Markets: Latest News

  • 12 South African Women Who Are Influencing Tech

    Influencing tech - Rapelang Rabana is the founder of Rekindle Learning. Photo - Lionesses of Africa By Peter Pedroncelli, 10:43 am AFKI Original

    Women have always been important role-players within tech in South Africa, and now more than ever, there are numerous women who are influencing tech in positive ways. While gender diversity in the tech sector remains challenging, some women stand out as excellent role models who are making their mark on a male-dominated industry. From startup executives to tech savvy philanthropists, these women show what a passion for tech and strong leadership qualities can produce in the South African context.

  • Vodacom Completes Largest Initial Public Offering On The Tanzanian Stock Exchange

    Initial public offering - Vodacom has listed on the Dar es Salaam Stock Exchange. Photo - Azaniapost By Peter Pedroncelli, 5:45 am

    This week Vodacom Tanzania completed the largest initial public offering ever seen on the Dar es Salaam Stock Exchange (DSE) in its 19 years of existence. Vodacom raised $219 million for the listing, becoming the first to comply with new regulatory changes requiring telecoms companies in the country to list at least 25 percent on the Dar es Salaam Stock Exchange

  • 12 Things You Didn’t Know About Africa’s First Startup Unicorn

    Africa Internet Groups rebrands as Jumia Group. Photo - Innov8tiv By Peter Pedroncelli, 6:37 pm AFKI Original

    History was made in 2016 when Africa could finally celebrate its first startup unicorn, with the Africa Internet Group, now known as Jumia Group, being valued at over $1 billion in February last year. In doing so, it became the first privately owned startup to gain unicorn status, joining an elite group of 150 or so companies around the globe. The company is based in Lagos, Nigeria, and operates as a subsidiary of Millicom International Cellular S.A, using a sales approach similar to Amazon.

  • African Fintech Solutions Succeed Due To Nonexistent Banking Infrastructure

    M-Pesa is a fintech success story in Africa. Photo - Quartz By Tom Jackson, 6:13 am AFKI Original

    While fintech solutions in other parts of the world have not produced consistent success, Africa’s lack of banking penetration has opened up possibilities for fintech startups to serve a mobile-first population. This track record of innovation is resulting in increased funding for African fintech startups, while of all the sub-sectors within Africa’s tech space it has also proven the most likely in terms of exits.

  • Facebook Determined To Fight Fake News In Kenya With Educational Tool

    Facebook is helping Kenyans to spot fake news. Photo - BBC By Peter Pedroncelli, 6:23 am

    In an effort to limit hate speech and combat fake news in Kenya ahead of national elections in the country, Facebook has launched a tool that seeks to educate users on how to identify stories that are genuine from those that are fake. The social media site has provided a tool at the top of user news feeds from which users are directed to the Facebook Help Center, where they will be given access to information that will assist them in determining which news articles are fake.

  • Venture Capital Firms Are Flooding Back To North Africa

    North Africa - Instabug raises $1.7M in investment to continue growth. Photo - TechCrunch By Tom Jackson, 3:00 am AFKI Original

    The tech scene in North Africa is booming once again, with investors interested in backing startups across Egypt, Morocco and Tunisia. Venture capital firms are flooding back into Egypt, from 500 Startups to the IFC to Algebra Ventures, and after years of being denied access to funds, Egyptian tech startups are now swimming in them again. The story is equally positive for Morocco and Tunisia, and the region’s tech future looks bright once again.

  • 10 African Startups With The Potential To Become Unicorns

    African startups - connect African coders By Peter Pedroncelli, 6:56 am AFKI Original

    The Africa Internet Group became the first startup unicorn from Africa when the leading e-commerce group in the continent was valued at more than $1 billion last year, becoming a pioneer among African startups. There are a few startups that are approaching that milestone, and they have the potential to become members within a group of global unicorns that only number around 150 or so in total.

  • Bitcoin Exchange Launching In Kenya. Nigeria, Ghana and Botswana To Follow

    bitcoin exchange By Peter Pedroncelli, 3:49 am

    Malaysian bitcoin technology provider Belfrics Global is launching a bitcoin exchange in Kenya, allowing users and traders of the cryptocurrency to transact through additional services. The Kenyan arm of Belfrics will offer a number of digital services revolving around the Blockchain, as well as a payment gateway for merchants to accept bitcoin as payment for products and services. They will then expand to Nigeria, Ghana and Botswana.

  • African Tech Startups Need Changes In Venture Capital To Embolden Them

    African tech startups have the ability to achieve further success with more venture capital availability. Photo - AfriZap By Kurt Davis Jr., 5:25 am AFKI Original

    There are currently 300 tech hubs in 93 cities across 42 countries on the African continent. The growing number of tech hubs and developers is drawing significant investment, with more than $366 million invested in startups across Africa in 2016. Despite these positive numbers, a few tweaks could help in boosting the African tech scene and increasing the likelihood of success for African startups.

  • 12 African Nations With The Highest Internet Contribution To GDP

    Internet contribution - The Internet contributes a great deal to Senegal's economy. Photo - African Business Magazine By Peter Pedroncelli, 6:07 pm AFKI Original

    The internet continues to be a driver of business and economies the world over, and the internet contribution to GDP is an interesting barometer of growth. Africa’s average internet contribution to GDP was only 1.1 percent in 2012, or about half the level seen in other emerging economies. This has positive implications for the potential growth of e-commerce and internet-based businesses on the continent.

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