-Amid the drastic pullback in global VC funding, the African tech ecosystem stands out with +8% growth from 2021.
-Debt funding doubled in volume to $1.5B, accounting for nearly a quarter of the total funding.
-Fintech, still leading, attracted 39% of the total equity volume; Nigeria retained the top spot with 23%
-Overall, Nigeria, South Africa, Egypt and Kenya remain the top investment destinations in Africa
-Nigeria retained the top rank, bringing in $1.2B in capital, despite a decline of 36% from 2021
Author: DigitalTimesNG
Abuja, Nigeria’s political capital, will play host to Policy makers and stakeholders in the digital economy ecosystem in the West African sub-region from January 31 to 1st February for the Digital Economy Regional Conference. The Conference is expected to discuss the future of the digital economy and intensify regional public-private partnerships for the region. The event is being hosted by the Ministry of Communications and Digital Economy on behalf of the Federal Government of Nigeria, in collaboration with the World Bank. Minister of Communications and Digital Economy, Prof. Isa Ali Ibrahim Pantami, who will deliver the keynote address at the…
Three Nigerian startups are among 11 African startups selected to join the third cohort of the Africa Startup Initiative Program (ASIP). The accelerator program is powered by Startupbootcamp AfriTech together with its founding partner and leading telecom giant, Telecel Group. The selected startups will receive an intensive three-month coaching and support program to accelerate their growth and benefits worth USD750,000. The startups will also have access to the global Accelerator Squared platform which has a complete library of content, group workshops, 1:1 mentoring, collaborative sessions with Entrepreneurs in Residence, and invite-only discussion forums with founders from around the globe. The…
Mobile internet traffic almost doubled in the last eight years, and today, more than 60% of all website traffic comes from people using mobile devices. But, as the global mobile data coverage gap continues to narrow, the price gap remains wide.
The cable system, measuring 45 000km in length with a design capacity of 180 Tbps, will interconnect Europe (eastward via Egypt), the Middle East (via Saudi Arabia) and Africa. Essentially, 2Africa will connect 19 countries in Africa and 33 countries in total.
The decision to leave an organization doesn’t just happen overnight
AFEX, Africa’s leading commodities exchange and commodities market player, has announced its expansion into Uganda, seven months after it first entered the East African continent. Similar to Kenya and Nigeria, farmers in Uganda will benefit from AFEX’s revolutionary tech-enabled services for agricultural producers. In its first year of operations, AFEX Uganda aims to reach 10,000 farmers and aggregate 15,000 metric tons of commodities, while extending its aggregation, storage, and financial inclusion services to Ugandan farmers and processors. Continuing its pan-African expansion plans, AFEX will be implementing its scalable model that combines advanced technology and infrastructure with a unique understanding of…
Konga, Nigeria’s leading composite e-commerce giant, has rewarded two additional shoppers with a spot in the highly anticipated all-expense paid Knowledge Weekend mentorship programme with the Chairman, Zinox Group, Leo Stan Ekeh. The two new winners are Mrs. Edith Omatedjor, a native of Delta State and Mr. Chris Godwin who hails from Edo State, with the number of winners now rising to eight. Both winners were selected randomly from shoppers participating in the current edition of the Konga Jara promotion which commenced on Tuesday, December 13, 2022, and will run through Tuesday, January 31, 2023. An annual festive season sale,…
In furtherance of its Naira Redesign policy and in recognition of the need to maximise the channels through which underserved and rural communities can exchange their Naira, the Central Bank of Nigeria (CBN) Friday launched a Cash Swap programme in partnership with Super Agents and Deposit Money Banks, DMBs. The programme enables citizens in rural areas or those with limited access to formal financial services to exchange old Naira notes for redesigned notes. Since the introduction of the new Naira notes, the apex bank has sustained its nationwide awareness and sensitization programmes, enforced speedy collection of the new notes at…
Airtel Nigeria has donated traffic booths to the Lagos Police Command as part of its commitment to support the activities of the police in ensuring the coordination and safety of Lagos Road users. The brief ceremony, which took place at the Lagos State Police Headquarters, Ikeja, on Thursday, January 19, 2022, was to officially hand over the traffic booths to the Lagos Police Command. Speaking at the ceremony, Director of Corporate Communications, Airtel Nigeria, Femi Adeniran, said, ” Over the years, Airtel Nigeria has worked closely with the Lagos Police Command, and we have collaborated on several initiatives with a…