Author: Tapiwa Matthew Mutisi

Chinese electric vehicle (EV) manufacturer BYD has reported impressive annual revenue figures for 2024, surpassing its main competitor, Tesla. The Shenzhen-based company announced that its revenue surged by 29%, reaching an impressive 777 billion yuan (approximately $107 billion or £83 billion). This growth was significantly driven by the robust sales…

Trade Shield, a South Africa-based enterprise specializing in credit risk management solutions, has successfully secured ZAR 15 million (approximately $825,000) in funding from the Vumela Enterprise Development Fund, which is managed by Edge Growth. This financial backing is aimed at facilitating the company’s growth opportunities both within South Africa and…

South African startup Jem HR, a pioneering WhatsApp-based platform for human resources and employee benefits, has successfully secured ZAR60 million (approximately US$3.3 million) in a pre-Series A funding round aimed at accelerating its growth and enhancing product development. Originally founded in 2019 under the name SmartWage, the company underwent a…

Mukuru, a prominent next-generation financial services platform in Southern Africa, has undergone a remarkable transformation since its inception in 2004, when it initially focused on selling international airtime. Today, the company plays a pivotal role in the region’s financial landscape, facilitating annual payment flows between $3.5 billion and $4 billion.…

Egyptian startups are now invited to participate in the MINT Fintech Hackathon, an exciting opportunity for entrepreneurs to collaborate, compete, and innovate in the rapidly evolving field of financial technology. This initiative aims to foster creativity and drive the development of groundbreaking fintech solutions that can transform the industry. The…

Paystack, the Nigerian fintech company owned by Stripe, has officially launched Zap, a new application designed to facilitate rapid and secure bank transfers in just 30 seconds. This significant development marks Paystack’s entry into the consumer app market after spending nine years primarily focused on merchant-oriented solutions. At a highly…

Kenya’s leading banking institution, KCB Group PLC, is making a bold move into the digital financial arena with its announcement on March 24, 2025, regarding the planned acquisition of a 75% stake in Riverbank Solutions Limited, a prominent local financial technology firm. This strategic initiative underscores KCB’s ambition to strengthen…

South Korea’s Samsung Electronics announced on Tuesday the untimely passing of its co-CEO, Han Jong-hee, at the age of 63. Han suffered a heart attack, which led to his sudden demise, leaving a significant void in the company’s leadership. Han Jong-hee was a pivotal figure at Samsung, overseeing the digital…

Google has proudly announced the graduation of its inaugural cohort of 15 promising South African startups from the Startups Accelerator: South Africa programme. This milestone represents a significant boost to the country’s burgeoning technology ecosystem, which has been gaining momentum in recent years. Launched in November 2024, the initiative aimed…

Eighty-six innovative entrepreneurs recently showcased their groundbreaking startups at Kenya’s Presidential Innovation Challenge and Award, seeking essential funding and technical support from the Kenya National Innovation Agency (KeNIA). This prestigious event serves as a vital platform for emerging businesses to gain recognition and resources necessary for their growth. The Presidential…

In a decisive move that underscores a robust confidence in the growth prospects of North and West Africa, the German development finance institution DEG (Deutsche Investitions- und Entwicklungsgesellschaft) has markedly enhanced its financial commitment to Mediterrania Capital IV (MC IV), a private equity fund adeptly managed by Mediterrania Capital Partners…

Tunisian authorities have suspended the operations of ride-hailing giant Bolt, along with several other unnamed companies, as part of an investigation into alleged money laundering and tax evasion, the country’s interior ministry announced on Monday. This probe has already resulted in the seizure of approximately 12 million Tunisian dinars (around…

Fintech startup enza, which specializes in providing payment solutions across Africa, has successfully raised $6.75 million in a seed funding round co-led by notable venture capital firms Algebra Ventures and Quona Capital. This investment marks a significant milestone for enza, representing its first external capital injection since the company was…

Norfund has announced a substantial investment of $7.5 million in the Inside Equity Fund II, a private equity fund dedicated to supporting small and medium-sized enterprises (SMEs) in Southeast Africa. This fund is managed by Inside Capital Partners and aims to provide essential financial backing to businesses that contribute to…

In a significant initiative aimed at enhancing food security and promoting entrepreneurship across West and East Africa, Investisseurs & Partenaires (I&P), a leading impact investment group, has launched the I&P Accélération FARM program. This program is backed by a substantial commitment of €4 million (approximately $4.3 million) from Proparco, the…

In a notable development for the social media landscape, Bluesky, an alternative platform to X (formerly Twitter) built on open-source technologies, has successfully attracted a high-profile user: former President Barack Obama. The announcement was made on Sunday, marking a significant win for Bluesky as it continues to carve out its…

The Tony Elumelu Foundation (TEF) has announced a significant initiative aimed at supporting young entrepreneurs across the African continent, unveiling a $15 million grant designed to benefit 3,000 aspiring business leaders from 52 African countries. This announcement was made by the foundation’s founder, Tony Elumelu, during the launch of the…

Tade Oyerinde, a visionary entrepreneur originally from Nigeria, has successfully raised $46 million in Series B funding for his innovative for-profit community college startup, Campus. This initiative is designed to transform the landscape of higher education accessibility in the United States. The funding round, which was led by General Catalyst…

Alphabet, the parent company of the tech powerhouse Google, is embarking on a new venture that pits it against Elon Musk’s Starlink in the competitive landscape of internet connectivity. The initiative, known as Taara Lightbridge, was initially conceived within Alphabet’s innovative X division, often referred to as its “moonshot” factory.…

Flutterwave, recognized as Africa’s premier payments technology company, has made significant strides in expanding its presence in Ghana by integrating a new payment option: Pay With Bank Transfer. This initiative is in collaboration with Affinity Bank, marking a pivotal development in the region’s payment landscape. In 2023, Ghana recorded over…