Uncap has launched Unconventional Capital, a €30 million fund dedicated to providing non-dilutive, revenue-based financing to early-stage small and medium-sized enterprises (SMEs) across Africa. This new fund is a significant step forward in Uncap’s mission to support high-potential businesses driving economic growth in critical sectors such as agriculture, trade, logistics, climate resilience, and financial inclusion. Unconventional Capital will collaborate with key partners, including SAIS, an ag-tech initiative funded by the German Federal Ministry for Economic Cooperation & Development (BMZ) and implemented by GIZ (Deutsche Gesellschaft für Internationale Zusammenarbeit GmbH), as well as O-Farms, a circular agriculture program run by Bopinc…
Author: James Musoba
Studying Africa's startup and technology scene. I always look forward to discovering new exciting inventions and vibrant entrepreneurs.
The rapid advancement of artificial intelligence (AI) is transforming industries and redefining how we approach investing. For those new to the investment world, understanding how to leverage the AI revolution can open up new opportunities for growth and financial success. This guide aims to provide a comprehensive overview for beginners looking to capitalize on the AI boom, offering insights into the technology, its impact on investing, and strategies for smart investment in this evolving field. Understanding Artificial Intelligence Artificial intelligence encompasses a range of technologies designed to simulate human intelligence and decision-making processes. At its core, AI includes concepts such…
M-KOPA, a Nairobi-based fintech firm has been slapped with a Ksh 885.87 million fine in taxes by the Kenya Revenue Authority (KRA) after it assessed M-KOPA’s tax obligations, including withholding tax and Pay As You Earn (PAYE), from 2017 to 2019. According to the tax tribunal, M-Kopa is based in Kenya as its effective management operations are based in Kenya, not the United Kingdom where it also registered. Founded in 2011 in Nairobi, Kenya, M-Kopa started as an under $20 pay-as-you-go solar systems firm to its present Pay Later and financial services firm providing micro-loans, electronics and house appliances on…
Gozem, Togo’s Super App, is set to launch Gozem Money, its new Mobile Money service in partnership with NSIA Banque to expand its offerings and strengthen its ecosystem with innovative fintech products, while providing users with a seamless experience in an integrated and secure environment. Starting from the fourth quarter of 2024, Gozem customers in Togo will be able to use the Gozem wallet for various financial transactions, including paying bills, making purchases both within and outside the Gozem ecosystem, transferring money to other users, and efficiently managing their personal finances. For Jean-Martial Moulaud, COO and Group Director of Gozem,…
Transsion Holdings, the parent firm of TECNO, Infinix and Itel smartphone brands in Africa has announced that its CFO, Xia Yonghui, was detained on the evening of September 6, 2024, by the local authorities in Dandong City’s Zhen’an District in China. Xiao Yonghui has been working at Transsion since January 2014. He used to work in Jiangxi Qingjiang Chemical Plant and Ningbo Bird Co., Ltd. Transsion Holdings, with over 40% market share of Africa’s smartphone market said the CFO, who has been at the company for a decade, was detained as part of a broader investigation into the company’s corporate…
Mawingu, a rural-focused Internet Service Provider (ISP), has announced the expansion of its network to Mandera county, bringing the number of counties to 30 that the ISP has connected to its network across the country. According to Mawingu’s Chief Executive Officer, Mr. Farouk RAMJI, “Mawingu marks yet another milestone towards our long-term vision of making meaningful connectivity accessible to more Kenyans at very competitive price points, comparative to other service providers, by building sustainable, flexible infrastructure in underserved regions.” Mawingu has also enhanced its network coverage in Garissa County with an investment in fibre delivery infrastructure. The ISP will be…
Soramitsu and the Nigerian Institute of Social and Economic Research (NISER) have entered into a strategic partnership for the promotion of blockchain technology research, capacity building and application in Nigeria. Soramitsu is an award-winning global technology company delivering blockchain-based solutions for enterprises, universities, and governments. Utilising blockchain technology, Soramitsu developed the Bakong CBDC along with the National Bank of Cambodia, a CBDC Proof-of-Concept with the Bank of the Lao PDR and with the Central Bank of Solomon Islands, a closed-loop payment system for the University of Aizu in Japan, an identity verification system prototype for Bank Central Asia in Indonesia.…
