IBM has completed the $60 million acquisition of Polar Security, an innovator in technology that helps companies discover, continuously monitor and secure cloud and software-as-a-service (SaaS) application data – and addresses the growing shadow data problem. Founded in January 2021, Polar Security is a pioneer of data security posture management…
Author: Oluwasegun Olukotun
Nigeria’s financial services institution, Access Bank has established a new subsidiary in Paris, France to help boost trade and investment between Africa and Europe. The move is a testament to the bank’s commitment to strengthening cross-border trade and investment between Africa and the world, connecting businesses to opportunities within the…
Tech-driven Human Resource company, Shortlist in partnership with the African Management Institute (AMI) have launched the Energy Access Talent Initiative (EATI), a new £2.5 million collaboration dedicated to training and securing employment in the clean energy sector for over 1,600 African youth across sub-Saharan Africa. The initiative is focused on building…
The African Development Bank (AfDB) has apportioned $11.7 million to the African Fertilizer Financing Mechanism (AFFM) to facilitate access to fertilizers for African farmers. The AfDB’s latest budgetary approval adds up to $16.4 million extended to the Facility to support its 2023 budget. It includes $4.7 million, which was carried…
Deal Source Africa, a robust program designed to link African businesses with investors and transaction advisors and African Impact Funds with investors has officially launched. The launch took place at the West Africa Deal Summit held in Accra on May 17. The program will help to bridge the $331 billion…
Early-stage company, Amini, committed to solving Africa’s environmental data gap through artificial intelligence and satellite technology has secured $2Million pre-seed funding in an oversubscribed round led by Pale Blue Dot, a leading European Climate Tech fund. Other investors include Superorganism, RaliCap, W3i, Emurgo Kepple Ventures and a network of angel…
Gricd, a technology company that develops Internet of Things-powered solutions to support the last-mile delivery of perishable goods, has secured $1.5 million in a seed funding round led by Atlantica Ventures, with participation from Vested World, Jaza Rift and Katapult, to expand across Africa and deliver new solutions that will…
M-KOPA, a leading fintech platform, today announced it successfully closed over $250m in new debt and equity funding to expand its financial services offering to underbanked consumers across Sub-Saharan Africa. This marks one of the largest combined debt and equity raises in the African tech sector, enabling M-KOPA to continue…
Africa’s super app ayoba today announced it had surpassed the 25 million monthly active users mark as it celebrates its fourth anniversary. This significant milestone spells a great deal of progression for the super app which hit the 20 million active users’ mark in December 2022. The platform is available…
Egypt’s fintech Balad has raised a seven-figure pre-Seed round led by Acasia Ventures. Other investors in the round included Launch Africa, Future Africa, V&R, Magic Fund, First Circle, Sunny Side, and several family offices. This is the fintech’s first funding round. Founded in 2022 by Adham Azzam, Sally Asaad and…
Saudi Arabia-based mobility solutions platform Morni has invested in its Egyptian counterpart, Helpoo. The deal, whose value is undisclosed, was facilitated by Exits.me, a mergers and acquisitions (M&A) advisory firm. This move by Morni Holding is part of a long-term plan to invest $10 million in the Egyptian market by…
Egypt-based VC fund DisrupTech Ventures has received a $5 million investment from Proparco to support development in Egypt’s fintech sector and help expand access to financial services in the country. Founded in 2021, DisrupTech is an early-stage VC fund that aims to provide Seed capital to up to 28 startups…
Stripe has partnered with Microsoft to enable businesses to accept payments directly in Microsoft Teams. The Microsoft Teams collaboration platform offers video conferencing, voice, messaging, and other embedded tools to more than 300 million global businesses. Stripe will power Teams Payments, allowing meeting hosts to accept real-time card payments during…
The African Export-Import Bank (Afreximbank) has signed a $3 Billion Country Programme with the Government of Kenya. The programme will support viable trade and trade-related investments in Kenya in both the private and public sectors. The financing package will be implemented using several instruments, including loans, guarantee facilities, trade services,…
One of the fastest growing streaming platforms in Africa, Wi-flix has expanded its operations to Zambia following the launch of its attractive packages with mobile telecommunications giant MTN. With success already seen in Kenya, Ghana, and Nigeria, the streaming service is now available to consumers in the southern African country,…
Nigerian platform providing global automotive spare parts and vehicle repairs and maintenance services, Mecho Autotech, has announced it will launch a version v2.0 of its vehicle management app that connects vehicle owners to qualified and vetted mechanics in the third quarter of this year. The company also disclosed it will…
Mastercard and IT banking solutions company, egabi FSI have teamed up to expand financial institutions and non-traditional partners’ access to new embedded finance and digital lending products across Africa, the Middle East and Eastern Europe. Embedded finance enables consumers access to financial services even if they are on non-financial platforms…
Tunisia-based e-commerce platform Drest.tn has raised $336,000 from 216 Capital Ventures. The fundraising round will enable Drest.tn to continue its growth and expand into the African market. Since the creation of its website in June 2020, Drest.tn has stood out in the Tunisian market by offering a complete range of…
Kaspersky has revealed in its Digital Payment survey that 37% of respondents from Nigeria experienced financial losses associated with threats when using online banking and mobile wallet services. The majority of users (97%) lost up to $1,000 equivalent as a result of these incidents, while 3% of the respondents reported…
Web3 technology company, OKX has launched a new interactive metaverse avatar campaign with the English Premier League champions, Manchester City. The new experience at playforthecity.com allows fans to personalise their digital avatars in Manchester City training kits and pre-match warm-up apparel with OKX branding. To mark the kick-off, a hero…