Early-stage VC firm OpenseedVC launches with a $10 million fund for African startups
OpenseedVC, an early-stage VC firm that was launched in 2024, has reached the first close of its $10 million fund for early-stage startups across Africa and Europe. The $10 million fund is OpenseedVC’s first fund and will be used to back founders with domain expertise, highlighting the increasing importance of founder experience in Africa’s tech […]
Read MoreNext Wave: What’s going on in Kenya’s B2B space?
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Read More👨🏿🚀TechCabal Daily – Unspiralling in Africa
In partnership with Share this newsletter: Lire en Français اقرأ هذا باللغة العربية Good morning To our readers in the Democratic Republic of Congo (DRC), please stay safe over the next couple of days. ICYMI: The Congolese military reportedly foiled a coup attempt against Congolese president Félix Tshisekedi who won the country’s first-ever presidential elections […]
Read MoreCBN officially withdraws cybersecurity levy
Nigeria’s central bank has withdrawn a controversial 0.5% cybersecurity levy on electronic transfers three days before it was supposed to take effect. The Cybersecurity Act was amended in 2024 and the scope of the levy was extended to cover fintechs, payment service providers and other financial institutions and introduced a 900% increase from 0.005%. “Please […]
Read MoreKenya’s Copia mulls shutdown amid plans to lay off over 1,000 staff
Copia Global, a Kenyan B2C e-commerce startup that has raised $123 million in venture funding across seven rounds, is considering laying off employees or shutting down, citing “uncertainties.” The layoffs, which could affect over 1,000 employees, would be a drastic cost-cutting measure for a company that announced an extension of its Series C round in […]
Read MoreEmpty wallets, empty bellies: Food inflation grips Nigerians
For Olamilekan Kafaru, a bus driver in the Ikorodu area of Lagos, Nigeria, eating three square meals daily is almost impossible. At a dizzying 40.53% increase, food inflation in the country is the highest in nearly three decades, placing more pressure on ordinary citizens who already spend a larger portion of their income on food. […]
Read MoreSpiro secures $50m debt funding from Afreximbank to expand electric vehicles in Africa
Spiro, an India-based electric vehicle company, has signed a $50 million debt financing deal with Afreximbank to expand its offering in its existing markets. The company operates in six countries: Benin, Togo, Kenya, Nigeria, Uganda, and Ghana, and plans to expand to Cameroon, and Morocco this year. The company has spent the past two years […]
Read MoreAfrican CEOs in Kigali push for home-grown solutions to future of digital economy
At least 2000 Africa’s chief executive officers, five heads of state, investors, and media are in Kigali from Thursday to Friday for the African CEO Forum 2024 to find digital-based solutions to the continent’s problems. In terms of attendance and participation, this year’s Africa CEO Forum is the largest since the program began in 2012, […]
Read MoreST Digital to build additional data centres in 3 francophone countries
ST Digital, a Cameroun-based cloud services and infrastructure provider that recently raised €10 million from UHURU Investment Partners, will build three data centres in countries within the Francophone region. It will bring the number of tier III data centres in the company’s portfolio to four. The three additional data centres will be built in Gabon, […]
Read MoreNaspers appoints Fabricio Bloisi as CEO
Naspers, Africa’s largest company by market capitalisation worth R717 billion ($39 billion), has appointed Fabricio Bloisi as CEO. This follows the abrupt resignation of Bob van Dijk in September 2023. Like van Dijk, Bloisi will also serve as the CEO of Prosus, a subsidiary of Naspers whose portfolio companies include Udemy, Stack Overflow, Tencent, SimilarWeb […]
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