What’s happened this Week:

• Kenya to sign startup bill in 2024

• Sky.Garden relaunches after acquisition

• and more!

Online retailer Sky.Garden has relaunched following a Kshs 250 million buyout by the Lipa Later Group.

The Lipa Later Group-backed investment in Sky.Garden has revamped its platform to introduce new features in its ecosystem and aspires to connect 100,000 merchants in the next year.

The relaunch coincides with the rapid expansion of e-commerce markets in Kenya and other African countries, driven by factors such as increased internet penetration and more affordable data costs.

In The News This Week:

Kenya To Sign Startup Bill Into Law In 2024

Kenya’s President William Ruto has stated that he will sign Kenya’s Startup Bill 2022 into law in 2024.

Speaking during the Kenya Innovation Week (KIW), the president said he will sign the bill into law by April next year. 

Crypto Company NoOnes Officially Launches In Global South With Ray Youssef as CEO

NoOnes, a financial communication super app connecting people of the Global South to the world’s financial systems, has announced its official launch.

The launch follows the appointment of Ray Youssef as CEO to champion the startup’s audacious mission to achieve a billion daily active users of Bitcoin within the next seven years.

Amini Raises $4 Million In Seed Funding Round Led by Salesforce Ventures and Female Founders Fund

Amini, a Nairobi-based climate tech startup focused on solving Africa’s environmental data gap through artificial intelligence and satellite technology, has raised $4 million in a seed funding round.

In the rest of the news:

• M-KOPA Announces Official Launch In Ghana After Successful Pilot

• Digital Commerce Startup tappi Raises $1.5 Million in Oversubscribed Pre-Seed Round

• MTN Ghana CEO Selorm Adadevoh Promoted To Chief Commercial Officer of MTN Group

• AppsFlyer Acquires oolo to Transform AI-Driven Decision-Making for Marketing, Growth and Monetization Teams

• Flutterwave Secures Money Transmission Licenses in the U.S to Service 29 States with its Send App for Consumers and Enterprises

• YouTube Premium and YouTube Music Launches in Kenya, Ghana and Senegal

• Kenya EV Startup BasiGo Raises $5 Million In Debt Funding To Scale Production

• Bujeti Raises $2 Million in Seed Funding to Transform Business Finances and Operations

Africa Ecosystem Funding Activity

• Accelerator company Startupbootcamp AfriTech launches investor syndicate - Disrupt Africa

• Tunisian team collaboration startup Cynoia raises $930k for West African expansion - Disrupt Africa

• 8 startups selected for latest Grindstone Africa accelerator programme - Disrupt Africa

• Francophone Africa-focused VC firm Saviu Ventures reaches $13m 1st close of 2nd fund - Disrupt Africa

Podcast: Venture Capital In Africa with Isis Nyong’o (Madica)

On today’s episode, we spoke with Isis Nyong’o, a mentor at Madica, a structured investment program for pre-seed-stage companies in Africa.

We discussed trends of investment in 2023, sectors in Africa that have the potential for more investment, and what 2024 might look like for VCs.

Data Insights: Africa Countries with Startup Acts

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