Pan-African payment orchestration platform, HoneyCoin, has raised $4.9 million in a seed round led by Flourish Ventures. Other investors included Visa and TLcom, Stellar Development Foundation, Lava, and more, according to a press release shared with POCIT. The Nairobi-based startup tackles inefficiencies in global financial infrastructure, particularly for businesses in pre-emerging markets. It gives businesses a unified, stablecoin-compatible platform for collections, treasury management, settlements, and FX management. By building a stablecoin-based liquidity engine and bypassing fragmented rails, HoneyCoin gives businesses instant or same-day settlements, compared to the traditional four to seven-business-day timeframe. David Nandwa
Mastercard released a whitepaper highlighting Africa’s readiness, opportunity, and roadmap for responsible artificial intelligence (AI) adoption. Harnessing the transformative power of AI in Africa shares insights into how AI can unlock significant outcomes across the continent’s major industries, including agriculture, healthcare, education, energy, and finance. The whitepaper also details the potential positive impact of AI on digital infrastructure, policy and governance, research and development, local language processing, and investment into Africa. Additionally, it examined how AI can create more jobs, with up to 230 million digital jobs projected by 2030 on
The Nigerian melon seed, Egusi, made history by becoming the first West African crop and the first object from Nigeria to reach space. The seeds, which are initially from Oyo State in southwest Nigeria, launched aboard SpaceX Crew-11 as part of a NASA-backed research mission to the International Space Station, according to BBC Africa. The trip was led by 2021 Forbes Africa 30 Under 30 honoree Dr. Temidayo Oniosun. The project explores how culturally significant crops, such as Egyptian cotton and Pakistani wheat, behave in microgravity. Taking Egusi to space
Chowdeck, a food delivery startup based in Lagos, has raised $9 million in Series A funding. The equity round was led by Novastar Ventures, with participation from Y Combinator, AAIC Investment, Rebel Fund, GFR Fund, Kaleo, HoaQ, and others. The fund will help the company expand in more cities in Nigeria and Ghana and roll out a quick commerce strategy aimed at speeding up grocery and local market deliveries, according to Business Insider Africa. “We’re thrilled about this round as it brings us closer to our vision of becoming Africa’s
Airtel Africa Foundation has announced the launch of its ‘Tech For Her’ Program, an initiative giving young women across Zambia, Uganda, and Kenya skills in tech. The philanthropic arm of Airtel Africa plc will help women gain the necessary knowledge to thrive in industries such as Linux Administration, Cybersecurity, and Data Analytics. Those eligible to take part in the program will complete over 100 hours of intensive training through a flexible learning model that includes weekend classes for working professionals and weekday sessions for non-working participants. The initiative aligns with
IFC, a member of the World Bank Group, and Proparco, a member of the World Bank Group, announced an equity investment of up to $50 million in Helios Sports and Entertainment (“HSEG”), an investment vehicle dedicated to sport, media and entertainment across Africa. HSEG aims to foster a more dynamic sport and entertainment ecosystem in Africa by collaborating with its four partners: NBA Africa, The Malachite Group (Afro Nation), PFL Africa, and Zaria Group. IFC and Proparco invest in African sport The IFC commited $30 million of the equity investment,
Kava, a Nollywood streaming platform, is set to launch in August 2025 with over 30 Nollywood titles. The platform is a partnership between Inkblot Studios and Filmhouse Group, according to Deadline. “Kava is more than a streaming service. It’s a bold new chapter for Nollywood, designed to meet the growing demand for premium, authentic African content and to redefine how the world experiences our stories,” Kava Co-CEO Chinaza Onuzo said. “By giving both rising and establishing talent a trusted, lucrative stage to tell their stories, we’re building a platform that doesn’t
Google will invest $37 million across Africa to expand artificial intelligence developments on the continent. A majority of the funds will be allocated to enhance food security and expand digital access in local languages, with $25 million being invested in an AI Collaborative for Food Security. This initiative will help African researchers and nonprofits create AI tools that tackle hunger, climate-related crop threats, and farming inefficiencies, according to TechPoint Africa. The program aims to safeguard millions of smallholder farmers against damaging economic and environmental shocks by leveraging AI in early
The Digital Law Company has applied to hold Meta Platforms in contempt of court after it did not provide data on individuals who posted harmful content about South African school children on WhatsApp. If Meta does not comply with the order to release the alleged perpetrators’ data, the law firm wants the judge to jail Thabo Makenete, Meta’s public policy head for Southern Africa. This came after the Digital Law Company received an urgent court order, urging Meta to remove explicit content and share identifying details, such as names, emails,
Nigerian open banking startup Okra will return three years of runway to investors, as reported by Techpoint. The company was founded in 2019 to build APIs helping people securely access their bank accounts from third-party apps. However, the company shut down following the departure of its CEO, Fara Ashiru. Okra still had three years of runway before it would return to its investors. Ashiru did not disclose the amount that would be returned, and Okra has not provided the exact amount that would be returned to investors; however, Techpoint estimated
