4+ day, 10+ hour ago   (728+ words) Cape Town-based venture capital firm targets first close of R150m as it seeks to address a deepening structural shortfall in early-stage technology financing Grindstone Ventures has launched a R500m ($31.2m) venture fund aimed at high-growth, technology-enabled African businesses, targeting a persistent funding gap…...

6+ day, 9+ hour ago   (621+ words) The Africa Jobs Fund, a $100mn philanthropic venture vehicle launched by Wasoko founder Daniel Yu, has made its first investment in Velocity, a company that trains African nurses in German and places them in German hospitals. The investment will fund Velocity’s…...

1+ week, 4+ day ago   (349+ words) The International Finance Corporation, the World Bank Group’s private-sector investment arm, is expanding its exposure to North Africa’s property technology sector, backing companies that are attempting to digitise fragmented and often opaque real estate markets in Egypt and Morocco. The…...

1+ week, 5+ day ago   (456+ words) The French digital health insurer Alan, whose backers include football star Kylian Mbappé and technology investor Prosus, has acquired Senegalese digital health coverage provider Tanel, marking the company’s first expansion into Africa and signalling growing interest among European athletes in…...

1+ week, 5+ day ago   (806+ words) Shoprite Group, Africa’s biggest grocer by sales, has completed the acquisition of a 51 per cent controlling stake in R&A Cellular, a Mpumalanga-based fintech company that provides point-of-sale services to informal retailers across South Africa. R&A Cellular operates a…...

1+ week, 6+ day ago   (665+ words) IFC Eyes $4m Check in West Africa’s Gigmile as Asset-Financing Fintech Scales Launch Base Africa Search for an article IFC Eyes $4m Check in West Africa’s Gigmile as Asset-Financing Fintech Scales The World Bank Group’s private-sector arm is considering an equity investment…...

1+ week, 6+ day ago   (546+ words) Abwaab, the Middle East and North Africa edtech platform, has acquired Egyptian software provider Eduact, a move aimed at expanding the company’s reach into the region’s highly fragmented offline tutoring and learning center sector. The acquisition, announced on Tuesday, marks…...

1+ week, 6+ day ago   (459+ words) When Moove, the mobility company that began financing cars for Lagos ride-hailing drivers in 2019, closed a $250m Series C on August 5th, most coverage fixed on the headline number: a $2.1bn valuation, the largest disclosed African-linked funding event of the month by a…...

2+ week, 5+ day ago   (837+ words) Women hold 38% of board positions in South Africa’s JSE Top 40 companies. Yet they occupy only 27% of executive positions. Among the JSE Top 200, just 8% of CEOs are women. This should make everyone feel uncomfortable. South Africa has made measurable progress in…...

3+ week, 7+ hour ago   (285+ words) African Startup Deal Tracker — Newest Deals Launch Base Africa Search for an article African Startup Deal Tracker — Newest Deals While the spotlight often shines on headline-grabbing mega-rounds, the bedrock of Africa’s rapidly growing startup ecosystem lies in the consistent flow…...