Kyocera Corporation has established a $100 million corporate venture capital (CVC) fund, the Kyocera Venture Fund-I LP (KVF-I), which will invest mainly in start-ups in the U.S. and EMEA to strengthen Kyocera’s system for creating new businesses. Today’s KVF-I $60 million, joins Kyocera Venture Innovation Fund-I(KVIF-I), $40 million fund which Kyocera announced in March 2024 as a CVC fund investing mainly in Japan and Asia. Together, the two funds expand Kyocera’s global venture capital funding portfolio to approximately U.S. $100 million. The fund will be opearting for 10 years and will invest between $200K-$2 million for less than 20% seed…
TYRESE HASPIL, 25, has been sentenced to 40 years-to-life in state prison for the brutal 2020 murder of his former boss, 33-year-old tech Gokada CEO Fahim Saleh, after stealing hundreds of thousands of dollars from his company, Gokada. Haspil is also required to pay full restitution back to Gokada after he was convicted on June 24, 2024 by a New York State Supreme Court jury on one count of Murder in the First Degree, two counts of Grand Larceny in the Second Degree, one count of Burglary in the Second Degree, among other charges. Gokada is a mobility startup based in…
Visa has awarded Safaricom Plc., a payment facilitator certificate in a move expected to empower Safaricom’s merchant ecosystem by diversifying payment acceptance modes through the introduction of card payments that support all card networks via Visa’s CyberSource Payment Gateway. This initiative is part of the continuing multi-year partnership, which began with the successful launch of the M-PESA GlobalPay Virtual Visa Card in June 2022. By leveraging Visa’s advanced payment technologies, Safaricom merchants will have access to and offer a broader range of payment options, enhancing their ability to serve customers efficiently and securely. “We are thrilled to present the Payment…
GoGettaz Agripreneur Prize Competition 2024 has named Moroccan Fatima El Khou, founder and Head of Research and Innovation at Jafife, and Ghanaian Dr Iddi Mohammed Faried, co-founder and CEO of Kodu Technology as winners of this year’s competition. The grand prize winners each received USD $50,000 to scale their businesses. Jafife aims to revolutionize agri-food supply chain in Morocco with digitalized solar-powered technology that transforms crops and seafood into long-lasting dried food products while Ghana’s Kodu Technology transforms banana and plantain fibers into eco-friendly sanitary pads for women, addressing health and hygiene challenges. According to Strive Masiyiwa, Founder and Chairman of…
NBA Africa has announced the 10 startup companies from seven African countries selected to pitch their products to a panel of international industry leaders at a Demo Day at the NBA headquarters in New York City on September 25 2024. The 10 are part of “Triple-Double: NBA Africa Startup Accelerator,” which the league launched in April 2024 to support Africa’s technology ecosystem and the next generation of African entrepreneurs. Out of the 10, NBA will select four winning startups to be awarded financial support and mentorship. The four prize-winning startups will be announced at Demo Day. “We have been inspired…
Prodigy Finance, a global higher education finance company, has launched a $30 million Blended Finance programme in collaboration with The Standard Bank of South Africa Limited and Allan & Gill Gray Philanthropies to maximise the provision of international education loans, combining a grant from Allan & Gill Gray Philanthropies and senior financing from Standard Bank. According to the firm, for every $1 of capital donated by the philanthropies, $4 of capital will be provided to students by banks. This efficient method supports significantly more students than traditional scholarships, aiming for substantial social impact while delivering financial returns to the bank.…
FSDAi Nyala Facility BV, a facility set up by FSD Africa Investments to invest in emerging local capital providers is injecting US$1 million into Africa-based specialist VC fund First Circle Capital. Run by former entrepreneurs and fintech executives Selma Ribica and Agnes Aistleitner Kisuule, First Circle invests in early -stage fintechs in focused on insurance, financial infrastructure and climate tech and fintech Software as a Service (SAAS), Reg Tech and Alternative Lending Model firms. The team has built a portfolio of 13 investments so far in these areas, across 7 African markets. Announcing FSDAi Nyala Facility’s investment, FSDAi’s Chief Investment…
Talk360, the international calling app that connects with reliable and affordable calls to any landline or mobile phone, has raised $1.4 million to drive the company’s goal of connecting seven million people by 2025 while strengthening its journey towards long-term profitability. The Pre-Series A funding round was led by Talk360’s long-standing investor, Havaic at a $30 million+ valuation. Havaic contributed $1 million while the additional $400,000 from other investors to localise into more African languages and set up more local and global partnerships with remittance companies, retailers, and brands. In 2022, Talk360 raised $7 million through two seed funding rounds,…
