TechStream

Technology news around the ecosystem!

From Lagos to Nairobi

We give you summaries of happenings around tech, from developer stand-ups to the boardrooms.

  • MAX laid off 150 employees in January amid EV push

    Metro Africa Xpress (MAX), a Nigerian mobility financing startup, laid off 150 employees, or 30% of its workforce, in January. This decision was part of the company’s shift to focus solely on financing electric vehicles (EVs) as it aims to fund 120,000 EVs across Nigeria, Ghana, and Cameroon. Previously, MAX financed both EVs and internal…

  • Young Girls Urged To Embrace STEM

    Huawei Kenya, through its Women-In-Tech Initiative, hosted the UniTech Talk in celebration of the International Day for Women and Girls in Science (IDWGIS). The event brought together young girls, women, industry experts, and policymakers to encourage female participation in Science, Technology, Engineering, and Mathematics (STEM). It focused on mentorship, knowledge-sharing, and relationship building to promote…

  • 50% slash: Bolt bows to drivers’ pressure, increases fares following backlash

    Bolt has reversed its recent fare reduction after facing strong backlash from drivers. Initially, the ride-hailing company slashed fares by up to 50%, claiming the move was aimed at increasing demand on the app. However, drivers protested, arguing that the lower fares made it difficult for them to earn a living. Following the backlash, Bolt…

  • Madica invests $800,000 in four startups, expands footprint into North Africa

    Madica, an Africa-focused early-stage investment firm, has invested $800,000 in four startups as part of its efforts to support high-growth businesses. This move aligns with a broader trend of investors prioritizing startups with strong revenue potential, following a 9% share of total venture funding going to early-stage African startups in 2024. The four startups receiving…

  • Meta’s ‘performance terminations’ affected Nigerian employees

    Meta has laid off 3,600 employees worldwide, with staff in Nigeria and other African offices impacted as part of its performance-based job cuts. Employees in Germany, France, Italy, and the Netherlands were exempt, while affected workers in Africa, Asia, and other parts of Europe will receive termination notices between February 11 and 18, 2025. A…

  • Resilience17 Introduces Go Time AI, Empowering Emerging African AI Talent

    Flutterwave CEO Olugbenga Agboola has introduced Go Time AI, an accelerator program under Resilience17, to provide funding and mentorship for emerging African AI startups. The initiative offers up to $200,000 in funding and access to essential cloud computing tools, API services, and structured mentorship. The program’s first cohort, launched in early 2024, includes five AI-driven…