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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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    The Commoditisation of LLMs Is Driving a Spree of Micro-AI Acquisitions

    Large language models can scrape the web, but they can't replicate deep domain expertise. From Cairo cold-emails to Cape Town acqui-hires, tech giants are paying up to buy niche capabilities.
    Ecosystem News

    IFC Eyes $90M Equity Stake in Airtel Money as London IPO Gathers Momentum

    World Bank arm joins proposed listing of African fintech processing $245bn annually.

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    Industry

    Is Talent Export the New Impact Thesis? Daniel Yu’s $100M Fund Makes Its First Bet

    Move signals fund's focus on labour migration as a pathway out of poverty.
    Industry

    Shuttlers Launches Carpooling Service as Rivals Race for Uber’s Market Share in Nigeria

    Findings by Launch Base Africa found that fares on several ride-hailing platforms operating in Nigeria have risen sharply since Uber’s exit.

    Latest articles

    Updates

    The Commoditisation of LLMs Is Driving a Spree of Micro-AI Acquisitions

    Large language models can scrape the web, but they can't replicate deep domain expertise. From Cairo cold-emails to Cape Town acqui-hires, tech giants are paying up to buy niche capabilities.
    Ecosystem News

    IFC Eyes $90M Equity Stake in Airtel Money as London IPO Gathers Momentum

    World Bank arm joins proposed listing of African fintech processing $245bn annually.
    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

    The Field Is Not Level

    Ray Langa, Group CEO, Leagas Delaney, writes from South Africa

    Disrupting Norms, Amplifying Ambitions: Experience the Pulse of African Startups, Innovation and Entrepreneurship at Launch Base Africa!

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