Author: Tapiwa Matthew Mutisi

Applications are now open for the Africa Tech Startup Forum, an acceleration programme aimed at equipping tech startups with the essential skills, exposure, and opportunities needed for growth. The programme is funded by the Korea Africa Economic Cooperation (KOAFEC) Trust Fund via the African Development Bank’s (AfDB) Innovation and Entrepreneurship…

Mastercard in partnership with Women Choice – an international organization devoted to promoting women’s individual and professional growth – is set to invest more in the development of women entrepreneurs in Africa and the Middle East with the launch of two new programmes, ImpactHer and EmpowerHer. Previously, Women Choice initiated…

The Nigerian Exchange Group (NGX), previously known as the Nigerian Stock Exchange, has acquired an undisclosed equity stake in Ethiopia’s inaugural securities exchange, the Ethiopian Securities Exchange (ESX). This acquisition followed a fundraising initiative that started in mid-2023, collecting 1.51 billion birr ($26.6 million), surpassing the initial goal by an…

Kenya has introduced a draft of its National E-mobility Policy aiming to promote domestic production and assembly of electric vehicles (EVs). Once ratified, this policy will establish emission-free vehicle sales quotas, and lay down investment guidelines for native car manufacturers and assemblers, making them eligible to gain government incentives. Besides…

The Commercial Bank of Ethiopia (CBE) has taken an unorthodox approach towards its customers who supposedly did not return extra money credited to their accounts due to a technical glitch. The bank has gone as far as displaying posters featuring images of these alleged culprits outside its branch locations. The…

The Federal Government of Nigeria has revealed plans to introduce a payment-integrated ID card. This initiative, overseen by the National Identity Management Commission (NIMC), aims to provide both social and financial services. The proposed operation includes partnerships with the Central Bank of Nigeria (CBN) and the Nigeria Interbank Settlement System…

Artifact, a news aggregation and recommendation app developed by Instagram’s co-founders, has been purchased by Yahoo. The standalone operation of Artifact will be discontinued following the acquisition. In the forthcoming months, Artifact’s artificial intelligence (AI) personalization technology and other capabilities will be absorbed into Yahoo News and other related products.…

Baobab Network, an early-stage investor supporting startups across Africa, has today announced its acquisition of Reflector Marketing, a South African-based strategy and branding agency. Reflector Marketing, a specialist agency offering strategic marketing, branding, and digital services for startups, has been acquired by Baobab Network, an early-stage investor in Africa. Launched…

The Trade and Development Bank (TDB), a major financial institution focusing on African development, has received a $100 million funding package from British International Investment (BII), the UK’s development finance division. The investment is intended to bolster economic resilience in Africa, foster agricultural development, and tackle issues related to food…

In 2023, Nigeria’s largest commercial bank by assets, Access, reported a substantial increase in losses due to fraud and forgery, rising to ₦6.15 billion from ₦1.44 billion the previous year. The majority of these losses (80%) resulted from fraudulent transfers, withdrawals, and reactivation, while embezzlement accounted for 29%, involving cash…

Ghana-based remittance and mobile money service provider, Zeepay, has secured a $3 million equity investment from investor Verdant Capital Hybrid Fund. This is Verdant’s fourth funding round in the fintech company over the past two years. Consequently, Zeepay, which has raised over $23 million since its inception a decade ago,…

AfriLabs in partnership with the African Union (AU) has unveiled the second edition of the AU Tech Fellowship initiative. The initiative builds on the success of the first edition and aims to further exploit technology and innovation for socio-economic progress across Africa. AfriLabs is an organization that pushes for innovation…

South African-based startup RNR, an on-demand breakdown management platform for truck fleets, has secured ZAR12 million (US$640,000) in funding aimed at expanding its team and extending its reach in Southern Africa. Established in 2019 by founders Wayne and Michelle Witherspoon, RNR, which stands for “Right Now Response”, uses technology to…

Kenyan fintech startup, Triply, has been selected to participate in the Y Combinator’s winter 2024 batch. The company, which offers payment solutions for travel businesses, is not the only African startup in the accelerator program; it joins Cleva, a cross-border payment service, and Miden, an API startup. In Africa, small…

BURN Manufacturing (BURN), a prominent clean cookstove production company based in Kenya, has successfully raised upwards of $12 million in funding, with the primary aim of amplifying the distribution of its clean cooking products throughout Africa. This funding is the result of a successful follow-on carbon project investment initiative, which…

Samsung is contemplating the integration of generative artificial intelligence technology into its voice assistant Bixby, a top-ranking company executive disclosed to CNBC. This move would be part of the South Korean tech leader’s ongoing efforts to increase the desirability of its products. Released alongside the Galaxy S8 smartphone in 2017,…

Amazon is set to make the biggest external investment in its 30-year history, as it seeks to secure a leading position in the fast-growing field of artificial intelligence (AI). The Seattle-based e-commerce behemoth has announced its intention to inject an additional $2.75 billion into Anthropic, the San Francisco start-up recognized…

Namibia will be investing approximately $5.9 million (N$110 million) over the next three years in a project to set up telecom towers around the country. This move was made public by the Minister of Information and Communications Technology (ICT), Emma Theofelus, who stated that 30 network towers will be installed…

The Southern African Music Rights Organization (SAMRO) has reported the distribution of over R33 million in digital platform royalties to its members in the fiscal year 2024. SAMRO professed this move to underline its continuous commitment to guaranteeing that its musicians are adequately compensated for their works used by digital…

The use of Microsoft’s Copilot has been officially banned on government-issued devices used by U.S. Congressional staff, Axios reported. Key reasons behind this prohibition, as outlined in a memo from House Chief Administrative Officer Catherine Szpindor, are concerns around cybersecurity and threats of potential leakage of House data to non-approved…