Since 2019, the startup has undertaken numerous financial operations to enhance its technology and accelerate growth. The company has announced the successful completion of a new funding round, elevating its status to that of a unicorn.
South African fintech startup Tyme has achieved unicorn status a designation for startups valued at over $1 billion following a valuation of $1.5 billion after successfully completing a $250 million funding round led by Brazilian neobank Nubank, it announced on Tuesday, December 17.
“Nubank transformed financial services in Brazil. We are excited by the value that Nubank's thought partnership and advice can bring to Tyme, particularly in areas such as data analytics, credit risk management, product development and marketing - levers we believe are key to achieving leadership in our markets,” said Coen Jonker, CEO and co-founder of Tyme Group.
Despite a slowdown in investments in African startups, Tyme has become the second startup to reach unicorn status this year, following Nigerian fintech Moniepoint. The company’s rise to unicorn status was driven by successive funding rounds since 2019, including $79 million in June 2019, $110 million in February 2021, $70 million in December 2021, and $78 million in May 2023.
Tyme is now the ninth African unicorn, joining fintech peers Interswitch, Flutterwave, Opay, Chipper Cash, Wave, MNT-Halan, Moniepoint, and edtech startup Andela. Notably, e-commerce platform Jumia, the continent’s first unicorn in 2016, and fintech Fawry lost their unicorn status after going public in 2019.
By Adoni Conrad Quenum,
Editing by Feriol Bewa
As part of its digital transformation efforts, the Kenyan government aims to improve the efficiency of public services by leveraging Information and Communications Technology (ICT). The government has announced plans to digitize 80% of its public services.
The Kenyan government plans to spend 28 billion shillings ($216.6 million) over the next two years to digitize police operations as part of a broader effort to modernize the National Police Service. President William Ruto unveiled the plan last week during the launch of the 2023-2027 strategic plans for the National Police Service and the State Department of Correctional Services.
“We need a modern police service and technology is key to this. We must ensure we digitise operations, including the famous OB (Occurrence Book),” said President Ruto.
He added, “In today’s rapidly evolving digital landscape and the ability to detect, disrupt, deter, and investigate these threats depends on our capacity to operate effectively in a high-tech environment. We are taking decisive action to ensure the NPS stays ahead of emerging threats.”
This initiative aligns with Kenya's broader Digital Economy Acceleration Program. Upon taking office in September 2022, Ruto emphasized his vision to harness digital technology for socio-economic development by 2027. In addition to strengthening telecom infrastructure and improving internet access, the government aims to digitize at least 80% of public services and make them accessible via a single platform, E-Citizen.
Currently, Kenya ranks 109th globally in the United Nations Department of Economic and Social Affairs’ 2024 E-Government Development Index, with a score of 0.6314 out of 1. While this places the country above the East African (0.3903) and African (0.4257) averages, it remains slightly below the global average of 0.6382. For the Online Service Index, Kenya achieved a score of 0.7770 out of 1.
Notably, Kenya’s digital economy is projected to contribute a significant 662 billion shillings to the country’s GDP by 2028, according to the Global System for Mobile Communications Association (GSMA).
By Isaac K. Kassouwi,
Editing by Sèna D. B. de Sodji
Sub-Saharan Africa is a region disproportionately affected by climate change. The initiative not only supports start-ups offering innovative solutions but also highlights the urgency of investing in sectors critical to Africa's sustainable future.
On December 16, Proparco announced a $5 million investment in the Equator Africa Fund through its FISEA+ facility. This climate-focused investment fund targets early-stage start-ups across sub-Saharan Africa that offer innovative solutions to address critical climate challenges.
“Through this investment, we aim to support ventures addressing the urgent climate challenges in sub-Saharan Africa,” said Fabrice Perez, head of Proparco’s Venture Capital Division. “Equator’s approach resonates with our mission to drive sustainable development and enhance climate resilience in the region.”
Equator Africa Fund specializes in climate technology ventures in energy, agriculture, and mobility—three sectors essential for Africa’s climate transition. With operations in Nairobi and Lagos, Equator combines local expertise with a global perspective to support start-ups that drive environmental and economic sustainability.
