Tag: Rwanda
Andela CEO confirms staff cuts as layoffs hit African tech
Africa-focused tech talent accelerator Andela has let go 135 employees, CEO Jeremy Johnson confirmed to TechCrunch. Senior staff at the company — with offices in New York and five African countries — will also take salary cuts of 10% to 30%. The compensation and staff reductions are a result of…
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Africa e-tailer Jumia reports first full-year results post NYSE IPO
Pan-African e-commerce company Jumia got into the black (by a small amount) on its gross profit vs. fulfillment expenses, expanded financial services and still posted losses. The online sales company, with an operations center in China, also anticipates some negative impact on 2020 growth from the coronavirus outbreak, CEO Sacha…
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Sokowatch raises $14M to digitize Africa’s informal B2B supply-chain
Kenya based B2B e-commerce startup Sokowatch has raised $14 million in Series A funding toward its mission of revamping supply-chain markets for Africa’s informal retailers. From Nairobi, the company has created a platform that connects merchants directly to local and multinational suppliers — such as Unilever and Proctor and Gamble…
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African fintech firm Flutterwave raises $35M, partners with Worldpay
San Francisco and Lagos-based fintech startup Flutterwave has raised a $35 million Series B round and announced a partnership with Worldpay FIS for payments in Africa. With the funding, Flutterwave will invest in technology and business development to grow market share in existing operating countries, CEO Olugbenga Agboola — aka GB —…
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