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Digital

Africa-Focused Travel Tech Startup Raises Six-Figure Seed Funding

Africa-focused travel tech platform, Viatu has raised a reported multi-million rand investment deal from a number of undisclosed investors. The funding received will be utilised for the launch of the new travel platform, focusing on Namibia as its first destination for travellers. In addition, the funds will be used towards the building of a functional and reliable MVP, including the tailoring of trips, the ability or customise trips according to users’ preferences, and instant booking. Read also: Black Friday Tips For Small Business Owners Alfredo Seidemann, Founder and CEO of Viatu comments on the investment. “I’m very excited about where we are. To see so many people support our mission, it’s...

5G Consumer Market To Reach $31 Trillion By 2030

Indications have emerged that the 5G consumer market will grow to $31 trillion by 2030 especially at the rate e-commerce and other Internet of Things are growing. This was contained in a report from Ericsson ConsumerLab called Harnessing the 5G Consumer Potential. The report estimates that communications service providers (CSPs) could earn $3.7 trillion of that total – a figure that could increase further as new adjacent digital services opportunities arise. The report also says that CSPs could generate up to $131 billion by 2030 from digital service revenues alone, by proactively bundling and marketing 5G use cases. About 40% of these revenue projections are attributed to consumer spending on...

Daily Digest Tuesday 24 November 2020

Funding In West Africa Fintech Startup Pass Raises Pre-Seed Round In Its Expansion Plan Pass is a technology company that is improving the online shopping experience by making the process of checking out easy and seamless for online shoppers through its one-click checkout platform. Read more Latest News Absa And Mastercard Partner To Create Access To 50,000 Dignified And Fulfilling Jobs For Young People To leverage digital technology to drive financial inclusion at scale and enable Absa Bank Ghana to provide financial and technical support to scale up promising Fintech start-ups while building their capability to help digitise the MSME space in Ghana. Read more Startups Within The West African Economic And Monetary Union Have New $350k Up For Grabs Until November 30, young entrepreneurs...

Business Reimagined For Africa

Building a business in Africa is now as much about embracing digital innovations as it is about understanding the nuances of each country and what it takes to succeed there. Read also: Africa: Why Digital Payments Are key To Financial Inclusion Long-time strategic partners World Wide Worx, an independent technology research organisation, and CG Consulting, a specialist lead generation and outsourced telemarketing service provider in Africa, have seen a shift take place in the operating environment on the continent. To this end, both organisations believe that the next few years will be critical to driving business expansion here. Roots in connectivity Arthur Goldstuck, founder and managing director of World...

Bank Of Alexandria Secures US$6M From Saudi Arabia To Finance Digital Transformation

EGYPT – Saudi Arabia, through its Saudi Grant Management Committee, has given Bank of Alexandria, one of Egypt’s largest banks, a US$6.4 million grant to finance digital transformation and encourage local crafts programs in the country. Egypt’s Minister of International Cooperation, Rania Al-Mashat, said that the Saudi Grant Management Committee funding for the Bank of Alexandria will strengthen financing mechanisms to support small, medium and micro enterprises, and create job opportunities. Read also: Tech Startup Xend Finance Secures US$1.5M, Launches First DeFi Platform The Saudi Arabia Grant Committee has funded 2,180 projects so far in 27 governorates, creating about 12,000 jobs. Al-Mashat praised the Kingdom’s financial contribution to creating new jobs and achieving the goals of the National Development Agenda 2030. Under people at the core, Al-Mashat asserted...

Daily Digest Monday 16 November 2020

Funding In Africa MultiChoice Acquires 20% Stake In BetKing For US$116m DStv packages include live English soccer, while MultiChoice agreed to a deal with Walt Disney earlier this year to add two ESPN channels showing US pursuits such as basketball. Read more Funding In West Africa Tech Startup Xend Finance Secures US$1.5M, Launches First DeFi Platform In addition, Xend has secured a US$1.5 million investment round from Binance Labs, Google Developers Launchpad, AU21 Capital, Ampifi VC, JUN Capital, TRG Capital, and Matic Co-founder, Sandeep Nailwal. Read more Latest News Ibnsina Pharma Secures 75% Stake In Online Marketplace 3elagi Tech The new partnership will promote the growth of 3elagi Tech, accelerate the startup’s digital transformation, and strengthen its digital footprint while providing people access to...

Tech Startup Xend Finance Secures US$1.5M, Launches First DeFi Platform

NIGERIA – Xend Finance, a tech startup, has launched the first decentralised finance (DeFi) platform that allows users to save and invest in stable currencies in the global market without the need for a traditional middle man in the country. In addition, Xend has secured a US$1.5 million investment round from Binance Labs, Google Developers Launchpad, AU21 Capital, Ampifi VC, JUN Capital, TRG Capital, and Matic Co-founder, Sandeep Nailwal. Read also: South African Fintech Startup FinChatBot Secures $1.6m To Explore Markets In Europe And West Africa In an official press release, Kenzi Wang, Partner at AU21 commends the Xend Finance team for building their network to infiltrate into the finance industry. “Along with Google, we were very impressed with the team...

Daily Digest Friday 13 November 2020

Funding In Emerging Markets South African Fintech Startup FinChatBot Secures $1.6m To Explore Markets In Europe And West Africa On its part, Saviu is an early-stage venture capital firm that invests in post-revenue seedstage B2B startups (mostly logistics and transport) in both francophone and anglophone countries across Africa. Since its founding in 2017, Saviu has made more than 20 investments in 11 portfolio companies, mostly in french-speaking countries. Read more Funding In Southern Africa Tech Group Alviva Holdings To Buy Rival Tarsus For US$11.8m It was reported in mid-October that Alviva was in discussions to buy Tarsus, prompting Alviva to file a regulatory notice to shareholders via the Johannesburg Stock Exchange...

New Report From Google Says Africa’s Internet Economy Would Be Worth $180 Billion By 2025

Yesterday, Google and the International Finance Corporation published a report entitled e-Conomy Africa 2020. It estimates that the economy of the African continent could gain 180 billion dollars by 2025 thanks to two things: greater access to a fast and quality Internet connection, as well as the realization of the African Continental Free Trade Area project. Read also: East African Women’s Health Tech Startup Secures $1-Million “Google and IFC have created this report to highlight the role that the digital startup industry plays and other factors driving the continent’s growth, in order to showcase and support the opportunities that the continent presents,” Nitin Gajria, Google Director for Sub-Saharan...

South African Fintech Startup FinChatBot Secures $1.6m To Explore Markets In Europe And West Africa

It is gradually becoming easy for fintech startups in Africa to make it past $1m in each round of funding. Joining this list is the Johannesburg-based FinChatBot, a creator of conversational artificial intelligence (AI) solutions for the financial services industry. The startup just announced US$1.6 million in new funding round to help it expand into Europe and West Africa. Here Is What You Need To Know This round of funding came from French investment holding company Saviu Ventures, Mauritius-based Compass Venture Capital, and South African venture capital firm Kalon Venture Partners. Compass Venture Capital and Kalon Venture Partners have previously invested in FinChatBot in 2018.FinChatBot will use the funding primarily to grow...

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