Send App by Flutterwave, a remittance service owned by the Nigerian payment technology company, has launched its remittance services in Malawi allowing customers to facilitate faster, easier, and more affordable cross-border money transfers into Malawi on both mobile apps and web devices. Flutterwave recently acquired International Money Transfer Operators (IMTO) license from the Reserve Bank of Malawi, with this launch, Malawi residents and diasporan communities across the UK, US, and Europe are able to send money to any of the banks in the country through Send App. Flutterwave is also better positioned to support Malawians who want to receive money…
PlayStation®5 Pro has finally been launched by Sony and will be available on November 7, 2024, at a recommended retail price (RRP) of $699.99 or £699.99 and €799.99. The PlayStation 5 Pro features a 2TB solid state drive and includes a DualSense wireless controller. PS5 Pro will also launch with the latest wireless technology, Wi-Fi 7, in territories supporting this standard. PlayStation 5 Pro new features include an Upgraded GPU with 67 percent more Compute Units than the current PS5 console and 28 percent faster memory. Advanced Ray Tracing that provides more dynamic reflection and refraction of light at more…
T-Mobile has announced that it successfully sent and received – for the first time ever in the U.S. – a wireless emergency alert (WEA) via Starlink’s satellite. The T-Mobile Starlink satellite-to-smartphone technology is expected to bring critical emergency alerts to 500,000+ square miles of land currently unreachable with earth-based cell towers and will be open even for Verizon, AT&T and other wireless provider customers. “This is one of those days, as the CEO of a wireless company, that makes me pause for a moment and reflect on how technology advancements and the work we’re doing is truly impacting life and…
BasiGo and Tata International Limited have launched the first pilot test of Indian electric bus models using Tata Motors electric buses in Africa in Nairobi, Kenya where electric mobility firm BasiGo has had previous successful launches. BasiGo and Tata will test two of Tata Motor’s electric buses in PSV Operations in Kenya, the first-ever test of Indian electric bus technology in the African market. The firms will test the 36-passenger Tata E-Buses which boast a 250 km driving range and will be operated by OMA Services and East Shuttle on key Nairobi routes. “BasiGo is always looking for the best…
Paymob, Egypt’s payments firm has raised $22 million Series B extension round, taking the company’s total Series B funding to $72 million for its MENA growth and expansion. The funding was led by EBRD Venture Capital with participation from Endeavor Catalyst. Existing investors PayPal Ventures, BII, FMO, A15, Nclude and Helios Digital Ventures participated in the round. In a statement, Islam Shawky, co-founder and CEO of Paymob, said, “This funding will help Paymob fully capitalise on the momentum in our established markets as we accelerate our GCC roll-out. We remain committed to creating a cutting-edge infrastructure enabling SMEs across the…
Entlaq, an entrepreneurship platform has acquired a stake in “Brotinni,” the Egyptian foodtech startup to promote innovation and support technological advancements in the food sector. Entlaq aims to expand brotinni’s dark butchers’ technology and smart food technology solutions within Egypt and open new horizons in regional markets across the Middle East due to its expertise in business development and acceleration to reach a broader market, particularly in the meat and poultry sectors. “Local food and grocery delivery sector has seen tremendous growth over the past few years; however, the raw meat delivery segment has not really gained adequate attention. Through…
Hisa, a Kenyan investment startup founded by Kenya Wall Street’s Eric Asuma and Eric Jackson has been acquired by Rise, a Nigerian stock investment startup, TechCabal reports. Hisa, which will remain independent after acquisition, is building the infrastructure to allow everyday Africans to easily invest in both local and global assets including stocks, ETFs, bonds and alternative investments just like its new owner Rise. Hisa argues that less than 1% of the adult population in Sub-Saharan Africa invests in the capital markets and its mission is to make that possible through simplified investment products and educational content. “We like the…
