Tech

Female-led startups in Africa raised $203.2 million in 2022, report says

Published

2 years ago

January 12, 2023

A report released on Thursday by a research firm which tracks the performance of startups across Africa, has revealed that active female-led startups on the continent raised funds in excess of $203.2 million in 2022.

In the report, the outfit, “The Big Deal”, said though the amount raised was still quite significant, it was 58% less than what they raised in 2021

“There has been a significant focus on funding for African-led startups across the globe. Across the continent, several venture capital (VC) firms have created special funding kitties focusing on women-led tech startups.

“There are also several investment vehicles that only fund women-led enterprises across the continent,” the report noted.

It further added that the reduction of funds raised by the startups in 2022 “largely goes against the general trend of the sector.”

“Last year, however, remains one of the most successful years in capital funding for African startups in general.

The survey also made a comparative analysis of the performance of Africa’s five regions in raising investments, with the result showing that the Western African region received the lion’s share at $1.8 billion in 2022, though there was a shortfall of 12% from 2021 when investments hit $2 billion.

The Eastern Africa region however, hit a $1 billion milestone for the first time, and attracted twice as much funding compared to 2021, rising up to $1.2 billion from $600 million the previous year, while the Southern Africa region recorded a 44% loss from $1.1 billion in 2021 to just over $600 million in 2022.

The Central African region was only able to raise $50 million which even an increase to double the funds raised in 2021.

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Tech

Ghana partners with The Gambia to provide free roaming services

Published

9 hours ago

November 21, 2024

Isaac Dachen

Ghana and The Gambia are in the process of launching free roaming services that will enhance a West African connectivity.

The plan which is a joint initiative of the Ghana Ministry of Communications and Digitalisation and The Gambian National Communications Authority (NCA) will see mobile users in both countries avoiding extra charges for calls, texts, and data, which in turn, is expected to boost trade, tourism, and economic integration across borders.

The collaboration, according to a joint statement by the two bodies, aligns with the Economic Community of West African States’ (ECOWAS) broader push for seamless regional communication.

“Ghana and The Gambia are forging new paths in West Africa’s digital landscape, implementing a free-roaming initiative,” the statement said.

“This move strengthens regional connectivity while highlighting the role of technological collaboration in fostering economic integration. The initiative enables mobile users travelling between the two nations to make calls, send messages, and use data services without additional roaming fees.”

It further noted that by reducing these costs, the program aligns with the ECOWAS Free Roaming Initiative, which seeks to eliminate barriers to communication across member states.

“It is a boost for trade and travel as the free roaming plan is expected to spur economic activities by streamlining cross-border communication.

“Businesses and individuals travelling between Ghana and The Gambia can now stay connected without worrying about exorbitant charges, facilitating smoother transactions and personal interactions. The initiative is also expected to attract more tourists by ensuring seamless digital access for visitors.

“This collaboration marks another milestone in Ghana’s commitment to expanding digital connectivity, following Ghana’s successful implementation of similar agreements with Côte d’Ivoire, Togo, and Benin, with talks of possible roaming partnerships with Liberia.

“By focusing on digital integration, Ghana and The Gambia demonstrate the power of technology to bridge gaps between countries. This step also serves as a model for other West African nations to join the free-roaming framework, contributing to the larger goal of a connected and economically integrated region,” it added.

Tech

Tanzania to host 6th Ocean Innovation Africa summit in February

Published

1 day ago

November 20, 2024

Isaac Dachen

Dar es Salaam, Tanzania, has been selected to host the sixth edition of the Ocean Innovation Africa (OIA) summit from February 24-28, 2025, as a flagship event within Regenerative Ocean Week.

The Ocean Innovation Africa is set to be Africa’s most significant platform for Ocean Innovation conservation, and sustainable development in the blue economy. OIA2025 will be co-organised with leading partners, including IUCN, GIZ, OceanHub Africa, Catalyze and the Ocean-Climate Platform.

With the theme, “Science-to-Solution”, the Regenerative Ocean Week will present a line-up of sessions designed to bridge the gap between scientific research, business innovation, policy, and community engagement.

According to the organizers of the event, it will bring together African ocean innovators, investors, researchers, policymakers, and community leaders to explore practical solutions that can be applied across the continent.

“These include the OIA Pitch Competition, which is a platform for Africa-based startups and entrepreneurs to showcase breakthrough ideas in ocean-impact solutions, allowing them to connect with investors and industry leaders and emphasizing Africa’s role in driving sustainable ocean initiatives,” the organizers said in a statement.