Madica invests in three African start-ups

A summit of venture capitalists, technologists and start-up founders heard that as global investment slows international investors are increasingly looking to African start-ups for growth.

According to the partners, the deal will give more reliable and cost-effective digital transaction options to businesses and consumers across Africa.

400 SMEs in eight African countries, South Africa, Kenya, Egypt, Ethiopia, Mozambique, Tanzania, the Democratic Republic of the Congo, and Lesotho, were interviewed.

Following the upgrades, the number of trusted contacts has been increased from one to five, and inDrive’s can reach out to these contacts during emergencies.

Kenya says it stands ready to collaborate with global partners in building strong frameworks and ensure the responsibility use of AI.

The new funds will enable the company to invest in product improvements, expand its service offerings, and enter new markets in Africa.

Proponents claimed that Africa's digital economy has huge promise. However, unlocking this promise depends on eliminating key gaps, such as a shortage of digital skills.

New e-commerce firm, Zandaux, launched in Johannesburg this week with Egypt launch scheduled for 29 February. It also has presence in Kenya and Nigeria.

Riding the aftershock of the global capital crisis, startups in Africa experienced less access to funding than in 2022.

This follows the company's entry into the United Kingdom last year, in an effort to widen its market reach.

The Spark Accelerator Programme will use an ecosystem-based approach to find and accelerate firms, employing a team of specialists who understand market dynamics and new technologies.