Besides being the chief executives of multibillion-dollar African startups, Olugbenga Agboola of Flutterwave, and Ham Serunjogi of Chipper Cash have one other thing in common: credentials from US universities. A lot of African tech leaders that raise venture capital funding are like them.
Fintech startup, Afriex, has raised a seed funding round worth US$1.2 million as it bids to scale its payments and remittances platform across Africa. Founded in late-2019, Afriex provides instant, zero-fee transfers to Africans at home and in the diaspora. The startup’s platform allows users to deposit cash on the app, send money to a bank account or another user, and withdraw money to a connected bank or debit card.
Following its expansion to South Africa, Kiakiaprint, a Nigerian print-on-demand startup, is now live in the North American countries of Canada and the US. The expansion news coincided with the startup’s partnership with online design and publishing company, Canva.
NEW YORK — Verityhurst (Pty) Ltd, a South African-based Private Equity firm announces its North America operation offices will be opening in November 2020. The North America operation office will be located in New York City, and will be headed by a Vice President, who will be recruited in NYC.
Do you live around Oklahoma City, Tulsa in the State of Oklahoma? And you’ve been checking for an affordable freight forwarding company that ships from USA to Nigeria as well as delivering cargo from Nigeria to USA?
U.S-based Fintech firm, Esusu Financial has raised a $2.3 million in seed extension to boost its expansion plans in the States. The funding round was led by Acumen Fund, Concrete Rose Capital, Global Good Fund, Impact America Fund, Next Play Ventures, and Zeal Capital Partners.
Skynamo, the South African-based SaaS provider of field sales technology, has selected Atlanta as the new location of its North American headquarters after securing a $30 million dollar investment from software investment firm, Five Elms Capital, earlier this year. The headquarters is located in The Battery Atlanta.
With today’s e-tailers, the latest It-bag from Paris is hardly ever out of reach, nor is a pair of handcrafted Italian shoes. So, when Amira Rasool visited Africa for the first time, she was inspired by all the luxurious designs — but immediately had questions.
by Tareian King for John Campbell | Center for Foreign Relations
The African diaspora sends more money to Africa than U.S. foreign aid and foreign direct investment. In 2018, sub-Saharan Africa received $25 billion in development assistance. In that same year, immigrants in the United States sent $46 billion in remittances to their home countries in Africa, out of a total of $150 billion sent from the United States globally.
African cross-border fintech startup Chipper Cash has closed a $13.8 million Series A funding round led by Deciens Capital and plans to hire 30 new staff globally. The raise caps an event-filled run for the San Francisco-based payments company, founded two years ago by Ugandan Ham Serunjogi and Ghanaian Maijid Moujaled.
New York, NY, June 11, 2020 – Wines of South Africa (WOSA) USA, the industry association that promotes the exports of South African wine, is proud to announce the launch of two initiatives aimed to offer continued education and awareness of South African wines, as well as support out-of-work sommeliers: the Wines of South Africa Podcast and WOSA Somm Sessions. The latter offers consumers a sommelier-led virtual tasting experience geared to their own tastes and selection of South African wines.
Amid the racial protests, the rapid spread of Covid-19 Virus and accelerated unemployment particularly among People of Color, a Chesterfield, Virginia based culi-tech black owned company, Vibrainium Learning, Inc., launches the GotSoul? App. The GotSoul? App is a restaurant guide that features just under 5,000 African inspired cuisine, restaurants and experiences (Cajun, Creole, Nigerian, Gullah, Soul Food, Jamaican, Afro-Brazilian, etc.) across Africa and the African Diaspora, of which 98% are Black-owned.
The Covid-19 pandemic has disrupted the lives of many Kenyans living in the US, with some losing their jobs, sent on unpaid leave, or forced to shut businesses for those who are self-employed. But for 28-year-old Moses Mbai, a Kenyan entrepreneur based in Dallas, Texas, the pandemic is a ‘blessing in disguise.’
US-Nigerian fintech company Flutterwave has created an e-commerce platform for African companies, becoming the latest start-up to see opportunities in the lockdowns that have been imposed as a result of the coronavirus.
Mathew Knowles, the father (and former manager) of artists Beyoncé and Solange Knowles, has made an undisclosed investment in Nigeria-based music startup, MePlaylist. MePlaylist is a music streaming platform founded by Olakunle Oladehin in 2017.
The service is available across Nigeria, Ghana, Kenya, Uganda, Tanzania, South Africa, Zimbabwe, as well as the UK and North America.
U.S. investors may not be familiar with Prosus (OTC: PROSY), one of the largest and newest European tech stocks. Prosus is a new company formed last September when South African media and investment firm Naspers (OTC: NPSNY) spun off its global internet investments from its core South African media and e-commerce operations into a stand-alone company.
