Tech
Forex Crisis Slows Nigeria’s AfCFTA Export Drive Despite $3.4 Trillion Market Opportunity
Forex Sectors

Forex Crisis Slows Nigeria’s AfCFTA Export Drive Despite $3.4 Trillion Market Opportunity

Nigeria’s entry into the African Continental Free Trade Area (AfCFTA) was meant to be a game-changer. A $3.4 trillion market call, with opportunities to expand the country’s export portfolio across the continent. Yet, just four months after flagging off its participation under the Guided Trade Initiative, Nigerian exporters are not celebrating—they’re frustrated. The reason? The […]

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Sawari Ventures Launches $200M Fund to Boost Startups in Egypt, Kenya, and West Africa
Investors Venture Capital

Sawari Ventures Launches $200M Fund to Boost Startups in Egypt, Kenya, and West Africa

Egypt-based venture capital firm Sawari Ventures is gearing up to launch its second fund, Sawari Ventures II, in early 2025. With a target of raising $200 million, this fund aims to build on the success of the firm’s first fund and expand its reach into new sectors and regions, according to Launch Base Africa. The […]

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In a huge win for Nigeria's small business community, Earthbond, a local startup, just raised $200,000 in pre-seed funding. The company, founded in 2023 by Chidalu Onyenso, is on a mission to help small and medium-sized businesses (SMBs) transition to solar power — and with this new funding from Madica, an Africa-focused investment firm, they’re ready to help even more. Earthbond has already done a lot. They’ve assessed the solar power needs of over 100 businesses in Lagos alone, and with deals potentially worth $1 million in the works, the demand for solar power is clear. Even more impressive, over 1,800 SMBs have joined Earthbond’s waitlist, eager to make the switch as fuel prices continue to climb. A Simple Way to Switch to Solar So, how does Earthbond work? It’s pretty straightforward. Business owners simply need to fill out a form on the company’s website, providing basic information about their energy needs and operating hours. Earthbond then connects them with solar panel installers and offers flexible financing options. In fact, Earthbond has partnered with four microfinance banks to offer repayment plans of up to 48 months. That means small businesses can get the clean energy they need without the massive upfront costs. “Leading the charge of energy transition is no easy feat,” said Chidalu Onyenso, CEO of Earthbond, “and we’re glad to have investors like Madica who share our passion and vision.” Why Solar Matters for Small Businesses In Nigeria, small businesses face a major challenge: keeping the lights on. With unreliable power supplies and the high costs of diesel and petrol generators, many are struggling to keep operations running smoothly. Solar power is a clean, reliable alternative — but until now, the high installation costs have kept many businesses from adopting it. That’s where Earthbond comes in. By offering flexible payment options and connecting businesses with solar providers, they’re helping more and more companies make the switch to clean energy — without breaking the bank. Earthbond’s plans don’t stop there. The startup is also looking at ways to help businesses track their carbon emissions, with plans to offer discounts based on how much carbon they save. This could be a game changer, not only for the environment but for the businesses themselves, who can save money while going green. As Nigeria works towards increasing its solar capacity, Earthbond is entering a market already served by established players like Rensource Energy and M-KOPA. But with this new funding and a unique approach to financing, Earthbond is ready to make its mark. Madica, the investment firm behind the funding, is eager to help. “Earthbond has tremendous potential to drive an equitable clean energy future and positively impact Africa,” said Emmanuel Adegboye, head of Madica. For small business owners looking for a reliable, affordable alternative to diesel and petrol generators, Earthbond offers a way forward. Their flexible financing options and easy-to-use platform make it simple to figure out how much solar power your business needs — and how to get it, without the massive upfront cost.
Funding Startups

Earthbond Secures $200,000 in Funding to Support Nigerian Small Businesses in Solar Transition

