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African Tech Companies Raised $1.25bn Funding in 2019 + other developing tech stories across Africa

African Tech Companies Raised $1.25bn Funding in 2019

African Tech Companies successfully secured a $1.25bn funding across 167 disclosed deals, according to a report from a study by London-based research firm, Briter Bridges. 

The investment summary published earlier this month states that at least 98 of the 167 deals were worth $1 million or more in 2019 and, that African companies closed 69 funding deals worth between $50,000 and $999,999. 

Jumia Ghana Appoints First CEO

The Jumia Group has appointed Diana Owusu-Kyereko as the new Chief Executive Officer for it’s Ghana office. It is reported that the move aims to promote gender equality in the workplace. 

Diana was the chief commercial officer for Jumia Kenya.

Future Africa Fund launches Angel Fund For African Startups

Iyinoluwa Aboyeji, Managing Partner, Street Capital, Nigeria speaking during the session Africa’s Innovators of the Year at the World Forum World Economic Forum on Africa 2019. Copyright by World Economic Forum / Greg Beadle

Future Africa is investing $50,000 into 20 startups each year to assist them scale and serve Africa’s surging enterprise and consumer markets. 

Co-founded by Iyinoluwa Aboyeji, Nadayar Enegesi, Olabinjo Adeniran and Adenike Sheriff, Future Africa Fund established as an online community with Africa’s future in view. But the founders thought of expanding their idea to accommodate local funding instead of waiting on the Chinese venture capital.



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