Author: Tapiwa Matthew Mutisi

Proparco, a prominent French development finance institution, has announced a significant investment of €10 million in AfricInvest’s latest fund, aimed at bolstering small and medium-sized enterprises (SMEs) across the African continent. This initiative is particularly focused on supporting SMEs in North, East, and West Africa, with an emphasis on key…

CreditChek, a prominent provider of credit assessment infrastructure in Africa, has forged a strategic partnership with CredPal to offer essential creditworthiness and identity verification services for CredPal’s newly launched credit card business. This collaboration signifies a crucial advancement for CreditChek as it reinforces its commitment to making credit more accessible,…

Swedish development finance institution, Swedfund, has announced a significant investment of over $41 million (€40 million) into the Emerging Africa & Asia Infrastructure Fund (EAAIF). This fund operates under the Private Infrastructure Development Group (PIDG) and is managed by Ninety One, a prominent investment management firm. The primary objective of…

Egyptian skills development startup Eyouth has announced a significant partnership with global education consultancy EDT&Partners, backed by a substantial investment of US$6 million. This collaboration aims to equip one million young individuals across Africa and the Middle East with essential digital skills necessary for today’s job market. Founded in 2016…

LemFi has successfully acquired the Irish currency exchange platform Bureau Buttercrane, marking a significant milestone in its European expansion strategy. This acquisition, which has received regulatory approval from the Central Bank of Ireland, allows LemFi to leverage its Irish license to operate throughout the European Economic Area (EEA), thereby unlocking…

Applications are now open for the latest edition of the Tony Elumelu Entrepreneurship Programme (TEEP), designed to support startups through comprehensive training, mentorship, and a funding opportunity of US$5,000. Administered by the Tony Elumelu Foundation (TEF), TEEP represents a significant commitment of US$100 million over a decade, aimed at identifying,…

MOPO, a UK-based technology firm specializing in sustainable energy solutions through pay-per-use battery rentals, has successfully secured funding from British International Investment (BII), the UK’s development finance institution and impact investor. This investment will significantly accelerate the growth of MOPO’s battery rental operations in the Democratic Republic of Congo (DRC),…

M-KOPA, a prominent asset financing startup based in Kenya, has achieved a significant legal victory in a trademark infringement case against a former agent who attempted to capitalize on its established brand identity. The agent, John Waweru Njenga, had registered a business under the name “MKopo Kastomer Care and Accessories,”…

On Tuesday, Elon Musk’s social media platform, X, unveiled an exciting new feature: a digital wallet and peer-to-peer payment services, made possible through a partnership with Visa, the largest credit card network in the United States. This announcement was made by CEO Linda Yaccarino in a post on the platform,…

NjiaPay, a payments-as-a-service provider focused on African businesses, has announced the successful completion of an oversubscribed pre-seed investment round, raising over $1 million. The funding round was led by HAVAÍC, with participation from notable angel investors, including the founders of Anyfin, Banxware, and Maxidrive. Launched in late 2024, NjiaPay is…

Safaricom, the leading telecommunications company in Kenya, is reportedly in the process of seeking regulatory approval from the Communications Authority of Kenya (CA) to establish its own undersea cable. This significant move, if approved, would mark a pivotal development in the company’s operations and the broader telecommunications landscape in the…

Norfund, the Norwegian Investment Fund dedicated to fostering development in emerging economies, has recently announced a significant follow-on investment of US$40 million in CrossBoundary Energy (CBE), a prominent provider of renewable energy solutions across Africa. This new investment, finalized in December 2024, effectively doubles Norfund’s initial commitment of US$40 million…

SC Ventures, the innovation and fintech investment arm of Standard Chartered, has entered into a series of shareholder and technology collaboration agreements with Yabx Technologies, a subsidiary of the Tech Mahindra group based in the Netherlands. This partnership formalizes their joint investment in Furaha, a purpose-driven lending platform focused on…

Bluesky, the emerging social network, is intensifying its focus on video content. Following the introduction of a new TikTok-like custom video feed last week—an initiative that coincided with the temporary suspension of the popular video app in the U.S.—the company announced on Monday that it will be adding a dedicated…

Qualcomm, a leading global player in wireless technology, has officially opened applications for the latest iteration of its Make in Africa Startup Mentorship Programme. This initiative is designed to provide startups with invaluable resources, including expert coaching, access to experienced engineers, and guidance on intellectual property protection. Qualcomm, which is…

Fincart.io, an innovative logistics startup based in Egypt, has made significant strides in the e-commerce sector by launching a platform designed to assist small and medium-sized businesses (SMBs) in enhancing their shipping processes and unlocking vital working capital. The company proudly announced today the successful closure of its pre-seed funding…

As the race for electric vehicles (EVs) intensifies across the African continent, Burkina Faso has made a significant stride by launching its first fully indigenous electric vehicle, branded as ITAOUA. This groundbreaking development marks a pivotal moment for the nation, showcasing its potential in the burgeoning EV market. According to…

Investing in Innovation Africa (i3), a collaborative initiative supported by the Gates Foundation, a consortium of donors, pharmaceutical manufacturers, and African government institutions, is set to invest $1.6 million in 15 healthtech startups across the African continent. This initiative aims to bolster the healthcare landscape by providing financial support to…

South African startup Insight Terra has successfully secured an impressive US$5.7 million in Series A extension funding, aimed at accelerating the growth of its innovative AI-driven platform dedicated to greenhouse gas (GHG) management and environmental risk assessment. This funding marks a significant milestone for Insight Terra as it embarks on…

A prominent fintech startup based in South Africa, Stitch, specializing in online payments infrastructure tailored for large enterprises, has recently made headlines with its acquisition of ExiPay, a startup focused on providing in-person payment solutions for retail businesses. While the financial details of the acquisition remain undisclosed, this strategic move…