Author: Staff Writer

Fez Delivery, a Nigerian last-mile logistics startup announced that it has raised $1 million in an investment round led by pan-African investor Ventures Platform. Other investors that participated in the seed round include Voltron Capital, Acasia Ventures and other angel investors. Founded in 2020 by CEO Seun Alley, CTO Femi…

When you want to start a business in Ontario, one of the most important decisions is to select a company entity. And the common form of business among entrepreneurs in Ontario is corporations. This involves creating a legal entity separate from its members. In other words, the business you establish…

Global consulting giant, Accenture, announced that it plans to let go of 19,000 employees in response to the gloomy economic situation. According to a filing on Thursday, the Irish-American professional services company plans to allocate $1.2 billion towards severance packages for reducing its workforce by 2.5% over the next 18…

Verod-Kepple Africa Ventures (VKAV) announced that it has raised $43 million in its ongoing fundraising for its pan-African venture fund. The fund’s initial backers include institutions such as SBI Holdings, Toyota Tsusho Corporation, and individual investors such as Mr. Osamu Kaneda. Launched in 2022, Verod-Kepple Africa Ventures (VKAV) is a…

Rwazi, a market development startup, has raised $4 million in a funding round led by Bonfire Ventures, with participation from Newfund Capital, and Alumni Ventures. Launched in 2021 by Eric Sewankambo and Joseph Rutakangwa, Rwazi is a market intelligence platform that provides companies with actionable data from developing markets on who…

It seems that these tech layoffs are still going to continue for a while. Tech giant, Amazon, announced, that it intends to eliminate about 9,000 more positions in the next few weeks—mostly in AWS, PXT, Advertising, and Twitch. In a message made available to its employees on the 20th of…

Liquid Intelligent Technologies has announced the acquisition of Egyptian based Cysiv MEA, formerly known as SecureMisr to extend its operations into Middle East and Africa. Cysiv MEA specialises in providing enterprise cloud and cyber security services to some of Egypt’s leading companies, particularly in the financial services sector. The London-based…

Credable, a digital banking startup announced that it has raised $2.5 million in a funding round led by Pan-African early-stage VC firm Ventures Platform. Other participants include Launch Africa, MAGIC Fund, ACASIA Ventures, AAIC Investment, Adaverse/Emurgo Africa and other strategic angel investors. Founded in 2021 by Nadeem Juma, Jad Abbas, and…

The fast development of technology has changed the face of the academic sector. Classroom mechanization has improved student engagement and learning. During the last few years, school automation has advanced in ways that potentially benefit education. It depends on each region, but overall, it’s going forward daily throughout the whole…

Tech giant, Amazon, has unveiled a trio of satellite receivers as part of the company’s “Project Kuiper” internet service to compete with SpaceX’s Starlink. Amazon’s Project Kuiper is the company’s low Earth orbit (LEO) satellite network set up to bridge the digital divide by providing fast, affordable broadband to communities…

MTN Nigeria is seeking to merge two businesses – MoMo PSB and Yello Digital Financial Services. This proposal is set to deliberated in the company’s next Annual General Meeting holding on the 18th of April, 2023. The proposal specified in the “Explanatory Notes To The Resolutions To Be Proposed At…

The Nigerian Power sector is set for a dramatic change with President Muhammadu Buhari signing into law the constitutional amendment allowing states in the country to licence, generate, transmit, and distribute electricity. The President signed this Constitutional Amendment Bill as part of 16 others, into law, giving State Houses of…

Finding ways to be innovative is the best way to succeed in business. Not only does it promote growth, but it can also help you become more creative and stay one step ahead of your competitors. And while saying you want to be more innovative is easy enough, being able…

Every entrepreneur knows how marketing their products or services is important for their businesses to survive. Without marketing, your products or services won’t reach the target market. In other words, no customers will come to know about your offerings on the market. As such, you won’t generate sales, so building…

There has been rumours and even a Bloomberg report that Chipper Cash is thinking of selling the company. Bloomberg reported recently that the Africa-focused fintech company that was backed by Silicon Valley Bank and cryptocurrency exchange FTX, is weighing options including exploring a sale or seeking new investors. The report was published…

The African Development Bank and partners have launched a $618 million Investment in Digital and Creative Enterprises (iDiCE) programme to support tech and creative sectors in Nigeria The iDICE initiative, with a total investment of $618 million, is set to attract direct investments in over 200 technology and creative start-ups, while…

The United States of America under the Biden administration has requested Chinese internet giant, ByteDance, to sell TikTok or risk facing an outright ban in America. According to a report from the Wall Street Journal, the recent demand was made by the Committee on Foreign Investment in the U.S., or…

Wow! 10,000 employees are to be rendered jobless in Meta’s second round of layoffs. While we were still smarting over 11,000 Meta employees laid off in the company’s first round of layoffs announced in November 2022, Mark Zuckerberg announced that Meta is reducing its workforce by around 10,000 people and…

Y Combinator has announced that it would be decreasing the amount of late stage investing to focus more on early stage investing which it is primarily known for. The company made this known in a blog post by Garry Tan, its President & CEO. According to him, “YC is rightly…

Naspers Foundry, a R1.4 billion investment vehicle set up by South African eCommerce giant Naspers, has shut down. According to a BusinessDay report, Naspers did this as it slims operations in the light of dismal venture capital fortunes. Naspers Foundry invests in early-stage technology companies that seek to address big…