African logistics startup Lori Systems raises Series A led by Chinese investors

African on-demand trucking logistics company Lori Systems has raised a Series A round led by Chinese investors Hillhouse Capital and Crystal Stream Capital. Other participating investors included Nigeria and U.S.-based EchoVC, Flexport CEO Ryan Petersen and Nigerian founder Iyinoluwa Aboyeji. Lori Systems is not disclosing the amount of the Series A. DealStreet Asia reported the […]

Solar-based ISP startup Tizeti launches 4G LTE network in Nigeria

Nigerian internet service provider Tizeti has launched its first 4G LTE network. The Y Combinator-backed startup — which uses solar-powered towers to deliver net connectivity — has built its premier 4G-capable tower in the city of Port Harcourt, where Tizeti will offer its first 4G and ISP services. The company operates primarily in Lagos, Nigeria’s […]

Bosun Tijani talks strategy as CEO of Africa’s new largest tech hub

With CcHub‘s acquisition of iHub in September, Nigerian Bosun Tijani is at the helm of (arguably) the largest tech network in Africa. He is now CEO of both organizations, including their robust membership rosters, startup incubation programs, global partnerships and VC activities from Nigeria to Kenya . One could conclude Tijani has become one of […]

Kenyan telco Safaricom’s Alpha incubator faces uncertain future

Safaricom’s Nairobi-based Alpha innovation incubator may have an uncertain future, according to sources. With two high-level departures, and the passing of Safaricom’s CEO Bob Collymore, there are questions on how or if Alpha will continue to operate. The space was established in 2017 to spur new product development for Safaricom, which is Kenya’s largest mobile […]

Africa Roundup: CcHub’s iHub acquisition, Andela’s $50M run rate and layoffs, Transsion’s IPO

Two of Africa’s powerhouse tech incubators joined forces in September. Nigerian innovation center and seed-fund CcHub acquired Nairobi based iHub. The purchase amount was undisclosed, but CcHub will finance the deal out of its real estate project to build a new 10-story HQ in Lagos, CcHub CEO Bosun Tijani told TechCrunch. Details are emerging on how […]

Africa’s top mobile phone seller Transsion lists in Chinese IPO

Chinese mobile phone and device maker Transsion has listed in an IPO on Shanghai’s STAR Market, a Transsion spokesperson confirmed to TechCrunch.  Headquartered in Shenzhen, Transsion is a top seller of smartphones in Africa under its Tecno brand. The company has also started to support venture funding of African startups. Transsion issued 80 million A […]

Nigeria’s CcHub acquires Kenya’s iHub to create mega Africa incubator

Two of Africa’s powerhouse tech incubators will join forces. Nigerian innovation center and seed-fund CcHub has acquired Nairobi based iHub — CcHub CEO Bosun Tijani confirmed to TechCrunch. The purchase amount is undisclosed, but Tijani said CcHub will finance the deal out of its real-estate project to build a new 10 story innovation center to […]

Voter manipulation on social media now a global problem, report finds

New research by the Oxford Internet Institute has found that social media manipulation is getting worse, with rising numbers of governments and political parties making cynical use of social media algorithms, automation and big data to manipulate public opinion at scale — with hugely worrying implications for democracy. The report found that computational propaganda and […]

Nigerian online-only bank startup Kuda raises $1.6M

Nigerian fintech startup Kuda — a digital-only retail bank — has raised $1.6 million in pre-seed funding. The Lagos and London-based company recently launched the beta version of its online mobile finance platform. Kuda also received its banking license from the Nigerian Central Bank, giving it a distinction compared to other fintech startups. “Kuda is […]

Update on Nigerian fintech firm Interswitch and its speculative IPO

Nigerian fintech firm Interswitch has been circulating in business news around a possible IPO on the London Stock Exchange. Last month Bloomberg News ran a story—based on unnamed sources—reporting the financial services firm had hired investment banks to go public on the LSE later in 2019. The piece spurred additional aggregated press. That Interswitch—which provides […]