Toyin Sanni (Founder & CEO, Emerging Africa Group) Despite global economic upheavals and statistics that show a nose-dive in funds available to startups in Africa, these Venture Capitalists, who announced their funds early in 2023, continue to be bullish about opportunities in the African tech sector: Source: Afridigest • Aduna Capital – Surayyah Ahmad Sani, Sanusi Ismaila• Afri-Venture Capital Company – Nasir El-Rufai• Black Ostrich Ventures – Ajani Windsor-Areago• Emerging Africa Group (Emerging Africa Technology Fund) – Toyin F Sanni and Toni Sanni• Plesion Capital – Ben Finlay
Just In
(L-R): Belal EL-Megharbel (Co-Founder & CEO, MaxAB) and Daniel Yu (Founder & CEO, Wasoko) Kenya’s Wasoko and Egypt’s MaxAB have just announced that they are in merger talks, signing preliminary terms which could signal that the largest merger ever in African tech may be in the horizon. Both Wasoko and MaxAB operate in the same B2B e-commerce space, offering informal ‘mom & pop’ retailers (their major clients) an app that ensures they can re-order essential goods (such as rice, flour, and soap), and have the items delivered within a few days. The two companies also offer financing that enables merchants order goods…
Tosin Oshinowo (Founder, Oshinowo Studios) It has been a brilliant 2023 for Ọshinówò Studio (a top architectural firm in Lagos offering international architecture, architectural design and build, studio design), celebrating 10 years in business, and including a name change from CmDesign Atelier to Ọshinówò Studio. Lantern House, ADIDAS flagship in Lagos 🎥@tosinoshinowo Led by founder, Tosin Oshinowo, the Studio completed the Lantern House, ADIDAS flagship in Lagos, while Tosin herself curated the second Sharjah Architecture Triennial in the UAE. In 2024, Ọshinówò Studio look forward to completing its projects for Goethe Institut and UNDP in Lagos, as well as…
Edmund Olotu (Founder & CEO, Bloc Bloc, a rising African fintech startup recently announced the launch of its flagship business banking solution, catering specifically to the needs of tech-savvy businesses across the continent. As a Banking-as-a-Service (BaaS) provider that has empowered hundreds of startups with embedded financial services, Bloc Business Banking offers a comprehensive suite of financial services that include: Essential Banking Services: Corporate accounts, transfers, virtual cards, and more powered by licensed banks. Advanced Features: USD accounts, global payment acceptance, bill payment, custom checkout, and payment links. Seamless Integration: Bloc integrates seamlessly with existing business workflows and platforms. Says…
Kareem Elsirafy (Managing Partner, Modus Capital) In November 2023, startups in the Middle East and North Africa (MENA) region secured a significant funding milestone, raising $764 million across 42 funding rounds. This reflects a remarkable month-on-month increase of 390% and a substantial year-on-year growth of 74%. Saudi Arabia took the lead by securing the top spot, raising an impressive $338 million across nine deals The UAE followed closely in second place, accumulating $284 million across 22 deals Egypt maintained the third position, raising $130.5 million through five funding rounds The remaining capital was allocated to startups based in Kuwait, Morocco,…
Prince Boakye Boampong (Founder & CEO, DaSh) : tHE Ghanaian fintech shut down after raising $86.1M in five Years 📸 DASH In 2023, venture capital funding declined significantly across the world, and despite initial hopes that the promise of the African tech ecosystem might mean it avoided too much damage, the growing size of the continent’s “startup graveyard” suggests that this is not the case. As evidence, these 10 well-known startups have shut down in 2023. Sendy: In August, Kenyan end-to-end fulfillment startup Sendy shut down operations and announced a fire sale of assets (it didn’t call it that), with reports saying…
Jessie Abugre (Co-Founder, Zuputo) Co-founders Jessie Abugre and Nana Adwoa Amponsah-Mensah have launched Zuputo into the African market. Zuputo (which means ‘brain’ in the Gurune language of Ghana’s Frafra people) offers tailored contracts that take the jargon out of legal processes, making them clear, quick, and hassle-free for individuals and businesses across Africa. The company’s range of services include startup launch, navigating compliance, intellectual property protection, contract services, and access to legal experts. Emphasising the company’s mission, Jessie Abugre says:, “We are passionate about dismantling barriers in the legal field. Zuputo is more than a platform; it represents our dedication…
Eme Ugwuegbu is the enterprising Founder of Sahara Sunrise Naturals (makers of natural hair and body care products), whose product lines include shea butter, black soap, salt and sugar Scrubs, lip balms, soaks, and scented candles. Sahara Sunrise is live at the Delights trade fair, taking place in Port Harcourt (Rivers State, Nigeria), and Eme is on hand to serve customers herself. Says Eme: “I know first hand what it feels like when someone thinks you are 20 years younger than you actually are, all because of the look and feel of your skin! We want you to feel the…
Olapeju Umah – Founder & CEO, MyFoodAngels (formerly Mile12 Market Woman) Olapeju Umah is the Founder & CEO of MyFoodAngels (formerly known as Mile12marketwoman) – an agricultural hub which leverages technology with the objective of closing the gap of access to organic farm produce by connecting farmers and consumers. Basically, farmers in the MyFoodAngels network are funded with high yielding seeds, and assured of an offtake of the mature produce, which are directly sold to end-customers who enjoy affordable products for longer shelf life than what is obtainable in the open markets. 🎥 @myfoodangels Says Olapeju: “Over the years, MyFoodAngels…
Co-Founder & CPO at ThankUCash, Simeon Ononobi has just launched the Store Smart suite of solutions, which include: The Store Smart Mini: a retail solution and seats on a mobile phone and records all sales – this has been upgraded to the Store Smart Mini Plus to now have Payment via NFC payments collection and finally; and The Store Smart Max, which comes installed on a POS with Opay, Interswitch, Nomba, Netop or ErrandPay terminals. Simeon Ononobi (Co-Founder & CPO , ThankUCash) Says Simeon: “Whichever you choose works like magic and helps with Inventory management, Stock management and alerts, product…