Browsing: Innovation

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.

Egypt’s Convertedin has raised USD 3 million in a round featuring regional and international investors.

MENA unicorns set to emerge due to favorable regional conditions, according to a recent report by Saudi firm STV.