Egyptian startup Tafweela, which aims to revolutionize the vehicle payments ecosystem through its innovative end-to-end payment solution, has become the first venture-building project for T-Vencubator. T-Vencubator merges the advantages of venture capital and incubation to bridge the gap between Egypt’s entrepreneurial potential and technological capabilities. By doing so, it empowers…
Author: Tapiwa Matthew Mutisi
Nigerian wealth management startup, Bamboo, has introduced a new fee-free remittances application named “Coins By Bamboo,” designed to facilitate seamless financial transactions from Canada to Nigeria. Founded in 2019 and a proud alumnus of Y Combinator, Bamboo is an innovative investment platform that equips Africans with the tools to build…
Bluesky, though still considered an underdog in the competition for alternatives to X, is rapidly gaining traction. The once Twitter-affiliated service has recently surpassed the 15 million user milestone, having added over a million new users in the past week alone, according to a company update. Despite being significantly smaller…
In an effort to further accelerate Africa’s burgeoning tech ecosystem, Google has unveiled its latest cohort of startups selected for the 2024 Google for Startups Accelerator Africa program. This year’s accelerator showcases a robust lineup of African innovators, with startups from across the continent dedicated to addressing challenges through pioneering…
MTN Uganda has just released its latest interim dividend report, revealing substantial earnings from its voice, data, and mobile money services. Despite facing a significant $70.89 million tax dispute with Uganda’s revenue authority last month, MTN’s East African division achieved an impressive 29.6% increase in earnings, reaching $124.8 million for…
MTN South Africa, in collaboration with Huawei, has successfully concluded Africa’s inaugural 5.5G network trial at its headquarters in Johannesburg. Renowned for its advancements in 5G technology, MTN is now spearheading the introduction of 5.5G in Africa. This next-generation technology promises to deliver faster and more intelligent connections, propelling the…
The Guardian has announced that it will cease all activity on X (formerly known as Twitter), with all its editorial accounts stopping their posts on the platform. However, users can still share The Guardian’s articles on X, and its journalists may link to or embed X posts in their articles…
President-elect Donald Trump has appointed Elon Musk to lead a newly established “Department of Government Efficiency.” This department aims to “dismantle government bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure federal agencies.” The Tesla CEO and owner of X will head the initiative alongside former presidential candidate Vivek Ramaswamy,…
Egypt’s Information Technology Industry Development Agency (ITIDA) and venture capital firm Flat6Labs have launched the InvestIT programme, aimed at providing Egyptian tech startups, particularly those at the seed or pre-Series A stages, with access to consultancy, tools, and investor connections to help them scale operations and enhance their global competitiveness.…
Egyptian interior design startup Efreshli has successfully raised a seed round of funding aimed at enhancing its offerings and expanding its product line. Founded by Heba Elgabaly, Efreshli offers convenient online furnishing and decorating services, making the interior design process more accessible. The platform features and sells thousands of products…
Bootstrap Europe, a EUR250 million (US$270 million) growth debt fund that has already provided over US$1 billion in loans to 300 businesses, is expanding its operations to Africa to increase the availability of debt funding for early-stage startups on the continent. Founded in 2015 by Fatou Diagne and Stephanie Heller…
Female entrepreneurs in Nigeria are encouraged to apply for the Growth4Her Accelerator programme, an initiative designed to address and bridge the gender financing gap prevalent in Africa. The Growth4Her Accelerator is a comprehensive six-month programme specifically tailored to empower women entrepreneurs. It provides them with the necessary skills, knowledge, and…
Standard Chartered Bank and British International Investment (BII), the UK’s development finance institution, have entered into a $350 million risk participation agreement designed to bolster the trade finance needs of small and medium-sized enterprises (SMEs) and larger corporations in Africa and South Asia. This strategic agreement is poised to stimulate…
ChitChat has expanded its social commerce services beyond Africa, now targeting advanced economies such as China, the United States, the United Kingdom, Japan, India, Canada, and Malaysia. This strategic expansion aims to broaden the app’s reach and enhance its service offerings to a global audience. In addition to its geographical…
Ghanaian electric vehicle (EV) startup Wahu Mobility has partnered with financial service provider Letshego to make EV ownership more affordable and accessible in Africa. This collaboration aims to empower communities by offering eco-friendly transportation options, marking a significant step towards sustainable mobility on the continent. Valerie Labi, Co-Founder of Wahu…
Specialist agricultural investor AgDevCo has announced a significant $9.5 million mezzanine loan investment in Agventure, a Kenyan farmer-owned enterprise that is at the forefront of promoting regenerative agriculture in non-irrigated cereal-based systems. This strategic partnership aims to enhance sustainable farming practices and boost local food production in Kenya. Founded in…
MDaaS, a healthcare startup operating 16 diagnostic clinics in Nigeria, has launched its first clinic in Cameroon, marking its entry into Francophone Africa. This strategic move aims to mitigate the startup’s exposure to Naira volatility and enhance revenue streams. We’re scaling rapidly in Nigeria—we did over 16,000 patient visits last…
Egyptian e-procurement solutions provider, Teradix, has secured a grant of US$140,000 from the TAQADAM Accelerator programme at King Abdullah University of Science and Technology (KAUST). This funding is aimed at supporting Teradix’s strategic expansion into the Saudi Arabian market. Teradix, founded in 2019 by Khaled Aboshady, specializes in offering a…
Nigeria is making significant strides in its electric vehicle (EV) industry through a strategic partnership with a Moroccan company, aiming to boost local manufacturing and reduce reliance on imported vehicles. This collaboration, spearheaded by Nigeria’s National Automotive Design and Development Council (NADDC), is set to enhance the nation’s automotive sector…
A new electric minibus taxi, named eKamva, has been launched in South Africa by a consortium led by startups, featuring an innovative flx EV business model and accompanying app. The eKamva initiative is the result of a collaboration between various companies and research institutions, spearheaded by GoMetro, a transport technology…