigrant communities, has launched Send Now, Pay Later (SNPL)—a credit-enabled remittance feature that lets customers transfer money home immediately and settle the bill later. The product debuts in the UK, where immigrants send nearly £10 billion annually, and targets a familiar pain…