Author: Tapiwa Matthew Mutisi

Inspired Evolution, a Pan-African private equity firm, has successfully completed the second closing of its Evolution III fund, securing additional capital to bolster clean energy initiatives across Africa. The fund has garnered the interest of ten new investors, with the Mauritius Investment Corporation (MIC) making a notable commitment of $20…

Swiss-based clean energy enterprise Candi Solar has successfully raised $38 million to boost its solar energy offerings for commercial and industrial (C&I) clients across Africa and India. The investment round was predominantly financed by Norwegian investment entity Norfund, contributing $20 million. Additional support came from STOA Infra & Energy, a…

Immobazyme, a South African biotech enterprise established in 2019 as an entrepreneurial venture emerging from Stellenbosch University, has successfully raised $1.3 million in a recent investment round. The infusion of capital was spearheaded by the University Technology Fund (UTF) alongside University of Stellenbosch Enterprises. The company specializes in utilizing cutting-edge…

Two United States Congress representatives are currently in Nigeria, advocating for the liberation of Tigran Gambaryan, an employee of the cryptocurrency exchange Binance, who has been incarcerated for the past four months at Kuje prison in Abuja. The Congress members have expressed their concern, stating that Gambaryan is effectively being…

The Massachusetts Institute of Technology (MIT) is currently inviting applications for its 2024-25 Foundry Fellowship program, which is specifically tailored for distinguished entrepreneurs who are dedicated to driving the rapid expansion and integration of innovation and entrepreneurial networks throughout the African continent. This fellowship program at MIT is crafted with…

WIOCC Group, an African internet connectivity provider, has successfully raised over $50 million from a consortium of global investors to propel its growth initiatives in key African markets, including Nigeria, South Africa, and the Democratic Republic of Congo (DRC). This strategic funding is aimed at narrowing the digital divide and…

Worldcoin is poised to recommence its activities in Kenya following the discontinuation of a police inquiry into accusations that the company was involved in the unauthorized gathering and exportation of user data. The Directorate of Criminal Investigations (DCI) in Kenya has issued a letter to Worldcoin’s legal representatives, stating that…

Cadana, a fintech startup with a focus on emerging markets, has successfully completed a seed funding round, securing $7.1 million to enhance and expedite the process of remittances for African professionals. This financial injection is aimed at improving Cadana’s payroll services, which cater to international hiring platforms and financial institutions.…

The US Justice Department is streamlining its legal approach against TikTok, the popular video-sharing platform owned by ByteDance, by withdrawing one of its two planned claims. The focus will now be on a forthcoming consumer protection lawsuit centered on violations of children’s privacy, rather than on accusations that TikTok misrepresented…

On Thursday, the U.S. government declared a prohibition on the sale of Kaspersky antivirus software within the nation, urging American users to transition to alternative security providers.The Bureau of Industry and Security, part of the Commerce Department, has enacted what it describes as an unprecedented ban, citing the Russian origins…

Despite facing a wave of public dissent, Kenya’s parliament has moved the Finance Bill 2024 forward in the legislative process. The proposed legislation, which includes the introduction of new tax measures, has been met with considerable pushback from citizens concerned about its potential economic repercussions. The parliamentary vote resulted in…

Instagram has recently unveiled a new feature that allows users to live stream exclusively to a select group of people they’ve identified as Close Friends. Announced on a Thursday, the “Close Friends on Live” feature is designed to create a more intimate live broadcasting experience. Users can now initiate a…

A week following the online leak of phone numbers belonging to Kenyan government officials by unidentified individuals, the notorious hacker collective Anonymous has issued a threat to reveal “corrupt dealings of members of parliament (MPs)” should they proceed to approve the 2024 Finance Bill slated for a vote on Thursday.…

The Independent Communications Authority of South Africa (Icasa) has made the decision not to renew the broadcasting license of OnDigital Media, the company responsible for operating StarSat, which is the South African division of the international broadcasting group StarTimes Media. Icasa communicated its verdict through a formal letter addressed to…

Breega, a venture capital firm headquartered in Paris, has recently unveiled its inaugural fund dedicated to the African market, named “Breega Africa Seed I.” This fund, amounting to $75 million, is earmarked for investment in nascent-stage companies across the African continent. The allocation of the fund will be strategically distributed…

Flutterwave, a leading provider of payment services, has embarked on a collaborative venture with Nigeria’s Economic and Financial Crimes Commission (EFCC) to establish and outfit a cutting-edge Cybercrime Research Center. This initiative is aimed at bolstering the fight against cybercrime and enhancing the security of online financial transactions. The proposed…

Downforce Technologies, a pioneering climate technology company based in London, has successfully secured $4.2 million in funding to enhance its product offerings with a focus on the African agricultural sector and to broaden its market reach. The investment round was spearheaded by Equator VC, a venture capital firm specializing in…

Sentech, the state-owned signal distribution company, has unveiled Freevision Play, a new over-the-top (OTT) video streaming service that grants South Africans complimentary access to a variety of local television and radio channels. This initiative, which was first proposed back in April 2013, has now come to fruition, offering a digital…

The South African Revenue Service (SARS) is intensifying its efforts to ensure compliance among cryptocurrency traders by employing artificial intelligence (AI) to detect non-compliant individuals. In a conversation with 702, Jashwin Baijoo, who is the head of strategic investment and compliance at Tax Consulting SA, revealed that SARS has the…

Orca Fraud, a South African startup established in January by Thalia Pillay and Carla Wilby, has developed a fraud orchestration platform designed to streamline fraud prevention and compliance for banks and fintech companies through a single integration process. The platform equips fraud analysts and compliance officers with the necessary tools…