Stephen Deng News Today

African investors are not immune to downturn dengue. But they do have to shed the herd instinct that brought the venture capital asset class to this moment.

Owing to its operational efficiency, Wasoko remains the most ubiquitous and most funded B2B e-commerce startup in Africa.

B2B companies in Africa, like Wabi, Zumi, and MarketForce, have all recently shut down or had layoffs in the last year.

DFS Lab has announced the launch of the DFS Lab Stellar Africa Fund I, which will back high-potential builders and teams in Africa aiming to transform the digital payments landscape and beyond by building on the Stellar network.  DFS Lab is an early-stage investor that focuses on Africa’s largest economic…

DFS Lab has announced the launch of the DFS Lab Stellar Africa Fund I, which will back high-potential builders and teams in Africa aiming to transform the digital payments landscape and beyond by building on the Stellar network.

B2B e-commerce startup Zumi is shutting down due to its inability to raise the funding necessary to sustain its operations. More in #TCDaily.

Nigeria has approved ₦‎2.8 billion ($5.4 million) for the procurement of the software that will be used for its first digital census. So far, Nigeria has budgeted ₦177.33 billion ($385 million) for the digital census project.

Every week, I’ll take a look at the hottest fintech news of the previous week. This will include everything from funding rounds to trends to an analysis of a particular space to hot takes on a particular company or phenomenon.

The collapse of Silicon Valley Bank (SVB) last week sent ripples in startup ecosystems around the world, and it is emerging that millions of dollars held by African startups and venture capital funds at the bank were at stake, until the U.S. Federal Reserve acted to save the day. In…

South African data-only network Rain is planning to spread its wings into offering mobile voice services, according to one of its investors.