Kenyan retail B2B and end-to-end distribution platform Marketforce laid off a chunk of its workforce in July, according to sources familiar with the matter.  In an email sent from Marketforce CEO Tes

African e-commerce giant Jumia reported its second-quarter financial performance today. In the wake of its financial reporting this morning, Jumia’s shares climbed sharply, gaining more than 15%

QED Investors, a U.S. fintech-focused venture capital firm, has led a new investment in TeamApt, a Nigerian fintech that provides business payments and banking platforms. The investment was over $50 m

Manufacturing plants or factories take raw material inputs and add value through a sequence of unit processes before shipping a product. Now, this process must follow a recipe. There are a series of i

Convertedin, an Egyptian startup that operates a marketing operating system for e-commerce brands, has raised $3 million in a seed round led by Saudi Arabia-headquartered Merak Capital. Other particip

It’s not often you hear about African tech companies expanding into Europe. Some examples include fintechs Lidya and Korapay in Eastern Europe and the U.K., respectively. In the latest developme

Sub-Saharan Africa’s share of the global population without access to electricity stood at 77% in 2020, according to reports. Also, the average daily electricity supply in some of Africa’s largest

Amazon Prime Video today announced the launch of the localized version of its streaming service in one of Africa’s biggest markets: Nigeria. Just as it did in Southeast Asia some days back, the tech

Kenyan logistics startup Sendy has laid off 10% of its 300-strong workforce, or 30 employees, according to pan-African news publication TechCabal. This is the latest public layoff news from Africa ov

This past month has seen several African fintechs such as Flutterwave and Union54 make headlines for compliance checks issues and fraud allegations. Both unlinked events re-emphasize the importance of

Oui Capital, an Africa-focused VC firm based in Lagos and Massachusetts, announced today that it has completed the first closing of its $30 million second fund, Oui Capital Mentors Fund II, as it seek

Zedcrest Capital, a firm known for its debt and equity capital markets investments but who recently started dabbling into venture investments, has launched a $10 million fund for pre-Series A stage st

Qwili, a startup that provides a hybrid sales product to micro and small merchants in South Africa, has raised $1.2 million in seed funding a year after closing an undisclosed pre-seed round. E4E Afri

The Fashion Kingdom (TFK), an Egyptian e-commerce marketplace for fashion, beauty and home accessories items, announced today that it has raised $2.6 million in seed funding led by CVentures, a corpor

Startups that solve the supply-chain and operational challenges of players in the fast-moving consumer goods (FMCG) industry — by helping buyers access products from sellers on a single platform

In April, startup accelerator Techstars, in partnership with ARM Labs, a Lagos-based innovation program focusing on fintech startups, announced the launch of ARM Labs Lagos Techstars Accelerator Prog

Cathay AfricInvest Innovation Fund (CAIF), a Pan-African fund launched via a partnership between AfricInvest, a multi-asset investment platform in Africa and Cathay Innovation, a European-born but gl

Bloom, a Sudan-based fintech that offers a high-yield savings account and adjacent digital banking services, has raised a $6.5 million seed round. This investment is coming after the startup’s undis

Last Friday, Barter, the consumer app of Africa’s most valued startup Flutterwave, told customers via email that they would not be able to access its virtual dollar card service from July 17. Hence,

This April, Black Coffee, the famed South African DJ and record producer whose real name is Nkosinathi Maphumulo, made history at the Grammys. With his seventh studio album “Subconsciously,” he be