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  • Tunisia’s ANAVA Invests USD 4 M In Rasmal Fund To Support Startups
    Tunisia’s state-backed ANAVA fund has invested USD 4 M in Qatar-based Rasmal Innovation Fund, strengthening ties between North African and Gulf investment ecosystems. Rasmal, which recently secured backing from the Qatar Investment Authority’s USD 1 B fund-of-funds program, focuses on early to growth-stage startups across MENA in fintech, SaaS, healthtech, and logistics. The partnership aims to channel international capital into Tunisian startups. Rasmal p
     

Tunisia’s ANAVA Invests USD 4 M In Rasmal Fund To Support Startups

17 septembre 2025 à 13:26

Tunisia’s state-backed ANAVA fund has invested USD 4 M in Qatar-based Rasmal Innovation Fund, strengthening ties between North African and Gulf investment ecosystems. Rasmal, which recently secured backing from the Qatar Investment Authority’s USD 1 B fund-of-funds program, focuses on early to growth-stage startups across MENA in fintech, SaaS, healthtech, and logistics.

The partnership aims to channel international capital into Tunisian startups. Rasmal partner Soumaya Ben Beya Dridje, a former ANAVA employee, brings local expertise to the fund, which has already invested in Tunisian water-tech company Aqua Development.

“This reflects our commitment to growing Tunisia’s tech ecosystem,” said ANAVA, which is supported by the World Bank, BII, and KfW.

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  • Circle Ventures Backs CV VC’s USD 20 M African Blockchain Fund
    Circle Ventures, the investment arm of USDC stablecoin issuer Circle, has invested in the USD 20 M African Blockchain Fund run by CV VC (Crypto Valley Venture Capital), marking a pivotal bet on Africa’s growing stablecoin-driven digital asset ecosystem. The Cayman-Islands–domiciled fund focuses on early-stage African startups using blockchain for fintech, payments, and data infrastructure. This shift towards infrastructure investment follows a wave of cryp
     

Circle Ventures Backs CV VC’s USD 20 M African Blockchain Fund

17 septembre 2025 à 13:10

Circle Ventures, the investment arm of USDC stablecoin issuer Circle, has invested in the USD 20 M African Blockchain Fund run by CV VC (Crypto Valley Venture Capital), marking a pivotal bet on Africa’s growing stablecoin-driven digital asset ecosystem.

The Cayman-Islands–domiciled fund focuses on early-stage African startups using blockchain for fintech, payments, and data infrastructure. This shift towards infrastructure investment follows a wave of crypto exchange shutdowns across the continent, as capital now flows to startups tackling structural issues like currency volatility, cross-border payment friction, and financial exclusion.

Launched in 2022 by CV VC Africa Managing Partner Gideon Greaves, the African Blockchain Fund has previously backed ventures in Nigeria, Kenya, and South Africa. Circle’s participation signals growing confidence from global players that Africa’s digital asset future will be built on stablecoin-powered utility rather than speculative trading.

This comes as stablecoins now account for 43% of all crypto transaction volume in sub-Saharan Africa, according to Chainalysis, with Nigerians receiving UD 24 B in stablecoins in 2024 alone; the second highest globally.

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  • 5 Times African Businesses Fought People For Bad Reviews And It Backfired
    Some customers write a bad review. Sometimes a brand fights back. And sometimes, the fight becomes headline news. In an era where a single tweet, TikTok, or Facebook post can dent a brand’s reputation, some African companies have taken “defending their name” to extremes; dragging customers and critics to court, threatening multimillion-dollar suits, or even involving police. From tomato paste makers and biscuit brands to beauty labels
     

5 Times African Businesses Fought People For Bad Reviews And It Backfired

16 septembre 2025 à 14:01

Some customers write a bad review. Sometimes a brand fights back. And sometimes, the fight becomes headline news.

In an era where a single tweet, TikTok, or Facebook post can dent a brand’s reputation, some African companies have taken “defending their name” to extremes; dragging customers and critics to court, threatening multimillion-dollar suits, or even involving police.

From tomato paste makers and biscuit brands to beauty labels and smartphone giants, these five African companies turned what should have been minor customer complaints into full-blown legal battles, and in the process, showed just how thin the line is between defending reputation and torching it.

Here are real cases revealing the perilous line between protecting reputation and silencing dissent:

1. Erisco Foods vs. Chioma Okoli (Nigeria)

In September 2023, Chioma Okoli, a consumer in Lagos, posted a Facebook review claiming that Erisco’s Nagiko Tomato Mix tasted “too much sugar”.

What followed was a chain of legal actions. Erisco filed a petition, the Police arrested Okoli, and the matter turned into a full-blown court case.

Erisco’s CEO, Eric Umeofia, made some forceful statements:

“I am pursuing legal charges against her because I have a conscience. Is she right to falsely criticise my product, and people are supporting her?,” he fumed. “I have over 3000 people in my factory; indirectly, we are paying 20,000 people. I cannot allow this type of ‘syndicate’ to come and destroy my business.”

Okoli’s legal representation countered strongly. She has threatened to demand NGN 500 M (~USD 334 K at current rates) from Erisco for violation of her human rights, saying the company’s actions went far beyond what is reasonable.

The saga has become a lightning rod in Nigeria for debates about weaponising cybercrime laws to muzzle legitimate consumer criticism.

This case also highlighted the potential for the Cybercrime Act in Nigeria to be used in defamation or “misinformation” cases, raising concerns among consumer rights advocates, activists, and legal experts about the chilling effects on legitimate criticism.

2. Nuvita Biscuits vs. TikTok Reviewer (Kenya)

Back in 2018, Kenyan TikTokers and Facebook users began complaining that Nuvita’s biscuits were “shrinking” in size while prices rose.

When a popular content creator posted a sarcastic video showing a tiny biscuit in her palm, Nuvita hit back. They issued public denials, flagging takedown requests, and allegedly pressuring the influencer’s agency to silence her.

The dispute escalated into public rows, removal requests for ads, and reported attempts to pressure or discredit the critic, a classic example of a brand pushing back at a consumer’s public review and commentary.

Rather than quelling the backlash, Nuvita’s combative stance supercharged it, with memes, boycott hashtags, and coverage in Kenyan business outlets dissecting its PR blunder.

The incident became a textbook cautionary tale for Kenyan marketers on the dangers of escalating snarky reviews into corporate vendettas.

3. Van Deventer Inc vs. Sizwe Mdakane (South Africa)

In 2023, a South African law firm, Van Deventer Inc, attempted to use the courts to silence a former client, Sizwe Mdakane, after he posted a negative review of the firm’s service on Google Reviews.

Mdakane complained that the advice he received from junior practitioners at the firm was poor. The firm believed this criticism “implied it was unprofessional, dishonest and untrustworthy,” and sought a court order to force the removal of the post and restrain Mdakane from making further comments.

The Gauteng High Court rejected the application. Judge Stuart Wilson, in his ruling, stressed that what matters in defamation isn’t necessarily the intent of the critic, but how a “reasonable reader of ordinary intelligence” would interpret the statement. He found that Mdakane’s comments, while critical, did not meet the legal threshold for defamation that justifies gagging speech.

The judgment was hailed by legal commentators as a landmark win for consumer speech in South Africa.

4. Native Child Africa vs. Beauty Influencer (South Africa)

In 2021, South African haircare brand Native Child Africa sought an interdict (court injunction) against a local beauty influencer who had posted Instagram Stories calling its products unsafe.

The company argued the posts were false and defamatory; the court granted an interim interdict forcing the influencer to stop posting any further criticism pending full trial.

