Africa Archives – Page 2 of 2

Standard Bank’s Sola Adegbesan⏤ Why Africa needs homegrown financing solutions to its local challenges

by Sola AdegbesanCompany News Thought LeadershipSeptember 6, 2023September 6, 2023

Africa, the second-largest continent and home to 1 billion people has long captured the imagination of the world. Today, different thinkers, and political and business leaders are preoccupied with a single question – how to help Africa’s economy grow so it can trade with the world on better terms? The answer…

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US Financial Services Giant, Mastercard Acquires Minority Stake in MTN’s Fintech Division.

by Jonathan N. LubwamaNews & Analysis The Big StoryAugust 14, 2023August 14, 2023

Mastercard Inc., a leading global payments and technology company, has recently announced its decision to acquire a minority stake in the fintech division of MTN Group Ltd., This strategic move comes just two years after Mastercard invested $100 million in Airtel’s mobile money business, demonstrating the company’s continued interest in…

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Inside Hindsight Ventures’ Big Plans for Uganda and Africa.

by Jonathan N. LubwamaIndustry & Analysis News & Analysis StartupsJuly 17, 2023July 17, 2023

India is arguably the world’s third biggest startup ecosystem behind the USA and China. But much of India’s boom has happened within the last two decades. Between 2013-2020 Jagruti Bista and Ajay Ramasubramaniam were in the thick of it. In 2020, they decided to share their lessons learnt. They founded…

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African Startup Funding Declines by 70% in June 2023.

by Jonathan N. LubwamaICT News & Analysis Startups The Big StoryJuly 3, 2023July 3, 2023

Startups raise funding for various reasons that are essential for their growth and success. Firstly, funding provides the necessary capital to support and accelerate the growth of startups. It enables them to invest in expanding their operations, hiring talented individuals, and scaling their business. By securing funding, startups can seize…

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Ugandan Startups Should Avoid the Growth by All-Means Mindset.

by Jonathan N. LubwamaICT Industry & Analysis Startups The Big StoryJune 12, 2023June 12, 2023

In startups, the “growth at all costs” mindset refers to a strategy where startups prioritize rapid growth and market domination above all else, often disregarding profitability, long-term sustainability, or ethical considerations. This approach typically involves aggressive tactics such as massive user acquisition, heavy spending on marketing and advertising, and focusing…

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East African Startups Raised the Most Funding in May 2023.

by Jonathan N. LubwamaICT Startups The Big StoryJune 6, 2023June 6, 2023

As per Africa: The Big Deal, African startups raised $621.8 million from just 34 deals which makes it an average of $18.3 million per deal in May 2023. This is a 42% increase year-over-year from May 2022. On a month-over-month basis, funding grew by 379% from the 129.8 million that…

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How Future Africa’s Olga Kiconco is Charting Her Own Path in Venture Capital.

by Jonathan N. LubwamaICT Profiles StartupsMay 22, 2023June 6, 2023

When Olga Kiconco finished her Bachelor’s Degree in Telecom Engineering at a university in Malaysia in 2013, she knew it was time to look for jobs. But when she came back to Uganda, she was hit by the innovation bug. She started a cyber security firm with a couple of…

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Asset Financing Startup M-Kopa Raises Over $250m Debt and Equity

by Jonathan N. LubwamaCompany News East Africa Finance Fintechs ICT Industry & Analysis Startups The Big StoryMay 16, 2023May 16, 2023

African asset financing startup, M-Kopa has raised a combined equity and debt round of at least $250m, the company announced on Monday. This is one of the biggest single funding rounds raised by an African startup. M-Kopa will use this funding to continue its Africa-wide expansion and increase its 3m…

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