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    Telebirr’s Rivals Face a Steep Climb as Ethiopia Hikes Fintech Capital Rules

    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.
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    US VC MaC Backs Nigerian Fintech Carrot Credit in $4.2M Round, Eyes Africa With New $150M Fund

    MaC Venture Capital has previously backed African startups including Big Cabal Media (media), Afya Rekod (healthtech), and IdentityPass (identity verification).
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    UK Development Financier BII Backs Kenya’s ARC Ride with $5m to Expand Electric Motorcycle Network

    The UK has invested more than £600m in climate-related projects in Kenya over the past decade, ranging from off-grid solar to green manufacturing.
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    South Africa’s MIC Turns to Black Women Founders in Inclusive VC Push

    MIC, together with Grindstone — a business accelerator co-owned by Knife Capital and Thinkroom — has designed the programme to accelerate high-growth, Black female-owned businesses with scalable models.
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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.
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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.

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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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