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Nigerian startups focused on sustainability and innovation are invited to apply for the Sterling Bank Green Innovation Challenge.
The initiative offers NGN2 million (US$1,200) grants for cleantech and social enterprise ventures and a NGN20 million (US$12.2 million) facility for agriculture businesses.
Applications are open until October 20. Applicants must have operated for at least two years, offer locally developed solutions, and have a scale-up plan.
Zepz, formerly WorldRemit, has secured $267 million to expand across Africa and other key markets. The funding round was led by Accel with participation from Leapfrog, TCV, Coller Capital, and a $20 million investment from the International Financial Corporation (IFC).
Since rebranding in August 2021 after acquiring Sendwave, Zepz has retained both the WorldRemit and Sendwave brands.
The investment will enhance Zepz’s position in Africa’s fintech market, supporting financial inclusion and the growing demand for cross-border transfers.
Akwa Ibom state in Nigeria will host the Akwa Ibom Tech Week (AKTW) 2024 from October 28 to November 2, under the theme "Building a Resilient Innovation Ecosystem."
This year’s event aims to bring together local and global innovators to explore how the state can position itself as Africa’s next tech hub.
Innovate Africa, an early-stage investment fund will headline the event with a $2.5 million venture fund to support promising startups. Attendees will also have the opportunity to engage with Kristin Wilson, Innovate Africa's co-founder, through a series of curated fireside chats, knowledge-sharing sessions, and masterclasses throughout the week.
Payment technology company Flutterwave announced, on September 24, the expansion of its money transfer service, Send App, to 49 states across the United States.
Implemented through a strategic collaboration with American MainStreet Bank, the expansion aims to provide Africans in the Diaspora with a seamless way to send money back home.
The move highlights Flutterwave's commitment to offering secure and efficient banking solutions, compliant with regulatory standards.
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.
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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.