Google, in its commitment to fostering entrepreneurship and supporting underrepresented communities, has unveiled the 25 selected startups for its 2023 Black Founders Fund cohort in Africa.
The program aims to empower black-led startups in the continent, providing them with funding, mentorship, and access to resources necessary for their growth and success.
The Black Founders Fund is part of Google’s ongoing efforts to promote diversity and inclusion.
Now in its third year, the Fund supports Black founders by addressing the inequality in VC funding in Africa’s tech ecosystem.
According to Google, this year, each selected startup will receive up to $150,000 in non-dilutive cash awards, $200,000 in Google Cloud credits, Google Ads support, and one-on-one mentoring from Googlers and industry experts.
Since its inception in 2021, participating founders have reportedly seen a 21% rise in employment, with women filling 46% of these positions, and a notable 7% increase in monthly recurring revenue to over $6.1 million.
Here are the selected startups for the 2023 cohort:
The Microsoft-backed FAST (Foundation for African Startups and Technology) Accelerator has announced the selection of 12 promising startups from across Africa for its highly competitive AI program.
C-One Ventures, a Nigerian investment company with a focus on technology and finance, has completed the acquisition of Bankly, a licensed microfinance bank.
Moniepoint Inc., a Nigerian fintech company, has received regulatory approval to acquire Kopo Kopo, a Kenyan credit startup. The transaction value has not been disclosed.
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