LeapFrog Investments, a private equity firm with a focus on impact-driven investments, has closed its fourth fund, raising $1.15 billion to fuel financial services and healthcare in emerging markets. The milestone includes $808 million in primary commitments and $210 million allocated for co-investments. This fund aims to reach millions of underserved consumers in Africa and Asia with transformative services. Expanding the Reach of Impact Investing The Fund IV investor lineup includes leading global institutions like Temasek, Prudential Financial, and AIA, alongside development finance powerhouses such as the European Investment Bank
Google’s Black Founders Fund (BFF) has helped startups across Africa and Europe raise $379 million in funding and create over 6,000 jobs collectively. This marks a turning point for Black-led startups, which have historically faced limited access to capital and support, attracting less than 1% of global venture capital. Non-Dilutive Funding Accelerates Growth Established in 2020, the BFF addresses systemic racial inequities in venture capital. The program offers equity-free funding, mentorship, and resources tailored to Black entrepreneurs. So far, over 220 African startups have benefited, with their growth rates surpassing
Techstars-backed edtech startup Lingawa has raised $1.1 million in pre-seed funding to expand its mission of promoting African languages. Formerly known as TopSet, the company has pivoted from academic tutoring to African language learning, starting with Yoruba and Igbo. This pivot aims to address the growing demand for preserving indigenous languages among Africans and the diaspora. Tackling Language Extinction With Tech Africa is home to over 2,000 languages, but approximately 12% are at risk of extinction, with colonialism and globalization cited as key contributors. Lingawa’s mission aligns with efforts to
African entrepreneurs are deeply committed to their startups, but the cost of this passion often impacts their mental health, a new report from Flourish Ventures reveals. The study, which surveyed over 160 founders across 13 African nations, found that more than 80% experience mental health challenges, with anxiety (60%), stress (58%), exhaustion (52%), and depression (20%) being the most common issues. Key Challenges Affecting Founders External pressures like fundraising, inflation, and economic instability weigh heavily on entrepreneurs. Nearly 60% of respondents said raising funds is their biggest stressor, followed by
November is Native American Heritage Month, a time to celebrate the rich traditions, cultures, and contributions of Native American communities across the United States. In tech, Native Americans are making groundbreaking strides, breaking barriers, and inspiring future generations. Here we shine a spotlight on five trailblazers who are redefining success. Aaron Yazzie: Developing Tools for Mars Exploration As a mechanical engineer at NASA’s Jet Propulsion Laboratory, Aaron Yazzie, a Diné (Navajo) Nation member, designs critical systems for space missions. His work on the Mars Perseverance Rover, particularly the drill bits
Google has unveiled the latest cohort startups selected for its Google for Startups Accelerator: Africa program. The six Black-led South African startups were announced at an event coinciding with this year’s Africa Tech Festival, which was held in Cape Town, South Africa. Google for Startups Accelerator: Africa The three-month hybrid accelerator program supports Seed to Series A technology startups led by at least one Black founder. This opportunity includes ZAR1 million ($50,000) in non-dilutive funding, up to ZAR3.6 million ($200,000) in Google Cloud credits, and access to mentorship and industry networks. By
Visa has announced investments in four African fintech startups that recently graduated from its Africa Fintech Accelerator program. While Visa did not disclose specific investment amounts, the initiative reflects its ongoing efforts to drive financial inclusion and support digital innovation in Africa. Supporting Fintech Innovation Across Africa The four startups—Oze, Workpay, OkHi, and ORDA—each offer digital solutions tailored to address key financial and logistical challenges in African markets. By backing these companies, Visa is betting on a diverse range of technologies to enhance access to financial services for small businesses,
Kenya’s Communications Authority (CA) has directed telecom operators to suspend access to Telegram during specific hours, aiming to prevent students from sharing answers during national exams. The move follows Kenya’s ongoing efforts to curb exam-related misconduct using encrypted messaging platforms, with CA pointing to Telegram’s lack of full cooperation in its regulatory requests. Why Is Telegram Targeted? Telegram, which has over a billion users worldwide, has become a tool for communication in Kenya, thanks to its encryption and ability to host large chat groups. However, the CA argues that this
Google has added 15 African languages to its Voice Search, Gboard’s talk-to-type, and Translate dictation, bringing online access to around 300 million more Africans. The newly supported languages include Yoruba, Hausa, Igbo, Nigerian Pidgin, Chichewa, Kikuyu, Oromo, Rundi, Shona, Somali, Tigrinya, and Twi, allowing more people to interact with Google services in their native languages. More Languages on Voice and Gboard With this update, Google Voice Search and Gboard talk-to-type now support 12 more African languages, raising the total to 25. Google Translate has also added voice input for 13
Moniepoint, a Nigeria-based fintech company, has successfully raised $110 million in a Series C funding round. This raise gives the company a valuation of at least $1 billion for the first time, according to the Financial Times. The financing was led by Development Partners International’s African Development Partners III (ADP III) fund, with participation from investors such as Google’s Africa Investment Fund, Verod Capital, and Lightrock. Strategic Focus on Business Banking and Financial Access Founded in 2015 by Tosin Eniolorunda and Felix Ike, Moniepoint originally launched as TeamApt. The company