In a huge win for Nigeria’s small business community, Earthbond, a local startup, just raised $200,000 in pre-seed funding. The company, founded in 2023 by Chidalu Onyenso, is on a mission to help small and medium-sized businesses (SMBs) transition to solar power — and with this new funding from Madica, an Africa-focused investment firm, they’re […]

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Ghana's Aya Data Raises $900,000 Seed Round to Expand AI Solutions in Africa
AI Tech

Ghana’s Aya Data Raises $900,000 Seed Round to Expand AI Solutions in Africa

Ghana-based AI consultancy startup, Aya Data, has successfully raised $900,000 in a seed round, combining both debt and equity. This new funding will help the company scale its AI products—AyaGrow and AyaSpeech—and bring on new talent. With this latest round, Aya Data’s total funding now stands at $1.15 million. The startup previously raised $300,000 from […]

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Yellow Card Secures $33 Million in Series C Funding to Boost Expansion and Innovation
Fintech Funding

Yellow Card Secures $33 Million in Series C Funding to Boost Expansion and Innovation

African fintech startup, Yellow Card, has successfully raised $33 million in a Series C funding round, led by Blockchain Capital. Other notable investors participating in this round include Polychain Capital, Third Prime Ventures, Castle Island Ventures, Block, Inc., Galaxy Ventures, Blockchain Coinvestors, Hutt Capital, and Winklevoss Capital.  This funding brings Yellow Card’s total investment to […]

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Nairobi's Sistema.bio Secures $15M to Expand Clean Energy for Farmers
Energy Funding

Nairobi’s Sistema.bio Secures $15M to Expand Clean Energy for Farmers

Sistema.bio, a company focused on providing renewable energy to smallholder farmers, has raised $15 million in new funding to help grow its business. The funds will allow the company to expand into more markets and improve the clean energy solutions it offers to farmers around the world. This round of funding was led by ElectriFI, […]

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Lagos Tech Ecosystem Surges Past $9 Billion, Sets New Benchmark for Africa’s Innovation Growth
Tech

Lagos Tech Ecosystem Surges Past $9 Billion, Sets New Benchmark for Africa’s Innovation Growth

Lagos State’s booming tech startup scene has crossed the $9 billion valuation mark, further cementing its status as a premier hub for innovation in Africa. This revelation was made by the Lagos State Commissioner for Innovation, Science, and Technology, Tunbosun Alake, during a high-profile breakfast meeting with global investors at the ongoing GITEX Global tech […]

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WellPal Expands to Saudi Arabia, Secures Investment for Growth
E-Commerce Funding

WellPal Expands to Saudi Arabia, Secures Investment for Growth

WellPal, an Egyptian e-commerce platform specializing in health and wellness products, has announced its relocation to Saudi Arabia following an undisclosed investment round from an angel investor. Founded in 2019 by Mohamed Ali and Mohamed Tantawy, the company aims to leverage the new funding to accelerate its growth and establish a stronger foothold in the […]

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TOP 5 FINTECH INVESTORS FUELING INNOVATION ACROSS AFRICA 
Fintech Investors

TOP 5 FINTECH INVESTORS FUELING INNOVATION ACROSS AFRICA 

Africa’s fintech ecosystem has seen a surge in investment over the last few years, driven by a combination of technological advancements, a young population, and rising demand for financial inclusion. As a result, several key investors have stepped forward to fuel this growth, helping fintech startups scale rapidly and expand their reach across the continent.  […]

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Vodafone and Google Launch a Decade-Long Alliance to Enhance Consumer Experience Through AI and Cloud Technology
AI Cloud Technology

Vodafone and Google Launch a Decade-Long Alliance to Enhance Consumer Experience Through AI and Cloud Technology

Vodafone and Google have embarked on a groundbreaking ten-year partnership, set to revolutionise the way millions of customers experience digital services across Europe and Africa. This collaboration aims to harness the power of AI and cloud technology to introduce innovative services, devices, and enhanced television experiences, powered by Google Cloud and Gemini AI models. Empowering […]

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