The Cairo-based firm has quietly returned more than ten times invested capital to its first fund. Its method - rooted in infrastructure built two decades ago for mobile telecoms - is worth examining.
Investors were likely drawn to Waza’s rapid growth trajectory. Within five months, the company increased its monthly payment volumes from $280,000 to $70 million, translating to an annualized volume of $700 million.
The launch of “Boost Up Lab” in Tangier follows the successful conclusion of a similar program in Casablanca. The Casablanca edition attracted 45 participants and resulted in a significant increase in revenue and job creation for participating startups.
Jumia’s capital raise comes in the wake of its financial results for the first half of 2024, where the company reported $85.37 million in revenue — a slight increase from $85.28 million in the same period the previous year.
Established in 2020 with a capital of 1.2 billion Algerian dinars ($8.9 million), the Algeria Startup Fund is a joint venture between the Ministry of Knowledge Economy, Startups...
Africa remains a bright spot for the fintech giant...The region now makes up 23% of dLocal’s total gross profit, underscoring the continent’s growing importance to the company.
While the EFCC did not disclose the identities of the wallet owners in its application, insiders have indicated that the wallets are connected to individuals involved in organizing the ongoing protests against the Nigerian government.
The Cairo-based firm has quietly returned more than ten times invested capital to its first fund. Its method - rooted in infrastructure built two decades ago for mobile telecoms - is worth examining.
Disruptions to tanker traffic through the Strait of Hormuz — which typically handles 20% of global oil flows — have slashed exports through the corridor from 20 million barrels per day to 3.8 million during peak disruptions.
