Tage Kene-Okafor

Jumia’s revenue and gross merchandise volume showed growth despite a decrease in quarterly active customers, according to its Q1 2024 report. Revenue increased by 19% year-over-year (57% in constant currency)…

Two years after announcing plans, Amazon’s highly awaited e-commerce entry into sub-Saharan Africa has finally come to pass. On Tuesday, the tech giant launched its marketplace in South Africa. South…

Cards are gaining ground in Egypt, with over 30 million in circulation (prepaid cards, particularly, are seeing more use than debit and credit cards combined). This surge in card usage,…

The logistics industry in Nigeria, like any informal sector, struggles with poor infrastructure and other inefficiencies, making it difficult for businesses — both large and small — to move and…

Food is significant to Nigerians, with households spending nearly 60% of their income on it, the highest globally, according to official reports. This strong affinity for food, coupled with the…

Venture capital activity in Africa has shown resilience over the past six months, with major firms on the continent closing their funds despite the ongoing funding winter. In the latest…

VNV Global, a Swedish investment firm that backs startups in mobility, health and marketplaces, slashed the value of its holding in Wasoko, an African B2B e-commerce startup, by 48%, according…

Moove, an African mobility fintech that offers vehicle financing to ride-hailing and delivery app drivers, has raised $100 million in a funding round as it plots expansion into new markets.…

African financial institutions typically scale their solutions using a mix of local and foreign tech. Appzone is one of the standout local fintech software providers for banks and fintechs, providing…

Youverify, a Nigerian provider of identity verification and anti-money laundering (AML) solutions for banks and startups, secured a $2.5 million investment from Elm, which specializes in offering ready-made and customized…

Nigeria is actively seeking information from Binance regarding its top 100 users in the country and all transaction history spanning the past six months, according to a Financial Times report.…

MDaaS Global, a Nigerian health tech company that operates a network of tech-enabled diagnostic centers across the country, has secured $3 million in pre-Series A funding. The round was led…

Binance will discontinue its naira (NGN) services in response to heightened regulatory scrutiny in Nigeria, it said in a blog post today. The cryptocurrency exchange will begin delisting any existing…

As remote work becomes increasingly prevalent, organizations globally are adapting, especially regarding onboarding procedures for new employees and navigating cross-border payment complexities. This new age of work has led to a…

HR startup Deel said it is acquiring Africa’s PaySpace in a deal that marks its largest acquisition to date.

Qatar unveiled its startup investment program at the recent Web Summit through its development bank. The program aims to attract seed and growth-stage tech companies seeking to establish or expand…

The payment landscape in the Middle East and Africa (MEA) region is marked by significant fragmentation, with numerous payment providers and methods in each country, evolving regulations and diverse customer…

Dubai-based early-stage venture capital firm COTU Ventures is announcing that it has raised $54 million for its inaugural fund to support startups in the Middle East from pre-seed to seed…

The Qatar Investment Authority (QIA) is launching a $1 billion venture capital fund of funds for international and regional venture capital funds, the sovereign wealth fund announced on Monday at…

Some cryptocurrency exchanges in Nigeria faced accessibility issues for users, prompting speculation of imposed restrictions on crypto sites, the Financial Times reported. On Wednesday, local media reported that Nigeria’s telecom…

In the face of South Africa’s worsening energy crisis, marked by increasingly severe power shortages, implementing daily electricity rationing has become imperative to avert the risk of a nationwide grid…

FairMoney, a digital bank based in Lagos and headquartered in Paris, is in discussions to acquire Umba, a credit-led digital bank providing payroll and financial services to customers in Nigeria…

Partech has closed its second Africa fund, Partech Africa II, at €280 million ($300 million+), just one year after reaching its first close. At that size, Partech Africa, which originally…

In 2023, Jumia revised its adjusted EBITDA loss guidance thrice: $100 million to $120 million in Q1; $90 million to $100 million in Q2; and $80 million to $90 million…

Arnergy, a Nigerian clean tech startup that deals in distributed renewable energy products and solutions, has raised $3 million in new financing. The bridge round was financed by All On,…

Last year, Amini, a Kenya-based climate tech startup using data from satellites to offer insights on crop health and track farming progress, announced pre-seed and seed rounds six months apart.…

Nigerian online teaching platform Klas has raised $1 million in pre-seed funding led by Ingressive Capital, with participation from Techstars, HoaQ, and several angel investors. Founded in 2022 by Nathan…