Startups
Tech

How FirstCheck Africa is Igniting a Future of Genderless Opportunities and Boundless Innovation

It’s become well-known the struggles that entrepreneurs face, especially in initial phases of bootstrapping and trying to bring a service or product to the market. For so many, securing capital from investors is the grace that either keeps them afloat, or failing to do so, flatlines the business and all of its hope,  In this […]

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Startups

Ventures Platform names Damilola Teidi as Head of Platforms and Networks

Damilola Teidi has been appointed as the first-ever Head of Platform and Networks for African venture capital firm, Ventures Platform. Teidi, who before joining Ventures Platform was Director of Startup Support at Co-creation Hub, will now oversee the venture firm’s efforts to support its portfolio companies. She will lead a team focused on building and […]

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Business Startups

Kenya’s ARA drops fraud and laundering allegations against Nigerian fintech Korapay

Kenya’s Asset Recovery Agency (ARA) has dropped the allegations of laundering and fraud leveled against Korapay, a Nigerian payment company (TechCabal). In July, the ARA, which is charged with identifying and confiscating proceeds of crime committed in the East African country, had brought two separate suits against Korapay and Kandon Technologies Limited, another Nigerian fintech […]

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Startups

€30 million fund generated by Satgana to support African climate tech startups

A European venture capital (VC) firm headquartered in Luxembourg, has closed a €30 million fund to fund startups that tackle climate change problems in Africa. The fund will do so by investing up to €500K in the pre-seed and seed stages of startups across Europe and Africa.  The VC will leverage the network of its […]

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Startups

Google launches accelerator for circular-economy focused startups

Tech giant Google is launching a new startup accelerator that will be focused on the circular-economy. The project will aid Google in its stride on environmentally centered startups. The circular-economy is an alternative in how we produce and consume our goods. Instead of traditionally making products, using them and then discarding off their remains as […]

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Business

Ghanaian agritech startup Farmerline raises $1.5 million pre-series A extension

Last year, the agricultural sector in Ghana contributed almost 20% of the GDP, continuing a trend that has seen agriculture as the biggest contributor to the Ghanaian economy before being recently taken over by the services and industrial sectors. The agricultural sector also accounted for over 28.46% of the total workforce in 2020. The majority of the […]

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Business Finance

Kuda in trouble? Nigerian Neobank incurs over N6 Billion loss in 2021

The last two years have seen losses for Kuda MFB, a neobank with a Nigerian microfinance bank license. According to the company’s financial report, reviewed by Business Verge, it lost $6,092,554,866 ($14,214,681) by the conclusion of the 2021 fiscal year, an increase of 602% over the $2,025,295 loss it suffered in 2020. The company’s sales […]

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Business Finance

Google provides $4 million in equity-free funding to 60 African companies.

At the Transcorp Hilton Hotel in Abuja, Google announced that 60 African startups have been selected for the second cohort of its Google for Startups Black Founders Fund.  Each of the selected startups will receive support in the form of a 6-month training programme that includes tailored workshops, community-building sessions and access to a network […]

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Business Economy Finance

For startups in Africa, winter has arrived and this means layoffs and salary reductions.

The US, Asian, and European money markets have all declined since the start of 2022. The stock market crashed, venture investment for startups decreased, and companies that had just gone public experienced a significant drop in valuation. Companies like Netflix, Meta, and Google have stopped hiring, while others like Shopify, Coinbase, Robinhood, and Microsoft have […]

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Startups Technology

A Progress Report on the Nigerian Startup Bill

Wednesday 27th July was a significant day in the development of Nigeria’s tech industry. The news that the Nigeria Startup Bill had passed the third reading at the House of Representatives was met with delight by every stakeholder, ecosystem leader, entrepreneur, citizen, and policymaker who had been involved in advancing the NSB movement. “This is […]

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