Alitheia IDF is a $100 million private equity fund that aims to grow African SMEs through gender-balanced businesses. According to a report from Africa’s The Big Deal, female-led start-ups in Africa had raised 4% funding in 2022, while male-led ventures raised 96%. Therefore, 25 times less funding had been invested in female-led startups in 2022 than their male-led counterparts. Alitheia IDF aims to identify, invest in and grow businesses led by gender-diverse teams to achieve solid financial returns and social impact for African communities. Alitheia IDF The Alitheia IDF invests
Zanifu, a Kenyan fintech company that helps millions of African businesses to access financial services, has raised $11.2 million in debt-equity funding in a pre-Series A round. Zanifu Founded by Steve Biko, the Zanifu platform allows small retailers and businesses in Sub-Saharan Africa to access inventory from their suppliers and pay later. They aim to support micro-, small-, and medium-sized enterprises (MSMEs) by bringing their businesses online while providing them with working capital finance. Biko told TechCrunch that the platform targets businesses that need help accessing credit from formal financial institutions for
Founders Factory Africa (FFA) has raised $114 million in funding to scale its model to better serve founders across the African tech ecosystem. Founders Factory Africa Founders Factory Africa, founded in 2018 by Roo Rogers, Alina Truhina and Sam Sturm, is an African early-stage investor supporting founders across the continent. With a portfolio of over 55 ventures across 11 countries in East, West, North and Southern Africa, they combine capital investment with support for entrepreneurs. They invest up to $250,000 in ventures at idea, pre-Seed and Seed stage for ventures
A new report from the President’s Alliance on Higher Education and Immigration and Shorelight Education has found that students from African nations and the Global South are more likely to have visas rejected. What did the report find? The data from the report was collected through public records requests and found that visa denials to study in the U.S. rose significantly from 2015-2022, especially for Global South countries. African students faced a visa rejection rate of over 50% in 2022, up nearly 10% since 2015. The report stated that in 2015,
Asmelash Teka Hadgu, the visionary behind startup Lesan, is changing the game for language translation, especially for Ethiopian Languages. Acknowledging the limitations of popular translation systems like Google Translate and Facebook, Lesan is on a mission to create language-specific technologies. Translating ‘low-resource’ Languages In an interview with Rest of the World, Hadgu explained that it has become urgent to create language-specific technologies because Google Translate and ChatGPT don’t fit the mark. AI translation models are known to be more accurate for ‘high-resource’ languages like English and Mandarin, and it was recently
A leaked internal document from TikTok revealed that the company is preparing for scrutiny over the treatment of its outsourced content moderators in Kenya. Kenyan Content Moderators Sue Meta Last month, a court in Kenya issued a landmark ruling against Meta, deeming the US tech giant the “true employer” of its outsourced content moderators. Hundreds of content moderators in Nairobi go through posts and images to filter out violence, hate speech, and other disturbing content. This ruling now allows Meta to be sued in Kenya for labor rights violations, despite
Seven months after terminating the contracts of almost all its staff in Accra, Ghana, Twitter has yet to provide its African former employees with severance pay or benefits. What Happened? At the end of last year, Musk laid off employees of Twitter Africa as part of a global cost-cutting measure. The Twitter team in Ghana had just opened their first-ever physical office when the team woke up to find they had been locked out of their emails and work laptops. They were also told over email that their contracts were being
Kenya-based MyDawa, a technology-based service enabling consumers to purchase authentic, high-quality medicine, health, and wellness products, has raised $20 million in funding. They raised money from private equity investor Alta Semper Capital to expand its regional reach and product offerings to become an all-in-one health platform for users. The growth plans will be steered by MyDawa’s new CEO Priscilla Muhiu. “Alta Semper’s ambition matches that of MyDawa, and it brings the drive, connections, and clout to succeed,” co-founder Neil O’Leary told TechCrunch. MyDawa’s Story MyDawa aims to ensure that every
25 innovative African startups have been selected for the third cohort of Google for Startups’ Black Founders Fund. Head of Startup Ecosystem, Sub Saharan Africa, Folarin Aiyebusi wrote, “we’ve seen firsthand how the startups in Africa are embracing the limitless possibilities of tomorrow, and it’s truly inspiring.” Africa’s population is rapidly increasing, with projections indicating that by 2050, one-third of Africans will be under 35. This demographic wave offers many opportunities for startups to cater to a booming market. Now in its third year, the Google for Startups Black Founders
This article was first published by Ruben D Galvan on Medium. Creating Socavon was a deeply meaningful experience for me. It allowed me to create something truly unique while incorporating my roots and passion for storytelling. Play Socavon here <<<<<<<< Socavon A few months back, I listened to the song VOLVIÓ A LATIR — Milena Warthon x Chila Jatun, and a world of opportunity opened up. Milena Warthon and Chila Jatun have created a masterpiece by modernizing iconic sounds from the Andes. The song hits a special chord with me because I grew
