Ecosystem
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The United Nations Development Programme (UNDP), in collaboration with African governments and the private sector, has begun constructing tech hubs across the continent. This comes nearly six months after announcing its $1 billion Timbuktoo initiative.
Convergence Partner’s agreement to acquire 100% of Datacentrix, which was subject to certain conditions and approvals, has received a go-ahead from regulators.
IFC, Proparco and RMB have teamed up to finance a funding package of over $50 million to support WIOCC Group’s plans to expand its digital expansion initiative in Nigeria, South Africa, and the Democratic Republic of the Congo.
Breega, a Paris-based venture capital firm, has announced the launch of its first African fund, a $75 million investment vehicle for early-stage startups.
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Orange Ventures invests in startups, leveraging the Orange Group’s reach and expertise. In this interview with Techpoint Africa, Deputy CEO of Orange Middle East and Africa, Brelotte Ba, shares the fund’s strategy for African investments.
David Cohen, the former CEO of Techstars, will return to lead the international accelerator by the end of May 2024. The current CEO, Maëlle Gavet, will leave the company after 3 and a half years to focus on her health.
OpenseedVC, an early-stage venture capital (VC) firm launched in 2024, has announced reaching the first close of its $10 million fund to back early-stage operator-founded startups in Africa and Europe.
Accion, a non-profit organisation, has announced launching the Accion Digital Transformation Fund, a $152.5 million investment, to back companies serving micro, small, and medium enterprises (MSMEs) across Africa, South and Southeast Asia, and Latin America.
CCI Global, an international outsourcing firm operating in Kenya, Egypt, South Africa, Ethiopia, Ghana, and Rwanda, has announced the launch of a new $50 million call centre that will employ 5,000 Kenyans.
As African countries push for a transition to a digital economy, Chimezie Emewulu, Seamfix CEO, argues that robust digital identity infrastructure is required for digital economies.
CatalyzU, an Africa-focused company that trains African talent, has announced the launch of the “How to Startup” Fellowship in collaboration with Future Africa, a pan-African VC firm.
Startup funding to African startups may have dropped, but Maurizio Caio, Founder and Managing Partner of TLcom Capital, argues that delivering exits would improve Africa’s attractiveness as a VC funding destination.
TLcom Capital announces final close of $154 million fund for seed and Series A African startups.
Verod-Kepple Africa Ventures (VKAV) has announced the final close of its first fund at $60 million, with plans to back up to 21 Series A and B startups.
Procera Group, a South African business process outsourcing (BPO) company, has secured R346 million ($18.8 million) from Vantage Capital to expand into foreign markets.
Funding to African startups fell 62% YoY as mobility and fintech startups lead the way.
The Trade and Development Bank (TDB), an African-focused financial institution, has announced a $100 million financing facility to aid Africa’s agricultural development in the face of high inflation, currency depreciation, and debt.
With its eyes set on a 51% to 100% controlling stake in several companies it intends to invest in, including fintech, telecom, and healthtech, Adenia Partner has announced closing its fifth Africa-focused fund at $470 million.-
African startups are raising less money than they once did, but experts believe a focus on strong fundamentals and exit opportunities would improve the funding outlook.