Fintech Association of South Africa Launches in Cape Town, Egypt's Cartona Raises $12M, FrontEnd Ventures To Back Kenyan Startups, and more
Africa Fintech Summit
The global initiative dedicated to building an ecosystem of investors, pioneers, industry leaders in African Fintech.
What's inside?
? New report?shows Africa has 5 out of 10 highest price for mobile data globally
? Egypt's Cartona raises $12M USD Series A
? FrontEnd Ventures announces new fund to back Kenyan impact-driven startups
? Fintech Association of South Africa hosts launch event in Cape Town
AND MORE!
Making the news
New report shows that 5 of the 10 most expensive countries for mobile data are in Sub-Saharan Africa?
The Worldwide Mobile Pricing 2022 report researches the average price of mobile data across over 200 countries and territories. In its recent report, 5 of the 10 most expensive markets for mobile data are in Sub-Saharan Africa: Sao Tome and Principe (~$29/GB), Botswana (~$16/GB), Togo (~$13/GB), Seychelles ($13/GB), and Namibia (~$11/GB).?Learn more.?
Startup & Funding Activity
?Egypt?- eCommerce startup,?The Fashion Kingdom, raises $2.6M USD?to accelerate growth, develop its team, and build scalable technology
?Egypt?- B2B eCommerce startup,?Cartona, raises $12M USD?Series A funding to expand market share and continue growth trajectory
?Nigeria?- NFT marketplace startup,?Hashgreed, raises $1M USD?to expand NFT marketplace designed for individuals and businesses?
?South Africa?- NFC-enabled smartphone startup,?Qwili, raises $1.2M USD?seed funding to make strategic hires and hardware production?
Investor Activity
领英推荐
Featured Articles
Central Bank of Kenya push finally breaks telco's grip on lucrative mobile money business - Otiayo Guguyu in Nation?
"Safaricom has changed tune and has not only agreed on a path to split the company, but it has also ceded to demands to share merchants and agents with rivals. Safaricom chief executive officer Peter Ndegwa said the company is preparing for a split that will see it form a holding company to house connectivity, mobile money, tower, and the Ethiopian businesses as subsidiaries."?Continue reading.?
Quote of the Week
"Digital transformation means you must be willing to challenge the status quo... The transformation journey occurs across multiple dimensions - it is not just about tech or collaborating with fintechs. It's about shifting the culture of the institution, reimagining the customer journey, restructuring internal processes, and lastly its about changing the rules and challenging the mindset."?
Mohamed El Sabban?(Chief Innovation & Strategic Development Officer, Misr Capital)?
AFTS partners in the news
AFTSCapeTown2022 partner, Fintech Association of South Africa, officially launches initiative in Cape Town last week?
"The event, which was held at The Bungalow, Clifton was well attended by top fintechs and movers and shakers in the sector. Among those represented were Tim Masela of the South African Reserve Bank, and representatives of the Payments Association of South Africa (Pasa), PayU, Thumbsup Innovations, Bettr app and Cash Pesa, to name but a few."?Learn more.?
AFTSDC2022 speaker, Eunice Ajim, discusses the path that led her to VC and yields advice to entrepreneurs looking for a co-founder
"Seeing several startups building exciting solutions for the African continent, Ajim decided to exit OpenTeams to start Ajim Capital. In January 2022, the firm announced its first fund of $10 million to invest in pre-seed and seed stage companies across the continent. According to Ajim, the firm intends to invest in 40 to 50 companies over the next two years... Although she is keen to get more Africans to invest in startups, she explained that a lot of work is required to educate Africans on the merits of the VC asset class."?Continue reading.?
AFTS in the headlines
AFTS attends the launch event for Fintech Association of South Africa?
Last week, AFTS co-Founder Zekarias Amsalu attended the?Fintech Association of South Africa (FINASA)?launch in Cape Town. FINASA's mission is "to nurture and empower the?thriving FinTech ecosystem that acts as a?catalyst?in the development of South Africa’s financial services industry to accelerate socio-economic growth... This will be achieved via fairness, inclusion, diversity and equality across the eco-system." During his time at the launch, Zekarias made an important announcement - more information on this next week!