Weekly news roundup including TerraPay, Starlink, Smile ID and gaming market to be worth $1 billion

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The African gaming market will be worth $1 billion by 2024?

African gaming is projected to be worth about $1 billion, according to data from research firm Newzoo. In 2022, games sold in the region generated $862.8 million in revenue, up 8.7% YoY. Via Benjamin Dada Read More

Money Africa Wins $25,000 in NSIA Innovation Prize

Subscription-based financial edtech platform, Money Africa, won the star prize of $25,000 at the maiden edition of Nigeria Sovereign Investment Authority’s (NSIA) Innovation Programme. The agency rewarded 10 Nigerian innovators with the sum of $60,000 and equity investments in its Prize for Innovation programme. Via BusinessPost Read More

How Nigeria’s Quantum Analytics is providing “tech education as a service”?

Quantum Analytics NG allows users to register and view available courses across a variety of subjects, which can then be paid for online to access a live training platform.Beginning life with a team of two and US$100, the startup now has 20 people working across four countries. Via Disrupt Africa Read More

Vtabu, the virtual library launched in Kenya to cultivate a reading culture

The much anticipated Kenya’s first virtual library worth Sh250 million, containing over 200,000 digitised books, periodicals, research papers and government publications has been launched at Maktaba Kuu premises in Nairobi. Via Techmoran Read More

Starlink picks Karibu Connect as its authorized reseller

Starlink, the satellite internet company owned by Elon Musk has gone live in Kenya. The company had hinted about this launch back in January and even ahead to open pre-orders for its hardware. The company has now picked Karibu Connect, a provider of internet connectivity solutions in East Africa as its first authorized reseller in Kenya. Africa Business Communities ?Read More

New Look; Smile Identity Becomes Smile ID

Smile Identity, Africa’s leading identity verification and digital Know Your Customer (KYC) provider, has reached a significant milestone, surpassing 75 million identity verifications. Alongside this achievement, the company is embarking on a new chapter by rebranding itself as Smile ID. The Kenyan Wall Street?Read More

TerraPay partners with M-PESA

TerraPay, a global payments infrastructure company has announced its partnership with Safaricom, Kenya’s telecommunications, IT and financial services provider. Together, both companies will usher in the benefits of financial inclusion by facilitating instant borderless payments. Via Africa Money & DeFi News Read more

EXNESS expands its Fintech Scholarships program to Kenya

Multi-asset broker Exness is extending its popular Fintech Scholarships program to Kenya in partnership with the United States International University (USIU).The program aims to support outstanding university students in the STEM field in Kenya. Via AppsAfrica Read more

EMTECH releases Web3 enabled Central Banking Digital Currency Innovation Kit

EMTECH , a Modern Central Banking Infrastructure provider has announced the public release of its CBDC Innovation Kit for fintechs and financial service providers looking to test new fintech solutions and business models with Central Bank Digital Currency. Via Tech Nova ?Read More

How Egypt’s fintech ecosystem is finding its pace and dragging banks along

In 2017 there were 32 financial technology companies in Egypt—including but not limited to payments providers. By 2022, the number of technology companies that offered fintech services had increased five-fold to 177. A new report published by the Central Bank of Egypt sheds light on what has influenced this growth. Via Techcabal Read More

African crypto exchange, Bundle Africa shuts down operations to focus on P2P payments

After three years of operation, Bundle Africa is closing its doors to users. The company wants to focus on Cashlink, its P2P payment network, to meet the payment needs of the growing Web3 and blockchain community. It also revealed that in Bundle's three years, it had amassed 50,000 monthly active users, 3 million transactions, and $50 million monthly volume. Via Techpoint Africa Read More

Building the future of Web3 in Africa

Watch the panel discussion from Africa Tech Summit Nairobi on building the community and future of Web3 across the Continent. With expert insights from Metaversal, Mercy Corps Ventures, NGENI, Bitget, Fonbnk and moderated by Sarah Idahosa – Founder and Chief Executive Officer from Women in DeFi. Via Africa Tech Summit Watch here

Nigeria’s MyCover.ai to scale its open insurance API platform with new funding

MyCover.ai, the insurtech startup building Africa’s digital insurance infrastructure, has announced the close of a $1.25 million pre-seed funding round, today, led by Ventures Platform. The round included participation from Founders Factory Africa and TechStars. Via Africa Money DeFi Summit Read More

Egyptian fintech Flash raises $6m seed round

Flash, Egypt’s new cashless payments app, has raised $6 million seed round to accelerate its product development and customer and business acquisition in the country. The round was led by Addition with participation from fintech venture capital firm Flourish Ventures and other strategic angel investors. Via AppsAfrica Read More

Kasha raises $21M Series B

Starting in Rwanda, Kasha raised $1.5 million in seed funding from angel and impact investors. In late 2020, after expansion into Kenya, Kasha secured a $3.6 million Series A from Finnfund, Swedfund, DFC and Mastercard Corporate. Knife Capital led this recent Series B. Via TechCrunch Read More

Applications open for the Visa Africa Fintech Accelerator Program

Startups up to Series A stage are encouraged to apply for a chance to gain unparalleled expertise, valuable industry connections, cutting-edge technology, and potential investment funding. Applications will close on August 25th and the first cohort will be announced in September. Read More

FAST Accelerator Programme

Artificial intelligence (AI) company, Flapmax and Microsoft have launched the second FAST Accelerator program. The programme is designed to support and fund the next generation of innovative companies and entrepreneurs throughout the African continent. Startup leaders are encouraged to apply to FAST Accelerator this July. Read More

AWS Global Fintech Accelerator

Amazon Web Services (AWS) is launching its first Global Fintech Accelerator, giving fintech founders the support and mentorship they need to bring smarter financial services solutions to the market by leveraging the power of AI/ML and the cloud. Applications for the AWS Global Fintech Accelerator are now open. Read More

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