Tanzania
Uber, Bolt drivers hope for increased earnings foiled as Tanzania reinstates 25% commission
Barely a year after Tanzania capped the commissions that e-hailing firms like Uber and Bolt charge their partners at 15%, the authority in charge has backtracked on the order, taking…
Tanzania’s YC alum Ramani raises $32M to digitize CPG supply chains, lend resellers
Ramani, a Tanzanian startup focused on consumer-packaged goods (CPG) supply chains, plans to introduce new financial services as it expands its operations in the East African country after raising $32…
Kenyan agtech iProcure raises $10.2M to grow its input supply network
The shortage of agricultural inputs like fertilizer, unpredictable prices and the proliferation of substandard products into markets are some of the biggest challenges for Kenya’s agricultural sector. This impact is…
Kenyan B2B e-commerce platform Marketforce cut about 9% of staff in reorganization strategy
Kenyan retail B2B and end-to-end distribution platform Marketforce laid off a chunk of its workforce in July, according to sources familiar with the matter. In an email sent from Marketforce…
Universal Music Group signs licensing deal with African streaming service Mdundo
The music catalog of the Universal Music Group (UMG), the world’s largest record company, will be available to users of Africa-focused streaming service Mdundo following the signing of a licensing…
Featured Article
Venture studio Adanian Labs fuels startup growth in Africa
In February 2020, as the world was shutting down, and as businesses downsized on account of the COVID pandemic, John Kamara was busy establishing another new startup, Adanian Labs, in Nairobi, Kenya’s capital. It had taken him two years to finally make this dream a reality, and nothing — not even the pandemic — was…
Uber today announced a significant milestone — it has completed 1 billion rides across all its markets in Africa. This feat translates to over 10 billion kilometres in terms…
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 charges. Digital freight forwarders on the continent have grown to…
Masa Finance gets $3.5M pre-seed to build its decentralized credit protocol
Masa Finance, a hybrid credit protocol and decentralized credit bureau founded by Pngme CEO Brendan Playford in late 2020, has raised $3.5 million in pre-seed funding. According to a statement,…
Norebase raises $1M to allow companies start, scale, and operate in any African country
Startup pitches with promises to provide various services to Africans — across different sectors — are commonplace now. And in trying to sweet-talk investors, what’s not taken into context or…
Sun King raises $260M to widen clean energy access in Africa, Asia
One of the largest solar companies in Africa and Asia, Sun King, has raised $260 million in series D funding to deliver off-grid energy technologies to more people across the…
Bolt’s future in Tanzania uncertain after 15% service fee order
The future of Bolt, the Estonia-based ride-hailing company, in Tanzania is hanging in the balance following a new 15% service fee order that went into effect Friday last week. Bolt,…
Daily Crunch: Elon Musk sets sights on Twitter with unsolicited $43B takeover bid
Hello friends and welcome to Daily Crunch, bringing you the most important startup, tech and venture capital news in a single package.
Uber cites tough regulations as it suspends Tanzania operations
Uber suspended its operations in Tanzania today, citing a tough regulatory environment that has made it difficult for the ride-hailing company to continue running in the East African country. In…
UK fintech startup Leatherback raises $10M for its cross-border payments led by ZedCrest
Immigrants, international students, and the migrant population in general all require international payments, or foreign exchange. Revolut and Wise are among those platforms to have taken advantage of this international…
Sokowatch rebrands to Wasoko as it raises $125M Series B from Tiger Global and Avenir
Informal retail is king in Africa, with hundreds of billions of dollars of consumer goods sold through its channels yearly. Yet its industry remains highly fragmented as shop owners and…
Sudan’s first YC-backed startup is helping consumers protect and grow their wealth
Anglophone East Africa is home to over 400 million people, with half under 25. The region happens to be one of the fastest-growing globally; nevertheless, over 200 million people in…
Ghanaian fintech Dash raises $32.8M seed to build connected wallets for Africans
Global financial transactions are facilitated mainly by payment processors such as Visa or Mastercard. They are responsible for communication between banks and fintechs to settle transactions for consumers and businesses…
Stax gets $2.2M for its app that lets Africans make transactions via automated USSD codes
Stax, a startup that allows Africans to buy airtime, send and request money, and transfer funds between accounts via automated USSD codes, has raised a $2.2 million seed extension round.…
M-KOPA raises $75M as it clocks 2 million customers across four African markets
A 2019 World Bank report says 85% of Africans live on less than $5.50 per day. A large percentage of these adults are unbanked and underbanked; thus, they don’t have…
Ten game development studios in Africa have come together under one umbrella, the Pan Africa Gaming Group (PAGG), in an effort to unify the continent’s gaming sector, which is currently…
Mdundo eyes more telco partnerships after music streaming revenue growth from Tanzania, Nigeria deals
Mdundo, an Africa-focused music streaming service, is banking on more partnerships with telcos across the continent to grow its earnings and user base. Last year, the company signed deals with…
Kenyan tech-enabled logistics platform Amitruck raises $4 million, embarks on Uganda, Tanzania expansion
The shipping business in Africa has for years been inefficient and costly due to the traditional ways of managing operations — traditional in the sense that a shipper has to…
Tanzanian fintech NALA raises $10M seed to build Revolut for Africa
NALA, a Tanzanian cross-border payments company that recently pivoted from local to international money transfers, said Thursday it has raised $10 million in a new fundraising round. The seed round…
Clean energy firm Husk signs UN energy compact as it begins solar mini-grid expansion in Nigeria, rest of Africa
Husk Power Systems, a clean energy company that has been at the forefront of fueling rural electrification since 2008, is planning to launch 500 solar mini-grids in Nigeria over the…
Finclusion raises $20M to build out credit-led neobank offering across Africa
The digital banking space in Africa is taking shape as neobanks on the continent grow in numbers like their global counterparts. Venture capital bets from institutional investors in this class…
Kenyan startup Wowzi secures $3.2 million from 4DX Ventures, Andela co-founder to expand across Africa
Kenyan startup Wowzi has secured new funding to expand the reach of its platform, which turns social media users into brand influencers, to West and Southern Africa — as it…
MarketForce partners with Cellulant to expand in five new markets across Africa as it races to cover continent
MarketForce, a Kenyan B2B retail and financial services distribution startup, has expanded into five additional markets across Africa to grow RejaReja — its retailer “super app” that makes it possible…
World Mobile Group bringing Zanzibaris online through mobile network built on blockchain
As the world quickly transitions into a global village thanks to the rapid penetration of internet networks, it is easy for some people to be left behind owing to the…
Kenya’s Twiga raises $50M to scale food solutions across Africa
Years ago, Americans spent most of their disposable income on food, but consistent investment in retail infrastructure has changed that. Now, they only spend 6% of their household income on…