Consumer-rights groups criticised the move as “corporate censorship via lawfare,” warning it could chill honest product reviews.

The case underscored how South African defamation law can be used pre-emptively to muzzle critics, even before any full evidence hearing.

5. OPPO Kenya vs. AIfluence / Influencers

A more modern twist on review-based conflict is playing out in the influencer economy. In early 2025, OPPO Kenya sued the marketing agency AIfluence over a dispute triggered by content creators who claimed they were not paid for their work promoting OPPO’s Reno12 series campaign.

Influencers like Flaqo Raz publicly shared that they had created three months’ worth of content in only two weeks under pressure from OPPO and AIfluence, only for payments to be delayed or not delivered, even five months later.

OPPO Kenya insists it fulfilled its obligations to AIfluence, making an initial 50 % down payment, then the remaining 50% once work was complete, on 25 October 2024.

Still, with unpaid influencers complaining, OPPO filed suit alleging defamation and brand damage due to the agency’s failure.

The earlier mentioned Flaqo, put it plainly: “How you both have handled the influencer team is absolutely disappointing and downright shameful.”

OPPO insists it paid AIfluence in full and accused the agency of defamation for letting unpaid influencers tarnish its brand.

The post 5 Times African Businesses Fought People For Bad Reviews And It Backfired appeared first on WeeTracker.

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  • Long-Standing Ghana’s mPharma Founder Steps Down, COO To Take Over
    Gregory Rockson, founder and chief executive of Ghanaian health technology firm mPharma, is stepping down after 11 years, the founder has revealed. He will transition to the role of Chairman of the board, while Chief Operating Officer Kwesi Arhin will be promoted to CEO, effective Sept. 1, 2025. The leadership change at one of Africa’s most prominent healthtech startups follows a period of significant restructuring, including a major round of layoffs and a strategic shift t
     

Long-Standing Ghana’s mPharma Founder Steps Down, COO To Take Over

16 septembre 2025 à 11:17

Gregory Rockson, founder and chief executive of Ghanaian health technology firm mPharma, is stepping down after 11 years, the founder has revealed. He will transition to the role of Chairman of the board, while Chief Operating Officer Kwesi Arhin will be promoted to CEO, effective Sept. 1, 2025.

The leadership change at one of Africa’s most prominent healthtech startups follows a period of significant restructuring, including a major round of layoffs and a strategic shift toward operational efficiency and new markets.

Arhin, who joined mPharma in 2021 and most recently served as COO, will take the helm. His background in finance and global consulting is seen as aligning with the company’s renewed focus on a disciplined growth model.

The move is a common transition for venture-backed startups, where founders move to a strategic board role as the company matures.

The CEO change caps a volatile period for the company. In September 2023, mPharma laid off approximately 150 employees, which Rockson at the time linked to macroeconomic challenges and a severe devaluation of Nigeria’s currency.

Months later, in January 2024, the company secured USD 13.6 M in new funding from investors, including the Sanofi Global Health Unit Impact Fund.

That capital has supported a strategic pivot, including a recent push into Francophone Africa, where the company reported an annualised revenue run rate of USD 1.5 M within seven months.

Founded in 2014, mPharma manages a network of pharmacies and clinics to improve access to affordable medicine. It has raised over USD 65 M to date and operates in several African countries, including Ghana, Nigeria, and Kenya.

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  • Kenya’s Communications Authority Cracks Down on 42 TV Stations in Licensing Blitz
    The Communications Authority of Kenya (CA) has announced its decision to revoke the licenses of 42 television stations. Citing a persistent failure to comply with regulatory requirements, the move signals a continued effort by the CA to enforce the provisions of the Kenya Information and Communications Act (Cap. 411). The stations have been given a seven-day notice to cease operations, with all broadcast resources reverting to the Authority. It is not clear when the licences will be revoked,
     

Kenya’s Communications Authority Cracks Down on 42 TV Stations in Licensing Blitz

16 septembre 2025 à 09:36

The Communications Authority of Kenya (CA) has announced its decision to revoke the licenses of 42 television stations. Citing a persistent failure to comply with regulatory requirements, the move signals a continued effort by the CA to enforce the provisions of the Kenya Information and Communications Act (Cap. 411).

The stations have been given a seven-day notice to cease operations, with all broadcast resources reverting to the Authority. It is not clear when the licences will be revoked, because the statement was issued on August 22, but gazetted on September 12. So far, most of the TV stations listed are still in operation.

The revocation, announced by CA Director-General David Mugonyi, is the latest in a series of actions aimed at sanitising the broadcasting sector. This follows a similar crackdown in 2024, when the Authority revoked the licenses of 75 TV and radio stations.

The current list of affected broadcasters includes well-known outlets such as Mount Kenya TV, owned by politician Purity Ngirici and her husband; NAI TV, owned by renown media personality Jimmi Gathu; Wananchi TV, owned by Wananchi Group, which also owns ISP Zuku; Fanaka TV, owned by politician and former cabinet secretary Moses Kuria, and Metropol TV, owned by the parent company that also owns credit reference bureau Metropol.

According to a statement from the CA, the reasons for the revocations are wide-ranging but centre on critical regulatory breaches. These include the failure to pay license fees, non-compliance with licensing conditions, and in some cases, a complete cessation of operations. The Authority maintains that these measures are essential to uphold broadcasting standards and ensure a fair and transparent media environment.

The directive has raised concerns about the future of many smaller and independent media houses. For the affected stations, the immediate implication is a total shutdown of their operations, rendering them unable to broadcast or provide any services. For Zuku in particular, this will curtail one of their critical value-add services.

While the affected stations have the option to appeal, the CA’s stance indicates that the path to reinstatement will be challenging. This action underscores the CA’s commitment to holding all broadcasters accountable, regardless of their size or reach.

Here is the full list of affected stations:

Apple Truth Television owned by Apple Truth Television Network Limited
Metropol TV owned by Comprehensive Business Media Limited
Corporate Media TV owned by Corporate Media Communications
DG TV owned by Dominion Generation Limited
Doxa TV owned by Doxa Television
Dunamis KTV owned by Dunamis Television Network Limited
Masai TV owned by Enaang Maa TV Limited
Ezra Christian TV owned by Ezra Christian TV Limited
Fanaka TV owned by Fanaka Television Limited
Faith Estate TV owned by Fort Hall College Limited
Talent TV owned by Gates Africa Education Trust
Champion TV owned by Heroes Communications Limited
ILM TV owned by ILM Media Limited
NAI TV owned by JimmiGathu Incorporated Limited
The Mirror Television owned by Jmax Media Services Limited
Ziwa TV owned by Jusga Wanjira Construction Limited
Kingdom Ambassadors TV owned by Kingdom Ambassadors Media Group
Limited
Uboro TV owned by Kirinyaga Multimedia College
Kokwo Television owned by Kokwo Radio International Limited
Bulsho TV owned by Lufman Company Limited
Manifestation TV owned by Manifestation TV Limited
Mount Kenya TV owned by Mount Kenya Media Limited
Limited Pillar TV owned by Mt. Kenya Blessings Company
Tourism and Wildlife TV (Safari Channel) owned by Next Options Limited

