Fintech · South Africa · Analysis
Nedbank’s $93 million iKhokha deal signals a shift from fintech partnerships to ownership
An analysis of Nedbank’s iKhokha acquisition and its implications for South Africa’s SME payments market.
StartupNews Africa
The archive
News on the companies, capital and people shaping African technology, in publication order.
Showing 1–20 of 159 articles
Funding · Africa
Sabou Capital plans investments in 25 African SMEs
Surrayah Ahmed’s Sabou Capital targets technology-enabled small and medium enterprises across Africa.
Fintech · South Africa
South Africa’s NjiaPay raises $1.3 million to expand payments services
The South African company raised pre-seed funding to build an integrated payments service.
Companies · Kenya · Retrospective
How Gro Intelligence shut down amid financial headwinds
Gro Intelligence’s funding challenges and the events leading to its closure.
Energy & mobility · Ghana · Profile
Inside Kofa’s battery-swapping network in Ghana
A look at the Ghanaian company’s portable batteries and swap-station network.
Energy & mobility · Kenya · Profile
The journey of Mark Mwangi’s Amitruck on rough terrain
A profile of the logistics marketplace and its approach to freight transport in Kenya.
Companies · Nigeria
How Jumia and Jiji responded to Temu’s arrival in Nigeria
The established marketplaces respond to Temu’s discount-led strategy in Nigeria.
Energy & mobility · Kenya
Kenya’s Mobius Motors acquired by Silver Box in rescue deal
Silver Box acquires the Kenyan automaker following its financial crisis.
Energy & mobility · Africa
CrossBoundary Energy raises $45 million for renewable energy projects across Africa
The clean-power company secured financing from EAAIF for commercial and industrial renewable energy projects.
Fintech · Morocco · Promoted content
ORA Technologies raises $1.9 million for payments and e-commerce
Moroccan investors back the company’s digital wallet and e-commerce expansion.
Funding
Kenya’s Badili Raises $400,000 In Funding To Tackle E-waste
Badili sources for used devices from developed markets, takes them through a thorough refurbishment process, then offers them for sale in Kenya at reduced prices.
Funding
LoftyInc Capital Lands $43 Million To Help African Startups Navigate Series A Funding Gaps
Coming off the back of this success, LoftyInc launched a second funding round in 2021, with $10 million set as a target. However, it was able to raise $14.2 million, with which it broadened its geographical scope beyond Nigerian borders, spreading to South Africa, Francophone Africa, and Egypt.
Companies · Egypt
Egypt’s Widebot raises $3 million in Saudi-backed funding
The Egyptian startup raised funding to develop Arabic-language AI.
Funding · Promoted content
Khula Investors Receive Boost as Startup Lands $6.7 Million Series A For African Farm Platform
Since its seed funding round in 2023, Khula’s valuation has reportedly increased tenfold, reflecting investor optimism in its growth trajectory.
Funding
Finnfund Intensifies Support For South Africa’s Fibertime With €2 Million Follow-on Funding
As it comes off the heels of an initial €2 million investment in 2023, this second tranche of funding will enable Fibertime to spread its tentacles beyond the wealthy suburbs normally served by fibre providers.
FinTech
Egypt’s Fawry Sees Profit Skyrocket By 124%, New Ventures Drive Growth
Like the biblical Goshen, Fawry has remained untouched by Egypt’s economic crisis that saw the nation’s currency devaluate by 40%. It has even thrived in the process.
M&A
Motorola Solutions Acquires RapidDeploy, Aims To Expand Its Portfolio In The Critical Emergency Response
For Motorola Solutions, the addition of RapidDeploy’s cloud-native expertise strengthens its hand in this evolving landscape and reinforces its commitment to providing comprehensive public safety solutions.
Funding
Kholo Capital Secures $76 Million For South African SMEs
Kholo Capital will turn its searchlights on investments of about $3.8 million to $10.9 million in SMEs that have demonstrated a minimum EBITDA of R25 million ($1.4 million USD).
Funding
Silicon Badia Backs Journify With $4 Million In Strategic Venture Into Morocco
Journify has also built strategic partnerships with major digital platforms, including TikTok, Google, and Snap, further enhancing its reach and impact.
Funding
Ghana-based Oze Raises Funding From Visa and DEG, Aims To Bolster AI Lending For African SMEs
At the moment, Oze operates across eight African nations including Ghana, Nigeria, and Rwanda, partnering with commercial banks like Ecobank to extend its reach.