Nam Mokwunye's online and mobile social video marketplace has one sole aim: to capitalise on the creativity and cachet of the $5.1bn Nollywood market, and take Nigerian content global.

The Nairobi-based Savannah Fund has accepted three more tech startups into its accelerator class. The latest entrants, Zevan Limited from Kenya, Ghana's BIGxGh and Nigeria's UniSmart, take the tally of supported companies to 13 in just a few years.

African economic growth is expected to rise to 4.7% this year, but there are concerns that the US Federal Reserve's exit from quantitative easing will stem the capital inflow required to sustain this level of growth. Innovative startup MYC4, co-founded by Mads Kjær (one of Denmark's most successful entrepreneurs), is emphatically addressing these concerns.

In an effort to empower the next generation of entrepreneurs and developers in Africa, Microsoft is offering financial support to five of the continent's brightest startups. Under the 4Afrika initiative, the American Goliath will act as both financial backer and entrepreneurial mentor to a fortunate handful of David enterprises.

In a drive to bridge the gap between startups and corporations with market dominance in Africa, LeadPath Nigeria is hoping to corner the Nigerian seed capital market with its innovative new offering. The investor unveiled its new $1.5 million accelerator fund and startup workshop in front of hundreds of investors, entrepreneurs and developers at a recent convention in Lagos, paving the way for a deluge of investments.

Nigerian start-up MyMUSIC may be a fledgling company, but its certainly not short on ambition. Aiming to become the iTunes of its continent, its software plans to unite music enthusiasts in Africa with the artists they love by introducing easily accessible mobile downloads. Due to launch in public beta within a few weeks, the MyMUSIC app will charge around $0.33 per song.

African Tech Investors 88mph and L5Lab Partner to Accelerate Nigerian Mobile Start-Ups. The 440 accelerator, a joint venture between African seed investment companies 88mph and L5Lab, is set to invest a minimum of US$1.5 million in mobile and internet startups in Nigeria over two years, starting from September 1.

Funding for tech-start-ups doesn’t really exist in Nigeria. The banks tend not to lend to those who aren’t wealthy already and even for those that do, interest rates are prohibitively high. Without private investment, you almost certainly will not be able to start up your own internet company; the vast majority of young people cannot even afford a decent internet connection for themselves, let alone enough bandwidth to power an office.