Ongatet owned by Ongatet Television Network
Mbugi TV owned by Outcom Media Limited
Safina Television owned by Safina T.V Limited
Shakaal Television owned by Shakaal Media Network Limited
Sugan TV owned by Sugan Media Group
Tama TV owned by Tama Media Group Limited
Sawa Television owned by Tano Entertainment Network
The Word Music TV owned by The Word Music Limited
Soko TV owned by Thirties Media Limited
Thjiwe TV owned by Thstone Television Limited
Tem TV owned by Triple Edge Media Limited
Ukweli TV Kenya owned by Ukweli Sounds and Video Limited
Value TV owned by Valutel Limited
Wananchi TV owned by Wananchi Television Network Limited
009 TV owned by 009 Television Limited
Ability TV owned by Ability Channel Limited
Ace TV owned by Ace Television Limited
Superflex Television owned by Admerline Construction Limited

Featured Image Courtesy: New Frame

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  • Morocco Secures Africa’s First Battery Gigafactory in USD 5.6 B Deal with China
    As the world accelerates toward cleaner energy and transport, Morocco is cementing its place on the global clean energy map with a landmark agreement to host Africa’s first battery gigafactory. Backed by a USD 5.6 B investment from China’s Gotion High-Tech, the project is set to transform the North African kingdom into a major supplier of batteries for electric vehicles (EVs) and renewable energy storage, a strategic leap for both Morocco and
     

Morocco Secures Africa’s First Battery Gigafactory in USD 5.6 B Deal with China

15 septembre 2025 à 16:43

As the world accelerates toward cleaner energy and transport, Morocco is cementing its place on the global clean energy map with a landmark agreement to host Africa’s first battery gigafactory.

Backed by a USD 5.6 B investment from China’s Gotion High-Tech, the project is set to transform the North African kingdom into a major supplier of batteries for electric vehicles (EVs) and renewable energy storage, a strategic leap for both Morocco and the continent.

The gigafactory will be located in Kenitra, northwest Morocco, an industrial hub already home to major carmakers. Construction is underway, with production expected to begin in the third quarter of 2026.

The plant’s first phase will deliver 20 gigawatt-hours (GWh) annually, enough to power hundreds of thousands of EVs. At full capacity, the factory is designed to reach 100 GWh, placing Morocco among the world’s largest producers of advanced batteries.

A Mega-Project with Mega Impact

With a total projected cost of USD 6.5 B, the gigafactory ranks among the largest industrial projects ever launched in Africa. The initial phase alone involves USD 1.3 B in investment and is expected to create 17,000 direct and indirect jobs. Over the course of five development stages, the project is expected to employ more than 10,000 workers directly.

Unlike many assembly plants that depend on imported parts, the Kenitra facility plans to also produce cathodes and anodes, the critical components of lithium-ion batteries. This vertical integration reduces Morocco’s reliance on foreign supply chains and adds a layer of security and cost competitiveness that few other regions in Africa, or even Europe, can currently match.

“This is not just about production capacity,” said Khalid Qalam, Gotion’s Moroccan director, who confirmed that earthworks are complete and construction is set to accelerate. “It’s about building an entire value chain in Morocco that serves Europe, Africa, and beyond.”

Morocco at the Crossroads of the Energy Transition

For Morocco, the gigafactory is a strategic play. The country has spent the last decade diversifying beyond agriculture and textiles, and its automotive sector is already leading its exports, making it Africa’s leading car producer. In 2024, Morocco’s car industry posted record overseas sales of MAD 157 B (USD 15.7 B), cementing its place as the European Union’s top automotive supplier, surpassing China, Japan, and India.

With Europe preparing to ban new fossil fuel cars by 2035, demand for EV batteries is surging. Morocco is uniquely positioned to meet that demand. Around 85% of the gigafactory’s output will be exported to Europe, offering the bloc a reliable alternative to Asian supply routes that have dominated the sector.

The project also strengthens Morocco’s ties with global automakers already present in the country, including Renault and Stellantis, while opening opportunities to serve the fast-growing market for renewable energy storage in Africa and the Middle East.

Overall, the factory aligns with Morocco’s national strategy to retain skilled talent, foster innovation, and reduce economic dependence on traditional sectors. By pivoting toward high-tech industries, Morocco is securing its position in the future global economy.

China’s Strategic Play in Africa

The gigafactory underscores China’s deepening role in Africa’s industrial future. Gotion High-Tech, a leading battery producer, is spearheading the project, but it is not alone. Other Chinese companies, including BTR, CNGR, Hailiang, and Shinzoom, are investing heavily in Morocco’s battery and materials sector, setting up Morocco as a strategic hub for green technology in North Africa.

For Beijing, this is part of a larger strategy: pairing infrastructure and industrial investment to reshape global clean energy supply chains. Morocco’s location just across the Mediterranean from Europe makes it a natural bridgehead for China’s ambitions.

Meanwhile, China’s role in Morocco’s gigafactory is part of a wider push across Africa, where it has steadily expanded from railways and ports to energy and industrial projects in countries like Nigeria.

The implications extend far beyond Morocco. By hosting Africa’s first battery gigafactory, the country is setting a precedent for how the continent can move up the value chain from exporting raw minerals to manufacturing advanced clean technologies.

Ultimately, the Morocco-China partnership is more than an industrial deal. It is a symbol of a new era in which African nations are emerging as active players in the global energy transition. By anchoring the continent’s first battery gigafactory, Morocco has positioned itself as a bridge between Africa, Europe, and Asia in one of the century’s most strategic industries.

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  • JICA Invests USD 10 M In Novastar Ventures Africa Fund III With Impact Focus
    The Japan International Cooperation Agency (JICA) has committed USD 10 M to the Novastar Ventures Africa People and Planet Fund III, managed by Novastar Ventures. JICA is co-investing with British International Investment and other development finance institutions as well as financial and strategic investors in the private sector, including Japanese corporates. The project will finance startups engaged in impactful businesses via investing in Novastar, a leader of the venture capital mark
     

JICA Invests USD 10 M In Novastar Ventures Africa Fund III With Impact Focus

15 septembre 2025 à 14:46

The Japan International Cooperation Agency (JICA) has committed USD 10 M to the Novastar Ventures Africa People and Planet Fund III, managed by Novastar Ventures.

JICA is co-investing with British International Investment and other development finance institutions as well as financial and strategic investors in the private sector, including Japanese corporates.

The project will finance startups engaged in impactful businesses via investing in Novastar, a leader of the venture capital market and startup ecosystem in Africa. It aims to empower people through economic and social inclusion, promote sustainable and climate-positive economic activities, and thereby contribute to economic development and addressing social challenges in Africa.

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  • Odyssey Energy Secures USD 7.5 M From BII For Nigerian Solar Mini-Grids
    Renewable energy platform Odyssey Energy Solutions has secured a USD 7.5 M funding facility from British International Investment (BII), the UK’s development finance institution. The investment will accelerate the deployment of solar mini-grids across Nigeria, tackling a critical energy access challenge where 90 million people lack reliable electricity. The funding supports Nigeria’s DARES program—a government initiative backed by the Wor
     

Odyssey Energy Secures USD 7.5 M From BII For Nigerian Solar Mini-Grids

15 septembre 2025 à 14:04

Renewable energy platform Odyssey Energy Solutions has secured a USD 7.5 M funding facility from British International Investment (BII), the UK’s development finance institution. The investment will accelerate the deployment of solar mini-grids across Nigeria, tackling a critical energy access challenge where 90 million people lack reliable electricity.

The funding supports Nigeria’s DARES program—a government initiative backed by the World Bank—aiming to provide power to 17.5 million Nigerians via 1,500 solar mini-grids and 1.5 million solar home systems. Odyssey’s digital platform streamlines project management, equipment financing, and real-time monitoring for developers and the Rural Electrification Agency (REA).

