Tag: Start ups

Konga the Nigerian Online Retailer To Become Africa’s Biggest Internet Company

Business, Internet, Mobile
Nigeria’s leading online retailer, Konga is set to become Africa’s biggest internet company assets an investment of about $60 million is set to be injected into the company. Reports Ventures Africa According to a source close to the retailer, Konga’s value will rise to about $190 million post the capital injection. But while the new investment speaks volume of investors’ confidence in Konga, founded by Sim Shagaya who also owns DealDey, and online shopping and daily deals,major rival in the online retail space in Nigeria, Jumia may not be having the best of times. Its mother company, Rocket Internet had its IPO held last week, but the company’s shares had already fallen 13 percent on the Frankfurt Stock Exchange. The fall regardless, Rocket’s IPO remains the largest German tech IP

Five African startups from Nigeria, Uganda and Kenya Get Grants From Microsoft 4Africa

Committed to helping Africa improve its global competitiveness, the software giant, Microsoft Corp. has said that five African startups from Nigeria, Uganda and Kenya will get innovation grants designed to provide the financial support needed to cross borders and empower the next generation of developers and entrepreneurs in Africa. Microsoft 4Africa initiative is expected place tens of millions of smart devices in the hands of African youth, bring 1 million African small and medium-sized enterprises online, upskill 100,000 members of Africa's workforce, and help an additional 100,000 recent graduates develop skills for employability, 75 percent of whom Microsoft will help place in jobs. Accordingly, the grant, Microsoft said is part of the company's 4Afrika Initiative, which was launc...