Author: Staff Writer

The Emerging Africa Infrastructure Fund (EAIF), part of the Private Infrastructure Development Group (PIDG), together with its fund manager, Ninety One, has pledged a significant investment to revolutionize Africa’s digital landscape. A US$31 million debt facility has been committed to Paratus Group Holdings Limited (Paratus) to drive the expansion of…

Fez Delivery, a front-runner in last-mile delivery services, has made an impactful move towards a greener future by launching “FEZ ECO,” its innovative line of electric bikes. This groundbreaking initiative propels the company to the forefront of sustainable goods transportation, echoing its commitment to ecological stewardship and economic efficiency. The…

vivo, a global powerhouse in consumer technology, is gearing up to unveil its latest innovation, the vivo V29 5G, in Kenya. This new addition to the esteemed V series is scheduled to make its debut on 13th November 2023, continuing vivo’s legacy of integrating cutting-edge technology with user-centric design. The…

Good Nature Agro (GNA), a Zambian tech-enabled for-profit social enterprise, has secured $8.5 million in a Series B funding round led by Goodwell Investments. Other participants in the round include social impact investing cooperative Oikocredit and Global Partnerships/Eleos Social Venture Fund (GP SVF). Goodwell Investments also led a $2.1 million Series A funding round…

JOBJACK, a pioneering online platform dedicated to simplifying the search for entry-level jobs, has recently announced a significant milestone, raising R45 million (approximately $2.5 million) in a pre-series A funding round. The round is spearheaded by Next176 and includes the Michael & Susan Dell Foundation, known for their impact-focused investments.…

In a landmark move for sustainable transport in East Africa, BasiGo has received a grant of USD 1.5 million from the United States Agency for International Development (USAID) through its Development Innovation Ventures program. This funding is a major boost to BasiGo’s ongoing efforts to introduce electric buses in Kigali,…

Flutterwave’s CFO, Oneal Bhambani, has announced his resignation from the fintech startup. He made this known on his LinkedIn page on Tuesday. According to him, “Life moves pretty fast. If you don’t stop and look around once in a while, you could miss it.” Thank you to Flutterwave for a…

WeWork South Africa has announced that it is not affected by the bankruptcy of WeWork US operations. In fact, it says that it is looking to expand its operations. There are currently three WeWork offices in South Africa – one in Cape Town and two in Johannesburg. Founded in 2010 by Adam…

ORA Technologies, Moroccan tech company, announced that it has successfully secured $1 million in a pre-seed funding round. The raise was achieved over three rounds and solely through private investors within the last eight months. Founded in 2023 by Omar Alami and six others, Ora technologies has a super app,…

OpenAI has unveiled a game-changing advancement with its new customized ChatGPT bots, referred to as GPTs, signaling a transformative approach to artificial intelligence. Announced at the first-ever DevDay conference in San Francisco, this initiative provides a powerful tool for creating AI that’s customized to individual needs, whether for professional, educational,…

In an era where the adoption of artificial intelligence is accelerating, OpenAI’s ChatGPT has hit a new milestone, reaching an astounding 100 million weekly active users. This announcement came from OpenAI CEO Sam Altman at the company’s inaugural developer conference in San Francisco. ChatGPT, launched just under a year ago,…

Norrsken22, a Pan-African venture capital firm, announced that it has achieved the final close of its debut fund, raising a total of $205 million. The fund named the Norrsken22 African Tech Growth Fund, was launched in January last year after reaching the first close at $110 million. Remarkably, around 59% of…

Japan’s heavyweight in venture capital, SBI Holdings, and Africa’s premier VC investor, Novastar Ventures, have embarked on a monumental strategic partnership. The alliance sees a substantial $40 million multi-fund investment from SBI Holdings, aimed at anchoring Novastar’s future funds. This partnership goes beyond mere monetary terms. SBI Holdings aims to…

Navigating through a dense mathematics text or seeking clarity on an intricate physics query can often feel like traversing a labyrinth. And that’s not even diving into the convoluted realms of biology or the sometimes baffling world of geometry. But, fret not. Google’s revamped Search and Lens functionalities are here…

Today, British International Investment (BII), the UK’s leading development finance institution and impact investor, announced a commitment of US$26.5 million to AFEX, the continent’s premier commodities platform. With operations spanning over 200 warehouses across Nigeria, Kenya, and Uganda, and serving a whopping 450,000 farmers, AFEX has carved a niche for…

There is a new domain in town and curiously named .ing. Google Registry has launched this new top level domain and you can register .ing domains as part of its Early Access Period (EAP) for “an additional one-time fee”. We, at Innovation Village, tried some of the domain and they are…

The global expanse of the Tunisian diaspora is remarkable. With nearly 2 million Tunisians residing abroad, their influence on the Tunisian economy is palpable. By the close of 2023, remittances from this group are projected to skyrocket to an impressive 10 billion dinars. Amidst this backdrop, 216 Capital, in its…

Egyptian healthtech startup, Almouneer, a frontrunner in the digital transformation of healthcare in the Middle East and Africa (MEA), has proudly announced a seed funding round amassing US$3.6 million. Leading the fundraising was Dubai’s Global Ventures, with noteworthy investors Proparco, Digital Africa through the Bridge Fund, Wrightwood Investments representing Diane…

Last year, Elon Musk purchased Twitter for $44 billion, and now, renamed as “X”, its value has decreased by 55% to $19 billion. This new valuation was confirmed when, on Monday this week, employees at X were awarded equity in the company at a valuation of $19 billion, or $45…

MTN Nigeria Communications Plc faced a significant decline in its profit margins for the third quarter of 2023. Despite a commendable revenue generation, the company’s profit before tax witnessed a severe dip of 75.7% year-on-year. This was due to the removal of the fuel subsidy, currency devaluation from forex liberalisation,…