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What Does Kenya’s Introduction of 20% Excise Tax for Digital Lenders Spell for Kenyans and Startups?

What Does Kenya’s Introduction of 20% Excise Tax for Digital Lenders Spell for Kenyans and Startups?

Digitalization has enabled businesses conduct business in locations where they do not have a physical presence. Tax laws are easier when they are based on a physical presence attributable to a permanent establishment rather than a virtual one. As a result, efficiently taxing the digital economy has become a critical

Virridy, Ecotech Startup Raises $5.5m Series A Round to Scale across Africa and North America

Virridy, Ecotech Startup Raises $5.5m Series A Round to Scale across Africa and North America

Kenya and US-based environment tech startup, Virridy which is committed to improving the management of environmental resources through technology, has raised $5.5 million in a Series A funding round to accelerate the development and adoption of its satellite-connected sensors for managing water, energy, and agricultural resources across Africa and

Kenyan Marketplace for Spare parts, Sparepap Raises Funding From Mobility 54

Kenyan Marketplace for Spare parts, Sparepap Raises Funding From Mobility 54

Sparepap, a Kenyan-based marketplace for engine spare parts, reinventing how Kenyans buy and sell spare parts through its app, named, SparePAP app, has raised an undisclosed amount. The funding came from Mobility 54 Investment, a corporate venture capital subsidiary of Toyota Tsusho Corporation, and the CFAO funding round. The after-sales

How Stitch Became an African Fintech Force in Just 1 Year

How Stitch Became an African Fintech Force in Just 1 Year

Stitch was officially launched in February 2021 after it had been in stealth mode 2 years. The south African Fintech startup has since pulled strides, ensuring that it disrupts the continent’s financial space. Stitch came out of stealth with a $4m seed round. The round has remained the largest

Africa-owned Fintech Firms, Chipper Cash and Esusu Named in Forbes Fintech 50 List 2022

Africa-owned Fintech Firms, Chipper Cash and Esusu Named in Forbes Fintech 50 List 2022

Africa-owned fintech firms, Chipper Cash which facilitates cross-border payments across Africa, and Esusu, a digital payment solution designed to simplify and automate the process of thrift savings, collection, microcredit, and financial inclusion for Africans have been named in the prestigious Forbes Fintech 50 list, 2022; Chipper Cash under Payments and

Nigeria's Klasha Secures Extra $2.1M to Bolster its cross-border Commerce

Nigeria's Klasha Secures Extra $2.1M to Bolster its cross-border Commerce

Klasha, a Lagos and San Francisco-based startup that provides multiple products for the African cross-border commerce space, has successfully secured $2.1 million from AMEX Ventures, the strategic investment group of American Express, and Global Ventures, a MENA-focused VC co-led investment, to round out its $4.5 million seed round.

The Next Wave: Income Inequality Concerns

The Next Wave: Income Inequality Concerns

A Global Outlook at Inequality The poorest half of the global population owns just 2% of the global total, while the richest 10% own 76% of all wealth. According to the UN, the average income of people living in North America is 16 times higher than that of people in

To issue prepaid cards to its clients, MFS Africa is acquiring U.S based GTP for $34M

To issue prepaid cards to its clients, MFS Africa is acquiring U.S based GTP for $34M

Pan-African digital payments company MFS Africa has announced plans to acquire U.S.-based Global Technology Partners (GTP) in a cash-and-shares deal worth $34 million. This deal, which is a very rare incident of an African company buying a U.S one will help MFS Africa consolidate on its next

Egypt's Insurtech Startup, Nice Deer Raises $1m Pre-seed Funding from DisrupTech

DisrupTech Ventures

Egypt's Insurtech Startup, Nice Deer Raises $1m Pre-seed Funding from DisrupTech

Egypt-based Nice Deer, an insurance tech-enabled startup that provides ingenious health insurance solutions to the Egyptian market has raised $1 million in a DisrupTech Ventures-led pre-seed funding round. Nice Deer was founded in Egypt early this year to bridge the gap between healthcare providers, health insurance companies, and health insurance

