Categories africa

22 posts

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Japanese VC Samurai Incubate closes $18.6M fund for African startups

Samurai Incubate, a Tokyo-based venture capital firm, announced today it has closed its “Samurai Africa 2nd General Partnership” fund, totalling 2.026 billion yen (~$18.6 million). According to the firm, the fund was oversubscribed as it targeted 2 billion (~$18.4 million) and a total of 54 investors joined as LPs. One […]

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Nigeria’s SEC warns investment platforms to stop trading ‘unregistered’ foreign securities

In a circular released by Nigeria’s capital market regulator SEC today, investment platforms providing access to foreign securities might be treading on dangerous grounds. According to the SEC regulations that have just been brought to light, these platforms are trading foreign securities not registered in the country and have been […]

Flutterwave and PayPal partner to allow African merchants to accept and make payments

It is nearly impossible for businesses in some African countries to receive money from PayPal. While the payments giant has not given reasons why this is so, speculation hints at factors like insufficient regulation and poor banking security in said countries.  That might be a thing of the past for […]

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African payments company Flutterwave raises $170M, now valued at over $1B

The proliferation of fintech services across Africa remains in full swing as investors remain bullish about the opportunities that abound in the sector. Today we behold another unicorn: African payments company Flutterwave announced that it has closed $170 million, valuing the company over $1 billion. New York-based private investment firm […]

This pan-African freelance platform is the first Zimbabwean startup backed by Techstars

On the 25th of January, Techstars Seattle announced its 12th class featuring 10 startups from different parts of the world. The accelerator, which has accepted only a handful of African startups, included one from Zimbabwe in this class. AfriBlocks is a global pan-African marketplace of vetted African freelance professionals. The startup […]

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Jack Dorsey and Jay Z invest 500 BTC to make Bitcoin ‘internet’s currency’

Twitter and Square CEO Jack Dorsey and rapper Jay Z have created an endowment to fund bitcoin development initially in Africa and India, Dorsey said on Friday. The duo is putting 500 bitcoin, which is currently worth $23.6 million, in the endowment called ₿trust. The fund will be set up […]

YC-backed Djamo is building a financial super app for consumers in Francophone Africa

Djamo, a financial super app for consumers in Francophone Africa, is the first startup from Ivory Coast to get backing from Y Combinator. While there has been a huge profusion of financial services that have emerged in recent years in Africa, Djamo’s mission is to try to plug one specific […]

Institutional trust is the real meme

Hello friends, this is Week in Review. Last week, I dove into the AR maneuverings of Apple and Facebook and what that means for the future of the web. This week, I’m aiming to touch the meme stock phenomenon that dominated American news cycles this week and see if there’s […]

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How fintech and serial founders drove African pre-seed investing to new heights in 2020

When Stripe-subsidiary Paystack raised its seed round of $1.3 million in 2016, it was one of the largest disclosed rounds at that stage in Nigeria.  At the time, seven-figure seed investments in African startups were a rarity. But over the years, those same seed-stage rounds have become more common, with […]