Data About Africa's Tech Companies

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Research Brief: Africa-focused fund managers raised $1.094B in 2018
Africa's early stage and certain technology companies face the often life-threatening impediment of inadequate access to seed and early-stage funding. Fortunately, a number of developments that took place last year indicate that the trend is changing...
AfDB approves $25M Investment in Fund for Renewable Energy Projects
The Board of Directors of the African Development Bank Group has approved an equity investment of up to US$ 25 million in ARCH Africa Renewable Power Fund (ARPF), a US$ 250 million private equity fund for renewable energy projects across Sub-Saharan ...
CDC backs TheBoardroom Africa with $2M in funding
In a partnership to bring increased diversity to companies and organisations across Africa, CDC Group, the UK’s development finance institution, has announced that it will support TheBoardroom Africa (“TBR Africa”) with funding of £1.6m (~$2,0...
Goodwell Investments injects $2M into Kenya-based Copia Global
Goodwell investments, an impact investment and advisory firm focused on financial inclusion and sustainable development, has made a $2 million investment into Kenya-based Copia Global. "Goodwell Investments has acquired a share in Copia," the firm w...
Here's why we are retracting the mPharma article
Hello everyone, I am writing to inform you that we are retracting the article titled "Ghana’s mPharma secures $9.7M of the $12M it sought for its Series B" that we published on January 15, 2019. The basis for the retraction is that there are some e...
CDC commits $15M towards CCA's $100M Nigeria-focused SME fund
CDC, the UK’s development finance institution, has today announced a new investment designed to support high-growth SMEs in Nigeria. CDC has made a US$15 million commitment to CardinalStone Capital Advisors Growth Fund (“CCA”). CCA is a firs...
Ushahidi changes problem statement after securing grant funding
Ushahidi, a solution that was developed to map reports of violence in Kenya after the post-election violence in 2008, has secured an undisclosed amount in grant funding from The Rockefeller Foundation. "We are excited to announce that The Rockefel...
SolarWorks secures $2M in debt from SunFunder & MFX Solutions
SolarWorks – a pay-as-you-go (PAYG) company with operations in Mozambique – has secured a $2 million debt facility from SunFunder and US-based MFX Solutions. "We are expanding into new markets, with our first transaction in Mozambique with SolarW...
MFS Africa secures $2.5M to lower remittance fees to Africa
MFS Africa, a Johannesburg-based fintech, has secured £2 million (~$2,576,000) in funding from the UK's Department for International Development (DFID). The investment was announced yesterday by International Development Secretary, Penny Mordaunt, d...
Ethiopia's ride-hailing service proprietor secures additional funding
Zaytech, the proprietor of ZayRide - a ride-hailing service in Ethiopia - has closed an undisclosed amount of funding. The company, which made the announcement in a press release on December 30, 2018, also remained tight-lipped on who the investors w...
With over $38M raised last year, Egypt's Swvl expands to Kenya
Last year saw Africa's early stage and technology companies raise over $686.4 million in total funding, according to the Digest Africa Index. Egypt, with $68 million, was among the top five most funded countries. But, the most significant chunk of th...
YC startups in Africa have raised over $58.3M in total follow-on funding
Welcome to the first edition of Digest Africa Research Briefs. We shall be sending out at least one Research Brief a week, and the focus is on particular segments in Africa's tech ecosystem that need spotlighting. This week, we are taking an in-depth...
Microtraction's Yele Bademosi joins Binance Labs as a Director
Binance Labs has announced that Yele Bademosi joined them as a director. "We are thrilled to welcome Yele Bademosi to the Binance Labs team," the company wrote in a blog. Based in Lagos, Nigeria, Yele will focus on developing the blockchain ecosys...
AIIM invests $31M into BBOXX for a minority stake in its E. Africa business
BBOXX, a London headquartered solar company has raised $31 million in Private Equity from Africa Infrastructure Investment Managers (AIIM), which invested through its AIIF3 fund. In return, the Private Equity investor will get a minority stake in ...
Africa's technology companies recorded 454 deals worth $1.19B in 2018
Today, we release our very first report - Digest Africa INDEX - which summarises the investment into Africa's early stage and technology companies for the year 2018. Below are the excerpts of the Executive Summary and the Methodology we used. Plea...