Despite the prevalence of shopping malls and the emergence of VC-backed e-commerce companies like Jumia, informal retail in Africa is still king. A 2016 study by PwC states that 90% of sales in Africa’s major economies come through informal channels — markets and kiosks. This presents a large market ripe for digitization, and over the […]
Moove raises $23M to create flexible options for drivers to own cars in Africa
Africa is home to more than a billion people where a majority have limited or no access to vehicle financing. In fact, the continent has the lowest per capita vehicle ownership in the world. In 2019, Africa had fewer than 900,000 new vehicle sales. The U.S. sold more than 17 million new cars that same […]
Chibok schoolgirl freed in Nigeria seven years after Boko Haram kidnap, governor says
Girl and someone she says she married during captivity surrendered themselves to militaryOne abducted girl from the Nigerian town of Chibok has been freed and reunited with her parents seven years after Boko Haram militants kidnapped her and more than …
Nigeria’s Decagon raises millions to finance and train software engineers
This past decade, Nigeria has seen several companies cater to the development and growth of software engineers and tech talent in general. It’s a space many in the Nigerian ecosystem like to think is budding yet overcrowded. So when Chika Nwobi started Decagon in 2018, the perception was generally “here comes another tech talent accelerator.” […]
Nigerian digital freight provider MVX lands $1.3M to help shippers move cargoes faster
In Africa, chartering vessels and processing ocean freight can be challenging. The sector is largely inefficient and fragmented. Merchants also struggle to access finance to perform cross-border trade in the continent. A couple of digital freight companies are tackling this problem, like Nigerian-based MVX. The company today is announcing its $1.3 million seed round to […]
Refugees hit hardest as deadly floods sweep across continents
Death toll rises as storms continue to rip through communities, destroying homes and livelihoodsAs heavy rains and floods dominate headlines around the world, displaced people and those living in conflict zones are among the worst affected. Wind and he…
Out of control and rising: why bitcoin has Nigeria’s government in a panic
As leaders around the world grapple with cryptocurrencies, what happened when the African country tried to ban them?When the Nigerian government suddenly banned access to foreign exchange for textile import companies in March 2019, Moses Awa* felt stuc…
Arrested Biafra separatist’s family accuse Raab of ‘unlawful failure’
Exclusive: Nnamdi Kanu’s relatives threaten judicial review against UK foreign secretary, saying his life is at risk in NigeriaThe family of a British national said to have been arrested in Kenya and taken to Nigeria in an act of extraordinary renditio…
Field Intelligence targets 11 African cities to expand its pharmacy inventory-management service
The company’s Shelf Life project aims to remedy the inventory-management issues in Africa’s retail pharmacies.