Africa's Markets, Startups & Money Moves — Updated Daily

Founder Institute Opens Applications for Its Egypt Fall 2026 Cohort

Founder Institute is the world’s most proven network for turning ideas into fundable startups, and startups into global businesses. Since 2009, the structured accelerator program has helped entrepreneurs raise over US$2 billion in funding

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South African Startup Jem HR Secures $8.4 Million Series A Funding Round

South African startup Jem HR, a WhatsApp-based HR and employee benefits platform used by over 200 companies and 250,000 frontline workers, has raised a US$8.4 million Series A funding round to support its expansion

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OpenAI CFO Sarah Friar Tells Associates AI Lab Is Aiming to Be Public in 2027

OpenAI CFO Sarah Friar told employees during an all-hands meeting on Wednesday that the artificial intelligence lab “will be a public company in 2027,” but that it could make its public market debut sooner

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Cancer Vaccine from Merck and Moderna Shows Positive Initial Results

An experimental personalized cancer vaccine from Merck and Moderna showed positive initial results in its first-ever late-stage trial, the companies announced Wednesday

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Micromobility Startup Also Closes Fresh $150 Million Series D Round

Also has raised another $150 million as the micromobility startup that spun out of Rivian last year expands its business beyond pedal-assist electric bikes and commercial cargo quads to autonomous delivery vehicles

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Afriex Announces a New Sponsor and Settlement Banking Partnership With Global Innovations Bank

Afriex the cross-border payments infrastructure company processing more than $600 million in annual payment volume, today announced a new sponsor and settlement banking partnership with Global Innovations Bank (GIB).

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Navi Secures First Institutional Funding Round

Fintech unicorn Navi has raised $100 million from Prosus. This is the company’s first institutional funding round and the transaction is subject to customary closing conditions and regulatory approvals

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Cashify Gears Up for IPO

Cashify is taking concrete steps towards its proposed IPO, converting into a public company and appointing independent directors. The firm has also appointed IPO bankers and is expanding overseas

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2 Fully Funded PhD Positions in Malaysia

Universiti Malaysia Terengganu (UMT) is offering 2 PhD by Research positions under the REViVE Project, focusing on mangrove restoration, carbon storage, and sustainable ecosystem value chains.

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The World's Largest Humanoid Robot Maker Unitree Robotics is Set to List in Shanghai

Chinese robot maker Unitree Robotics (688836.SS) will make its stock market debut on Shanghai's STAR Market on August 19, according to a bourse filing Monday, becoming the first general-purpose robotics company to debut in mainland China.

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Groq Secures $350 Million as It Shifts From AI Chips to Neocloud Infrastructure

Startup Groq has raised $350 million as it continues to pivot from an AI chipmaker to a neocloud company that provides powerful GPUs and AI infrastructure services.

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Hardware Wallet Owners at Risk: Why Physical Crypto Wallets Are Becoming Prime Targets for Theft

Data breaches at two shipping companies has put cryptocurrency owners with physical hardware wallets at greater risk of having their funds stolen, highlighting weaknesses in the broader tech ecosystem relied on by the crypto industry.

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