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World Bank launches program, XL Africa, to support Africa’s top tech entrepreneurs. Credit: infodev.org

World Bank launches program, XL Africa, to support Africa's top tech entrepreneurs

With support from prominent African investment groups, XL Africa will help 20 selected startups attract early stage capital of between $250,000 and $1.5 million.

David White, Chairman, Emerging Africa Infrastructure Fund (EAIF)

Emerging Africa Infrastructure Fund appoints Investec Asset Management to manage $670M fund

Following a competitive tender process that brought interest from over 30 companies, from across Europe, Africa and North America, the Emerging Africa Infrastructure Fund Limited (EAIF or the Fund) has appointed Investec Asset Management (IAM) as its fund manager.

Nollywood money is big money (Reuters/Akintunde Akinleye)

Nigeria's 'Netflix of Africa' iROKOtv made a 3,000% return for investors

As Nigeria’s tech space has matured over the last few years, it has drawn the attention—and money—of curious investors.

Olatorera Oniru, CEO, Dress Me Outlet

Meet the Nigerian woman who is building the fashion Amazon of Africa

Olatorera Oniru is one of Nigeria’s most assiduous and ambitious young entrepreneurs. The 29 year-old lady is the founder of Dressmeoutlet.com, a Lagos-based e-commerce startup that retails fashion products sourced from across the globe.

AIG is the company behind Africa's largest e-commerce company Jumia

Goldman Sachs & MTN to invest $245M in Nigerian e-commerce firm Africa Internet Group (AIG)

Africa Internet Group (AIG) has secured €225 million ($245 million) in funding from investors including US bank Goldman Sachs, South African telecoms giant MTN and German startup incubator Rocket Internet.

Mobile in Africa: Still room to grow (Reuters/Mohamed Nureldin Abdallah)

Why this industry leader believes mobile in Africa has not yet reached its potential

Africa is a mobile-first continent. With almost 70% penetration and the innovations around mobile money, the continent is redefining what one can do with a cell phone.

Vodacom has 64 million subscribers and runs mobile networks in South Africa, Tanzania, the Democratic Republic of Congo, Mozambique and Lesotho. Photographer: Dean Hutton/Bloomberg

Naspers in talks With Vodacom to deliver video-on-demand services across Africa

Naspers Ltd. is in talks with wireless carrier Vodacom Group Ltd. about delivering video content to mobile devices across Africa as the media company seeks to compete with Netflix Inc. in offering movies and TV in the continent of 1 billion people.

The Co-Creation Hub Nigeria (CcHUBNigeria) in Yaba, Lagos, Nigeria. Credit: techpoint.ng

Yabacon Valley: Nigeria tech startup enclave springs up in Lagos suburb

At first glance, Yaba is like many other parts of Nigeria’s sprawling commercial capital: a cacophony of car horns and shouting street vendors mingling with exhaust fumes.

The Abraaj Group

Abraaj sells stake in Kenyan insurance company UAP Holdings to Old Mutual

Abraaj has exited the East African insurance company UAP Holdings through the sale of its 13.6 per cent stake, the Dubai-based private equity firm said today.

Director Kunle Afolayan on the set of his new movie, which will be distributed on Netflix. Photograph by Kunle Afolayan

Meet Nigeria's Nollywood, the world's second largest movie industry

Last year, data was released showing that Nollywood is a $3 billion industry. It is bigger than Hollywood by volume, and right behind India’s Bollywood.

Nigeria star Asisat Oshoala awarded BBC’s 2015 Women's Footballer of the Year.

Nigeria star Asisat Oshoala awarded BBC's 2015 Women's Footballer of the Year

Nigeria and Liverpool Ladies striker Asisat Oshoala has won the BBC Women’s Footballer of the Year award after a vote by fans around the world, the broadcaster announced on Tuesday.

Vigil in Nairobi, Kenya. Each cross stands for a victim. (AP Photo/Ben Curtis)

The world is remembering - and forgetting - the attack in Kenya that killed 148 students

After the initial breaking news frenzy of the brutal Islamist attack that killed 148 students in Kenya, the coverage of the massacre in western media waned, as it often does when tragedy hits far from home.

