TechPression

Category: Startups

  • Morocco sets the stage for Africa’s digital future ahead of GITEX AFRICA

    Morocco sets the stage for Africa’s digital future ahead of GITEX AFRICA

    Morocco has reaffirmed its status as a digital powerhouse following a high-level press conference held on April 9 in Rabat, ahead of the third edition of GITEX AFRICA Morocco. The landmark event, set to take place from April 14 to 16, 2025, in Marrakech, will host Africa’s largest technology startups.

    Organised by KAOUN International and hosted under the high patronage of His Majesty King Mohammed VI, the gathering signals Morocco’s strategic role as a gateway to Africa’s digital future. Backed by the Ministry of Digital Transition and Administration Reform and the Digital Development Agency (ADD), the event highlights Morocco’s commitment to becoming a regional innovation hub and a central player in Africa’s transformation through technology.

    Investing in skills and infrastructure for Africa’s digital rise

    For Morocco, hosting GITEX AFRICA reflects the country’s commitment to a sustained national policy. 

    Related Post: Morocco, France boost green energy partnership with power link projects

    “Morocco’s choice to host this major continental event… is the result of rigorous and sustained work aimed at making our country a regional digital hub,” said Amal El Fallah Seghrouchni, Minister of Digital Transition and Administration Reform.

    She added that this is in line with the High Royal Guidelines to train skilled professionals in digital fields, strengthen responsible digital culture, and build infrastructure that meets global standards.

    Mr. Mohammed Drissi Melyani, Director General of the Digital Development Agency, also explained that “GITEX Africa Morocco has become a major annual milestone on the global tech agenda and a defining moment in the continent’s digital transformation. It seamlessly blends innovation, investment, research, and institutional collaboration, making it much more than a simple technology exhibition. It reflects the vision of a continent that no longer settles for consuming technology but is determined to create it—one that doesn’t just keep pace with innovation but plays an active role in steering its course.”

    Startups, funding and partnerships take the spotlight

    As Africa’s startup scene bounces back with over $2 billion in funding, investors are arriving in droves. More than 350 investors from 35 countries — including Techstars, Ventures Platform, and AFRICINVEST — will attend the event, backed by a combined $200 billion in assets under management.

    Related Post: Morocco’s cybersecurity lapses expose businesses and government to phishing, data theft

    The European Innovation Council and the International Finance Corporation are set to highlight African innovators, including 10 standout women-led startups from the IFC’s SheWins Africa programme.

    Adding to the excitement is the Supernova Challenge, Africa’s largest startup pitch competition, and the presence of Awa Gueye from Wave Mobile Money, one of Africa’s top fintech unicorns.

    Global tech giants and new nations join the digital conversation

    The 2025 edition will feature 1,450+ exhibitors, including global tech players like Cisco, Ericsson, Nokia, and Salesforce, alongside new entrants from Gabon, Niger, and Zambia. International delegations from Belgium, Switzerland, and Uzbekistan will also be participating for the first time.

    Trixie LohMirmand, CEO of KAOUN International, described the moment as a turning point: “This third edition of GITEX AFRICA Morocco shall usher the African economies into the epoch of AI evolution. Great opportunities for businesses and societies ensue, but first with the collective commitment to develop capacity for the transition.”

    Closing the gap: Challenges ahead for the digital agenda

    While the energy around Africa’s digital rise is unmistakable, there are still critical hurdles to address. From inadequate infrastructure in rural areas to digital skill shortages and fragmented regulatory systems, the path to a fully digital Africa isn’t without its obstacles.

    The success of events like GITEX AFRICA depends on sustained collaboration between governments, private investors, and educational institutions, to ensure the momentum benefits every corner of the continent.

  • Djamo targets Francophone West Africa expansion with $17 million funding

    Djamo targets Francophone West Africa expansion with $17 million funding

    On Thursday, Ivorian fintech startup Djamo announced that it had raised $17 million in equity funding to expand its digital banking services across Francophone West Africa.

    This funding round, led by Janngo Capital, marks the largest ever for an Ivorian startup, bringing Djamo’s total equity funding to over $31 million.

    Djamo: Mobile-banking bridge for 1 million users.

    Djamo is positioned as a bridge between mobile money and traditional banking, offering accessible and comprehensive financial services to underbanked individuals and small businesses. The company serves over 1 million users in Côte d’Ivoire and Senegal, providing savings tools, investment products, and salary-linked accounts.

