Author: Tapiwa Matthew Mutisi

Moroccan regtech startup VOVE ID has successfully secured new investment from The Baobab Network, a significant step aimed at accelerating its growth across Africa and the Middle East. While the exact amount of funding has not been disclosed, this investment represents a pivotal milestone for the high-end digital identity verification…

Private equity investor Development Partners International (DPI) has officially announced the launch of DPI Venture Capital, a new initiative aimed at targeting investments in early-stage, growth-oriented technology businesses across the African continent. This strategic move reflects DPI’s recognition of the significant opportunity to support nascent companies and further its mission…

The European Union, in collaboration with the Government of Togo, has officially opened applications for startups eager to present their ideas at the upcoming BlueInvest Africa event, scheduled to take place in Lomé, Togo, on October 15-16. BlueInvest Africa serves as a premier platform designed to connect innovative African entrepreneurs…

FSD Africa Investments (FSDAi), a specialist development finance investor backed by the UK, has announced a significant investment of £10 million (approximately $13.2 million) into ARM-Harith’s Climate and Transition Infrastructure Fund. This strategic investment aims to unlock local institutional capital specifically for climate infrastructure projects in Nigeria. The investment from…

Egyptian quick commerce (q-commerce) startup Rabbit has successfully secured an undisclosed amount of funding from prominent blue-chip investors, marking a significant milestone in its growth trajectory. In addition to this financial backing, Rabbit has made a strategic move to expand its operations into the Saudi market by establishing a regional…

The African Private Capital Association (AVCA) has officially released its highly anticipated 2024 Venture Capital in Africa Report, providing a comprehensive analysis of the venture capital landscape across the continent. In 2024, Africa attracted a total of $3.6 billion in venture capital funding, which included $1 billion sourced from venture debt. However, the report highlights…

Futuregrowth Asset Management, a prominent player in South Africa’s financial sector, has officially announced the appointment of Vuyolwethu Nogantshi as its new Chief Executive Officer (CEO), a transition set to take effect in July 2025. This strategic move is part of the company’s ongoing efforts to strengthen its leadership and…

Africa-focused fintech company OPay has achieved a significant milestone, with its valuation now reaching $2.75 billion, as reported in recent regulatory filings from its minority investor, Opera Limited. While this increase in valuation is noteworthy, the filings also highlight a significant slowdown in unrealized fair value gains associated with OPay.…

On Monday, Meta Platforms CEO Mark Zuckerberg took the stand in a pivotal trial in Washington, D.C., where U.S. antitrust regulators are challenging the company’s acquisitions of Instagram and WhatsApp. The Federal Trade Commission (FTC) alleges that Meta spent billions on these purchases to eliminate competition and maintain its dominance…

On Monday, the small African kingdom of Lesotho officially granted a license to the satellite internet service Starlink, owned by tech billionaire Elon Musk. This decision came just hours after the government denied allegations that it was hastily advancing the licensing process in exchange for favorable trade concessions from the…

In a significant development for the telecommunications sector in South Sudan, MTN South Sudan has successfully secured a new operating license from the National Communication Authority. This license grants the company the right to operate within the country for an extended period of 15 years, despite the ongoing challenges posed…

On Monday, President Cyril Ramaphosa officially announced the appointment of Mcebisi Jonas, the former deputy minister of finance, as a special envoy to the United States. This role positions Jonas as the official representative of both the president and the government of the Republic of South Africa in the US.…

The Agence française de développement (AFD) has announced an additional contribution of €3 million to the Africa Digital Financial Inclusion Facility (ADFI), which is managed by the African Development Bank (AfDB). This new funding aims to accelerate financial inclusion efforts across the African continent. With this latest contribution, the total…

MTN Group, recognized as Africa’s largest telecommunications service provider, has announced a strategic partnership with Meta, the parent company of Facebook, to enhance the quality and reliability of voice and video calls on real-time communication applications, including WhatsApp. This collaboration will impact 12 of MTN’s operational markets across the continent.…

Safe Superintelligence (SSI), the artificial intelligence startup founded by Ilya Sutskever, who is also a co-founder of OpenAI, has reportedly secured an additional $2 billion in funding, bringing its total valuation to an impressive $32 billion, as reported by the Financial Times. Prior to this latest funding round, SSI had…

Chowdeck, the Nigerian food delivery startup backed by Y Combinator, has made a significant move in its international expansion by appointing Henry Whyte as the head of its operations in Ghana. This strategic hiring is particularly noteworthy as it follows the company’s earlier recruitment of Umar Nas’ir, another senior manager…

Lesotho is currently experiencing a moment of relief following the announcement of a 90-day suspension of the sweeping 50% tariffs, which are the highest in Africa. This temporary reprieve has sparked discussions about the future of U.S. investment in the country, particularly in relation to the controversial Starlink project led…

South African fintech company Stitch has successfully secured an additional $55 million in funding, aimed at enhancing its comprehensive payment solutions for businesses throughout Africa. This strategic investment is poised to strengthen Stitch’s position within the continent’s rapidly evolving payments ecosystem, reflecting the growing demand for innovative financial technologies. Among…

New GX Capital, a prominent investment firm known for its early support of Dark Fibre Africa, is set to launch a significant clean-tech investment initiative with the introduction of the R2.4-billion Airnergize Capital Fund I. This fund is being established in collaboration with RMB Ventures (RMBV) and is poised to…

EFT Corporation has announced the appointment of Mike Smits as the new Group Managing Director. In this pivotal role, Smits will be responsible for spearheading the corporation’s strategic initiatives and fostering collaboration in digital transformation efforts across key markets, including Kenya, the Democratic Republic of the Congo (DRC), and Ethiopia.…