Tag: Digital Transformation

Venture Capital firm HAVAÍC has successfully raised $15 million in commitments for its third African Innovation Fund, marking the first close of the $50 million fund.

The International Finance Corporation (IFC), Proparco, and Helios Sports and Entertainment Group have announced a strategic partnership to drive growth in Africa’s sports and entertainment sector.

Synapse Analytics, an Egyptian artificial intelligence (AI) startup, has secured a $2 million investment to expand its AI-powered solutions across the Gulf Cooperation Council (GCC) and Africa.

Chinese electric vehicle (EV) manufacturer, Chery, has announced a $20 million investment in Kenyan auto dealer, Afrigreen Automobile.

Egyptian ed-tech startup Educatly has raised a $2.5 million funding round led by TLcom Capital and Plus VC, with participation from Egypt Venture and Ireland’s HBAN syndicate.

The World Bank has pledged a $100 million investment to accelerate Zambia’s digital transformation through the Digital Zambia Acceleration Project (DZAP).

Cartona, one of the leading B2B e-commerce platforms in Egypt, has successfully raised an additional $8.1 million in a Series A extension round, bringing the total Series A funding to $20.1 million.

The first half of 2024 marked a challenging period for African startups, with a substantial decline in total funding compared to H1 2023.

Arise IIP and Africa Finance Corporation (AFC) have joined forces to establish a $100 million fund dedicated to supporting African entrepreneurs.