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African Remittance Startup LemFi buys UK Card Issuer
Remittance flows to low- and middle-income countries rose nearly 6% last year to $685 billion, according to a World Bank estimate.
- Categories
- Finance, Technology
- Region
- Global
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Guinea and Sierra Leone to Jointly Develop Fiber Optic Infrastructure
"This move is intended to boost digital interconnection between the two West African countries, with the promise of more stable, affordable, and competitive broadband services for telecom providers, businesses, and public institutions."
- Categories
- Technology, Telecommunications
- Region
- Sub-Saharan Africa
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Kenyan Startup Solar Panda Acquires Zambian Solar Firm In Expansion Move
"The acquisition adds more than 100,000 customers to Solar Panda’s portfolio and expands its operations beyond Kenya and Senegal."
- Categories
- Energy, Technology
- Region
- Sub-Saharan Africa
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Press Release: Kumulus Water Raises $3.5mln to Redefine Clean Water Access With Off-Grid Tech in MENA and Europe
"Backed by Bpifrance, PlusVC, Flat6labs, Khalys Venture and Spadel, Kumulus to scale Atmospheric Water Generators (AWS) that extract safe drinking water from air without infrastructure."
- Categories
- Environment, Technology, WASH
- Region
- Sub-Saharan Africa
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Africa Must Not Be a Spectator in its Own Economic Development: The Need for Pension-Backed Private Capital
Ghana’s startup ecosystem — like that of many African countries — is growing rapidly. But Amma Gyampo at Ghana Venture Capital and Private Equity Association points out that this growth is almost entirely funded by foreign capital. She argues that recent cuts in global development budgets have proven that over-reliance on foreign funding is not sustainable, and explains how tapping pension funds as a source of venture capital can provide a massive infusion of local funding into the continent's highest-growth businesses.
- Categories
- Investing, Technology
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Analysis: The Math Tutor and the Missing $533 Million
"From Dubai, the enigmatic founder of Byju’s recounts how he made his empire — and vows to rebuild it."
- Categories
- Education, Technology
- Region
- Asia Pacific
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Building a Better AgTech Funding Model in Africa: Three Key Challenges Behind the Ecosystem’s Loss of Momentum
Startups operating at the nexus of climate and agriculture in Africa have attracted over $1 billion in venture funding over the past decade. But as David Saunders and Ludovica Fioravanti at Briter and Harsha Vishnumolakala at CPI explain, despite the important role this funding can play in supporting innovative African AgTech startups, it has fallen to around $200 million a year — less than half the $500 million raised in 2022. They explore the risks this decline presents to the continent's AgTech ecosystem, and share three key priorities for building a better funding model in Africa and other emerging markets.
- Categories
- Agriculture, Investing, Technology
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South Africa Agri-Tech Startup Nile Raises $11.3 Million to Help More Farmers Trade, Transact Digitally
South African agri-tech startup Nile has raised ZAR200 million (US$11.3 million) in funding to accelerate its growth across Southern Africa.
- Categories
- Agriculture, Technology
- Region
- Sub-Saharan Africa
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