Date Archives for 2017
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.
Peter Pedroncelli, 6:38 pm AFKI Original
Africa is a continent of great opportunity and potential, but as a whole, the continent needs to work to become more globally competitive for the benefit of industries such as tech to truly thrive. Africa competes for foreign direct investment with other emerging markets such as Asia, Latin America, and the Caribbean. Africa needs to address a number of key issues in order to rival their main competitors in the market and carve out a competitive landscape that will attract foreign direct investment. Africa’s average competitiveness ranking is 21 percent compared to Latin America and The Caribbean’s average ranking of 40 percent, and Asia’s average ranking of 57 percent.
Kurt Davis Jr., 1:32 pm AFKI Original
It is surprising how many business people assume Africa is behind the times in technology. Infrastructure may be a problem…but technology is a different story, and in fact, innovation and active appreciation for the wonders of technology are present throughout the continent. Sub-Saharan Africa, in many instances, can make a Western business person feel like they underuse their mobile phone…or simply feel behind the times when they do not know how to use M-Pesa.
Peter Pedroncelli, 6:15 am
While wearable tech is all the rage across the globe, Africa is not being left behind, with first quarter data showing impressive growth for the African region, alongside the Middle East. Wearable devices such as the Samsung Gear and Apple iWatch have gained traction in Africa, and the latest figures compiled by the International Data Corporation show an upward trend for the fashionable and functional accessories. The International Data Corporation’s Worldwide Quarterly Wearable Device Tracker for the first three months of 2017 illustrates that shipments of wearables were up 30.2 percent year-on-year.
Peter Pedroncelli, 5:08 am
Nigerian fintech startup NetPlus has worked in partnership with global payments giant Mastercard to develop an e-commerce solution that provides the Nigerian and wider African markets with more cashless payment options. The e-commerce sector in Nigeria and most of Africa is held back by the fact that cash is still widely used, but this partnership aims to address that and make a cashless consumer culture more attainable in the region.
Peter Pedroncelli, 9:26 am
The winners of the Facebook First Bots for Messenger Developer Challenge were announced this week, with submissions from Egypt doing very well. Egyptians featured prominently among the winners and runners-up of the three categories, as did Morocco. A total of 60 finalists from 64 countries in the Middle East and North Africa region were considered for the eventual winner’s prize, which included $20,000 in addition to three months of Facebook mentorship.
Peter Pedroncelli, 3:00 am AFKI Original
African tech innovators create jobs while finding solutions to modern African problems, and they deserve to be celebrated for the important role they play in society. Twitter has become a popular short-message platform in which to connect with the masses, and African innovators, along with the wider audience on the continent, have adopted the social media platform via mobile and desktop. Here are 12 African tech innovators who are worth following on Twitter.
Kurt Davis Jr., 12:06 pm AFKI Original
The African continent will continue to experience major urban development in the coming decades. Such urban development requires improved mass transport and freight-moving systems to support the population growth. Some urban planners even argue that mass transport networks are central to cities’ ability to control the expansion and better manage property development, while reducing travel times and boosting land values.
- Real Estate