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Uganda's Agent Banking Company (ABC) has received an undisclosed investment from Goodwell Investments, marking the Dutch firm's entry into Uganda’s financial inclusion sector, Goodwell announced September 19.
Through Goodwell’s €150 million uMunthu II Fund, the funding will help ABC expand its client base, increase agent coverage, and introduce new services.
Goodwell’s uMunthu II Fund focuses on early-stage growth companies in financial services, food, agriculture, mobility, and logistics across Africa.
The International Telecommunication Union (ITU) and the United Nations Development Program (UNDP) will host the SDG Digital event on September 20-21 in New York. The event will spotlight digital innovation’s role in advancing the Sustainable Development Goals (SDGs).
SDG Digital will showcase how digital technologies can drive a more sustainable and inclusive future. Leaders from various sectors government, civil society, private industry, youth, and academia will discuss the trends, risks, and opportunities of emerging technologies.
AgDevCo, an African agriculture investor, has secured $32 million from the UK’s Foreign, Commonwealth, and Development Office (FCDO) to launch "AgDevCo Ventures." The new fund, announced September 4, will support early-stage agribusinesses, focusing on investments between $1 million and $3 million to address the "missing middle" often overlooked due to perceived risks.
The venture aims to boost job creation, increase smallholder farmer incomes, and enhance climate resilience. A key focus will be on African and female-owned businesses, managed by a dedicated team based in Nairobi.
International calling app Talk360 has secured $1.4 million (R25 million) in a Pre-Series A round, led by Havaic. The funds will help the company expand its user base to seven million by 2025 and enhance profitability.
Talk360, which connects African migrant communities with their families, aims to strengthen local partnerships, introduce more African languages, and expand its payment platform to external companies across Africa by late 2024.
Tunisian startup Wattnow has closed a multi-million dollar funding round led by Lateral Frontiers and 216 Capital, with support from Outlierz Ventures, Satgana, Octerra Capital, and angel investors like Karim Beguir.
Wattnow provides AI-powered, IoT-based energy management systems to help businesses optimize energy use, cut costs, and reduce emissions.
The company plans to use the new funds to expand globally, enhance its technology, and further sustainability efforts.
The Bank of Uganda has granted Tanzanian fintech NALA an International Money Transfer Operator (IMTO) license, the fintech announced on August 29. This allows NALA to expand its operations in Uganda by integrating directly with mobile money services, offering users a seamless way to transfer funds into local mobile wallets and enhancing the efficiency and security of cross-border payments.
NALA facilitates money transfers from the UK, US, and EU to several African countries, including Uganda. It has collaborated closely with the Bank of Uganda to meet regulatory requirements, contributing to an increase in foreign exchange supply, which is vital for economic growth.
Proparco has provided a €400,000 loan to Rubyx, an African start-up, through the Bridge by Digital Africa facility. This funding will help Rubyx rapidly expand its algorithmic loan offering for start-ups and microfinance institutions across Africa.
The Bridge by Digital Africa facility, backed by Digital Africa and managed by Proparco, offers bridging finance to young African companies to support their growth between funding rounds.
This investment aims to boost access to loan products for African Very Small Enterprises (VSEs) and Small and Medium-sized Enterprises (SMEs), supporting financial inclusion efforts on the continent.
Konga, a leading Nigerian online marketplace, has announced a strategic partnership with Starlink to provide satellite internet services to underserved areas across the country. This collaboration is aimed at bridging the digital divide by delivering reliable, high-speed internet connectivity to regions with limited or no terrestrial internet coverage.
As the only authorized shop-in-shop for Starlink in Nigeria, Konga is enthusiastic about the potential impact of this partnership. Through their partnership, Konga and Starlink are playing a pivotal role in ensuring that all Nigerians can benefit from the transformative power of the internet.
Ghanaian fintech startup PayBox has launched a mobile application that leverages blockchain technology and artificial intelligence (AI) to reduce transaction fees and simplify cross-border payments.
The application, Buddy, offers streamlined financial solutions for small and medium-sized enterprises (SMEs) across more than 23 African countries.
By functioning as both a mobile and decentralized app, Buddy offers a user-friendly interface, empowering users to manage their personal and business finances with ease.
MEST Africa is inviting emerging tech entrepreneurs to participate in the MEST Africa Challenge (MAC) 2024. As Africa’s premier pitch competition, MAC 2024 will focus on agri-tech startups in West Africa.
The winning startup will receive investment capital, coaching, and access to a global network of resources. Applications open on August 26, 2024, and close on October 4, 2024, with virtual semifinals scheduled for October 29-30, 2024.
Eligible startups must have a minimum monthly revenue of $5,000, raised less than $1 million in funding, and have been operating for three years or less. All participants will pitch in English.
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Educational technology company Schoolap, based in the Democratic Republic of Congo, has expanded into Kenya to grow its presence in Anglophone Africa. The move follows its success in Francophone markets, including the Democratic Republic of Congo and Côte d'Ivoire.
The platform, which offers digital curriculum management, interactive learning tools, and performance tracking, aims to address educational gaps and support Kenya's efforts to integrate technology into its education system.
Coding academy CodeNgwana has partnered with the Matlhogonolo Community Outreach Centre to provide coding and computational thinking skills to 700 young learners in Soweto.
The initiative, launching in September, aligns with the Department of Basic Education’s (DBE) new curriculum, which includes coding and robotics for grades R-9.
CodeNgwana aims to make technology education accessible to all African children. The partnership will offer workshops at the Matlhogonolo Centre, focusing on both student programs and teacher training to ensure effective curriculum delivery.
Lucky, an Egyptian fintech startup, has secured a US$3 million in a funding round led by Lorax Capital Partners, KEM, DisrupTech Ventures, and other existing investors.
The newly raised funds will be strategically allocated to expand Lucky's credit services, reinforcing its position as a leading consumer credit fintech in Egypt.
Lucky offers financial flexibility and increased spending power through its lending schemes, discounts, and cashbacks.
Huawei South Africa is inviting tech-savvy women entrepreneurs to apply for its Huawei Women in Tech Digital Skill Training Program. This initiative, offered in partnership with the Department of Communications and Digital Technologies, focuses on enhancing skills in 5G, Cloud, and Artificial Intelligence (AI).
The program aims to empower women by providing advanced training in these critical technology areas. Interested applicants should be available to travel to the Huawei Office Park and Henley Business School Africa in Johannesburg between August 22 to August 28 for the training.