Monday, September 25
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  • 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,

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The Harambeans are young entrepreneurs transforming the innovative African ecosystem.

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., 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.…

Global Index Insurance Facility (GIIF),announces the three top winners of the Africa AgTech and Inclusive Insurance Challenge 2022 in Africa.

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.…

african entrepreneurs

Covid-19 has hit small businesses hardest and around the world, many are either still struggling or they have already shut down almost two years after the pandemic started.

The pandemic has caused large-scale loss of life and severe human suffering globally and as the largest public health crisis in our time, the pandemic has also generated a major economic crisis. 2020 saw a halt in production in affected countries, a collapse in consumption and confidence, and stock exchanges responding negatively to heightened uncertainties.

In Africa, things are no different and despite the hit by the pandemic, a June 2021 African Development Bank (AfDB) White Paper, Entrepreneurship and Free Trade: Africa’s Catalysts for a New Era of Economic Prosperity, states that entrepreneurship must be at the heart of efforts to transform Africa’s economic prospects.

Read: Why Kenya’s small businesses are choking

The Covid-19 crisis has triggered shifts that open up …

Kenya’s national carrier Kenya Airways has launched a centre which it says will be used to mentor the youth.

In a statement, the company says the centre, dubbed ‘Fahari Innovation Hub’, will act as a springboard for new ideas and data-driven innovations to accelerate impact-driven solutions that address some of the societal and business challenges.

Kenya Airways Chief Executive Officer, Allan Kilavuka said the Fahari Innovation Hub has already been operating virtually for about one year.

He added that with the setting of a physical workspace, the hub will provide a centre for strategic innovation management offering opportunities for co-creation, collaboration, networking, research, and learning.

“At the pace at which change accelerates, especially now in the middle of a global pandemic, we have become increasingly aware of the need to be innovative as we position the business as a resilient, forward-looking and sustainable company with a deliberate inclusive agenda of …

Kenya’s Capital Markets Authority (CMA) has announced a new deal that will help businesses in the private sector forge their way to recovery. 

CMA has signed a Memorandum of Understanding (MoU) with the Kenya Private Sector Alliance (KEPSA) to support market deepening and leveraging capital market products to catalyze growth in the sector.

The partners say the move is line with the Big 4 Agenda and Sustainable Development Goals.

Through the MoU, CMA and KEPSA say they will be seeking avenues for private and public sector finance and investment necessary to support Kenya’s economic growth and complement development funding gaps.

The two institutions will also seek to collaborate in the development of policy and regulatory interventions to create a conducive business environment that will support a robust, resilient, and inclusive financial sector through the growth of the capital markets.

The CMA Chief Executive, Wyckliffe Shamiah said the partnership is expected …

Women-owned and led SMEs (WSMEs) in Kenya face structural barriers that limit their ability to secure contracts with large companies for growth.

This is according to an IFC study published today that recommends ways banks and large businesses can better support female entrepreneurs.

The study was commissioned as part of IFC’s wider efforts to connect women entrepreneurs to new markets and is titled Sourcing2Equal Kenya: Barriers and Approaches to Increase Access to Markets for Women-Owned Businesses.

It found that women-owned businesses face challenges accessing finance, business networks, and market information, hence limiting their ability to take on large contracts.

The study found that there is a 9 percent gender gap in the participation of SMEs supplying directly to corporate Buyers, commonly known as tier 1 suppliers, with WSMEs receiving fewer contracts among the SME respondents in this study.

However the survey indicates that there is 13 percent more WSMEs than …

In the last century, the fashionable and accepted route to success for young Africans was to complete their education and join the corporate world. A few university students aspired to become entrepreneurs; most educational institutions did not offer entrepreneurial programs. With few exceptions, African families used to guide their children to join a leading multi-national or work for a state institution, hoping they would climb the corporate ladder to become CEOs or at least senior management. That was prestigious until the paradigm shifted to tech entrepreneurship with the emergence of the computer, mobile and Internet industry in the latter part of the 20th century. Whilst a lot of African families have built successful entrepreneurial ventures in the past, this essay emphasis the growing move of corporates to tech entrepreneurship.

The likes of Dr. Nii Narku Quaynor who started Network Computer Systems (NCS) in 1988 and played a key role …


Africa's tech habitude is on the rise. Internet usage has risen significantly on the continent. On top of that, the advent of the coronavirus pandemic accelerated the prospect of growth in the digital sphere. E-commerce is one such opportunity that affords businesses access to broader market opportunities in every arena. According to McKinsey, a worldwide consulting firm, the e-commerce industry in Africa is expected to grow to a $75 billion industry by 2025.

E-commerce is growing. It is accelerated by a growing and youthful population that is increasingly exposed and has an appetite for greater efficiency and improvement of business to first-world standards. The African diaspora has also contributed to this growing demand as people have become more exposed to what is going on around the world. Technology itself dissolves existing borders and opens up trade regionally and internationally.…

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