NEWS
GreenHouse Capital announces the 13 Start-ups selected to participate in the Scale-Up accelerator program with Microsoft.
Following Microsoft’s announcement to support 10,000 start-ups in Africa over the next five years, GreenHouse Capital announced that 13 start-ups across East & West Africa had been selected to participate in the Scaleup Accelerator Program. Via Tech Cabal Read More
Zipline is launching its drone delivery services under “difficult” conditions in Nigeria
After operating for the past few years in Rwanda and Ghana, Zipline has opened its first distribution center in Nigeria. Via Quartz Africa Read More
AIMS Ghana and Google Collaborate to Help Advance Computing and Tech in Africa
In advancing the frontiers of scientific research in areas of specialization like artificial intelligence, the African Institute of Mathematical Sciences – Ghana (AIMS Ghana) has signed a Masters Sponsored Research Agreement (MSRA) with Google Research. The agreement seeks to further strengthen the partnership between both institutions as part of efforts to enforce their ongoing commitment to collaborate and advance computing and technology in Africa. Via TechAfrica News Read
4 rising sectors capable of stealing fintech’s dominance in African tech
While it doesn’t look like fintech’s dominance will wane anytime soon in Africa, there are other sectors on the continent getting significant funding, and you should be paying attention to them. Via TechCabal Read more
MONEY & DeFi
Safaricom partners with Visa to provide virtual cards for global transactions
Kenya’s biggest telecommunications operator, Safaricom, has launched a virtual payment card with Visa Inc, offering the more than 30 million users of its M-Pesa payments system access to global e-commerce platforms. Via AppsAfrica Read more
Kenya’s energy company is offering geothermal power to bitcoin miners
Kenya’s energy production company KenGen wants to offer bitcoin mining companies its surplus geothermal power to help them meet their energy needs. Via Quartz Africa Read More
Nigerian digital banking startup Grey expands to Kenya with Cellulant partnership
Launched in 2021 by Idorenyin Obong and Femi Aghedo, who wanted to help Nigerians easily exchange to local currency and access the foreign currencies in their accounts, Grey offers an international money transfer service that enables its users to send and receive international payments without restrictions quickly. Its products include foreign bank accounts, instant currency exchange, and international money transfers. Via Disrupt Africa Read More
Nigeria’s Sproutly is a virtual banking app for kids
Nigerian fintech startup Sproutly is a virtual banking app for children under the age of 17, providing digital savings products and a debit card with built-in parental control. Via TechCabal Read more
National Bank of Rwanda grants Virtual Pay authorisation to operate as a Payment Service Provider (PSP)
Virtual Pay International Limited has been licensed by the National Bank of Rwanda (BNR) to operate as a Payment Services Provider SP) in Rwanda. This licensing and authorisation is in accordance to regulation 05 or 2018 of 27 or 03 or 2018 governing PSPs. Via Business Insider Africa Read more
The role of Stablecoins in Africa’s Crypto Market
For many new and seasoned cryptocurrency investors, it is important to note that the ecosystem is characterized by bulls and bears – trending upwards or downwards depending on several market factors such as public hype, supply, demand, and investor sentiments, among others. Therefore, to sustain the community of users who aim to build wealth and enjoy the freedom of money through investments in cryptocurrency, niche digital currencies have been developed by exchange platforms to hedge against such volatility, known as Stablecoins. Via News Ghana Read more
📺 Marketing expansion and fundraising for Startupssession hosted at Africa Tech Summit Nairobi. Panelists unpack the growth of start-ups in the Continent, how COVID accelerated digital adoption across the world enabling leading tech companies on the Continent to tap into the capital available. Discussions on the opportunities and the barriers for startups in Africa from finding the value chain opportunities to expanding business and building a customer base with Gerald Maithya – SME and Startups Lead, Microsoft Africa Transformation Office – Microsoft, Bunmi Akinyemiju – Partner – GreenHouse Capital Africa, Sam Wanjohi – Founder & CEO – Popote Payments Ltd, Debo Omorulu – CEO & Co-Founder – GetFundedAfrica, and moderated by EduAbasi Chukwunweike – Partner Development Manager for ISVs and Start-Ups – Microsoft Watch Now
FUNDING
Talk360, International calling app, has secured $4 million in funding
International calling app Talk360, which enables people around the world to make reliable and affordable calls to any landline or mobile phone worldwide, has secured $4 million in funding as it prepares to launch a new pan-African payment platform in mid-2022.Via AppsAfrica Read More
Egyptian q-commerce platform Appetito bags Lamma for over $10M
Appetito, the Egyptian platform that delivers groceries and household products to customers from 11 dark stores across three cities in the North African country, is acquiring Lamma, an identical startup with operations in the Maghreb regions of Tunisia and Morocco. The deal is expected to close by the end of Q3 2022. Via Tech Crunch Read More
Mauritius-based fintech startup Finclusion Group raises funding from Cairo Angels
Mauritius-based fintech startup Finclusion Group has secured funding from the Cairo Angels Syndicate Fund (CASF), a micro venture capital fund that invests in early-stage startups in the Middle East and Africa. Via Disrupt Africa Read More
Betastore gets $2.5M to solve stockouts, financing challenges for informal retailers in West and Central Africa
About 80% of household retail in sub-Saharan Africa is delivered through informal channels, which perennially face several challenges like stockouts, leading to an instability in earnings and a lack of attractiveness to financiers. These challenges befall millions of microretailers across the continent, and Betastore, a B2B retail marketplace for informal retailers, is working to resolve in Nigeria, Ivory Coast and Senegal. Via TechCrunch Read More
E-commerce start-up Shopstar secures third funding round
Shopstar enables local entrepreneurs to build online stores. Launch Africa Ventures is known for its early investment into and backing of over 60 high-potential African technology start-ups. Via Venture Burn Read More
OPPORTUNITIES
Become a Catalyst Fund company
Catalyst Fund’s next cohort kicks off in July 2022 and are actively looking for early-stage startups that improve the resilience of underserved and climate-vulnerable communities in emerging markets. Read more
Afrobytes Marketplace VI.
Afrobytes returns in-person on June 14th – bringing together entrepreneurs, business executives, CEOs, academics, innovators, investors, venture capitalists, tech enthusiasts and media to explore business opportunities between the African tech ecosystem and players in the global tech world. Read more
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