Spotify Makes Moves In Ghana For Development Of Emerging Artists
PayDay gets $3 million and NALA gets its payment license in Tanzania
What’s happened this Week:
PayDay raises $3 million in seed funding
Market intelligence firm Rwazi raises $4 million
NALA receives payment license in Tanzania
and more!
This week, US Vice President Kamala Harris was in town in Accra as well as the Spotify Africa team.
Spotify announced a donation to Vibrate Space, a non-profit organization helping young Ghanaian music entrepreneurs with the tools and skills they need to thrive in the industry, from its Creator Equity Fund to support emerging artists in Ghana.
Spotify has been making some moves in Ghana in the past year including starting a creator fund for podcasts in Africa and bringing Kendrick Lamar to Ghana to promo his latest album.
We spoke to Phiona Okumu, Head of Music for Sub-Saharan Africa (SSA) about future plans in Africa and she stated that Spotify was monitoring the developments of its initiatives and would be looking to invest more if the results were positive.
Read more about the donation and Spotify’s moves 👇🏽
In The News This Week:
Tanzanian Fintech NALA Receives Payment Service Provider License from Bank of Tanzania
NALA, the fintech firm payments company from Tanzania has been granted a Payment Service Provider License to operate in the country.
Senegal Develops National Data Strategy In Partnership with Smart Africa and GIZ
The Ministry of Communication, Telecommunications and Digital Economy (MCTEN) completed the Senegal Digital Strategy 2025 (SN2025) in partnership with Smart Africa and GIZ via its Data Economy project
Kora Launches USD Card-Acquiring in Africa
As part of its renewed global strategy, pan-African payments infrastructure, Kora has launched USD card-acquiring, allowing merchants on its platform to accept payments in US dollars.
Côte d’Ivoire Launches Startup Act to Boost Tech Sector
The Ivorian government has launched its Startup Act as part of its efforts to support tech start-ups. The new framework is designed to help promising young companies to thrive in the country.
Bank Of Ghana Delays Launch Of E-Cedi Project Due To Economic Challenges
The Bank of Ghana (BOG) has stated the launch of the E-Cedi project has been delayed due to the economic challenges faced in 2022.
Neobank PayDay Raises $3 Million In Seed Funding For Its Future of Work Initiative
Payday, a neobank issuing global (USD, EUR & GBP) accounts to Africans, has raised $3 million, money the platform intends to use to fuel its “future of work” initiative through borderless payment alternatives in major currencies.
Rwazi, A Market Intelligence Firm, Raises $4 Million In Seed Funding
Rwazi, a market intelligence firm has amassed $4 million in a round of seed funding with support from Bonfire Ventures’ support, Newfund Capital and Alumni Ventures also contributed to the round.
Story Features
Can Ghana Achieve Nuclear Power Production In 2030?
Ghana over the past years has been considering alternate sources including renewables such as solar.
But recently, Ghana has been considering another alternative source of energy for its development needs: Nuclear Power.
But can Ghana deliver on its promise to develop nuclear power by 2030?
Africa Ecosystem Funding Activity
SA VC firm Kalon Venture Partners to raise $50m pan-African fund - Disrupt Africa
Nigerian prop-tech startup HouseAfrica raises $400k funding round - Disrupt Africa
Kenyan B2B e-commerce startup Zumi closes after failing to secure funding - Disrupt Africa
Kenyan VC firm Factor[e] Ventures launches venture studio Delta40 - Disrupt Africa
Nigerian prop-tech startup HouseAfrica raises $400k funding round - Disrupt Africa
Ecosystem Data Portal Updates
We updated a new update to our data portal. We added a data component for Companies With Female Founders
You can access all this data by subscribing to our portal here for $20/month (or 60GHC a month)