Connect with us

E-Business

Innovate Africa Launches with $2.5M Angel Fund for Early-Stage Africa-Focused Startups

Published

on

Kindly share this post

Innovate Africa, an angel investment fund that supports early-stage founders in funding life-changing ideas, taking startups from conception to product and financing innovative ventures, has launched with an initial $2.5 million rollout.

Co-founded by Kristin Wilson and Christian Idiodi, the sector-agnostic fund aims to support up to 20 startups in its first year to solve complex, recognised problems such as insecurity, unemployment, and poverty with purpose-driven technology.

Since 2019, the African funding landscape has witnessed positive growth, with disclosed exits surpassing $2.3 billion – representing a significant 13.4% of the total $17.2 billion raised by African startups. Despite this growth, early-stage founders face challenges navigating the path from ideation to market fit.

The persistent lack of early-stage funding further compounds these difficulties, hindering many startups from reaching their full potential and contributing to the continent’s economic growth.

With a mission to empower startups to thrive in Africa’s ever-evolving tech landscape, Innovate Africa Fund will provide insight-driven capital that helps founders accelerate the journey from Minimum Viable Product (MVP) to Product-Market Fit (PMF).

The goal is to facilitate the infrastructure that enables founders to unlock growth through audacious problem-solving, supported by access to a comprehensive ecosystem of resources.

With an average investment of $50,000, the venture fund offers a comprehensive support package designed to propel promising startups towards success.

The robust suite of critical advisory resources includes expert guidance in finance, governance, public relations, and strategy, ensuring a solid foundation for growth. Through its Product Leadership Accelerator, the fund delivers crucial product development support, helping startups refine their offerings and achieve product-market fit.

It also facilitates talent resourcing via an extensive partner network, connecting startups with skilled professionals across various domains. The fund’s portfolio strategy encompasses first cheque funding, a refined product operating model, valuable network and partnerships, assistance with revenue model iterations, and comprehensive operations and governance advisory.

This holistic approach aims to accelerate startups’ path to success, providing them with the tools, resources, and connections needed to navigate early-stage challenges and achieve sustainable growth.

Innovate Africa Fund is anchored by a network of experienced operators and product specialists across Africa, providing a vigorous foundation of knowledge and experience to guide early-stage founders towards success.

Managing Partner, Kristin is also the Chief Strategy Officer at Spurt!, a Venture Partner at Oui Capital, an Investment Lead for the Rising Tide Africa Angel Network and a General Partner at the Bold Angel Fund.

She has a portfolio of 34 African startups including 26 tech startups such as Hoaq, Clafiya, Shuttlers and OmniRetail–recognised as 2024’s Africa’s Fastest Growing Company by the Financial Times. Kristin’s portfolio companies have generated over $100m in revenue and collectively serve over 100,000 users.

Complimenting Kristin’s expertise is Christian, Founder of Firtsi and Work Nigeria. A world-renowned product expert, Christian is a partner at the Silicon Valley Product Group (SVPG), and helps companies transform the way they work to create products customers love and brings immense value to the business.

He is co-author of INSPIRED, EMPOWERED, LOVED and TRANSFORMED–New York Times Best-Selling books that have shaped product management globally. He has shaped companies like Amazon and Merrill Corporation, and tackled complex product challenges for industry giants like Microsoft, Interswitch, and Squarespace.

His extensive background in enterprise and consumer products has helped scale businesses from the ground up. His track record includes successfully founding over two dozen companies worldwide.

Speaking about the launch of the Fund, Kristin Wilson, Managing Partner of Innovate Africa Fund said: “Having witnessed the struggles that early-stage African founders face up close, we know that brilliant ideas often lack the resources they need to truly thrive.

“It’s not just about funding, it’s about deep expertise and strong connections–and our investment strategy breaks the cycle of innovators being at the mercy of those with too much leverage and too little knowledge.

“As a founder-first catalyst fund, we provide insight-driven capital to help founders accelerate their journey from MVP to PMF. By providing this support and funding, innovators can focus their efforts on building sustainable, transformative businesses that solve wicked problems and return value to investors”

“Through the Innovate ecosystem, we connect our portfolio companies with seasoned operators and advisors, both in Africa and globally, to ensure they get the expertise they need,” says Christian Idiodi, Founder of Innovate Africa Foundation. “The African diaspora has sent over $150 billion back to the continent in the past three years, but financial support alone isn’t enough.

