west africa

There’s no end to digitizing the operations of small and medium businesses (SMBs) in the traditional retail sector across sub-Saharan Africa. In Nigeria alone, this industry, worth more than $200…

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

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…

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

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

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

About 80% of household retail in sub-Saharan Africa is delivered through informal channels, which perennially face several challenges like stockouts, leading to an instability in earnings and a lack of…

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

More venture capital keeps trooping into Africa’s B2B e-commerce retail, a space where startups are digitizing informal trade to get thousands of merchants to operate more efficiently. This time, it’s…

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

  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…

Uber hits 1 billion rides in Africa

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 Lagos, Nigeria. For the next couple of years,…

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

Kenya-based agritech Apollo Agriculture, which helps farmers access high-quality farm inputs, financing and markets, plans to double the number of farmers it is serving by the end 2022 and to…

Kenya-based agritech Apollo raises $40 million in Softbank-led round, joined by Chan Zuckerberg Initiative, CDC

Google, working with historians from West Africa, has been working to digitize contemporary art, cultural and historic sites about Mali, and the digital library went live on Google Art &…

Google’s Art & Culture platform updated with documents, artifacts and music from Timbuktu

TLcom Capital, the Africa-focused venture capital firm known to have made bets on Andela and Twiga, is raising $150 million for its second fund targeted at making early- and late-stage…

TLcom Capital targets $150M for its second fund to invest in 20 African startups

OZÉ, a Ghanaian fintech startup that provides digital recordkeeping tools with embedded finance products to medium and small businesses, has raised a $3 million pre-Series A round. The startup’s new…

Ghana’s OZÉ gets $3M to scale its digital recordkeeping and embedded finance products

In 2020, Africa50, an infrastructure financier backed by the Africa Development Bank (AfDB) Group and a good number of African governments, hosted an innovation challenge that sought affordable and reliable…

Kenyan low-cost ISP Poa Internet secures $28 million in round led by AfDB-backed Africa50, plans to link region with cheap, limit-free connectivity

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…

Finclusion raises $20M to build out credit-led neobank offering across Africa

Africa’s mobile-money sector remains the most active of any region in the world, according to GSM Association (GSMA), an umbrella body representing the interests of players in the telecommunications industry.…

MTN Uganda introduces overdraft facility as it steps up competition in digital lending space

Internet giant Google announced today that it has made the first investment from its Africa Investment Fund in Ugandan super app SafeBoda. The undisclosed investment comes two months after Alphabet…

Google’s Africa Investment Fund makes first investment in Uganda’s SafeBoda

The African tech scene woke up today to exciting news about the landmark acquisition of MainOne, one of the region’s most important and pivotal tech companies in the past decade,…

MainOne CEO Funke Opeke says Equinix is buying her company for the right price

Equinix announced today that it is acquiring MainOne, a West African data center and connectivity solutions provider with a presence in Nigeria, Ghana and the Ivory Coast, for $320 million.…

Equinix is acquiring Nigeria’s MainOne for $320M as it expands into Africa

Featured Article

Faster deals, less diligence: The African startup market mirrors its larger rivals

Given that VCs are putting more money to work in Africa this year as the quarters tick along, it’s reasonable to anticipate that 2022 could bring even greater total venture investment.

7:11 am PST • November 12, 2021
Faster deals, less diligence: The African startup market mirrors its larger rivals

African automotive company Autochek has secured a $13.1 million seed round almost a year after raising $3.4 million pre-seed in November 2020. The company, led by CEO Etop Ikpe, has…

TLcom and 4DX drive $13.1M seed round to scale Autochek’s platform across Africa

  There is a lot of activity going on with social commerce in Nigeria. From Facebook-owned Instagram and WhatsApp holding the keys to the marketplace-facing side of things to fintech…

Nigeria’s Sendbox raises $1.8M to provide e-commerce fulfilment for small merchants

Julaya enables companies to streamline their accounting and improve their operational efficiency by digitizing payments to workers and suppliers instead of relying on cash.

Ivorian fintech Julaya raises $2M to digitize business payments in Francophone Africa

Microsoft has secured a court order to take down several malicious “homoglyph” domains that were used to impersonate Office 365 customers and commit fraud.  The technology giant filed a case…

Microsoft secures court order to take down malicious ‘homoglyph’ domains

On June 18, Babajide Duroshola, ex-country head, SafeBoda Nigeria, stepped down from his role two years after taking the job post-Andela. Less than a month later, the executive has found…

Ex-SafeBoda executive Babajide Duroshola joins M-KOPA to lead expansion into Nigeria

The share of exports from Africa to the rest of the world ranged from 80% to 90% between 2000 and 2017. This has created a growing demand for Africa to…

Ghana’s Jetstream lands $3M to build the digital infrastructure for Africa’s trade corridors

When Nicole Poindexter left the energy efficiency focused startup, Opower a few months after the company’s public offering, she wasn’t sure what would come next. At the time, in 2014,…

Could developing renewable energy micro-grids make Energicity Africa’s utility of the future?

African cross-border fintech startup Chipper Cash has closed a $13.8 million Series A funding round led by Deciens Capital and plans to hire 30 new staff globally. The raise caps an…

African payment startup Chipper Cash raises $13.8M Series A

African startups have another $100 million in VC to pitch for after Novastar Ventures’ latest raise. The Nairobi and Lagos-based investment group announced it has closed $108 million in new…

Novastar Ventures becomes $200M African VC fund after $108M raise

Pan-African e-commerce company Jumia and B2B agtech startup Twiga Foods are partnering to deliver produce in Kenya using adaptive measures during COVID-19. Jumia offers online goods and services verticals in…

Goldman-backed ventures Jumia and Twiga partner on produce in Kenya

Visa has entered a partnership with Nigeria based startup Paga on payments and technology. Founded in Lagos, Paga scaled its fintech business in West Africa, before targeting expansion in Ethiopia…

Visa partners with Paga on payments and fintech for Africa and abroad

Kenya based B2B e-commerce startup Sokowatch has raised $14 million in Series A funding toward its mission of revamping supply-chain markets for Africa’s informal retailers. From Nairobi, the company has…

Sokowatch raises $14M to digitize Africa’s informal B2B supply-chain