Africa Tech News

Partech has closed its second Africa fund, Partech Africa II, at $300 million+, just one year after reaching its first close. Partech Africa, which originally targeted €230 million before its fundraising efforts started, solidifies its position as the largest fund dedicated to African startups. Amidst a backdrop of global VCs and institutional investors pulling back from Africa, Partech Africa’s recent fund closure is significant. The continent witnessed a notable decline in investor activity, with a 50% decrease in 2023 compared to the previous year, as highlighted in a Partech report. This retreat, influenced by global economic shifts and local challenges, translated into reduced venture capital inflows for African startups, totalling between $2.9 billion and $4.1 billion last year, down from $4.6 billion to $6.5 billion in 2022.Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-tech-news--5512041/support.

Roam, a Kenya-based electric vehicle company has raised $24 million in equity and debt to expand local manufacturing capabilities in Kenya, scale up production at its new 10,000 sqm Roam Park facility, invest in research and tooling for cost efficiencies, and streamline local and global supply chain networks. The $14 million Series A funding round was led by Equator Africa and participation from At One Ventures, TES Ventures, Renew Capital, The World We Want, and One Small Planet, among other prominent private and institutional investors. The $10 million debt facility was provided by the International Development Finance Corporation. Estimates from the BloombergNEF show that EV sales are projected to reach 16.7 million in 2024, representing a 20% increase from the previous year.Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-tech-news--5512041/support.

Botswana’s telecoms regulator has warned the public against the importation, use, and resale of Starlink devices in the country. The importation, use, and resale of Starlink devices are punishable offences in Botswana, according to the Botswana Communications Regulatory Authority. Starlink is not yet licensed in the country and the regulator has stated that it is currently vetting the service’s application. Reports indicate that some owners of Starlink devices, who claim to be using them for personal use, are being barred from entering the country with them at the Kazungula border post with Zambia, where the service has officially launched.Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-tech-news--5512041/support.

Disha announced the product will be paused indefinitely from March 31, 2024. Its 100,000 creators have until then to migrate their content and profiles to other platforms. Flutterwave’s CEO Olugbenga Agboola says at the time, that he considered Disha the creator version of Flutterwave Store which now serves over 900,000 businesses across 154 countries. Early in 2022, Flutterwave also paused its Barter by Flutterwave, its virtual dollar card service, due to problems its partner company, Union54, faced with chargeback fraud.Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-tech-news--5512041/support.