Author: Tapiwa Matthew Mutisi

MTN Group, recognized as Africa’s largest telecommunications service provider, has announced a strategic partnership with Meta, the parent company of Facebook, to enhance the quality and reliability of voice and video calls on real-time communication applications, including WhatsApp. This collaboration will impact 12 of MTN’s operational markets across the continent.…

Safe Superintelligence (SSI), the artificial intelligence startup founded by Ilya Sutskever, who is also a co-founder of OpenAI, has reportedly secured an additional $2 billion in funding, bringing its total valuation to an impressive $32 billion, as reported by the Financial Times. Prior to this latest funding round, SSI had…

Chowdeck, the Nigerian food delivery startup backed by Y Combinator, has made a significant move in its international expansion by appointing Henry Whyte as the head of its operations in Ghana. This strategic hiring is particularly noteworthy as it follows the company’s earlier recruitment of Umar Nas’ir, another senior manager…

Lesotho is currently experiencing a moment of relief following the announcement of a 90-day suspension of the sweeping 50% tariffs, which are the highest in Africa. This temporary reprieve has sparked discussions about the future of U.S. investment in the country, particularly in relation to the controversial Starlink project led…

South African fintech company Stitch has successfully secured an additional $55 million in funding, aimed at enhancing its comprehensive payment solutions for businesses throughout Africa. This strategic investment is poised to strengthen Stitch’s position within the continent’s rapidly evolving payments ecosystem, reflecting the growing demand for innovative financial technologies. Among…

New GX Capital, a prominent investment firm known for its early support of Dark Fibre Africa, is set to launch a significant clean-tech investment initiative with the introduction of the R2.4-billion Airnergize Capital Fund I. This fund is being established in collaboration with RMB Ventures (RMBV) and is poised to…

EFT Corporation has announced the appointment of Mike Smits as the new Group Managing Director. In this pivotal role, Smits will be responsible for spearheading the corporation’s strategic initiatives and fostering collaboration in digital transformation efforts across key markets, including Kenya, the Democratic Republic of the Congo (DRC), and Ethiopia.…

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…