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Day Two: The Funding Equation – Africa Tech Festival’s AfricaIgnite unpacks top tips for start-ups

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3 years ago

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Africa Tech Festival

Chemistry, then brain power and proof of concept, the key to unlocking investment

JOHANNESBURG, South Africa, November 17, 2023/APO Group/ — 

Delegates at Africa Tech Festival 2023 (https://apo-opa.co/473ZEif) in Cape Town were given a master class on the dos and don’ts of fundraising on Wednesday 15 November, during several sessions at AfricaIgnite, the festival’s dedicated start-up zone. And surprisingly, establishing a good rapport with potential funders came out as the top tip.

Africa is an intellectual property factory – DERRICK ASHONG, CEO, TBTM

Said Eric Osiakwan of Chanzo Capital: “Investors look for chemistry and that comes from your storytelling.  Ask yourself, how do I make a connection with a person which is less transactional? Tell them what you are doing and why you are doing it. After the initial connection, the rest becomes easier. But you have to tell your investor something that sticks out and stays in their mind, something unique.”
 
Joining the list of reasons why investors say “no”, is not having enough information at hand. “Last year I spoke to over 100 start-ups who complained they were just not getting funding. I went on a road show to find out why, and investors say they just aren’t getting enough information during pitches. You have one shot in that room to present. There is no harm in, before your pitch, sending an email to see what they require from you,” said Lara Rosman of UVU Accelerate.
 
Keshni Morar, of Investable outlined the different types of funding. “Angel funders usually take the first level of risk, so they expect a lot, while VCs will first have a talk with LPs [limited partners] to see if there is potential for growth. Private equity investors look for a company that is stable, is growing and has a good income. The important thing is you have to choose the appropriate fundraising for the stage that your company is in.”
 
Sherif Nessim, of Jedar Capital, says timing is imperative. “You need to know when to start raising funds, what type of equity and value. And don’t raise more than you need. Also consider what amount you want to raise and how much equity you want to give away.”
 
Painting a picture for tomorrow requires investment today
Africa’s burgeoning creative economy was also spotlighted on Wednesday, with Felix Orevoghene Alaita, noting that a lack of funding for Africa’s creator economy is due to investors not believing in content made in Africa.  Alaita, who is a retired army colonel, now turned tech start-up founder who also owns a creative hub, movie, and music studio in Nigeria, said: “The value you bring to government coffers is minimal. We must push to make the industry more visible.  We can’t rely on government to assist so we need to align ourselves to the right people.”
 
But another hurdle for Africa’s creative economy to overcome, is convincing those with the deep pockets to see this sector as a viable and sustained industry that can deliver returns.  “The creative industry is created by perception like how successful it will be, potential income… So, it’s difficult for people to believe in this. It’s not like a tangible thing like a toll road that you invest in,” said Derrick Ashong, CEO of TBTM.
 
During the panel discussion, Funding Gaps in the African Creator Economy, Ashong said all aspects of Africa’s creator economy are underfunded. “What you are in fact selling is your intellectual property. There’s a lack of capital overall because there’s a lack of understanding that investors are investing in intellectual property,” Ashong said.
 
Guy Kamgaing, StarNews Mobile CEO, agreed: The essence of entertainment comes out of Africa. Once you understand just how much is coming from Africa, you’ll realise we have to create a lot of instruments (to highlight the industry).”
 
Ashong suggests that African creators are too “hyper-local”. “One of the biggest missing elements, is the inability to create content that appeals globally. We have to make it more relatable, so we can aggregate enough audiences. You can’t tell me African creators don’t have the wherewithal to stand up globally …. Africa is an intellectual property factory.”
 
Kamgaing countered that it was important for creators to first make money in Africa before doing so abroad. “They need to make money in Africa first. Americans make their money there and the Koreans make their money in Korea,” he said.  
 
Africa Tech Festival continues Thursday 16th November with yet more incredible content including the exciting AfricaIgnite Pitch Competition, which will see one lucky winner make their way to the USA to battle it out for USD 1 million investment in the final of the Pegasus Start-Up World Cup.

For more information about Africa Tech Festival, please see website here: Africa Tech Festival 2023 – The Home of AfricaCom & AfricaTech (https://apo-opa.co/473ZEif)

View all ticket options for Africa Tech Festival, including start-up passes, here: https://apo-opa.co/49mTtau

Distributed by APO Group on behalf of Africa Tech Festival.

