Brief (859)
At the BimaLab Africa Insurtech Summit, held on Wednesday, November 26 and Thursday, November 27 in Nairobi, FSD Africa announced the creation of the Inclusive Insurtech Investment Fund. This $30 million venture capital fund is dedicated to supporting early-stage African insurance technology (insurtech) startups. Building on the BimaLab program, this funding vehicle will back solutions designed to improve the accessibility, affordability, and relevance of insurance, particularly in the areas of climate, health, and financial inclusion for underserved populations.
Nigerian entrepreneur Kayode Aladesuyi’s company, MYai Robotics, has unveiled Curation AI, a system that verifies articles, images, videos, audio and social media posts in seconds while also tracking public opinion in real time. Developed by a mostly Nigerian team, the tool is designed to curb misinformation by enabling the public, media outlets and institutions to quickly verify digital content.
Twelve Kenyan startups – including LeadNow by Dignitas, Cloud School System, Elimu Shop, iFunza, M-Lugha Technologies, Nyansapo AI, Zydii and Digifunzi– have completed the third cohort of the Mastercard Foundation EdTech Fellowship. During the six-month program, they received support to refine their solutions and expand the rollout of digital tools that promote inclusive education.
Nigeria’s Task Systems Limited has won the Microsoft Partner of the Year Award, beating more than 4,000 candidates from over 100 countries. The award highlights decades of expertise in deploying digital solutions for major African enterprises and reinforces Task Systems’ position as a key driver of digital transformation on the continent.
Proparco is investing in Kenyan e-mobility startup BasiGo, which assembles electric buses locally and finances them through a pay-as-you-drive model. The funding will help the company expand its operations in Kenya and Rwanda, strengthen its charging network, and move closer to its goal of deploying 1,000 buses.
South Africa’s Competition Tribunal has approved Lesaka Technologies’ acquisition of digital-only bank Bank Zero for about $63.8 million. The deal still requires sign-off from prudential regulators. The acquisition will enable Lesaka to strengthen its financial services platform, expand its digital banking offering, and fund its growth more effectively through customer deposits.
OceanHub Africa has opened applications for the seventh edition of its 12-month acceleration program, which will support up to twenty-four African impact startups focused on ocean preservation.
Selected startups will receive a mix of in-person and remote support, access to an international network of experts, investors, and customers, and various service and software benefits. Applications are open until December 30.
The Gabon chapter of the Congo Digital Economy Summit (Codes Africa) will host a regional meeting on cooperation, interoperability, and digital sovereignty in Central Africa on Thursday, December 4, at the Radisson Blu in Libreville.
The event, backed by the Association of Central African Telecommunications Regulators and consulting firm Deloitte, will bring together public- and private-sector leaders to discuss key digital issues.
Applications are now open for the tenth cohort of the develoPPP Ventures program, aimed at Kenyan startups that already generate revenue. Selected companies can receive up to €100,000 (about $113,000) in non-dilutive financing, along with technical support, to accelerate their growth and increase their social, economic or environmental impact in the region.
The Nigerian startup Konnadex has received a $20,000 grant from the Lisk protocol to accelerate the development of its stablecoin payment portal for merchants. The platform offers on-chain invoicing, payment links and automated reconciliation to streamline cryptocurrency settlements. The funding strengthens the company’s market credibility but remains only an early step toward scaling.
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M-KOPA Kenya, a subsidiary of M-KOPA Holdings, said it has extended $1.6 billion in credit to customers in the country, largely through smartphone financing. The company says it has reached 4.8 million customers over fifteen years, making it a major source of credit for low-income households.
Seedstars is partnering with the SANAD Fund to launch the SANAD Elevate Her program, which targets women-led startups in Africa and the Middle East. Forty startups will receive tailored support, investment-readiness coaching, and access to networks designed to promote job creation and strengthen economic resilience. Applications are open until Wednesday, November 26.
Egyptian startup Bluworks, which specializes in digitizing workforce management for field employees, has raised $1 million in seed funding to accelerate its growth in Egypt and expand across the Middle East and North Africa (MENA). The funding will support platform enhancements, the integration of advanced analytics and artificial intelligence (AI), and a stronger focus on small and medium-sized enterprises (SMEs).
African startups under five years old can now apply to the Harvard New Venture Competition, which will award up to $55,000 in prizes at the Africa Business Conference in Boston on March 27-28, 2026. The top 30 applicants will also receive mentorship from MBA student consultants. Applications are open now.