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Africa Tech News

Africa Tech News

De : Africa Business Radio
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 An exclusive podcast reporting daily on the happenings in the world of tech in Africa.
From Social Media to Agric-tech, Legal tech, Fintech, Health-tech, Edtech, etc; All the stories, events, and fundraising, catch the latest juice right here from Monday to Friday

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    • Amazon and SpaceX Accused of Trying to Demolish National Labor Law

      Amazon and SpaceX Accused of Trying to Demolish National Labor Law
      Feb 21 2024
      Amazon alleged in a legal filing published that the National Labor Relations Board is unconstitutional.
      SpaceX and companies that, like Amazon, have repeatedly faced labor law violations from the federal agency have recently made similar attacks that threaten national worker protections.
      Amazon claims that the NLRB’s structure is unconstitutional because administrative law judges are insulated from presidential oversight, thus violating the separation of powers. The company also argues against the structure of NLRB itself, as well as its ability to fine a company for unfair labor practices after a hearing, rather than a full jury trial.

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      2 min
    • Partech Closes Its Second Africa Fund At $300M+ to Invest in Series C

      Partech Closes Its Second Africa Fund At $300M+ to Invest in Series C
      Feb 21 2024
      Partech has closed its second Africa fund, Partech Africa II, at $300 million+, just one year after reaching its first close.
      Partech Africa, which originally targeted €230 million before its fundraising efforts started, solidifies its position as the largest fund dedicated to African startups.
      Amidst a backdrop of global VCs and institutional investors pulling back from Africa, Partech Africa’s recent fund closure is significant.
      The continent witnessed a notable decline in investor activity, with a 50% decrease in 2023 compared to the previous year, as highlighted in a Partech report.
      This retreat, influenced by global economic shifts and local challenges, translated into reduced venture capital inflows for African startups, totalling between $2.9 billion and $4.1 billion last year, down from $4.6 billion to $6.5 billion in 2022.

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      2 min
    • Kenyan EV Startup Roam Secures $24m to Scale Production

      Kenyan EV Startup Roam Secures $24m to Scale Production
      Feb 21 2024
      Roam, a Kenya-based electric vehicle company has raised $24 million in equity and debt to expand local manufacturing capabilities in Kenya, scale up production at its new 10,000 sqm Roam Park facility, invest in research and tooling for cost efficiencies, and streamline local and global supply chain networks.
      The $14 million Series A funding round was led by Equator Africa and participation from At One Ventures, TES Ventures, Renew Capital, The World We Want, and One Small Planet, among other prominent private and institutional investors.
      The $10 million debt facility was provided by the International Development Finance Corporation.
      Estimates from the BloombergNEF show that EV sales are projected to reach 16.7 million in 2024, representing a 20% increase from the previous year.

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      2 min
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