20 African startups chosen for 4th Future is Female Mentorship Programme
The 4th edition of the “Future is Female Mentorship Programme” has unveiled its selection of 20 pioneering startups led by women entrepreneurs.
August 10, 2023
KEY DEVELOPMENTS
Kenya’s Lipa Later and Mastercard join forces to accelerate Buy Now, Pay Later solutions across Africa
Kenyan startup Lipa Later has entered into a strategic partnership with Mastercard to accelerate the adoption of Buy Now, Pay Later (BNPL) solutions throughout Africa.
August 9, 2023
Early-stage VC firm Antler ventures into North Africa with new $60 million Fund
Antler, the globally renowned early-stage venture capital firm, is expanding its horizons to North Africa by launching a transformative $60 million early-stage fund.
August 7, 2023
British company Bboxx and EV firm Spiro team up to accelerate electric mobility in 3 African countries
Bboxx, a leading provider of clean energy solutions, has joined forces with Spiro, a prominent electric mobility company, to accelerate the adoption of electric vehicles (EVs) in three African countries.
August 6, 2023
E-mobility firm Roam opens factory in Kenya to manufacture 50,000 electric bikes annually
Roam, a leading electric mobility firm, has officially inaugurated its state-of-the-art factory in Nairobi. The facility will manufacture 50,000 electric motorbikes annually.
August 3, 2023
BioNTech completes $550 million acquisition of Tunisian AI startup InstaDeep to bolster AI-powered drug discovery
BioNTech, the renowned German biotechnology company, has finalized the acquisition of Tunisia’s artificial intelligence (AI) startup, InstaDeep, in a deal worth $550 million.
August 2, 2023
Kenya’s leading telco Safaricom to start investing in tech startups via new funding ventures
Safaricom, Kenya’s leading telecommunications giant, has revealed its ambitious plan to bolster the tech startup ecosystem by launching two new subsidiaries.
August 1, 2023
AfriLabs partners with the U.S. Department of State to tackle climate crisis in Africa through entrepreneurship
AfriLabs, one of Africa’s largest networks of technology and innovation hubs, has joined hands with the United States Department of State to tackle the climate crisis in Africa through entrepreneurship.
July 31, 2023
BasiGo to Spearhead Rwanda’s Electric Mobility Revolution with the Introduction of Electric Buses
Rwanda’s vision for a greener and more sustainable future takes a giant leap forward as BasiGo, a renowned electric vehicle manufacturer, announces its plans to bring electric buses to the streets of Rwanda.
July 27, 2023
Mastercard teams up with Nigerian B2B e-commerce platform Alerzo to digitize African SMEs
Mastercard has partnered with Alerzo, a fast-growing Nigerian startup, to digitize African SMEs. The collaboration aims to drive financial inclusion and support the growth of the sector.
July 26, 2023
Solar energy company Starsight Energy secures $20 million to power East Africa with solar energy
The funding injection aims to accelerate the expansion of clean energy access across the East Africa region and marks a significant milestone in the company’s mission to drive sustainability and economic growth
July 24, 2023
Investment platform Africa50 and the International Solar Alliance partner to finance solar energy in Africa
Africa50, an investment platform that finances infrastructure projects in Africa, and the International Solar Alliance (ISA), an intergovernmental organization that promotes solar energy in developing countries, have signed a partnership agreement to finance solar energy projects in Africa.
July 19, 2023
Zambian solar energy company MySol raises $7.7 million to elecrify 40,000 people with solar energy
Zambia-based solar energy company, MYSOL, has secured $7.5 million in funding to accelerate the deployment of off-grid solar electrification projects across the country.
July 14, 2023
AI company Flapmax launches program to help African startups scale up and raise capital
The program, which is open to startups from all over the continent, will provide participants with access to mentorship, training, and funding opportunities.
July 13, 2023
Invest International injects $10.8M in uMunthu II Fund to support African SMEs
By providing capital, strategic guidance, and mentorship, the fund aims to unlock the growth potential of African businesses and contribute to their long-term success
July 10, 2023
Nuru, a leading renewable energy company, has secured over $40 million in funding to expand its efforts in providing access to clean and sustainable energy solutions
This significant investment will empower Nuru to expand its efforts in providing access to clean and sustainable energy solutions in DR Congo, heralding a new era of progress and environmental stewardship.
