
Egyptian Fintech Startup Palm Secures Pre-Seed Funding to Boost Smart Savings
Palm, a financial technology startup based in Egypt, has completed its pre-seed funding round.
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Google has announced a $37 million investment to advance artificial intelligence (AI) initiatives across Africa.
The funding will support a wide range of programs including local research, language innovation, food security solutions, and startup development in sectors like health and education.
The announcement was made during the launch of a new AI Community Center in Accra, Ghana.
The facility will serve as a regional hub for AI training, experimentation, and collaboration.
Speaking at the launch, James Manyika, Senior Vice President at Google, emphasized the significant AI work already taking place in Africa.
One of the key programs introduced is the AI Collaborative for Food Security, which aims to link researchers and nonprofit organizations to create tools that improve early hunger detection, enhance crop resilience, and support small-scale farmers with better decision-making tools.
The initiative is part of broader efforts to strengthen Africa’s ability to deal with climate-related and economic challenges.
AI technology is already in use among some African farmers. In Nigeria, for example, local agri-tech companies are using AI to track soil health and monitor environmental conditions in farming operations.
Google is also establishing a new funding platform to support AI-focused startups working in agriculture, healthcare, and education.
Additionally, through its charitable division, Google.org, the company has pledged $7 million to expand AI education programs in Nigeria, Kenya, South Africa, and Ghana.
Further support will go to Masakhane, a grassroots tech group working to develop AI tools for over 40 African languages. The organization will receive $3 million to continue its work on language inclusion.
Two South African institutions — the African Institute of Data Science and Artificial Intelligence and the Wits Machine Intelligence and Neural Discovery Institute — will each receive $1 million in research grants to further AI research on the continent.
This multi-faceted funding initiative marks one of Google’s largest single commitments to artificial intelligence in Africa to date, underscoring the company’s growing focus on supporting local innovation and resilience.

Palm, a financial technology startup based in Egypt, has completed its pre-seed funding round.

Founded in 2019, Kuda has rapidly evolved into one of the most prominent fintech startups in Africa, offering innovative financial solutions and reshaping the way individuals access and manage their money.

Dédougou Solaire has secured €17.2 million to build and operate an 18 MWp solar power plant in Dédougou, Burkina Faso.