Author: Tapiwa Matthew Mutisi

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…

Egyptian health and wellness startup WellPal has successfully secured an undisclosed amount of angel funding from a strategic investor and has relocated its operations to Saudi Arabia. WellPal caters to health-conscious individuals, those with chronic health conditions, fitness enthusiasts, athletes, diet-specific consumers, and families seeking healthier food options. The platform…

African startups are invited to apply for the prestigious New Venture Competition, organized by Harvard Business School’s Africa Business Club. This competition offers a substantial prize pool of up to US$55,000, providing a significant boost for entrepreneurs aiming to address pressing challenges across the continent with innovative solutions. The New…

Beacon Power Services (BPS), a pioneering energy technology firm, has successfully secured funding through a Series A financing round. This significant achievement will enable the company to broaden its influence across Eastern and Southern Africa. The funding round was spearheaded by Partech and garnered substantial backing from notable investors including…

The African Development Bank Group has announced a comprehensive $75 million financing package to support Export Trading Group (ETG), a Mauritius-based conglomerate with extensive operations across Africa. ETG’s diverse portfolio includes sectors such as agricultural inputs, logistics, supply chain optimization, digital transformation, and energy. The financing package comprises $65 million…

Startupbootcamp, Mara Group, and Blend Financial Services have unveiled plans to launch a substantial $250 million fund dedicated to accelerating the growth of African technology startups. Ashish Thakkar, the founder of Mara Group and a prominent British-East African entrepreneur, announced that the fund is expected to begin making its first…

Mastercard and Diamond Trust Bank (DTB) have forged a significant 10-year partnership aimed at revolutionizing digital payment solutions across Kenya, Uganda, and Tanzania. This long-term collaboration is set to enhance the digital banking experience for both individuals and businesses throughout East Africa. The partnership will primarily focus on delivering innovative,…

MaC Venture Capital (VC) has successfully closed its third fund (Fund III), raising $150 million to enhance its investments in seed-stage technology companies. Founded in 2019, MaC VC now manages $600 million in assets and plans to issue checks ranging from $2 million to $3 million to seed-stage companies. The…

Apple is set to acquire the renowned photo editing company, Pixelmator. The Pixelmator Team shared this news in a blog post on Friday, assuring users that there will be “no material changes” to its apps “at this time.” The acquisition is currently awaiting regulatory approval. Pixelmator has signed an agreement…

Google has reportedly incurred a staggering fine of over two undecillion rubles—equivalent to a two followed by 36 zeros—after removing state-run and pro-government accounts from YouTube. To put it in perspective, an undecillion is a trillion times a trillion times a trillion. In dollar terms, this translates to a mind-blowing…

Android users experienced a longer wait than usual for the release of Android 15 this fall, but Google is already outlining the timeline for the next two operating system updates. In a shift from their usual schedule, the next major Android release is set to arrive in the second quarter…

We’re still in the “teaser trailer” phase for the upcoming season of Squid Game, but the latest teaser for season two has revealed some intriguing details. The new trailer gives us a closer look at the games as Seong Gi-hun, portrayed by Lee Jung-jae, returns to the island. This time,…

British International Investment (BII), the UK’s development finance institution, has announced a $150 million trade facility in collaboration with Absa Group. This facility is designed to address Africa’s significant trade finance gap, which is estimated to be between $100 and $120 billion. This new agreement builds on a longstanding partnership…

MTN Nigeria has released its financial results for the nine months ending September 30, 2024, reporting a 0.9% decrease in total subscribers to 77.0 million, primarily due to the NIN-SIM directive. The company closed the nine-month period with a significant loss after tax of ₦514.9 billion, compared to a profit…

Ghanaian retail-tech startup Tendo Technologies has announced a strategic acquisition of its counterpart, Shopa, in a deal aimed at revolutionizing supply chain infrastructure across Africa. Tendo Technologies, founded in 2021 by Felix Manford, Evans Boateng, Derrick Mungai, and Primerose Katena, empowers tens of thousands of individuals to launch and grow…

Young African entrepreneurs are now invited to apply for the 2025 edition of the Anzisha Prize, a prestigious program that offers a range of benefits, services, and prize money to support their ventures. The Anzisha Prize is an initiative delivered by the African Leadership Academy in partnership with the Mastercard…