“Many are eager to contribute their talent and expertise to impactful ventures, and that’s where we come in. It takes an ecosystem to build a startup. By reaching founders at a very early stage, we can connect them to key partners and help foster their success. Ultimately, our decisions today will shape who builds, owns, and benefits from the next wave of disruptive technology in emerging markets.”


Kindly share this post

Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

Continue Reading
Advertisement
Comments

E-Business

Why JustMarkets Is a Strong Choice for Gold Trading

Published

on

Kindly share this post

Over the past four years, gold has risen by more than 400%. The precious metal has long been one of the most traded assets in global financial markets. From its role as a traditional store of value to its sensitivity to inflation, interest rates, and geopolitical uncertainty, gold continues to attract traders seeking efficient and predictable trading opportunities during a period of global uncertainty and high volatility.

Why JustMarkets Is a Strong Choice for Gold Trading

JustMarkets

For traders looking to effectively access gold markets, choosing the right trading environment is as important as timing their entry. One of the most popular and effective gold trading platforms is JustMarkets, offering the tools, conditions, and infrastructure to enable traders to achieve their most ambitious gold trading goals.

Tight Spreads on XAU/USD

Cost efficiency is a critical factor in gold trading, especially for active day traders. JustMarkets offers extremely competitive XAU/USD spreads, allowing traders to open and close positions with reduced transaction costs. Lower spreads can significantly impact short-term strategies, where precision and timing are key to effectively entering a trade. By minimizing trading costs, JustMarkets helps traders focus more on market analysis and finding the ideal entry point, and less on overhead.

Fast and Reliable Execution

Gold is recognized for its volatility, especially during the day, especially with economic announcements or geopolitical events. Speed is of the essence in volatile markets. JustMarkets provides high-speed execution of orders, which helps minimize the risks of delays, especially during periods of high volatility. This ensures that traders are able to respond better to market conditions, thereby having better control over trade management.

Flexible Trading Conditions

Each trader has their own approach to gold, ranging from intraday trading to position trading. JustMarkets offers flexible leverage and account types, enabling traders to adjust their exposure based on their risk tolerance and trading style. This flexibility is suitable for both conservative and aggressive traders while still allowing them to access the same global gold market.

Advanced Platforms and Tools

Successful gold trading is based on thorough technical and fundamental analysis. JustMarkets provides access to industry-standard trading platforms equipped with advanced charting tools, multiple timeframes, and a wide range of indicators for recognizing divergences and clear entry points. These features help traders analyze price trends, identify key levels, and plan their trades with greater confidence.

Accessibility via mobile devices and computers via the JustMarkets Mobile Trading app also ensures traders can monitor positions and market movements from anywhere and at any time.

Education and Market Support

Gold is also affected by factors such as inflation rates, central bank policies, and currency fluctuations. Understanding these factors is important for developing a structured trading strategy.

JustMarkets offers resources for traders, which provide information on how global events can impact the price of gold like case studies, daily, bank and weekly analysis. This is a knowledge-based system, which enables the trader to make more informed decisions rather than relying on the price movements of gold.

Trading Activities That Keep Gold Traders Engaged

In addition to the competitive trading environment, JustMarkets also runs various special activities and campaigns that aim to make the trading experience more interesting. At certain intervals, the special activities may include trading contests on specific trading instruments, such as gold, which are highly sought after by traders. This will give the traders an added impetus to keep trading.

The special activities are designed to encourage trading, consistency, and skill-building among the traders, along with the additional motivation for the trading strategies. This is also in line with the overall philosophy of JustMarkets to create a dynamic trading environment where trading, learning, and motivation are linked together.

A Trading Environment Built for Gold Traders

Gold is still one of the most dynamic markets with the greatest number of opportunities in the world. With tight spreads on XAU/USD, fast execution, flexible trading terms, and access to advanced analytical tools, JustMarkets creates an optimal trading environment for those who want to trade gold efficiently.

In addition to the comprehensive educational assistance, JustMarkets continues to position itself as a strong competitor for traders who are looking for professional trading conditions combined with growth opportunities.


Kindly share this post
Continue Reading

E-Business

Microsoft Expands Africa AI Push while DeepSeek Gains Users

Published

on

Kindly share this post

Microsoft is stepping up its push to expand artificial-intelligence adoption across Africa as competition intensifies with Chinas DeepSeek for influence in one of the worlds youngest and fastest-growing digital markets.

