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- The Top 5 African Startups to Watch in 2024
Tech & Business
Africa has today emerged as a fertile ground for groundbreaking startups. As 2024 approaches, the continent’s startup scene is buzzing with activity, marked by impressive funding rounds and strategic expansions. This trend is a fleeting moment and a testament to African entrepreneurship’s resilient and dynamic spirit.
The Exchange Africa spotlights five startups thriving and redefining the business landscape in their respective sectors. From renewable energy solutions in the Democratic Republic of Congo to digital health platforms in Kenya, these companies embody the ingenuity and potential of Africa’s business ecosystem. They attract significant investment and are poised to substantially impact their communities.…
In the heart of Africa, a digital revolution is underway. As the continent stands on the cusp of an unprecedented digital transformation, a new currency is emerging, not in the form of coins or notes but in the unique digital footprints of its people. Digital identities, once an abstract concept, are now becoming the gold standard for Africans, especially in the professional realm.…
- Orange’s Max it is a “super-app” designed to be a portal for mobile services that simplifies the digital experience and eases the achievement of daily activities.
- The super app is set to debut in five countries Cameroon, Senegal, Mali, Burkina Faso, and Botswana across Africa. By 2025, Orange projects to have 45 million active users.
- The app brings together account functionalities, Orange Money, and an e-commerce platform offering digital content.
Following the steady uptake of My Orange and Orange Money applications, which are used by more than 22 million customers on a daily basis, French telecommunications giant Orange is introducing its super-app: Max it.
According to the telco, Max it is an innovative application that seamlessly integrates telecommunications, financial services, and e-commerce to address all the daily requirements of its users.
Developed by the Orange teams in Africa with the African customer in mind, Max it, is set to …
- In February, reports claimed Ghanaian fintech Dash was providing false metrics on its user base and transaction volume.
- An audit showcased a significant shortfall of at least $25 million in the company’s accounts.
- Dash Fintech’s high operating expenses and monthly burn rate of $500,000 significantly contributed to its rapid fall from glory.
Africa’s fintech industry is among the fastest, and most lucrative economic activities. According to the African Development Bank, the industry will surpass its $3 billion mark in 2022. Despite its significant growth, the industry has struggled to maintain its progressive rate. The steady increase of the cross-border payment platform has flooded the franchise, ultimately, creating a negative effect on the industry. In recent news, Dash fintech, a Ghanaian fintech, shut down after raiding over $86.1 million in five years.
Unfortunately, this has been a rising trend in the industry. If not addressed, Africa’s fintech industry may fall behind …
- In Africa, American Tower cut the emissions intensity per tower by 21% compared to their 2019 baseline due to rising use of solar.
- American Tower has invested over $350 million in energy reduction initiatives in Africa since 2018.
- Founded in 1995, American Tower is one of the largest, publicly held global real estate investment trusts.
The American Tower Corporation, a big player in Real Estate Investment Trusts (REITs), reduced its direct greenhouse gas emissions (scope 1) by 11 per cent last year, mainly by using more solar energy.
In Africa, the corporation cut the emissions intensity per tower by 21 per cent compared to their 2019 levels, attributable to increased deployment of on-site solar power.
The company’s 2022 Sustainability report notes that the number of hours various sites used solar energy has nearly doubled since 2019.
“Providing power as a service in India and Africa represents 41 per cent and …
The Fourth Industrial Revolution has significantly overhauled several markets within the continent. Africa’s media industry has gained much recognition among this long list of lucrative opportunities. Today, many African-based media and telecom companies have propelled the culture and talent of young actors. In recent news, Mauritius Telecom and Africa’s leading entertainment platform, MultiChoice, have officially partnered with Dstv Stream. Their recent collaboration aims to significantly expand Africa’s media industry within the shore of Mauritius. In addition, it will also open more employment opportunities to the country’s talented youths.…
- Terragon Group plans to build Africa’s largest and unique data-powered marketing cloud ecosystem.
- Microsoft has become a vital player in Africa’s digital transformation through several programs, partnerships, and projects.
- Organizations such as Flutterwave, Yellow Card, and Luno inspire innovators to try new approaches to the industry.
In a move to harness the potential of the fourth industrial revolution, numerous African nations have initiated measures to embrace and incorporate new technologies into their economic landscapes.
Within this dynamic shift, Africa’s cloud ecosystem has undergone a substantial transformation in its journey towards digitalization. As African businesses increasingly migrate to digital platforms, the need for secure data storage solutions has become paramount.
In recent developments, Terragon Group, a data and marketing company at the forefront of Africa’s digital transformation, has forged a strategic alliance with Microsoft. This collaboration marks a significant milestone, as it enables Terragon Group to expand its service offerings across …
Amid Africa’s digital transformation, several sectors have pioneered and dominated this move. The continent’s digital money adoption has become one of its most highlighted features since 2002. From Mpesa to Luno and Flutterwave, the era of new payment services has overhauled the continent’s progress. In recent developments, Stitch fintech, a South African payment service, secures $25 million Series A extension funding led by Ribbit Capital.…
- The South African payment platform has raised $5.2 million in seed funding.
- Revio fintech has focused its efforts on providing real-time action via different channels like SMS, Email, or Social media.
- With the $5.2 million, Revio fintech intends to expand its services to over 25 African markets.
Africa’s fintech industry is among the fastest and youngest franchises that emerged in the past decade. Its lucrative market has attracted numerous investors and innovators, each trying to gain a piece of this trillion-dollar market. In the latest development, the South African Payment platform, Revio fintech, secured a $5.2 million seed funding from QED Investors and Partech Africa. With this funding, SA’s road to dominate Africa’s digital industry is shaping up quite nicely.
Africa’s fintech industry is one of the most recent economic activities, barely two decades old. Blockchain technology, one of the primary highlights of the 4IR, has redefined how we approach …