Author: Insider Editor

Visa has revealed the 19 African startups selected for the third cohort of its Visa Africa Fintech Accelerator program. Representing 21 countries and spanning a wide range of sectors such as embedded finance, SME lending, and digital banking, these startups highlight the growing strength of Africa’s fintech ecosystem. A standout feature of this cohort is the impressive female leadership, with 85% of the selected startups having women in key leadership roles. This marks a significant rise from the program’s first cohort and underscores the increasing influence of women in Africa’s innovation scene. Now in its third year, the Visa Africa…

Africa Global Logistics (AGL), previously known as Bolloré Transport & Logistics, has officially launched its “Accelerate” program in Abidjan, Côte d’Ivoire, designed to support African startups in the logistics sector. Six innovative startups were selected for the program’s first cohort, including Eazy Chain from Lomé, founded by Wilfried Dabire. Other participants include PAPS and ALAL from Senegal, APPLOAD from Mozambique, and TAMBOUR and ALIA from Côte d’Ivoire. The six-month incubation program aims to empower these startups by connecting them with mentors, fostering innovative logistics solutions, and engaging in project sprints to refine their products. Hosted at AGL’s Yiri Innovation Center…

Africa’s startup ecosystem is flourishing, with entrepreneurs leading innovative solutions in healthcare, agriculture, education, and financial inclusion. These trailblazers are not just building businesses; they’re transforming economies and positioning Africa as a rising force in the global tech scene. Yet, despite the growth, Black entrepreneurs across the continent face persistent challenges. Limited access to funding, mentorship, and networks often hinders startups, particularly those from underrepresented communities, from scaling their ideas into impactful enterprises. At Google, we’re committed to addressing these barriers through initiatives like the Black Founders Fund (BFF). This program provides vital support—non-dilutive funding, mentorship, and access to industry…

After pouring over $120 million into its 5G network, MTN Nigeria has taken the lead as the provider of the fastest internet speeds in West and Central Africa, according to Ookla Speedtest Intelligence. In the second quarter of 2024, the company’s download speed soared to an impressive 95.62 Mbps, with upload speeds hitting a record 17.01 Mbps—the highest the telco has ever recorded. This is great news for MTN Nigeria’s 2.6 million 5G users, who can now enjoy ultra-fast internet for streaming, gaming, and other data-heavy activities. It also gives the telco a competitive edge, making it even more appealing…

Kenya’s parliament has introduced the Business Law (Amendment) Bill 2024, aimed at regulating business process outsourcing (BPO) and IT-enabled service (ITES) companies amidst increasing scrutiny over worker conditions. This legislative move follows a September 2024 court ruling that permitted BPO firms to be sued within Kenya. The case stemmed from allegations by former Sama employees who claimed they moderated harmful content for clients, including Meta, under exploitative conditions and with insufficient safeguards. Reports revealed that some workers earned as little as $2 per hour, far below the $12 rate proposed by business partners. The proposed bill mandates that employers provide…

Nigeria’s Central Bank has raised its interest rate to 27.5% in its final monetary policy meeting of the year, following a rise in inflation in October. The monetary policy committee (MPC) increased the benchmark rate by 25 basis points to address the growing inflationary pressures. Governor Olayemi Cardoso explained at a media briefing that the decision was made in response to the uptick in both food and core inflation measures, which saw significant year-on-year increases in October 2024. “Members agreed unanimously to stay focused on addressing price developments,” he said. The rate hike follows an unexpectedly strong economic performance in…

Cleo Capital, an early-stage venture fund known for backing companies like AI firm Groq, fintech platform Ellevest, and fashion brand Hill House, has announced a new cybersecurity accelerator aimed at tackling the growing challenges of online threats. The program is open to pre-seed and seed-stage startups worldwide. This remote, 12-week accelerator offers participants a standard investment of $250,000 in exchange for 7% equity. Cleo Capital plans to select up to ten companies for the inaugural cohort. Sarah Kunst, Cleo Capital’s founder and managing partner, was inspired to launch the initiative after observing a surge in fraud across sectors she’s involved…

As the CEO of Maser Group, a $5 billion leader in consumer electronics, and the founder of MDR Investment, I’ve always believed in the transformative power of investment to uplift communities. In Africa, with its vast, untapped resources, we see a unique opportunity to combine cutting-edge technology with sustainability. Maser Group and MDR Investment are working together to ensure that Africa’s resources fuel its growth, create jobs, and reduce poverty across the continent. Revolutionizing Africa’s Mining Sector The global shift towards greener energy has ignited an unprecedented demand for minerals like copper, cobalt, and lithium, which Africa has in abundance.…

Gossy Ukanwoke’s story is one of vision, passion, and innovation. From his early days as a young entrepreneur shaking up Nigeria’s digital education sector with BAU, Nigeria’s first online university, to stepping into one of the country’s biggest entertainment and tech companies, BetKing, Ukanwoke’s journey is nothing short of remarkable. Before joining BetKing, Gossy had stepped back from the daily grind of business to focus on investing in other ventures. But in 2019, when BetKing called on him to lead, he couldn’t resist. At the time, BetKing was just another player in the crowded Nigerian sports betting industry. Under his…

1. Ignoring Market Research: The Blindfolded Voyage Mistake: Imagine setting out on a journey without a map or compass. That’s what many entrepreneurs do when they neglect market research. They pour their heart and soul into a product or service they believe in, only to discover that no one else is interested. This lack of understanding can lead to launching a product that falls flat or, worse, becomes a costly failure. Lesson Learned: Before you dive in, take the time to truly understand the waters you’re entering. Conduct comprehensive market research to know your audience, identify competitors, and spot industry…