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    Ecosystem News

    Ecosystem News

    Jumia Raises $99.6M in New Offering as Currency Depreciation Hits Key Markets

    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.
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    Ecosystem News

    FIDO Bags $10M Investment to Democratize Finance in Africa

    FIDO’s recent $10 million funding round follows its successful Series A raise of $30 million in 2022, which was led by Fortissimo Capital.
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    NORTHERN AFRICA

    Wattnow Taps into Lateral Frontiers Fund to Accelerate Global Expansion

    Wattnow has already made significant strides in the market, with its solution deployed on over 500 sites across three continents.
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    Ecosystem News

    Egypt and South Africa to the Rescue: dLocal’s ‘Africa Plan B’ Suddenly Looks Effective

    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.
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    LoftyInc Backs Morocco’s WafR in $4M Push to Digitalise the Corner Shop

    Founded in 2021 by Ismail Bargach and Reda Sellak, WafR has transitioned from a loyalty-app pilot to a critical piece of financial infrastructure.
    Updates

    African Startup Deal Tracker — Newest Deals

    Here’s a closer look at the notable under-the-radar investment activity we’re tracking this month.

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    Partner Content

    Zero Fees vs. High Inflation: Why Cisco Is Doubling Down on Affinity Africa’s ‘Freemium’ Math

    When Affinity received its Savings and Loans license in 2022, it was the first such permit granted in over a decade.
    Partner Content

    Africa’s Growth Problem Isn’t Capital. It’s Leadership Without Collaboration

    Africa’s future won’t be determined by how much money arrives. Ray Langa, Group CEO of Leagas Delaney, writes from Cape Town

    Latest articles

    Updates

    LoftyInc Backs Morocco’s WafR in $4M Push to Digitalise the Corner Shop

    Founded in 2021 by Ismail Bargach and Reda Sellak, WafR has transitioned from a loyalty-app pilot to a critical piece of financial infrastructure.
    Updates

    African Startup Deal Tracker — Newest Deals

    Here’s a closer look at the notable under-the-radar investment activity we’re tracking this month.
    Corporate Governance Forum

    A Fractured Leg, a Pregnancy, and an Empty Promise: The Human Cost of a Nigerian Fintech’s Collapse

    A Nigerian fintech raised $2.6m from marquee investors, promised its employees fair treatment, and then shut down. A Nigerian court has spent two years untangling what it left behind.
    Ecosystem News

    Malagasy Infrastructure Firm Axian Targets Nigeria’s Clean Energy Market with DFI-Backed Expansion

    AXIAN’s entry is timed with the World Bank-supported DARES (Distributed Access through Renewable Energy Scale-up) program.

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