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Pastel, a Nigerian bookkeeping and digital platform for merchants, raises $5.5M led by TLcom

There’s no end to digitizing the operations of small and medium businesses (SMBs) in the traditional retail sector across sub-Saharan Africa. In...

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Kenyan B2B e-commerce platform Marketforce cut about 9% of staff in reorganization strategy

Marketforce laid off 54 people last month, so about 9% of its overall workforce, mainly from field sales, supply chain and customer experience...

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Bluechip, an African systems integrator with partners like Microsoft and Oracle, is expanding to Europe

It’s not often you hear about African tech companies expanding into Europe. Some examples include fintechs Lidya and Korapay in Eastern Europe...

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Beacon Power Services raises $2.7M to improve electricity access for sub-Saharan African cities

Beacon Power Services provides data and grid management solutions to help Africa’s power sector distribute electricity more efficiently.

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Identity verification company Youverify extends seed funding to $2.5M as it expands across Africa

Youverify, an identity verification company helping African banks and startups, is announcing that it has secured a $1 million seed round extension.

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Oui Capital, a pan-African early-stage VC firm, hits first close of its $30M second fund

Oui Capital, an Africa-focused VC firm based in Lagos and Massachusetts, announced today that it has completed the first closing of its $30 million...

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US-based fintech Umba buys majority stake in Kenya’s Daraja microfinance bank

The acquisition gives Umba access to existing financial services clientele, and permits them to offer additional banking services.

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Techstars CEO Maëlle Gavet outlines the accelerator’s newest program in Africa

The Nigerian tech ecosystem has grown tremendously in the past five years, with venture capital reaching over $1.8 billion in 2021

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SendSprint, by ex-Flutterwave executive, hits market with $5 flat fee for all international money transfers

The fintech will in the first 18 months target 300,000 of the 1.7 million Africans in the UK, and grow from there to the US and Canada.

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As the global venture capital market slows, Africa charts its own course

Experts say that most recent deals were finalized months before macroeconomic challenges hit the global VC landscape. This means there’s a lag in...

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Venture studio Adanian Labs fuels startup growth in Africa

The venture studio targets to help build 300 next-generation startups over the next five years.

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African healthtech startups in the supply chain segment show rapid growth, spurring a $7M investment initiative

While Africa’s health systems are still reeling from the effects of the COVID pandemic, the adoption of digital health services has been revved in...

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Nigerian at-home lab testing platform Healthtracka gets $1.5M, backed by female VCs

According to this World Health Organization (WHO) article on treating cancer, detecting symptomatic patients as early as possible gives them the best...

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Black Gen Z VCs are here and swinging for the fences

Black Gen Zers are already starting their paths toward becoming top industry leaders — and creating opportunities to help sustain their success.

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Nigeria’s internet regulator releases draft to regulate Twitter, Facebook, TikTok and others

Nigeria has announced plans to regulate internet companies like Twitter, Facebook, WhatsApp, Instagram (all owned by Meta), Google and TikTok in a...

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Nigerian startup Klasha gets an additional $2.1M for its cross-border commerce play

Klasha is tapping into Africa’s cross-border space in a vast e-commerce market worth over $25 billion.

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Nigeria’s Indicina raises $3M to help businesses offer credit to their customers at scale

For years, Africa’s credit infrastructure has lagged behind the rest of the world due to low credit coverage from its bureaus. Per a World Bank...

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Betastore gets $2.5M to solve stock-outs, financing challenges for informal retailers in West and Central Africa

Betastore eyes Ghana, the DRC and Cameroon markets after raising $2.5 million in pre-series A funding from 500 Global, VestedWorld, and Loyal VC.

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Elon Musk says Starlink has been approved in Nigeria and Mozambique

Starlink brings needed competition to Nigeria's telecom operators, who have had to compete against each other without necessarily improving...

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Namibian B2B e-commerce retail platform JABU raises $15M led by Tiger Global

More venture capital keeps trooping into Africa’s B2B e-commerce retail, a space where startups are digitizing informal trade to get thousands of...

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Uber hits 1 billion rides in Africa

Uber, today, announced a significant milestone — it has completed 1 billion rides across all its markets in Africa. This feat translates to over 10...

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South Africa’s edtech FoondaMate eyes speedy takeoff after $2M funding

Educators also use FoondaMate to share learning materials with students, and to set and post homework.

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IROKO co-founder Bastian Gotter raises $3.2M seed for new venture, Bamba

In 2010, Bastian Gotter invested up to $200,000 into IROKOtv, an African video-on-demand company Jason Njoku, his friend and co-founder, launched in...

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The e-commerce boom is still afoot in Africa, Jumia’s earnings indicate

Jumia, the pan-African e-commerce company and sole tech company based on the continent listed on the NYSE, released its first-quarter financial...

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CarePoint raises $10M to spread healthcare tech across Africa

CarePoint (formerly known as Africa Health Holdings) is setting up telemedicine centers and building “micro-tech-enabled-clinics” targeting the...

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Nigeria’s Topship raises $2.5M from Flexport and YC to help merchants with international shipping

African merchants encounter many challenges when it comes to international shipping ranging from logistics and customs to hidden and excessive...

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TopUp Mama looking to solve sourcing challenges for restaurants

Stock-outs, unpredictable prices of farm produce and a lack of working capital are among the challenges that plague small restaurants and food...

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Interswitch receives $110M investment from LeapFrog and Tana Africa Capital

African payments company Interswitch has secured a $110 million joint investment from LeapFrog Investments and Tana Africa Capital to scale its...

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