The Growth Of The Tech Ecosystem In Cote D'Ivoire
Luno CEO steps down and Liberia to modern its finance systems with a grant
What’s happened this Week:
CEO of Luno Crypto Exchange steps down
African Development Fund gives $3 million grant to Liberia to modern its finance systems
Sometimes the Francophone tech ecosystem tends to be ignored when it comes to news of fundraising and other tech events.
This week, we decided to take a look at the ecosystem in Cote D’Ivoire (Ivory Coast). Cote D’Ivoire has one of the fastest-growing economies in Africa, with an average annual growth rate of 7% since 2012.
According to Digest Africa, the 10 most funded startups in Ivory Coast have raised a combined $19 million across 23 deals.
We took a dive into how the major players are in Ivory Coast and who is helping the ecosystem grow.
(Also, there’s a fintech event happening in Ghana with a francophone theme on May 12th)
In The News This Week:
Volvo Delivers First Heavy Electric Truck to Morocco
Volvo Trucks has delivered its first heavy electric truck to the country of Morocco. Volvo delivered its truck to refuse collection company Arma.
Fin Acquires Thuthukani Housing Finance In South Africa
Fintech firm Fin has announced that it has completed the acquisition of South African housing finance provider Thuthukani Housing Finance (“Thuthukani”).
Verod-Kepple VC Raises $43 Million for Pan-African Fund
Africa-focused venture capital Verod-Kepple, has raised $43 million for its fund targeting startups in the continent.
African Development Fund Approves $3.9 Million Grant To Modernise Payments In Liberia
The African Development Fund’s Board of Directors has approved $3.9 million grant to finance the upgrade of Liberia’s payments infrastructure and systems project.
Marcus Swanepoel Steps Down As CEO Of Crypto Exchange Luno
The CEO of cryptocurrency exchange Luno, Marcus Swanepoel, is stepping aside and handing the reins to its head of operations.
Could A “Transparency Law” Help Reveal Salary Ranges In Job Descriptions In Ghana?
One of the challenges for job seekers in Ghana is determining the salary for a role they’re applying for.
Due to lack of data and the practice of putting employers putting in “competitive salary” in job descriptions, job seekers never get the chance to know if they should put in the effort to apply for a role.
According to a recent analysis by Forbes, only 18% of tech jobs include pay ranges in their employment ads, compared to 25% of all jobs. This means that tech workers have less information and bargaining power when it comes to their compensation.
But a recent trend in the US could help job seekers level the playing field if it was emulated in Ghana and the African tech space.
Africa Ecosystem Funding Activity
Applications open for 4th edition of ShEquity’s female-focused accelerator programme - Disrupt Africa
Applications open for 13th Orange Social Venture Prize in Africa and Middle East - Disrupt Africa
Kenyan B2B e-commerce startup Zumi closes after failing to secure funding - Disrupt Africa
Ecosystem Data Portal Updates
We’re currently working on adding new sections to our database: Venture Capital and Ghana Movie/TV Show database.
The Venture Capital section will show a list of VCs who invest in the Africa ad Ghana tech ecosystem as well as the industries they invest in.
The Ghana Movie/TV Show will have list of past Ghanaian Movies and TV shows (Similar to IMDB)
You can access all this data by subscribing to our portal here for $20/month (or 60GHC a month)