Start-ups in Nigeria, Kenya, South Africa and others on the continent raised $2.2 billion last year in equity, debt and grants (exc. exits), according to latest data compiled by Africa: The Big Deal. While this is a good amount in absolute terms, it represents a -25per cent drop when compared to the $2.9billion that were…
As Artificial Intelligence (AI) adoption accelerates, a critical shortage of technical talent threatens to bottleneck progress for many companies. RapidCanvas is breaking this barrier by democratizing AI-driven business transformation. Today, the company announced a $16million funding round for its AI agents that automate up to 75per cent of complex tasks traditionally performed by data scientists…
The Central Bank of Nigeria (CBN) slammed N1billion fine each on the country’s most prominent unicorns, Moniepoint and OPay during the second quarter (Q2) of this year, sources have said. While several other fintech companies were also penalized, the two firms were worst hit by the huge fine. The penalties followed a routine CBN audit…
An Artificial Intelligence (AI)-powered platform, Hermplify, has made its debut to help women entrepreneurs and young girls in Africa grow their businesses and learn valuable tech skills. The platform is designed to make it easier for women to succeed by providing tools for managing their businesses, accessing financial support, and learning in-demand digital skills. Hermplify…
Lagos Ministry of Agriculture & Food Systems Department in collaboration with the Lagos State Employment Trust Fund (LSETF) and EkoInnovation Centre, supported by the Lagos State Government has awarded N100 million in grants to 26 young agripreneurs at the maiden edition of the Lagos Agrinnovation Summit. The platform is designed to foster meaningful conversations, collaboration,…
A leading online platform for African language learning, Lingawa, has successfully closed a $1.1 million pre-seed funding round that coincides with the company’s rebranding from TopSet to Lingawa, signaling its expanded mission to connect global audiences with the richness of African culture and heritage. The funding round attracted notable investors, including Zrosk, WEAV Capital, Kaleo…
Last month, start-ups in Africa raised over $250million in funding with Nigeria leading the pack with megabucks coming to Moniepoint and Yellow Card. According to a report entitled: Africa: The Big Deal, 42 start-ups on the continent announced a total of $254million in funding plus over $100, 000 in equity, debt and grants excluding exits….
The United States (U.S.) government, through the U.S. Commercial Service Liaison Office to the African Development Bank (AfDB) and U.S. Commercial Service in Nigeria, in partnership with the American Business Council (ABC) and the AfDB’s Nigeria Country Department, has hosted the Discover AfDB workshop, focusing on the Bank’s recent investments in the digital space. This…
A tech firm, Durubata Ltd., at the weekend, launched Appmint, a no-code Artificial Intelligence (AI)-powered platform for Small and Medium Enterprises (SMEs) in Africa.The Chief Executive Officer (CEO) of Durubata Ltd., Mr Jacob Ajiboye, said at a news conference to unveil the platform in Lagos that it was designed to empower startups, entrepreneurs and SMEs…
