Author: Ken Mutuku

• African tech startup funding received $3 billion in 2022, highlighting the growing significance of the industry among potential financiers.
• Africa’s share of global blockchain funding, however, remains modest, increasing from 0.3 percent to 1.8 percent between 2021 and 2022.
• Seychelles’ gained $208 million for six deals while and South Africa earned $176.6 million from the same number of blockchain deals.

Blockchain startups in Seychelles and South Africa received nearly all the fresh funding raised in the segment in 2022. A new report shows blockchain startups from the two countries shared 81 percent of the $474 million fresh funding realized last year.

According to the African Blockchain Report 2022 by venture capital firm VC VC, startups in this segment are well within the fourth Industrial Revolution and are projected to play a huge role in Africa’s tech industry.

In 2022, Africa’s tech industry grew significantly as more investors poured millions of …

• In 2018, fintech Flutterwave received a series A funding of $20 million, setting its pace ahead of most of its competition.
• In 2022, Kenya’s tech Industry accumulated $574.8 million in funding, showcasing its tech startups’ potential.
•  Mr Oluwabankole Falade claimed that Fluttwerwave recognizes Kenya’s invaluable role in East Africa.

Nigerian fintech company Flutterwave has picked Kenya as its hub as the firm seeks to grow its presence across East Africa. This announcement signal’s Kenya’s growing significance in Africa’s digital transformation and competitiveness in business.

Olubenga Agboola, CEO of Flutterwave, said the organization is propelling financial inclusion in the country. Started in 2010, Flutterwave facilitates cross-border payment transactions of both small and large African businesses.

Flutterwave is among the few organizations to tap into Africa’s rising virtual economic community; the Web3 Community. One of its main selling points is its ability to integrate blockchain technology and use it to drive financial …

• In rebuilding back better post-pandemic, governments, investors, and policymakers must harness one of Africa’s greatest resources: youthful human capital.
• Africa’s human capital is the engine behind the high rate of entrepreneurship cited at 22 percent of Africa’s roughly 1.4 billion population.
• To reap maximum dividends, the governments in Africa must however roll out robust healthcare systems to guarantee optimal productivity of the workforce.

Africa’s journey to economic development has seen various countries achieving certain milestones previously thought impossible for nations caught up in a number of growth-limiting challenges. The continent has made significant strides in its agricultural economy, leading to the development of various innovations such as Kenya’s mobile cash transfer service M-PESA and novel agri-based technologies.

Data transformation has also steadily grown in countries such as Kenya, which fintech firm Fluttterwave has recognized as an East Africa’s hub. Even with these trailblazing tech breakthroughs, human capital remains the continent’s …

• • Initially, fintech ImaliPay had roughly 15 partners including powerful gig platforms Glovo, SWVL, Bolt and Gokada. 
  • At the moment, the firm has over 4,500 vendor points, accounting for over 200,000 transactions monthly.
  • London-based Centropy PR is an independent PR agency specializing in tech, financial services, healthcare, and the property sector.

ImaliPay, an African fintech services provider has tapped Centropy PR, a London-based agency, to pioneer its international communications as the firm engages the gas pedal to go global. The move comes after the fintech company recently secured $3 million in funding to power its business operations.

In 2020, Tatenda Furusa and Oluwasanmi Akinmusire, former senior executives at the African digital payment firm Cellutant projected the rise of fintech industry after noticing limits of traditional financial systems.

“The first time I noticed a problem with our current financial service was during a personal experience. Once, a Bolt driver ran out …

• The concept of storing, receiving, and sending money despite geographic area paved the way for decentralized currencies
• Mobile money’s remarkable success and high adaptability rate is a core secret behind Africa’s immense mobile industry
• Various governments, such as Nigeria, have taken advantage of its rapid smartphone adoption and implemented a digital National ID system

Various companies’ and organizations’ innovations and struggles have paved the way for Africa’s digitalization. Today, Africa is renowned for its technological prowess and high rate of local talent who have showcased their technical prowess.

Many individuals need to realize that one key attribute that has led to the rapid growth of Africa’s digital economy is its Mobile Industry. The innovations of the smartphone have birthed plenty of new jobs today, benefit not only itself but other industries as well.

