Author: Tapiwa Matthew Mutisi

Innoson Vehicle Manufacturing Company (IVM), a Nigerian automobile manufacturer, has recently made headlines by introducing its inaugural electric vehicle (EV) at its production facility in Nnewi, Anambra State. The announcement was made public by Cornel Osigwe, who holds the position of Head of Communications and Corporate Affairs at Innoson. Osigwe…

FSDAi Nyala Facility BV, an entity created by FSD Africa Investments, has declared a significant investment of US$1 million into First Circle Capital Africa Fund I, marking a pivotal step in fostering the expansion of early-stage fintech enterprises across the African continent. First Circle Capital, co-founded by Selma Ribica and…

VC4A, in partnership with the African Business Angel Network (ABAN), is set to host the 11th iteration of the Africa Early Stage Investor Summit (AESIS) during Africa Investor Week. This key event for investment professionals will take place in Cape Town on November 28-29. The summit stands as the foremost…

The Senegalese fintech startup Rubyx has secured a loan of EUR400,000 (approximately US$440,000) from Proparco, a French development finance institution. This funding is aimed at accelerating the deployment of Rubyx’s innovative algorithmic lending solution tailored for startups and microfinance institutions across Africa. Rubyx has created a state-of-the-art, cloud-based digital lending…

Bolt, the popular ride-hailing service, has implemented a 15% increase in fares for all its ride categories in Nigeria, as reported by Technext. This decision comes in response to the persistent fuel scarcity and the escalating operational challenges that drivers are encountering. In a formal statement, Bolt clarified that the…

NamPower, the national power utility of Namibia, has entered into a significant agreement with two Chinese companies, China Jiangxi International Economic and Technical Cooperation and Zhejiang Chint New Energy Development, to establish a solar power facility worth N$1.6 billion ($89 million). This venture marks the construction of the largest solar…

Emma Theofelus, Namibia’s Minister of Information and Communications Technology, has announced that the nation is on the verge of finalizing its Data Protection and Cybercrime Bills. These legislative measures are being introduced to safeguard the personal information of Namibians in an era of rapid technological progress. In response to the…

Telecommunications companies operating in Zimbabwe are now subject to stringent financial penalties for substandard service delivery, as stipulated by the newly amended Statutory Instrument 154 of 2024. This legislative update revises the existing Postal and Telecommunications (Quality of Service) Regulations to address the growing concerns over service reliability in the…

The Saïd Business School at the University of Oxford is currently hosting an extensive event called the Africa Venture Finance Programme. This initiative is a gathering of 44 distinguished fund managers who specialize in African and Africa-centric venture capital investments. The purpose of this assembly is to exchange knowledge and…

The venture capital firm Launch Africa Ventures, known for its focus on early-stage investments, has introduced its Mezzanine Impact Fund. This new fund is dedicated to providing mezzanine growth capital to premier technology companies in Africa that uphold robust Environmental, Social, and Governance (ESG) standards. Founded by Zachariah George and…

On the 9th of September, 2024, Nigeria’s Private Telecommunications and Communications Senior Staff Association (PTECSSAN) commenced an indefinite strike following a week-long notice period. The strike was initiated due to the union’s grievances regarding frequent layoffs and poor working conditions affecting employees in about 39 companies that offer auxiliary services…

With the arrival of September comes Apple’s much-anticipated iPhone launch event. Held in Cupertino, this year’s event saw the unveiling of the iPhone 16 series, encompassing both the standard and Pro models, each boasting improvements upon the previous year’s models. In addition to the spotlight on the new iPhone lineup,…

Multichoice has struck a significant blow against the internet streaming piracy operation known as Waka TV with a successful raid conducted on Friday, 6 September, in Germiston. The operation led to the detention of an individual on charges related to theft, fraud, money laundering, and breaches of the Cyber Crime…

Over the recent weekend, Dandemutande informed its customers through an email that it has become an Authorized Starlink Reseller, marking it as the third company in Zimbabwe to officially announce its reselling partnership with Starlink services. The initial buzz around Dandemutande’s association with Starlink surfaced in December 2023. However, the…

The Nigerian Communications Commission (NCC) has implemented a comprehensive Device Management System (NCC-DMS) designed to catalog and govern all mobile phones that connect to communication networks throughout Nigeria, according to a report by Nairametrics. This system is a key component of the NCC’s newly established “Type Approval Business Rule 2024,”…

Thepeer, a fintech startup founded in 2021, concluded its operations in April 2024 and has recently completed the process of returning $357,960 to its investors as of June, marking the final chapter in the company’s brief history. This return of funds indicates that an angel investor who initially contributed $10,000…

African insurtech startups are presented with an opportunity to secure funding ranging from $100,000 to $1 million through the ZEP-RE InsurTech Programme 2.0. This initiative is a collaborative effort between the reinsurance firm ZEP-RE and Westerwelle Startup Haus Kigali, marking the programme’s second iteration. The ZEP-RE InsurTech Programme is set…

AgDevCo, an investment firm specializing in the African agricultural sector, has recently secured $32 million in funding from the UK’s Foreign, Commonwealth, and Development Office (FCDO). This funding will spearhead the launch of AgDevCo Ventures, a novel investment initiative dedicated to nurturing early-stage agribusinesses across Africa. The initiative is strategically…

Elon Musk’s satellite-based Internet service, Starlink, is once again in the spotlight in South Africa following Musk’s recent acknowledgment that the service’s launch is pending regulatory approval. This statement came in response to a social media post by a local farmer lamenting the poor state of rural internet connectivity, sparking…

FlapKap, a fintech startup with origins in Egypt and operational headquarters in Abu Dhabi, has recently announced a significant milestone in its funding journey, securing a $34 million pre-Series A round. This substantial capital raise comes on the heels of a $3.6 million seed funding round nearly two years prior,…