Author: Tapiwa Matthew Mutisi

African technology startups have been extended an invite to participate in the investment showcase segment of the upcoming Africa Tech Summit (ATS) in London, scheduled to take place this June. ATS London has gained recognition as a prominent technology-centric summit that catalyzes business and investment connections throughout the African continent.…

The government of Ghana has embarked on an initiative to formulate and implement local content regulations specifically for the telecommunications industry, with an aim to bolster reliance on indigenous resources and to give precedence to Ghanaian telecom enterprises. At a notable event held in Accra, the capital city of Ghana,…

M-KOPA, a leading fintech platform based in Nairobi that specializes in offering digital financial solutions to the underbanked population in Africa, has partnered with Bolt to introduce an innovative electric motorcycle (e-bike) initiative in Kenya. The strategic collaboration is orchestrated by M-KOPA’s Mobility division and aims to deploy a fleet…

Nadeem Anjarwalla, an executive affiliated with the cryptocurrency exchange Binance, who had previously escaped from legal custody in Nigeria, has recently been detained by the Kenya Police Service. Anjarwalla, who managed to elude capture in Nigeria, is now in custody and is anticipated to face extradition proceedings facilitated by the…

Bokra, an innovative financial technology enterprise based in Egypt, has successfully secured a substantial amount of $4.6 million during its pre-seed funding phase. This notable financial injection is primarily aimed at initiating the formal launch of the Bokra mobile application, enhancing the spectrum of investment vehicles on offer, and further…

IvoryPay, a pioneering company in the blockchain-powered payment and remittance sector, has forged a significant collaboration with Tether, the original issuer of the notable stablecoin, USDT, to advance cryptocurrency transactions throughout the African continent. Renowned for developing USDT, one of the world’s premier stablecoins, Tether has entered an agreement to…

The African healthcare sector has received an open invitation for participation in the fourth cohort of the Home Grown Solutions Accelerator for Pandemic Resilience, an initiative hosted by AUDA-NEPAD. The Home Grown Solutions Accelerator has been strategically established to bolster the African healthcare landscape by expediting the development of native…

AfriLabs, the preeminent pan-African network encompassing innovation and technology hubs, recently celebrated a milestone expansion as it incorporated 16 additional hubs into its fold. This strategic enlargement enhances the network’s reach to a total of 478 hubs, now spanning over 260 cities across 53 nations within the African continent. As…

Bluworks, a burgeoning HRtech enterprise headquartered in Egypt, has recently announced the closing of a substantial $1 million pre-seed funding round. This investment is set to be channeled into enhancing the company’s product offerings and bolstering its workforce. The financing endeavor was spearheaded by Khawarizmi Ventures, with Camel Ventures and…

The First Bank of Nigeria has officially announced a major transition in its leadership, with Olusegun Alebiosu being appointed as the acting Managing Director and CEO. Alebiosu, who has previously held high-level roles within the bank, including Executive Director, Chief Risk Officer, and Executive Compliance Officer, is poised to take…

TLcom Capital, a prominent venture capital firm situated in Nairobi, has successfully concluded the funding round for its latest endeavor, TIDE Africa II, amassing a significant $154 million aimed at supporting nascent early-stage startups. This new fund marks a momentous leap from the firm’s initial venture, which accumulated $71 million…

Bayobab, a company specializing in digital infrastructure, has announced the successful completion of a key organizational restructuring by separating and acquiring fibre-optic assets from its affiliate, MTN Zambia. The announcement was made by Bayobab, which operates under the MTN Group umbrella, and marks a significant step in its efforts to…

The French broadcasting giant Groupe Canal+ has recently expanded its stake in South African pay-TV behemoth MultiChoice by purchasing an additional 3,653,492 shares. As a result of this acquisition, Groupe Canal+ now holds a commanding 40.83% interest in MultiChoice. This latest increase in ownership took place over the course of…

Equity Bank, headquartered in Kenya, recently fell victim to a debit card fraud incident in which hackers absconded with $2.1 million. The bank, which holds the title of Kenya’s largest, forwarded a detailed correspondence to the nation’s Directorate of Criminal Investigation, chronicling the illicit transfer of the pilfered funds across…

In an assertive move to tackle fraudulent activities, Wema Bank, recognized as one of Nigeria’s key commercial financial institutions, has taken decisive action against several fintech collaborators connected to its payment gateway platform. The bank’s stringent decision led to the expulsion of three fintech firms and the suspension of four…

The Kenyan government is intensifying its regulatory efforts targeting TikTok by requiring the popular video-sharing platform to submit detailed compliance reports on a quarterly basis. This step is part of a broader initiative to curb the adverse impacts of TikTok’s operations within the country rather than imposing a ban. The…

Ster-Kinekor, the prominent cinema chain, is poised to undertake significant downsizing by dismissing nearly a third of its staff, which translates to 236 employees out of its current workforce of 728. In tandem with the layoffs, the company also plans to shutter up to nine of its movie theatres across…

In a strategic move to reinforce its management cadre, Cellulant, a key player in the African payment services sector, has infused its leadership ranks with seasoned executives from internationally recognized payment companies. This pivot toward enhancement of expertise is set against the backdrop of former CEO Akshay Grover’s resignation three…

Amazon’s U.S. website currently claims the title of the third most frequented e-commerce destination among South African consumers, despite the company not having an official local marketplace in the region yet. This trend prompts speculation from industry observers that Takealot, a prominent local online retailer, might face significant challenges when…

Spatialedge, a South African company specializing in AI-powered software, has secured an investment of R60 million, equivalent to approximately $3,154,640 USD, contributed by Hlayisani Growth Fund. The financial injection is poised to accelerate the company’s product development and expand its customer base. The company has articulated that this fresh capital…