Global remittances to Sub-Saharan Africa (SSA) grew by 10% to $46B in 2018 (the last year for which we have complete data from the World Bank). Remittances, or money sent as a gift typically from family members working in a high-income country to family members living in low- or middle-income countries, are an important part of the global economy. They account for more transfer of funds to SSA than aid from the top 10 donor countries and institutions. The money sent to Africa through remittances is actually larger than many African-country GDPs. Remittances would be the 12th most productive economy in SSA, just behind the Democratic Republic of the Congo and ahead of Côte d’Ivoire.
By Dinesh Nair, Myriam Balezou and Loni Prinsloo Bloomberg
Wireless towers operator IHS Holding Ltd. has hired banks to oversee what may be the biggest initial public offering of an African company in the U.S., according to people with knowledge of the matter.
Four years ago, a bank in the United States was on the verge of collapsing when a Ghanaian firm came to its rescue. The Ghanaian firm Groupe Nduom, an entrepreneurial and enterprise building firm then operating out of West Africa and the UK, donated as much as $9 million into the ISF Bank to revive its struggling operations.
Located at the heart of Washington, District of Columbia, USA is a restaurant, Safari DC famed for the Kenyan cuisines it dishes out and is the only Kenyan themed eatery in Washington DC.
The restaurant has hosted a number of prominent persons from Kenya when they made their trips abroad, most notably President Mwai Kibaki, ODM leader Raila Odinga, Kalonzo Musyoka, Keneth Matiba, and Mama Sarah Odinga the Standard reported.
Many people that have visited the restaurant, shower it with praise stating that it gave them a taste of Africa and the zeal of African food. It has established itself as a fan favorite among Kenyans and Africans in the larger DC metro area.
“Once you walk in here, you are an African and we love to eat, talk politics and interact with each other,” Everitus Kalaba then a Consular official from Zambia described the restaurant.
The restaurant was founded by William Mukabane and his wife Alice. Coincidentally, Mukabane left for the US to pursue the American dream the same day President Jomo Kenyatta passed on, August 1978.
After doing manual jobs at various restaurants, he pursued hotel Management and classical french cuisine, served as a chef and later branched out to start the restaurant.
A yearn for Kenyan food ignited the desire to establish a restaurant majoring in African delicacies.
Talks of the restaurant as an authentic Kenyan cuisine joint attracted people across Washington DC, inking its name among fan favourites.
A corner of the restaurant is dedicated to US’s 44th President Barack Obama and was christened the Obama shrine.
During Obama’s inauguration, it hosted his grandmother, Mama Sarah Obama and several Kenyan dignitaries who were set to attend the function.
A section of Safari DC, a Kenyan-themed restaurant in Washington DC. A section of Safari DC, a Kenyan-themed restaurant in Washington DC. She came in at around 10 am and left at 3 pm. I treated them to Tilapia, Samosas, Kenyan sausages, chapatis, nyama choma,” Alice recounted.
The hotel features cuisines such as grilled meat, staples such as collard greens, cassava, and grains.
In 2017, the restaurant was acquired by David Laichena, a Kenyan, and he along with his partner continued the Kenyan theme for the restaurant.
According to American publication Petworth news, some of the chefs at the restaurant are Kenyans. And Laichena constantly liaises with the Kenyan embassy to import Kenyan chefs for the restaurant.
For its African dominated menu, the restaurant imports a majority of the foods from Kenya. Kenyan tea including spiced masala tea, Arabica coffee from Kenya, Tilapia from lake victoria, Farmer’s choice pork sausages.
The soothing Kenyan music that plays in the background adds to the African experience the restaurant’s clientele seeks.
Cross the Atlantic Ocean from his native homeland Liberia, Mr. Peter Massaquoi, had big dreams of becoming successful in the United State but had no idea of venturing into the insurance business.
Peter like many other Liberians and decedents of African, Asian, European countries who come to the USA via the Diversity Visa Program only think of working for other people or companies and earning money to improve their living conditions.
PITTSFIELD — Bright Abbey has been an entrepreneur all his life. He has owned a restaurant and a medical equipment shipping firm. Those were in Ghana, though. Omega1 African Fashion on North Street is his first business venture in America.
A summit on U.S.-Africa trade slated for later this month in Atlanta aims to reframe investors’ thinking about opportunities on the continent of more than 1 billion people.
Headlined by keynote speaker Ambassador Andrew Young, the U.S.-Africa Trade and Investment Global Summit Sept. 26-28 is set to bring in speakers from across the continent with a heavy focus on agriculture but an even keener eye toward exposing tangible opportunities — especially government incentives.
Trade, the African Continental Free Trade Area, Prosper Africa initiative, business networks and more will be in focus during the upcoming Making African Trade Easy Forum organized by Believe in Africa Foundation. Considering that this is the 5th anniversary of Believe in Africa, we decided to do something different, says Founder and CEO Angelle Kwemo in a preview of the forum with Pan African Visions.