Africa receives only around 2 percent of total global climate finance, as highlighted in the UNDP’s 2024 Climate Finance in Africa report. To meet their Nationally Determined Contributions (NDCs), African countries require an estimated $2.8 trillion—or $277 billion annually—between 2020 and 2030, the report adds. Equator’s emphasis on supporting early-stage start-ups plays a pivotal role in bridging this gap, delivering essential funding at a stage where many ventures face significant barriers to accessing capital.
Proparco’s investment aligns with its 2023-2027 strategy to expand economic opportunities and champion climate initiatives. The funding qualifies for 40-60% climate co-benefits and underscores Proparco’s commitment to sustainable growth in Africa.
This investment strengthens Equator’s capacity to bridge the gap in climate financing and reinforces efforts to unlock Africa’s economic potential while addressing the pressing need for climate adaptation. The fund represents a vital step toward building a sustainable and resilient future for the continent.
Hikmatu Bilali
After several years of experience as a software engineer at both local and international companies, he now uses his technical expertise to provide innovative, tailored solutions for businesses and individuals.
Kenneth Kwesiga (photo) is a Ugandan computer scientist and tech entrepreneur, serving as the co-founder and Chief Executive Officer of ioTec Ltd, a company specializing in business-to-business financial technologies.
Founded in 2020, ioTec Ltd is a fintech company licensed and regulated by the Bank of Uganda. Its mission is to develop secure financial solutions that bring financial services closer to individuals and businesses through intuitive digital channels.
ioTec provides companies with a secure platform that simplifies the delivery of financial services. Its offerings include the ability to send and receive payments, rigorously verify customer identities, assess creditworthiness, and submit credit reports to rating agencies. By leveraging these solutions, businesses can maintain continuous engagement with their customers while ensuring efficient and transparent management.
In addition to his role at ioTec, Kenneth Kwesiga serves on the board and the technology and innovation committee of FITSPA Uganda—the Financial Technology Service Providers Association, which is the regulatory body for fintechs in Uganda.
Kenneth holds a bachelor’s degree in Computer Applications from the Sikkim Manipal Institute of Technology in India, which he earned in 2010. He also obtained a Master’s degree in Business Management and Administration in 2019 from Edinburgh Business School at Heriot-Watt University in Scotland.
Kenneth’s professional career began in 2009 as a software engineer at Data Care, a Ugandan consulting firm. In 2014, he joined Laboremus Group AS, a Norwegian fintech company, where he held various roles including software engineer, quality assurance engineer, technical project manager, and Chief Operations Officer. In 2018, he became Head of Business and Enterprise Solutions at Mcash Uganda, a fintech firm where he also served as Chief Operations Officer from 2020 to 2021.
By Melchior Koba,
Editing by Sèna D. B. de Sodji
Launched by five Zimbabwean tech entrepreneurs, the service streamlines bus ticket booking for users. The concept came to one of the founders while he was conducting business at a bus station.
Founded in 2017 by Vusumuzi Mkhwananzi, Josiah Mahachi, Millcent Mkhwananzi, Gift Chirinda, and Mandla Ncube, myRunner is a Zimbabwean tech startup with a mission to improve road transport services across Africa. Through its all-in-one web and mobile platforms, the company offers online ticket booking and real-time bus tracking. It also streamlines fleet management for transport companies.
"I grew up selling sweets and freezits in bus station [...] Everyday I saw challenges faced by passengers and bus operators ,passngers harrassed by touts , waiting long hours for buses and bus companies lossing a lot of revenue due to ineffective ticketing and bus managemet systems that where largely manual," explains Vusumuzi Mkhwananzi.
With myRunner, several processes are simplified. Registered travelers, for instance, can purchase tickets online from their chosen bus operator using various digital payment options. They can make selections based on their destination, travel date, and departure time, among other criteria.
Active in several African countries, including Botswana, South Africa, Zambia, Malawi, and Zimbabwe, the startup aims to revolutionize intercity transport in Africa by combining innovation and accessibility. It seeks to accelerate its growth by further developing its features to meet the growing demands of the market.
In July 2024, myRunner was selected alongside 41 other African startups to join the inaugural Timbuktoo Fintech Hub cohort. This initiative, launched by African nations in collaboration with the United Nations Development Programme (UNDP), aims to support the development of Africa’s tech ecosystem.
