This Week in African Tech 🌍

Partech's $300m fund for African startups

Caleb Maru
February 24, 2024

Welcome to Tech Safari!

Your tour guide on African Tech 🧭

Hello to the new folks who have joined the Safari since the last edition.

If you haven't subscribed, join 18,719 smart folks curious about Tech in Africa.

Hello and welcome to this week in African Tech!

Let’s dive right into this week’s roundup.

Partech Africa, the global VC, has closed its second Africa-focused fund, “Partech II”, at $300 million, double the amount of its first fund, which closed at $143 million in 2018. This time around, Partech is looking to invest in seed to Series C rounds with amounts ranging from $1 million to $15 million.
14 months after X laid off its Ghanaian team, there's finally some good news for the ex-employees! The company has sorted out the severance pay issue with the ex-employees. However, the details of the settlement are unknown.
Gebeya, a Pan-African SaaS-enabled marketplace based in Ethiopia, has rebranded to become an all-in-one Talent Cloud provider. Gebeya began as an EdTech startup in 2017 and later evolved into a marketplace that connects tech professionals with open roles. Now, Gebeya Talent Cloud (G-TC) is a smart platform powered by AI.
Disha, a no-code platform owned by Flutterwave, is temporarily shutting down on the 31st of March, 2024. The company says it’s taking this time to reassess its goals and cook up fresh ways to serve its users. Currently, Disha helps creatives market their products and process payments.
Wahu Mobility, a Ghanaian electric mobility startup, has opened its first factory for local production of EV bikes. The company aims to produce 200 electric bikes every month this year and employ over 3,000 employees by the end of the year.

Kenya is taking steps to regulate cryptocurrency trading in the country, due to worries that crypto might be used to launder funds or finance terrorism. The country is doing this to avoid being grey-listed by the Financial Action Task Force (FATF).

Mamamoni, a female-focused fintech that helps low-income women in Nigeria become financially independent, raises $270,000 in funding from the Challenge For Youth Employment (CFYE). Mamamoni aims to expand its network of female agents with the new funding.
d.light, a global provider of affordable solar-powered solutions, raises $7.4 million from Chapel Hill Denham's Nigeria Infrastructure Debt Fund. The company will use the funding to provide more solar-powered products to low-income households in Nigeria.

Hohm Energy, a South African climate startup, raises $8 million in seed funding. Its former backers, E3 Capital and 4DX Ventures, led the round. With this new funding, the startup aims to increase the use of rooftop solar panels in South Africa.
Arnergy, a Nigerian cleantech startup, raises $3 million in funding from All On. The startup will use the funding to increase sales of its renewable energy products in Nigeria.

Applications are now open for the 2024 AfricaTech Awards at VivaTech. This year’s awards will spotlight notable startups in climate tech, health tech, and e-commerce and fintech. To participate, eligible startups need to apply here before the 10th of March, 2024.
The ProvidusBank SME Program is now accepting applications for its fourth cohort. The Program aims to teach business owners in Nigeria how to transform their businesses and be more profitable. Interested SMEs can apply here before the 18th of March, 2024.
Amplify South Africa is now accepting applications from independent media businesses. The program provides mentorship and funding to help media businesses innovate and grow their audiences and revenue. Apply here before the 16th of March, 2024.

And that's a wrap for this week!

Did we miss anything? Or just want to say hey? I'd love to hear from you! You can

And if you don't already, make sure to sign up to get this in your inbox next week.

And remember - it just takes just five referrals to join our WhatsApp community 👇🏾