Category: Key developments

Posted on by — Leave a comment

Proparco backs DisrupTech Ventures with $5 million to invest in Egypt’s fintech space

Key Developments

Proparco backs DisrupTech Ventures with $5 million to invest in Egypt’s fintech space

| Article

Proparco, a leading development finance institution, has invested 45 million in Disruptech Ventures to accelerate the growth of Egypt’s fintech sector.
 

DisrupTech Ventures is an early-stage venture capital fund aiming to provide seed funding to up to 28 startups. The VC fund raised $36 million from several investors, including Development Finance Institutions, Funds-of-funds and Family offices. The investment is projected to be an important financing source for Egyptian tech companies, which often struggle to raise capital to bring their innovations to market.

 

Launched two years ago, DisrupTech was established to support early-stage Fintech and Fintech-enabled digital services startups focusing on Egypt. The firm adopts a hands-on approach from the beginning, partnering with talented entrepreneurs to transform their vision into reality.

Related Articles

Register Now

Empower Africa Times Newsletter

Share :

You may also like...

Posted on by — Leave a comment

Fingo Africa teams up with Ecobank to become Kenya’s first neobank

Key Developments

Fingo Africa teams up with Ecobank to become Kenya’s first neobank

| Article

Siemens Fingo Africa, a YC-backed fintech, has partnered with Ecobank to launch the first neobank in Kenya.
 

The collaboration marks a significant milestone in Kenya’s banking sector and sets the stage for a new era of accessible and innovative banking solutions. Founded in 2021, Fingo aims to empower youths to create a wealthier Africa with distinctly designed financial products. The startup’s collaboration with Ecobank combines the agility and innovation of a neobank with the stability and expertise of an established financial institution.

 

Fingo seeks to deliver financial services such as savings, insurance, and credit to its users at cheaper transfer fees, subsidized rates at pay bills, and cash-back rewards, among other features.

Related Articles

Register Now

Empower Africa Times Newsletter

Share :

You may also like...

Posted on by — Leave a comment

 ADF, Smart African Alliance join forces to boost digital trade in Africa.

Key Developments

ADF, Smart African Alliance join forces to boost digital trade in Africa

| Article

Siemens The African Development (ADF), in partnership with the Smart Africa Alliance, has launched a new project to drive digital trade in Africa.

The $1.5 million project will support the implementation of digital trade facilitation systems in several African countries. Burundi, Kenya, Malawi, Rwanda, Uganda, Tanzania, and Zambia, are among the countries that will benefit from the project. The DATC project is expected to improve trade efficiency in Africa by reducing transaction costs, enhancing predictability, and reducing trade-related risks.

Related Articles

Register Now

Empower Africa Times Newsletter

Share :

You may also like...

Posted on by — Leave a comment

YALI, Microsoft ADC partner to empower African youth with digital skills

Key Developments

YALI, Microsoft ADC partner to empower African youth with digital skills

| Article

The Young African Leadership Initiative (YALI) has partnered with Microsoft Africa Development Center (ADC) to improve the digital skills of young people in the East Africa region.

Through this partnership, YALI and Microsoft ADC will work together to equip African youth with the digital skills they need to succeed in the 21st-century workforce. The partnership will leverage the YALI network of young leaders and Microsoft’s resources to provide training and mentorship in digital skills such as data analysis, artificial intelligence, and cloud computing.

This will help young Africans acquire the technical skills and knowledge required for jobs in the digital economy, where demand for skilled workers is rapidly increasing.

Related Articles

Register Now

Empower Africa Times Newsletter

Share :

You may also like...

Posted on by — Leave a comment

 Afrilabs welcomes 19 new hubs to supercharge African innovation

Key Developments

Afrilabs welcomes 19 new hubs to supercharge African innovation

| Article

AfriLabs, one of Africa’s leading networks of technology and innovation hubs, to supercharge African innovation.

This expansion marks a significant milestone in AfriLabs’ mission to catalyze innovation, entrepreneurship, and technology-driven growth throughout Africa. By embracing these new hubs, AfriLabs further solidifies its position as a powerhouse, propelling Africa to the forefront of global innovation. The 19 hubs joining the esteemed AfriLabs network are strategically located across various African countries, ensuring a broad and inclusive representation of the continent’s innovation landscape.

By joining forces, AfriLabs and the newly added hubs will facilitate collaboration, knowledge sharing, and resource mobilization, empowering entrepreneurs, startups, and innovators across Africa.

