African startups are making significant progress. In this context, the digital economy platform FollowICT highlights the top startup news across Africa over the past week. 6 African Startups Share $400,000 in Funding at the FINCA Ventures Prize Competition Six African startups have won a combined $400,000 in funding at the 2026 FINCA Ventures Prize Competition, which supports entrepreneurs developing innovative solutions to economic and social challenges across the continent. The competition featured two categories: fintech for financial inclusion, and sustainable agriculture and food systems. Through the initiative, FINCA Ventures aims to help startups develop scalable business models that strengthen community…
Author: Mohamed Fathy
African startups are making significant progress. In this context, the digital economy platform FollowICT highlights the top startup news across Africa over the past week. Visa Africa Fintech Accelerator Launches Sixth Cohort with 21 Startups from 9 African Countries The sixth cohort of the Visa Africa Fintech Accelerator has kicked off in Accra, Ghana, bringing together 21 fintech startups from nine African countries operating across 24 markets on the continent. The new cohort includes first-time representation from Niger, Togo and Seychelles, highlighting the growing geographic diversity of Africa’s fintech ecosystem. The startups are developing solutions across areas including payments, remittances,…
MNT-Halan, one of Egypt’s leading fintech platforms, has successfully completed three securitization issuances with a combined value exceeding EGP 4bn, for its two subsidiaries, Halan Consumer Finance and Tasaheel for Finance. The transactions include an issuance of EGP 528.5 million for Halan Consumer Finance, and two issuances for Tasaheel for Finance, valued at EGP 1.2bn and EGP 2.28bn, further strengthening MNT-Halan’s access to diversified funding sources and supporting the continued expansion of its financing activities across Egypt. The issuances have a 13-month tenor and comprise a single tranche. The issuances received an “A-” credit rating from MERIS (Middle East Rating…
TruGift, a new personalized gifting platform, has officially launched, introducing a new way for people to create gifts built around the stories, memories and emotions they share with the people who matter most. Digital Gift Through TruGift, customers share the memories and story behind the gift, choose their preferred language and musical direction, and review the personalized lyrics before the music is produced. The result is a polished digital gift combining music, lyrics and artwork. TruGift supports multiple languages, including five Arabic dialects, allowing customers to create gifts in the languages that feel most natural to their relationship. The experience…
Amazon.eg today announced its collaboration with Shark Tank Egypt for the third consecutive year, creating new pathways for small and medium-sized businesses (SMBs) and entrepreneurs to grow online. Building on the success of previous seasons, the collaboration connects entrepreneurs with Amazon’s selling tools, fulfillment infrastructure, and customer reach, helping local businesses scale sustainably through e-commerce. For the first time this season, Amazon.eg is introducing two Golden Tickets, doubling the opportunity for standout entrepreneurs to receive enhanced support including merchandising opportunities and dedicated account management. The expansion reflects the growing impact of the collaboration and Amazon’s deepening investment in nurturing local…
Egyptian fintech and digital payments company PayMint concluded its participation in Money20/20 Middle East, held in Riyadh, Saudi Arabia, after being selected among 25 companies to advance to the semifinals of the MoneySurge pitch competition, out of 150 participating companies. Payment Solutions During its participation in the conference, one of the region’s leading events dedicated to financial technology, PayMint showcased its payment solutions and fintech services to a wide range of investors, entrepreneurs, and industry experts attending the event. PayMint’s selection among the 25 companies advancing to the semifinals marks a new milestone in the company’s journey and reflects its…
African startups are making significant progress. In this context, the digital economy platform FollowICT highlights the top startup news across Africa over the past week. Aeon Raises $1 Million to Scale Cybersecurity Solutions for Critical Infrastructure Nigerian cybersecurity startup Aeon has raised $1 million in a Pre-Seed round led by Terra Industries, with participation from Resilience17, the fund founded by Flutterwave co-founder and CEO Olugbenga Agboola, alongside Kaleo, DFS Labs, Ajim Capital, and Seedstars. The funding will support product development, engineering team expansion, and the transition of the company’s existing pilot projects into commercial contracts. Aeon is building cybersecurity infrastructure…
As the pace of building and launching applications accelerates worldwide, driven by artificial intelligence and modern programming tools, the scope of threats targeting these applications and the data they handle is expanding in parallel. Cybersecurity is no longer a separate layer added to a product after development is complete; it has become an essential part of the software development and runtime lifecycle, particularly as attackers gain access to the same tools to develop faster and more automated attacks. The scale of global cybersecurity spending reflects the magnitude of this transformation. Gartner expects worldwide information security spending to reach approximately $244…
Egyptian digital payments company “octo” has joined the European Bank for Reconstruction and Development (EBRD)’s “Star Venture” program, in a move aimed at supporting the company’s growth and expansion plans and benefiting from an integrated range of specialized advisory services and expertise designed for high-potential, innovative startups. Supporting Startups The 24-month program provides participating companies with support that goes beyond direct funding, offering specialized advisory and operational assistance to help them identify business gaps and develop growth plans. It also provides access to local and international experts, as well as a broad network of mentors and investors. Karl Marko, Co-Founder…
RcrutAI announced the expansion of its Panther platform to include the commercial real estate and mixed-use development sectors, marking a new milestone in the company’s strategy to build an integrated intelligence and decision-making ecosystem for the real estate development sector. Panther initially launched as a real estate intelligence platform that helps developers make residential development decisions, starting from land and market analysis, through development mix, pricing, and feasibility, all the way to strategy. Today, the platform is expanding this model to include commercial development and mixed-use projects, with an analytical system specifically designed around the nature of commercial decision-making. From…