Nigerian Startup, ShopEX snaps $400,000 Pre-seed from HAVAIC

Nigerian Startup, ShopEX snaps $400,000 Pre-seed from HAVAIC

Nigeria based multi-channel retail startup, ShopEX, has raised a pre-seed funding of $400,000 from Cape Town venture capital firm, HAVAÍC. The investment forms part of a US$635,000 convertible notes round alongside existing angel investors. This brings the total investment raised by the startup to $885,000, with

Morocco-based FinTech and Reward Startup, WafR Raises $455k to Scale its Operations

Launch Africa Ventures

Morocco-based FinTech and Reward Startup, WafR Raises $455k to Scale its Operations

Morocco-based fintech and rewards startup WafR has raised $455,000 in a round led by Launch Africa Ventures, First Circle Capital, and WeLoveBuzz, with participation from a group of angel investors to expand its network of grocers. WafR is an application that allows retail brands to broadcast smart promotions to

Egypt’s Fintech Firm, ValU Partners FAS Labs to Extend its Offerings to the Saudi Market

Arabian Centers Company

Egypt’s Fintech Firm, ValU Partners FAS Labs to Extend its Offerings to the Saudi Market

valU, Egypt’s leading Buy-Now, Pay-Later (BNPL) lifestyle-enabling fintech platform in the MENA region, has expanded its digital financial solutions to customers in the Kingdom of Saudi Arabia through a partnership with FAS Labs, which is owned by Fawaz Abdulaziz Alhokair Co. (Alhokair) and Arabian Centers Company (ACC). FAS Labs

Nigeria’s Indicina Secures $3M from Target Global to Help Lenders Give Credit to their Customers

Nigeria’s Indicina Secures $3M from Target Global to Help Lenders Give Credit to their Customers

Nigeria-based fintech startup, Indicina which uses data to solve the loan eligibility challenge for lenders has secured $3 million in Target Global-led seed round to expand into new markets in Africa, reinforce its key product offerings, build more products for consumers’ credit recommendation, and bolster its infrastructure. Yvonne Johnson launched

African Politics Should Prioritize Tech Development

African Politics Should Prioritize Tech Development

African politics has always been characterized with pseudo promises. Adopting democracy accords the citizens of a state necessary relevance and power to hold elected officials accountable for failed promises. In navigating the affairs that strengthens Africa’s grip on the global tech pie, politics must offer more. This goes beyond

Egypt's Bus-hailing Startup, SWVL Shut Down Operations in Kenya and Pakistan Amidst Planned Layoff

Egypt's Bus-hailing Startup, SWVL Shut Down Operations in Kenya and Pakistan Amidst Planned Layoff

Swvl, an Egyptian bus-hailing startup has announced the suspension of its daily and city-to-city services in Kenya and Pakistan effecting from today. SWVL Daly, City-City, and Business-Business are the three services provided by the shared mobility startup in the countries. While SWVL Daly was created for intra-city rides in the

Kenya's Safaricom Partners Visa to Launch M-Pesa Virtual Visa Card for Global Digital payments

Kenya's Safaricom Partners Visa to Launch M-Pesa Virtual Visa Card for Global Digital payments

Safaricom, East Africa’s biggest telecommunication company and operator of the M-Pesa mobile money product, and Visa, one of the world’s major card payment companies, have announced the launch of a virtual card that allows M-Pesa customers to make digital transactions globally. The long-awaited M-Pesa GlobalPay Visa virtual card

Constant Ventures launches $100M fund to invest in West African Startups

venture capital

Constant Ventures launches $100M fund to invest in West African Startups

Constant Ventures, a part of the Constant Group is raising a $100 million venture capital fund to invest across a range of technology start-ups with a focus on financial inclusion, education and healthcare. Investee companies will initially be located across Nigeria and Ghana, with the fund set to target the

