MFS Africa, Africa’s largest digital payments network, has raised a $100 million Series C funding, an investment divided into two commitments: $70 million for equity and $30 million for debt financing. The investment was co-led by AfricInvest FIVE and two existing investors, Goodwell Investments and LUN Partners Group. CommerzVentures, Allan Gray
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You’re a startup founder. You have overcome every self-doubt standing in the way of you launching out; you have invested painstaking hours in defining your idea and building out your solution. You are convinced your solution is what the market needs. Definitely, without your solution in the market, the total user
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What is the first step you take when you want to launch a new business idea? Tell a mentor? Save up some capital? Find an investor? For Affiong Williams, founder and CEO of ReelFruit, it was leaving her comfortable job in South Africa to start a (almost unheard of) dried fruits
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Hundreds of Nigerian youth rallied across five states in the country to show support for the Nigeria Startup Bill (NSB). “This rally is to support and create awareness around the importance of the NSB. We also aim to commend the presidency for championing this initiative,” Tracy Okoro, State Engagement Lead at
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Only three per cent of African tech startup funding since 2013 has gone to companies with all-female founding teams. That is according to the “In Search Of Equity: Exploring Africa’s Gender Gap in Startup Finance” report released by research firm Briter Bridges and the World Bank’s Africa Gender Innovation Lab (GIL)
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Running a startup is hard. Not only do you have to come up with a good idea, but you also have to get customers, hire employees, manage your finances, and in this age of venture capital funding, get people to invest in your startup. On their own, these are challenging tasks
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A survey of more than 350 firms finds that resilience is an important byproduct of sustainability. The COVID-19 pandemic put the fundamentals of economics front and center. As global supply chains were disrupted early last year, inventories ran short and prices rose. Yet even when things seemed to be falling apart,
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In a deal subject to approval from the Central Bank of Nigeria, MFS Africa has signed an agreement to acquire Capricorn Digital, one of Nigeria’s largest digital solutions and distribution companies with a 90,000-strong agent network across the country, for an undisclosed amount. As the largest fintech interoperability hub in Africa,
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What is it about information systems that makes them so important in the modern world? Why are companies spending so much money on information systems and technology? Information systems are critical to running a firm on a daily basis and accomplishing long-term strategic goals. However, without significant investments in IT, entire sectors of
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Eden Life, a Nigerian business that digitizes home services, has raised $1.4 million in a seed round. The round was led by LocalGlobe, a venture capital firm based in the United Kingdom. Samurai Incubate, Future Africa, Village Global, Rising Tide Africa, and Enza Capital, all focused on Africa, took part. Customers can
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