Browsing: Innovation
Fintech accounts for 23% of VC investments in the region since 2020, according to the MENA Data Insight Report from GPCA.
The Rockefeller Foundation will work with e-GUIDE and Atlas AI to promote climate resilient infrastructure investment and economic development.
According to a report by McKinsey and Company, one of the world’s leading business analysis and consultancy firms, Africa’s fintech industry could see revenues soar to USD 30.3 billion by 2025.
SubsBase, a subscription and recurring revenue management platform, closes its seed round with regional and international support.
African tech investment is dominated by Nigeria, Egypt, Kenya and South Africa, according to a report by Disrupt Africa.
AfricInvest Maghreb Private Equity Fund IV, administered by AfricInvest, a leading African investment platform, has invested USD 30 million in a Pre-Series B funding round in ArabyAds, a leading MENA region AdTech firm.
The Group 42 fund will operate as a private equity investor and will target high-growth markets.
Egyptian fintech firm Lucky has signed a partnership agreement with Egyptian on-demand warehousing and fulfillment platform, Khazenly. Lucky is a digital rewards app, users of which enter a points reward system to obtain discounts on purchases from over 20,000 local and international brands.
Tech African Women (TAW) is a joint initiative by the United Nations Economic Commission for Africa (ECA), in partnership with tech venture firm Betacube. TAW seeks to support female-led idea stage startups from Ethiopia, Senegal, Tanzania and Tunisia.
Appetito, an Egyptian online grocery service and Purity, a Saudi-based IT infrastructure firm, have signed an MoU to expand the former’s services across the MENA region.