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
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
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
To increase AI representation in Africa, DeepMind partnered with The African Institute for Mathematical Sciences to launch a new AI for Science Masters program in Africa. DeepMind, a cutting-edge AI company compromised of scientists, engineers, and researchers, is committed to using science to help benefit humanity. The AI company believes an essential part of the program’s development will be its expansion to different countries. To achieve this, DeepMind has launched a scholarship program to ensure AI technologies are built to benefit everyone. The scholarship program will provide talented students from
25-year-old inventor, Roy Allela, is using his passion for modern technology to change lives – literally. The tech enthusiast and data science tutor at Oxford University has invented smart gloves called Sign-IO to make communicating with the deaf community effortless. Despite over 300 sign languages being spoken by 70 million people worldwide, only a tiny proportion of people worldwide understand them. This lack of understanding has created a barrier between the deaf community and the rest of the world. Allela was inspired to create the gloves after experiencing first-hand how
Fintech companies in Nigeria are rapidly growing. In Q1 last year, funding for African startups hit a new record, with approximately 89% of all funding allocated to fintech startups in the region. Nigeria is one of many African countries working to make financial services accessible to everyone. As smartphone users grow and digital IDs become the norm – all eyes are on fintech startups to pave the way for financial inclusion in Nigeria. Nigeria’s mission to achieve financial inclusion A quick Google search will tell you that there are at least 150 fintech
South African startup Carry1st has raised $27 million in latest funding round to tap into the gaming industry in Africa. Carry1st’s funding round The funding round, led by gaming-focused VC firm BITKRFT Ventures, also included VC Andreessen Horowitz (a16z), TTV Capital, Lateral Capital, Alumni Ventures, and Kepple Ventures. The investment will help Carry1st create a steady financial infrastructure to prepare for Africa’s fast-paced gaming space. “We’re delighted to partner with BITKRAFT, one of the world’s top gaming VC firms, alongside a16z and other existing investors as we continue on our
Nigerian filmmaker and artist Malik Afegbua is challenging the misconceptions around African beauty, especially within the older generation. Artificial Intelligence has grown to become a trendy part of internet culture today. Despite being a controversial tech tool, one scroll through your internet feed will show you how many people are gearing toward an AI world. Malik Afegbua’s fashion show which displayed photos of elegant old-fashioned seniors in the chicest African attire, took the internet by storm. The series of images, called Fashion Show for Seniors, has garnered over 100,000
If you don’t know Nelly Cheboi yet, now is the time to start doing your research. Nelly Cheboi, the founder of Kenyan recycling company, TechLit Africa, has been named CNN’s Hero Of The Year for her revolutionary work across Africa. Who is Nelly Cheboi? Nelly Cheboi, who grew up in a poor rural village in Kenya, redistributes recycled technology to rebuild computer labs in African schools. At a very young age, Cheboi was exposed to the struggles of poverty. Yet, despite having no computer access, Cheboi landed a scholarship to study computer
Africa is the dumping ground for 85% of the planet’s e-waste – a situation likely to get worse as Apple prepares to switch iPhone lightning ports to USB-C ports. The E-Waste Issue In Africa E-waste is becoming a prominent issue in Africa because old goods are exported from high-income countries to low-income countries. In addition, as fewer regulations are being enforced in Africa, it is easy for discarded electronic items to find their way into the continent. Discarded chargers generate more than 11,000 tons of e-waste each year, and according