“BII’s support helps us offer flexible financing to scale clean energy access,” said Piyush Mathur, Odyssey Co-Founder.

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  • Cameroonian Logistics Startup Swyft Secures Pre-Seed Funding
    Swyft, a Cameroon-based logistics tech startup, has received a pre-seed investment from the University of Michigan International Investment Fund (IIF) to scale its B2B and B2C delivery services across Africa. Founded in 2019, the IIF backs SMEs in emerging markets. Swyft, which specializes in first-to-last mile logistics, will use the funding to expand operations and enhance its tech platform. “This partnership validates our mission to
     

Cameroonian Logistics Startup Swyft Secures Pre-Seed Funding

28 juillet 2025 à 16:31

Swyft, a Cameroon-based logistics tech startup, has received a pre-seed investment from the University of Michigan International Investment Fund (IIF) to scale its B2B and B2C delivery services across Africa.

Founded in 2019, the IIF backs SMEs in emerging markets. Swyft, which specializes in first-to-last mile logistics, will use the funding to expand operations and enhance its tech platform.

“This partnership validates our mission to modernize African logistics,” said Franck Batchadji, Swyft’s CEO. The IIF praised Swyft’s potential to transform delivery services in Cameroon and beyond.

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  • HAVAÍC Announces 2nd Close Of Its USD 50 M African Tech Fund
    Cape Town venture capital firm HAVAÍC has secured USD 25 M toward its USD 50 M African Innovation Fund 3, with major backing from financial services group Sanlam Multi-Manager. The fund targets 15 early-stage African tech startups with global potential, focusing on fintech, agritech and other high-growth sectors. The investment marks Sanlam’s first significant move into South Africa’s VC space, joining existing backers Fireball Capital and the
     

HAVAÍC Announces 2nd Close Of Its USD 50 M African Tech Fund

28 juillet 2025 à 16:11

Cape Town venture capital firm HAVAÍC has secured USD 25 M toward its USD 50 M African Innovation Fund 3, with major backing from financial services group Sanlam Multi-Manager. The fund targets 15 early-stage African tech startups with global potential, focusing on fintech, agritech and other high-growth sectors.

The investment marks Sanlam’s first significant move into South Africa’s VC space, joining existing backers Fireball Capital and the SA SME Fund. HAVAÍC has already deployed capital from the fund, including USD 1 M investments in SAPay (digitising taxi payments) and sports analytics platform Sportable. These join earlier 2025 investments in pan-African payments platform NjiaPay and livestock trading platform SwiftVEE.

The announcement follows several successful exits from HAVAÍC’s portfolio, most notably emergency response tech firm RapidDeploy’s acquisition by Motorola Solutions; one of South Africa’s largest tech exits. Another portfolio company, hearX Group, recently merged with hearing tech firm Eargo in a USD 100 M deal.

With its current portfolio already serving 22 million customers across 183 countries, HAVAÍC is positioning itself as a key player in Africa’s growing VC landscape. The firm plans to continue identifying and supporting African tech entrepreneurs building scalable solutions, with particular interest in businesses that can expand across multiple African markets and beyond. The remaining USD 25 M of the fund is expected to be raised in the coming months.

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  • Nigeria’s Film Industry Has A Radical Plan To Save Itself From Streaming Giants
    As Netflix and Amazon Prime retreat from Nigeria’s original content scene, two of Nollywood’s biggest players, Inkblot Studios and Filmhouse Group, are betting that the time is finally right for a homegrown streaming service. Their joint venture, Kava, is set to launch in August 2025, promising a curated library of Nollywood films and series backed by scale, strategy, and a touch of realism. At first glance, it’s an ambitious leap. Kava e
     

Nigeria’s Film Industry Has A Radical Plan To Save Itself From Streaming Giants

28 juillet 2025 à 15:38

As Netflix and Amazon Prime retreat from Nigeria’s original content scene, two of Nollywood’s biggest players, Inkblot Studios and Filmhouse Group, are betting that the time is finally right for a homegrown streaming service. Their joint venture, Kava, is set to launch in August 2025, promising a curated library of Nollywood films and series backed by scale, strategy, and a touch of realism.

At first glance, it’s an ambitious leap. Kava enters a streaming landscape littered with cautionary tales—iROKOtv chief among them—while global streamers pull back on African investments and creators increasingly pivot to YouTube in search of monetisation and autonomy.

But Kava’s founders insist they’ve learned from past failures. And rather than chase Netflix’s scale or Iroko’s first-mover status, they’re building for depth—with a model that leans on high-quality local content, diaspora appeal, and a sustainable, multi-platform ecosystem.

“We’re not just streaming films. We’re fueling careers and building an infrastructure for African storytelling,” says Kene Okwuosa, Kava’s co-CEO and head of Filmhouse Group.

Filmhouse boasts West Africa’s largest cinema chain and controls a vertically integrated studio-distribution network through FilmOne. Inkblot Studios, behind hits like The Set Up and Up North, was the first Nigerian production house to ink licensing deals with both Netflix and Amazon.

The platform launches with over 30 premium Nollywood titles and promises fresh drops weekly. Featured titles include Alakada Bad and Boujee, Owambe Thieves, What About Us, and House Job. Originals are in the pipeline, and Kava eventually plans to scale beyond Nigeria to tell stories across Africa.

But more than content, the founders say, Kava is a “digital infrastructure” project; a way to centralise Nollywood’s fractured monetisation channels, serve fans directly, and offer creators fairer economics than the ad-driven instability of YouTube or the bureaucratic lag of foreign licensing.

“When we deliver content at scale to audiences beyond ourselves, they’ll fall in love with the stories. They just don’t know it yet,” says Inkblot’s Chinaza Onuzo, who serves as Kava’s co-CEO.

Kava arrives at a transitional moment. Netflix and Prime Video have dialled back their local originals after a brief Nollywood shopping spree between 2020 and 2022. What’s hitting screens now, like Kemi Adetiba’s To Kill A Monkey, are the last remnants of that era. New commissions have slowed to a crawl.

This vacuum has driven creators to YouTube, where lighter, faster productions offer greater creative control and instant ad payouts. But the economics remain brutal. CPMs in Nigeria hover around USD 1.00, and a star actor might cost millions of naira, meaning millions of weekly views are required to break even, let alone profit.

Subscription platforms (SVODs) aren’t much better. iROKOtv, once hailed as the “Netflix of Africa,” spent over USD 100 M trying to crack the Nigerian market, only to retreat in 2023 and pivot to diaspora users in the U.S. and U.K. Its active user base peaked at under 200,000. Even its founder Jason Njoku now insists: “SVOD can’t work here.”

Fresh attempts at wooing the diaspora indicate a push for untapped opportunities, however. Roughly five million Nigerians live abroad, sending more than USD 20 B home every year. They’re already used to subscriptions and hungry for high-quality content that reflects their culture. Kava, along with other newcomer rivals, such as EbonlyLife ON Plus, is chasing that niche.

Kava’s leadership sees itself less as a Netflix clone and more of a niche but deeply committed hub for loyal fans. Product chief Damola Ademola compares the model to anime or horror streaming services like Shudder: “African movies can easily be just like that,” he told TechCabal.

Funding is in motion. A friends-and-family round has already closed, with institutional backing from TLG Capital and VestedWorld. More capital will be instrumental in expanding Kava’s footprint across Africa and into the U.K. and Europe. Yet even with funding, no one is pretending this will be easy.

