Data About Africa's Tech Companies

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The Carlyle Group agrees to invest $40M in Nigeria's Wakanow
Global alternative asset manager The Carlyle Group said it had agreed to invest $40 million in Wakanow. An online travel agency, Wakanow is focused on West and East Africa with the main operations in Nigeria. Founded in 2009 in Nigeria, Wakanow is...
Two Kenyan health startups have secured $80k in funding from Villgro
Villgro Kenya, an early-stage incubator, has awarded two health startups grant funding. Each of the two startups - Maisha Meds and Turaco - secured $40,000 as well as incubation support. Maisha Meds is a software platform for rural pharmacists and...
RDB & Alibaba organizing a special fellowship for Rwandan entrepreneurs
Last year, Jack Ma visited Africa for the very first time. He went ahead and committed to empowering "1,000 entrepreneurs from developing countries in five years”. 200 of those would come from Africa. Jack Ma's goal was to be achieved through th...
Tunisia's retail giant Magasin Général acquires e-commerce startup Founa
Magasin Général (French for General Store), a leading retailer in Tunisia has acquired Founa. According to a local news site, they bought 80% stake in the startup. Though there are no details about the amount of the transaction. Founded in 2013 ...
French Spirits Group Pernod Ricard Buys Stake in Jumia
French spirits group Pernod Ricard is buying an unspecified stake in Jumia. This will allow it to become a “strategic shareholder” in Africa’s leading online retailer. The two companies will develop innovative distribution strategies in the ...
Zimbabwe's Cassava hits $3.7B valuation on first day of listing on ZSE
Cassava SmartTech, a former division of Econet, has listed on Zimbabwe Stock Exchange. This brings the number of companies listed on the exchange to 63. The company was also the first to list on the exchange since 2016. The company, trading under ...
Mastercard awards $2.8M to 3 companies from Uganda, Burundi & Malawi
The Mastercard Foundation Fund for Rural Prosperity (FRP) has announced that three companies from Burundi, Malawi, and Uganda will receive a total of $2,808,295. The amount is aimed at supporting projects that expand financial inclusion in rural Afri...
IFC to invest $1M into Flat6Labs proposed $10M Tunisia-focused fund
The International Finance Corporation is considering making an equity investment into Flat6Labs proposed Tunisia -focused fund. This is according to the documents we came across from the IFC. Flat6Labs Tunis is fundraising TND 30 million (~$10 mil...
Africa Tech Ventures closes $7.5M from AfDB for seed-stage investments
The African Development Bank (AfDB) has approved a $7.5 million investment into Africa Tech Ventures (ATV). The equity investment is part of the Boost Africa Investment Program. A joint collaboration between AfDB, the European Commission and the E...
RemitFund to become the world’s first African Diaspora Investment Fund
According to the World Bank, remittances to sub-Saharan Africa grew to $37.8 billion in 2017. These are forecast to hit around $39.2 billion this year and $39.6 billion in 2019. When this money remitted, it is for different purposes. From supporting ...
Egypt's leading bank establishes fintech-focused corporate venture arm
Commercial International Bank (CIB), one of Egypt’s leading banks, has established a corporate venture arm. CVentures, the corporate venture capital firm will focus on investments into FinTechs. There are no details about the fund size will be o...
D.light raises $41M to expand as well as buy out some existing investors
D.light, a provider of solar-powered solutions, has raised $41 million. The amount came from a consortium led by Inspired Evolution. The other partners include FMO, Swedfund and Norfund. According to d.light, they will use the funding to expand th...
South Africa's Fastvan closes $200,000 Seed round
Fastvan, a South African 'all in one' logistics startup, raised $200,000 in funding. According to Daud Nur, the founder, they closed the amount in October this year. It came from an angel investor they were not willing to disclose at the moment. T...
Rwanda's Kasha & Kenya's Arifu raise $250k from Optimizer Foundation
Kasha, an e-commerce startup that sells men's protection and contraceptives via an SMS-based, Arifu - an edtech startup -raised funding from the Swedish Optimizer Foundation. The foundation made the announcements towards the end of last month. The...
Nigeria's PrepClass raised $300,000 in their recent Series A
In August, PrepClass - an online tutoring marketplace - announced that it had raised its Series A. The amount came from Rise Capital. An American group whose only other investment in Africa, according to Techpoint, was in iROKOtv 5 years ago. But,...