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Breaking: 54 Collective to cut jobs as Mastercard Foundation partnership ends
54 Collective, formerly Founders Factory Africa, will shut down its venture studio operations in Africa following the end of its partnership with the Mastercard Foundation on April 30, 2025. The decision, due to a lack of alternative funding, is expected to result in layoffs. Since the partnership began, 54 Collective has supported over 40 startups…
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South African regulator wants $27m yearly from Google, Meta, others for local news publishers
South Africa’s Competition Commission is pushing global tech giants like Google and Meta to compensate local news publishers for using their content. The regulator recommends that Google pay between R300 million ($16.3 million) and R500 million ($27 million) annually to media companies over the next three to five years. The move aims to address declining…
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African leaders should take the blame for brain drain on the continent — Paul Kagame
Rwandan President Paul Kagame has urged African leaders to take responsibility for the continent’s brain drain, emphasizing that systemic failures are driving skilled professionals abroad. Speaking at the Inclusive Fintech Forum in Kigali, he called for policies that encourage talent retention instead of blaming those seeking better opportunities elsewhere. The exodus of professionals, particularly in…
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MTN Fintech and Network International Join Forces to Expand Digital Payments
MTN Fintech has partnered with Network International to expand digital payments across Africa, beginning with card issuance in Rwanda, Uganda, Ivory Coast, and Nigeria. As a leading payment processor, Network International will support MTN Fintech with transaction processing, card management, and fraud prevention, enhancing access to digital financial services. This collaboration aims to strengthen financial…
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Digital Banking Revolution: Affinity Africa’s $8M Funding Transforms Financial Access
Affinity Africa has raised $8 million in seed funding to expand its digital banking platform and improve financial access across Africa. Led by Grazia Equity and BACKED VC, the funding round underscores strong investor confidence in Affinity’s mission to serve underbanked communities. Since launching in Ghana in October 2024, the platform has attracted over 50,000…
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EqualyzAI Launches AI Solutions for African Languages
EqualyzAI, an AI startup focused on African languages, has officially unveiled its suite of AI-powered solutions aimed at bridging the language gap in emerging markets. The company uses hyperlocal datasets created with native speakers to develop localized AI models, ensuring technology is accessible to underserved communities. The startup introduced three key innovations: uLearn, an AI-powered…