Microsoft Expands Africa AI Push while DeepSeek Gains Users

The company plans to train 3 million Africans on its AI technologies this year through partnerships with schools, universities and other institutions, with a focus on South Africa, Kenya, Nigeria and Morocco.

The effort reflects Microsofts broader attempt to accelerate adoption of its AI ecosystem across emerging markets where developers and enterprises are increasingly experimenting with generative AI tools.

Alongside the training initiative, Microsoft is working with MTN Group (MTNOY), Africas largest telecommunications company, to distribute Microsoft 365 and its Copilot digital assistant to about 300 million subscribers.

The Elevate program is designed to expand AI literacy and reduce cost barriers that might otherwise limit adoption, according to regional leadership.

The push comes as Chinese technology firms expand their footprint across the continent, with DeepSeeks open-source models accounting for roughly 11% to 14% of chatbot use in several African markets and reaching about 20% in countries such as Ethiopia and Zimbabwe following investments tied to digital infrastructure and telecom networks.

Microsoft is also increasing its infrastructure investment in the region.

In South Africa, the company plans to invest 5.4 billion rand, or about $330 million, to expand its cloud and AI capacity by the end of next year, while it is also exploring plans for a geothermal-powered data center in Kenya.

Early corporate adoption is emerging across the continent, with South African grocer Spar Group using Copilot in ways that save more than 700 employee hours annually and Nigerias Access Holdings integrating AI into daily workflows.

Regional leadership has suggested broader AI adoption could potentially contribute up to $1.5 trillion to Africas gross domestic product by 2030 if governments and businesses continue investing in digital infrastructure and AI skills.

 


Kindly share this post
Continue Reading

E-Business

Kaspersky Uncovers a New Android Malware Campaign Disguised as Starlink Application

Published

on

Kindly share this post

Kaspersky Global Research and Analysis Team (GReAT) has uncovered a new Android malware campaign in which cybercriminals distributed the BeatBanker Trojan under the guise of the Starlink application for Android.

Threat actors primarily target users from Brazil; nevertheless, Kaspersky experts don’t rule out that users from other countries may also face this threat.

The Trojan employs a Monero cryptocurrency miner and additionally installs a BTMOB remote administration tool (RAT) on the infected devices. To maintain its persistence, BeatBanker uses an uncommon mechanism involving a nearly inaudible looped audio file.

“At first we saw BeatBanker being distributed under the guise of a public services app; it installed a banking Trojan in addition to a cryptocurrency miner. However, our recent detection efforts uncovered a new campaign with another BeatBanker variant that deploys the BTMOB RAT instead of the banker module.

The attackers appear to be using a fresh lure with the Starlink app to reach more victims from different countries. Therefore, it is important for users to stay vigilant and use advanced solutions to protect their smartphones,” comments Fabio Assolini, Head of the Americas & Europe units at Kaspersky GReAT.

Initial vector of infection

Kaspersky experts believe that cybercriminals distribute a fake Starlink application containing the BeatBanker Trojan through phishing pages that mimic the Google Play Store. After execution on a compromised device, the Trojan displays a user interface that also mimics Google Play. Cybercriminals trick victims into granting installation permissions, thus allowing the download of additional hidden malicious payloads.

Crypto mining and BTMOB RAT module

When a user clicks UPDATE on the fake Google Play page, a Monero cryptocurrency miner deploys. BeatBanker monitors battery percentage and the temperature of an infected smartphone, as well as user activity after which a hidden cryptocurrency miner is started or stopped.

The Android Trojan also installs a BTMOB RAT on the compromised device. BTMOB enables full remote control and is sold as Malware-as-a-Service.

It is capable of automatic granting of permissions, hide system notifications and has mechanisms designed to capture screen lock credentials, including PINs, patterns and passwords on compromised devices. The malware also gives cybercriminals access to the front and rear cameras, GPS location monitoring and constant collection of sensitive data.

To ensure persistence and hinder uninstallation, BeatBanker maintains a fixed notification in the foreground and activates a foreground service with silent media playback. This tactic is designed to prevent the operating system from removing the malicious process.

Kaspersky’s products detect this threat as HEUR:Trojan-Dropper.AndroidOS.BeatBanker and HEUR:Trojan-Dropper.AndroidOS.Banker.*.

 


Kindly share this post
Continue Reading

Trending