Browsing: african tech

It remains uncertain how long this economic downturn lasts or which businesses and investors will remain standing when it ends. Nevertheless, many tech startup players believe that the African digital ecosystem will remain relatively unscathed.

This moment provides a chance for Africa-focused funds to flourish. The African tech startup industry offers the funds tremendous possibilities to invest at a low cost. The best businesses find footing at times like these.…

• The African firm which provides shared transportation services for both intracity and intercity movement acquired the Turkish firm at around US$40 million
• Swvl currently repurposes underutilized, privately owned buses or minivans for different purposes throughout the day
• Swvl said the acquisition of Volt Lines would add an incremental US$4.3 million of annualized revenue to its balance sheet

Egyptian startup Swvl has expanded into Turkey after it recently acquired B2B transportation-as-a service operator Volt Lines. 

The African firm which provides shared transportation services for both intracity and intercity movement acquired the Turkish firm at around US$40 million.

The acquisition now gives Swvl access to Volt Line’s tech as well as over 110 corporate client contracts. 

Swvl currently repurposes underutilized, privately owned buses or minivans for different purposes throughout the day. 

Some of these include shuttling intercity commuters along fixed routes, providing rides between cities and driving corporate employees to work …

Africa making huge moves to advance rapidly within the realms of social impact entrepreneurship and innovation.

From smart environmental solution based in Dar es Salaam Tanzania to e-learning innovations in Cape Town, South Africa are filled with rather interesting operations that will levitate the region in the coming decades.

The continent has rather made some great strides over the past years, having platforms such as The Next African Start-Ups program launched in 2018, connecting entrepreneurs with potential investors, financial institutions and policymakers—catering all necessary items for their growth and introduction of fresh services and technologies that will improve lives of people across the region.

Despite the year 2020 being a record market for investment into the African tech startup ecosystem. Whereby more money was raised from a large pool of investors compared to other years before, 2021 came with a dark cloud.

According to information from Bloomberg News which cited …

The last decade (2010-2020) was an important experiment in African tech ventures moving out of the “labs” and becoming real businesses that saw investors backing them with so much capital that from 2014 to 2019, the total number of VC deals doubled every year until the advent of COVID-19, which disrupted global economic activities in 2020.[1] However, 2020 saw some notable exits including World Remit’s acquisition of Sendwave for $500M[2], Network International buying DPO for $288M[3] and Stripe taking over Paystack for $200M[4] to enter the African market as Egypt’s Fawry gain unicorn status.[5] The IPO of Fawry the third Africa tech venture reach market capitalization of over $1 billion to after Jumia[6] and Interswitch[7] was overs subscribed 30 times. 2020 ended with another notable exit, with two initial shareholders in Ghanaian fintech startup, Zeepay, exiting from an initial investment of about …