“We’re seeing more founders not only building for East Africa but with ambitions for global expansion.”

As pressures mount in Africa's nascent startup scene, more founders turn to familiar sources for support - and it's rarely their investors or even their colleagues.

In 2023, Ghana received US\$2.4 billion in personal remittances, which is estimated to account for about 6% of the country’s GDP. This makes Ghana the second largest recipient of remittances in sub-Saharan Africa, after Nigeria.

Google states that past beneficiaries from the Black Founders Accelerator and Black Founders Fund, spanning Africa, Europe, Brazil, and the United States, have collectively received over $30 million in funding to expand their businesses.

Abdel Fattah was no stranger to the tech industry, having accumulated over 23 years of experience, including a decade in e-commerce.

This age shift is expected to bring millions of new users into Egypt’s formal banking system.

Zedcrest Group, through its venture arm, Zedcrest Capital, which led the $10 million pre-seed round two years ago, retains a minority interest but exercises strategic oversight.

The Tunisian auto-entrepreneur card is open to all legal-age freelancers operating in over 100 approved industries.

Efreshli recently launched its first flagship showroom in Cairo, offering customers a tactile experience that complements the online platform.

According to FSCA statements, Banxso reportedly contacted clients, implying that its FSP license had been reinstated and that it could legally resume trading activities.

The termination marks a significant shift in Jumia’s strategic direction, allowing the company greater flexibility to work with multiple financial service providers.

Gregory Johnson, co-founder of mPharma, left behind a promising career at Google to return to Africa and confront the challenges in healthcare head-on.