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Novum Studio Secures New Funding to Launch Ahoy Project, an AI-Native Enterprise Transformation Platform, Building on Its 20-Million-User Gen Z App Frog

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July 24, 2026

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Novum Studio
  • Novum Studio has raised a new round of funding to launch Ahoy Project, its enterprise AI solution, with internal testing scheduled for July 2026.
  • Ahoy Project is positioned as the infrastructure for AI-native enterprise transformation – an AI-native communication platform serving as the underlying system, delivered as an end-to-end tailored solution.
  • The launch expands the company beyond Frog, its Gen Z consumer social app that has reached 20 million users across the U.S. and Europe.
  • Novum Studio said it is applying lessons from operating high-frequency social platforms at scale to workplace communication and knowledge systems.

NEW YORK, USA – Media OutReach Newswire – 24 July 2026 – Novum Studio, the company behind Frog – a Gen Z social app often described as a “new-generation Snapchat” – said it has raised a new round of funding and will use the proceeds to launch Ahoy Project, an AI-native enterprise communication and collaboration platform, with internal testing scheduled for July 2026.

The Novum Studio team at London Tech Week 2025.

Unlike conventional workplace software, Ahoy Project will not be sold as a standalone software subscription, the company said. Novum Studio provides the infrastructure and a full tailored solution for enterprises undergoing AI-native transformation, with the communication platform serving as the underlying system on which that transformation is built.

Founded as a consumer social company, Novum Studio has reached more than 20 million users across the U.S. and Europe. Frog gained traction among younger users through spontaneous, real-time sharing designed around authenticity and low-pressure interaction. The company said its experience building large-scale social “spaces” – where millions of people communicate, form groups and coordinate in real time — directly informs its approach to enterprise collaboration.

The new funding will support the launch and international expansion of the enterprise business as artificial intelligence reshapes how organizations communicate, collaborate and operate, the company said.

Novum Studio was founded by Anna Danyi, who graduated from the London School of Economics and Political Science (LSE) in 2018 and began her career in consulting and technology. Before founding Novum Studio, she built multiple consumer applications and exited through an acquisition. In 2025, Forbes China recognized her among the Top 100 most influential global Chinese figures in AI digital products area.

“We spent years understanding how millions of users communicate online,” Anna Danyi said. “In the AI era, communication itself is becoming intelligent. We believe the next generation of platforms will not only connect people — they will understand workflows, collaboration and organizational behavior.”

From Consumer Social to Enterprise AI

Modern organizations face growing challenges as critical knowledge, decisions and workflows become fragmented across chats, meetings and disconnected tools, the company said. Ahoy Project addresses this as a conversation-driven, AI-native collaboration layer: it captures context from day-to-day communication to build a searchable enterprise knowledge base and support workflow coordination.

Core capabilities include conversation-based knowledge organization, AI-assisted collaboration and workflow support integrated directly into team communication. Because the platform sits at the layer where work is discussed and decided, it can serve as the foundation for a broader AI-native operating model – with Novum Studio designing and delivering the surrounding transformation solution for each enterprise client.

Ahoy (Popeye AI) turns everyday team conversations into a searchable enterprise knowledge base.

A New Direction for Social Technology

Novum Studio said its expansion reflects a broader shift across the technology industry. Platforms such as TikTok and Instagram defined how content was distributed and consumed in the mobile social era; as AI becomes embedded in digital products, the company believes the next stage will center less on feeds and more on intelligent systems that understand communication and coordination.

“We are no longer just building products where people post content,” Anna Danyi said. “We are building systems that understand how humans communicate and operate together.”
 

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Venezuela Energy Week to Host Houston Industry Showcase, Unlocking United States (U.S.) Commercial Engagement Ahead of October Summit

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2 days ago

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July 24, 2026

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African Energy Chamber

Ahead of Venezuela Energy Week 2026, U.S. exploration companies, independent operators, oilfield service providers and investors are invited to explore commercial opportunities across Venezuela’s upstream sector at the Houston Industry Showcase next month

HOUSTON, United States of America, July 23, 2026/APO Group/ –Venezuela Energy Week will host an Industry Showcase in Houston on August 18, 2026: a targeted industry roadshow designed to engage U.S. energy stakeholders ahead of the October summit. Held at The Post Oak Hotel, the showcase will convene senior representatives from across the U.S. upstream ecosystem – including exploration and production companies, Texas-based independents, oilfield service companies, engineering and technology firms, commercial banks, private equity firms and family offices – to assess commercial pathways for participation in Venezuela’s energy sector.

 

As Venezuela looks to expand production, U.S. companies remain well positioned to contribute technical expertise, capital and operational capabilities across the upstream value chain. Chevron’s longstanding presence in the country highlights the continued importance of U.S. industry participation, while the scale of Venezuela’s resource base continues to attract interest from major international energy companies, including ExxonMobil and ConocoPhillips. Opportunities extend across exploration, field development, production optimization, infrastructure rehabilitation and digital modernization as Venezuela seeks to strengthen its energy sector.

