Ecosystem
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Injaro, a Ghanaian investment company, has announced the close of its private equity fund, the Injaro Ghana Venture Capital Fund (IGVCF), at $17.5 million to empower SMEs in Ghana and Ivory Coast.
Over 90% of Nigerian startups call Lagos home, yet other cities are catching up. Experts stress the importance of these cities in spreading startup benefits but caution it demands effort.
NaijaHacks now known as World Innovation League has raised $1.2 million in funding from a Canadian accelerator. Founded by Uchi Uchibeke in 2018, the hackathon gave names like Emmanuel Njoku a platform to showcase their tech skills.
Applications are open for the first edition of the Ignite Lagos accelerator. Startups across Nigeria are encouraged to apply.
In 2023, Nigerian startups secured less funding compared to Kenya, South Africa, and Egypt. However, investors find its large population, robust economy, and advanced tech scene appealing.
Despite a 23% decline in funding to African startups in 2023, Briter Bridges contends that this is a corrective adjustment rather than a crisis moment. Additionally, it highlights that the deal count on the continent continued to increase.
Access Bank has secured a definitive agreement to obtain a majority stake in Uganda’s Finance Trust Bank.
About a week after securing a $30 million capital commitment from EIB Global, Seedstars Africa Ventures will receive $10.5 million in new funding from the African Development Bank (AfDB) to boost innovations in Africa.
The United Nations Development Programme has collaborated with several African countries to launch Timbuktoo, a $1 billion initiative to power Africa’s startup revolution.
Convergence Partners, a pan-African private equity firm, has agreed with Alviva Holdings to acquire the entire stake in Datacentrix, a South African integrated ICT solutions provider, via its Digital Infrastructure Fund.
General Atlantic, a New York-based growth investor, plans to acquire Actis, a London-based energy infrastructure investor, in an undisclosed deal expected to close in the second quarter of 2024.
Seedstars Africa Ventures has received $30 million from EIB Global, a subsidiary of the European Investment Bank, to support early-stage startups.
Ethiopia’s first VC-backed incubator, weVenture, is taking the country’s tech ecosystem by storm with lofty goals and a plan.
We asked some of the most influential people in the Nigerian tech ecosystem what 2023 was like for them and what they wanted for Christmas. They also shared which stories shocked them the most this year.
Peace Itimi’s documentary, Innovating Africa, offers insight into the evolution of Nigeria’s tech ecosystem. Compiled from over 24 hours of footage, Itimi shares the motivation for its creation.
Blockchain payments platform, Bitmama Inc. has confirmed the acquisition of Payday, a virtual card service provider. The news comes barely nine months after Payday announced its $3 million seed round and three months after its exploration of sale options was confirmed. Facilitated through Bitmama’s cross-border payments product Changera, the acquisition marks a pivotal shift from…
Mastercard Foundation Africa Growth Fund now supports five Africa-focused investment firms with investments into Chui Ventures, SME Impact Fund, and VestedWorld.
The Eco Pilot Fund I will invest in up to 10 pre-seed startups in the energy, mobility, and agricultural sectors while providing fundraising assistance.
Aduna Capital’s $20 million fund will focus on startups from Northern Nigeria and aim for a 50% female representation.
Few things have the power to bring people together and cultivate a sense of teamwork like the beautiful game of football. Oui Capital encourages teams to explore beyond business as usual through the dynamic fusion of competition, camaraderie, and creativity fostered at Startup Cup. Startup Cup offers a refreshing opportunity, uniting founders, startup employees, investors,…