Egypt’s Micro, Small, and Medium Enterprise Development Agency (MSMEDA) has announced a significant $7.5 million investment across three regional venture capital funds, reinforcing its commitment to fostering entrepreneurship and supporting startups. This initiative aligns with Egypt’s Vision 2030 strategy, which emphasizes economic diversification and innovation to drive long-term growth. One of MSMEDA’s latest contributions includes a $2 million investment in the P1 Ventures Fund, which seeks to support high-potential startups across multiple industries. While its primary focus is on Egypt, the fund also aims to empower businesses with the potential to scale into African markets. MSMEDA’s CEO, Basil Rahmi, highlighted…
Author: Yanga Manci
Botswana’s newly elected President, Duma Boko, has secured a pivotal diamond extraction and sales agreement with De Beers, bringing stability to the nation’s gem-reliant economy. The agreement, finalized by midnight on January 24, will be formally announced in the coming days, Boko confirmed in a recent interview. As the world’s leading producer of rough diamonds by value, Botswana heavily depends on the diamond industry for its revenue. Most of its diamonds are mined by Debswana, a joint venture between Anglo American’s De Beers unit and the government. “The issue with De Beers has been settled,” Boko stated from Dar es…
DeepSeek, a Chinese AI startup, has set the AI industry abuzz with the release of its ground-breaking R1 model. Unveiled on Friday, R1 has drawn widespread attention for its impressive functionality and accuracy, rivalling U.S.-based counterparts while using fewer resources and less computational power. While this milestone is undoubtedly a win for the global AI community, it has sparked significant repercussions for certain stakeholders—most notably Nvidia. The semiconductor giant is reeling in the wake of DeepSeek’s announcement. According to Yahoo Finance data, Nvidia’s stock plummeted 16.9% between the close of Friday’s public markets and the close on Monday. This sharp…
The Democratic Republic of Congo (DRC) took centre stage on the 21st of January 2025, hosting the “Invest in DRC” forum in Paris. This event, organized in collaboration with NBA legend Tony Parker, highlighted the DRC’s untapped potential and its commitment to attracting global investors. With the endorsement of President Félix Antoine Tshisekedi, the forum sought to address the challenges facing the nation while presenting a vision for sustainable economic growth. The gathering brought together a diverse mix of public officials, private sector leaders, and institutional stakeholders to foster collaboration and ignite interest in the DRC’s vast opportunities. The “Invest…
Moniepoint Inc., Nigeria’s leading business payments and banking platform, has secured a significant investment from Visa, a global leader in digital payments. This strategic partnership underscores Visa’s commitment to fostering financial inclusion, driving the growth of digital payments, and supporting small and medium-sized enterprises (SMEs) across Africa. Founded in 2015 by Tosin Eniolorunda and Felix Ike, Moniepoint Inc. (formerly TeamApt Inc.) has established itself as a cornerstone of financial empowerment for Nigerian SMEs. The platform offers a suite of services, including digital payment solutions, banking tools, credit access, and business management resources. With over one billion transactions processed monthly and…
South African insurtech firm Naked has made headlines by securing $38 million (R700 million) in its Series B2 funding round, which is the company’s largest capital raise to date. This milestone not only showcases Naked’s rapid growth but also highlights its significant role in rejuvenating an industry that has seen limited activity in recent years. The round was led by global impact investor BlueOrchard, alongside continued backing from Hollard, Yellowwoods, the International Finance Corporation (IFC), and Germany’s DEG. This funding builds on Naked’s impressive track record, which includes R20 million in seed funding in 2018, R160 million in Series A…
The Ikusasa Student Financial Aid Programme Foundation NPC (ISFAP) has proudly invested over R220 million since 2017 to provide crucial wrap-around support to students receiving bursaries from the organisation. This substantial investment reflects ISFAP’s unwavering dedication to ensuring that students are equipped with the tools they need to succeed academically and personally as they work toward their qualifications. “ISFAP is committed to supporting deserving students in obtaining tertiary qualifications that meet the demands of our economy,” stated Werner Abrahams, CEO of ISFAP. “Our mission goes beyond financial aid. We walk alongside our students throughout their educational journey, offering mental health…
As organizations, governments, and communities increasingly demand responsible practices, the IT distribution landscape is undergoing a profound shift. Sustainability is no longer just a buzzword—it’s becoming a cornerstone of operations, innovation, and community engagement. Looking ahead, here are the key sustainability trends poised to reshape the sector in 2025. Sustainability as a Core Business Strategy Sustainability has evolved into a fundamental component of corporate strategy for IT distributors. Beyond reducing environmental footprints, it now plays a pivotal role in building resilience and ensuring customer satisfaction. With rising regulatory pressures and growing demand for responsible business practices, IT distributors are aligning…
Sports is deeply ingrained in South African culture, evoking a powerful emotional connection that generates an electrifying atmosphere for both players and spectators. Among these cherished sports, cricket stands out as a unifying force, bringing millions of South Africans together. It transcends borders, ignites resilience and passion, and nurtures a profound sense of community. Behind the scenes, a complex logistical operation unfolds, ensuring that everything runs smoothly, from the moment the teams arrive to the final ball bowled. This intricate dance of coordination is where smart logistics takes center stage, and its role is becoming increasingly critical in the fast-paced…
Xpert Decision Systems’ (XDS) innovative AI-powered facial recognition software, Ares-i, which was launched in 2024, has since shown its capability in helping transform risk management within the retail sector. As businesses face mounting challenges in a volatile economic environment, Ares-i remains an essential tool for proactively identifying, assessing, and mitigating risks that threaten operational stability and customer satisfaction. The retail industry in South Africa is currently grappling with significant challenges, particularly as consumers experience economic strain following festive season spending. This environment has led to an increase in risks such as shoplifting and fraud, making robust risk management more critical…
