Author: Tapiwa Matthew Mutisi

Eighty-six innovative entrepreneurs recently showcased their groundbreaking startups at Kenya’s Presidential Innovation Challenge and Award, seeking essential funding and technical support from the Kenya National Innovation Agency (KeNIA). This prestigious event serves as a vital platform for emerging businesses to gain recognition and resources necessary for their growth. The Presidential…

In a decisive move that underscores a robust confidence in the growth prospects of North and West Africa, the German development finance institution DEG (Deutsche Investitions- und Entwicklungsgesellschaft) has markedly enhanced its financial commitment to Mediterrania Capital IV (MC IV), a private equity fund adeptly managed by Mediterrania Capital Partners…

Tunisian authorities have suspended the operations of ride-hailing giant Bolt, along with several other unnamed companies, as part of an investigation into alleged money laundering and tax evasion, the country’s interior ministry announced on Monday. This probe has already resulted in the seizure of approximately 12 million Tunisian dinars (around…

Fintech startup enza, which specializes in providing payment solutions across Africa, has successfully raised $6.75 million in a seed funding round co-led by notable venture capital firms Algebra Ventures and Quona Capital. This investment marks a significant milestone for enza, representing its first external capital injection since the company was…

Norfund has announced a substantial investment of $7.5 million in the Inside Equity Fund II, a private equity fund dedicated to supporting small and medium-sized enterprises (SMEs) in Southeast Africa. This fund is managed by Inside Capital Partners and aims to provide essential financial backing to businesses that contribute to…

In a significant initiative aimed at enhancing food security and promoting entrepreneurship across West and East Africa, Investisseurs & Partenaires (I&P), a leading impact investment group, has launched the I&P Accélération FARM program. This program is backed by a substantial commitment of €4 million (approximately $4.3 million) from Proparco, the…

In a notable development for the social media landscape, Bluesky, an alternative platform to X (formerly Twitter) built on open-source technologies, has successfully attracted a high-profile user: former President Barack Obama. The announcement was made on Sunday, marking a significant win for Bluesky as it continues to carve out its…

The Tony Elumelu Foundation (TEF) has announced a significant initiative aimed at supporting young entrepreneurs across the African continent, unveiling a $15 million grant designed to benefit 3,000 aspiring business leaders from 52 African countries. This announcement was made by the foundation’s founder, Tony Elumelu, during the launch of the…

Tade Oyerinde, a visionary entrepreneur originally from Nigeria, has successfully raised $46 million in Series B funding for his innovative for-profit community college startup, Campus. This initiative is designed to transform the landscape of higher education accessibility in the United States. The funding round, which was led by General Catalyst…

Alphabet, the parent company of the tech powerhouse Google, is embarking on a new venture that pits it against Elon Musk’s Starlink in the competitive landscape of internet connectivity. The initiative, known as Taara Lightbridge, was initially conceived within Alphabet’s innovative X division, often referred to as its “moonshot” factory.…

Flutterwave, recognized as Africa’s premier payments technology company, has made significant strides in expanding its presence in Ghana by integrating a new payment option: Pay With Bank Transfer. This initiative is in collaboration with Affinity Bank, marking a pivotal development in the region’s payment landscape. In 2023, Ghana recorded over…

Sixteen remarkable engineering innovators from seven African nations have been selected as finalists for the prestigious 2025 Africa Prize for Engineering Innovation, organized by the Royal Academy of Engineering. This year, the competition saw an unprecedented number of applications, with submissions coming from a record 30 countries across the continent.…

Nigeria has experienced the most significant decline in cash transactions among six cash-reliant economies over the past decade, driven by the rapid adoption of digital payments and increasing partnerships with fintech companies, according to a report by global payment processing firm Worldpay. From 2014 to 2024, cash transactions in Nigeria…

Nigerian edtech company Gradely has announced the appointment of Adebayo Alomaja as its new Deputy CEO. Adebayo Alomaja, who initially joined Gradely as a tutor in 2019, has been instrumental in driving the company’s international tutoring business to achieve six-figure annual recurring revenue. In his new role, Alomaja, also known…

South Africa’s Plentify, an innovative home energy management company, has been honored with the EEP Africa Project of the Year 2024 award, recognizing its groundbreaking technology and significant impact in tackling Africa’s energy challenges. This accolade underscores Plentify’s commitment to transforming the energy landscape on the continent. Plentify is a…

For a company that once aimed to revolutionize urban mobility through its technology-driven bus network, Egypt’s SWVL has experienced a tumultuous journey. After a phase of aggressive global expansion fueled by substantial investments, the Cairo-based startup confronted a harsh reality characterized by mounting financial pressures. This situation resulted in widespread…

Egyptian fintech startup Telda, which has garnered support from prominent global investors including Sequoia Capital, has made a significant move by acquiring the local securities brokerage firm City Capital. This acquisition represents a crucial step in Telda’s ambition to evolve into a comprehensive digital financial services platform. The announcement follows…

Egyptian fintech startup Bokra has achieved a significant milestone by securing an essential operating license from the Financial Regulatory Authority (FRA) of Egypt. This approval is a pivotal advancement for Bokra, which operates as a Sharia-compliant investment platform. The license comes approximately one year after the company successfully raised $4.6…

Unity Bank has officially appointed Ebenezer Kolawole as the Acting Managing Director and Chief Executive Officer, taking over from Oluwatomi Somefun, who has retired after a decade of dedicated leadership. This significant appointment has received the endorsement of the Central Bank of Nigeria (CBN) and was publicly announced during the…

Adeniyi Abiodun, co-founder of the blockchain infrastructure firm Mysten Labs, along with his wife, Gloria Abiodun, has announced the establishment of a $1.3 million endowment fund aimed at training African software engineers. This initiative seeks to address the critical shortage of tech talent in the region’s rapidly expanding technology ecosystem.…