Author: Tapiwa Matthew Mutisi

Sycamore, a prominent Nigerian digital lender managing assets worth ₦10 billion, has recently obtained a fund manager license from the Securities and Exchange Commission (SEC). This strategic move marks a significant expansion beyond its primary lending operations, as the company aims to capitalize on the increasing demand for accessible investment…

Absa has made a significant move in the banking sector by appointing Kenny Fihla, the current CEO of Standard Bank South Africa, as its new group CEO. This announcement was made on Monday, with Fihla set to officially take over the role in mid-June. Kenny Fihla brings a wealth of…

Acknowledging the significant funding gap, accelerator programs such as Cascador are taking proactive measures to tackle these challenges and foster sustainable growth within the ecosystem. Cascador, dedicated to assisting mid-stage entrepreneurs, is introducing a $2 million Catalytic Fund specifically aimed at delivering vital financial resources to its alumni companies. This…

AgDevCo has officially announced its exit from Saise Farming Enterprises through a strategic equity sale to Buya Bamba, a prominent Zambian company specializing in potato production. This transition marks a significant milestone for both organizations and the broader agricultural landscape in Zambia. Saise Farming Enterprises was established in 2016 as…

Ethiopian Airlines Group and the African Development Bank (AfDB) have announced a significant partnership to construct a new airport in Ethiopia, projected to be the largest in Africa, with an estimated cost of $7.8 billion. The parties formalized their collaboration by signing a letter of intent on Friday, as reported…

South African prop-tech startup Preferental has introduced a groundbreaking app designed to transform the tenant screening process, offering a faster, more efficient, and cost-effective solution for landlords and property managers. Founded in 2017 by Ross Fitzcharles, Preferental aims to enhance the efficiency and effectiveness of property management through innovative technology.…

Paratus Group, a prominent telecommunications and network services provider in Africa, has announced a strategic partnership with Tanzania’s Green Telecom to establish Paratus Tanzania. This development comes just four months after the company launched its operations in Kenya, marking a significant milestone in its ongoing expansion efforts across East Africa.…

Starlink, the satellite internet service developed by Elon Musk’s SpaceX, is encountering significant challenges in Southern Africa, particularly in Lesotho. Similar to the situation in South Africa, where Musk has been vocal about his opposition to the country’s telecommunications ownership regulations, Starlink is now facing resistance regarding local equity requirements…

Google is set to transition away from its long-standing virtual assistant, Google Assistant, in favor of its new AI initiative, Gemini. This significant shift was announced in a blog post released by the company on Friday, indicating that a broader rollout of Gemini will begin for “more” users over the…

Go Big Partners and 216 Capital Ventures have announced a strategic joint investment in Juridoc, Tunisia’s leading Legaltech company. This partnership is designed to facilitate Juridoc’s ambitious plans for expansion into the OHADA (Organisation for the Harmonisation of Business Law in Africa) region, which encompasses a consortium of 17 West…

Text messaging between iPhone and Android devices is set to receive a significant upgrade with the introduction of end-to-end encryption (E2EE). This development follows the GSM Association (GSMA) publishing new specifications for the Rich Communication Services (RCS) protocol, which now includes support for cross-platform E2EE. RCS has been a long-term…

Fintech Moniepoint has announced an exciting expansion of its flagship “Women in Tech” initiative, now entering its fifth year. This program aims to empower women in Africa by increasing the number of internship opportunities from 10 to 15, thereby enabling more women to gain valuable hands-on experience in the technology…

Kenya’s data protection authority has levied a fine of KES 250,000 (approximately $2,000) against loan application provider Whitepath for unlawfully designating a user as a guarantor without their consent and subjecting them to harassment. The Office of the Data Protection Commissioner (ODPC) found that Whitepath, which operates the loan applications…

The Nigeria Sovereign Investment Authority (NSIA), in collaboration with Sustainable Energy for All (SEforALL), the International Solar Alliance (ISA), and Africa50, has officially announced a strategic partnership to establish the $500 million Distributed Renewable Energy (DRE) Nigeria Fund. This initiative is aimed at developing and financing distributed renewable energy projects…

Applications are now open for the 15th edition of the Orange Social Venture Prize (OSVP) in Africa and the Middle East, a prestigious initiative designed to foster social innovation and promote entrepreneurship across the region. Since its inception in 2011, the OSVP has been dedicated to recognizing and rewarding innovative…

Botswana has made a significant advancement in the realm of space technology with the successful launch of its inaugural satellite, BOTSAT-1. This landmark achievement not only marks a pivotal moment for the nation but also positions Botswana among a growing cohort of African countries that are increasingly investing in space…

Telkom Kenya has successfully secured a $4.4 million grant aimed at developing Open Radio Access Network (Open RAN) technology, with contributions of $3 million from Rakuten Symphony and $1.4 million from Airspan Networks. This strategic investment is designed to enhance mobile connectivity, reduce infrastructure costs, and promote flexible network architectures…

Global B2B payment platform Nilos has announced its strategic expansion into West Africa, specifically targeting the Ivory Coast, Senegal, Benin, and Togo. This move aligns with the company’s mission to simplify cross-border transactions by introducing instant payouts in the West African CFA franc (XOF) and integrating mobile money services, thereby…

Standard Bank of South Africa Limited (SBSA) is excited to announce the successful closing of a $250 million seven-year unsecured loan from the International Finance Corporation (IFC). This significant funding will enhance Standard Bank’s initiatives aimed at promoting sustainable development through green financing. The allocated funds will primarily support green…

The Africa Women Innovation and Entrepreneurship Forum (AWIEF) has announced a strategic partnership with the African Guarantee Fund (AGF) and FSDH Merchant Bank Limited to launch applications for its flagship AWIEF Growth Accelerator Programme. This initiative is designed to enhance access to finance and markets for women-owned and women-led small…