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📉 USADF Slashes $51m in Support To African Startups & Farmers

📉 USADF Slashes $51m in Support To African Startups & Farmers

Plus: Peach Payments acquires PayDunya

Innovation Village
April 11, 2025

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Today’s Menu ☕️

📉 African Startups and Farmers Hit as USADF Slashes $51m in Support
💰 Purple Elephant Ventures raises $500,000, totaling $5 million for sustainable tourism in Africa
📱NCC Proposes 12-Month Grace Period for Unclaimed Airtime Refunds
📱 Instagram To Finally Launch Its iPad App
💵 Peach Payments acquires Senegalese payment platform PayDunya, expanding into Francophone Africa

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📉 FUNDING

African Startups and Farmers Hit as USADF Slashes $51m in Support

Thousands of small businesses and agricultural cooperatives across sub-Saharan Africa are facing uncertainty after the U.S. African Development Foundation (USADF) slashed $51 million in funding previously earmarked for startups and small enterprises. The budget cut threatens to disrupt promising initiatives in countries like Nigeria, Kenya, Benin, and Burkina Faso, where U.S. funding has historically supported grassroots economic development.

The decision to reduce USADF’s budget was announced by the Department of Government Efficiency (DOGE), a controversial U.S. agency created under former President Donald Trump and reportedly now led by Elon Musk. DOGE claims its mission is to reduce waste and streamline federal spending, and it says it has already saved taxpayers over $140 billion—partly by eliminating programs deemed inefficient, including those run by USAID and USADF.

Among the casualties of this latest round of cuts are small, impact-focused projects such as a WhatsApp chatbot to support small business marketing in Kenya (budgeted at $48,406) and a wellness incubator in Nigeria (allocated $84,059). More significant initiatives have also been affected, such as nearly $230,000 for a shea butter cooperative in Burkina Faso, $240,000 for pineapple juice processing in Benin, and over $246,000 for mango drying facilities in Côte d’Ivoire.....…continue reading

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💰 FUNDING

Purple Elephant Ventures raises $500,000, totaling $5 million for sustainable tourism in Africa

Nairobi-based venture studio Purple Elephant Ventures (PEV), which focuses on the tourism sector, has successfully topped up its seed funding round by an additional $500,000, bringing the total amount raised to an impressive $5 million. This strategic funding boost positions PEV as a significant player in the African tourism-tech landscape.

Founded by a trio of experienced entrepreneurs, PEV is led by CEO Ben Peterson, who previously served as a senior partner at AHL Venture Partners. He is joined by Jan Van der de Willebois, a former investment banker at Dyer & Blair, and Mikul Shah, a serial entrepreneur and the founder of EatOut Africa. Together, they aim to launch three to four innovative startups each year, all designed to revolutionize the tourism industry across the continent.

PEV’s mission is to guide Africa’s tourism sector towards a more sustainable and environmentally friendly future. The startups incubated by PEV are typically tech-driven and scalable solutions that address the urgent need for resilience and sustainability in the face of climate change challenges affecting the tourism industry.......…continue reading

📱 TELECOMS

NCC Proposes 12-Month Grace Period for Unclaimed Airtime Refunds

The Nigerian Communications Commission (NCC) has proposed a 12-month grace period for subscribers to reclaim unused airtime on deactivated lines. The initiative aims to safeguard consumer rights and promote transparency within Nigeria’s telecommunications sector.

The proposal was announced by the Executive Vice Chairman/CEO of the NCC, Aminu Maida, during a virtual stakeholder engagement forum held in Abuja. He was represented at the event by the Executive Commissioner for Stakeholder Management, Rimini Makama.

Maida emphasized the significant contributions of the telecommunications industry to economic growth, financial inclusion, and digital transformation in Nigeria. He noted that the widespread availability of mobile services, combined with the flexibility of prepaid plans, has benefitted millions across the country.......…continue reading

📱 SOCIAL MEDIA

Instagram To Finally Launch Its iPad App

After years of waiting, the Instagram iPad app is here! This long-anticipated launch is more than just an update; it’s a game-changer. Now, iPad users can enjoy a smoother, more intuitive Instagram experience, tailored to the larger screen.

Let’s face it. Instagram has been one of the most popular social platforms for over a decade. But until now, iPad users had to make do with the mobile app in “phone mode” or access it through a web browser. No more! The app is designed to take full advantage of the iPad’s features, offering a richer, more immersive experience..........…continue reading

💵 ACQUISITION

Peach Payments acquires Senegalese payment platform PayDunya, expanding into Francophone Africa

Digital payments gateway Peach Payments has announced its acquisition of the Senegalese payment platform PayDunya, marking a significant milestone as it enters the Francophone African market. This move follows Peach Payments’ previous expansions into Eswatini, Mauritius, and Kenya, further solidifying its position as a key player in the African digital payments landscape.

Founded in Cape Town in 2012, Peach Payments offers a comprehensive toolkit designed to assist businesses in accepting, managing, and disbursing payments through both web and mobile platforms. The startup has witnessed remarkable growth in recent years, successfully raising US$31 million in funding and initiating a series of strategic acquisitions.

With the acquisition of PayDunya, Peach Payments is set to enhance its presence in Francophone Africa. PayDunya, established in 2015 and based in Dakar, aims to simplify the digitalization of sales, payments, and daily operations for African businesses. The platform provides a single API that enables businesses to seamlessly send and receive payments. Currently, PayDunya operates in six West African Francophone countries, positioning itself as a vital player in the region’s fintech ecosystem.........…continue reading