Africa’s first continent-wide digital payment platform goes live

The Pan-African Payment and Settlement System (PAPSS), Africa’s first continent-wide digital system for goods and services payments in local currencies, has reportedly gone live, nearly three years after its pilot launch in West Africa. Formerly called Intra-Africa Trade Platform, PAPSS appar

Koa, Valrhona unite to launch cocoa fruit juice concentrate Oabika

Following the success of Koa's dried cocoa fruit and cocoa fruit juice, Koa and Valrhona have introduced a new concentration that complements the spectrum of cocoa fruit ingredients. Valrhona, a luxury chocolate company based in France, and Koa Switzerland are seeking to unitedly embrace the up

Global Esports Federation expands presence in African, American regions

The Global Esports Federation (GEF) announced to have established two development organizations in Africa and the Pan American regions. As per the organization, the development federations will support the development, education, and growth of the esports community in their corresponding continents

Nigerian firm Releaf raises $4.2Mn to expand its food processing tech

Releaf, a Nigeria-based agriculture technology start-up, has reportedly secured an investment of $2.7 million in seed funding. The company is seemingly working on building proprietary software and hardware solutions to help farmers and food manufacturers become more profitable and efficient. Accord

South Africa shows interest in hosting FIFA Club World Cup in December

South Africa is reportedly shown interest in hosting the next FIFA’s Club World Cup in December 2021. The news comes after Japan, which recently hosted the Paralympics and Summer Olympics, withdrew its bid last week over fears that the football tournament would again cause a surge in infection

Africa’s USD 1.19 Bn fund receives USD 26.5 Mn from Nigerian startups

Nigeria has been a popular location for venture capital in the recent past. The country added USD 26.5 million to Africa's USD 1.19 billion amassed in the first half of this year. Major African financial center Lagos has already surpassed Nairobi, Kenya, as Africa's leading startup ecosyste

Prospa bags $3.8M to offer banking & software services to small firms

Nigerian fintech startup Prospa has reportedly closed a $3.8 million pre-seed round with a strong determination to change the way micro-businesses are being served by the banks. If sources are to be believed, over 40 million micro-businesses in Nigeria are underserved in banking services in some for

African fintech Wave bags USD 200 million in a Series A funding round

Wave, an African company that specializes in providing mobile payment solutions has reportedly secured USD 200 million in a Series A funding round led by Sequoia Heritage, Founder’s Fund, Stripe, and Ribbit Capital. This is considered to be the largest Series A investment round in the Francop

Autochek buys Cheki Kenya and Uganda to expand presence in East Africa

Autochek, a Nigeria-based automotive technology entity, has taken over Cheki Kenya and Uganda from ROAM (Ringier One Africa Media) for an anonymous sum.  According to a statement by Autochek, through the acquisition, the entity will expand its presence in East Africa. It follows its first acqu