July 7, 2023
Eastcastle, a telecom infrastructure provider, gets $60 million investment from IFC to accelerate digital connectivity in DRC
The funding will be utilized to expand EastCastle’s telecom towers network across the Democratic Republic of Congo (DRC), bolstering connectivity and improving access to telecommunications services in the country.
July 7, 2023
Digital-first and data-led distribution platform Kyosk Digital Services acquires KwikBasket to revolutionize the African fresh produce market
Kyosk aims to leverage its technological prowess to streamline the supply chain, enhance convenience, and improve access to high-quality fresh produce across the continent.
July 7, 2023
FAO to launch fall armyworm research Hub in Kenya to pave way for innovative solutions in crop protection
The Food and Agriculture Organization (FAO) has announced plans to establish a dedicated Fall Armyworm Research Hub in Kenya.
July 6, 2023
Kenya secures $21 million from AfDB to support women and youth entrepreneurs in Agriculture – Copy
The African Development Bank (AFDB) has approved a $21 million financing to support Kenyan youths and women entrepreneurs in agriculture.
July 6, 2023
SEACOM secures $207 million from IFC to boost digital connectivity in Africa
SEACOM LTD, one of the leading Pan-African data services providers, has secured $207 million in funding from the International Finance Corporation (IFC) to accelerate digital connectivity in seven African countries.
July 6, 2023
Senegal gets $50 million from World Bank to digitize its healthcare system
The investment aims to modernize healthcare services, improve access to quality care, and foster digital transformation in the country’s healthcare sector.
June 30, 2023
CrossBoundary Energy Raises $50 Million to Accelerate Clean and Reliable Power for African Businesses
Key Developments CrossBoundary Energy Raises $50 Million to Accelerate Clean and Reliable Power for African Businesses | Article CrossBoundary Energy, a leading provider of clean
June 23, 2023
54 African investors were selected to join Dream VC’s accelerator program to drive Africa’s VC space
Dream VC, a leading global accelerator program focused on fostering entrepreneurship and venture capital growth, has selected 54 African investors for its accelerator program
June 23, 2023
Visa launches fintech accelerator program for African startups
Visa, a global leader in digital payments, has announced the launch of its highly anticipated fintech accelerator program specifically designed for startups in Africa.
June 23, 2023
Google’s Black Founders Fund Invests in 25 African Startups
Google has announced the 25 African startups selected for the third cohort of Google for Startups’ Black Founders Fund.
June 23, 2023
The Baobab Network funds five promising startups
The Baobab Network, a Nairobi-based accelerator and investment firm, has invested $50,000 into five promising African startups.
June 23, 2023
Is Fintech in Africa Ready For A New Goliath? Gain Insights On How Multichoice Group Plans To Disrupt Africa’s Payments Landscape
MultiChoice Group, Rapyd and General Catalyst have teamed up to develop an integrated payment platform for Africa.
June 9, 2023
Can Rwanda Break Out From Its Dependence on Agriculture? A New Innovative Platform Aims to Provide 1.5 Million Farmers With New Livelihoods and Opportunities
The innovative initiative seeks to provide individuals with diverse income-generating opportunities and contribute to the country’s development agenda
June 9, 2023
Can Africa Manufacture Its Own Vaccines? Mastercard Foundation & IDP Partnership Is a Pivotal Step Towards Africa’s Health Independence
The Mastercard Foundation and the Institut Pasteur de Dakar (IDP) have unveiled a $45million partnership to strengthen Africa’s healthcare infrastructure and foster vaccine manufacturing autonomy.
June 9, 2023
How Are Drones Transforming Healthcare Access in Africa? Learn About A New And Innovative Transport Solution That Just Launched.
Siemens Healthineers Middle East, Southern & Eastern Africa and WINGCOPTER GmbH have partnered to launch Africa’s first integrated drone transport solution for medical supplies.
June 9, 2023
Kenya to launch 1 million locally assembled smartphones by July
The Kenyan government, in collaboration with industry stakeholders, is implementing the comprehensive plan to promote domestic smartphone assembly.
