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Africa’s electric mobility story has often been one of promise over progress. Infrastructure is scarce, power grids are unreliable, and most markets still run on cheap imported motorcycles. But Dubai-headquartered Spiro has spent the past two years trying to rewrite that narrative. The company just announced a $100 million investment round led by The Fund … Read more
Key Takeaways Ripple partners with Absa, a major South African bank, to deliver institutional-grade digital asset custody services. The partnership strengthens Ripple’s presence in emerging markets, especially following recent collaborations in the Middle East. Share this article Ripple, a blockchain company, has partnered with Absa Bank, a major African bank, to provide institutional-grade digital asset … Read more
Key Takeaways VALR has launched xStocks, enabling users to trade tokenized US-listed equities on its platform. xStocks tokens can be traded against USDT, Bitcoin, Ethereum, and the South African rand without share ownership rights. Share this article VALR, Africa’s top crypto exchange by volume, has rolled out xStocks, becoming the first platform in the region … Read more
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Lesotho’s trade minister has warned that the country’s textiles industry, a major exporter to brands such as Levi’s and Wrangler in the US, risks having to fold if Donald Trump presses ahead with 50 per … Read more
Dotting the roadside in what is widely considered Africa’s largest urban slum are typical stands selling vegetables. What isn’t typical is their acceptance of bitcoin as a form of payment. Around 200 people use bitcoin in Soweto West, a neighborhood of the Kibera slum in Kenya‘s capital. It’s part of an initiative to extend financial services to one … Read more
In 2023, co-founders Karim Jouini and Jihed Othmani sold their expense management startup Expensya to Swedish procurement software firm Medius in what is widely considered to be one of the largest acquisitions of an African startup. Some sources say the sum was just over $120 million, although deal terms were not disclosed. Success achieved, both … Read more
Donald Trump has long been preoccupied with South Africa’s most fraught and emotional domestic policy issue: land. In his first term the US president directed his then Secretary of State Mike Pompeo — via Twitter — to “closely study the South Africa land and farm seizures” and the supposed “large-scale killing of farmers”. This week … Read more
President of South Africa Cyril Ramaphosa (L) and U.S. President Donald Trump exchange words during a meeting in the Oval Office of the White House on May 21, 2025 in Washington, DC. Relations between the two countries have been strained since Trump signed an executive order in February that claimed white South Africans are the … Read more
When Deepankar Rustagi last raised money for OmniRetail in 2022, excitement was high for African startups addressing the supply chain and operational challenges in the fast-moving consumer goods (FMCG) sector. At one point, these startups received more capital than all sectors, except fintech. Recently, though, the industry’s enthusiasm and venture capital’s interest have faded, as … Read more
Last year, funding into African startups edged past $2 billion, returning to pre-pandemic levels and presenting a mixed bag as expected. Signs suggest 2025 will follow the cautious trends of the past two years. A sharp decline in mega-deals, mirroring global venture capital tightening since the boom of 2020-2021, pushed local and international investors to … Read more
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