Author: Tapiwa Matthew Mutisi

Bio-Logical, a Kenyan startup dedicated to climate solutions, has successfully raised $1.3 million to enhance its biochar production facility located near Mount Kenya. The investment is aimed at boosting the facility’s output and supporting the company’s mission to improve the economic well-being of small-scale Kenyan farmers. The funding round was…

Dopay, an Egyptian fintech company specializing in digital payroll solutions for the unbanked and underbanked workforce in emerging markets, has successfully completed a $13.5 million Series A extension funding round. The round was led by Argentem Creek Partners, with additional contributions from existing investors. The company intends to use the…

TurnStay, a South African fintech startup with a focus on the travel sector, has successfully raised $300,000 to fuel its expansion across additional African markets and to further capitalize on the substantial progress it has already made. The company was established by seasoned entrepreneurs Alon Stern, who previously co-founded Slide…

Ride-hailing drivers in Kenya commenced a five-day strike action starting yesterday, with demands for better compensation and the elimination of value-added taxes on their earnings. On the first day of the strike, drivers gathered to demonstrate at the offices of the National Transport and Safety Authority (NTSA). Their protest follows…

Google has become one of the investors in Moving Tech, the company behind the open-source ride-sharing application Namma Yatri in India, which is challenging the dominance of Uber and Ola with its innovative commission-free model. Namma Yatri operates on the Open Network for Digital Commerce (ONDC), a government-supported framework designed…

The Nigerian Communications Satellite Limited (NIGCOMSAT) has initiated the process to replace its current communications satellite, NIGCOMSAT-1R, and is actively seeking international investors and partners to support the endeavor. The initiative, spearheaded by NIGCOMSAT’s Managing Director, Jane Nkechi Egerton-Idehen, is a response to the impending expiration of NIGCOMSAT-1R’s operational lifespan,…

Oasis Capital Ghana, a fund manager with a focus on West Africa, has successfully garnered $33.3 million in initial pledges towards its ambitious $100 million target for the newly established Oasis Africa Fund II (OAF II). The firm is set to continue its fundraising efforts with the goal of securing…

Sanari Capital, a private equity firm with a focus on nurturing growth-stage companies in Africa, has recently declared a substantial follow-on investment of R80 million, which is equivalent to approximately $4.4 million, into EduLife Group. EduLife Group operates a burgeoning network of independent educational institutions across South Africa. The primary…

Airtel Uganda, one of the leading telecommunications companies in Uganda, has announced its intention to offload the remaining shares from its previously undersubscribed initial public offering (IPO) in order to fulfill the country’s regulatory mandates. During the IPO in 2023, Airtel Uganda managed to sell only 54.45% of the available…

For the first time, the Cyber Security Authority (CSA) of Ghana has officially issued licenses and accreditations to a total of 51 entities operating within the cybersecurity sector. The accredited parties span a diverse range of cybersecurity stakeholders, including Cybersecurity Service Providers (CSPs) such as Virtual Infosec Africa, e-Crime Bureau,…

BasiGo Rwanda, an electric vehicle (EV) company, has been awarded a RWF 300 million ($225,000) recoverable grant by Ireme Invest, the investment arm of the Rwanda Green Fund, aimed at enhancing its electric charging infrastructure. This financial boost is intended to support the increasing number of electric public transport buses…

Hala, a pioneering e-hailing service headquartered in Dubai, is embarking on an international growth strategy by entering the Egyptian market through a strategic alliance with MwaslaTech, an Egyptian enterprise specializing in intelligent transportation and communal mobility solutions. The formalization of this partnership has been achieved through the signing of a…

The Ministry of Finance and Budget in the Central African Republic has taken decisive action against Telecel Central African Republic by closing its offices due to the company’s failure to settle a substantial tax debt of approximately $4.4 million. Reports have surfaced indicating that Telecel has not demonstrated a willingness…

NuRAN Wireless, a prominent player in the provision of mobile and broadband wireless infrastructure, has recently obtained a $5 million loan facility from Cygnum Capital’s Facility for Energy Inclusion (FEI). This financial boost is aimed at expediting the company’s network deployment initiatives across the African continent. Within the upcoming week,…

Safaricom has taken the lead over Airtel Kenya in the race to expand fifth-generation (5G) network technology, according to the latest figures revealed in Safaricom’s annual report. By the close of March 2024, Safaricom had successfully activated a total of 803 5G sites, surpassing Airtel’s count of 690. This milestone…

President Yoweri Kaguta Museveni of Uganda recently held a meeting with representatives from Huawei, a leading global provider of information and communications technology (ICT) infrastructure and smart devices. During this meeting, Huawei expressed its plan to create a digital prototype village in Uganda. The proposed digital village is set to…

NeuRaL AI, a Nigerian enterprise specializing in artificial intelligence technologies, has unveiled its latest offering, REACTOR—an AI platform crafted to facilitate the effortless incorporation of Generative AI into the workflows of businesses and organizations. This service is available through a subscription model, with a base price of ₦99,000 per month,…

Nigeria’s national cybersecurity team, ngCERT, is actively engaged in managing and mitigating a series of ransomware attacks targeting local cloud service providers, including at least one confirmed incident involving Phobos ransomware. In a recent statement released on Monday, ngCERT reported a surge in ransomware attacks, particularly those leveraging Phobos, a…

The Financial Sector Conduct Authority (FSCA) of South Africa is currently conducting investigations into thirty cases where individuals or businesses have been providing cryptocurrency services without possessing the necessary legal permissions. This move is in line with the FSCA’s previous statements, which cautioned that entities operating without a license would…

The “Meet the Tôshikas” initiative has recognized six African technology startups as finalists in a program that aims to immerse Japanese investors in the vibrant startup ecosystems of Africa, while also guiding the selected African startups on a journey to become investment-ready. This program is an endeavor of the United…