    Djamo’s innovative approach has resonated with users, with 55 percent of previously unbanked users and 90 percent using Djamo as their primary account.

    “This investment is a major step toward our vision of building one of the most iconic financial services platforms in Francophone Africa,” said Hassan Bourgi, Co-founder & CEO of Djamo. “Millions of people in our region remain underserved by traditional banks or stuck in mobile money ecosystems without access to wealth-building and fair financing opportunities. We are committed to providing them with seamless, affordable, and innovative banking that truly meets their needs”.

    Djamo gains capital for product and regional growth

    The new capital will support Djamo’s regional expansion and product development, including the launch of lending and interest-bearing savings products as it secures additional licenses.

    Djamo aims to increase the share of users receiving their salaries through its platform from 5-10 per cent to 50 per cent. Since its launch, the company has processed over $4.5 billion in transactions and onboarded over 10,000 small businesses.

    With a doubled valuation since its last funding round, Djamo is poised to become a leading digital bank for Francophone Africa’s emerging middle class.

  • Kenyan startup TuConnect unveils online career platform

    Kenyan startup TuConnect unveils online career platform

    Kenyan startup TuConnect has launched its online career platform. This innovative platform, co-created by top career experts, offers users professional tools and comprehensive career guidance. The announcement was made on March 31, 2025, marking a new era in career development for individuals in Kenya and beyond.

    TuConnect platform empowers users to navigate career paths

    TuConnect’s platform is designed to provide users with the resources they need to navigate their career paths effectively. By leveraging expert insights, the platform aims to bridge the gap between education and employment by offering tailored guidance and tools.

    Geoffrey Amadi, Co-founder and Business Lead at TuConnect is passionate about driving innovation and growth through sustainable solutions and impactful partnerships. His background in business development and startup building positions TuConnect well to make a meaningful impact in the career guidance space.

    As noted by a media report, “Kenyan startup TuConnect has launched an online career platform co-created by career experts, providing professional tools and career guidance. This move aligns with the broader trend of leveraging technology to enhance career development and job readiness. Platforms like TuConnect are crucial in empowering individuals, especially young people, to make informed decisions about their career paths.

    Market context and opportunities

    The launch of TuConnect’s platform comes at a time of growing demand for career guidance services.

    In Kenya, initiatives like the Hatua Network and the NEA Office of Career Services have been working to empower youth and adults with career guidance and job placement support. TuConnect’s platform adds to this ecosystem by providing a digital solution that can reach a wider audience.

    By offering professional tools and expert guidance, TuConnect is poised to play a vital role in shaping the career trajectories of its users. The platform’s focus on innovation and partnership-building underscores its potential to collaborate with educational institutions and employers to create a more aligned and effective career development process.

    As the job market continues to evolve, platforms like TuConnect will be essential in helping individuals adapt and thrive in their chosen careers.

    Good to go!

  • Microsoft, Presight collaborate to drive AI innovation for startups

    Microsoft, Presight collaborate to drive AI innovation for startups

    On Friday, Presight, a leading data analytics company based in Abu Dhabi, announced a strategic partnership with Microsoft to advance the Presight AI-Startup Accelerator. This initiative empowers emerging AI startups by providing essential tools like high-performance computing, cloud services, and foundational AI models.

    The program, launched during GITEX Global last year, targets startups that have developed prototypes and are ready for market testing. It offers a structured curriculum to refine AI products, optimise strategies, and integrate with Presight’s product pipeline. Microsoft will leverage its Founders Hub initiative to provide technical expertise, mentorship, and access to advanced tools like large language models (LLMs) and generative AI-powered analytics.

    Thomas Pramotedham, CEO of Presight, highlighted the shared vision of fostering innovation: “This collaboration underscores our commitment to equipping startups with the tools they need to succeed.” Naim Yazbeck, General Manager of Microsoft UAE, added that the partnership aims to drive AI adoption across industries by offering startups access to world-class resources and mentorship.

    Read also: Morocco Gaming Expo 2025: A must-attend event for gamers, industry professionals

    A platform for market-ready startups

    Graduates of the Presight AI-Startup Accelerator will emerge with market-ready solutions, having established product-market fit and sustainable business models. The program ensures startups gain unmatched networking opportunities within the UAE and global markets while integrating into Presight’s ecosystem.

    This collaboration aligns with Microsoft’s $1.5 billion investment in G42, Presight’s parent company. The integration of Microsoft Azure is already enhancing Presight’s solutions. Yazbeck emphasised the transformative potential of this partnership: “Providing startups with technical resources and guidance will enable them to scale rapidly and deliver impactful solutions.”

