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Cynoia voted Best SaaS Startup at AfricArena 2024

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Cynoia (https://Cynoia.com), the African-built team workspace platform, has been named Best SaaS Startup at the prestigious AfricArena Grand Summit 2024 in Cape Town. The summit, celebrating its seventh year as Africa’s premier tech ecosystem accelerator event, brought together over 100 startups from 31 African countries.

 

Download document: https://apo-opa.co/3ZGAunc

 

Manar Labidi, Cynoia’s Chief Financial Officer, accepted the award at the Cape Town International Convention Centre, where the company competed alongside 45 other startups pitching on what AfricArena founder Christophe Viarnaud calls the “stage of Africa’s future.” This recognition at one of Africa’s most significant tech gatherings reinforces Cynoia’s position as a leading innovator in the African SaaS landscape.

 

2024 has been a transformative year for Cynoia, which helps teams collaborate better while reducing their software costs by up to 80%. With leadership evolution, international recognition, and expansion across the continent, the team is now preparing to revolutionize how African teams work with its upcoming AI engine, Hannibal.

 

We’re not just creating another collaboration tool – we’re building the workspace that African teams actually need

In a significant internal promotion, Nermine Slimane (https://apo-opa.co/4iBCFRE) advanced from Team Lead to Chief Technology Officer, bringing her deep understanding of Cynoia’s architecture to the executive team. This move enabled co-founder Ayoub Rabeh (https://apo-opa.co/4gDmNwa) to step into a dedicated Chief Product Officer role, strengthening the company’s product development focus. Felipe Millan (https://apo-opa.co/3P45PeB) joined as Chief Marketing Officer, completing a leadership team that reflects Cynoia’s commitment to diversity, with women representing 47% of the company.

 

“We’re building something special here,” says Nassreddine Riahi (https://apo-opa.co/3OULb0H), CEO of Cynoia. “Our team is stronger than ever, and we’re reaching more businesses across Africa than we imagined possible when we started. We’re not just creating another collaboration tool – we’re building the workspace that African teams actually need.”

 

November saw the release of Cynoia Version 2.0, introducing enhanced project management, chat, video calls, and file sharing in a single, bandwidth-efficient platform adapted to all budgets. The company has expanded its presence beyond Tunisia, establishing a legal entity in Senegal and growing its user base in Ivory Coast, Democratic Republic of Congo, Cameroon, and Rwanda. “Being closer to our users helps us understand their real needs,” explains Ayoub Rabeh, CPO. “Every market is unique, and we’re adapting our platform accordingly, especially for areas with limited internet connectivity.”

 

Looking ahead to 2025, Cynoia is set to launch Hannibal, its AI engine designed specifically for African teams. “Hannibal will make advanced AI accessible to businesses across the continent, regardless of their size or location,” notes Nermine Slimane, CTO. “We’re focusing on practical AI applications that make sense for how African teams actually work.”

 

The company also launched Cynoia Impact (https://apo-opa.co/4iBCIwO), partnering with key players in the entrepreneurial ecosystem including startups, accelerators, venture capital (VC) funds, and others, as well as educational organizations and non-profits. This initiative aims to accelerate the digital transformation of organizations making a positive impact in their communities.

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In a powerful intervention against digital exclusion, a UK-based Nigerian tech entrepreneur, Wale Atekoja, is rewriting the future of disadvantaged children in Lagos, one line of code at a time.

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A new report has shed light on the economic vulnerability of Nigerian households, showing significant disparities in poverty risk across the country’s six geopolitical zones. The data, compiled by the Global Multidimensional Poverty Index (GMPI) in collaboration with the Oxford Poverty and Human Development Initiative (OPHI) and published by Statisense, highlights the percentage of households in each region that are considered vulnerable to poverty in 2023.

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Nigeria’s leading tier-1 banks, commonly referred to as FUGAZ – comprising First Bank, UBA, GTBank, Access Holdings, and Zenith Bank – have reported their full-year 2024 financial results, revealing a year of significant profitability, robust asset growth, and varied levels of return on assets (RoA). The figures reflect strong resilience and performance amidst economic headwinds and changing monetary dynamics in the country.

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By Anthony Nwosu – Lagos

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