Weekly news roundup including DPO Pay, Boomplay + TikTok, Flutterwave and PharmaRun takes home the Pitch2Win top spot!

Last month saw a sold out Africa Tech Summit in London hosted at The London Stock Exchange. Connecting 300 delegates from 200 companies and 29 countries at an event packed with networking, sessions and meetings. Pictures from ATS London can be found HERE .?Next stop is Africa Money & DeFi Summit in Accra, the lowest pre-register rates are now live - sign up today to get your access link before they go on general release PRE-REGISTER

These tech startups are giving Africa’s growing beauty industry a makeover?

Tech startups are revolutionizing the booming cosmetics industry through innovative technologies and platforms, offering convenience, access, and personalized experiences to consumers. From virtual try-on tools and AI-powered diagnostics to AR-enabled product demonstrations, beauty tech innovations are reshaping the way beauty brands sell, grow, and engage with customers. Via Ventures Africa Read More

Top 5 African cities with the best startup ecosystems in 2023

The tech startup scene in sub-Saharan Africa has experienced significant growth, making the region a hub of innovation. Based on The Global Startup Ecosystem Report 2023 (GSER 2023), this highlights the top five African cities with thriving startup ecosystems. These cities have shown remarkable achievements in funding, deal count, and sector-specific advancements, attracting entrepreneurs and investors alike. Via Business Insider Africa Read More

PHARMARUN wins the $10,000 grand prize at Pitch2Win Competition

The online platform offering pharmaceutical products and services, including BNPL options, emerged as the victorious startup in the highly competitive 2023 Pitch2Win competition held in Lagos. Co-founded in 2021 PharmaRun aims to address the challenges faced by traditional pharmacies, such as frequent stock shortages that compel customers to settle for undesired alternatives. ?Via TechNext Read More

Egypt overtakes Nigeria in start-up capital as Africa tech funding slows

Egypt led in the total equity funding raised by start-ups in Africa from June 2022 to June 2023, toppling Nigeria, according to data released by an industry group. The North African country surpassed Nigeria - the continent's largest economy - as entrepreneurs raised $540 from June 2022 to July 2023, the African Private Equity and Venture Capital Association (AVCA) said in a report.?Via Zawya Read More

Kenya withdraws 30% shareholding rule for Big Tech

The Kenyan government has reversed its 30% shareholding rule that was imposed on Big Tech and other multinational companies in the country. Starting June 2016, foreign companies registering in Kenya were required to cede at least 30% of their shareholding to persons who are Kenyan citizens by birth. Via Benjamin Dada Read More

Boomplay and TikTok are collaborating to amplify African music

The global rise of Afrobeats, one of Africa's most prominent cultural exports, has continued to captivate audiences worldwide. A recent report by music streaming service, Spotify showed that the Afrobeat genre was streamed over 13 billion streams in 2022 alone, compared to just 2 billion in 2017. Via Techloy Read More

The Bank of Tanzania grants license to DPO Pay by Network Pay

DPO Pay has been operating successfully throughout Africa since 2006 and was recently acquired by Network International a leading enabler of digital commerce across the Middle East and Africa (MEA) region. The payments provider has worked closely with regulators across the continent to obtain new licenses as requirements vary in each country to ensure secure and uninterrupted services for its merchants and partners. Via AppsAfrica Read more

Flutterwave Launches Tuition to Ease Education Fee Payments for Africans

Flutterwave, Africa’s leading payments technology company, has launched Tuition, a new payment product, to allow African users to conveniently pay various fees to educational institutions within Africa and overseas using their local currencies. The educational institutions available on Tuition include high schools, universities, colleges and some global edutech platforms. Via AppsAfrica Read More

Revolutionizing Fiat Payments: How Stablecoins Empower Africa

Stablecoins, a sort of cryptocurrency meant to maintain a stable value, have received a lot of interest because of its potential to revolutionize financial institutions all around the world. Stablecoins offer a possible alternative in places where traditional currency payments meet issues, such as Africa and South America. Via Finance Magnets Read More

AZA Finance launches new payout corridors to empower businesses in emerging markets

AZA Finance, an African fintech company, is a global leader specialising in providing secure and efficient financial infrastructure for payments, foreign exchange, and treasury services. The company recently announced the continued diversification of its global offering by expanding into new corridors in key strategic frontier markets. Via Via AZA Finance Read more

Egyptian fintech startup Exits MENA tops up pre-seed round to $1.25m

Exits MENA, a fintech investment banking marketplace, has extended its seed round to US$1.25 million with investment from Silicon Valley-based venture firm Practical VC. Founded in 2022 Exits MENA aims to facilitate M&As and investments in companies by offering a seamless and fully integrated online solution on its platform and a full-fledged financial advisory service. Via Disrupt Africa Read More

The Ecobank Fintech Challenge 2023

The Ecobank Fintech Challenge identifies and partners Fintechs that are ready to scale and provides them with support and access to opportunities in Ecobank’s 35 African markets. The goal? To contribute to their growth as potential Pan African Fintech success stories.?Read More

Startup Wise Guys - SaaS Accelerator Program: Africa

Startup Wise Guys SaaS acceleration Africa program will provide an optimized approach that delivers tailored guidance and support from world class mentors and experts. Our accelerator program will help you navigate the bumps in the company building road, revolutionize your go-to-market strategy and encourage you to bring your A game. Read More

EmpowHER Pitching Den: North West

The last call for female entrepreneurs to enter to pitch their business in 2023 on the EmpowHER stage! The final 3 attend the 20th annual Standard Bank Top Women Awards in Johannesburg in November.?Read More

Follow us on our social channels for the most up to date news from the ecosystem and the latest on our event series

Twitter | LinkedIn | Instagram | YouTube | Podcast | Facebook