Author: Tapiwa Matthew Mutisi

Airtel Nigeria, the second-largest telecommunications operator in the country, has announced a significant increase in the prices of its internet and voice plans, raising them by 50%. This decision comes just one week after a similar price hike was implemented by MTN Nigeria. Under the new pricing structure, Airtel’s most…

Frogfoot Network, a licensed open-access infrastructure provider, has successfully acquired the fibre assets of ATC (American Tower Africa), a South African company known for its wireless and fibre infrastructure solutions. This acquisition marks a significant milestone in their long-standing partnership, which has been in place since 2017. Shane Chorley, CEO…

EcoCash Holdings Zimbabwe Limited (EHZL) has announced the appointment of new directors following the resignation of several key individuals within the organization. This significant leadership transition comes as part of the company’s efforts to navigate the evolving landscape of the financial services sector. Eddie Chibi, who has held the position…

Cassava Technologies, the parent company of Liquid Intelligent Technologies and Africa Data Centres, has recently announced a series of significant management changes designed to position the organization for future growth. Under the leadership of its chairman, Strive Masiyiwa, a prominent Zimbabwean businessman, the company is implementing these changes with the…

Startups are encouraged to apply for the Africa Carbon Removal Accelerator (ACRA), an initiative designed to equip participants with in-depth knowledge of carbon dioxide removal (CDR) and to support them on their entrepreneurial journey within this vital sector. The ACRA program is a collaborative effort between Strathmore University and the…

The European Investment Bank (EIB) has made a significant announcement regarding its commitment to fostering economic growth in Africa. The EIB has invested €15 million in the newly launched I&P Afrique Entrepreneurs 3 (IPAE 3) fund, which is managed by Investisseurs & Partenaires. This fund is strategically designed to support…

Madica, an Africa-focused early-stage investment firm with a structured investment program for pre-seed stage companies, has announced its support for four innovative African startups through a total of $800,000 in pre-seed funding. This investment comes at a time when investors are increasingly prioritizing businesses that demonstrate strong revenue traction, particularly…

Egyptian social commerce startup Taager has successfully secured a pre-Series B funding round amounting to US$6.75 million, a significant boost aimed at facilitating its expansion across the MENA (Middle East and North Africa) region and enhancing its technological capabilities. Founded in December 2019, Taager operates as a social e-commerce marketplace…

Ghanaian fintech startup Affinity Africa has successfully raised $8 million in seed funding to further expand its financial products throughout the country, where mobile money remains the predominant financial tool. The $8 million seed round was led by European venture capital firms Grazia Equity from Germany and BACKED VC from…

B2B startup Fincra, which focuses on payment infrastructure that enables remittance companies to facilitate cross-border transactions, has announced the appointment of Emmanuel Babalola as its new Chief Commercial and Growth Officer. This strategic move coincides with Fincra’s transition into a transformative phase of its business operations. Prior to joining Fincra,…

Nigeria-based cross-border remittance company Raenest, which offers multicurrency accounts for freelancers and businesses, has successfully secured $11 million in a Series A funding round, increasing its total funding to $14.3 million. The funding round was led by QED Investors, with participation from Norrsken22, as well as follow-on investments from Ventures…

Sahel Capital, through its Social Enterprise Fund for Agriculture in Africa (SEFAA), has granted a $500,000 working capital loan to Agriarche, a company dedicated to enhancing market access for smallholder farmers in Nigeria. This investment is designed to strengthen the connections between farmers and fast-moving consumer goods (FMCG) companies, thereby…

US-based fintech startup Hurupay has made a significant advancement by launching the first stablecoin-based virtual US dollar accounts tailored for freelancers and remote workers across Africa. Founded in 2023, Hurupay operates as a crypto wallet that allows users to access stablecoins—cryptocurrencies designed to maintain a stable value by being pegged…

Swypt, a decentralized finance platform, has successfully integrated cKES, Kenya’s first decentralized stablecoin, on Mento, a separate decentralized platform pegged 1:1 to the Kenyan shilling. This strategic development underscores a rising trend in Kenya’s fintech industry, where stablecoins are increasingly recognized as viable alternatives to traditional mobile money and banking…

Nigerian HR tech firm Bento has temporarily ceased operations amid allegations of tax and pension irregularities. This follows the resignation of CEO Ebun Okubanjo and the layoff of the engineering team after protests over unpaid January salaries. In an email to stakeholders, the company’s board stated, “We will proceed to…

Morocco-based ToumAI, an innovative company specializing in artificial intelligence technology, has successfully secured EUR 1 million (approximately US$ 1 million) in pre-seed funding. This investment will significantly support its mission to provide personalized, adaptive, and sustainable customer experience (CX) solutions on a global scale. ToumAI is revolutionizing the customer experience…

P1 Ventures, an early-stage venture capital firm, has successfully closed its inaugural institutional fund, raising an impressive $50 million dedicated to investing in promising technology startups throughout Africa. Co-founded by Mikael Hajjar and Hisham Halbouny, P1 Ventures distinguishes itself as a contrarian VC firm with a mission to empower early-stage…

LNKO, a Moroccan-based startup and a rapidly growing direct-to-consumer (D2C) eyewear brand, has recently secured a strategic equity investment from Beltone Venture Capital. This investment is poised to significantly enhance LNKO’s growth and expansion initiatives across the African continent. This investment represents a pivotal moment for LNKO that has established…

EasyBank, an innovative fintech startup headquartered in Tunisia, has successfully secured $370,000 in funding, equivalent to approximately 1.2 million Tunisian dinars. This significant investment is set to bolster the company’s ambitious plans for international expansion, targeting markets in the Middle East, North Africa, and France. Founded in 2023 by a…

Starlink’s ambitious plans to expand its satellite internet services into South Africa have encountered a significant obstacle, as the company has officially withdrawn from regulatory hearings conducted by the Independent Communications Authority of South Africa (ICASA). This development marks a critical juncture for Starlink, which is a subsidiary of SpaceX,…