Feature Image Credits: BusinessDayNG

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  • Egypt’s Elmenus Appoints Walid El-Saadany As CEO, Founder Amir Allam Steps Aside
    Egypt’s Elmenus, an online food discovery platform, has appointed Walid El-Saadany as its new chief executive officer, replacing founder Amir Allam after more than a decade leading the company. The announcement marks a leadership handover at a time when the food-tech platform is planning to expand across more cities and invest in new digital infrastructure. El-Saadany, who will also join the board of directors, is expected to guide the company through a new phase focuse
     

Egypt’s Elmenus Appoints Walid El-Saadany As CEO, Founder Amir Allam Steps Aside

28 juillet 2025 à 11:40

Egypt’s Elmenus, an online food discovery platform, has appointed Walid El-Saadany as its new chief executive officer, replacing founder Amir Allam after more than a decade leading the company.

The announcement marks a leadership handover at a time when the food-tech platform is planning to expand across more cities and invest in new digital infrastructure.

El-Saadany, who will also join the board of directors, is expected to guide the company through a new phase focused on scaling operations, integrating artificial intelligence, and building closer relationships with restaurant partners.

He takes over from Amir Allam, who founded Elmenus in 2011 with USD 5 K and a small team, and built it into one of the country’s best-known platforms for food discovery and delivery. Allam will remain on the board and stay involved in the company’s strategic direction.

Allam, reflecting on the transition, said he felt the timing was right to step back from day-to-day leadership. “What began with a laptop and two people has become a household brand that has impacted millions of users, created jobs for tens of thousands,” he said. “It is now the right time to pass the baton as the company enters a new phase.”

The company says Elmenus now reaches over 8.5 million users annually and works with more than 12,000 restaurants across four cities, with 1,000 of those currently offering online ordering. It has raised USD 30 M in funding from regional and global investors, including Careem and Global Ventures.

El-Saadany enters the role with nearly two decades of experience in tech, logistics, and venture-backed startups. He previously led Otlob through two key acquisitions, first by Foodpanda and later by Delivery Hero, which eventually rebranded the platform as Talabat. His background is seen as a key asset as Elmenus looks to strengthen its operational structure and broaden its market reach.

At Elmenus, he is expected to focus on expanding the platform’s presence beyond Cairo, Alexandria, and Giza into underserved cities and towns, where Elmenus plans to onboard more than 4,000 new restaurants in the coming period.

As part of the strategy, Elmenus plans to roll out AI-driven features aimed at improving restaurant discovery, delivery times, and offering more personalised recommendations to users. These changes are aimed at increasing efficiency while helping restaurant partners manage operations, pricing, and customer engagement more effectively.

Part of the company’s roadmap also includes investment in local talent development and workforce training, with initiatives that include upskilling riders and developers, as well as supporting small restaurant operators and women-led kitchens.

The leadership shift comes as Egypt’s food delivery and digital payments markets continue to grow, driven by rising smartphone adoption, fintech expansion, and increased demand for convenience and local service. Elmenus is positioning itself to benefit from those trends by enhancing both its consumer experience and its back-end tools for restaurants.

El-Saadany is expected to focus on execution and scale, with an eye toward long-term stability in a competitive and fast-moving market.

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  • Nigeria Probes Massive ID Fraud Black Market Invading Fintech Sector
    Nigeria’s bubbly fintech sector is under fresh scrutiny after the country’s anti-corruption agency uncovered a sprawling identity fraud scheme involving thousands of young Nigerians selling biometric data to digital finance platforms. According to the Economic and Financial Crimes Commission (EFCC), over 12,000 individuals are allegedly harvesting and reselling critical identity information—including Bank Verification Numbers (BVNs) and N
     

Nigeria Probes Massive ID Fraud Black Market Invading Fintech Sector

28 juillet 2025 à 10:13

Nigeria’s bubbly fintech sector is under fresh scrutiny after the country’s anti-corruption agency uncovered a sprawling identity fraud scheme involving thousands of young Nigerians selling biometric data to digital finance platforms.

According to the Economic and Financial Crimes Commission (EFCC), over 12,000 individuals are allegedly harvesting and reselling critical identity information—including Bank Verification Numbers (BVNs) and National Identification Numbers (NINs)—to fintech companies for as little as NGN 5 K (~USD 3.33) per identity.

The illicit trade, described by the EFCC as a “threat to national security,” exposes a troubling weakness in the Know Your Customer (KYC) processes meant to secure Nigeria’s digital financial systems.

In some cases, scammers reportedly pay victims between NGN 1.5 K and NGN 2 K to surrender personal data, including ID photos, address details, and national ID slips. These details are then used to open accounts linked to fraudulent investment schemes, or to launder money via cryptocurrency and microfinance channels.

The alleged fraudsters, often referred to as “Account Suppliers” or “KYC Groups,” have created a black market for verified identities, exploiting the very infrastructure designed to enhance trust and access in the country’s digital economy.

While the EFCC did not publicly name the fintech companies implicated in the ongoing investigation, it confirmed that arrests have been made and that recovery efforts are underway.

The fallout has also reached Nigeria’s National Identity Management Commission (NIMC), which has moved to distance itself from the scandal. In a statement, NIMC’s spokesperson Kayode Adegoke denied institutional responsibility, stressing that the commission had repeatedly warned citizens against disclosing their NINs to unauthorised parties.

“The NIMC will not be held responsible for any personal information shared by an individual directly or by proxy for the purpose of financial gain,” the statement read. The agency encouraged the public to use its NINAuth mobile app to better control and protect their identity data.

Beyond the data-selling racket, the EFCC also flagged a parallel scheme involving malware and phishing. In one instance, victims were lured by a fake airline promo offering 50% off tickets in exchange for a NGN 500.00 “charity” donation. The scam prompted users to download a counterfeit app embedded with spyware capable of siphoning sensitive banking credentials.

Once accessed, victims’ funds were funneled into accounts, often opened with stolen identities, then converted to crypto to obscure the trail.

The revelations cast a shadow over Nigeria’s fintech boom, which has attracted billions in venture capital and positioned itself as a beacon of innovation and financial inclusion on the continent. The EFCC’s findings now raise urgent questions about compliance lapses and data protection standards in the sector.

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  • 10 Outrageous Startup Ideas That Actually Worked
    When people think “startup,” they imagine some hoodie-wearing genius building AI in a garage, or inventing the next impossible piece of tech that’ll “change the world.” But innovation doesn’t always come wrapped in code or complexity. Sometimes, it comes in the form of…a potato. Or a glitter bomb. Or a bag of air. And that’s the thing most people m
     

10 Outrageous Startup Ideas That Actually Worked

25 juillet 2025 à 15:27

When people think “startup,” they imagine some hoodie-wearing genius building AI in a garage, or inventing the next impossible piece of tech that’ll “change the world.” But innovation doesn’t always come wrapped in code or complexity.

Sometimes, it comes in the form of…a potato. Or a glitter bomb. Or a bag of air. And that’s the thing most people miss. The reason most startup ideas fail is that they’re poorly executed. How an idea is brought to life, packaged, marketed, and monetised can make all the difference.

This same applies to wild ideas. Even the strangest concepts can work when they’re packaged and marketed properly purpose.

And yes, some startups have taken off like that. The products were weird on purpose, but the founders behind them understood their audience and were smart in execution. They leaned into what made their idea unforgettable, doubled down on the absurdity, nailed the pitch and got the right people to buy in.

Although not all started with this intent to reach a broader audience, the success behind some of these startups shows that if you package a product well, you can reach a much wider audience that is willing to go “Take my money,” however weird the idea might be.

Here are ten of the most wonderfully weird, delightfully unexpected startup ideas that took off, even got funded, and in some cases, made a killing.

