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Kenya’s Copia Mulls Shutdown Amid Plans to Lay Off Over 1,000 Staff
The layoffs would be a drastic cost-cutting measure for the company.
- Categories
- Technology
- Region
- Sub-Saharan Africa
- Tags
- distribution, e-commerce, employment, failure, startups
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Techstars-Backed BlackCopper Set Out to Disrupt Lending, Now It Owes Investors ₦1 Billion
Despite its bright start and significant press coverage, BlackCopper soon faced an existential crisis: it could not recover over 60,000 loans disbursed to customers.
- Categories
- Investing
- Region
- Sub-Saharan Africa
- Tags
- digital finance, failure, fintech, lending, startups
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M-Pesa and Data Revenue Push Safaricom to First Profit Growth in Three Years
Revenues from M-Pesa grew 20% year-on-year, reaching $1 billion (KES140 billion) from $891.3 million.
- Categories
- Telecommunications
- Region
- Sub-Saharan Africa
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OpenseedVC Announces First Close of $10 Million Fund to Back Early-stage African Operators
OpenseedVC is a venture capital firm that plans to support operator-launched startups in Africa and Europe with their first investment.
- Categories
- Investing
- Region
- Sub-Saharan Africa
- Tags
- startups, venture capital
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Maad Raises $3.2M Seed Amid B2B E-Commerce Sector Turbulence in Africa
Maad, a B2B e-commerce startup based in Senegal, has secured $3.2 million debt-equity funding to bolster its growth in the western Africa country and to explore fresh opportunities in the wider Francophone region.
- Categories
- Investing, Technology
- Region
- Sub-Saharan Africa
- Tags
- e-commerce, startups
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Spatialedge, an AI Startup Based in South Africa, Secures $3.1 Million in Funding
Spatialedge, a South African startup providing data and applied artificial intelligence (AI) solutions, has raised ZAR60 million (US$3.1 million) to further its goal of revolutionising the retail sector.
- Categories
- Technology
- Region
- Sub-Saharan Africa
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Kubik Reportedly Becomes First Ethiopian Company To Earn A Multi-Million-Dollar Investment In Climate And Sustainability Solutions
Ethiopian sustainable tech startup Kubik has scored a first for the country: According to a press release sent to AFROTECH, it has raised $5.2 million in a seed round.
- Categories
- Environment, Investing
- Region
- Sub-Saharan Africa
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Renda, Which Provides Order Fulfillment for Businesses in Africa, Takes in $1.9 Million
Renda, which simplifies order fulfillment and retail distribution for businesses in Africa, has secured a $1.9 million pre-seed round.
- Categories
- Investing
- Region
- Sub-Saharan Africa
- Tags
- distribution, MSMEs, startups
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