Cleantech takes the lead as African startups raise $469.9 million in Q1 2025
African startups raised $469.92 million in Q1 2025, a 27% increase from Q1 2024. South Africa was the top investment destination, raising $120.42 million.
Cascador is launching a $2 million fund for its alumni startups
African startups raised $2.01 billion across 182 deals in 2024, a 31% decrease from the previous year. Cascador is establishing a $2 million Catalytic Fund to support mid-stage entrepreneurs facing funding challenges.
EXCLUSIVE: MTN’s MoMo PSB courts old users via voice calls
MTN Nigeria is deploying targeted voice calls to reactivate dormant users of its MoMo Payment Service Bank. There has been a 46.6% year-over-year drop in active MoMo wallets, falling to 2.8 million by the end of 2024.
No pressure, Cardoso: CBN holds rate at 27.50%
Nigeria's Central Bank maintains the benchmark interest rate at 27.50%. This decision marks the end of a rate-tightening cycle initiated in September 2023.
