Author: Tapiwa Matthew Mutisi

The Africa’s Business Heroes (ABH) competition, a charitable initiative backed by the Jack Ma Foundation and Alibaba Philanthropy, has reached a pivotal moment in its annual cycle. This program is dedicated to recognizing and advancing the efforts of African entrepreneurs. For the 2021 edition, the competition has meticulously chosen its…

Vantage Capital, a premier fund manager in Africa, has successfully completed a €14 million mezzanine financing deal with Société de Production Maraîchère Samir (SPMS), a prominent agricultural firm in Morocco. This financial injection is earmarked to bolster SPMS’s ambitious expansion plans, which include a threefold increase in its farming acreage,…

The Ivorian fintech startup Daba Finance has emerged as the victor of the Ecobank Fintech Challenge this year, securing a substantial reward of US$50,000. Ecobank, a prominent independent banking group with a pan-African presence, caters to over 32 million customers across various sectors, including consumer, commercial, and corporate banking, spanning…

Ampersand, an e-mobility startup, has joined forces with CrossBoundary Energy to roll out solar-powered charging stations for its electric two-wheeler (E2W) motorbikes in Kenya, with the goal of enhancing the accessibility of eco-friendly charging options. This initiative is set to propel the rapid expansion of Ampersand’s electric motorcycle fleet throughout…

The Central Bank of Egypt is on the verge of introducing a landmark initiative that aims to enhance investment activities throughout the African continent. Ambassador Abu Bakr Hefny, the Deputy Minister of Foreign Affairs and Emigration, has announced that the CBE is preparing to establish the first sovereign investment guarantee…

Next Narrative Africa, a media production company based in Nigeria, in collaboration with HEVA Fund, an investment firm from Kenya, has unveiled a groundbreaking $40 million fund designed to bolster the African filmmaking industry. Dubbed the Next Narrative Africa Fund, this ambitious initiative is dedicated to backing film projects throughout…

Yellow Malawi, a prominent company specializing in the distribution of solar energy, has recently obtained a significant financial boost in the form of a $2 million investment from the Hardest-to-Reach (H2R) initiative, which is managed by Acumen. This substantial infusion of capital is earmarked for the enhancement of Yellow Malawi’s…

The Athar Accelerator, based in Egypt, has recently celebrated the successful completion of its fifth Climate Action Accelerator Programme, with the startup DFC emerging as the winner. DFC, which focuses on creating solar-powered mobile charging stations for electric vehicles, was awarded a prize of EGP150,000 (US$3,000). The accelerator programme, which…

The Moroccan-based startup Userguest, known for its innovative platform that assists hotels in maximizing their direct revenues, has successfully secured a seed funding round of EUR2.2 million (US$2.4 million). This financial milestone is set to propel the company into a phase of rapid expansion and further development of its product…

Between the years 2020 and 2022, Ecobank Kenya experienced significant financial losses amounting to millions of dollars due to vulnerabilities in its card operations team. These vulnerabilities opened the door for potential fraudulent activities by both merchants and staff members, according to an internal report obtained by TechCabal. The report,…

The Federal Ministry of Youth Development has entered into a partnership with the Nigeria Data Protection Commission (NDPC) through a Memorandum of Understanding, with the objective of training 5,000 Nigerian youths to become data protection experts. This collaboration is part of the Ministry’s broader strategy to create employment opportunities. Ayodele…

Foodpreneurs Hub, a pioneering foodtech platform founded in Nigeria, has successfully secured $500,000 in pre-seed investment to further its commitment to tackling food insecurity throughout Africa. The identities of the investors participating in this funding round were not disclosed by the company. This financial boost is set to propel Foodpreneurs…

Farid, an emerging edtech startup based in Egypt, has successfully secured a pre-seed investment of $250,000 from Amal bint Abdulaziz Al-Ajlan, a prominent Saudi entrepreneur. This infusion of capital is set to propel the startup’s growth ambitions, enabling it to broaden the reach of its educational offerings and to penetrate…

Uncap, a venture capital enterprise with headquarters in Munich and Nairobi, has recently unveiled a new $33 million funding initiative aimed at fostering the expansion of small and medium-sized enterprises (SMEs) throughout the African continent. This initiative, dubbed Unconventional Capital, was officially introduced on Wednesday, September 18, 2024, and it…

Regfyl, a pioneering Nigerian firm specializing in digital identity verification and fraud detection solutions for businesses, has successfully secured $1.1 million in pre-seed investment. The startup plans to allocate this funding towards enhancing its sales, engineering, and customer support teams, as well as developing a product focused on supply chain…

The Office of the Accountant General of the Federation (OAGF) in Nigeria has unequivocally refuted any concerns regarding a potential data breach within the country’s Integrated Personnel and Payroll Information System (IPPIS). In a statement issued by Bawa Mokwa, the Director of Press and Public Relations at the OAGF, the…

Sultan Ventures, a venture firm based in the United States, has recently completed the acquisition of Egypt’s Acasia Group, a conglomerate known for its multi-incubator operations and angel investment syndicate. This strategic move marks Sultan Ventures’ entry into the Middle East and Africa (MENA) region, underscoring its dedication to pursuing…

TymeBank, a pioneering digital bank in South Africa, has achieved a significant milestone by attracting an investment of R169 million (around $9.5 million) from African Rainbow Capital (ARC) while also reaching a customer base of over 9.5 million. According to ARC’s latest annual financial report for the fiscal year ending…

EMURGO, a trailblazer in blockchain technology and a key founding entity of the Cardano blockchain, has forged a strategic partnership with Ibex, the corporate innovation division of Antler, a globally recognized early-stage investment firm. This collaboration is aimed at propelling Web3 innovation and accelerating fintech development, with a particular focus…

South African fintech innovator Happy Pay has successfully raised R32 million (approximately $1.8 million) in a pre-seed funding round, setting the stage for an ambitious expansion of its Buy Now, Pay Later (BNPL) services. The investment was spearheaded by E4E Africa and 4Di Capital, and saw contributions from a consortium…