Jumia shares rise as the company’s e-commerce business revs up in Q2

African e-commerce giant Jumia reported its second-quarter financial performance today. In the wake of its financial reporting this morning, Jumia’s shares climbed sharply, gaining more than 15% in early trading to $8.12 per share and bumping slightly to $8.30...

Beacon Power Services raises $2.7M to improve electricity access for sub-Saharan African cities

Sub-Saharan Africa’s share of the global population without access to electricity stood at 77% in 2020, according to reports. Also, the average daily electricity supply in some of Africa’s largest cities is less than 12 hours. As a result, individuals and...

Amazon Prime Video launches local service in Nigeria

Amazon Prime Video today announced the launch of the localized version of its streaming service in one of Africa’s biggest markets: Nigeria. Just as it did in Southeast Asia some days back, the tech giant is attempting to boost its subscriber push in new markets...

Black Gen Z VCs are here and swinging for the fences

One day early in the pandemic, Dazayah Walker came across a job she’d never heard of before: venture capitalist investor. The pandemic ensured she had time, and intrigued by the profession, she started teaching herself the trade. She soon realized it was a way to...

Nigeria’s internet regulator releases draft to regulate Google, Facebook, TikTok and others

Nigeria has announced plans to regulate internet companies like Twitter, Facebook, WhatsApp, Instagram (all owned by Meta), Google and TikTok in a draft shared by the country’s internet regulator.  This information, released by the National Information Technology...

Betastore gets $2.5M to solve stock-outs, financing challenges for informal retailers in West and Central Africa

About 80% of household retail in sub-Saharan Africa is delivered through informal channels, which perennially face several challenges like stockouts, leading to an instability in earnings, and a lack of attractiveness to financiers. These challenges befall millions of...