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    WESTERN AFRICA

    Remittance Fintechs Rake in Revenue as Nigerians Abroad Send Record $553M Home in July 

    In June, the bank issued a directive requiring banks and IMTOs to pay all diaspora remittances in Naira and match them with corresponding foreign currency inflows.
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    Ecosystem News

    African Tech Ecosystem Confronts Rare Suicide Cases Within One Month

    The African tech community is grappling with the shocking suicides of prominent figures within a single month.
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    WESTERN AFRICA

    Ex-Revolut and Sendwave Veterans Land $8M to Transform African B2B Payments with Waza

    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.
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    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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    African Startup Deal Tracker — Newest Deals

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

    EU-Backed Anara Capital Closes $48m to Fund North African Social Impact Startups

    Amsterdam-based Anara Impact Capital has secured a $48m first close for its debut fund, anchored by the EU and the German government.

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    The Anti-VC Pivot: Wasoko Founder Launches $100M Fund to Back Migration and Manufacturing

    "Venture-scale returns are only possible in a small subset of business models."
    Hard Talks

    From Profitability to $10M ARR: How Prembly Cracked Africa’s Identity Infrastructure

    "We’re processing around seven million unique verifications per month, up from 4.7 million."

    Latest articles

    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.
    Updates

    EU-Backed Anara Capital Closes $48m to Fund North African Social Impact Startups

    Amsterdam-based Anara Impact Capital has secured a $48m first close for its debut fund, anchored by the EU and the German government.
    Updates

    As VC Pulls Back, Cascador Bets $5.6m on Nigeria’s Growth-Stage Startups

    Seven ventures in clean energy, agriculture, AI and healthcare received catalytic funding from the Lagos-based accelerator, in a sign of continued investor appetite for Nigeria's real economy.
    Ecosystem News

    From African Mines to AI Data Labs: Soros-Backed Fund Targets Supply Chain Blind Spots

    The fund’s portfolio includes tools for worker voice, AI-powered supplier mapping and cleaner critical mineral processing.

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