 

Demand is also expected to grow for oilfield service companies, engineering firms, technology providers and financial institutions that can support upstream investment and project execution. Companies including SLB, Halliburton and Baker Hughes have been identified as potential partners in advancing production optimization and infrastructure rehabilitation, while commercial banks, private equity firms and family offices will play an important role in financing future investment opportunities.

 

Against this backdrop, the Houston Industry Showcase will provide a structured engagement platform at a time when select international operators continue to operate under U.S. Treasury-authorized frameworks, and where policy considerations in the U.S. continue to shape engagement parameters in Venezuela’s energy sector.

 

The event will enable U.S. exploration companies, independent operators, oilfield service providers and investors to assess technical and commercial pathways across exploration, field services, project delivery and broader supply chain opportunities, while supporting early-stage dialogue between international investors and Venezuela-focused stakeholders in a structured commercial environment ahead of the October summit.

 

To register for the Houston Industry Showcase on August 18, visit www.venezuelaenergyweek.com/rsvp-houston. To learn more about delegate, sponsorship and partnership opportunities for the showcase or to secure your place at Venezuela Energy Week 2026 in Caracas this October, contact info@venezuelaenergyweek.com.

 

Supporting Venezuela’s Earthquake Recovery

 

Our thoughts are with the people and communities affected by the recent earthquakes in Venezuela. As the country begins the long process of recovery, we encourage members of the global energy community to support relief and reconstruction efforts through the CAF Recovery and Reconstruction Fund for Venezuela, which channels contributions from individuals, companies and organizations to emergency assistance, essential services and long-term rebuilding efforts.

 

To learn more or make a contribution, please visit the CAF Recovery and Reconstruction Fund for Venezuela (https://apo-opa.co/4fM0rLr).

 

Distributed by APO Group on behalf of Energy Capital & Power.

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Business

Africa Trade Gateway Delivers US$5.3-Million Cross-Border Transaction in First Energy Sector Trade in Southern Africa

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2 days ago

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July 24, 2026

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Afreximbank

The transaction represents an important milestone for both the participating institu-tions and the ATG ecosystem as it marked Innbucks Microbank’s first completed transaction through the platform and the ATG’s first recorded energy-sector transac-tion in Southern Africa

HARARE, Zimbabwe, July 23, 2026/APO Group/ –A US$5.3-million cross-border fuel (gasoil) trade transaction has been successfully completed with support of the Africa Trade Gateway (ATG), African Export-Import Bank’s (Afreximbank’s) (www.Afreximbank.com) flagship digital trade ecosystem, demonstrating the value and efficacy of the Gateway in powering African trade.

The transaction, which saw Zimbabwean fuel importer Witeva Trading source a gasoil shipment from a leading commodity trader and supplier in Switzerland, with Innbucks Microbank Ltd. participating as the local issuing financial institution and Afreximbank providing confirmation support under agreed trade finance structure, demonstrates how African businesses can leverage one connected ecosystem to identify opportunities, access finance and complete international trade more efficiently.

The ATG made it possible for the commercial opportunity to be connected to the right ecosystem participants, bringing together the buyer, supplier and participating financial institutions to support a successful execution of the transaction.

The transaction represents an important milestone for both the participating institutions and the ATG ecosystem as it marked Innbucks Microbank’s first completed transaction through the platform and the ATG’s first recorded energy-sector transaction in Southern Africa.

This transaction demonstrates the value of bringing African businesses and financial institutions together through one connected trade ecosystem

It also demonstrates how African Businesses can use a single digital ecosystem to identify commercial opportunities, connect with verified counterparties, access trade-finance support and execute cross-border transactions more efficiently.

Peter Olowononi, Director, Regional Operations, Southern Africa, at Afreximbank, said:

“This transaction demonstrates the value of bringing African businesses and financial institutions together through one connected trade ecosystem. By creating a digital ecosystem to expand access to trade finance, Afreximbank is enabling more businesses to participate easily in regional and international trade.”

Emeka Onyia, Director, Digital Business, at Afreximbank, added:

“The Africa Trade Gateway is more than a mere digital platform; it is the ecosystem that helps trade happen. We help businesses discover opportunities, connect with trusted buyers, suppliers and financial institutions, and facilitate the journey from commercial opportunity to completed transactions. Every successful deal strengthens the network, attracts new participants and creates more opportunities for African trade.”

“As more businesses, banks and trade partners join the ecosystem, every successful transaction expands the marketplace, strengthens trust across the network and increases opportunities for future trade,” Mr. Onyia added.

Distributed by APO Group on behalf of Afreximbank.

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