Between January and June 2024 (H1 2024), startups in Africa raised $780 million. This represents a 31% decrease from H2 2023 figures and an even more striking 57% reduction from H1 2023. Two thirds of this money came from stock, and the…
Through a cooperation between Safaricom Ethiopia's M-PESA and East African money transfer service DahabShiil, Ethiopians living abroad will be able to send money straight to M-PESA mobile wallets. Through the agreement, remittances from the diaspora to Ethiopia would be made easier, resulting…
Felix Mutati, Zambia's Minister of Science and Technology, has said that the creation of an artificial intelligence (AI) framework is now underway within the government. According to Mr. Mutati, who posted a press release on his X page, Zambia is now developing…
Breega, a French venture capital firm, has declared the opening of Breega Africa Seed I, its first African fund, with the goal of becoming the premier early-stage investor in African entrepreneurs. To oversee its new pan-African fund, Breega Africa Seed I, the…
According to a recent analysis by the Africa Development Bank (AfDB), average consumer price inflation in Africa is predicted to have climbed by 3 percentage points to 17 percent in 2023 from 14 percent in 2022.
The report stated that the increase…
The International Monetary Fund (IMF) has ignited a debate in Nigeria's burgeoning crypto space. Their recent recommendation for mandatory licensing of global cryptocurrency exchanges in Nigeria has drawn mixed reactions, with the CEO of NoOnes marketplace, Ray Youssef, expressing concerns about stifling…
Africa's mobile money market is a powerhouse, with a staggering transaction value exceeding $767 billion in 2022 . This surge highlights the continent's growing embrace of digital financial solutions. However, there's another digital asset vying for attention: cryptocurrency.
While crypto adoption is…
Africa is experiencing a digital currency revolution, with cryptocurrency adoption growing exponentially. But in this rapidly evolving landscape, who reigns supreme as the biggest crypto vendor? While a definitive answer can be elusive due to the decentralized nature of the crypto market…
In a significant move, Ripple has announced its expansion into Africa, introducing XRP Ledger and crypto-native services, including custody, in the region. This development aligns with Ripple's vision to harness blockchain technology for cross-border payments and beyond.
Partnership with MFS Africa
Ripple…
Nigeria's recent move to delist the Naira from peer-to-peer (P2P) crypto trading platforms has sent shockwaves through the African crypto community. The stated goal? To combat alleged manipulation of the Naira's exchange rate. But will this bold step truly strengthen the Nigerian…