By Adoni Conrad Quenum,
Éditing by Feriol Bewa
To help companies find talent in African countries and their diasporas, and to assist job seekers in securing employment, Senegalese tech entrepreneur Kémo Touré has developed a tailored solution.
Wutiko is a web platform that helps Africans, including those in the diaspora, discover the best opportunities for jobs, funding, and events. It was developed by Kémo Touré’s agency, Wutiko Senegal SAS, which operates out of Dakar, as well as Lagos (Nigeria) and Ébène (Mauritius).
The digital solution uses artificial intelligence to match relevant profiles to specific search criteria. Users can apply for temporary opportunities or recruit job seekers. The platform also offers a range of services, including classified ad management, collaboration tools, and performance measurement solutions.
One notable feature is the Wutiko Wealth Index, which evaluates interactions within the platform's community. This initiative aims to address the needs of Africa’s job market while ensuring access to resources tailored to local and regional specificities.
“Wutiko is a platform designed to meet the needs of the job market in Senegal, Africa, and within the diaspora. Instead of carrying around a paper CV or reaching out to unverified companies, young people can enhance their visibility by creating a profile that will be seen by all companies on the platform. Likewise, businesses can recruit using well-structured, certified CVs,” explains Kémo Touré.
Adoni Conrad Quenum
After earning a degree in finance and gaining extensive experience with companies in Africa, Europe, and the United States, he now works as an entrepreneur specializing in logistics.
Nick Joshi (photo) is a Kenyan finance expert and tech entrepreneur, serving as the founder and CEO of Leta, an innovative startup focused on delivery management and optimization for businesses. Established in 2021, Leta creates smart logistics solutions that facilitate the automated and efficient transportation of goods throughout Africa. By leveraging artificial intelligence (AI), the company enhances delivery routes, reduces logistics costs, and improves overall operational efficiency.
Leta empowers businesses to digitize their logistics processes and supply chains. Its technology enables end customers to track deliveries in real time, fostering confidence and transparency. Since its launch, the company has facilitated over 2.5 million deliveries and operates a fleet of more than 5,000 vehicles. Currently, Leta is active in both Kenya and Nigeria.
Nick Joshi earned a bachelor’s degree in corporate finance and investment finance from the University of Western Australia. He began his professional career in 2006 as a consultant at Paradigma Solutions, an Australian firm specializing in professional development and coaching.
In 2009, he joined Western Australia's Department of Fire and Emergency Services as a program manager. By 2013, he had transitioned to the role of product director at MakerBot, a U.S.-based company recognized for its educational 3D printing ecosystem. In 2018, he assumed a similar position at Spring Inc., which is dedicated to providing an exceptional mobile shopping experience. From 2019 to 2021, Nick Joshi served as Vice President of Product for delivery.com, an online marketplace platform.
By Melchior Koba,
Editing by Sèna D. B. de Sodji
A trained IT professional, he leverages his technological expertise to support financial services companies in Ghana. He actively promotes and encourages innovation among young people in the fintech sector.
Samuel Tettey Amanor (photo) is a Ghanaian tech entrepreneur and an expert in information technology (IT) solutions for financial services. He is the founder and chief executive officer (CEO) of BlueSPACE Africa Technologies, a startup specializing in the digital transformation of Africa's financial sector.
Founded in 2014, BlueSPACE Africa Technologies helps financial institutions digitize their products, services, and core systems to unlock the African market’s full potential. The company also offers advanced services in big data, machine learning, and deep analytics, enabling organizations to identify opportunities, address operational gaps, and make more informed decisions. Its solutions include treasury management tools and cross-border payment systems for businesses, individuals, organizations, and governments.
In 2021, Amanor established the BlueSPACE Innovation Hub, a center dedicated to identifying and developing fintech startups across the African continent. He also serves as vice president for partnerships and funding at the Ghana Fintech and Payments Association.
Amanor holds a bachelor's degree in computer science from Wayne College in the United States. From 2008 to 2014, he worked at Dell, where he held roles including account technology consultant, account manager for West Africa, and country director for Ghana.
