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The Africa Stablecoin Consortium (ASC), a coalition of Nigerian banks and fintechs, announced it has postponed the launch of its cNGN stablecoin, originally slated for February 27.
"...We are engaging with the appropriate regulatory bodies, including the Central Bank of Nigeria, to participate in its regulatory sandbox program. Our goal is to showcase the potential benefits of the cNGN ecosystem, providing a secure, transparent, interoperable, and innovative solution for digital asset transactions in Nigeria," the ASC said in a statement.
Kenyan e-commerce platform Badili announced on Wednesday, January 10, the successful completion of a financing round for an undisclosed amount. The deal was spearheaded by venture capital firm E3 Capital. The funds will be utilized to expand into new markets in East Africa.
Yousef Alhusaini, co-founder of the Kuwaiti educational platform Baims, recently announced the acquisition of Egyptian edtech company Orcas Tutoring. The financial details of the transaction were not disclosed. This acquisition allows Baims to extend its reach into Egypt and the United Arab Emirates, and to expand its services. The platform will now offer recorded content, live sessions, and personalized one-on-one tutoring for students ranging from kindergarten to grade 12.
Nigerian fintech startup Cleva has secured $1.5 million in pre-seed funding, Techcrunch reported on Monday, January 8th. The funds will fuel the development of Cleva's financial technology platform and commercial offering, as well as support the company's initial operations. Cleva also announced it secured a spot in the Winter 2024 cohort of Californian accelerator Y Combinator.
Education technology (edtech) startup iSchool from Egypt has closed a $4.5 million funding round, fueling its plans to expand across the Middle East and North Africa (MENA) region. The investment will support the development of its technology platform and drive growth in six key markets.
Côte d’Ivoire’s telecom regulator ARTCI issued a statement on Thursday urging caution to safeguard telecommunications infrastructure during the upcoming Africa Cup of Nations (AFCON) football tournament.
The tournament, running from January 13 to February 11, is expected to attract large crowds and high demand for network services. In that context, ARTCI is calling on the public to avoid damaging crucial equipment, including optical fiber cables, transmission towers, and batteries.
Moroccan telecom operators Itissalat Al-Maghrib, Medi Telecom, and Wana Corporate have joined hands to establish a national Internet Exchange Point (IXP) to revolutionize the country's internet landscape.
The IXP, unveiled through a memorandum of understanding signed at the national telecom regulator ANRT’s headquarters in Rabat, will serve as a central hub for routing and exchanging domestic internet traffic.
Seychelles is set to unveil its digital driving license next year, as revealed by the Seychelles Licensing Authority (SLA) during a recent press briefing. Officials from the SLA disclosed that the initial phase of the digital driving license initiative is currently in progress through the utilization of the SeyID digital identity platform. Motorists are now able to complete their registration online and conveniently acquire their driving licenses directly on their smartphones.
Egyptian health technology startup Chefaa announced, Tuesday, December 19, the successful completion of a $5.25 million funding round. The raised funds are earmarked for various purposes, including the advancement of its technology, broadening its range of offerings, and supporting its growth in Saudi Arabia—a market the startup recently entered.
Ghana will launch a mobile-accessible version of its national ID card next year, announced Moses K. Baiden, CEO of Margins ID Group, the company spearheading the project. The app-based digital card will be equipped with a secure barcode and QR code for seamless verification across various services, including financial transactions.
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Nigerian fintech startup Bujeti has completed a $2 million financing round in a deal led by Californian accelerator Y Combinator, Techcrunch reported on Thursday, December 7. The funds will be used to, among other things, introduce credit lines for small and medium-sized businesses, initiate corporate cards, and enhance its expense management platform.
Nigerian cryptocurrency exchange platform Bitmama has acquired neobank Payday to expand the services of its platform Changera. According to information reported by TechCabal, Bitmama, valued at $30 million, has reportedly offered Payday's investors $1 million in equity and will take over the neobank's customer deposits and debts.
Egyptian proptech startup Partment has expanded into Greece, Disrupt Africa announced yesterday.
"This expansion aligns with our global vision of enhancing people’s well-being through sustainable second home access, making real estate investments affordable and accessible to all," said Nadim Nagui, Partment co-founder and CEO.
Team collaboration startup Cynoia announced last week the successful completion of a €850,000 financing round. The funds will finance the company's expansion in West Africa, mainly in Côte d'Ivoire and Senegal.