Business: Latest News
Staff, 8:47 am
Africa is on fire. That has nothing to do with climate change, but with investor interest and technology momentum. Life expectancy in Africa increased eight years and this burst of life is being replicated in its tech ecosystems.From Cairo to Kigali, Cape Town to Lagos, Nairobi to Accra and Kampala to Dakar, tech hubs are rising faster than the cities that contain them. African software company Andela raised $40 million to connect Africa’s engineering talent into the global technology ecosystem.
Peter Pedroncelli, 5:56 am
New data technology company 4Sight Holdings made their debut on the Johannesburg Stock Exchange (JSE) this week. Tech company 4Sight Holdings officially listed on the JSE’s Alternative Exchange (AltX) on Thursday, 19 October 2017. This is the first new tech listing on the South African bourse in almost three years. The last IT-related tech listing on the South African exchange was services sector company Cartrack in December 2014.
Peter Pedroncelli, 5:15 am AFKI Original
The Seedstars Dakar Competition served as the Senegalese leg of the global early-stage startups competition for emerging markets. The competition took place at the end of September, with 9 of the best startups aiming to be the representative from Senegal for the global final event next year, with more African countries taking part than ever before. Seedstars World holds these events in over 65 countries before winners are selected to take part in a grand final.
Peter Pedroncelli, 4:50 am
Airbnb has made a commitment to invest $1 million in community-led tourism projects across the African continent over the course of the next few years. Airbnb, the mobile app-based hospitality booking site which allows people to make their homes or spare rooms available to visiting guests for a fee, will invest $1 million in community-based African tourism projects between 2018 and 2020.
Peter Pedroncelli, 5:41 am
E-commerce giant Jumia have expanded their online small business loans program to more markets across the African continent. Jumia, Africa’s first startup unicorn, has extended the program they launched in May, providing the small scale loans to merchants in all of the African countries in which it operates. Jumia has partnered with San Francisco-based mobile lender Branch to provide the loans to vendors, with the program proving successful in Kenya since May.
Peter Pedroncelli, 5:13 am
Uber is committing itself to the Egyptian market despite economic difficulties in the country, announcing a new support center in the capital that will see an investment of $5 million. The taxi-hailing startup has launched a support center in Cairo, with $5 million set to be spent on the project over the next five years, creating employment for 700 Egyptians as a result. Uber had two million users and provided jobs for 60,000 drivers in Egypt last year.
Peter Pedroncelli, 8:23 am AFKI Original
Africa is fast becoming a key global tech market, and many of the tech leaders of tomorrow are emerging from the continent. Well-educated, innovative and with leadership qualities that make them stand out among their peers, Africa’s current crop of young tech influencers are impressive. From techpreneurs to investors, business leaders to top innovators, this list of African tech personalities who are under 40 years of age is testament to the growing influence that Africa has in a global context.
Peter Pedroncelli, 6:17 am
Major South African banking institution, First National Bank (FNB), has been named as Africa’s most innovative bank at the 2017 African FinTech Awards for the second consecutive year. The bank was awarded the The Most Innovative African Bank accolade at this year’s African FinTech Awards in Johannesburg, recognizing FNB as a bank that is at the forefront of innovation.
Staff, 8:08 am
A new program in Seychelles focusing on energy efficiency in state buildings and street lighting will soon launch. Called ‘Smart Energy in Public Spaces,’ the new program will include the installation of 10,000 LED streets lamps by 2020 across the three main islands of Seychelles. “The same program will also provide all the public schools with solar photovoltaic panels and other accessories for them to meet the schools’ energy needs,” said the Minister of Environment, Energy and Climate Change.
Staff, 7:52 am
Everyone wants a smart city. Every country in Africa is talking about getting one – from Rwanda’s Vision City to Ghana’s Hope City. Even Nigeria wants a smart city. Smart cities are great, but we are of the opinion that smart cities only work in a country that is already working. And for now, that’s not Nigeria. The Benin Republic has announced its plans to launch a new smart city, Sèmè City, aimed at fostering Africa-grown innovation as a solution to the continent’s economic challenges.
- Real Estate