- Uganda: Pain for pensioners as new Bill withdrawn
- Moscow schools to start teaching Swahili from September
- Oil-rich Angola joins insurer ATI, pays $25 million in fees
- Severe drought in Horn of Africa pummels farmers and economies
- Africa Day: From post-independence unity to Agenda 2063
- Ghana maintains key interest rate at 29.5% to tackle inflation
- Kenya gets $544M IMF loan, secures extended repayment time
- Why the hype on the adoption of CBDCs in Africa has waned
- Analysts have termed Central Africa as a sleeping Giant, yet to awaken as the region recorded the least funding for startups in 2022.
- In 2022, Central Africa was by far the region where start-ups raised the least funding through deals worth $100,000 and over with a total of $51 million according to the latest report by The Big Deal.
- While the region represented only 1.1 percent of the funding raised on the continent, Year on Year growth was commendable, as start-ups raised more than double the amount that had been raised in 2021 ($24 million).
Analysts have termed Central Africa a sleeping giant, yet to awaken as the region recorded the least funding for startups in 2022.
Max Cuvellier from The Big Deal says there is a huge potential in the region despite the depressed numbers.
“This is not to say that there isn’t talent or potential in the DRC, …
In the latest fundraising led by B Capital Group, Flutterwave raised US$250 million, with participation from Alta Park Capital LP, Whale Rock Capital and Lux Capital.
Flutterwave said in an emailed statement on Wednesday. “The investment has enabled the company to become the highest valued African startup,” a Flutterwave email read.
Flutterwave has processed transactions worth more than US$16 million in over 50 million transactions across dozens of countries in Africa, facilitating cross-border transactions in multiple currencies for companies, including Uber Technologies Inc., Booking.com and Alibaba’s Alipay. It has evolved beyond payments products to an online marketplace and a lending channel to small and medium businesses.
With operations from the Nigerian commercial hub of Lagos to Nairobi, Kenya, the San Francisco-based company will continue to grow in East Africa. According to Flutterwave’s software engineer, the company also plans to expand its Francophone African nations such as Senegal and Cameroon.…
Rural Farmers Hub will receive financial support worth US$15,000. It is a precision management solution for crop health and soil quality assessment created for small farmers, extensive plantations, and industrial out-growers.
Rural Farmers Hub provides intelligent maps to plan precise fixation of defects in soil and crops and develop various AI algorithms for agricultural application in Africa, showing how data can significantly impact the agriculture sector.
The company works with an extension worker network of over 200 members and have since reached over 25,000 smallholder farmers. They target ten vital corporate customers and an estimated 250,000 smallholder farmers within 24 months.…
- Smartphones are now the primary gadget where most people are playing video games
- 95 per cent of the playing population are mobile gamers
- The global crypto gaming industry was valued at US$321 million in 2020.
- The number of gamers in Sub-Saharan Africa rose from 77 million in 2015 to 186 million in 2021
For the longest time, most African parents have viewed video gaming as a waste of time and resources. As a result, African gamers mainly played on consoles and computers in gaming joints and cyber cafes.
However, in the last five years, the video game market has lucratively shifted as many Africans enjoy the games and even have gaming consoles on their computers at home. The Coronavirus pandemic kept many people locked indoors, and gaming became one of the most preferred activities to kill boredom during the lockdown.
The video game market has also localised the content to …
Jenga Leo is a coworking space based in Nairobi and offers workers several benefits, including high-speed Wi-Fi and air condition. The company offers several facilities, including a Skype and podcasting room and a childcare centre. Others are a yoga studio and gym room.
The administrator said the company’s innovative concept capitalises on that trend by bringing health and work together in one accessible place.
“The name itself plays by creating ‘building blocks’ as part of an organisation’s desire, with Jenga meaning ‘build’, ‘leo’ meaning today.
Hence, the concept takes building today to create the foundation of a workplace dynamic that allows for one’s mind, body, and soul to flourish.…
- Stanbic Bank, Stanbic Kenya Foundation and the German Development Cooperation have signed a deal to help MSMEs
- The partners say the Ksh 62million project seeks to support Micro Small and Medium Enterprises (MSMEs) to respond, restore and rebound from the effects of the pandemic
Kenya’s Stanbic Bank, Stanbic Kenya Foundation and the German Development Cooperation have entered into a partnership aimed at accelerating business recovery and growth of small enterprises post the Coronavirus Disease (COVID-19) Pandemic.
In a statement, the partners say the Ksh 62million project seeks to support Micro Small and Medium Enterprises (MSMEs) to respond, restore and rebound from the effects of the pandemic.
The partnership is under the Employment and Skills for Development in Africa (E4D) Programme commissioned by the German Federal Ministry for Economic Cooperation and Development (BMZ) and implemented by GIZ and Stanbic Kenya Foundation.
The business recovery interventions under the partnership will be provided …
Business confidence for Small and Medium Enterprise (SME) across most sectors is on the rise, according to the latest research by Mastercard.
The inaugural Mastercard Middle East and Africa (MEA) SME Confidence Index found that 76 percent of SMEs in the food, beverage and entertainment sector are optimistic about the next 12 months.
Confidence levels were highest among businesses in retail, closely followed by food, beverage and entertainment.
Forecasts in this sector are also positive, with 72 percent of SMEs projecting revenues that will either grow or hold steady. Almost half 47 percent are projecting an increase.
Access to training, skills and digitization key for future growth
As many regional economies gradually enter the normalization and growth phase, and social restrictions continue to ease, small and medium sized businesses in the MEA region’s food, beverage and entertainment sector have identified access to training and development support (55 percent), upskilling staff …