In today’s fast-paced world, many people struggle to find a good night’s rest. Sleep aids, such as Delta 8 Gummies for sleep, are gaining popularity as alternatives to traditional sleep medications. This article explores the benefits of Delta 8 Sleep Gummies compared to other sleep aids, examining what makes them unique and whether they truly work best for restful slumber. We’ll dive into personal experiences, scientific backing, and practical advice on finding the right solution for better sleep. Key Takeaways Delta 8 Gummies for Sleep: A Gentle Alternative The growing interest in Delta 8 products stems from their unique properties.…
GSMA Board has appointed Vivek Badrinath as Director General and Member of the GSMA Board effective 1st April 2025 after Mats Granryd stepped down on 4th June 2024. Granryd will remain as Director General until the end of March 2025 and then take on a new role of Special Advisor to the Board for the remainder of 2025. “I am delighted to announce Vivek Badrinath’s appointment.” said José María Álvarez-Pallete López, Chairman of the GSMA. “During our selection process it was clear that Vivek’s deep understanding of the industry and its potential make him the ideal individual to lead the…
Autochek Kenya, an auto marketplace has partnered with Turaco, a tech-enabled insurance solutions provier to offer Autocheck’s clients comprehensive motor insurance with flexible monthly payments, making the insurance cost for car owners in Kenya significantly more attainable. The car financing market in Kenya has seen substantial growth, with a 15% annual increase in vehicle loans and a 10% rise in vehicle imports. Autochek and Turaco will offer a bundled service that integrates vehicle financing, insurance, tracking, and maintenance, all under one digital platform. According to Autochek’s Country Manager, Henry Mbugua: “We are thrilled to collaborate with Turaco to offer our…
iPhone 16 lineup has been announced by Apple and it comes with faster, more efficient A18 and A18 Pro chips developed using Arm’s newest V9 AI chip design. iOS 18 will be released on 16 September, while the new smartphones will be released on 20 September, but pre-orders begin on 13 September. The iPhone 16 and iPhone 16 Plus come with improved battery life, expanded display sizes and slimmer bezels with rear cameras designed to shoot Spatial Photos. The iPhone 16 and iPhone 16 Plus are available in 6.1-inch and 6.7-inch display sizes and feature a 48 MP Fusion camera…
AgDevCo is very pleased to announce £25m ($32,688,625m)of funding from the Foreign, Commonwealth, and Development Office (FCDO) to establish AgDevCo Ventures, a new investment strategy in the group. AgDevCo Ventures will make smaller investments 980,730 – 3,269,075 million early-stage agri-SMEs and with the aim of building the next generation of African agribusinesses. Initially, the fund will invest in East African countries where AgDevCo is already present (including Kenya, Uganda, Tanzania, Rwanda) then expand to other countries and regions. According to AgDevCo CEO, Daniel Hulls:“We are very grateful for the continued support from the UK government. This funding will allow us…
FlapKap, an Abu Dhabi fintech platform has today raised $34 million pre-Series A equity round led by BECO Capital with new investment from Pact VC and follow-on investment from A15, Nclude, and QED Investors. Debt financing was from Channel Capital bringing the firm’s total funding to $37.6M. With this funding, FlapKap will expand in the UAE and GCC region and launch trade finance products exclusively designed for SMEs businesses that had limited access to traditional bank loans. According to Ahmad Coucha, FlapKap CEO and Co-founder, “This investment will support our continued growth in the UAE and Egypt and further our…
TLcom Capital, one of Africa’s largest venture capital firms, has officially announced its 6th edition of the Africa Tech Female Founder Summit, which will be held on Tuesday 15th October 2024 in Nairobi, Kenya. The Summit – Africa’s largest gathering of women tech entrepreneurs – has now opened applications for participants. Themed “Transformative Leadership: Redefining Success in Tech”, the 2024 Africa Tech Female Founder Summit is designed to unite, inspire, and empower female founders across Africa, offering a platform to learn from each other and establish supportive networks. The theme will also emphasise the importance of transformative leadership and strategic…
ASUS Zenbook S 14 (UX5406), a 14-inch ultraportable, premium laptop boasting a thin 1.1 cm profile and a feather-light 1.2 kg weight and the first to be powered by the Series 2 processors, has been launched by the firm at its Always Incredible Media Day for IFA 2024 in Berlin, Germany. ASUS Zenbook S 14 is part of ASUS’s next-generation ASUS Copilot+ PCs release equipped with the latest Intel® Core™ Ultra processors (Series 2), for great AI experiences. The laptops are powered by the latest Intel® Core™ Ultra 9 processors, achieving up to 48 NPU TOPS. ASUS Zenbook S 14…