The newly-added hubs include:

1. Enroot (Egypt)

2. Entrepreneurship Center of Social Impact-(Egypt)

3. Ichraf Jarray of Hive12 (Tunisia)

4. Soha Amer of Universite Senghor (Egypt)

5. iZet Hub (Kenya)

6. Knowledge Hub (KHub) (Ethiopia)

7. WiseHub (Kenya)

8. Antler Foundation Nairobi (Kenya)

9. Knight Ventures (Nigeria)

10. Axia Technology & Innovation Hub (Nigeria)

11. Eridan Group (Nigeria)

12. Mainstream Exelient Hub (Nigeria)

13. AfriTech Hub (Ghana)

14. TechHubHarare (Zimbabwe)

15. Acelera (Angola)

16. Afrisource Innovation Center (Namibia)

17. Fondation Bantu Hub (Congo)

18. IDENTIC Foundacion (Equatorial Guinea)

19. LPC Space (Equatorial Guinea).

 

Related Articles

Register Now

Empower Africa Times Newsletter

Share :

You may also like...

Posted on by — Leave a comment

Zambia: MTN launches Skills Academy to empower youth with digital skills

Key Developments

Zambia: MTN launches Skills Academy to empower youth with digital skills

| Article

Siemens Did you know that the digital gap in Africa remains a significant challenge, with internet penetration estimated to be around 39.3%

The facility will provide the necessary financial resources to support the growth and development of private sector operations in Africa, which will, in turn, create more jobs, increase productivity, and foster inclusive economic growth. The loan will support various private sector operations, including infrastructure development, agribusiness, energy, and manufacturing. It will also provide financing for small and medium-sized enterprises (SMEs) in Africa, which is critical to job creation and economic growth.

Related Articles

Register Now

Empower Africa Times Newsletter

Share :

You may also like...

Posted on by — Leave a comment

AfDB secures $350 million from JICA to support Africa’s private sector

Key Developments

AfDB secures $350 million from JICA to support Africa’s private sector

| Article

The African Development Bank Group (AfDB) has secured a $350 million loan from the Japan International Cooperation Agency (JICA) to enhance its support for private sector operations in Africa.

The facility will provide the necessary financial resources to support the growth and development of private sector operations in Africa, which will, in turn, create more jobs, increase productivity, and foster inclusive economic growth. The loan will support various private sector operations, including infrastructure development, agribusiness, energy, and manufacturing. It will also provide financing for small and medium-sized enterprises (SMEs) in Africa, which is critical to job creation and economic growth.

Related Articles

Register Now

Empower Africa Times Newsletter

Share :

You may also like...

Posted on by — Leave a comment

African Startups to benefit from Capria Ventures’ new $100 million fund

Key Developments

African Startups to benefit from Capria Ventures’ new $100 million fund

| Article

Capria Ventures, the global investment firm focused on backing early-stage impact-driven businesses, announced its first Global South Fund II close at $100 million.

The new fund will focus on investing in 20-25 tech startups in Africa, India, Southeast Asia, Latin America, and the Middle East. The Global South Fund II aims to generate positive social and environmental impact in sectors such as healthcare, education, financial inclusion, and agriculture.

The fund’s investors include a mix of development finance institutions, family offices, and institutional investors from around the world.

Key among the investors in the fund includes Gates Ventures, the investment vehicle of tech mogul, Bill Gates. Other institutional investors include Crystal Springs Foundation, Inc., OIP Investment Trust, Sall Family Foundation, and Brakeman Family Trust, as well as two founders of Pioneer Square Labs. The Global South Fund II builds on the success of Capria’s first fund.

Related Articles

Register Now

Empower Africa Times Newsletter

Share :

You may also like...

Posted on by — Leave a comment

Amethis launches $490 million pan-African fund targeting African companies.

Key Developments

Amethis launches $490 million pan-African fund targeting African companies

| Article

Private equity firm Amethis has launched a $490 million pan-African fund to support high-potential companies across the continent.

With a track record of over 25 investments in 14 countries, Amethis has already significantly impacted Africa’s private equity landscape. The new fund will enable the firm to continue supporting entrepreneurs and businesses, making a difference in Africa’s future. The $490 million fund will focus on investing in high-growth sectors such as healthcare, education, financial services, and consumer goods. Amethis’ latest move comes at a time Africa’s private equity market is rapidly evolving, with the pan-African fund a clear demonstration of the firm’s commitment to driving sustainable socio-economic development on the continent.

Related Articles

Register Now

Empower Africa Times Newsletter

Share :

You may also like...