By Melchior Koba,
Editing by Sèna D. B. de Sodji
She earned her degree in finance in France and England. After gaining several years of experience in the field, she decided to pursue entrepreneurship, focusing on the logistics sector.
Zeinabou Sidibe(photo) is a finance expert and entrepreneur from Mali. She is the founder and CEO of Afrisends, a company focused on transportation and logistics with the mission of democratizing international shopping and deliveries.
Founded in 2021, Afrisends aims to make global e-commerce accessible to Africans while streamlining supply chains for businesses. Through its digital platform, the company enables individuals to easily access products from around the world and assists businesses in enhancing their competitiveness. Afrisends connects users to a network of over 200 international suppliers, primarily based in China, Turkey, Dubai, and Europe.
As a logistics provider, Afrisends manages the transportation of goods by air, sea, or road, as needed by clients. The company also facilitates customs clearance, offers freight insurance, and provides last-mile delivery services in cities such as Abidjan, Bamako, and Dakar. Its digital platform allows users to track their inventory and deliveries in real time.
Zeinabou Sidibe graduated from the Université Libre de Tunis in 2010 with a bachelor's degree in finance. She continued her education in France, earning a master's degree in International Financial Management from ESG Finance in 2012, followed by another master's degree in Audit, Management Control, and Information Systems from SKEMA Business School in 2014. In 2015, she completed her studies with a master's degree in Audit and Consulting from ESCP Business School in England.
Her career began in 2012 at Attijariwafa Bank in France, where she worked as a corporate banking assistant. She later joined Société Générale as a project management controller. In 2013, she was appointed financial controller at Veolia Environnement, a company specializing in ecological transformation. In 2015, she became an auditor at Deloitte France. From 2018 to 2024, she served as a financial controller at PPG Industries, a multinational corporation known for its paints and coatings.
By Melchior Koba,
Editing by Sèna D. B. de Sodji
Africa’s focus on digital infrastructure development is crucial for fostering economic growth, bridging the digital divide, and positioning the continent to compete globally. Investments in these technologies are pivotal as they address long-standing challenges while unlocking new opportunities in various sectors.
Zimbabwe has made significant progress in developing its digital infrastructure through strategic investments in information and communications technologies (ICT), according to Minister of ICT, Postal, and Courier Services, Tatenda Mavetera. Speaking at the Zimbabwe Artificial Intelligence (AI) and Innovation Week held from December 9-13, Mavetera emphasized the country’s achievements in mobile connectivity and emerging technologies.
The event, organized in collaboration with the Government of Zimbabwe, the University of Zimbabwe, and the United Nations Development Programme (UNDP), showcased the nation’s commitment to digital transformation.
Mavetera highlighted Zimbabwe’s mobile penetration rate, which has surpassed 96 percent, and its internet penetration of 78.55 percent as evidence of the impact of prioritizing digital infrastructure. She described artificial intelligence as a game changer with the potential to drive innovation, enhance efficiency, and unlock economic opportunities.
The minister stressed that robust digital infrastructure is critical for supporting emerging technologies, fostering creativity, and enabling entrepreneurship. She noted that improved infrastructure has already facilitated significant developments, such as the introduction of e-learning platforms during the COVID-19 pandemic, which allowed schools to continue operating remotely. Other advancements include the increasing use of ride-hailing services, mobile money platforms, and telehealth initiatives, all of which are improving access to essential services.
Mavetera also underscored Zimbabwe’s adoption of smart agriculture, which provides real-time weather updates to enhance farming productivity and profitability. Additionally, the government has introduced e-government portals, e-procurement systems, and an electronic case management platform under the Ministry of Justice to streamline operations and enhance efficiency.
The World Bank's Digital Economy for Zimbabwe Country Diagnostic Report 2021 further underscores the nation’s progress. It notes that 96 percent of transactions in Zimbabwe are conducted through digital payment systems and that the country’s digital infrastructure is well-developed and expanding. However, the report emphasizes that addressing regulatory bottlenecks is crucial to sustaining this growth and meeting the increasing demand for digital services.
Zimbabwe’s push for digital transformation is aligned with its National Vision 2030, which aims to elevate the nation to an upper-middle-income society by 2030. This initiative underscores the government’s commitment to leveraging digital advancements to bridge the digital divide and unlock the full potential of a digital economy.
