Category: west africa
Ivorian fintech Julaya raises $2M to digitize business payments in Francophone Africa
There are over 1 billion mobile money accounts globally. Africa leads the way in transaction value and volume thanks to M-Pesa, largely used in East Africa. Other regions across the continent are also growing fast. In 2019, West Africa reported the most live mobile money services in any region, with…
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Ex-SafeBoda executive Babajide Duroshola joins M-KOPA to lead expansion into Nigeria
On June 18, Babajide Duroshola, ex-Country Head, SafeBoda Nigeria, stepped down from his role two years after taking the job post-Andela. Less than a month later, the executive has found a new role as General Manager in Kenyan company, M-KOPA. His appointment coincides with M-KOPA’s broader expansion strategy, which includes…
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Ghana’s Jetstream lands $3M to build the digital infrastructure for Africa’s trade corridors
The share of exports from Africa to the rest of the world ranged from 80% to 90% between 2000 and 2017. This has created a growing demand for Africa to be less dependent on commodity exports and focus on regional commerce. Not only does this decrease export dependence, but it…
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Novastar Ventures becomes $200M African VC fund after $108M raise
African startups have another $100 million in VC to pitch for after Novastar Ventures’ latest raise. The Nairobi and Lagos based investment group announced it has closed $108 million in new commitments to launch its Africa Fund II, which brings Novastar’s total capital to $200 million. With the additional resources,…
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Goldman backed ventures Jumia and Twiga partner on produce in Kenya
Pan-African e-commerce company Jumia and B2B agtech startup Twiga Foods are partnering to deliver produce in Kenya using adaptive measures during COVID-19. In 2019, Jumia became the first VC funded tech company in Africa to list on a major exchange, the NYSE. Based in Nairobi, Twiga raised a $30 million…
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Visa partners with Paga on payments and fintech for Africa and abroad
Visa has entered a partnership with Nigeria based startup Paga on payments and technology. Founded in Lagos, Paga scaled its fintech business in West Africa, before targeting expansion in Ethiopia and Mexico. The startup has created a multi-channel network for over 14 million customers in Nigeria to transfer money, pay-bills…
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