BeSocial, a short-form video app that empowers Black and African creators, is carving out a space in the tech landscape. The platform aims to combine short-form content, the practicality of social shopping, and social commerce. BeSocial Founded in 2022 by Kwesi Buabeng, a former executive at Ecobank, Google, and Coinbase, and his team, BeSocial’s vision is democratizing content creation. The focus on Black and African creators is a move acknowledging their role as trendsetters in social media, often without adequate recognition or compensation. Since its beta launch, BeSocial has been a hub of creativity and
Uber Technologies Inc. is set to invest in Nigerian startup Moove in a funding round that could reach up to $100 million, Bloomberg reports. Moove Founded in Lagos in 2020 by British-born Nigerian entrepreneurs Ladi Delano and Jide Odunsi, Moove has expanded its reach beyond its origins. The duo’s aim is to build the world’s largest integrated vehicle financing platform for mobility entrepreneurs. With its headquarters in Amsterdam, the company now operates across Africa, the UK, the UAE, and India. Moove’s innovative business model revolves around a unique credit-scoring system,
Showmax, a South African company, has surpassed Netflix to become the leading streaming platform in Africa. With a subscriber count of 2.1 million in Africa as of November 2023, surpassing Netflix’s 1.8 million, Showmax’s rise signifies a significant change in the region’s media consumption habits. Showmax Showmax is an online subscription video-on-demand service that launched in South Africa in August 2015. Its majority owner is MultiChoice, which owns 70% of the Showmax group, while NBCUniversal owns 30% in all territories except Nigeria. The platform’s content strategy, which focuses heavily on
Partech, a global technology investment firm, has closed its second Africa-focused fund, Partech Africa, at over €280 million ($300 million). Partech Africa The achievement surpasses its initial target of €230 million, marking Partech Africa as the largest fund dedicated to African startups. Partech Africa partners with entrepreneurs who combine technology and operational excellence to address large opportunities across the continent. The African startup landscape experienced a downturn in investment activities in 2023, with venture capital inflows decreasing to between $2.9 billion and $4.1 billion. This contrasted the $4.6 billion to
In the Black Network (ITBN) has launched ITBN Africa, featuring 70 hours of programming committed to highlighting the creative voices that represent African cultures. ITBN is an AVOD streaming service that highlights Black voices and original stories that are culturally significant and relatable to all audiences. Viewers can access multi-genre content from Black creators, including sports, music, scripted, drama, talk, kids, and family or feature films. ITBN Africa ITBN Africa started on February 5th and expanded its library of titles by adding additional independent TV series, films, and documentaries. The collection
Seedstars Africa Ventures fund has received a $30 million capital commitment from EIB Global, an arm of the European Investment Bank. To launch the fund, the VC firm’s partners Maxime Bouan, Tamim El Zein, and Bruce Nsereko Lule teamed up with the Seedstars Group, tapping its infrastructure and market access in Africa. Seedstars Africa Ventures is an early-stage venture capital fund investing in high-growth companies active across Sub-Saharan Africa. Through initial funding of $8 million from the fund’s anchor investor, French private equity firm LBO France, the VC firm has already invested in four
Kenyan President William Ruto has announced that Meta has agreed to monetize content in Kenya, benefitting the country’s creators. Following a year-long negotiation with the Kenyan government, Facebook and Instagram content creators will begin earning from these Meta platforms. Paying Kenyan Content Creators The President revealed that Meta had run a pilot program with eligible Kenyan content creators. “I have good news for our creatives and those who imagine and produce content through Facebook and Instagram,” Ruto said during the Jamhuri Day celebrations at Uhuru Gardens in Nairobi. “Just yesterday, Meta committed
Ghana’s telco regulator has issued a warning against the sale and operation of Starlink, Elon Musk’s satellite internet service. Starlink has yet to obtain a license or type approval in the West African country, but citizens appear to be purchasing kits through intermediaries. Starlink in Ghana Starlink is an internet satellite constellation operated by American aerospace company SpaceX, providing coverage to over 60 countries. Spearheaded by Elon Musk, Starlink is a network of satellites that promises to provide high-speed, low-cost internet access to remote and underserved areas. Although SpaceX only
Albantsho, the first screenwriting tool created by African screenwriters for African screenwriters, has launched its first feature – The Scriptwriter. Albantsho Julie Ako and Nikita Mokgware from Nigeria and Botswana founded Albantsho in 2020. Their goal is to showcase the potential of African storytelling, foster authentic content representative of Africa, and empower creatives. With growing global investment in motion pictures in Africa, a higher demand is placed on authentic stories from diverse voices. Albantsho is a movement, and they’ve charged themselves with finding bold new narratives of Africa by Africans
Shekel Mobility, a B2B marketplace and management system for auto dealers, has secured over $7 million in funding, comprising $3.2 million in equity and over $4 million in debt. Small and medium-scale dealerships comprise nearly 82% of the African car dealership market, according to Benjamindada.com. Many of these dealers struggle with offering affordable prices for used cars due to insufficient financing options. In most sub-Saharan Africa, the figure for automotive transactions is less than 2%. Shekel Mobility aims to change that. Shekel Mobility Shekel Mobility empowers auto dealerships to realize
