Hello Venturer,
I almost canāt believe weāre halfway through the first month. Itās almost like this isnāt the original January (if you know what I mean). And, believe it or not, weāve brought you stories about Africaās business and tech landscape for the second consecutive week. Time really does fly.
Speaking of time, have you heard about the block universe theory? If you havenāt, let me quickly explain. Itās the idea that the universe is a giant block of all the things that ever happen at any time and place. And from that view, time doesnāt just flow like a river from past to present and future. Instead, the past, present and future all exist ā and are equally real.
Why does this matter? Itās because that helps us realize that we shouldnāt let the past go to waste. While we live in the present, we need to remember the events that matter, as theyāll help us form a better future.
On that note, our journey required us to make another stop at Memory Lane for African tech, remembering the startups we lost, the top tech investors and the most innovative countries in 2022.
Join us. Letās travel through an evolving Africa together.
Oluwatosin Ogunjuyigbe,
Staff Writer, Ventures Africa
Whatās new?
African startups we lost in 2022
Like a see-saw ride, the African tech ecosystem was full of ups and downs in 2022. As African startups battled a global meltdown, local realities like inflation and currency devaluation weakened their stance. And so, many of them lost the fight. Hereās a list of startups the continent lost in 2022. Read more.
Top 10 investors in African startups in 2022
A digital tech boom is happening across Africa, and everyone can see it. Even though the global economy struggled in 2022, tech startups managed to raise record funding for another consecutive year. But itās also pertinent to know where this money came from. These were Africaās top 10 startup investors in 2022. Read more.
Top countries that led Africaās innovation in 2022
Ten years ago, very few African countries could boast of an active innovation space. Only a few had innovation policies, and an even lesser number had implementation plans for these policies. Today, the continent is experiencing more dynamism in the innovation sector, with players that continually accelerate innovation on the continent. Hereās a list of Africaās most innovative countries in 2022. Read more
My Pivot Journal: Stephanie Durugborās journey to becoming a product designer
On this week's episode of My Pivot Journal, Stephanie Durugbor shares her personal story of how the COVID pandemic affected her journey to becoming a tech expert. Despite the challenges she faced during this transition period, her persistence and determination helped her push through and achieve her goals. Durugbor takes us through her journey, providing insight and inspiration for those who may be treading a similar path. Read more
Will privatisation rescue Kenyaās national carrier?
The Pride of Africa, Kenya Airways, is up for sale.Ā Three months after becoming President, William Ruto made strategic moves to sell the government's controlling 48.9 per cent stake in Kenya Airways to private investors. Will this move rescue the ailing carrier? Read more.
Meet The Canemakers, the local craft brand bullish on Nigeriaās craft industry
In Nigeria, the cane plant is abundant in the riverine areas of the south-south, southeast, and southwest. The accessibility of the cane plant makes cane weaving a popular craft in many parts of the country. And some crafters, like the Canemakers, find it a sustainable venture. Read more
How SecondSTAX is promoting cross-border capital investments in AfricaĀ
The importance of the capital market in Africa cannot be overstated; it plays a crucial role in financing priority sectors in African countries and driving economic growth. However, the African capital market ecosystem faces diverse challenges, one of which is the existence of silos that make it difficult for investors outside of their home countries to access various African exchanges. Read more
Here is what IMF loan and currency devaluation is costing Egypt
Ā In December, the International Monetary Fund (IMF) Executive Board approved a 46-month $3 billion arrangement under the Extended Fund Facility (EFF) for Egypt. Raising a loan to cushion the economic shocks imposed by the Russian-Ukraine war on Egyptās economy is not a bad idea. However, devaluing the currency to get the loan puts the country in a fix. Read more
Weekly Economic Index: Starlink in Nigeria, Seychellesā tourism rebound and bigger layoffs at Amazon
Welcome to the first episode of Weekly Economic Index for 2023. Here's a roundup of the top business stories from Africa and the rest of the world. Read more
South Africaās post-pandemic recovery depends on stubbing out illicit cigarettes
Tobacco use in South Africa is increasing at an alarming rate, reflecting a broader trend on the continent. Worse still, Africaās growing illicit tobacco trade is proving to be a major part of the problem, pushing smoking rates up thanks to substantially lower prices. Read more
Releaf secures $3.3M to transform agricultural supply chains in Africa
Releaf, a technology company that makes it easier for consumer goods manufacturers in Africa to access high-quality ingredients for their factories, has raised $3.3 million in an oversubscribed Pre-Series A funding round. Read more.
Holiday Jollof
Read our special holiday issue on the events, businesses, people, and policies that impacted Africa in 2022. Click the image below to read.
Is AI coming for your job?
Artificial Intelligence (AI) is a rapidly growing field with the potential to transform many industries and improve people's lives. In Africa, there is a growing recognition of the importance of AI and its potential to drive economic and social development, and you shouldnāt be left out.
Join us on Wednesday, 25th of January, at 4 pm (WAT), @Ventures Africaās Twitter Space to discuss āHow AI is affecting modern life and business.ā Set a reminder here.
Our weekly collectibles
Starting a new book doesn't have to feel like a huge commitment. Here are 5 fantastic books you can read within a day.
A master thief and his crew attempt an epic heist worth $7 billion. Find out how betrayal, greed and other threats undermine their plans in Kaleidoscope.
How would the media handle its biggest change yet? Find out in Media and AI.