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. Africa’s Business Heroes Names 20 Entrepreneurs From 12 Countries for 2026 Semi-Finals Africa’s Business Heroes (ABH) has selected 20 entrepreneurs from 12 African countries for the 2026 semi-final stage, moving the founders closer to competing for a share of the competition’s $1.5 million prize pool. The cohort spans a wide range of sectors, including agritech, healthcare, fintech, manufacturing, climate technology, education, biotechnology and digital services. Egypt has the largest representation with four entrepreneurs: Ahmed Shaaban,…
Author: Mohamed Fathy
GEEKS STORE has announced the signing of a strategic partnership agreement with iFLYTEK, one of China’s leading artificial intelligence companies, under which GEEKS STORE becomes the sole and exclusive national distributor of iFLYTEK products in Egypt, as well as the brand’s official and exclusive representative in the Egyptian market. Strategic Step The agreement marks a strategic step in Geeks’ expansion into advanced technology, particularly artificial intelligence, with the partnership beginning with the launch of iFLYTEK products in Egypt, led by the AINOTE 2 and AINOTE 2 Air. The products will be officially available to Egyptian consumers, supported by warranty coverage…
Arab Therapy, a leading AI-powered mental health platform, founded by Dr. Tareq Dalbah (CEO) and Hekmat Al Hasi (CPTO), today announced the closing of a $2 million Pre-Series A funding round, led by Manara Ventures (Jordan) with participation from Anara Impact Fund (MENA), and VMS (Saudi Arabia). Expansion The investment will accelerate Arab Therapy’s expansion across Saudi Arabia and the rest of the region, scale its integrated AI-powered mental health platform, help more individuals access personalized mental healthcare and enable organizations to proactively improve employee wellbeing at scale. Arab Therapy was founded in Berlin, Germany by Jordanian founders, and currently…
UMAMI E-Learning Solutions, a leading Egyptian provider of digital learning and workforce development, has announced the launch of its Learning Operating System (LOS™), a next-generation intelligent learning infrastructure built to serve governments, ministries, and large-scale institutions across the MENA region. The initiative is backed by a phased investment plan exceeding EGP 50 million. Skills Development As governments, educational institutions, and enterprises face increasing pressure to measure workforce readiness, skills development, and the real impact of learning investments, traditional learning technologies are no longer sufficient. Organizations require integrated systems that transform learning data into actionable insights and measurable outcomes. Having supported…
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. Yellow Card Raises $40 Million to Expand Stablecoin Payment Infrastructure Africa-founded fintech startup Yellow Card has secured $40 million in strategic equity financing to accelerate the expansion of its institutional stablecoin payments business. The funding round attracted major investors, including SC Ventures, Sony Innovation Fund, Polychain Capital, and Blockchain Capital. The latest investment brings the company’s total equity funding to more than $120 million and significantly increases its valuation compared with its 2022 valuation. The…
Beltone Venture Capital has announced the successful partial exit from BirdNest, delivering a 3.5x return on invested capital and an 80% internal rate of return (IRR) over a two-year holding period. The Partial Exit The partial exit was executed across Beltone Venture Capital’s direct stake and its indirect stake through the joint fund with UAE-based Citadel International Holdings, while Beltone Venture Capital continues to retain a strategic stake in BirdNest, reinforcing its confidence in the company’s long-term growth potential. Strategic Stake Commenting on the milestone, Ali Mokhtar, CEO & Managing Partner of Beltone Venture Capital, said: “This outcome reflects the…
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. Piggyvest Named to CNBC’s World’s Top FinTech Companies List for Third Consecutive Year Nigerian fintech company Piggyvest has strengthened its global position after being named to CNBC’s World’s Top FinTech Companies 2026 list for the third consecutive year. The annual ranking, compiled by CNBC in partnership with Statista, evaluated more than 3,500 fintech companies using around 25,000 data points before selecting the world’s top 500 firms. Piggyvest also achieved a significant milestone by becoming the…
Egyptian tech startup Simplex, a specialist in assembling and manufacturing Computer Numerical Control (CNC) machinery, officially inaugurated its latest industrial expansion in 10th of Ramadan City. Spanning 40,000 square meters with an investment of $50 million, the inauguration was attended by high-level officials, diplomats, and prominent figures from the financial and business communities. The ceremony brought His Excellency Dr. Ahmed Kouchouk, Minister of Finance; and a lot of investors; alongside elite international partners, diplomats, and senior government representatives. They were received by the co-founders of Simplex, Eng. Ahmed Shaaban and Eng. Mohamed Mansour. Growth Journey Attendees toured the facility, showcasing…
banknbox, the region’s leading unified Banking-as-a-Service (BaaS) platform, and Flash, one of Egypt’s leading digital payments platforms, have signed a strategic cooperation agreement to introduce Egypt’s first Sound Box payment solution, marking a major milestone in the country’s digital payments landscape. Approval from the Central Bank The launch follows Flash’s approval from the Central Bank of Egypt to introduce the Sound Box solution to the Egyptian market, combining Flash’s payments platform, merchant ecosystem, and local market expertise with banknbox’s robust Banking-as-a-Service infrastructure to bring next-generation payment technology to merchants across Egypt. What Is a Sound Box? Sound Box is a…
Fincart, the Al-powered operating system for e-commerce. merchants, today announced the successful close of its oversubscribed seed funding round. This round was co-led by Launch Africa and Antler MENAP, with participation from Yango Ventures, Five35 Ventures, Bluestream Capital, Hi2 Global, Kalahari Venture Labs, and other leading MENA and Africa-focused investors. The seed round follows Fincart’s pre-seed funding round, led by Plus VC with participation from Orbit Ventures, Plug and Play, and other regional investors. E-commerce Merchants Fincart, which started as a platform connecting e-commerce merchants to last-mile shipping providers, optimizing delivery performance and improving merchants’ cash reconciliation cycles, has grown…