Hikmatu Bilali
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To help people select the insurance policies that best suit their needs, Egyptian tech entrepreneurs have developed a comparison platform.
Amanleek is an online platform for comparing insurance offers, particularly in the automotive and health sectors. This digital solution was developed by an Egyptian startup based in Cairo, founded in 2019 by Ahmad Baracat, Ihab El Sokary, Mohab Aboueita, and Mohamed Mansour.
The startup collaborates with 18 insurance companies operating in Egypt. Its algorithm compares available offers to identify the best options. It has also integrated data and AI-driven insurance solutions to optimize its services according to users' needs. By digitizing the process of purchasing insurance policies and enabling the submission of required documents online, Amanleek has reduced the time needed from several weeks to just a few minutes.
Amanleek has established strategic partnerships with various companies, including players in telecommunications, Buy Now, Pay Later (BNPL) services, and payment networks, to facilitate financial transactions on its platform. Operating in over 20 governorates across Egypt, the platform claims more than 300 corporate clients. In July 2024, Amanleek was selected for the inaugural cohort of the Timbuktoo Fintech Hub.
The platform offers a mobile app available on iOS and Android. Users can create an account by entering their personal information and then providing the necessary details to allow the algorithm to suggest the best offers tailored to their needs.
Adoni Conrad Quenum
The seventh edition of the Africa Tech Summit Nairobi, powered by Nigerian fintech Raenest, will take place on February 12-13, 2025, at the Sarit Expo Centre.
It will feature a B2B summit, exhibition, and awards ceremony, focusing on four key tracks: Africa Money & DeFi Summit; Africa Climate Tech & Investment Summit; Africa Startup Summit; and Africa Mobile & App Summit.
The event will bring together over industry leaders, corporates, investors, and international delegations to explore Africa’s tech landscape.
Veeam Software and ITWeb will co-host a free webinar on Data Resilience for Africa on February 5, 2025, focusing on innovative solutions for secure and reliable data management.
The webinar will cover the new Veeam Data Cloud Vault v2, its Zero Trust Data Resilience approach, secure off-site cloud storage, and predictable cloud storage costs. It is aimed at CIOs, IT managers, backup administrators, SMB system administrators, and network administrators.
The event will showcase how Veeam’s tools enhance data backup, recovery, security, and availability across cloud, virtual, physical, SaaS, and Kubernetes environments.
Digital transformation has become a key driver for accelerating economic development. By leveraging strategic partnerships, countries aim to modernize their infrastructure and create an inclusive and sustainable digital ecosystem.
Guinea's Minister of Posts, Telecommunications, and Digital Economy, Rose Pola Pricemou (photo, left), met with a delegation from the Islamic Development Bank (IsDB) on Thursday, December 12. The meeting aimed to explore new funding opportunities in key digital sectors, including education, e-agriculture, digital health, financial inclusion through postal networks, and the "Giga" program.
“The minister emphasized the 'Simandou 2040' vision, championed by the Head of State, which places digital technology at the heart of sustainable development and digital infrastructure, contributing to economic integration, resource management transparency, and Guinea’s global market competitiveness,” the ministry noted in a statement.
This meeting aligns with Guinea's ambitions for digital transformation, which focus on modernizing public services, strengthening infrastructure, and fostering an inclusive digital ecosystem. The Simandou 2040 program shares these goals, aiming to rally the nation—especially its youth—towards creating a prosperous and equitable Guinea by 2040.
However, significant challenges remain in digitizing public services. According to the United Nations' "E-Government Survey 2024: Accelerating Digital Transformation for Sustainable Development," Guinea scores 0.4006 out of 1 in the E-Government Development Index (EGDI), ranking 29th in Africa and 160th globally. This is below the African (0.4247) and global (0.6382) averages.
The IsDB could play a pivotal role in advancing Guinea’s digital transformation by mobilizing financial resources and providing technical expertise. Its support could target initiatives in e-agriculture, digital education, connected healthcare, financial inclusion, and the development of robust digital infrastructure—helping drive sustainable and inclusive transformation across the country.
By Samira Njoya,
Editing by Sèna D. B. de Sodji