1. Potato Parcel

Potato Parcel lets you send a message to someone on a real potato. That’s the entire product.

You go to the site, type your message, and they print it on a spud and mail it. It could be a birthday note, a breakup line, or just a picture of your face. It’s absurd on purpose, and people love it for that.

Started in 2015 by Alex Craig, the business grew quickly. In just over a year, they generated over USD 215 K in revenue. When the founder pitched it on Shark Tank, Kevin O’Leary invested USD 50 K for 10% equity. Since then, it’s shipped over 70,000 potatoes worldwide.

Potato Parcel works because it’s a perfect mix of novelty and surprise. It’s a one-time gift that people can’t help but talk about. In a world of boring e-cards and recycled memes, this was just strange enough to break through.

2. Ship Your Enemies Glitter

The concept here is blunt. Pay a small fee and they’ll send your nemesis an envelope filled with loose glitter. It explodes when opened, getting everywhere. You stay anonymous. They get sparkled. Everybody wins. Or loses. Depends on who you ask.

When this site launched in 2015, it went viral overnight. The founder, Mathew Carpenter, received over 2,000 orders in the first 24 hours. He panicked, hated the attention, and sold the site for USD 85 K just days later. The buyer turned it into a long-term business and added new services like confetti bombs and spring-loaded glitter tubes.

This wasn’t about utility. It was about giving people a way to act out their feelings—anonymously, playfully, and with no real consequences. People aren’t buying glitter. They’re buying petty satisfaction.

3. Vitality Air

In the early days, Vitality Air started as a prank. Two Canadian entrepreneurs began bottling fresh air from Banff National Park and selling it online. The packaging looked like something from a health spa, but the product was air.

But in parts of the world where clean air isn’t guaranteed, it hit a nerve. When they launched in China, their first shipment of 500 bottles sold out in under a week. Since then, they’ve expanded to India, South Korea, the Middle East, and the UK.

Each can of air costs around USD 20 to USD 30, with some high-end versions going for more. The brand has grown far beyond novelty. It’s now marketed as a health and wellness item for urban professionals living in polluted cities.

4. Dinner in the Sky

Dinner in the Sky offers a fine dining experience, but suspended 150 feet in the air. A crane lifts a platform where guests are seated, belted into chairs around a table, with a chef and waitstaff in the middle. The menu is high-end. So is the adrenaline.

This started in Belgium in 2006. It sounded like a stunt. But the demand kept coming. It now operates in over 60 countries, hosting everything from private dinners to corporate events and tourism experiences. They’ve partnered with brands like Ferrari and Forbes. The company has since spun off into multiple franchises, licensing the concept around the world.

5. Unagi Travel

Unagi Travel is a Japanese company that runs tours for stuffed animals. Customers ship their plush toy to Tokyo, and it’s taken on guided “tours” of local sights. Along the way, it’s photographed at temples, shops, restaurants, and even trains. The toy comes back with photos and souvenirs.

This isn’t marketed to kids. It’s often used by adults, many of them dealing with anxiety, disability, or grief. The stuffed animals represent emotional comfort, and sending them on a journey becomes symbolic. Some say it helps them feel like they’re part of the trip, even if they can’t go themselves.

Unagi Travel has been covered by CNN, NPR, and the BBC. While exact revenue numbers aren’t public, they’ve handled thousands of plush travellers from over 30 countries.

6. Rent-A-Friend

Rent-A-Friend is exactly what it sounds like. You pay someone to hang out with you. That could mean going to a movie, grabbing lunch, attending a wedding, or just walking around the city. It’s strictly platonic, so no dating or romance. Just time and company.

Founder Scott Rosenbaum originally built it off the back of another business (a dating site), but Rent-A-Friend stood on its own. It launched quietly but picked up traction as loneliness became a more public issue. Not everyone has a circle of friends on standby, and sometimes people just want someone to talk to who won’t judge them or ghost them.

The idea was easy to dismiss at first. But since launching in 2009, the site has grown to hundreds of thousands of registered “friends” worldwide. Some earn up to USD 2 K a week, depending on availability and location. When you look at the way people crave connection, especially in cities where millions live side by side without speaking to each other, it makes sense. Rent-A-Friend stepped into that gap and built a business on something we usually take for granted.

7. Entomo Farms

Entomo Farms raises crickets and turns them into food. As in real food for real people. They grind them into flour, press them into bars, and use them in protein-rich recipes meant to replace traditional meat or dairy sources.

In Western countries, this still turns heads. But in other parts of the world, insects have been on the menu for centuries. What makes Entomo Farms different is that they’ve found a way to present it to new markets as clean, nutritious, and sustainable.

The company started in Canada and quickly positioned itself as a leader in the edible insect movement. It has since raised millions in funding, including a USD 3.7 M investment from investors like Maple Leaf Foods to expand production and distribution. Its cricket protein is now used in over 50 product lines across North America.

8. DoodyCalls

DoodyCalls is a pet waste removal service. You call them, and they show up to clean the dog poop from your yard. That’s the entire business.

It was founded in 2000 by Jacob D’Aniello and his wife after they realised people would pay to have someone else deal with their dog’s mess.

It’s grown steadily for over two decades, expanding across the U.S. and becoming the largest pet waste franchise in the country as pet ownership has exploded, and not everyone wants to deal with the mess. DoodyCalls took an everyday annoyance and turned it into a professional, reliable service.

DoodyCalls handles tens of thousands of service calls per week and was acquired in 2021 by Authority Brands, a major home services conglomerate.

9. Pavlok

Pavlok is a wearable device that shocks you when you engage in a habit you want to stop. If you bite your nails, hit snooze, or scroll too long on your phone, you get a jolt. Not enough to hurt, but enough to make your brain take notice.

Inventor Maneesh Sethi first built a prototype with duct tape and an Arduino. After blogging about hiring someone to slap him every time he used Facebook, the idea blew up. Pavlok raised over USD 284 K on Indiegogo, launched to strong press coverage, and eventually gained over 100,000 users worldwide. They later went on Shark Tank, where Sethi famously turned down Kevin O’Leary’s offer, calling him “Mr. Know-Nothing.” The moment went viral, and so did Pavlok.

It’s based on behavioural conditioning. Do the thing, get the shock. Repeat it enough times, and your brain starts to associate the habit with discomfort.

The concept sounds harsh, but it appealed to people who’ve tried and failed with softer methods.

10. And Vinyly

And Vinyly offers a way to press a loved one’s ashes into a vinyl record. You choose the music or audio. They handle the production. What comes back is a playable record infused with the physical remains of someone you lost.

The founder, Jason Leach, had worked in the music industry and saw a gap for something more meaningful than a standard urn or grave. The idea took off in niche death-positive circles and art communities. They’ve since been featured in VICE, The Guardian, and BBC, and the service costs around USD 4 K–USD 5 K per record, depending on customisation.

It’s not a mass-market service. It doesn’t need to be. And Vinyly found a small group of people looking for a different kind of closure, and it gave them a way to hold onto it.

If you look at every business here, they were born from an idea that sounded uninvestable, unscalable, or just plain weird. Yet each one carved out a customer base and made real money. Some went viral. Some flew under the radar. But they all proved one thing: There’s room in the market for strange ideas, as long as they’re built with care and delivered with intent.