January Makamba, Tanzania's Deputy Minister of Communication, Science and Technology

All telcos operating in Tanzania to list on Dar es Salaam Stock Exchange by year-end: January Makamba, Tanzania's Deputy Minister of Communication, Science and Technology

All telecom companies operating in Tanzania will be listed on the local stock exchange by the end of the year, the country’s deputy communication, science and technology minister said on Wednesday, days after a deadline for them to do so had passed.

Addis Ababa, Ethiopia

Ethiopia launches 4G mobile service in Addis Ababa

Ethiopia’s state-run telecoms monopoly has launched a fourth generation (4G) mobile service in the capital Addis Ababa, aiming to catch up with the high-speed communications available in some east African neighbours such as Kenya and Uganda.

Dealdey raises $5M in series B funding from Swedish investment company Kinnevik. Credit: techcabal.com

DealDey raises $5M in series B funding from Swedish investment company Kinnevik

DealDey, a Nigerian ecommerce website that aggregates discounted goods and services, has raised $5 million in follow-on funding. DealDey’s second round of funding comes from its original investor, Kinnevik.

Stéphane Richard, Chairman & CEO, Orange

Orange said to explore purchase of some Bharti Africa assets to tap explosive growth in sub-Saharan Africa

Orange SA has explored various acquisitions in Africa including assets owned by Bharti Airtel Ltd., as the French company seeks to bolster its business in the region, according to people familiar with the matter.

Workers assemble shirts in a garment factory in Hong Kong, China.

Asia garment industry faces Africa as emerging competitor

It was a turbulent year 2014 for Asia’s textile industry: Soaring labour wages in China, violent workers’ protests in Cambodia and collapsing factories in Bangladesh were just some of the bad news that made it into headlines.

Konga is Nigeria's largest online mall

Online retailers pushing for e-commerce growth in West Africa

As Internet usage surges, an increasing number of online retailers in West Africa are springing up, giving mobile phone users a variety of options to buy and sell new and used items.

Shoe manufacturing in Ethiopia

Made in Africa: Ethiopia positions itself as manufacturing alternative to China

Ethiopia is bidding to become Africa’s lead manufacturing hub, repositioning itself as an outsourcing alternative to countries such as China, where rising labour costs are driving margin conscious multinationals to look elsewhere.

Ed Winter, CEO, FastJet

FastJet in talks to add 10 Airbus A319s by end of 2015: Ed Winter, CEO, FastJet

FastJet Plc (FJET) said it’s in talks about adding more Airbus Group NV (AIR) short-haul jets to the fleet as the discount carrier seeks to open bases in Zambia, Zimbabwe and Kenya next year while expanding operations in Tanzania.

Barclays

Barclays' Exposure To Africa Is A Catalyst For Growth

With the upcoming Scottish vote on independence (scheduled for September 18, 2014), and the no-campaign losing ground, it is fair to expect turbulence in the British stock market in the next 10 days (or more, if the vote results in a victory for the yes).

Konga Mall

Africa's tech start-ups of the future

Silicon Africa is gaining attention, investment, and momentum.

A staff member of on-line retailer Jumia, pushes a cart past shelves at the company's warehouse in Lagos April 10, 2014

Online retailer Jumia expanding into new markets: Uganda, Ghana and Cameroon

Online retailer Jumia, a would-be African Amazon set up by German venture capital firm Rocket Internet, is expanding into three new markets – Uganda, Ghana and Cameroon, the company said on Monday.

Sev Vettivetpillai, Partner, Abraaj Group

Africa the big prize for Abraaj private equity group

After a deal-making spree in Africa in 2013 that included investments in Ghana, Cote d’Ivoire and Kenya, private equity group Abraaj is on track for an equally active 2014.

Spotify

Spotify in Talks With Vodacom Over Music Deal in Africa

Spotify Ltd. is in talks with Vodacom Group Ltd. (VOD) on a partnership that would mark the music-streaming service’s first foray into the African continent, according to two people familiar with the matter.