Airtel Nigeria has announced the appointment of Dinesh Balsingh as its new Chief Executive Officer and Managing Director, effective November 1, 2024. This marks a significant leadership transition as Balsingh takes over from Carl Cruz, who has resigned to return to the Philippines. Balsingh brings a wealth of experience and a strong track record in the telecommunications industry, making him a valuable addition to Airtel Nigeria’s leadership team.
JADA, a data and analytics talent hub focused on staff augmentation, is working to reshape the AI talent landscape in Africa. Founded in 2024 by Massimiliano Spalazzi, former Jumia Nigeria CEO, and Olumide Soyombo, co-founder of Bluechip Technologies and Voltron Capital, JADA is on a mission to unlock Africa’s full potential in producing top-tier AI professionals. The startup has successfully raised $1 million from its founders and other investors, fueling its ambitious goals.
DigMo, a new fintech licensed by the Bank of Zambia, is redefining financial planning for underserved users with engaging, gamified wealth-building tools. Targeted specifically at low and middle-income earners in Zambia, DigMo’s wallet offers accessible and incentivized products designed to build lasting financial resilience. Its “Save to Win” feature is a unique, fee-free savings option that encourages users to save small amounts regularly, with the added motivation of potential rewards of up to 500,000 ZMW.
Colis.ma, a Moroccan cross-border logistics startup, has successfully secured $300,000 in pre-seed funding from Witamax, a private-backed venture capital firm. This financial backing will empower Colis.ma to solidify its presence across Morocco’s five largest regions and expand its operations into six European countries, with plans to further penetrate the West African market. The startup is also eyeing a subsequent fundraising round slated for early 2026, aimed at capturing additional market share within the logistics sector.
Sawari Ventures, an Egypt-based venture capital firm, is gearing up to launch its second fund, “Sawari Ventures II,” in early 2025, with a target of raising $200 million. This new initiative aims to build on the successes of the firm’s first fund while expanding into new sectors and regions across Africa. With the growing demand for investment in technology and innovation, Sawari Ventures II is poised to make a significant impact on the startup ecosystem in the region.
Kenya has solidified its position as the leading African country in startup funding, raising an impressive $437 million (Sh56.5 billion), which accounts for 31% of the total funds raised on the continent in 2024. This remarkable growth underscores the strong confidence that global investors have in Kenya’s strategic location, fast internet speeds, and favorable business policies.
Mastercard has unveiled its latest cohort of startups joining the Start Path Emerging Fintech program, showcasing a lineup of 10 cutting-edge companies that are set to make waves in the digital economy. This carefully selected group includes AWorld, Bankingly, FootprintLab, HowGood, Inovat, Lasso Security, Reewild, UrbanFox, Uvicuo, and Vaayu—each bringing a unique approach to solving modern challenges in areas such as sustainability, cybersecurity, digital transformation, and travel. By supporting these innovators, Mastercard aims to drive progress and create a more sustainable, secure, and interconnected world.
Endeavor South Africa has successfully raised R190 million in the first funding round of its ambitious R500 million Harvest Fund III, aimed at investing in African tech startups and companies. This initial close not only exceeded the target of R150 million but also reinforces Endeavor’s commitment to nurturing high-potential tech enterprises across the continent, underscoring the growing confidence in Africa’s vibrant tech landscape.
