Mobility technology company reports first annual profit since going public, but auditors raise going concern doubt and Nasdaq listing remains under threat
As African startups mature and pressure grows for profitability and impact, models like COREangels MEA — which blend financing with operational expertise — may become a more common fixture.
Founded to address the fragmented nature of material sourcing in Nigeria, Cutstruct offers a digital marketplace where developers and contractors can procure all their building materials in one place.
Ethiopia’s mobile money market has boomed in the past three years, led by Telebirr — operated by the state-owned Ethio Telecom — which claims over 40 million users.
MaC Venture Capital has previously backed African startups including Big Cabal Media (media), Afya Rekod (healthtech), and IdentityPass (identity verification).
“We’ve built a differentiated model that has consistently delivered growth and profitability despite limited access to capital and tough macro conditions."
Mobility technology company reports first annual profit since going public, but auditors raise going concern doubt and Nasdaq listing remains under threat
From Nigerian defence contractors to Kenyan logistics software, a new cohort of well-capitalised tech firms is bypassing traditional hubs to set up operational bases in Accra.