Nigeria's Tech Mobility Startup, DriveMe Raises Undisclosed Fund to Expand Across Nigeria

Nigeria's Tech Mobility Startup, DriveMe Raises Undisclosed Fund to Expand Across Nigeria

DriveMe, a Nigeria-based technology-enabled mobility startup that provides access to verified and professional drivers; through a one-stop platform aggregating product and service providers within the mobility space across Africa has today announced that It has raised an undisclosed amount in pre-seed funding round for product development and expansion across Nigeria.

Maisha Meds Hits 1,000 Active Facilities, Expands to Nigeria

Maisha Meds Hits 1,000 Active Facilities, Expands to Nigeria

Kenyan-based digital pharmacy network, Maisha Meds, has reached 1,000 active facilities, making it one of the largest digital pharmacy networks in Sub-Saharan Africa. Founded in 2017 with operations across Kenya, Uganda, Tanzania, Zambia and more recently Nigeria, Maisha Meds provides a business management software and reimbursement programs for pharmacies,

Egypt's Appetito Acquires Lamma, Becomes Africa's Largest E-Commerce Platform by Market Size

Egypt's Appetito Acquires Lamma, Becomes Africa's Largest E-Commerce Platform by Market Size

Appetito, Egypt’s Quick-Commerce platform that delivers groceries and household products to customers from 11 dark stores in three Egyptian cities, is acquiring Lamma, another Q-Commerce platform that operates in the Maghreb regions of Tunisia and Morocco, for an undisclosed sum in a deal that is expected to close by

SA's Leading Calling App, Talk360 Secures $4M Seed Round to Expand Across Africa

SA's Leading Calling App, Talk360 Secures $4M Seed Round to Expand Across Africa

Talk360, a leading Voice over Internet Protocol (VoIP) player in Africa, which enables people to make international calls through its app for a fee, has secured $4 million in a HAVAÍC-led seed funding round. Some angel investors like Gaston Aussems (ex-Mollie), Robert Kraal (ex-Adyen), Gabriel de Montessuss (President WorldPay International)

AIMS Ghana Collaborates with Google to Strengthen Research in Africa

Artificial Intelligence

AIMS Ghana Collaborates with Google to Strengthen Research in Africa

The African Institute of Mathematical Sciences – Ghana (AIMS Ghana) and Google Research have signed a Masters Sponsored Research Agreement (MSRA) to push the boundaries of scientific research in areas of specialty such as artificial intelligence. The agreement will strengthen AIMS and Google’s existing partnership as part of their continued

2 months after going public, SWVL lays off 32% of its workforce

2 months after going public, SWVL lays off 32% of its workforce

Egypt born but Dubai based mobility startup SWVL has announced plans to reduce its workforce by 32 percent. The company said the process is part of a portfolio optimization program that will enhance efficiency and reduce central costs to accelerate its path to profitability to turn cash flow positive in

SA’s fintech startup, Finclusion Group secures undisclosed funding from Egypt’s CASF

Cairo Angels Syndicate Fund

SA’s fintech startup, Finclusion Group secures undisclosed funding from Egypt’s CASF

South African-based fintech startup, Finclusion Group has today secured an undisclosed amount of funding from the Egypt-based micro VC fund, the Cairo Angels Syndicate Fund (CASF) for further expansion. Timothy Guy co-founded Finclusion Group with his co-founder and co-CEO Tonderai Mutesva in 2019 as an African-focused fintech platform building out

What Should Africans Expect from Starlink?

What Should Africans Expect from Starlink?

In view of the global digitization dominance, internet access should not be considered a luxury anymore. Digital inclusion is a key enabler of efficient financial inclusion and effective e-commerce services. Mobile technology has advanced rapidly in Sub-Saharan Africa, but internet access has not. Internet penetration in Africa is 18%, which