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Posts Tagged ‘kenya’

Interswitch to revive its Africa venture fund, CEO confirms

Pan-African fintech company Interswitch plans to fire up its corporate venture arm again—according to CEO Mitchell Elegbe—who spoke at TechCrunch Disrupt on Wednesday. The Nigerian founder didn’t offer much new on the Lagos-based firm’s expected IPO, but he did reveal Interswitch will revive investments in African startups. Founded by Elegbe in 2002, Interswitch pioneered the ...

Did African startups raise $496M, $1B or $2B in 2019?

Five years ago, it was hard to come by any numbers for annual VC investment in Africa. These days the challenge is choosing which number to follow. That’s the case for three venture funding studies for Africa that turned up varied results. The numbers and variance Investment stats released by media outlet Disrupt Africa, data-base ...

Kenyan logistics startup Sendy raises $20M round backed by Toyota

Africa’s logistics startup space has gained another multi-million dollar round with global backing. Kenyan company Sendy — with an on-demand platform that connects clients to drivers and vehicles for goods delivery — has raised a $20 million Series B led by Atlantica Ventures. Toyota Tsusho Corporation, a trade and investment arm of Japanese automotive company ...

Kenya hit by worst locust plague in 70 years

A massive locust infestation has migrated from Somalia and Ethiopia into Kenya, reports AP News. The insects are devouring crops in a country already afflicted by widespread hunger. The United Nations warns that coming rains could increase the locust populations by a factor of 500. The most effective way to stave of the infestation ...

Nigeria’s Paga acquires Apposit, confirms Mexico and Ethiopia expansion

Nigerian digital payments startup Paga has acquired Apposit, a software development company based in Ethiopia, for an undisclosed amount. That’s just part of Paga’s news. The Lagos based startup will also launch its payment products in Mexico this year and in Ethiopia imminently, CEO Tayo Oviosu told TechCrunch The moves come a little over a year ...

Boda Boda fashion show: equipping Nairobi motor taxi drivers with outfits to match their glorious bikes

Boda Bodas are the ubiquitous motorbike taxis of Nairobi; Boda Boda drivers are in an arms-race to produce the most elaborately decorated motorbikes in order to differentiate themselves from the competition.

The Ugandan-Kenyan fashion designer Bobbin Case and the photographer Jan Hoek created new fashion looks for seven Boda Boda drivers that matched their bikes, a ...

What we know (and don’t) about Goldman Sachs’ Africa VC investing

Goldman Sachs is investing in African tech companies. The venerable American investment bank and financial services firm has backed startups from Kenya to Nigeria and taken a significant stake in e-commerce venture Jumia, which listed on the NYSE in 2019. Though Goldman declined to comment on its Africa VC activities for this article, the company ...

Jiji raises $21M for its Africa online classifieds business

Pan-African digital classifieds company Jiji has raised $21 million in Series C and C-1 financing from six investors, led by Knuru Capital. The Nigeria based venture, co-founded by Ukrainian entrepreneur Vladimir Mnogoletniy, has an East to West presence that includes Ghana, Uganda, Tanzania, and Kenya. Buyers and sellers in those markets use Jiji to transact ...

Africa Roundup: Nigerian fintech gets $360M, mints unicorn, draws Chinese VC

November 2019 could mark when Nigeria (arguably) became Africa’s unofficial capital for fintech investment and digital finance startups. The month saw $360 million invested in Nigerian focused payment ventures. That is equivalent to roughly one-third of all the startup VC raised for the entire continent in 2018, according to Partech stats. A notable trend-within-the-trend is ...

Samasource raises $14.8M for global AI data biz driven from Africa

AI training data provider Samasource has raised a $14.8 million Series A funding round led by Ridge Ventures. The San Francisco headquartered company delivers Fortune 100 companies with the inputs they need for machine learning development in fields including autonomous transportation, e-commerce and communications and media. And it does so with a global work-force of ...