Africa

Supply chain and e-commerce enablement startup Omniful has today emerged from stealth with $5.85 million seed funding led by VentureSouq, with participation from 500 Global, DASH Ventures, Jahez Group

Egyptian online auto parts marketplace Mtor has raised $2.8 million in pre-seed investment led by Egypt-focused venture capital firm Algebra Ventures. Other investors that participated in the round in

Amini, a Kenya-based climate-tech startup bridging the environmental data gap in Africa, has raised $4 million in a seed funding round led by Salesforce Ventures and the Female Founders Fund. Climate-

Saviu Ventures, a VC firm targeting startups in Francophone Africa, has made an initial close of €12 million for its second fund with the backing of private investors, including French and Kenyan fa

In the dynamic landscape of African international trade, a prevalent challenge looms large: A mere 30% of trade volumes find financial intermediaries in banks. This glaring gap in financing disproport

Cameroonian health startup Waspito has secured a $2.5 million seed extension from DP World through Newtown Partners, Saviu Ventures, AAIC Investment, Axian Ventures and CFAO’s Health54 to spur its g

African payments company Paystack has reduced its operations outside of Africa, trimming its workforce in Europe and Dubai. This decision comes as part of a streamlining effort, particularly in market

InDrive, the “bid-based” ride-hail platform popular in Latin America and Asia, has launched a new venture and merger and acquisition division named New Ventures to invest up to $100 millio

In Q3 2023, Jumia reported an adjusted EBITDA loss of $15 million, marking the lowest since its IPO in 2019 (outperforming the $27 million recorded in Q1 and $19.3 million in Q2) and a substantial dec

The World Economic Forum states that Africa has an average annual demand for 2.4 million cars and 300,000 commercial vehicles. This demand is increasing because of a continent-wide increase in disposa

African fintech Flutterwave is off the hook in Kenya after the high court allowed the country’s Asset Recovery Agency (ARA), an agency that investigates and recovers proceeds of crime, to withdraw t

Meta is facing growing calls to set up a restitution fund for victims of the Tigray War, which Facebook is alleged to have fueled leading to over 600,000 deaths and the displacement of millions across

SBI Holdings, a Japanese financial services conglomerate and one of the largest venture capital firms in the East Asian country, has made a $40 million multifund commitment to anchor Pan-African VC fi

Obesity and prediabetes are major health concerns in Africa and the Middle East, affecting more than 40% of the population. In Egypt, 20% of adults have diabetes; the figure in Saudi Arabia is 30%. In

Kenyan B2B e-commerce company MarketForce has shut down operations in three of its five markets in Africa and is in the early stages of launching a social commerce spinout. TechCrunch has learned that

African startup funding has seen a significant decline of more than 50% over the past three quarters compared to the previous year, as reported by The Big Deal. To date, startups on the continent have

The social commerce market size in Africa is expected to continue growing as businesses and micro-entrepreneurs embrace digital media, driven by the rising usage of apps like WhatsApp, TikTok and Inst

It’s been a tough year for tech startups globally. These struggles have manifested in layoffs, down rounds and complete shutdowns caused by current market conditions, utter mismanagement or fraud.

Husk Power Systems, a clean energy company at the forefront of fueling rural electrification since 2008 and that announced plans to launch 500 solar mini-grids in Nigeria over the next five years, has