In June 2025, funding for African startups experienced a significant increase, with $365 million raised, marking the highest total for a single month in almost a year, as reported by Africa: The Big Deal. This strong performance in June contributed to a total of $1.35
According to The Financial Times’ annual list of Africa’s fastest-growing companies, PalmPay has become the continent’s quickest-growing fintech. Established in Lagos in 2017, this digital finance platform reported a revenue of $63.9 million in 2023 and has increased its workforce to over 1,000 employees.
HyperionDev, a South African-headquartered tech education provider, has announced raising R95 million (5 million), bringing its total growth investment to R595 million ($31.1 million). The edtech platform has yet to disclose the investors who participated in the latest funding round, however, it stated that the total investment
Prof. Barth Nnaji, chairman of Geometric Power Group, has attributed the reason he developed the $800m Geometric Power Plant in Aba to Ngozi Okonjo-Iweala and the late James Wolfohnson. He disclosed this at the recently convened leadership colloquium on “Igbo Leadership and Development.” Nnaji linked
Universal Music Group (UMG), the world leader in music-based entertainment, today announced a majority investment in of one of the world’s most dynamic and exciting independent record labels, Mavin Global (Mavin). The deal remains subject to regulatory approval and is expected to close by the
PZ Cussons Nigeria Plc has issued a subtle warning to its shareholders regarding the potential dire consequences if the company’s plans to delist from the Nigerian Exchange Group (NGX) are not approved. The company’s board recently recommended the offer from the Company’s core shareholder, PZ
For much of its history, coverage of the African startup scene has tended to be glowing accounts of innovation and grit, and for good reason. A young ecosystem battling scarce funding opportunities, low infrastructural development, and near-absent government support needed all the support it could
An official of the Nigerian government on Monday announced a plan to help Nigerian tech startups raise a total of $5 billion yearly in funding rounds by 2027. The Minister of Communications, Innovation and Digital Economy, Bosun Tijani, disclosed the plan in the ministry’s 31-page Strategic
MEST Africa has announced the opening of applications for the fifth edition of the MEST Africa Challenge, the winner of which will secure US$50,000 in equity funding. Founded in Ghana in 2008 by serial entrepreneur Jorn Lyseggen, MEST is a pan-African software and entrepreneurship training programme, seed
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