Author: Elan

Listen to this article Tokyo is redefining its engagement with Africa, transitioning from traditional aid-based approaches to strategic venture capital (VC) investments focused on long-term partnerships, innovation and capacity building. Several Japanese private companies are making Japan’s presence felt in Africa’s VC landscape, particularly in high-growth sectors such as fintech, climate tech and mobility. Growing demand for innovative, technology-driven solutions in Africa has drawn increasing interest from international investors. VC funding in Africa rose from over US$2 billion in 2019 to a peak of US$5.2 billion in 2022. Though investment declined to around US$3.6 billion in 2023, the continent’s start-up…

Nigeria’s food-tech startup ecosystem is facing another reality check after FoodCourt suspended operations. The company, which operates a technology-enabled cloud kitchen model that prepares meals from centralised kitchens for delivery, halted operations after months of financial strain marked by unpaid salaries, outstanding vendor obligations and disruptions to its business. This highlights the mounting financial and operational pressures confronting venture-backed startups as funding remains tight and operating costs continue to rise. According to TechCabal, the company’s challenges became public in March when employees reportedly embarked on a strike over unpaid wages, affecting service delivery. By April, FoodCourt had shut its remaining…

US aid-for-data deals meet African resistance – African Business US aid-for-data deals meet African resistance – African Business

In brief Researchers got frontier AI models to generate cocaine synthesis instructions using a new prompt injection attack. The same technique manipulated an AI coding agent into uploading sensitive credentials. The study argues prompt injection stems from “role confusion,” not simply models failing to recognize malicious prompts. Forget clever prompts: AI researchers say they tricked leading AI models into generating cocaine synthesis instructions by convincing them the dangerous ideas were their own, while also manipulating an AI coding agent into leaking sensitive credentials.In the paper “Prompt Injection as Role Confusion,” presented at the International Conference on Machine Learning in June,…

Catalyst Fund, a pan-African venture fund investing in startups building climate adaptation and resilience solutions, has announced the completion of its second close, bringing total commitments to $30 million as it advances toward a $40 million target. Led by partners Maelis Carraro, Maxime Bayen, Olúwatóyìn Emmanuel-Olubake, and Amolo Ng’weno, Catalyst Fund noted that it expects to increase its portfolio to about 40 startups across Africa with its fund. The second close comes as investment in the African climate technology sector recovers after a 2024 slump. Climate tech funding fell to $754 million that year, according to TechCabal Insights’ funding tracker,…

I have a simple test for navigation apps now: what happens when my phone stops pretending mobile data is a human right? A lot of maps are brilliant until the signal drops, the road gets weird, or I’m trying to conserve data because data roaming is still something travelers have to think about, usually while pretending not to cry at the bill. That frustration is what led me to Organic Maps, an app that turned out to be refreshing precisely because it does something unglamorous extremely well. Download the map ahead of time, open it later, and it just works,…

By Cliff Bakashaba, Head of Investments at Jubilee Asset Management Limited The recent ceasefire framework in the Middle East has given markets something they badly wanted, a reason to breathe. Oil prices have eased from their highs. Investors have responded positively. And after months of conflict involving Iran, Israel and the United States, it is understandable that many would like to believe the worst is behind us. But for investors, especially those responsible for long term savings and policyholder funds, relief is not the same thing as safety. The real effects of a conflict like this do not end when…

Wale Adeosun, CEO of Kuramo Capital Management (left), and Olasupo Olusi, MD/CEO of the Bank of Industry, during the contract signing of DICE Fund of Funds.** For the best experience, download the free Africa Private Equity News app Android | iOS **Nigeria’s Bank of Industry (BOI), the implementing agency for the Investment in Digital and Creative Enterprises (iDICE) programme of the Federal Government, has appointed Kuramo Capital Management as fund manager of the DICE Fund of Funds.The DICE Fund of Funds is structured to achieve a minimum total capitalisation of $170.6 million, with the Federal Government contributing an anchor commitment…

Dr Anino Emuwa PARTNER CONTENT: Africa’s Business Heroes By Dr Anino Emuwa Over the past six years as a judge for Africa’s Business Heroes (ABH), I have witnessed first-hand one of the most important shifts taking place across the continent: the evolution of African entrepreneurship itself. The change is not simply in the number of founders emerging across Africa, although that has grown significantly. What is striking is the shift in mindset, ambition, and execution. Today’s entrepreneurs are building differently. They are solving deeply rooted challenges with greater sophistication, thinking about scale earlier, and increasingly creating businesses with both local…

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