Global provider of fintech, cloud communications and traditional communications services, IDT Corporation has announced it is rebranding its Africa-based Leaf Wallet app to IDT’s flagship financial services brand, BOSS Money. The rebranding is part of a broader initiative to leverage the key technologies of Leaf Wallet to gradually expand across…
Author: Oluwasegun Olukotun
Egypt’s Healthtech startup Yodawy has secured $16 million in the first close of its Series B round, bringing the total amount raised to date to $24.5 million. The round was co-led by Delivery Hero Ventures and Global Ventures, with participation from AAIC Investment and returning investors MEVP, C-Ventures and P1 Ventures.…
The International Finance Corporation has partnered with Rawbank, a leading bank in the DRC, to improve access to finance for the country’s micro, small, and medium-sized enterprises (MSMEs), supporting growth and job creation in the country. Under the partnership, IFC will provide a loan of up to $35 million to…
Agritech company, ThriveAgric, has recently emerged as the West African winner of the annual AYuTe Africa Challenge, receiving a $1m grant prize as reward. Organised by Heifer International, the Agriculture Youth Technology (AYuTe) Challenge was set up to support young entrepreneurs working to scale food security on the continent by…
Morocco’s B2B e-Commerce startup Chari has raised $1 million from Orange Ventures. As part of the deal, Grégoire de Padirac, partner of Orange Ventures Middle East and Africa will join Chari’s supervisory board. Founded in 2020 by Ismael Belkhayat and Sophia Alj, Chari lets retailers purchase large quantities of inventory…
Egypt’s CRM platform Gameball has secured a $3.5 million Seed round led by 500 Global, Africa-focused funds P1 Ventures and Launch Africa, as well as Middle East firms Seedra Ventures, Arzan Ventures, Propeller and Core Vision, alongside regional angel investors. Gameball’s platform is a powerful marketing solution, enabling omnichannel retailers…
Social impact investor Oikocredit has granted a loan facility of $2.6 million to MyCredit Limited. MyCredit is a non-bank financial institution in Nairobi, Kenya with over 10,000 customers. Through this new partnership with Oikocredit, MyCredit will fulfil its mission to support businesses and local communities to achieve greater financial freedom…
Africa’s mezzanine fund manager, Vantage Capital has announced today the successful final close on its fourth mezzanine fund. A total of $377 million of commitments has been secured from a mix of European and US-based commercial investors, as well as a host of development finance institutions (DFIs) that include IFC,…
Untapped Global Launches Climate Action Initiative to Accelerate Adoption of Electric Vehicles Across Africa Untapped Global, an innovative investment company focused on emerging markets, announced today the launch of its Climate Action Initiative with the support of a growing Consortium of partners. Untapped’s Smart Asset Financing investment model provides asset…
eBay has partnered with Notable Live, a digital platform that fosters exceptional fan experiences, to enhance the way fans and sports collectors engage with players, leagues and teams. Combining the forces of eBay’s collectibles marketplace with Notable Live’s interactive “in the room” experience will provide fans with a new channel…
The International Finance Corporation (IFC) has granted a loan of $30 million to Union Bank of Nigeria Plc to increase trade financing and working capital lending to Nigerian businesses, including those whose cashflows have been strained by recent disruptions in global and local markets. The funding will help Union Bank…
Cellulant has partnered with Money Q, a Dubai-based fintech organization to provide expatriates with the ability to pay bills and recharge airtime for their recipients around the continent. Money Q’s Africa-spanning digital payments platform, KrosPayz, will now enable customers to perform online payments for goods and services at the point…
Netflix has announced it has added new features at no additional cost to its premium plan. Members who are already on the plan can upgrade to enjoy the updated plan. The features are also available for those signing up for the first time. Netflix’s Premium plan already offers the highest…
The Sustainable Energy Fund for Africa (SEFA) has disclosed it is providing a $1 million technical assistance grant to the Green Mobility Facility for Africa (GMFA). GMFA provides technical assistance and investment capital to accelerate and expand private sector investments in sustainable transport solutions in seven countries: Kenya, Morocco, Nigeria, Rwanda,…
Morocco’s fintech startup Gwala has secured an undisclosed pre-seed round. Founded in 2022 by Mossaab Abaouz, Gwala provides an on-demand payment solution for employees and employers. The app enables employees to have instant access to their earned wages once transferred to get better visibility of their finances and grow financial…
Releaf, a technology company that makes it easier for consumer goods manufacturers in Africa to access high-quality ingredients for their factories, has raised $3.3 million in an oversubscribed Pre-Series A funding round. The funding round was led by Samurai Incubate Africa, who re-invested after leading Releaf’s seed round, with participation…
Gridworks, the UK government-backed investor in Africa’s electricity networks has announced it will invest up to $50 million in Virunga Power. Virunga Power develops, invests and operates hydro-backed distributed renewable power generation projects and grid distribution networks that bring reliable and sustainable electricity to rural communities and businesses in East…
Egypt’s B2B fresh produce digital platform Mahaseel Masr has raised funding from Emirates International Investment Company (EIIC). The fresh infusion of capital will be used to accelerate the deployment of its e-commerce platform, and enhance its product offering and supply chain operations. Founded in 2020 by Mohamed Abdel Rahman, the…
EDFI ElectriFI has given a $4.5 million working capital facility to Okra Solar to provide access to electricity through the mesh-grid technology to mini-grids developers, targeting some 76 000 beneficiaries by the end of 2025.Launched in 2016, Okra Solar develops mesh-grid technology, composed of their proprietary Okra Pod and sold…
Pan-African Energy-as-a-Service company, Solarise Africa has received $ 3 million from EDFI ElectriFI to provide tailored financing solutions for decentralised energy solutions to selected commercial and industrial (C&I) customers across the continent. The funding will advance Africa’s access to clean energy. Geraldine Crosset, ElectriFI Senior Investment Officer at EDFI MC…