South Africa-based startup accelerator Founders Factory Africa has officially rebranded as 54 Collective, marking its transition to a venture capital (VC) firm. $150 Million To Support African Startups The rebranding comes after four years of accelerating African startups, during which the organization built a reputation for creating innovation across the continent, according to Empower Africa. Now, with a $40 million fund, 54 Collective is set to invest in early-stage ventures across various sectors. “Today, we are a VC firm with a $40 million fund, and when combined with our $107
TikTok has initiated significant global layoffs that have now impacted its African team, according to Tech Cabal. This move, part of broader organizational changes, saw several employees in Africa lose their jobs in June 2024, following earlier cuts in March. These layoffs have notably affected teams working in content operations, marketing, and trust and safety. African Team Severely Affected The layoffs in Africa have been particularly harsh, with more than half of the African team based in South Africa and Nigeria, being let go. Although the exact number of employees
Medium, an online publishing platform, is broadening its Partner Program to include writers from over 70 new countries, including over 20 African countries. Medium’s Partner Program Expands Medium’s Partner Program allows writers to earn revenue based on the engagement and activity their stories generate from Medium members. The expansion is part of Medium’s ongoing effort to support writers globally, with the program now extending to over 115 countries where Stripe is supported. The newly included African countries are Algeria, Angola, Benin, Botswana, Côte d’Ivoire, Egypt, Ethiopia, Gabon, Gambia, Ghana, Kenya, Madagascar,
Idris Elba has been allocated land in Zanzibar, a Tanzanian archipelago, to establish a film studio. The British actor, with roots in Sierra Leone and Ghana, has announced several ambitious projects to highlight Africa’s potential on a global scale. These include a film studio in Ghana and a smart eco-city in Sierra Leone. Expanding the African Film Industry with New Studios Elba’s investments are particularly focused on tourism and entertainment, areas he believes can significantly boost the continent’s economic growth. One of his most significant projects is the development of
African Infrastructure Investment Managers (AIIM) has successfully closed its fourth pan-African infrastructure fund, African Infrastructure Investment Fund 4 (AIIF4). The fund reached its hard cap with $748 million in commitments and an additional $206 million in co-investments, totaling $954 million. “Given the challenging global fundraising environment, we are delighted to have outperformed the targeted fund size,” said Paul Frankish, AIIM’s Head of Strategic Initiatives according to Shoppe Black. “We received strong support from our existing investor base with a high level of re-ups from the supporters of our previous mandates
UK-based Tech1M has secured $750,000 in pre-seed funding in a boost for the human resources (HR) technology sector. The round was led by SFC Capital, known for its recent backing of 4D Medicine and VoltShare, and Techstars. The funding also saw participation from Tech Nation, Barclays Eagle Labs, HSBC Innovation Banking, ICE Network, Vantage, 1000 Black Voices, Foundervine, and GrowLondon Global. Innovating Recruitment with AI Tech1M, founded by Tommie Edwards and Damilola Ogunmoye, is set to transform the talent acquisition landscape with its AI technology. As an alumnus of the
UK government officials have criticized Elon Musk, owner of social media platform X (formerly known as Twitter), for commenting, “civil war is inevitable” under a video of violent, far-right attacks in England. Musk’s Posts Ignite Political Reactions Hundreds have been arrested during a wave of racist, Islamophobic, and anti-immigrant violence sparked by the disinformation surrounding the murder of three young girls last Monday. False claims that the murder suspect was a Muslim asylum seeker led violent right-wing mobs to attack mosques and set fire to hotels housing asylum seekers across
Four students from Pinelands High School in Cape Town, South Africa are facing disciplinary hearings after a video depicting a mock “slave auction” went viral on social media, according to the BBC. The video, which shows Black students being auctioned off while others bid for them, has prompted outrage and an official investigation by the South African Human Rights Commission (SAHRC). Incident Details and Investigation The footage, reportedly filmed by Grade 8 students, shows Black pupils inside a cage while other students shout bids. This incident has drawn significant public
Google for Startups Accelerator Africa has revealed its 8th cohort, featuring ten startups from Kenya, Nigeria, Rwanda, and South Africa. These ventures are using AI to address significant issues in healthcare, cargo mobility, energy solutions, and beyond. Pioneering Innovation Across Africa Africa’s tech ecosystem is described as a hub of creativity and problem-solving, driven by startups tackling both local and global challenges with exceptional ingenuity. Since its launch in 2018, the Google for Startups Accelerator Africa program has been important in supporting the continent’s startup landscape. The program has now
Mangosuthu University of Technology (MUT) in Durban South Africa, has made history by appointing Prof. Nokuthula Sibiya as its first female vice-chancellor. A Collective Victory for Women Professor Sibiya began her education at Tholisu and Sawela Primary Schools and continued at Velabahleke and Vukuzakhe High Schools in Umlazi Township. She pursued higher education at the University of Zululand, where she earned a degree in nursing. Furthering her studies, she obtained a Doctor of Technology in Nursing from the Durban University of Technology. As a C-rated researcher – an established researcher