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  • Senegal’s Eyone Medical Raises USD 3 M To Digitise West Africa’s Health Records
    Dakar-based healthtech startup Eyone Medical has raised USD 3 M from Oyass Capital, a new Senegalese government-backed private equity fund focused on scaling high-impact SMEs. The deal was announced at Oyass’s launch event, marking one of its first investments. Founded in 2015 by Henri Ousmane Gueye and John Diatta, Eyone provides interoperable digital health systems, including its flagship Shared Patient Record platform, which enables clinics and hospitals to securely shar
     

Senegal’s Eyone Medical Raises USD 3 M To Digitise West Africa’s Health Records

25 juillet 2025 à 11:56

Dakar-based healthtech startup Eyone Medical has raised USD 3 M from Oyass Capital, a new Senegalese government-backed private equity fund focused on scaling high-impact SMEs. The deal was announced at Oyass’s launch event, marking one of its first investments.

Founded in 2015 by Henri Ousmane Gueye and John Diatta, Eyone provides interoperable digital health systems, including its flagship Shared Patient Record platform, which enables clinics and hospitals to securely share and manage patient data.

The platform is used in over 60 healthcare institutions across Senegal, Mali, Côte d’Ivoire, Cameroon, Gabon, and France.

The new funding will help Eyone, which previously raised USD 1 M and secured another USD 300 K in prize money, integrate AI into its systems, enhance infrastructure, and expand across Francophone West Africa, where fragmented health records and inefficiencies remain major challenges.

The deal also reflects a growing trend of public-private co-investment in strategic sectors like healthtech, with governments like Senegal’s taking a more active role in startup funding.

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  • Ghana Moves To Regulate Cryptocurrency As Millions Embrace Digital Assets
    Ghana is taking decisive steps to bring cryptocurrency under official oversight, with plans to license and regulate digital asset platforms in a move that could reshape the country’s financial landscape. The Bank of Ghana is finalising a regulatory framework expected to reach parliament by September, according to Governor Johnson Asiama. This development comes as millions of Ghanaians have already embraced cryptocurrencies for daily transactions and cross-border trade, desp
     

Ghana Moves To Regulate Cryptocurrency As Millions Embrace Digital Assets

24 juillet 2025 à 18:02

Ghana is taking decisive steps to bring cryptocurrency under official oversight, with plans to license and regulate digital asset platforms in a move that could reshape the country’s financial landscape.

The Bank of Ghana is finalising a regulatory framework expected to reach parliament by September, according to Governor Johnson Asiama. This development comes as millions of Ghanaians have already embraced cryptocurrencies for daily transactions and cross-border trade, despite operating in a legal gray area until now.

The push for regulation reflects both the growing influence of digital currencies in Ghana’s economy and the challenges they pose to traditional financial systems.

With an estimated 3 million Ghanaians (about 17% of the adult population) using virtual currencies, authorities are keen to bring these transactions into the formal financial sector. Recent data shows Ghana recorded USD 3 B in cryptocurrency transactions between July 2023 and June 2024, per Web3 Africa Group, though this pales in comparison to neighboring Nigeria’s USD 59 B volume during the same period.

Governor Asiama acknowledged the urgency of regulation, stating “We are actually late in the game.” Many economic activities involving cryptocurrency payments currently escape official records due to the lack of oversight, creating blind spots for monetary policymakers.

This gap has become particularly problematic given the Ghanaian cedi’s dramatic fluctuations – the currency gained 48% over the past year following a 25% drop in the previous 12 months. Such volatility complicates inflation management in a country heavily dependent on imports.

The proposed framework aims to strike a balance between harnessing cryptocurrency’s potential benefits and mitigating its risks. Officials hope regulation will help stabilise the local currency, attract strategic investment, and improve financial transparency while protecting consumers from fraud. Kwame Oppong, head of fintech and innovation at the central bank, emphasised the need for safeguards, noting “Our goal for this whole process is to put safe guards and rails around it.”

With inflation at 13.7% and policy interest rates at 28%, the stakes for getting this balance right couldn’t be higher for Ghana’s economic future. As Ghana joins a growing list of African nations establishing cryptocurrency regulations, the coming months will reveal how effectively the new framework can reconcile innovation with financial stability in one of West Africa’s most dynamic economies.

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  • Knife Capital Backs Fintech And Healthtech With Two New Series A Bets In SA
    Cape Town-based venture capital firm Knife Capital is marking its 15th anniversary with a pair of new Series A investments into South African startups Sticitt and Optique; two tech-driven businesses tackling entrenched problems in school payments and eye care. Fintech startup Sticitt, founded in 2018 by Theo Kitshof, is digitising school payments while gamifying financial literacy for students. Its platform is used by over 75,000 users across 841 schools and has processed more than ZAR 6.3 B
     

Knife Capital Backs Fintech And Healthtech With Two New Series A Bets In SA

4 juillet 2025 à 15:44

Cape Town-based venture capital firm Knife Capital is marking its 15th anniversary with a pair of new Series A investments into South African startups Sticitt and Optique; two tech-driven businesses tackling entrenched problems in school payments and eye care.

Fintech startup Sticitt, founded in 2018 by Theo Kitshof, is digitising school payments while gamifying financial literacy for students. Its platform is used by over 75,000 users across 841 schools and has processed more than ZAR 6.3 B in transactions.

Beyond simplifying how parents pay for school services, the company, which previously raised seed funding in 2022, is positioning its youth banking tool as a driver of long-term financial inclusion. Knife’s investment builds on earlier backing via Grindstone Ventures, with this latest round intended to streamline the cap table and accelerate expansion.

Optique, launched in 2017, is challenging the traditional optometry model with a digitally enabled, low-cost offering. With 19 branches and an online store, the company targets under-served South Africans, offering ZAR 99.00 eye tests, all-inclusive pricing, and interest-free plans.

Founder Leon van Vuuren said the Knife backing will support national growth and bring world-class eye care to consumers left behind by legacy providers.

Knife Capital, which manages three funds, including the newly launched Knife Fund III, says these bets reflect a sharper focus on scalable, impact-driven innovation as it enters its next growth phase.

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  • A Telco’s Surprise Takeover Bid Offers Jolted & Jilted Jumia A Lifeline
    Jumia made headlines as the “Amazon of Africa” for much of the last decade, becoming Africa’s first tech unicorn and going public at USD 14.00 a share in 2019 before soaring past USD 50.00. But in 2025, it’s a complicated tale, exiting markets, shedding services, early backers pulling out, and its stock under USD 5.00. Today, a surprising player is in the wings, plotting a takeover of Africa’s biggest e-commerce company, reports suggest. The suitor is Axian Telecom, the Mauritius-based teleco
     

A Telco’s Surprise Takeover Bid Offers Jolted & Jilted Jumia A Lifeline

3 juillet 2025 à 12:19

Jumia made headlines as the “Amazon of Africa” for much of the last decade, becoming Africa’s first tech unicorn and going public at USD 14.00 a share in 2019 before soaring past USD 50.00. But in 2025, it’s a complicated tale, exiting markets, shedding services, early backers pulling out, and its stock under USD 5.00.

Today, a surprising player is in the wings, plotting a takeover of Africa’s biggest e-commerce company, reports suggest. The suitor is Axian Telecom, the Mauritius-based telecom and fintech group, which recently raised USD 600 M in bonds and quietly amassed an 8% stake in Jumia.

With telecom, mobile money, and brands like Yas and Mixx under its umbrella, which collectively fetched USD 1.1 B in revenue and USD 55 M in profit last year, Axian aims to integrate connectivity, payments, and commerce in one system. Its bond raise, reportedly oversubscribed threefold, was marketed as digital infrastructure capital.

