This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
and Senegal-based mobile money provider, has raised $200 million in Series A round of funding. The mobile money market in sub-Saharan Africa is growing exponentially. But despite being one of the largest alternative financial infrastructures known globally, this represents only a fraction of the overall market. . Wave , a U.S.
Wave, an African fintech that offers mobile money services in Senegal and Ivory Coast, laid off about 15% of its workforce last month. Thus, the layoffs affected almost 300 employees, most of whom worked in Wave’s new markets: Burkina Faso, Mali and Uganda. However, its staff cuts across its five markets, Tunisia, Kenya, the U.S.,
Multinationals like Amazon and Alibaba have leveraged logistics infrastructure such as UPS and FedEx to create large businesses. PAPS , a Senegal-based logistics and delivery company, is filling this gap in its region by offering customers various logistics services. Initially , PAPS operated a consumer-to-consumer logistics model.
After selling their hospitality tech startup, Teranga, in 2018, Senegalese brothers Moustapha and Alioune Ndoye ventured into the trucking business as they pondered their next move. Some market research made them aware of the full extent of inefficiencies in the trucking business, which especially limited the earnings of owner-operators.
The company, which facilitates B2B payments for businesses in Francophone West Africa, mainly via mobile money channels, has raised a total of $7 million in the financing round. . In Ivory Coast, one of Francophone Africa’s largest mobile money markets, 75% of the population own a mobile money account, compared to 20% who hold bank accounts.
And in trying to sweet-talk investors, what’s not taken into context or often disregarded is that Africa is a fragmented $3 trillion market. Trade has the least startup activity in a market that received $5 billion in VC funding last year. The continent is also home to more than 1.2
Now it’s set a goal of investing in 100 more startups with the launch of its second emerging market seed-stage fund, called Seedstars International Ventures II (SIV), with a first close of $20 million. We’re really looking to diversify holdings, leveraging learnings from one market to another,” said Sosrodjojo.
Smile Identity , a KYC compliance and ID verification partner for many African fintechs and businesses, has acquired Inclusive Innovations, the parent company of Appruve , a Ghanaian developer of identity verification software. Other prominent use cases include AML checks, customer onboarding and fraud prevention.
At a time when the global economy has been under pressure, Taptap Send saw business grow eight-fold, the company said. Taptap Send believes that its unique place in the market is that it has built not just the easiest, but the most reliable system to initiate, manage and receive those transfers.
r Internationale Zusammenarbeit (GIZ) will train managers of leading accelerators in Africa over the next two years, to help them establish sustainable business models that commandeer greater influence in their ecosystems. Silicon-Valley based VC firm 500 Global and German’s economic development agency Gesellschaft fu?r
“In managing the operations directly ourselves … we went from an asset-light backend distribution software platform to this market-facing platform that was out there delivering goods directly to shops themselves.”. And what started in Kenya soon scaled into neighboring East African markets Tanzania, Rwanda and Uganda in 2018.
It is nearly impossible for businesses in some African countries to receive money from PayPal. Via this partnership, African businesses can connect with the more than 377 million PayPal accounts globally and overcome the challenges presented by the highly fragmented and complex payment and banking infrastructure on the continent.
These challenges befall millions of micro-retailers across the continent, and Betastore , a B2B retail marketplace for informal retailers, is working to resolve in Nigeria, Ivory Coast and Senegal. We plan to enter new markets before the end of the year and to expand to 100 cities across Nigeria, Ivory Coast and Senegal.
While traditionally busymarkets like North America and Europe benefited from the explosion in capital, other regions with more nascent startup scenes also saw big gains in their ability to attract funding. The Exchange explores startups, markets and money. Chargel, based in Senegal, recently raised $2.5
The power grid supply in Africa is erratic and inconsistent, affecting rural and urban households and businesses. For restaurants or neighborhood stores dealing with perishables, frozen foods and beverages, having intermittent electricity inhibits the growth of their businesses. million in seed funding.
A region of more than 200 million people using the CFA franc, Francophone Africa is one of the most crypto-friendly markets in Africa. But only a few players are taking advantage of the market, which can make a case as the next frontier for mobile money and investment apps in Africa.
The concept is ubiquitous in East Africa, but since mobile money is a telecom operators-led initiative, there are technical complexities in creating a unified infrastructure for businesses that need it. The company is led by CEO Nikolai Barnwell , betPawa’s former head of New Markets, Africa. PawaPay , a U.K.-based
Automotive e-commerce company Autochek has expanded to new markets in Africa after acquiring CoinAfrique, a classified ad marketplace, nearly two months after the Nigerian startup acquired Moroccan auto marketplace KIFAL Auto , marking its foray into North Africa. CoinAfrique classifieds ads marketplace is active in 12 Francophone markets.