    Applications for the accelerator program will close on April 10, 2025. This initiative reflects both companies’ dedication to nurturing innovation and creating opportunities for AI startups to thrive in competitive markets.

  • 38 African startups raise over $119 million in February, fintech and logistics record largest investments

    38 African startups raise over $119 million in February, fintech and logistics record largest investments

    A Tuesday report by Big Deal revealed that African startups raised more than $119 million in February 2025, with 38 startups surpassing $100,000 each. However, this number is below the average for the past 12 months and Februarys since 2021.

    Read also: Equator fund targets early-stage climate startups in Africa

    African startups raised $2.2bn in funding in 2024

    In 2024, African start-ups raised $2.2 billion in grants, debt, and equity (not including exits). This represents a 25 percent decrease from the $2.9 billion raised on the continent in 2023. In 2024, 188 ventures (excluding exits) raised $1 million or more.

    Similar to 2023, South Africa, Nigeria, Egypt, and Kenya attracted 84 percent of all start-up funding in Africa in 2024 (excluding exits).

    According to the latest data, the total amount raised in 2025 to yet ($408m) is slightly above the $400m raised in 2021 and more than the $302m raised during the same period last year.

    “While the number of $100k+ deals overall announced in 2025 so far doesn’t compare favourably to the previous years, if we look at $1m+ deals specifically, we see that the 42 $1m+ deals announced since the beginning of the year are aligned with both 2023 (42) and 2024 (43) numbers and significantly higher than pre-heatwave levels (between 20 and 31 in 2019-2021),” said Max Giacomelli, who wrote the report.

    Read also: British startup to Power Sao Tome and Principe with Ocean Energy

    Startups in South Africa, Kenya, Nigeria, Egypt raised the largest funds

    The seven biggest deals, which accounted for 80 percent of the total, were all in the Fintech or Logistics & Transport sectors, which is consistent with 2024 trends, according to a breakdown. Most were in one of the “Big Four” (South Africa, Kenya, Nigeria, and Egypt).

    However, Togolese start-up Gozem reported the biggest deal of all, raising $30 million ($15 million in debt, $15 million in equity).

    Some other noteworthy announcements include Affinity’s $8 million round (Ghana, Fintech); Raenest’s $11 million Series A (Nigeria, Fintech); Hakki Africa’s $13 million raise (Kenya, Fintech x Mobility); Khazna’s $16 million raise to expand in KSA (Egypt, Fintech); and Taager’s $7 million pre-Series B (Egypt, Logistics & Transport).

  • Equator fund targets early-stage climate startups in Africa

    Equator fund targets early-stage climate startups in Africa

    On Tuesday, Equator, a venture capital firm focused on climate technology in Sub-Saharan Africa, announced the final close of its first fund, securing approximately $55 million to support early-stage climate tech startups. 

    This move aims to bridge the funding gap for these startups, which often struggle to secure capital compared to their counterparts in more developed regions.

    Read also: Proparco fuels African climate innovation with $5M fund investment

    Equator fund targets up to 18 climate startups in Africa

    Equator’s fund is designed to invest in around 15 to 18 early-stage ventures, primarily in the energy, agriculture, and mobility sectors. The firm will provide checks ranging from $500,000 to $5 million, depending on the needs of the startups. 

    Nijhad Jamal, Equator’s founder and managing partner, emphasised the importance of investing in commercially viable startups that address real-world problems, stating, “It is not about investing in climate tech for the sake of it but investing in innovation and solutions to real and sizable problems”.

    Equator’s investors include notable development finance institutions (DFIs) such as the World Bank’s International Finance Corporation (IFC), British International Investment (BII), and France’s Proparco, along with foundations like the Global Energy Alliance for People and Planet (GEAPP) and the Shell Foundation.

    Despite contributing less than 3 per cent of global CO2 emissions, Africa is disproportionately affected by climate change, making investments like Equator’s vital for sustainable development.

    Read also: British startup to Power Sao Tome and Principe with Ocean Energy

    Equator supporting African startups

    Equator’s role extends beyond financial support and aims to help startups understand unit economics, governance, and regional expansion strategies. By doing so, the firm seeks to make these startups more attractive to private capital, thereby reducing their reliance on aid and development finance. 