Caishny, an electronic payments company, recorded financial transactions worth EGP 600 million during the first half of 2026, as the company targets expanding its branch network to 130 outlets across Egypt by the end of the year, with a particular focus on Upper Egypt. The expansion is part of Caishny’s strategy to support financial inclusion, accelerate digital transformation, and expand access to electronic financial services. Ahmed Saeed, Board Member of Caishny, said the company contributes to reducing reliance on cash transactions by supporting the state’s efforts to advance financial inclusion and digital transformation across government entities where cash payments are…
African startups are making significant progress. In this context, the digital economy platform FollowICT highlights the top startup news across Africa over the past week. Medbankr Launches AI-Powered Platform Giving Patients Control of Their Medical Records Nigerian HealthTech startup Medbankr has launched a digital platform focused on health records management and continuity of care, allowing users to maintain long-term access to their medical information. The company describes the product as Nigeria’s first patient-controlled health continuity and intelligence platform, with the aim of shifting control of medical records from healthcare facilities to patients themselves. The platform brings laboratory results, prescriptions, medical…
Everything Under One Platform Everything you need. Under one platform. Receive money. Make payments. Access financing. Manage your finances. At the heart of this connected experience is Mal’s approach to Islamic finance, bringing Islamic financial principles and heritage into a modern platform designed for the way people manage money today. Instead of moving between disconnected providers and repeating the same steps, Mal brings financial capabilities together through one AI-native platform. The result is an experience that feels far removed from traditional financial platforms: a streamlined, intuitive interface where everything is brought together in one place, without compromising the principles behind…
Gainz Crowdfunding has announced that it has received in-principle approval from the Central Bank of Bahrain (CBB) to operate a Shariah-compliant debt crowdfunding platform, marking a step toward introducing a new financing model for small and medium-sized enterprises (SMEs) across the Middle East and North Africa (MENA) region. A Significant Financing Gap The development comes amid a significant financing gap facing SMEs across the region. SMEs account for approximately 96% of registered companies in MENA but receive only around 7% of total bank lending. According to the International Finance Corporation (IFC), part of the World Bank Group, the region’s SME…
Synapse Analytics, an AI company that builds agentic decisioning infrastructure for regulated financial institutions putting policy control directly in the hands of credit and risk teams, announced today that it has raised US$13 million in a Series A funding round, bringing the total raised to US$17 million since inception. Terms of the transaction and valuation were not disclosed. Accelerate Product Development The round was led by Partech, a global technology investment firm, with additional participation from Algebra Ventures and Silicon Badia. The new capital will be used to scale the team, accelerate product development and expand international market reach. Synapse…
Creative Investments Holding (Creative Holding), an investment company dedicated to the creative industries, today announced the conclusion of its founding round, with initial aggregate commitments of USD 20 million at first close subject to definitive agreements, targeting a total raise of up to USD 50 million. Creative Holding is being established by veteran luxury and brands executive Mohamed Talaat Khalifa (MTK) through his investment arm Leo Equities, in partnership with founding investors Mr. Onsi Sawiris, Mr. Ali Abubakr, and the Micro, Small and Medium Enterprises Development Agency (MSMEDA). Creative Holding is led by MTK, alongside seasoned finance executive and arts…
Building on its rapid regional expansion across Saudi Arabia and Egypt, AI startup Velents is driving its growth momentum forward by expanding into Bahrain following a strategic agreement signed with stc Bahrain on the sidelines of LEAP 2026 in Riyadh. The partnership aims to launch an exclusive suite of Agentic AI product bundles tailored for enterprise customers across the Kingdom. Autonomous Digital Agents This milestone partnership solidifies Velents’ position as a key pioneer bringing autonomous digital agents to Middle Eastern enterprises. By integrating Velents’ applied artificial intelligence directly into stc Bahrain’s extensive B2B ecosystem, the partnership bypasses traditional third-party vendor…
Garnest, a platform specializing in vacation rental bookings, is planning to expand across the Egyptian market after attracting more than 5,000 customers within its first two months of launch, while the number of accommodation units listed on the platform has surpassed 500. Expansion Strategy Ahmed Fazara, Founder of Garnest, said the platform aims to grow its customer base to 100,000 and increase the number of listed accommodation units to around 10,000 as part of its expansion strategy in Egypt’s vacation rental market. Fazara explained that Garnest currently operates across Egyptian governorates and tourist destinations, allowing users to search for and…
African startups are making significant progress. In this context, the digital economy platform FollowICT highlights the top startup news across Africa over the past week. UfarmX Facilitates $6.8 Million in Agricultural Commerce Across Africa, Plans Kenya Expansion Nigerian agritech startup UfarmX has facilitated more than $6.8 million in agricultural commerce across Nigeria, Senegal, and Liberia, while preparing to expand into Kenya in the fourth quarter of this year. The company uses blockchain technology to empower smallholder farmers, particularly those who are unbanked or underserved by traditional financial institutions, by improving access to agricultural inputs, credit, markets, and operational data. The…
Synergy Capital, through its regulated asset-management arm Misr for Financial Investments (MFIC), and Nawy Now, the mortgage-financing arm of Nawy, have closed the second issuance of MFIC’s Shariah-compliant, Ijarah-based fixed-income fund at EGP 633 million. The close takes total capital raised under the programme past EGP 1 billion in under a year. Lease-to-Own The programme is structured around an Ijarah (lease-to-own) model, the first of its kind for a fixed-income securities fund in Egypt and the Middle East, offering investors a Shariah-compliant, fixed-income return backed by real-estate mortgage receivables. The fund targets returns above the market average for fixed-income instruments…