Author: Tapiwa Matthew Mutisi

The International Finance Corporation (IFC) has announced an investment in Filmmakers Mart (FMM), Africa’s first integrated digital production platform, to enhance access to production services across the continent’s growing film and entertainment industry. This marks IFC’s first investment in Nigeria’s audiovisual sector and its first co-investment with Sony Innovation Fund Africa. FMM is designed to streamline…

Kasada, the pan-African hospitality investment platform, has successfully closed a €15 million debt facility from the Africa Go Green Fund (AGG), managed by Cygnum Capital. This financing will support the development of a greenfield hospitality project in Abidjan, Côte d’Ivoire, reinforcing Kasada’s commitment to sustainable and environmentally conscious hospitality across Africa. The upcoming development will be located…

Alaan, a UAE-based AI-driven spend management platform, has raised $48 million in Series A funding, marking one of the largest fintech funding rounds in the MENA region. The round was led by Peak XV Partners (formerly Sequoia Capital India & SEA), with participation from Y Combinator, 468 Capital, Pioneer Fund, and prominent founders from leading regional…

The Foschini Group (TFG) has reported a significant increase in sales, driven largely by its acquisition of UK-based fashion retailer White Stuff. The acquisition, completed in October 2024 through TFG’s UK subsidiary, added a well-established brand with over 100 standalone stores and approximately 50 concessions across the UK to TFG’s portfolio. Founded in 1985, White Stuff is known…

The Young Women in Business Network (YWBN) Mutual Bank has officially rebranded as eNL Mutual Bank, following the South African Reserve Bank’s Prudential Authority gazetting the name change on Friday, 25 July 2025. The change took effect on 1 July 2025. The new name pays tribute to the bank’s founder and managing…

Airtel Nigeria has announced that it is working closely with smartphone manufacturers to reduce the cost of 5G-enabled devices, as part of a broader strategy to make next-generation internet access more affordable and accessible to Nigerians. Speaking at a media briefing on Tuesday, August 5, 2025, Airtel Nigeria CEO, Dinesh…

Seychelles-based fintech startup Fusepay has successfully raised $350,000 in pre-seed funding to modernize business-to-business (B2B) payment systems across the Indian Ocean islands. The funding round was led by Hustle Fund, with additional participation from Everywhere Ventures, First Check Ventures, Startup Istanbul, and angel investor Ryan Nesbitt. “Our mission is to build modern financial and payment solutions for the underserved…

In a surprising financial twist, MTN Ghana has reported a profit after tax of ₵3.6 billion ($327 million) for the first half of 2025, outpacing MTN Nigeria’s ₦414.9 billion ($271 million) by a margin of $56 million. The figures were shared by MTN Ghana CEO Stephen Blewett via LinkedIn, highlighting a 20% lead over the group’s largest market. Ghana’s…

Airtel Nigeria has announced plans to construct what it claims will be Nigeria’s largest data centre, directly challenging MTN’s recently launched $235 million Sifiso Dabengwa Data Centre, currently recognized as the biggest Tier III facility in West Africa. At a recent media briefing, Airtel Nigeria CEO Dinesh Balsingh and Director of Airtel Business Ogo Ofomata unveiled…

After stepping down as CEO of X (formerly Twitter), Linda Yaccarino has taken on a new leadership role as CEO of eMed Population Health, a digital health startup focused on supporting patients using GLP-1 medications like Ozempic for weight management and type 2 diabetes. Yaccarino, a former advertising executive at NBCUniversal, spent two…

Visa, a global leader in digital payments, has announced the 22 innovative startups selected for the fourth cohort of its Africa Fintech Accelerator Program. This initiative is part of Visa’s broader commitment to advancing financial inclusion and digital transformation across the continent, underpinned by its $1 billion pledge to Africa’s digital economy by 2027.…

Flat6Labs, the prominent Egypt-based startup accelerator, has announced the formation of F6 Group, a newly structured entity that consolidates its accelerator programs and introduces a dedicated venture capital arm, F6 Ventures. This strategic evolution marks a significant step toward expanding Flat6Labs’ role in early-stage startup funding across the Middle East and Africa…

Flood, a pioneering superapp-as-a-service platform, has successfully raised an additional $2.5 million in seed funding to fuel its next phase of growth. This latest round, led by venture capital firm CRE.vc and supported by a group of strategic angel investors, builds on the company’s earlier $1 million seed round completed…

South African payment services provider Peach Payments has announced a strategic partnership with MoneyBadger, a leading bitcoin and cryptocurrency payment solutions provider. This collaboration will allow Peach Payments’ merchants to accept payments in bitcoin and a range of other crypto assets, expanding payment options for consumers across the region. Peach Payments is one of Africa’s…

Telecommunications company Telkom has continued its upward trajectory in earnings, fueled by robust growth in data revenues. The telecommunications group recently reinstated dividend payments after posting a substantial profit of R7 billion for the 2024/25 financial year. This positive momentum carried into the latest quarter, with earnings continuing to rise. “We are pleased…

The Egyptian government has reportedly given TikTok a strict three-month deadline to align its operations with the country’s legal framework and cultural values or risk being banned. This ultimatum was revealed by Ahmed Badawi, a member of the House of Representatives’ Telecommunications Committee, following a high-level meeting involving key stakeholders. The meeting…

Nedbank has successfully concluded a major organizational restructuring initiative, aimed at enhancing profitability and operational efficiency in the face of a challenging economic climate. The restructuring focused on streamlining its Retail and Business Banking (RBB) and Nedbank Wealth divisions, aligning them more closely with client needs and market dynamics. CEO Jason Quinn confirmed that the…

The National Bank of Ethiopia (NBE) has officially banned four U.S.-based money transfer companies, Shgey Money Transfer, Adulis Money Transfer, Ramada Pay (Kaah), and TAAJ Money Transfer, for allegedly operating without proper licenses and facilitating unauthorized cross-border transactions. These companies, widely used by the Ethiopian diaspora in states like Maryland,…

Mediterrania Capital Partners (MCP), a leading private equity firm focused on growth investments in North and Sub-Saharan Africa, has announced a significant investment in Dislog Dispositifs Médicaux (DDM), the healthcare division of Morocco’s Dislog Group. The investment, totaling MAD 540 million (approximately USD 59 million), was made in partnership with CDG Invest Growth,…

Wuilt, a Cairo-based startup specializing in e-commerce infrastructure, has successfully raised $2 million in fresh funding to accelerate its growth and regional expansion. The investment round was led by Flat6Labs and MTF VC, both of which had previously backed the company. Additional support came from Hub71, JIMCO (the venture capital arm of Abdul Latif Jameel), Purity Tech, and a…