Browsing: African startups

• Africa’s blue and green economy is projected to be the new avenue that will drive investments in Africa
• The continent, with its vast coastline and rich marine resources, is poised to harness the immense potential of Africa’s blue and green economy
• According to ADFDB, 80 per cent of global trade is maritime. Oceans also provide billions of people with food, medicine, renewable energy, and natural resources.

Three Kenyan startups are among ten selected across the continent to benefit from $550,000 (Sh70.7 million) in capital to grow their operations towards boosting Africa’s blue and green economy sectors.

Kenya produced the highest number of startups on the list (three), followed by Rwanda with two. South Africa, Madagascar, Mozambique, Nigeria, and Tanzania each produced one enterprise.

From Kenya, Samaking, Plas Tech, and Ark will each receive $55,000 (Sh7.1 million) in funding to expand across Africa.

These ten ventures are part of the innovative, …

• Foodtech startups are leading a movement that aims to enhance food security and transform African agriculture into a model of economic viability and sustainability.
• Nile, a business-to-business (B2B) marketplace seeks to modernise agricultural trade by enabling direct connections between farmers and buyers.
• Another entity, Sand to Green, employs advanced agroforestry practices and technology to transform arid desert lands into fertile agricultural zones.

In the face of a future where 140 million people in Africa confront acute food insecurity, the emergence of foodtech startups across the continent is starting a new phase in agricultural practices and food production.

Armed with innovative technologies and visionary approaches, these startups are leading a movement that aims to enhance food security and transform African agriculture into a model of economic viability and sustainability.

A trio of visionaries from Amazon, JP Morgan and Luno have established a digital insurance platform Nile, a business-to-business (B2B) marketplace that …

As COP28 unfolds with its myriad discussions and commitments, a less visible but equally critical issue looms on another continent – the pervasive problem of greenwashing in Africa. From the corridors of corporate power to the burgeoning startup ecosystem, greenwashing emerges as a misleading marketing tactic and a significant barrier to genuine environmental and social progress in Africa.

In Africa’s corporate sector, greenwashing has become a strategic tool used by both corporations and governments to cover up environmentally detrimental practices. This issue is acutely critical in a continent where environmental conservation is not just a matter of policy but survival.…

• The Baobab network has called for applications for the Cohort 1, 2023 accelerator programme 
• The accelerator programme is designed to give Entrepreneurs in Africa  the funding and platform they need to take their ideas  global.
• The programme will offer start-ups $50,000 USD in funding, a three month cohort program including personalised two-week consultation sessions with tailored support, in exchange for 10 percent equity.

The Baobab Network has called for applications for the Cohort 1, 2023 accelerator programme aimed at supporting Africa’s boldest innovators to scale homegrown solutions.

The accelerator programme is designed to give Entrepreneurs in Africa the funding and platform they need to take their ideas  global.

The programme will offer start-ups $50,000 USD in funding, a three month cohort program including personalised two-week consultation sessions with tailored support in exchange for 10 percent equity.

Their venture team works with startups to accelerate growth, build capacity and unlock the …

• The Kenyan Startup ecosystem has employed 11,000 people according to the latest analysis by Disrupt Africa. 

• The Kenyan Startup Ecosystem 2022 report indicates that at least 308 tech startups were in operation across Kenya as of November 2022. 

• At least 242 Kenyan tech startups raised a combined US$1,281,918,200 between January 2015 and November 2022. 

A new report by Disrupt Africa has revealed that jobs by Kenyan startups hit 11,000 in 2022. 

The data dubbed ‘Kenyan Startup Ecosystem 2022’ indicates the jobs were created by 308 tech startups across Kenya as of November 2022. 

According to the report, these startups are also supported by a strong investment ecosystem. At least 242 Kenyan tech startups raised a combined US$1,281,918,200 between January 2015 and November 2022, a figure bettered only by Nigeria. 

By mid-November, 63 Kenyan startups had raised funding in 2022, with the country’s running total for the year standing at US$506,686,000. …

Google has committed US$6 million to support African startups as well as underserved communities on the continent.

In a statement, Nitin Gajria, Managing Director for Google Africa, and Rowan Barnett the Head of Google.org EMEA said the funding will go towards programs that will reaffirm its commitment to Africa.

The programs include a $3 million USD Black Founders Fund for African startups and a $3 million USD Google.org grant to help low-income communities develop entrepreneurial skills and funding.

The funding is expected to help African founders grow their businesses not only by providing capital but also by providing access to the best of Google resources.

At the same time, Google has also invited 15 companies from across the continent to the sixth class of the Google for Startups Accelerator: Africa program

Startup Fund

The Google for Startups Black Founders Fund Africa provides grants and technical assistance to early-stage startups led …

African startups raised $2b in funding rounds last year according to the Partech Africa 2020 report.

“The Partech Africa report tracked 250 rounds raised by 234 start-ups compared to 164 rounds by 146 start-ups the year before, representing 52 per cent growth year-on-year growth in deal count,” the report reads in part.

It also noted that the early-stage rounds of seed and Series A investments were extremely dense, signifying investors’ increased confidence in taking early bets in Africa.

Startups look to investors to acquire capital since they are usually alienated by financial institutions.

The process is sequential, divided between pre-seed funding, seed funding, series A, B and growth. according to data, Investors continue to invest majorly in startups at the growth stage, which attracted $912m from 19 rounds compared to seed funding which drew up $151m from 127 rounds.

Also Read: Crowdfunding: Bank Borrowing Alternative For Start Ups

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