Weekly news roundup with Wasoko & MaxAB and $$ for Workpay, SUKHIBA, Rubyx and Omnisient

?? Gen AI Hype or Reality How are African Startups Building with Generative AI

The session emphasizes the importance of integrating AI into both current operations and future visions, highlighting the value of building in-house AI expertise to stay competitive. Featuring Honey Ogundeyi – Founder & CEO at Edukoya, Dave Evans – CTPO at pawaPay, Stefan Kruger – Vice President Of Engineering at Paystack, Ed Fricker – Director of Platform Engineering at Smile ID and moderated by Kartik Renjen – Head of Startup/VC Biz Dev at Amazon Web Services. Via Africa Tech Summit Watch Now

Wasoko & MaxAB Complete Landmark Merger

African B2B e-commerce pioneers Wasoko and MaxAB have completed the continent’s largest-ever tech merger following the signing of preliminary terms in Q4 2023. Conducted as an all-stock transaction, the deal establishes a truly Pan-African platform for communities to access essential digital and physical goods. Via AppsAfrica Read More

Blended Finance Key to Unlocking Billions for Africa’s Climate Tech Startups

Blended finance, which combines public, private, and philanthropic capital, is a powerful tool in achieving the sustainable development goals, particularly those related to climate action (SDG 13), affordable and clean energy (SDG 7), and industry, innovation, and infrastructure (SDG 9). By leveraging different funding sources, blended finance structures can unlock significant opportunities for scaling climate tech innovations. Via Mail & Guardian Read More

New Venture Capital Signals Resilience in Africa’s Startups

Amidst a backdrop of global economic uncertainty and a notable decline in overall venture capital funding, the African startup ecosystem has seen several significant developments in the first half of 2024. Despite a 57% year-on-year drop in total funding, new venture capital funds and strategic partnerships are emerging to drive innovation and sustainability across the continent. Via TechinAfrica Read More

Malawi Signs €70M Deal for 50 MW Solar Farm

The €70 million investment will cover the construction of the 80-hectare solar farm, which is expected to employ over 100 Malawians during its construction phase. Additionally, the project will sustain 80 jobs at any given time for the next 25 years, ensuring long-term local employment. Via Tech Africa News Read More

Join us on February 12th & 13th, 2025, for a kick ass event where attendees drive business and investment forward together! ??? Hang out with 2000+ innovative startups and savvy investors to mobile operators, fintech wizards, DeFi & crypto pioneers, and industry leaders under one roof. Don’t miss out on the chance to snag the lowest rate tickets before they hit general release. BUY TICKETS TODAY

?? Onboarding Millions of Users Across Africa to Web3

Insights and expert views from the fireside chat with Opera, Mento Labs and Celo looking at the collective effort of Onboarding Millions of Users Across Africa to Web3 featuring Isha Varshney, Head of Strategy and Innovation – Celo Foundation, Tosin Onikosi, Web 3 Product Marketing Lead – Opera, Markus Franke, Co-Founder and CEO – Mento Labs and moderated by Felix Macharia, CEO – Kotani Pay. Via Africa Tech Summit Watch Now

Flutterwave Secures PSO License from Bank of Uganda

Flutterwave has been granted a Payment Systems Operator (PSO) license by the Bank of Uganda license which positions them to significantly impact Uganda’s rapidly growing digital payments space. Via PCTechMag Read More

Africa’s Blockchain Funding Dips, But Adoption Unfazed

Africa’s blockchain industry raised $135.4 million from 17 deals in 2023, with a median deal size of $2 million, a report by Swiss venture capital firm Crypto Valley VC (CV VC) reveals. While this was a massive drop from the year prior, Centbee co-founder Lorien Gamaroff believes that there’s still a vast addressable market for blockchain in Africa. Via Coingeek Read More

Binance Enables Crypto Purchases via Mobile Money in Ghana, Tanzania, Uganda, and Zambia

This development, the company says marks a significant step towards making cryptocurrency transactions more accessible and convenient in these African markets. Via Africa Business Communities Read More

Workpay Raises $5M Series A

Workpay, the cloud-based HR, payroll and benefits platform for organisations with employees across Africa, today announces that it has raised $5m in a Series A funding round led by?Norrsken22. Via AppsAfrica Read More

Kenya-Based SUKHIBA Secures $1.5M Seed Extension to Scale

UKHIBA, an innovative conversational commerce and CRM platform, announced today it has completed a $1.55 million seed extension round led by EQ2 Ventures. Other top-tier investors participating in the round include Accion Venture Lab, Musha Ventures, Quona Capital, and existing investors CRE Ventures. Via AppsAfrica Read More

Proparco Invests in Rubyx to Support African Microfinance Institutions and Startups

Proparco has granted a €400k loan to Rubyx through the Bridge by Digital Africa facility. This will enable the African start-up to roll out more rapidly its new algorithmic loan offering for start-ups and microfinance institutions on the continent. Via AppsAfrica Read More

SA Fintech Startup Omnisient Raises $7.5M Series A Funding

Founded in December 2019, Omnisient is a privacy-preserving data collaboration and insights platform that allows the owners and users of consumer data to collaborate to extract commercial insights without compromising consumer privacy. The technology provides a controlled, secure environment in which data can be analysed. Via Disrupt Africa Read More

timbuktoo HealthTech Startup Accelerator Programme

Are you a visionary HealthTech entrepreneur/innovator with a groundbreaking idea to transform healthcare in Africa and committed to leveraging innovation to contribute towards the Sustainable Development Goals (SDGs)?? Do you have a scalable, defendable solution with clear monetization strategies? Apply now to join the timbuktoo HealthTech Hub. Apply Here

MEST Africa Challenge 2024

This year, contestants for MAC will be based in West Africa with a focus on the following key markets: Benin, Cape Verde, C?te D’Ivoire, Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mauritania, Nigeria, Senegal, Sierra Leone, Mali and Togo. For the first time, MAC will also place a sectoral emphasis on agri-tech, ?recognizing its immense potential to drive sustainable development and economic growth in Africa. Apply Here

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