Weekly Roundup: African tech news and startup deals
Here are the technology news, startup, and VC deals we tracked across the African region this week.
- Africa’s first women-led and women-focused private equity fund AlitheiaIDF has finally closed its $100 million fund with the European Investment Bank joining as the closing investor with $24.6 million, making it the largest gender-led private equity fund by value in Africa.
- Nigeria's Venture Platform Fund has announced the first close of its $40 million pan-African fund, which according to founder Kola Aina is "a sizeable amount," per TechCrunch.
- Kenya-based social media influencer network Wowzi has raised a $2 million seed round, led by 4DX Ventures, which comes after an unannounced $1.2 million pre-seed round, bringing its total funding to $3.2 million, as it expands to Ghana, Nigeria, and South Africa.
- German-based science and technology company Merck has announced a deal with Nigeria-based biotechnology company, Innovative Biotech to design the manufacturing process for the first vaccine production facility in Nigeria.
- MTN has announced the resignation of its South African CEO Godfrey Motsa, who is leaving the company at the end of this month after over five years, while Charles Molapisi, its current Group Chief Technology and Information Officer, will resume as CEO from January 1, 2022.
- Nigeria's telecoms regulator, NCC has awarded MTN Nigeria and Mafab Communications with the country's first 5G high-speed spectrum licenses at an auction held on Monday. MTN and Mafab will be awarded two 5G licenses in Nigeria after bidding in an auction set at $275.9 million at the 11th round, about $80 million above the reserve price.
- South Africa recorded R557.9B of FDI inflows in Q3 of 2021 compared to inflows of R17.4B in Q2, according to the latest data from the country's Central Bank, thanks to technology investor Prosus buying about 45% of its South African parent Naspers.
- Nigeria-based health tech startup 54gene has launched its diagnostic arm 7 River Labs to provide healthcare providers and patients access to world-class, cost-effective, speedy, reliable, and advanced molecular diagnostics across Nigeria, with an African expansion by 2022.
The Draft provides a weekly roundup of the most important tech news across key emerging markets in Africa, Asia, Eastern Europe, Latin America, and the Middle East. Follow the rest of our coverage @techloy on Twitter.
