Business: Latest News
Peter Pedroncelli, 8:09 am
Ghanaian new media startup OMG Digital has raised $1.1 million in seed funding that will be used to help fulfill their growing reputation as the ‘BuzzFeed of Africa’. OMG Voice, the primary website run by the group, currently operates with versions in Ghana, Nigeria, and Kenya, and the new investment will go towards expanding the footprint of the brand to additional African territories. Known as the ‘BuzzFeed of Africa’ due to the company’s focus on creating content for millennials, the tech startup creates and curates listicles, pictorials, videos and memes with an African audience in mind.
Peter Pedroncelli, 4:39 am AFKI Original
Africans ascribe value to various tech brands that they use and love, with international businesses working hard to earn the trust and loyalty of the average African consumer. A growing middle class on the African continent is savvy and aware of what brands can offer them in terms of improving their lifestyle. Many of these brands have earned the respect and loyalty of African consumers, with BrandAfrica ranking them in terms of the most valued brands from an African perspective. We take a look at 12 of the most valuable global tech brands according to Africans.
Ann Brown, 3:07 am AFKI Original
Tanzanian coder Godfrey Magila has always loved technology. So much so, the 25-year-old actually taught himself to code. His tech innovations earned him a $200 prize at a countrywide hackathon, but the money was not the most valuable part of the prize, as the recognition included a tech mentoring program, which inspired him to become the tech mogul he is today. “I get to solve a lot of problems around my society and make a difference, and it requires a new version of myself every morning I wake up, as it’s an industry that is very time sensitive,” Magila told AFKInsider, revealing the driving force behind his career.
Peter Pedroncelli, 3:54 am
Naspers, Africa’s biggest company by market value, is set to approach American and British investors to discuss a bond issue in an effort to continue the expansion of their online businesses and interests through more acquisitions. Cape Town-based Naspers is a global internet and entertainment group that has built a reputation as one of the largest technology investors in the world. It owns stakes in numerous international companies including Multichoice, ShowMax, Mail.ru, Flipkart, PayU, Konga, Takealot.com, OLX and Chinese investment holding company Tencent, giving Naspers a market value of around $90 billion.
Staff, 9:10 am
AFROBYTES Tech Conference is undoubtedly Europe’s preeminent Africa-focused gathering of entrepreneurs, business executives, investors, academics, politicians and media interested in acting on the commercial opportunities presented by Africa’s tech and innovation industry. Earlier this month, the event was held in the heart of Paris for the second year in a row, and once again enjoyed the enthusiastic support of France’s largest employer federation, the Movement of the Enterprises of France.
Staff, 8:47 am
The world’s first commercial drone delivery service operates from a hill in the middle of Rwanda. From here, Zipline, a San Francisco-based robotics company, delivers blood by drone to almost half of all Rwanda’s blood transfusion centers. Orders are made online, by text, phone, or WhatsApp. An order has come in for a hospital about two hours away by car. The drone delivers the package in 20 minutes. “To have a proven model here first in Rwanda is amazing,” says Maggie Jim, Zipline.
Staff, 8:32 am
Epicor customer event highlighted how local businesses can use technology trends and strategies to become regionally and globally competitive. Driven by significant growth in smartphone adoption, Africa is poised to become the skills pool for the world. Underpinned by innovation solutions derived from trends such as the Internet of Things (IoT) and data analytics, the continent has become an attractive target for international investment. This is according to Arthur Goldstuck, World Wide Worx.
Staff, 11:33 am
London and Nairobi-based venture firm TLcom Capital has raised $40 million for its new Africa fund. The target is $100 million. TIDE Africa Fund will focus on tech startups in Sub-Saharan Africa. TIDE Africa Fund will make investments between $500,000 and $10 million per company. TLcom Capital, the VC fund started in London two decades ago with more than $300 million under management and tech investments announced that commitments to the TIDE Africa Fund have hit US$40 million.
Staff, 11:14 am
African startups can now score capital commitments real time―so long as they convince a venture capitalist to give it to them in front of a live audience. That’s the format for “Face The Gorillas,” a Rwandan IT pitch series that runs several times a year on local TV, YouTube, and at events. The competition was originally conceived in 2013 by Yariv Cohen and wife Angela Homsi―who became engaged in Rwanda’s tech scene through impact investment firm Kaenaat and the Ignite Power Solar initiative.
Staff, 10:43 am
Africa is known as the motherland, the birth of mankind, where it all began. Yet for many years it has also been called the “dark continent” due to the rate of development of many countries. This perception is changing quickly, with hundreds of tech hubs, who are creating cutting-edge technology products and services, popping up all over the continent, making the rest of the world take notice. A tech hub is an area of IT landscape by which people come together and breed innovations.
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