    Jamal noted, “In some of our companies, we are the only Africa-focused investor involved. So far, we’ve had strong success in getting our partners to invest alongside us in these ventures.”

    Equator has already invested in companies based in Kenya, such as Roam, an electric motorcycle manufacturer, and SunCulture, a provider of solar-powered irrigation systems.

  • Morocco introduces digital child health records

    Morocco introduces digital child health records

    Morocco has launched the Digital Child Health Record to enhance healthcare access and preventive care. Announced on Monday, during the Maghreb Days for School and University Health, the initiative is led by the National Observatory for Children’s Rights (ONDE) under Princess Lalla Meryem. 

    It aims to digitise children’s medical records, providing real-time access to vaccination history and medical consultations.

    Developed in collaboration with the Population Department of the Ministry of Health and Social Protection and pediatric scientific societies, this project focuses on improving preventive healthcare by ensuring timely medical interventions and efficient vaccination tracking.

    How the digital health record enhances preventive care

    The Digital Child Health Record is designed to provide real-time access to essential medical information, including complete vaccination records and medical consultations. By enabling immediate access to accurate health data, the platform enhances preventive care through timely healthcare interventions.

     It sends automated reminders for vaccine appointments and routine check-ups, ensuring children receive essential medical attention on schedule. This streamlined access allows families and healthcare professionals to make informed decisions promptly, reducing administrative delays and improving overall healthcare efficiency.

    Read also: OceanHub Africa Accelerator Program now accepting applications for startups focused on ocean health

    Innovative features for comprehensive child healthcare

    This initiative goes beyond traditional health records by integrating educational and advisory tools into the digital platform. It provides families with reliable health guidelines and offers specialised consultations, particularly in the area of mental health. A significant focus is placed on raising awareness about neurodevelopmental disorders such as autism and ADHD, empowering parents with the knowledge needed for early intervention and support. 

    Additionally, the platform ensures sustainable health monitoring by enabling continuous tracking of children’s health data, leading to better diagnosis, treatment, and overall well-being. By embracing modern technology, this initiative digitises medical records and revolutionises preventive care and healthcare access for children in Morocco.

    With Morocco setting the pace in digital health innovation, this initiative is expected to enhance public health outcomes and empower families with the tools they need to safeguard their children’s health.

  • 54 Collective halts venture studio operations in Africa

    54 Collective halts venture studio operations in Africa

    On Tuesday, 54 Collective, formerly known as Founders Factory Africa, announced that it will discontinue its venture studio operations in Africa. This decision follows the conclusion of its partnership with the Mastercard Foundation, which is set to end on April 30, 2025. 

    The Mastercard Foundation’s funding has been crucial for 54 Collective’s initiatives, including its venture studio, Gen F accelerator, and Entrepreneur Academy. 

    However, with both organisations pursuing different strategies, 54 Collective has struggled to secure alternative funding, leading to the closure of its studio and anticipated layoffs.

    Read also: Africa’s top VC firm Founders Factory Africa rebrands as 54 Collective

    Strategic realignment: 54 Collective prioritises venture fund over studio

    54 Collective’s decision to shut down its venture studio reflects a broader strategic shift towards focusing on its $40 million venture capital fund. Despite the challenges, the firm remains committed to supporting African startups. 

    Since its partnership with Mastercard began, 54 Collective has supported over 40 startups, created more than 17,500 jobs, and distributed 600 grants to SMEs through its Entrepreneur Academy.

    The closure of the venture studio raises questions about how 54 Collective will engage with early-stage founders in the future.

    Read also: Ghanaian AI startup Aya Data secures $900K seed funding

    54 Collective’s investments and support unchanged

    The closure does not affect 54 Collective’s active $40 million venture capital fund, UAF1, which will continue investing in startups across Africa. The firm also retains a multi-million pool to provide operational support to portfolio companies and address gender disparities in the VC ecosystem. 

    As 54 Collective navigates this transition, it will be important to see how it adapts its support for early-stage startups, given the loss of its venture studio operations. The firm’s pan-African presence and commitment to fostering entrepreneurship remain key strengths in its operations.

  • Djamo secures $1.3 million funding from state-owned CDC-CI Capital

    Djamo secures $1.3 million funding from state-owned CDC-CI Capital

     Ivorian fintech startup Djamo has recently secured funding from the state-owned investment fund CDC-CI Capital, amounting to 800 million CFA francs (approximately $1.3 million).

    The announcement on Wednesday marks a key step in enhancing financial services in Côte d’Ivoire.

