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African tech VC funding down 50% quarter-on-quarter in H1 2023

July 6, 2023 Editor

In the first half of 2023, African tech startups experienced a significant drop in funding, with a total of US$1.19 billion raised. This marks a decline of over 50% compared to the corresponding period in 2022, highlighting the continued influence of the global economic climate on investment in the sector. According to the most recent edition of the annual African Tech Startups Funding Report released by Disrupt Africa, available free in partnership with Flat6Labs, MarketForce, 4Di Capital, Mercy Corps Ventures, Newtown Partners, and InsiderPR, 633 African tech startups raised a…

Facebook reinforces its presence in Africa

September 21, 2020May 12, 2023 Editor

Facebook reinforces its presence in Africa Facebook is in Africa’s good books yet again and this time, the tech giant hopes to develop products made by Africans, for Africans, and the rest of the world. In 2016, Facebook chief executive Mark Zuckerberg visited Nigeria on what was his first trip to sub-Saharan Africa. While the attraction to the budding tech ecosystem which was already producing some of Africa’s best-known startups was obvious, there was also the underlying influence of Facebook’s pool of high-ranking Nigerian-American executives. Four years later, that influence…

CBK Proposes law for mobile loan apps

August 13, 2020May 17, 2023 Dianne Jacobs

CBK Proposes law for mobile loan apps Digital app lending companies operating in Kenya are set up for a shake-up after the country’s central bank proposed new laws to regulate monthly interest rates levied on loans by digital lenders in a bid to stamp out what it deems predatory practices. If approved, digital lenders will require approval from the central bank to increase lending rates or launch new products. The move comes in the wake of mounting concern about the scale of predatory lending given the proliferation of startups offering…

Venture Vaya Africa, launches an electric taxi service

July 13, 2020May 22, 2023 Dianne Jacobs

Vaya Africa, a ride-hail mobility venture founded by Zimbabwean mogul Strive Masiyiwa, has launched an electric taxi service and charging network in Zimbabwe with plans to expand across the continent.

Venture Vaya Africa, launches an electric taxi service Vaya Africa, a ride-hail mobility venture founded by Zimbabwean mogul Strive Masiyiwa, has launched an electric taxi service and charging network in Zimbabwe with plans to expand across the continent. Vaya Africa, a company registered in Mauritius, responsible for the transport of people and goods in Africa and the generation of adjacent revenues in this sector, launched a new product on the Zimbabwean market. It is the electric vehicle called “Vaya Electric”. The South African headquarters of Vaya Africa has acquired a…

Opera’s Opay Pulls Plug on ORide, OCar, Shifts focus to eCommerce & payments

July 6, 2020June 8, 2023 Dianne Jacobs

News earlier in the week broke that Opera-backed Nigerian fintech startup, OPay has reportedly shut down all its business operations in Nigeria following a letter issued by its foreign investors amidst the poor economic climate caused by the COVID-19 pandemic.. A report claims that all verticals of the startup, including ride hailing, ORide and OTrike — which were still active in other states aside Lagos; the recently launched B2B and B2C eCommerce platforms, OMall and OTrade; OExpress for logistics; and food delivery feature, OFood will be closed down. Opay launched…

Amazon to manufacture self-driving cars after acquiring start-up Zoox for $1bn

July 3, 2020May 23, 2023 Dianne Jacobs

Amazon is making strides into developing its own self-driving vehicles, agreeing to buy Californian start-up Zoox in a deal said to be worth more than $1bn (£810m). The takeover was first reported by tech website The Information and was later confirmed by Amazon. Talks were said to have started between the two companies last month. Zoox’s chief executive Aicha Evans and chief technology officer Jesse Levinson will continue to lead the team as a standalone business after the deal has completed, Amazon said. The takeover is believed to be part of Amazon’s plans to begin…

Google Launched first Developers Space in Lagos

February 14, 2020 Dianne Jacobs

Google launched its first Google Developers Space in Lagos, Nigeria last month. Previously referred to as the Google Launchpad Space, the Google Developers Space is a hub for African developers, entrepreneurs and startups. Google CEO Sundar Pichai, made a commitment to African entrepreneurs In July 2017, to start the Launchpad Accelerator Africa program and launch a space to house these efforts in Nigeria. Google launched the Google Developers Space in Lagos to provide that home, and a space where entrepreneurs, developers, VCs and investors can connect and collaborate with each other.…

Orange opens new Digital center in Senegal

January 13, 2020 Dianne Jacobs

In Dakar, Senegal, Orange has inaugurated its new concept of a place entirely dedicated to innovation, an “Orange Digital Center”. Several personalities attended the launch, including: Ms Ndèye Tické Ndiaye Diop, Minister for the Digital Economy and Telecommunications; Mr Dame Diop, Minister for Employment, Professional Training and Craftsmanship; Mr Alioune Ndiaye, CEO of Orange Africa and Middle-East; Ms Christine Albanel, Head of CSR, Diversity, Partnerships and Philanthropy for Orange, Deputy Chair of the Orange Foundation and former Minister; and Mr Sékou Dramé, CEO of Sonatel. Following on from Tunisia, Senegal will…

Facebook released its 2019 year in review

December 27, 2019December 31, 2019 Dianne Jacobs

Facebook has released its ‘2019 Year in Review’ info-graphic, showcasing just some of its investments across Sub-Saharan in 2019. Committed to giving people the power to build community and bring the world closer together, throughout the year this translated into significant support and investments into growing the ecosystem of developers, entrepreneurs, creatives, and many other communities. During 2019, Facebook Africa: Trained over 7,000 woman-owned businesses in digital skills across sub Saharan Africa; Celebrated 79 Community Leadership Circle meetups with over 2 ,650 people attending; Reached its 45th Developer Circle, with…

Spotify new feature encourages listening of Podcasts

December 17, 2019December 17, 2019 Dianne Jacobs

Early this year, Spotify acquired Gimlet Media, a podcast network and producer which hosts shows like Startup, Homecoming, Mogul, The Pitch, Reply All, The Cut, Science VS and Anchor which was a DIY podcasting startup that provides a set of tools that make it super easy for anyone(beginner and Pro) to create and monetize their own podcasts and for free for reportedly $300 million. Spotify also acquired Parcast, a producer for crime, mystery and sci-fi podcasts for $100m. The audio streaming giant also partnered with BBC Studios and P&G to create more podcasts.…