UNDP and Africa Launch $1B Timbuktoo Fund for Startups, Egypt is Developing a CBDC, Access Bank Acquires 80% Stake in Ugandan Bank, and More
Africa Fintech Summit
The global initiative dedicated to building an ecosystem of investors, pioneers, industry leaders in African Fintech.
What's inside?
? Egypt is working on a CBDC
? $1B Timbuktoo launches in Kigali
? Access Bank is acquiring a Ugandan bank
? Vodafone & Microsoft pen partnership
AND MORE!
Making the news
Egypt is working to launch e-pound CBDC by 2030?
"According to reports from the Egyptian press, the e-pound, which will basically be the Central Bank of Egypt (CBE) digital currency, is expected to boost the competitiveness of Egypt’s national currency and enhance the efficiency of monetary policy." Continue reading.?
Cleantech and Fintech startups leading the surge for debt funding in Africa's startup ecosystem?
"According to Briter Bridges’ latest report, titled Debt Financing in Africa’s Innovation Ecosystem, there has been a surge in debt financing, especially in the cleantech and fintech sectors, indicating a shift in funding trends. In the past decade, digital, technology-enabled, and green companies across the continent have secured over $2 billion in disclosed debt funding from 140 funders through more than 200 deals, making up approximately 10% of the total funding during this period." Continue reading.?
Banking & Telecom Activity
Startup Activity
Egypt - Logistics startup Bosta raises undisclosed investment to accelerate its growth and advance its logistics and delivery services in Egypt and Saudi Arabia
Egypt - HealthTech startup Yodawy acquired (minority stake) by Ezdehar for $10M to help support expanding customer base and automated prescription fulfillment?
Kenya - CleanTech startup KOKO raises undisclosed funding from Rand Merchant Bank to strengthen its network of Fuel ATMS to help replace charcoal use in Kenya?
Nigeria - Fintech startup Canza raises $2.3M funding round to support the development of its DeFi products?
South Africa - Fintech startup Ukheshe fully acquires EFTCorp as the companies intend to continue operations separately under their own brands?
Investor Activity
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Some other tech news...
Featured Article
How Timbuktoo, the UNDP-backed $1B innovation fund will work - Abraham Augustine in TechCabal
"Timbuktoo will provide financing for accelerators and venture builders from the $350 million, including investments of up to $800 million in venture firms in 8 African countries alongside private partners... The fund will be managed from Rwanda, a boon to Kigali’s financial centre Ambitions." Continue reading.?
AFTS partners in the news
Yellow Card and Coinbase partner to expand access to digital assets in Africa?
"Yellow Card, the largest and only licensed Stablecoin on/off ramp on the African continent, and Coinbase, the leading U.S. cryptocurrency exchange, have partnered to expand and simplify access to USDC and digital assets in Africa." Continue reading.?
AFTS in the headlines
Is fintech the one true ecosystem vertical? African PreSeed Podcast LIVE @ AFTSLusaka
"On the 2nd of November, the African Pre-seed podcast partnered with the Africa FinTech Summit in Lusaka, Zambia, to host the first-ever edition of APS Live, where our host, Hope Ditlhakanyane had Investor at?Flourish Ventures,?Efayomi Carr, Founder of?scale,?Miranda Perumal, and Founder and Chairman of?Blockchain Association of Kenya (BAK),?Michael Kimani?on the couch in front of a live audience to discuss whether fintech is indeed the one true vertical within the African tech ecosystem." Listen to the episode now!?
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