Entersekt, the Financial Authentication Company, has successfully acquired the Modirum 3-D Secure software business from Modirum, a leading digital payment security provider. With a history spanning 25 years, Modirum has been a pioneer in facilitating authenticated, card-not-present payments. Its cloud-based 3-D Secure (3DS) technologies and services authenticate digital payment transactions…
Author: Staff Writer
Staff Writer
I am a staff at Innovation Village.
Co-creation Hub (CcHUB), Africa’s largest innovation center, has appointed Ojoma Ochai as its new Managing Director, succeeding the former CEO, Bosun Tijani, who has transitioned to serve as the Minister of Communications, Innovation, and Digital Economy of the Federal Republic of Nigeria. Ojoma Ochai, previously the Managing Partner at the…
Cryptyd Inc, an Egyptian cutting-edge gaming company, has successfully concluded a funding round with backing from Newton International Management. The capital injection is set to drive the launch of Cryptyd’s revolutionary Baloot Quest تحدي بلوت mobile game, with a focus on targeting the Saudi Arabian market and other GCC regions.…
Yabx, a prominent player in the digital lending space, is taking a significant leap forward by introducing WhatsApp lending services in Africa through a strategic collaboration with Clickatell. This move is poised to democratize access to financial services, enabling customers to secure credit in real time. In Africa, the demand…
Jenesys AI, a major player in B2B invoice management and payments, has announced the successful closure of a $1.1 million pre-seed funding round. Spearheaded by Nigerian co-founder Oluwatosin Dairo, Jenesys AI is poised to redefine transactional accounting and compliance through the incorporation of cutting-edge AI technology, shifting the human role…
Techstars has unveiled the second cohort of its pan-African accelerator program in collaboration with Lagos-based innovation program, ARM Labs. This initiative, known as the ARM Labs Lagos Techstars Accelerator, builds on the success of its inaugural program and reinforces its commitment to supporting entrepreneurs driving impactful change in Africa and…
Jumia has unveiled plans to shutter its food delivery arm, Jumia Food. The company will maintain its core physical goods business and JumiaPay operations across all its operational countries. After conducting a strategic review of Jumia Food, the company concluded that the food delivery business is not well-suited to the…
In recent years, the subscription model has taken the world by storm. From streaming platforms to monthly snack boxes, the charm of having personalized services delivered to your doorstep or device is undeniable. This convenience, however, comes at a cost. While each service may seem like a small addition to…
OpenAI, the company behind ChatGPT, has announced the opening of applications for Converge 2 – the second cohort of its six-week program for exceptional engineers, designers, researchers, and product builders using Artificial Intelligence (AI) to reimagine products and industries. Launched in December 2022, Converge was created by OpenAI to accelerate…
The Nigeria Data Protection Commission (NDPC) has taken a significant step towards fortifying the data protection sector with the unveiling of the Nigeria Data Protection Strategic Roadmap and Action Plan (NDP-SRAP 2023-2027). The launch, which took place in Abuja, coincided with a capacity-building workshop on Data Privacy and Protection for…
South African parcel shipping platform, TUNL, has successfully secured $1 million in pre-seed funding from notable investors, including Founders Factory Africa, Digital Africa Ventures, E4E Africa, and Jozi Angels. This funding injection will propel TUNL’s expansion within its primary market, South Africa, while also laying the foundation for its entry…
In a significant move to bolster vaccine production and enhance pandemic preparedness in Africa, the International Finance Corporation (IFC) has unveiled an investment and advisory support package for Biovac, a prominent South African biopharmaceutical company. The IFC’s investment comprises a loan equivalent to $7 million rand, aimed at supporting Biovac’s…
Copia Global has raised $20 million in a Series C extension round led by Enza Capital. Other participants in the funding round include global private bank LGT, investment firm Goodwell Investments, the U.S. International Development Finance Corporation (DFC), German financial service provider DEG, Swiss impact fund Elea, Perivoli Foundation and…
In a groundbreaking move for the African continent, Kenya’s BURN has successfully sold the first-ever carbon credit futures tied to emissions reductions achieved through the deployment of efficient cook-stoves. The company, renowned for manufacturing and distributing over four million environmentally friendly cook-stoves across Africa, marked this significant milestone by selling…
WhatsApp announced that it is rolling out the ability to pin chats within one-on-one and group conversations. This means that you should be able to pin a poll, a picture, or even a video to remind yourself of things that matter to you. Users can only pin one chat at…
On Monday, President Tinubu commissioned 107 electric/gas buses, and taxis in Borno State for a mass transit scheme and it is being lauded as one of Governor Babagana Zulum’s government ways of cushioning the impact of the fuel subsidy removal. The fleet of vehicles that make up the mass transit…
The Central Bank of Nigeria (CBN) has implemented a new directive to halt the processing charges previously applied to substantial cash deposits by banks, financial institutions, and non-bank financial institutions. Effective immediately, the suspension impacts individual account deposits exceeding N500,000 and corporate account deposits surpassing N3,000,000. Previously, these deposits incurred…
BURN Manufacturing (BURN), a global leader in clean cookstove manufacturing, distribution, and carbon-offset projects has received $10 million from the Africa Go Green Fund (AGG), managed by Cygnum Capital Asset Management. The funding aims to support BURN’s distribution of clean cookstoves to households in Mozambique, Nigeria, and the Democratic Republic…
Aleph, a global ecosystem of digital experts and technology-driven solutions, has joined forces with Audiomack, the New York-based audio streaming platform, in an exclusive partnership that designates Aleph as Audiomack’s Authorized Sales Partner in Nigeria and Ghana. This collaboration underscores Aleph’s dedication to fortifying its footprint and strategy in Sub-Saharan…
WIC Capital has successfully obtained a $1 million loan from FSDAi Nyala Facility, aiming to bolster its efforts in supporting women-led businesses across Francophone Africa. FSDAi Nyala Facility is a partnership with the Collaborative for Frontier Finance (CFF) and the Facility Manager, Nyala Venture, a Joint Venture of Cardano Development…