Author: Insider Editor

Ethiopia has officially launched its stock exchange, marking a historic milestone as the 30th bourse on the African continent. This development comes after four years of planning and discussions, positioning the Ethiopian Stock Exchange (ESX) as a pivotal platform for the country’s financial ecosystem. While the launch signals progress, it also highlights challenges. The ESX opened with a single listing, Wegagen Bank, a tier-2 bank with assets of 65.7 million birr ($521,000). Expectations of broader participation, including prominent entities like Ethio Telecom—which had reportedly planned to sell 100 million shares worth 30 billion birr ($238 million)—were unmet, leaving questions about…

With a record-breaking 2,018 applications from 116 countries, Nigeria takes the lead on the Aurora Tech Awards 2025 Longlist, featuring an impressive 21 female founders and reinforcing its status as a hub for innovation and entrepreneurship. Brazil and the United States follow closely, with Egypt trailing just behind. Other key contributors include Colombia, Kenya, the United Kingdom, India, and Kazakhstan, showcasing the award’s truly global reach. This year’s Aurora Tech Award not only highlights the exceptional talent from Nigeria but also emphasizes the country’s increasing influence in the tech and startup ecosystem, inspiring female founders both within Africa and globally.…

In 2024, sub-Saharan African countries collectively lost $1.5 billion due to Internet shutdowns, representing 19% of the global total of $7.69 billion in losses caused by such disruptions. The year saw a total of 28 Internet shutdowns across 28 countries worldwide, with 13 of these occurring in Africa. Affected countries included Sudan, Ethiopia, Kenya, Algeria, Guinea, Mauritania, Senegal, Mozambique, Chad, Mauritius, Tanzania, Papua New Guinea, and Equatorial Guinea. Sudan bore the brunt of these losses, with an estimated $1.12 billion in economic damage caused by prolonged Internet shutdowns. These disruptions lasted for more than 12,707 hours, or over 529 days,…

The Communications Authority of Kenya’s proposal to increase satellite ISP licensing fees by over 800% aims to regulate the growing market and promote fairness. However, the move risks limiting competition and innovation, particularly for small and medium-sized ISPs that play a vital role in expanding Internet access to remote areas. Higher fees could price these providers out of the market, potentially leaving underserved communities with fewer options and widening the digital divide. On the positive side, the proposal introduces progressive measures, such as allowing satellite ISPs to engage in terrestrial cable operations, telemetry, and space research. These provisions could attract…

Gokada, one of Nigeria’s most prominent last-mile delivery companies, filed for Chapter 11 bankruptcy protection on October 18, 2024, according to regulatory filings in Delaware. Chapter 11 allows businesses to reorganize their debts, repay creditors over time, and avoid asset liquidation, offering a chance to stabilize operations. The filing followed failed attempts to secure new funding, including a 2023 campaign on GetEquity that sought to raise $750,000 at a $10 million valuation. Despite raising $5.3 million in a Series A round in 2019, Gokada faced significant financial challenges, reporting total liabilities of $5.2 million—$1.8 million owed to its 20 largest…

Mumsbooth, a non-governmental organization, has proudly trained over 200 girls in diverse technology and digital skills through its ProjectSTART empowerment program. Designed to introduce young girls to the tech ecosystem, the initiative empowers them with vital skills to build promising careers in the industry. The Girls in Tech program, themed Building Future Innovators, offered training both in-person and virtually across Nigeria. In collaboration with Seamfix and GGTV, the program reached girls aged 10 to 19, providing them with comprehensive education in digital and technological skills. Participants received training in mobile device repair, graphic design with Canva, data analysis, digital content…

Startups play a crucial role in driving Africa’s digital transformation, experts have emphasized. “Africa’s digital economy is not just an opportunity; it is a necessity for economic growth, job creation, and poverty reduction. Startups are the engine of this growth,” stated Dr. Amara Yusuf, a digital economy specialist. The African Union’s Digital Transformation Strategy aims to create a unified digital market for over 1.4 billion people by integrating infrastructure and policies across the continent. This initiative offers startups a fertile ground to innovate and scale solutions regionally and globally. However, challenges such as limited funding, inadequate infrastructure, and regulatory hurdles…

Fintech continues to dominate Africa’s tech ecosystem, securing 35% of total funding in 2024. As the sector evolves, innovative startups are emerging in four key areas—credit cards, contactless payments, payment infrastructure, and escrow services—driving the next wave of growth in 2025. These fintech pioneers are at the forefront of Africa’s financial innovation, reflecting the continent’s rapid growth and rising competitiveness in the global tech landscape.

The Tony Elumelu Foundation (TEF) is now accepting applications for the eleventh edition of its Entrepreneurship Programme. This transformative initiative offers African entrepreneurs: Programme Overview TEF has committed $100 million to empower African entrepreneurs, providing training, mentorship, and funding to thousands of startups. Since its inception, the programme has supported over 15,000 entrepreneurs, connecting them with influential figures in both the private and public sectors to help scale their businesses and enhance their profiles. This year, successful applicants will also gain access to the TEF network of startups, fostering collaboration and growth within Africa’s entrepreneurial ecosystem. Eligibility How to Apply…

In 2024, Copia, a B2C e-commerce startup, and iProcure, a B2B agritech startup, entered administration after failing to secure new funding. Despite Copia’s co-founder, Tracey Turner, announcing plans to launch a new entity, no progress has been reported on this front. Meanwhile, M-KOPA successfully navigated a complex tax dispute in Kenya, expanded its investments, and launched new facilities, including an e-bike assembly plant and a phone assembly facility in Nairobi. “We are now profitable as an organisation and have been profitable for several quarters,” said Mayur Patel, M-KOPA Fintech MD, in November 2024. Kenya also witnessed its first two startup…