Author: Tapiwa Matthew Mutisi

AfriLabs, a prominent Pan-African network of innovation and technology hubs, has successfully secured a generous donation of US$150,000 from the Airbnb Community Fund. This funding marks a significant milestone in AfriLabs’ ongoing mission to foster innovation and entrepreneurship across the African continent. As a network organization, AfriLabs is dedicated to…

Digital payments gateway Peach Payments has announced its acquisition of the Senegalese payment platform PayDunya, marking a significant milestone as it enters the Francophone African market. This move follows Peach Payments’ previous expansions into Eswatini, Mauritius, and Kenya, further solidifying its position as a key player in the African digital…

Nedbank, one of South Africa’s leading financial institutions, has officially opened applications for the 15th edition of its highly regarded Pitch & Polish competition. This initiative provides ambitious business owners across South Africa with a unique opportunity to compete for a substantial prize valued at ZAR1 million (approximately US$50,000). Over…

Nairobi-based venture studio Purple Elephant Ventures (PEV), which focuses on the tourism sector, has successfully topped up its seed funding round by an additional $500,000, bringing the total amount raised to an impressive $5 million. This strategic funding boost positions PEV as a significant player in the African tourism-tech landscape.…

Paytic, an innovative fintech company dedicated to modernizing payment operations for banks, fintechs, and payment processors, has successfully secured $4 million in seed extension funding. This investment round was spearheaded by AfricInvest through its Cathay AfricInvest Innovation Fund (CAIF), with additional participation from notable investors including Build Ventures, Axian Group,…

Village Capital, a global leader in early-stage impact investing, has officially launched the second edition of its Greentech Africa accelerator programme. This initiative is designed to support 10 to 15 innovative startups from Egypt, Kenya, Nigeria, Senegal, and South Africa that are focused on developing scalable solutions to address the…

DOB Equity has made a strategic investment in FarmWorks, an innovative agribusiness company based in Kenya that is dedicated to creating reliable off-take channels for smallholder farmers’ produce. This investment is poised to significantly bolster FarmWorks’ capabilities by expanding its sourcing network, enhancing its technology platform, and diversifying its product…

The International Finance Corporation (IFC), the private investment arm of the World Bank, has announced a significant investment of $100 million in Raxio Group, aimed at bolstering the development of data centers across Africa. This substantial funding is set to facilitate the construction of data facilities in several key countries,…

Verdant Capital has announced a significant boost to its investment in LOLC Africa, with the Verdant Capital Hybrid Fund committing an additional $4.5 million. This latest investment increases the total commitment to LOLC Africa to $13.5 million, following an initial investment of $9 million that was completed in June 2023.…

InfiniLink, a semiconductor startup based in Egypt, has made headlines with the successful completion of a $10 million funding round aimed at enhancing its innovative optical data connectivity solutions tailored for AI-driven data centers. Founded in 2022, InfiniLink specializes in developing advanced silicon photonics technology, particularly focusing on integrated optical…

Nigerian edtech startup AltSchool Africa has unveiled an ambitious new initiative aimed at enhancing access to artificial intelligence (AI) education across the African continent. Dubbed “AI for 10M Africans,” this program seeks to train a staggering 10 million individuals at various educational levels, ensuring that a diverse range of learners…

Elon Musk’s artificial intelligence startup, xAI, has successfully acquired his social media platform X, previously known as Twitter, in a significant all-stock transaction, as announced by Musk in a post on X this past Friday. In his announcement, Musk stated, “xAI has acquired X in an all-stock transaction.” He elaborated…

The International Monetary Fund (IMF) has officially appointed Tony Elumelu, the esteemed Founder and Group Chairman of Heirs Holdings, to its Advisory Council on Entrepreneurship and Growth. This council is convened by Kristalina Georgieva, the Managing Director of the IMF. The announcement was made public through a press release issued…

The American Society of Mechanical Engineers (ASME) has officially launched the application process for social innovators who are dedicated to scaling hardware technology solutions aimed at tackling pressing global challenges. This initiative is part of the ISHOW accelerator, which falls under the broader ASME Hardware portfolio of programs. The ISHOW…

Tanzania’s Sumet Technologies, an innovative company specializing in the distribution of fast-moving consumer goods (FMCG), has successfully closed a pre-seed funding round, securing US$1.5 million to propel its expansion into key strategic markets. This funding marks a significant milestone for the company as it aims to reshape the FMCG distribution…

Inspired Evolution, a prominent pan-African private equity firm dedicated to clean energy investments, has announced the successful final close of its Evolution III Fund, which has garnered total commitments amounting to $238 million. This significant milestone marks a crucial step in the firm’s mission to drive sustainable energy solutions across…

Capitec Bank has officially announced that its Chief Executive Officer, Gerrie Fourie, will retire during the bank’s annual general meeting scheduled for 18 July 2025. Fourie has been an integral part of the executive management team for an impressive 25 years, playing a pivotal role in the bank’s evolution from…

Telkom has officially completed the sale of its masts and towers business, known as Swiftnet, to a consortium spearheaded by Actis and Royal Bafokeng Holdings. This strategic move marks a significant shift in Telkom’s operational focus and financial strategy. In this consortium, Actis holds a commanding 70% stake in Towerco…

South African AI startup NOSIBLE has successfully raised US$1 million in pre-seed funding to enhance its growth marketing initiatives, expand its sales operations, and expedite its go-to-market strategy. Founded in 2020 by Stuart Reid, NOSIBLE is an emerging player in the AI sector, offering two primary products: a robust search…

Lipa Later, a prominent Kenyan buy-now-pay-later (BNPL) fintech company, has officially entered administration as of March 24, 2025, following a protracted period of financial difficulties and unsuccessful attempts to secure additional funding. Joy Vipinchandra Bhatt from Moore JVB Consulting LLP has been appointed as the administrator to oversee the company’s…