Here is a deep dive into one of the fastest-growing industries within the continents’ ecosystem; the Mobile …

• An increasing number of investors across the globe are angling for a pie of Africa’s $1 trillion hydrogen supply potential.
• By 2050, analysts project that green hydrogen could increase the GDP of six African countries including Egypt, Namibia, Mauritania, Morocco, and South Africa by $126 billion.
• In 2021, the government of Namibia announced the rollout of a green hydrogen project worth an estimated $9.4 billion.

Africa has experienced several energy transitions throughout the past few decades, from coal-powered energy to the massive adoption of electricity that still powers many industries today.

But as the continent enters a new age of renewable energy, Africa’s steady adoption of green hydrogen, a new offering in renewable energy mix has the potential to accelerate the continent’s move into energy independence.

Currently, Africa’s hydrogen supply is estimated at $1 trillion industry and an increasing number of organizations have flooded the market, trying to gain a …

• The new East Africa electric railway line seeks to tap into the $3 trillion market opportunity under the Africa free trade agreement.
• Tanzania first signed a $2.2 billion deal with China in December last year to revive its railway network.
• In Kenya, the Mombasa to Malaba SGR cost a total of $4.85 billion funded by China Exim Bank loan.

Tanzania and Burundi have entered into an agreement to build a cross-border electric railway line that will connect the two countries passing through the neighboring Democratic Republic of Congo, a critical investment that is set to revamp business in East Africa and beyond.

Both countries have submitted a proposal for the design and construction of the 282-kilometres of electrified railway starting from Uvinza in Tanzania to Gitega in Burundi and connecting both countries through the DRC.

Once complete, the new transport corridor, which will be the continent’s second cross-border …

• Africa’s aviation industry lost a whopping $9 billion between 2019 and 2020.
• The Covid-19 pandemic shook the industry to the core, removing chronically inefficient but large commercial airline businesses from circulation in some countries.
• According to the World Travel and Tourism Council, the rate of commercial air transport increased by at least 23 percent in 2022 and is expected to jump by 9.5 percent this year. 

At the height of the Covid-19 pandemic, a number of African economies saw their airlines fly into near collapse even as others reduced their dependence on it to power certain segments of their economies. In many countries, policymakers picked up hard lessons on how some economies heavily relied on the aviation industry to source income for other sectors such as tourism.

Africa’s aviation industry experienced phenomenal passengers and freight traffic growth of between 45 percent and 80 percent from 2010-2015, giving a ray of …

• A2X will mark the fourth exchange that Shoprite Group shares will be available to investors.
• A2X market has partnered with Aqui Exchange, providing it with a licensing matching engine, surveillance and clearing technology.
• The Namibian Stock Exchange (NSX) and Lusaka Securities Exchange (LUSE) have also listed Shoprite Group as an instrument in their respective countries.

Shoprite Group, South Africa’s largest retailer, has been approved for a secondary listing on A2X Markets, an upcoming stock exchange market. The retailer’s shares will be available for trade on A2X from April 11, 2023.

On April 4th, A2X Market announced that Shoprite Group had met the criteria for appearing under its secondary listing. This sudden turn of events is not unexpected, as South Africa’s largest retailer has had a series of wins over the past years. 

A2X will mark the fourth exchange that Shoprite Group shares will be available to investors after Johannesburg Stock …

• The Kenyan carrier reported a $29 million net loss in 2022.
• Kenya Airways defaulted on its repayment obligation of $841.6 million loan from the US Export-Import Bank in 2017.
• KQ chairman Michael Joseph claimed there are no plans to offload its shares to Delta Airlines.

The initial plan by the Kenyan government to form an airline partnership with Delta Airlines has gone off the radar as KQ Airlines sets its sights on working out a partnership with South Africa Airways.

This sudden change of direction comes days after the Kenyan Flag carrier reported a $29 million net loss in 2022. According to KQ, partnerships with regional carriers would sustain its current operations long-term while discarding those that appear unnecessary.

Kenya Airways Initial plans for Delta Airways

A drastic change has arrived with Kenya’s new government, President William Ruto who has indicated that the government is not keen on bailing out …