    Read also: Acumen backs Ghanaian agritech startup, Wami Agro

    The investment agreement was finalised at Djamo’s headquarters in Abidjan, attended by key stakeholders, including CDC-CI Capital’s Managing Director, Arthur Coulibaly, Djamo’s co-founders, Hassan Bourgi and Régis Bamba, and the Chairman of the CDC-CI board of Directors.

    Investment to boost financial inclusion

    The backing from CDC-CI Capital hints at the Ivorian government’s interests in fostering financial technology solutions that drive economic development and financial inclusion.

    Djamo, founded in 2019, has gained traction by providing digital financial services tailored to the underbanked.

    Only about 19 per cent of Ivorians have access to traditional banking, while approximately 83 per cent of the population uses mobile money services. The startup’s platform allows users to send money seamlessly between bank accounts and mobile wallets.

    Arthur Coulibaly, Managing Director of CDC-CI Capital, emphasised the importance of this funding in fostering economic development through innovative financial solutions.

    “Our investment in Djamo is aligned with our goal to support high-growth potential startups that address key economic challenges,” he stated during the announcement event at Djamo’s headquarters in Abidjan.

    Read also: Algeria earmarks $11 million to support AI, cybersecurity startups

    Djamo’s expansion plans and user growth

    Djamo plans to utilise the new capital to enhance its virtual currency infrastructure and expand its reach among urban populations eager for digital banking solutions.

    Djamo’s customer-centric approach has fueled its rapid growth, reaching over 1.2 million subscribers in Côte d’Ivoire—more than doubled since late 2022.

    According to co-founder Hassan Bourgi, the startup’s success is rooted in its strategic focus on the “bank-ready” segment — young, urban Ivorians eager to embrace digital banking but underserved by traditional financial institutions.

    “We are targeting urbanites rather than the masses, as mobile money already adequately serves the latter segment,” Bourgi explained in a recent interview. “We see a substantial market of approximately 25 million people in the region who require their first proper bank account.”

    The company offers prepaid Visa debit cards and eliminates fees on select transactions, appealing to users seeking affordable banking. Partnerships with local banks ensure reliable and secure services, leading to higher transaction success rates.

  • Acumen backs Ghanaian agritech startup, Wami Agro

    Acumen backs Ghanaian agritech startup, Wami Agro

    On Wednesday, Acumen, a global impact investment fund, announced that it had invested strategically in Wami Agro, a Ghanaian agritech startup dedicated to empowering smallholder farmers. 

    This move aims to support Wami Agro’s mission of improving the livelihoods of these farmers through innovative tech-enabled solutions.

    Read also: OceanHub Africa Accelerator Program now accepting applications for startups focused on ocean health

    Empowering smallholder farmers

    Smallholder farmers are the backbone of Ghana’s agriculture, making up about 70 percent of the workforce and contributing substantially to food production. 

    However, they face numerous challenges, such as entrenched poverty and limited access to credit and markets. Wami Agro addresses these issues with three key services:

    Wami Market: This service aggregates produce from smallholder farmers and sells it in bulk to domestic and international markets. It ensures consistent demand and fair pricing for farmers.

    Wami Credit: A digital platform that provides credit scoring for Village Savings and Loan Associations (VSLAs), enabling farmers to access financing for essential inputs like seeds and fertilisers.

    Wami Info: Offers training programs that equip farmers with knowledge of climate-resilient farming practices.

    Since its inception, Wami Agro has built a network across six regions in Ghana involving over 14,000 smallholder farmers. The company focuses primarily on rice, maize, soya, and sorghum.

    Read also: Tunisian startup Dabchy secures funding to scale second-hand fashion marketplace across North Africa

    Wami Agro to scale into neighbouring countries

    With Acumen’s support, Wami Agro plans to scale its operations further by expanding its sourcing to neighbouring countries such as Sierra Leone and Burkina Faso. 

    Additionally, it will roll out its proprietary digital farm management platform called Pukpara. This expansion aims to enhance yields by improving technology integration while driving positive change in agriculture.

    “This investment will help us expand our operations,” said Caleb Edwards founder of Wami Agro “improve technology,” he added “and drive positive change in agriculture”. 

    Babatunde Usman from Acumen West Africa stated, “Their commitment aligns with our values; we are excited about their efforts towards sustainable agricultural impact”.

    The partnership is set to improve incomes by leveraging technology effectively while enhancing resilience among smallholder farming communities across West Africa.