Here are this week’s top news headlines about startups, entrepreneurship, innovation and tech around Africa.
Swvl raises $8m Series A. In what will be the largest funding round ever for an Egyptian startup, public transport customisation platform, Swvl recently announced raising an $8m Series A round led by regional venture fund BECO Capital, Africa-based investor DiGAME and global VC fund Silicon Badia. Read more on Egyptian Streets.
MFS Africa secures $4.5m Series B. Pan-African mobile money payment gateway, MFS Africa has also secured a $4.5m Series B funding round led by LUN Partners Group, a China-based global investment management group. Read more on Telecompaper.
Ugandan government continues to stifle internet. Coming on the heels of revealing its intentions to tax citizens for social media usage, the Ugandan government has reportedly go on to direct ISPs to block ‘unauthorised’ news websites in the country. Read more on Techweez.
- About 128.5 million Nigerians will have a mobile subscription by 2025
- Glo partners Huawei to serve Southern Nigeria with Glo 2 submarine cable
- MainOne granted license to land submarine cable in Ivory Coast
- Securities and Exchange Commission considers e-IPOs
Nigerian startups raised $55.4m in Q1 2020; over 99% of which came from foreign sources. Find out more when you download the full report.
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