Pan-African incubator programme, the Meltwater Entrepreneurial School of Technology (MEST), is looking to back South African tech start-ups.
For its first lead investment, Mark Zuckerberg and Dr. Priscilla Chan’s social issues-minded fund is looking to help startup Andela train more engineers in Africa to get tech jobs.
Africa Internet Group (AIG) has closed a $326 million financing round led by MTN, Rocket Internet and Goldman Sachs. The round includes a previously announced $83 million commitment from AXA, and would potentially form the continent’s first unicorn company as a result.
Across Africa, “60% of the population is under the age of 25“, said Lanre Akinola from the Financial Times blog “This is Africa” as an introduction to this huge and diverse continent. The cliché of people living on the streets and trying to make a living is gone, he adds, but it has a heritage: in Africa, you cannot divorce business from development, as there are still numerous crucial issues to solve, from access to electricity and education to a better government.
FinTech is short for “Financial Technology” – the concept that has plugged our continent (Africa) of lately. It brings about structured change and digitization within the financial services industry and there are considerable implications for the African financial services industry.
THE fastest, and cheapest, way to zip around the hilly capital of Rwanda is to catch one of the many motorcycle taxis, or motos, that attract custom by hooting at pedestrians as they drive along. Grab a ride on one and you can nip from one end of Kigali to the other for less than $1.