May 26, 2023
TIZETI and Microsoft partner to bring affordable internet to 5 million people in Ivory Coast
This collaboration aims to expand affordable and reliable internet access to more than 5 million people across the country, fostering digital inclusion and driving economic growth.
May 26, 2023
AfDB approves $11 million to facilitate fertilizer access for African farmers
AfDB apportioned the funding to the African Fertilizer Financing Mechanism (AFFM).
May 26, 2023
E3 Capital and Lion’s Head Climate Fund secure $48M to empower climate-focused startups in Africa
The two firms have joined forces to bridge the funding gap and support promising startups addressing climate change challenges in Africa
May 26, 2023
Madagascar gets $227 million from World Bank and the French Development Agency to boost climate-smart agriculture
The World Bank and the French Development Agency (Agence Française de Développement) are providing $227 million in financing to Madagascar to help the country boost its climate-smart agriculture sector.
May 18, 2023
Khazna Data Centers and Benya Group team up to build a $250 million state-of-the-art data centre in Egypt
The project aims to establish one of the largest data centers in the region, equipped with state-of-the-art facilities and cutting-edge technology.
May 18, 2023
Global tech firm TELUS International expands operations to Africa
TELUS International, a leading digital customer experience innovator, has announced the expansion of its global operations to Africa.
May 18, 2023
M-Kopa secures $250 million in one of Africa’s biggest tech fundraisings
M-KOPA, a pioneering company in the field of asset financing and renewable energy solutions in Africa, has secured over $250 million in a combination of debt and equity funding.
May 18, 2023
Proparco backs DisrupTech Ventures with $5 million to invest in Egypt’s fintech space
Proparco, a leading development finance institution, has invested $5 million in Disruptech Ventures to accelerate the growth of Egypt’s fintech sector.
May 11, 2023
Fingo Africa teams up with Ecobank to become Kenya’s first neobank
Fingo Africa, a YC-backed fintech, has partnered with Ecobank to launch the first neobank in Kenya.
May 11, 2023
ADF, Smart African Alliance join forces to boost digital trade in Africa.
This expansion marks a significant milestone in AfriLabs’ mission to catalyze innovation, entrepreneurship, and technology-driven growth throughout Africa.
May 11, 2023
YALI, Microsoft ADC partner to empower African youth with digital skills
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 African region.
May 11, 2023
Afrilabs welcomes 19 new hubs to supercharge African innovation
This expansion marks a significant milestone in AfriLabs’ mission to catalyze innovation, entrepreneurship, and technology-driven growth throughout Africa.
May 11, 2023
Zambia: MTN launches Skills Academy to empower youth with digital skills
In Zambia, South African multinational mobile telecommunications company MTN Group has launched a skills academy to empower the youth and bridge the digital skills gap.
May 4, 2023
AfDB secures $350 million from JICA to support Africa’s private sector
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.
May 4, 2023
African Startups to benefit from Capria Ventures’ new $100 million fund
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.
May 4, 2023
Amethis launches $490 million pan-African fund targeting African companies.
Private equity firm Amethis has launched a $490 million pan-African fund to support high-potential companies across the continent.
May 4, 2023
Tanzania’s Kakono gets $300 million to deliver clean energy
Powering up Tanzania: The African Development Bank Group, the French Development Agency (AFD) and the European Union (EU) have teamed up to invest $300m in Tanzania’s Kakono hydropower plant.
May 4, 2023
AstraZeneca to launch Africa Health Innovation Hub
Leading global pharmaceutical company AstraZeneca has announced the launch of its Africa Health Innovation Hub to increase access to healthcare on the continent.
April 20, 2023
VC firm Equator raises $40 million to back climate-tech African startups.
Equator, a VC firm focused on supporting innovative solutions to climate change, has raised $40 million in commitments to invest in African startups tackling climate challenges.
April 20, 2023
Kenya gets $378 million to electrify its public transport system
The European Union has provided Kenya with $378 million in funding to power the country’s electric Bus Rapid Transit (BRT) system.
April 20, 2023
DFC backs Novastar Ventures with $25 million to support African startups.
The U.S. International Development Finance Corporation (DFC) has invested $25 million in Novastar Ventures to support and invest in early-stage startups in Africa.
April 20, 2023
