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…

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 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…

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…

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…

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…

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…

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.…

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…

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.…