Marketforce ordered to pay $16,000 in wrongful termination case
Marketforce ordered to pay $16,000 (KES 2.1 million) to a former employee for wrongful termination by a Kenyan court. The ruling comes nearly a year after the Y Combinator-backed startup shut down RejaReja, its flagship B2B marketplace, leaving its future uncertain. Its co-founder, Tesh Mbaabu, has since moved on to
35 Startups in Egypt to Watch This Year
In 2024, startups in Egypt secured $329 million across 78 funding rounds, maintaining a significant share of the continent’s venture capital despite global economic challenges. This surge is attributed to a combination of government initiatives, increased investor interest, and a burgeoning community of innovators addressing both local and global challenges.
Lipa Later enters administration after failed fresh fundraising efforts
Kenyan buy-now-pay-later (BNPL) fintech, Lipa Later enters administration effective March 24, 2025, after months of financial struggles and failed fundraising efforts. Joy Vipinchandra Bhatt from Moore JVB Consulting LLP has been appointed administrator, according to a gazette notice seen by TechCabal. This latest development caps a turbulent year for Lipa
PalmPay rolls out its debit cards in partnership with Verve
Nigerian fintech with over 35 million users, PalmPay rolls out its debit cards in partnership with Verve, marking a major step in its evolution from a mobile wallet to a full-service digital financial platform. The move comes amid a broader shift by Nigerian fintechs toward local card schemes, as rising
Jumia, Jiji unfazed of Temu shaking up Nigeria’s $13 billion e-commerce market
Jumia, Jiji unfazed of Temu shaking up Nigeria’s $13 billion e-commerce market, luring shoppers with ultra-low prices and freebies. Since its Nigerian launch in November 2024, Temu has been aggressively courting customers with deep discounts, promotional giveaways, and promises of faster delivery. The company’s expansion strategy mirrors its playbook in
MTN and Airtel signs an agreement to share network infrastructure in Nigeria, Uganda
MTN and Airtel have signs an agreement to share network infrastructure in Nigeria and Uganda, a strategic move aimed at reducing rising operational costs while expanding mobile coverage to underserved areas. The rare collaboration underscores a broader shift toward cost optimisation among African telecom giants as currency devaluation and economic
AltSchool to launch in-person programs in Q2 with ‘Campus by AltSchool’
AltSchool, a Nigerian edtech startup, is set to introduce hybrid learning programs through its new initiative, “Campus by AltSchool.” Known for offering online courses in software development, product development, and creative sectors, the company aims to improve course completion rates and strengthen the vibrant community it has cultivated. The program
32 Startups in Morocco to Watch This Year
Morocco’s startup ecosystem has been experiencing significant growth, with innovative ventures emerging across various sectors. This surge is driven by a dynamic youth population, increasing access to technology, and supportive government policies. 32 Startups in Morocco to Watch This Year Here are 32 startups in Morocco to watch this year,
Payhippo rebrands as Rivy, raises $4 million for clean energy financing
Nigerian fintech Payhippo rebrands as Rivy, raises $4 million for clean energy financing in a pre-Series A round to focus on its clean energy financing business. The funding—split evenly between $2 million in debt and $2 million in equity—will help the company expand beyond Nigeria with its clean energy financing
Paystack launches Zap, its first consumer-centric app
Paystack launches Zap, its first consumer-centric app, which it says will allow easier and faster bank transfers. The company’s CEO, Sola Akinlade announced the launch at a special event Monday. According to Akinlade, instead of being another neo bank, Zap will allow Nigerians to link their existing bank accounts with
