Southeast Asian investment network XA Network has expanded to the African continent with the launch of XA Africa. XA Africa aims to connect local founders with international investors, offering both capital and mentorship to help scale their ventures globally. Co-founded by Nitin Gajria, former Managing Director of Google Sub-Saharan Africa, Black Angel Group Co-Founder Jason Scott, and YouTube marketing director Marek Dawidowicz, XA Africa brings a wealth of experience to the continent’s entrepreneurial landscape. Their mission is to equip African startups with the resources and expertise needed to solve critical
Venture capital firm Fearless Fund has announced a seven-figure investment in Zimi, an emerging e-commerce platform. Zimi, co-founded by Audrey Djiya and Peter Nsaka, specializes in inventory management, storage, and logistics to help businesses in emerging markets, particularly Africa, expand globally. This latest investment reaffirms Fearless Fund’s continued commitment to supporting underresourced founders, including women of color, following its year-long legal battle with the American Alliance for Equal Rights (AAER) over its grant program for Black women founders. Fearless Fund Backs Zimi Zimi launched in August with the goal of
Brazil’s Supreme Court has lifted its ban on X—formerly known as Twitter—after its owner, Elon Musk, complied with key legal demands. The decision ends a lengthy standoff between Musk and Brazilian authorities. X Returns for Millions of Brazilian Users Brazil is one of X’s largest markets, with an estimated 22 million users. The platform had been suspended in Brazil since August 30 for not blocking accounts that spread false information and failing to appoint a legal representative in Brazil, which is required by law for foreign companies. According to a
AMAKA Studio has successfully raised $2 million in seed funding, led by Equitane Ventures, with contributions from Morgan Stanley Inclusive Ventures Lab, Silverbacks Holdings, and several angel investors. The social publishing platform is on a mission to empower Black and African creators to reach a global audience and earn through subscriptions and gigs. Fueling Growth and Innovation The funds will primarily support the expansion of AMAKA Gigs, a platform that connects Black and African creators with brands for commissioned work, streamlining the process and ensuring fair compensation. AMAKA also plans to
Africa’s push towards digital identity systems—promoted by the World Bank and UN agencies—has largely failed to deliver on its promises of democratization and development. A year-long investigation by Bloomberg and Lighthouse Reports has found that these systems have disproportionately benefited tech vendors instead of the public. The Push For Digital IDs Countries across Africa have implemented biometric data collection to establish national identity registries, aiming to fulfill the UN’s sustainable development goal of providing legal identity for all. However, in Uganda, Mozambique, and the Democratic Republic of Congo (DRC), digital
Propelle, a new investment platform tailored specifically for women, launched on September 25 with an ambitious aim: to close the UK’s gender wealth gap. The platform, founded by 40-year-old Ayesha Ofori, a former Goldman Sachs Executive Director, empowers women to invest confidently and build wealth. Closing The Gender Investment Gap During her six years at Goldman Sachs, Ofori managed over £500 million ($663 million) in client assets and saw firsthand how the investment world primarily benefited the wealthy—and predominantly men. With the UK’s gender investment gap currently standing at £1.65
A new R300-million ($15.6 million) Seed Fund of Funds has been launched to provide crucial early-stage capital for South African tech startups. This initiative, backed by the SA SME Fund, the Department of Science and Innovation (DSI), the Technology Innovation Agency (TIA), and impact investor E Squared Investments, aims to fund at least 50 technology-driven startups. The fund seeks to address a gap in South Africa’s venture capital landscape, which has historically favored later-stage investments. By focusing on seed capital, it will help budding entrepreneurs transition their ideas into viable
OpenAI recently launched an advanced voice mode for ChatGPT, enabling users to hold natural, real-time conversations in a wide range of languages and dialects. Clips of the chatbot speaking in Jamaican Patois, Nigerian Pidgin, and Trinidadian creole have taken the internet by storm, impressing some users while leaving others skeptical. A Voice Feature with Global Reach OpenAI began introducing its voice feature earlier this year, but its latest update brings a richer and faster audio experience to premium subscribers. This enhanced voice mode, launched in late September 2024, not only
The first-ever NBA Africa Triple-Double Accelerator Demo Day has crowned four African startups as champions. The event, held in New York City at the NBA headquarters, saw four standout companies—Festival Coins, Salubata, HustleSasa, and UBR VR—win financial awards and mentorship opportunities to help scale their businesses. Top Startups Rise from Over 700 Applicants The NBA Africa Triple-Double Accelerator, launched in April 2024, aims to fuel growth for African startups operating in sports and creative industries. By providing capital, mentorship, and connections, the initiative supports early-stage companies that focus on event
Kenya’s Court of Appeal ruled that Meta, the parent company of Facebook, can be sued in Kenya for labor disputes involving outsourced content moderators, according to The Kenyan Wall Street. The ruling marks a major step in a long-standing case where Meta sought to avoid legal responsibility for its operations in Kenya. The court dismissed Meta’s appeal, which argued that Kenya’s Employment and Labour Relations Court lacked jurisdiction to sue a foreign company like Meta. How Did We Get Here? The case centers around Daniel Motaung, a South African whistleblower,
