3 Risks African Startups Face Scaling Operations
Funding for African startups has decreased by 50% to $1.1 billion in 2024, with high borrowing costs complicating cash flow management. Twiga Foods has effectively managed cash flow by negotiating supplier terms and adopting subscription-based revenue models.
Mozambique Partners with AFD Bank To Launch Drones to Boost Disaster Preparedness
The African Development Bank, Mozambique’s government, and Korea’s Busan Technopark launched a drone-based disaster management initiative. Mozambique is recognized as one of Africa’s most disaster-prone countries, frequently affected by floods and cyclones.
Africa’s digital payments projected to reach $1.5 trillion by 2030
Mastercard's digital payments economy in Africa is projected to reach $1.5 trillion by 2030. The MADE Alliance aims to provide digital access to 100 million businesses and individuals over the next decade.
Google, Speedinvest back Kenya’s Leta, which uses AI to make logistics cheaper
African businesses pay up to four times the global average for logistics, with logistics costs comprising 75% of product costs. Leta, a Nairobi-based logistics SaaS provider, has raised $5 million in seed funding to scale its AI-powered platform.
Seedstars Africa Ventures secures $42 Million for Early-Stage Startups
Seedstars Africa Ventures I announced a first close of $42 million. The fund targets seed and Series A startups with investments up to $2M.
