Category: Business

Startups in Africa have supposedly raised record-breaking funding in 2021, ranging between $4.3 billion to $5.2 billion, as per data-tracking publications – The Big Deal, Partech, and Briter Bridges. The Big Deal has reported that African startups raised $4.33 billion in total last year, a 15

The United Nations World Food Program (WFP) has reportedly called for a funding of 37.15 billion shillings (approx. USD 327 million), as its response to tackle the severe drought situation in the Horn of Africa. Michael Dunford, Regional Director, WFP Regional Bureau for East Africa, stated that th

The sub-Saharan countries in Africa face a connectivity crunch as Meta announces discontinuation of its affordable Express Wi-Fi internet services, introduced in the underserved region five years ago to boost connectivity. Formerly branded as Facebook, Meta issued a notice stating its plans to brin

Oracle Corporation, the American multinational computer technology enterprise based in Texas, has reportedly announced a US$1 million investment to support technology startups based out of Africa. The new investment would help the startups expedite their digital initiatives by leveraging the latest

With the governments across the world doing their bit to curb the climate change challenges, the Board of Directors from the African Development Bank have reportedly agreed to grant $10 million, from the Green Climate Fund, to improvise the early climate changes in Liberia. The Liberian government

Norrsken Foundation has reportedly teamed up with thirty unicorn founders and private equity and venture capital investors to set up a $200 million fund to support the startup firms in Africa. The fund, labeled as Norrsken22 African Tech Growth Fund, has apparently raised capital worth $110 million

NALA, a Tanzanian cross-border payments firm, has reportedly announced raising $10 million in a new investment tranche, after its recent transition from regional to international money transfers. NALA began testing its international transfers after customers expressed interest in transferring money

TLcom Capital, a UK-based venture capital firm focused on Africa, best known for its bets on Twiga and Andela, has reportedly announced that it is raising more than $150 million for its second fund, oriented towards making initial and late stage investments. As per sources, the business has already

The Chinese government is reportedly planning to invest more than $300 billion in Africa over the coming three years. The investment was announced by Chief Dana Chen, Chairman of the China Africa Business Council (CABC). During the signing ceremony of a Memorandum of Understanding (MoU) between Lag