Partech Shaker , the innovation division of the Paris-based VC firm Partech , has launched an accelerator program christened Chapter54 to help European startups launch in African markets. We are going to help them to reinvent the way they operate their businesses (to enter African markets).”.
Briter Bridges, for instance, avoids using geography to define an African startup due to factors contributing to business identities like taxation, customers, IP and management team. Senegal took the fifth spot with $353 million, while Ghana was sixth ($167 million). In 2021, Nigeria retained the first spot ($1.8 or the U.K.
With other outlets like media publications WeeTracker and Disrupt Africa disclosing different results for the African venture capital market, we compared and contrasted their results last year. Senegal, the region’s top destination for VC funding dropped from $16 million in 2019 to $8.8 Regional and gender diversity check.
Agriculture insurance has traditionally relied on farm business. However, the fact remains that across Africa and other emerging markets, there are still millions of smallholder farmers with risks to their livelihoods that have not been covered.” In the U.S. Pula co-founders and Co-CEOs (Rose Goslinga and Thomas Njeru).
The company also just closed on $14 million in funding to expand its business across Africa. One is access to markets , which alone is a huge source of food waste, and the other is food security because of a lack of stable growing conditions exacerbated by climate change. But growing up, Ibrahim was told stories about East Africa.
.” The Ivorian startup acts as an online and point-of-sale payment solution for merchants to process payment from more than 130 different payment operators — mobile-money, bank cards, wallets — in nine French-speaking African countries: Ivory Coast, Senegal, Cameroon, Mali, Burkina Faso, Togo, Congo, Guinea and Benin.
In addition to Tunisia, GOMYCODE is present in Bahrain, Morocco, Egypt, Algeria, Ivory Coast, Senegal and Nigeria. It offers over 30 learning tracks ranging from web development to digital marketing and data science to artificial intelligence. There are a lot of impact and mass market players. GOMYCODE utilizes the latter.
Part of the funding will go toward increasing access to clean energy for off-grid households and businesses in the region. The fund invests in at least half of companies that explicitly address the energy needs of women consumers and entrepreneurs in Africa, and those offering renewable energy solutions to businesses and households.
Appzone, having built both banking and fintech layers, wants to connect individuals and businesses to their services. Other countries with a presence include the Democratic Republic of Congo, Ghana, Gambia, Guinea, Tanzania and Senegal. Before now, Appzone closed a $2 million round from South African Business Connexion (BCX) in 2014.
Packages handled by Jumia Logistics, its delivery business over the Black Friday season, reached 5.3 The e-commerce platform is available in 11 markets across Africa, including Algeria, Senegal, Tunisia, Ivory Coast, Uganda and Morocco. Nigeria, South Africa and Kenya account for most of the online sales on Jumia.
In February 2020, as the world was shutting down, and as businesses downsized on account of the Covid pandemic, John Kamara was busy establishing another new startup Adanian Labs in Nairobi, Kenya’s capital. It may have been a tough period to build a business but they sailed through with their mission. “We
From hospitality to fleet management : Two brothers in Senegal are putting their hospitality management skills to work helping trucking companies with their logistics. For example, raising funds to scale up sales and marketing efforts might sound great, but what if the business itself has negative unit economics?
And while the pitches are diverse, some concentrations show key ways that a group of vetted entrepreneurs are thinking about the landscape’s shift in light of finicky venture markets, a downturn, and some public market meltdowns. Swizerland, India, Nigeria, Senegal and other geographies. And this batch supports that realization.
It was the perfect marketing required to onboard several customers in Africa and challenge Binance , the world’s largest crypto exchange by volume, for market share. But as FTX and its chief executive undergo criminal investigation, this event will push forward regulatory changes for crypto across various markets.
Jumia reaches lowest losses in four years under new management In Q4 2022, Jumia embarked on a streamlining effort that reduced its headcount by 20%, affecting 900 roles across 11 markets. Building supply is the right thing to do, especially in a tough market and macroeconomic context. People want cheaper products and better deals.
According to the accelerator, six new countries home to these companies are making their appearance for the first time : Algeria, Tunisia, Senegal, Chile, Brazil and Singapore. YC says 16% of the companies in its current list (44 out of 267) are based outside the U.S., compared to its first list, which included just seven non-U.S.
We are here to talk about the next wave, what are those emerging trends in nonprofit social media marketing. We’re going to talk about Emerging Trends in Nonprofit Social Media Marketing. I am a former development and marketing director. Peace Corps in Senegal in West Africa. I actually loved marketing.
Pedro Aznar, professor of economics with the Esade Business School in Barcelona, said the influx of foreign workers has helped Spain fare far better than Germany, the traditional motor of Europes economy, whose manufacturing industry is in crisis. We had two ways to deal with the challenge, the minister, Elma Saiz, told the AP.
We organize all of the trending information in your field so you don't have to. Join 12,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content