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As cryptocurrency adoption gains steam on the African continent, it will be important for potential investors—and ultimately, regulators—to learn from the scams that have come before. Some high-profile examples of these scams include; back in 2019, Uganda’s Dunamiscoin Resources closed suddenly with $2.7 million in investor money. Dunamiscoin Resources had taken money from more than 4,000 people, promising them returns of 30% returns in 21 days by investing it in bitcoin. The returns never came. Kenya Another is Velox 10 Global, a pyramid scheme with roots in Brazil, in which Kenyans lost

The community-led startup Afropolitan, also known as the company behind “The Year of Return” event in Ghana, has raised $2.1 million (£1.8 million) in pre-seed funding to bring its vision to life, with Srinivasan being one of its investors. The funding round, which saw African-based VC firms Atlantica Ventures and Microtraction participate, also included angel investors Balaji Srinivasan, Elizabeth Yin of Hustle Fund, and Iyinoluwa Aboyeji of Future Africa. Afropolitan, co-founded by Eche Emole and Chika Uwazie in 2016, works to create community-led events for Africans and those in the

Nigerian health tech startup, Healthtracka, has raised $1.5 million in its first official funding stage. The funding round, which was hosted by Africa-focused VC Ingressive Capital and US-based venture fund Hustle Fund, also included Angel investors, Flying Doctors, and Alumni Angel Alliance. Healthtracka, which was co-founded by Victor Amusan and Ifeoluwa Dare-Johnson in May 2021, works with lab partners to help detect early cancer patients. The organization has set up a website that allows people to book lab tests online and get their results back within 48 hours. “As a

Nana Ghartey’s voice assistant software may have started out in his grandmother’s house, but it’s now being used by the thousands of older and visually-impaired people all over Ghana excluded by Western voice technology. How did he get into tech? Ghartey taught himself mobile app development and built desktop applications, websites, and eventually mobile games, none of which were part of his school curriculum, by reading the programming textbooks that an uncle visiting from the US had left behind.  Here’s his story. In 2010, the wealthiest American tech companies had

Last year Google for Startups launched a $2 million grant fund to help tackle the racial inequality in the European tech industry. That Google for Startups Black Founders Fund ended up doubling to $4 million (£3 million), and now 40 Black-led tech startups across Europe will receive grants from the fund. Prior to the fund’s launch in 2021, less than 0.25% of venture capital (VC) funding went to Black-led startups in the UK. How does the fund work? Each startup will be given $100,000 in non-dilutive cash awards, up to

A new report, dubbed “The Inflection Point: Africa’s Digital Economy is Poised to Take Off,” published by Endeavor Nigeria, claims that Africa’s digital economy and tech ecosystem are set to experience exponential growth. New York-based Endeavor is a global community of “high-impact” founders across almost 40 underserved markets in Africa, Asia, Europe, Latin America, and the Middle East. The organization’s report intends to shed more light on Africa’s market dynamics.  Here are a few interesting points from the new report. Digital landscape The estimated size of the continent’s digital economy is $115 billion

If you search ‘migrants’ on Tiktok, you get a host of videos from desperate individuals trying to secretly enter lorries and being caught out to news about the thousands of young men that have lost their lives trying to make the journey. But some TikTok videos and Instagram accounts that aggregated these videos of sea journeys show before and after footage alongside images of the same migrants walking along well-groomed European streets and posing in front of monuments like the Eiffel Tower. These videos may give the impression to some

Uber today announced a significant milestone — it has completed 1 billion rides across all its markets in Africa. This milestone for Uber is coming nearly a decade after the mobility tech company set up shop on the continent in Johannesburg, South Africa.  It has expanded to 30 cities including 21 in South Africa — its most dominant market, four cities each in Kenya and Nigeria, and two in Ghana. “Since entering the market in 2013, we have created over 6 million economic opportunities in over 50 cities across SSA

Adeola Ogunmola Sowemimo is the first Nigerian female to fly the Boeing 787 Dreamliner for Qatar Airways, and she flew the Boeing 767 Aircraft across the Atlantic Ocean. Sowemimo hails from Ogbomoso, in Oyo State Nigeria, and graduated from the Ladoke Akintola University of Technology. After her pilot training, she flew off to Florida in the United States for her standard pilot course. On finishing her training at the age of 21, Sowemimo returned to university in Nigeria to complete her education. Sowemimo joined Medview operations Abuja in 2013 till

A young Nigerian has launched a new social media app known as ‘ShapClick,’ a social media platform that aims to take over Facebook, Twitter, and others. The Nigerian app developer, Mohammed Aliyu, boasted that ShapClick would surpass other social media apps because of the installation of more authentication to protect end-to-end encryption of private chat between users and guarantee safety. A spokesman for Aliyu, Mr. Hyacinth Chiweuba, told Vanguard that ShapClick as an indigenous messaging application would enable users to chat and make audio and video calls, including an unrestricted

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