The takeover bid is unfolding against the backdrop of Jumia’s own pivot. CEO Francis Dufay has spent the past two years cutting back—exiting non-core markets like South Africa and Tunisia, cutting services and staff, and narrowing operations to nine key countries.

He’s moved the company from reckless expansion to consolidating fundamentals: rural distribution, pick-up stations, logistics, and stronger margins. “We must deliver the numbers. Execution will rebuild our credibility,” Dufay told the FT last month. And he’s putting a timeline on it: profitability by early 2027.

The stakes are high. Chinese platforms like Temu and Shein are muscling in, using ultra-cheap prices and slick logistics to steal share. Jumia has responded by onboarding low-cost Chinese merchants, creating a Shenzhen team of 70, and folding their offerings into the marketplace.

“We believe we can fight them,” Dufay declared, arguing Jumia’s localised approach and product breadth give it an edge.

And yet the macro still bites. Jumia has weathered multiple currency devaluations across key African markets such as Nigeria and Egypt that crushed margins. Its 2024 revenue fell 10% to USD 167.5 M, with negative EBITDA exceeding USD 54 M; Q1 2025 brought further GMV decline, though Dufay noted orders were up 21% in constant currency.

However, despite GMV growth in constant currency, quarterly active users have stayed stagnant as it struggles to find new customers, and loss-making continued—USD 20 M in Q3 2024 and over USD 18 M in Q1 this year. Although, to their credit, Dufay’s cutbacks have slashed annual losses by over USD 150 M, core profitability remains elusive.

That’s where Axian enters the frame. Telecoms have infrastructure, connectivity, customer reach—and increasingly, money. Combine that with Jumia’s logistics and distribution strength, and that adds up to a digital ecosystem capable of bundling mobile data, mobile money, and e-commerce into one consumer offering. That synergy is reminiscent of what telecoms did in Asia.

Axian CEO Hassan Jaber has framed the bond raise as a strategic “digital infrastructure” play; the acquisition talks have already lifted Jumia shares in New York. And while Dufay has bet on rural Africa’s vast potential—“Africa is the last place on earth with massive untapped demand,” as he put it recently —that demand must translate into reliable repurchase behaviour and stable margins.

Yet the cleanup is underway. Jumia’s soft-exit from unsustainable ventures, its pivot toward Chinese-supplied assortment, and a renewed focus on efficient operations have laid the groundwork. Axian stepping in now indicates infrastructure capital may just write the next chapter.

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  • Kenya’s BuuPass Secures Funding From Yango Ventures To Expand Intercity Transport
    Kenyan mobility startup BuuPass has secured an undisclosed strategic investment from Yango Ventures, marking a new phase in its plan to digitise long-distance travel across Africa. The deal brings fresh backing from Yango Group’s newly launched USD 20 M corporate venture fund, focused on high-growth markets in sectors like B2B SaaS, fintech, and O2O platforms. Founded in 2016 by Sonia Kabra and Wyclife Omondi, BuuPass has become a central layer of digital infrastructure for Africa’s fragme
     

Kenya’s BuuPass Secures Funding From Yango Ventures To Expand Intercity Transport

2 juillet 2025 à 10:11

Kenyan mobility startup BuuPass has secured an undisclosed strategic investment from Yango Ventures, marking a new phase in its plan to digitise long-distance travel across Africa.

The deal brings fresh backing from Yango Group’s newly launched USD 20 M corporate venture fund, focused on high-growth markets in sectors like B2B SaaS, fintech, and O2O platforms.

Founded in 2016 by Sonia Kabra and Wyclife Omondi, BuuPass has become a central layer of digital infrastructure for Africa’s fragmented intercity travel and logistics sector.

Its platform enables consumers to book intercity buses, trains, flights, and parcel services while equipping operators with software for inventory, payments, and fleet management. Through APIs, mobile apps, USSD, and offline sales agents, BuuPass processes transactions across multiple layers of Africa’s informal transport economy.

The company now operates in Kenya, Uganda, Tanzania, and South Africa, working with over 150 transport providers. It processed over USD 70 M in bookings and sold 20 million tickets in 2024 alone. Last year’s acquisition of QuickBus in South Africa, on the heels of a USD 1.3 M pre-seed in 2023, bolstered its supply footprint and regional reach.

BuuPass CEO Kabra described Yango as a partner “who leans in with insight, not just capital” — a nod to the fund’s operational involvement. For Yango, it’s a bet on infrastructure as the enabler of inclusive growth in mobility. For BuuPass, it’s momentum in its bid to become the API for how Africa moves.

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  • Liquidity Is Costly. Ghana’s Liquify Raised USD 1.5 M To Sell It Cheaply To SMEs
    In much of Africa, trade isn’t held back by a lack of goods or buyers but stalled by cash flow. Exporters ship products, then wait 30, 60, sometimes 90 days to get paid. Banks, when they show up at all, take weeks to process financing and charge fees that make it unworkable for small firms. Ghanaian startup Liquify is betting that this friction can be abstracted, standardised, and sold as a scalable asset class. The company just raised USD 1.5 M in seed equity and additional debt financing
     

Liquidity Is Costly. Ghana’s Liquify Raised USD 1.5 M To Sell It Cheaply To SMEs

1 juillet 2025 à 11:36

In much of Africa, trade isn’t held back by a lack of goods or buyers but stalled by cash flow. Exporters ship products, then wait 30, 60, sometimes 90 days to get paid. Banks, when they show up at all, take weeks to process financing and charge fees that make it unworkable for small firms.

Ghanaian startup Liquify is betting that this friction can be abstracted, standardised, and sold as a scalable asset class.

The company just raised USD 1.5 M in seed equity and additional debt financing to expand its digital invoice-financing platform, which helps small exporters in Ghana and Kenya get same-day cash for unpaid invoices.

Since launching its beta in late 2024, Liquify has financed over USD 4 M in transactions, mostly agricultural and light manufacturing exports headed to Europe and North America, as it pursues a quest to close Africa’s USD 120 B annual trade finance gap.

The pitch is classic fintech: speed, automation, and bypassing banks. Liquify’s platform wraps onboarding, KYC, AML, credit scoring, and settlement into a streamlined process that clears invoices in hours, not weeks.

“The average bank process takes over 10 days and costs more than USD 10 K to serve a single SME,” said co-founder and CEO Nadya Yaremenko, a former Citi exec who managed a USD 3 B trade finance portfolio. “We bring that down to a fraction of the time and cost.”

But what Liquify is really doing is making trade receivables investable. The startup buys export invoices at a discount, offering liquidity to SMEs while giving global investors access to short-term, self-liquidating assets, unlinked from broader financial market swings. Investors get yield; exporters get working capital. Everyone avoids the banks.

Of course, there’s a reason this gap hasn’t been filled. The team has had to build trust with SMEs used to informal lending and persuade foreign investors that fragmented invoice claims from African exporters can function like an asset class.

Co-founder Alberta Asafo-Asamoah, who came from the impact investing world, saw up close how “patient capital” wasn’t fast or flexible enough to scale SME exports. Liquify is taking a more transactional route, one that looks less like aid and more like arbitrage.

With the new funding, Liquify plans to expand its risk and compliance engine, grow into Francophone Africa, and test structured investment products.

Whether African trade finance becomes fintech’s next frontier or just another category of repackaged risk may depend on how well the startup balances local complexity with global appetite. For now, Liquify is betting that Africa’s slowest money problem is also its most bankable.

The post Liquidity Is Costly. Ghana’s Liquify Raised USD 1.5 M To Sell It Cheaply To SMEs appeared first on WeeTracker.

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