Events in May offered support to the thesis that Africa can incubate tech with global application. Two startups that developed their business models on the continent — MallforAfrica and Zipline —
It seems the demand for Safaricom’s M-Pesa payment product never eases. Since its 2007 launch in Kenya, the fintech app has commanded over 70% of the mobile money market in that country. When CO
In March, the virus gripping the world — COVID-19 — started to spread in Africa. In short order, actors across the continent’s tech ecosystem began to step up to stem the spread. Early in Ma
VC firm TLcom Capital closed its Tide Africa Fund at $71 million in February, and announced plans to invest in 12 startups over the next 18 months. The group — with offices in London, Lagos and Nair
The first month of the new year saw Africa enter the fray of U.S. politics. The Trump administration announced last week it would halt immigration from Nigeria — Africa’s most populous nation with
2019 brought more global attention to Africa’s tech scene than perhaps any previous year. A high-profile IPO, visits by both Jacks (Ma and Dorsey) and big Chinese startup investment energized th
November 2019 could mark when Nigeria (arguably) became Africa’s unofficial capital for fintech investment and digital finance startups. The month saw $360 million invested in Nigerian-focused p
Kenya’s Twiga Foods raised a total of $30 million in October from lenders and investors led by Goldman Sachs. This adds to the list of African startups the U.S. financial firm has backed, including
Two of Africa’s powerhouse tech incubators joined forces in September. Nigerian innovation center and seed-fund CcHub acquired Nairobi based iHub. The purchase amount was undisclosed, but CcHub wil
Nigerian freight logistics startup Kobo360 raised a $20 million Series A round led by Goldman Sachs and $10 million in working capital financing from Nigerian commercial banks. The company — with
In July, French television company Canal+ acquired the ROK film studio from VOD company IROKOtv. Canal+ would not disclose the acquisition price, but confirmed there was a cash component of the deal.
Competition in Africa’s two-wheel ride-hail market is accelerating. Nigerian motorcycle transit startup MAX.ng was the latest startup to add funding, raising a $7 million funding round in June w
Jumia held its first post-IPO earnings call and weathered a short-sell assault in May, with Wall Street showing confidence in the Pan-African e-commerce company. On the numbers, key takeaways were tha
The biggest news in a month of weighty African headlines was Jumia listing on the New York Stock Exchange. After filing SEC IPO docs in March, the Pan-African e-commerce company’s shares began tradi
Less than a decade ago IPOs, acquisitions and global expansion by African startups were more possibility than reality. March saw all three from the continent’s tech scene. Pan-African e-commerce com
Kenyan communications hardware company BRCK acquired the assets of Nairobi-based internet provider Surf and its U.S. parent EveryLayer in a purchase deal of an undisclosed amount in February. Based
A high court in Zimbabwe ended the government’s restrictions on internet and social media last month.
Nigerian consumer data analytics firm Terragon Group acquired Asian mobile marketing company Bizense in a cash and stock deal. The price of the acquisition was not disclosed.
Jake Bright Contributor Share on Twitter Jake Bright is a writer, author and advisor with a focus on global business, politics, and technology. From 2017 to 2020, he was a contributing writer and advi
Jake Bright Contributor Share on Twitter Jake Bright is a writer, author and advisor with a focus on global business, politics, and technology. From 2017 to 2020, he was a contributing writer and advi
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