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Spiro Raises $215 Million as Race for Africa’s EV Market Heats Up
The round, backed by investors including Impact Fund Denmark and Equitane, comes four months after Spiro secured $50 million in debt financing and less than a year after a separate $100 million equity raise led by Afreximbank’s Fund for Export Development in Africa (FEDA).
- Categories
- Energy, Transportation
- Region
- Sub-Saharan Africa
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Bolt Hikes Kenya Fares by 6% as Drivers Struggle With Rising Fuel and Living Costs
Estonian ride-hailing company Bolt has increased ride fares in Kenya by 6 per cent, becoming one of the first major platforms in the country to formally shift part of the rising fuel burden to passengers as pressure mounts on drivers’ earnings.
- Categories
- Technology, Transportation
- Region
- Sub-Saharan Africa
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dLocal and inDrive Launch Cashless Rides in South Africa
The partnership also aims to reduce driver exposure to fraud by lowering dependence on cash, though cash remains available for passengers who prefer it.
- Categories
- Technology, Transportation
- Region
- Sub-Saharan Africa
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Africa’s Firms are Not Growing—New Data Reveal a Jobs Challenge
Across 48 Sub-Saharan African economies, a firm that has operated for nearly three decades employs barely twice the workers it had at birth. The gap relative to high-income economies is large, structural, and costly.
- Categories
- Agriculture, Energy, Finance, Health Care, Investing, Social Enterprise, Technology, Telecommunications, Transportation, WASH
- Region
- Sub-Saharan Africa
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Three Questions for Five African Businesses: Insights from Sankalp Africa Summit’s ‘Enterprise Showcase’
The recent Sankalp Africa Summit featured an “Enterprise Showcase” where up-and-coming African businesses shared information about their work and missions. NextBillion interviewed five of these entrepreneurs and company representatives, asking each of them three questions: What are the main challenges you’re facing in running your business? What kind of support would help you overcome these challenges? And what’s one thing you wish funders understood about your business needs? Their responses reveal some of the innovative approaches and key issues that are emerging in Africa’s vibrant ecosystem of small and medium-sized enterprises.
- Categories
- Agriculture, Energy, Environment, Social Enterprise, Transportation, WASH
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Viewpoint: Are Tech Solutions Fixing Mobility in African Cities or Just Masking the Problem?
Ride-hailing and mobility apps do not build roads. They do not expand rail systems or redesign cities. Instead, they optimize access to what already exists.
- Categories
- Transportation
- Region
- Sub-Saharan Africa
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Skoot Technology Launches Smart Electric Tuk-Tuk In Kenya
The Skoot e3W runs on SUN Mobility’s battery swapping network. Drivers use swappable batteries instead of charging, allowing them to replace depleted batteries in minutes and return to the road.
- Categories
- Energy, Technology, Transportation
- Region
- Sub-Saharan Africa
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Zimbabwe Bans All Raw Mineral Exports
Africa’s largest lithium producer — whose stores make up 4.4% of global reserves — is a major supplier to China, which leads the world in refining the battery metal. But like other African countries, Zimbabwe is increasingly keen to maximize the value of its minerals by processing them at home before exporting.
- Categories
- Energy, Environment, Transportation
- Region
- Sub-Saharan Africa
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