Technology & Innovation

East African Startups Raised the Most Funding in May 2023.

Jonathan N. LubwamaEntrepreneurshipTechnology & InnovationThe Big StoryJune 6, 2023June 6, 2023

As per Africa: The Big Deal, African startups raised $621.8 million from just 34 deals which makes it an average of $18.3 million per deal in May 2023. This is…

Continuing its Cost-Cutting Measures, Chipper Cash Undertakes a Third Round of Layoffs Since December

Jonathan N. LubwamaBusiness & MarketsEntrepreneurshipNews & AnalysisTechnology & InnovationThe Big StoryJune 5, 2023June 6, 2023

Pan African startup, Chipper Cash, has laid off at least 10 employees in its latest round of playoffs including the Global Head of Marketing and the Country Director of Kenya….

Explainer: How Are Startups Valued?

Jonathan N. LubwamaBusiness & MarketsEntrepreneurshipNews & AnalysisTechnology & InnovationThe Big StoryJune 1, 2023June 1, 2023

In startups and general businesses, valuation refers to the process of determining the financial worth or value of a company. It is an estimation of what the market considers the…

Ugandan Fintech Zofi Cash Raises USD 1 Million to Disrupt the Salary Advance Industry in Africa. 

Jonathan N. LubwamaC-Suite LeadershipEntrepreneurshipExecutive ProfilesTechnology & InnovationThe Big StoryMay 29, 2023May 30, 2023

Ugandan fintech, Zofi Cash, has raised USD 1 Million in a pre-seed round from Advancly. The funding round, which is purely debt, will see Zofi Cash extend its salary advance…

How Paul Kirungi Left a Six-Figure Job in the USA to Start a Startup in Uganda.

Jonathan N. LubwamaEntrepreneurshipExecutive ProfilesTechnology & InnovationThe Big StoryMay 26, 2023May 26, 2023

In September 2012, Paul Kirungi arrived at New York’s John F. Kennedy International Airport, with one goal in mind, to pursue the American dream. Paul had decided to leave behind…

Jumia’s Q1 2023 Financials: Losses Fell by More Than 50% Despite a 22% Drop in Active Users.

Jonathan N. LubwamaBusiness & MarketsEntrepreneurshipNews & AnalysisTechnology & InnovationMay 25, 2023June 6, 2023

Africa’s leading e-commerce platform, Jumia, recently recorded strong financial growth in the first quarter of 2023. This happened under her new leadership led by Francis Dufay who became full-time CEO…

43% of African Banks Identify Fintechs, Neobanks and Telecoms as Top Threats to Their Business.

Jonathan N. LubwamaBusiness & MarketsEntrepreneurshipGlobal NewsNews & AnalysisTechnology & InnovationThe Big StoryMay 23, 2023May 23, 2023

43% of banks cited the rise of fintechs and challenger banks as the biggest threats to their business according to the third edition of the African Digital Banking Transformation Report…

How Future Africa’s Olga Kiconco is Charting Her Own Path in Venture Capital.

Jonathan N. LubwamaEntrepreneurshipExecutive ProfilesTechnology & InnovationMay 22, 2023June 6, 2023

When Olga Kiconco finished her Bachelor’s Degree in Telecom Engineering at a university in Malaysia in 2013, she knew it was time to look for jobs. But when she came…

Data Story: 31 million Ugandans Cant Afford Internet.

Jonathan N. LubwamaBusiness & MarketsEntrepreneurshipLists & RankingsTechnology & InnovationThe Big StoryMay 19, 2023May 19, 2023

According to the Internet Poverty Index, produced by the World Data Labs and supported by the Internet Society Foundation, 31 million Ugandans can not afford the Internet or live under…

Safeboda’s New CEO, Rob Sanford, Aims for Profitability and Growth Amid a Challenging Global Environment for Startups.

Jonathan N. LubwamaBusiness & MarketsC-Suite LeadershipEntrepreneurshipNews & AnalysisTechnology & InnovationThe Big StoryMay 19, 2023June 6, 2023

In an address to the Assembly Hall at the Paulskirche in Frankfurt, Germany on June 25, 1963, the then USA president, John F Kennedy said one of his famous quotes….