Author: Tapiwa Matthew Mutisi

Previously recognized as WorldRemit, Zepz has successfully garnered $267 million in a funding round supported by both new and returning investors, aiming to accelerate its growth within its primary African markets and further afield. The funding round was spearheaded by Accel, with significant contributions from Leapfrog, TCV, and Coller Capital.…

TUNL, a prominent shipping platform based in South Africa that caters to ecommerce exporters, has successfully completed a seed funding round with set terms. This financial milestone was spearheaded by E4E Africa and saw contributions from notable investors such as Jonathan Smit, the founder of Payfast who has since exited…

MTN Congo has proudly announced the rollout of its 5G network in the Republic of the Congo, marking a significant milestone as the nation becomes the first in Central Africa to introduce this advanced technology. This move is seen as a catalyst for a “digital revolution” that is anticipated to…

Scale, an emerging South African startup specializing in brand and project management services tailored for fintech companies aiming to penetrate new markets or develop new product lines, has successfully secured $700,000 in a pre-seed investment round. The funding round was spearheaded by 54 Collective, a versatile venture capital firm with…

ARISE Integrated Industrial Platforms (ARISE IIP), a prominent developer and operator of industrial parks in Africa, has successfully secured $443 million in fresh capital to support its expansion initiatives across the continent. The bulk of this new funding comes from a substantial $300 million investment by The Fund for Export…

EdVentures, the venture capital branch specializing in educational technology under the umbrella of the Nahdet Misr Group, has recently expanded its investment portfolio by incorporating eight new Egyptian ed-tech startups. Launched in 2017, EdVentures has dedicated itself to nurturing and financially backing innovative startups in the educational technology sector. This…

The Board of Directors of the African Development Bank (AfDB) Group has sanctioned a loan of €9.51 million (equivalent to $10.5 million) to the Comoros, an East African archipelago, for the establishment and operation of a brand-new data center. This financial assistance will also cover the enhancement of an existing…

Four innovative African startups have emerged as the grand winners of the NBA Africa’s Triple-Double Accelerator program, each securing a substantial cash award along with the promise of ongoing mentorship opportunities. NBA Africa, an entity associated with the National Basketball Association, is responsible for managing the NBA’s various business ventures…

Lesaka Technologies, a fintech firm listed on the Nasdaq, has successfully finalized the purchase of Adumo, another fintech entity, for a total consideration of $96 million. The transaction was a combination of cash and stock, with Lesaka disbursing $13 million in cash. The acquisition price saw an increase of $10…

MultiChoice Kenya has announced an impending price adjustment for its DStv subscriptions, with increases of up to KSh500 set to take effect from November 1, 2024. The adjustment will see the cost of the DStv Premium package rise to KSh11,000 from the current KSh10,500, while the Compact Plus package will…

inDrive has broadened its service offerings throughout Zimbabwe, now operating its ride-hailing services in four key cities: Harare, Bulawayo, Gweru, and Mutare. Additionally, the company has introduced a new courier service in Harare, Zimbabwe’s capital, enhancing convenience for its customers. This new courier offering allows both individuals and businesses to…

Mastercard and Amazon Payment Services have forged a strategic alliance aimed at bolstering the infrastructure for digital payments across the Middle East and Africa, with a particular focus on countries such as Egypt and South Africa. This collaboration grants Amazon Payment Services access to Mastercard’s Gateway, a comprehensive payment processing…

OpenAI, the creator of ChatGPT, has just completed an unprecedented venture capital funding round. The company has declared that it secured $6.6 billion in investments, resulting in a post-money valuation of $157 billion. Thrive Capital, a returning investor, spearheaded the round, which has elevated OpenAI’s total funding to $17.9 billion,…

The French media conglomerate Canal+ has emerged from a period of quiet maneuvering to make significant strides towards the full acquisition of South Africa’s broadcasting giant, MultiChoice, in a landmark R30 billion transaction. Canal+ has been strategically increasing its stake in MultiChoice over time, and by May 2024, it had…

The Lagos State government has announced a substantial €120 million ($132 million) investment from the Netherlands government to support a pioneering waste-to-energy project in Lagos, Nigeria. This collaborative effort involves the Lagos State government and the Dutch firm Harvest Waste Consortium and is focused on transforming a portion of Lagos’…

A collaborative consortium, including the SA SME Fund, the Department of Science and Innovation (DSI), the Technology Innovation Agency (TIA), and E Squared Investments, has introduced a substantial R300 million (approximately $17 million) seed fund dedicated to nurturing tech startups in South Africa. This fund is set to exclusively provide…

Littlefish, an innovative fintech startup based in South Africa, has successfully completed its seed funding round, spearheaded by TLcom Capital with Flourish Ventures participating as a co-investor. This funding round marks TLcom Capital’s inaugural investment in South Africa, signaling the firm’s strategic expansion into the southern African market after primarily…

Raxio Group has proudly announced the inauguration of its latest cutting-edge data centre, Raxio Côte d’Ivoire (CIV1), situated in Abidjan, Côte d’Ivoire. This new facility is a significant addition to Raxio’s portfolio, marking it as the fifth data centre and the third to be launched within the year 2024. CIV1…

In a collaborative effort, the UK, alongside PwC and the UK-Kenya Tech Hub, has launched an innovative digital toolkit aimed at simplifying market access for entrepreneurs targeting Kenya, Nigeria, and South Africa. This initiative is the result of an extensive study that pinpointed the specific needs startups have when attempting…

In a significant boost to South African entrepreneurship, three innovative startups—Respo, Syked, and Word of Mouth—have collectively secured ZAR3 million (equivalent to US$175,000) in a mix of debt and grant funding. This financial infusion was provided by the SAB Foundation through its Social Innovation Accelerator and Fund (SIF), a program…