Flutterwave Welcomes Court Ruling In Battle With SoftBank-Backed Founder
Kenyan Court of Appeal upheld lower court ruling in Flutterwave vs. Clara Wanjiku Odero case. Court dismissed Odero's appeal, awarding her KES 250 K in damages.
Next Wave: How investor activity changed after 2022
A surge in startup funding in Africa's tech ecosystem in 2021 fueled by foreign capital and a low-interest rate environment. Major investors like Tiger Global and SoftBank pulled back due to rising interest rates and geopolitical tensions.
Nigeria’s Fintech Challenger OPay Sees Valuation Soar Despite Tech Downturn
OPay's valuation has climbed to between USD 2.7 B to USD 2.9 B, defying market trends. Opera divested its stake in OPay from 31% to 9.44%.
Homegrown African VCs emerge to fill in the gaps foreign investors cannot
Accelerated activity in the African startup scene is reported in regions beyond the traditional markets of Egypt, Kenya, Nigeria, and South Africa. Foreign VC firms accounted for 77% of total funding in 2022, highlighting the need for more local fund managers.