Qualiphi has announced a strategic partnership with Tick & Talk, a human capital development company and the creator of Speekr.ai, the first experiential learning platform in the Middle East and North Africa that leverages AI-powered simulations to develop and assess human skills. BUE The partnership agreement was signed during a ceremony held at the Alumni Lounge of the British University in Egypt (BUE), a venue chosen to reflect the founders’ shared connection as BUE alumni. The event was attended by senior executives from both companies, along with university alumni, highlighting the growing role of the university’s alumni network in fostering…
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. M-KOPA Kenya Mobility Secures $30 Million Debt Facility to Expand Electric Motorcycle Financing in Kenya M-KOPA Kenya Mobility, the mobility financing arm of African fintech group M-KOPA, has secured a $30 million senior debt facility from Dutch development bank FMO to accelerate the adoption of electric motorcycles in Kenya. The financing, structured in three tranches, will primarily support the company’s growing pay-as-you-go financing portfolio. Established in 2023, M-KOPA Kenya Mobility provides financing for electric motorcycles…
Uber today announced the launch of Meshwarha (Her Journey), a long-term initiative designed to support women’s economic participation in Egypt through learning, earning, and growth opportunities. As the first partnership under Meshwarha, Uber is collaborating with INJAZ Egypt to support women drivers on the Uber platform through a dedicated upskilling program that equips participants with practical skills to support their personal and professional development. Skills Development Programs Through partnerships, skills development programs, and community-focused initiatives, Meshwarha aims to help women unlock greater economic opportunity and achieve their personal and professional ambitions. The initiative builds on Uber’s continued commitment to Egypt…
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. South African Startup Cue Raises $5 Million to Expand Its AI Customer Service Platform South African customer-service technology startup Cue has secured $5 million in a funding round co-led by Knife Capital and FAM Investments to accelerate the development of its AI-powered platform and support its international expansion. The company plans to invest the new capital in enhancing its AI agents, introducing advanced voice capabilities, strengthening platform security, and expanding integrations for enterprise customers. These…
Mylerz Egypt, one of the country’s leading integrated e-commerce last-mile delivery and fulfillment companies, today announced that it has raised over EGP 100 million in new debt and equity funding from its existing shareholders. The proceeds will be deployed to bolster Mylerz Egypt’s continued growth across the Egyptian market. Fulfillment Infrastructure The new capital strengthens Mylerz Egypt’s balance sheet and working capital position, enabling the company to scale its fulfillment infrastructure, expand network capacity, and continue investing in the proprietary technology platform that underpins its same-day and next-day delivery proposition. It also reinforces Mylerz Egypt’s ability to serve the fast-growing…
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. Kenyan startups Fuzu and Kyosk Secure Funding from Jobtech Alliance to Expand AI Operations and B2B Commerce Kenyan startups Fuzu and Kyosk have secured investments from the Jobtech Alliance, a notable initiative committed to fostering inclusive job technology across Africa. The alliance, driven by Mercy Corps and BFA Global, aims to cultivate an ecosystem where entrepreneurs can develop platforms that promote quality livelihoods and provide users with opportunities for decent work. Fuzu and Kyosk are…
On behalf of H.E. Eng. Raafat Hindy, Minister of Communications and Information Technology, Eng. Ahmed Elzaher, CEO of the Information Technology Industry Development Agency (ITIDA), participated in the inauguration of the Coca-Cola HBC Digital Hub in Cairo. The event was held in the presence of H.E. Dr. Ahmed Kouchouk, Minister of Finance, H.E. Dr. Mohamed Farid, Minister of Investment and Foreign Trade, and Mr. Zoran Bogdanovic, CEO of Coca-Cola HBC, alongside senior executives of the company and government officials. The Coca-Cola HBC Digital Hub in Egypt is a global digital delivery center supporting the company’s operations across 27 markets in…
As part of the strategic partnerships being established by Qualiphi, the first digital platform for professional qualification and employment services management powered by AI technologies, the company has signed a Memorandum of Understanding with Odoo Middle East, a subsidiary of the global Odoo Group, a leading provider of open-source business management software, to launch the “Sales Ambassadors” training program aimed at bridging the gap between academic education and labor market requirements for university students in Egypt. Training The program aims to train 1,000 university students in Egypt during its first year through training courses lasting between six and nine weeks…
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. – Spiro Secures Additional USD 55 M, Taking Latest Round To USD 270 M African electric mobility company Spiro has secured an additional USD 55 M equity investment from Chinese investor NewTrails Capital, bringing its latest funding round to USD 270 M. Founded in 2022 by Gagan Gupta, Spiro operates one of Africa’s largest electric motorcycle and battery-swapping networks, serving markets including Nigeria, Kenya, Uganda, and Rwanda. The new investment follows a USD 215 M…
Cairo will host the official launch conference to kick off Egypt’s hosting the 3rd edition of The Global Entrepreneurship Festival (GEF) 2026 which is the biggest Global Entrepreneurship Festivals in Africa and Worldwide. It will bring together leading entrepreneurs, investors, economic policy makers and innovators From Africa, the Middle East and globally. The festival is under the auspices of H.E. Dr. Moustafa Madbouly, Prime Minister of Egypt, and will be held in partnership with the Micro, Small and Medium Enterprises Development Agency (MSMEDA). Regional Entrepreneurial Hub Egypt’s selection as the host for The Global Entrepreneurship Festival 2026 further establishes the…