Browsing: startup funding

• The Africa Fintech Accelerator program has increased the number of women-led startups
• The Accelerator program, launched in June 2023, is aimed at uplifting the digital economy in Africa
• The list, is majorly dominated by West and Central African states that command 11 enterprises.

Only one Kenyan fintech startup has made it through into the second cohort of Visa’s Africa Fintech Accelerator program.

Out of the possible 20 only CheckUps Medical Hub, an Embedded health Kenyan startup, made it to the shortlist. Tanzania got two representatives and Ethiopia also got one.

The list is majorly dominated by West and Central African states that command 11 enterprises. While Southern Africa only has three two from South Africa and one from Zambia.

According to the digital payments firm, Cohort 2 startups operate across 28 African countries, a 55 per cent increase from Cohort 1 where the representatives operated across 18 countries. …

• Cash-strapped Kenyan startup Twiga Foods has raised an undisclosed funding amidst operational restructuring attributed to tough market conditions. 
• The firm announced that it has successfully closed a capital raise to fund its transformation and growth plans, anchored by Creadev and Juven, with participation from other existing shareholders. 
• The move comes months after the firm announced that it will lay off a third of its 850 permanent employees. 

Cash-strapped Kenyan startup Twiga Foods has raised an undisclosed funding amidst operational restructuring attributed to tough market conditions. 

The firm on Monday, announced that it has successfully closed a capital raise to fund its transformation and growth plans, anchored by Creadev and Juven, with participation from other existing shareholders. 

The move comes months after the firm announced that it will lay off a third of its 850 permanent employees. 

Twiga Foods chairman says firm on track to digitize retail economy

“The company …

• Eastern Africa startups raised $1.2 billion in 2022 a 115 percent increase compared to 2021 where startups raised $600 million. 
• Western Africa, despite a small decrease in funding in the period under review, remains firmly in the lead in the continent.
• The region’s startups received funding worth $1.8 billion in 2022 from $2 billion in 2021. 

Eastern Africa startups raised $1.2 billion in 2022 a 115 percent increase compared to 2021 where startups raised $600 million. 

Latest data from The Big Deal indicate that this is a huge milestone as the region reached the $1 billion mark for the first time resulting in its revenue share for continental funding more than doubling from 12 percent in 2021 to 26 percent in 2022. 

According to the report, Western Africa, despite a small decrease in funding in the period under review,  remains firmly in the lead in the continent. The region’s startups …