Brief_simple (559)
The Bank of Uganda has granted Tanzanian fintech NALA an International Money Transfer Operator (IMTO) license, the fintech announced on August 29. This allows NALA to expand its operations in Uganda by integrating directly with mobile money services, offering users a seamless way to transfer funds into local mobile wallets and enhancing the efficiency and security of cross-border payments.
NALA facilitates money transfers from the UK, US, and EU to several African countries, including Uganda. It has collaborated closely with the Bank of Uganda to meet regulatory requirements, contributing to an increase in foreign exchange supply, which is vital for economic growth.
Proparco has provided a €400,000 loan to Rubyx, an African start-up, through the Bridge by Digital Africa facility. This funding will help Rubyx rapidly expand its algorithmic loan offering for start-ups and microfinance institutions across Africa.
The Bridge by Digital Africa facility, backed by Digital Africa and managed by Proparco, offers bridging finance to young African companies to support their growth between funding rounds.
This investment aims to boost access to loan products for African Very Small Enterprises (VSEs) and Small and Medium-sized Enterprises (SMEs), supporting financial inclusion efforts on the continent.
Konga, a leading Nigerian online marketplace, has announced a strategic partnership with Starlink to provide satellite internet services to underserved areas across the country. This collaboration is aimed at bridging the digital divide by delivering reliable, high-speed internet connectivity to regions with limited or no terrestrial internet coverage.
As the only authorized shop-in-shop for Starlink in Nigeria, Konga is enthusiastic about the potential impact of this partnership. Through their partnership, Konga and Starlink are playing a pivotal role in ensuring that all Nigerians can benefit from the transformative power of the internet.
Ghanaian fintech startup PayBox has launched a mobile application that leverages blockchain technology and artificial intelligence (AI) to reduce transaction fees and simplify cross-border payments.
The application, Buddy, offers streamlined financial solutions for small and medium-sized enterprises (SMEs) across more than 23 African countries.
By functioning as both a mobile and decentralized app, Buddy offers a user-friendly interface, empowering users to manage their personal and business finances with ease.
MEST Africa is inviting emerging tech entrepreneurs to participate in the MEST Africa Challenge (MAC) 2024. As Africa’s premier pitch competition, MAC 2024 will focus on agri-tech startups in West Africa.
The winning startup will receive investment capital, coaching, and access to a global network of resources. Applications open on August 26, 2024, and close on October 4, 2024, with virtual semifinals scheduled for October 29-30, 2024.
Eligible startups must have a minimum monthly revenue of $5,000, raised less than $1 million in funding, and have been operating for three years or less. All participants will pitch in English.
Educational technology company Schoolap, based in the Democratic Republic of Congo, has expanded into Kenya to grow its presence in Anglophone Africa. The move follows its success in Francophone markets, including the Democratic Republic of Congo and Côte d'Ivoire.
The platform, which offers digital curriculum management, interactive learning tools, and performance tracking, aims to address educational gaps and support Kenya's efforts to integrate technology into its education system.
Coding academy CodeNgwana has partnered with the Matlhogonolo Community Outreach Centre to provide coding and computational thinking skills to 700 young learners in Soweto.
The initiative, launching in September, aligns with the Department of Basic Education’s (DBE) new curriculum, which includes coding and robotics for grades R-9.
CodeNgwana aims to make technology education accessible to all African children. The partnership will offer workshops at the Matlhogonolo Centre, focusing on both student programs and teacher training to ensure effective curriculum delivery.
Lucky, an Egyptian fintech startup, has secured a US$3 million in a funding round led by Lorax Capital Partners, KEM, DisrupTech Ventures, and other existing investors.
The newly raised funds will be strategically allocated to expand Lucky's credit services, reinforcing its position as a leading consumer credit fintech in Egypt.
Lucky offers financial flexibility and increased spending power through its lending schemes, discounts, and cashbacks.
Huawei South Africa is inviting tech-savvy women entrepreneurs to apply for its Huawei Women in Tech Digital Skill Training Program. This initiative, offered in partnership with the Department of Communications and Digital Technologies, focuses on enhancing skills in 5G, Cloud, and Artificial Intelligence (AI).
The program aims to empower women by providing advanced training in these critical technology areas. Interested applicants should be available to travel to the Huawei Office Park and Henley Business School Africa in Johannesburg between August 22 to August 28 for the training.
The Independent Communications Authority of South Africa (ICASA) has unveiled draft regulations for satellite services, encompassing SpaceX's Starlink. The proposed rules aim to establish a new licensing framework and address the challenges of low-earth orbit (LEO) satellites.
The draft regulations cover authorization for satellite user terminals, Internet of Things (IoT) devices, and spectrum management. ICASA is seeking public comments on the proposal by November 12, 2024, with feedback to be published online by November 30, 2024.
More...
The Africa Fintech Summit (AFTS) has opened nominations for the 2024 Excellence in Fintech Awards. Since its inception in 2018, this event has consistently brought together key players in Africa's fintech ecosystem. This year's edition will take place in Nairobi, Kenya, from Wednesday, September 4, to Friday, September 6. The public is encouraged to nominate startups and prominent figures within the ecosystem across various categories.
The 27th Africa Tech Festival, scheduled for November 12-14, 2024, in Cape Town, is set to shine a spotlight on the significant contributions of women in Africa’s tech and telecom sectors. This year’s festival will feature prominent female leaders such as Funke Opeke, CEO of MainOne, and Mary Mahuma, CIO of Philip Morris, who will share their insights on the future of the industry.
The event, which includes AfricaCom and The AI Summit Cape Town, is expected to attract over 15,000 attendees. Organizers are emphasizing the festival’s role in promoting inclusivity and mentorship within the tech community. A highlight of the festival will be the InspiringFifty Africa awards, which recognize the top women in tech across the continent.
Kenyan digital insurance platform mTek has partnered with BuuPass, a Kenyan Transportation platform, to provide integrated travel insurance. This partnership allows customers to easily select and purchase insurance while booking tickets on BuuPass, enhancing convenience and safety.
The move aims to enhance travel experience by providing additional safety and financial protection, allowing travelers to feel more secure and confident during their trips.
Egyptian AI startup Synapse Analytics has secured $2 million in new investment to expand its AI-powered solutions across the Gulf Cooperation Council (GCC) and Africa, focusing on the financial sector. The investment was led by venture capital firm Silicon Badia and Hub 71, Abu Dhabi.
Synapse Analytics partners with Amazon Web Services (AWS) and Crealogix, offering digital banking and application processing software. As part of Hub71, the company addresses financial inclusion by offering AI software for credit scoring, cross-selling, dynamic pricing, and eKYC/eKYB processes.