The Africa Stablecoin Consortium (ASC), a coalition of Nigerian banks and fintechs, announced it has postponed the launch of its cNGN stablecoin, originally slated for February 27.
"...We are engaging with the appropriate regulatory bodies, including the Central Bank of Nigeria, to participate in its regulatory sandbox program. Our goal is to showcase the potential benefits of the cNGN ecosystem, providing a secure, transparent, interoperable, and innovative solution for digital asset transactions in Nigeria," the ASC said in a statement.
Confronted with the challenge of high international export costs faced by African firms, Matthew Davey established TUNL as a solution.
South African entrepreneur Matthew Davey (photo), a University of Cape Town Civil Engineering graduate and Oxford University Geography and Environment PhD holder, is the co-founder of startup TUNL. Established in 2020 by Davey and COO Craig Lowman, TUNL aims to address export challenges for African manufacturers, designers, and retailers. The platform provides express courier options with global carriers to nearly all countries and has introduced TUNL Economy, a cost-effective export courier service from Africa.
Davey stated in December 2023 that cross-border shipping in Africa leads to an estimated annual business loss of $50 billion. Despite the presence of major carriers, high-quality products like textiles and camera accessories can be priced out of the market due to steep shipping costs. TUNL partners with these carriers, such as UPS and FedEx, to negotiate favorable rates and offer significant savings to merchants, with SMEs saving up to 50-75%.
In December 2023, TUNL secured $1 million in pre-seed financing from investors including Founders Factory, Digital Africa Ventures, E4E Africa, and Jozi Angels. This funding will facilitate the company's continued expansion in South Africa and preparation for entry into other African and emerging markets.
Before founding TUNL, Davey worked as a civil engineer for Jones & Wagener, a specialist engineering and scientific consultancy in South Africa, between 2013 and 2014. He served as an analyst with Sustainia, a consulting firm for companies and organizations, from January to June 2017. From August of the same year to February 2021, he was the managing director of Vesconite Bearings, a polymer bushings and wear materials manufacturer.
Melchior Koba
Morocco has stepped up efforts to modernize its government services through digitalization, launching several initiatives aimed at increasing service efficiency and promoting citizen participation through online channels.
Morocco has digitized over 600 public services, with a focus on improving access for citizens and businesses, Digital Transition and Administrative Reform Minister Ghita Mezzour (photo) announced on Monday.
Of the digitized services, 300 are dedicated to citizens, 200 to businesses, and 100 to public administrations, Mezzour told the House of Representatives. She emphasized the government's commitment to completing ongoing digital projects encompassing public service management, administrative reform, online content regulation, and support for emerging businesses, all part of the national digital strategy.
Morocco's new digital strategy, "Maroc Digital 2030," currently undergoing approval, is built on two pillars: complete digitization of public services and stimulating the digital economy. It aims to create 300,000 jobs and contribute $17 billion (170 billion dirhams) to GDP by 2030.
To achieve these goals, the strategy proposes a range of initiatives, including labeling 3,000 startups, a significant increase from the 380 registered in 2022 ; qualifying 45,000 digital talents annually ; retraining 50,000 young people in digital professions and attracting 6,000 foreign digital talents each year.
With full service digitization, Morocco aims to climb from its current 113th position to the top 50 in the UN e-governance rankings. The country aspires to be a major player in the digital economy, driving job creation, economic growth, and improving citizens' lives through accessible and innovative public services.
Samira Njoya
The Meltwater Entrepreneurial School of Technology (MEST) has launched applications for its 12-month training program aimed at helping aspiring tech entrepreneurs in Africa turn their ideas into successful startups. The deadline for applications is March 18, 2024. More details about the program and the application process can be found here.
With a goal to democratize investment in Africa, an innovative entrepreneur has integrated finance and technology to ease access to African markets.
Cameroonian tech entrepreneur Boum III Jr (photo), co-founder and CEO of fintech startup Daba, is on a mission to democratize investment in Africa. A graduate of Southern Polytechnic State University with a bachelor’s degree in computer science, Boum III Jr earned an MBA from HEC Paris and an entrepreneurship-focused MBA from The University of Chicago Booth School of Business in 2021.
Daba, established in 2021 by Boum III Jr and Anthony Miclet, provides a unified investment platform aimed at facilitating high-quality investments in Africa for individuals and companies. With offices in the USA and Côte d’Ivoire, the company offers a more transparent, accessible, and efficient investment process.
In a 2022 interview, Boum III Jr outlined Daba’s ambitions, stating, “In the next five years, I envision Daba being the premier destination for any investor, whether an individual or an institutional investor when they want to start or manage their investments on the African continent.” He expressed a desire for Daba to have a significant presence in key African markets such as Kenya, Nigeria, Ghana, and South Africa, as well as emerging economies like Côte d’Ivoire and Senegal.
In addition to Daba, Boum III Jr founded Mbo’Wam in Atlanta in 2017, a platform offering hotel-style accommodations in apartments and private residences, primarily for business travellers. In 2020, He also co-founded Afrika Startup Lab, a non-profit organization supporting potential entrepreneurs.
Boum III Jr worked as a software engineer at Nasdaq eVestment, a Nasdaq division providing institutional investment data, analysis, and information on public and private markets, from 2015 to 2019. In 2022, he won the AFRICON pitch competition, earning a $10,000 prize.
Melchior Koba
Kenya's ambitious Konza Technopolis project seeks to establish the East African nation as a leader in technology and innovation across the continent.
Kenya's Konza Technopolis, a sprawling project aiming to transform into a smart city, is betting on information technology (ICT) and innovation to propel the country to the forefront of Africa's tech scene.
Launched in 2012, the project has become a cornerstone of Kenya's Vision 2030 national development plan, with the government backing its development in partnership with the World Bank's International Finance Corporation.
It is led by John Paul Okwiri, a seasoned procurement and supply chain executive, through the Konza Technopolis Development Authority (KoTDA).
The project envisions a world-class city powered by a thriving ICT sector, robust infrastructure, and investor-friendly policies. It aims to attract businesses in outsourcing, software development, data centers, disaster recovery, call centers, manufacturing, and light assembly.
Konza Technopolis also fosters innovation through initiatives like the Jitume program, which equips young people with digital skills and access to services to leverage technology for job creation. In 2024, it will host the 41st world conference of IASP, a global network of innovation ecosystems.
The project has already generated 17,000 jobs and hosted events like the 2020 Africa Digital Influencer Awards (ADIA20). It was also recognized for excellence in smart city development at the 2023 Africa Public Sector Conference and Awards (APSCA).
Melchior Koba
Local authorities are encouraging smartphone manufacturers to shift a portion of their production to their region, a move aimed at boosting smartphone usage by reducing prices.
Uganda’s Minister of ICT and National Orientation, Chris Baryomunsi, has called on smartphone manufacturers to establish production facilities in Uganda, a move aimed at boosting smartphone penetration in the country. The invitation was extended during the launch of a 5G smartphone model by Tecno, in collaboration with a local mobile operator, in Kampala on Friday, January 12.
Baryomunsi highlighted the benefits for smartphone manufacturers investing in Uganda, citing the growing demand in a market of 50 million people. Furthermore, he suggested that Uganda could serve as a gateway to the African continent and its 1.4 billion population.
The minister expressed the government’s support for technological innovation, stating, “We support the innovation and the government has deliberately promoted the policy of legalizing communications and airwaves. So far, we have since moved from traditional means of communication and have created space for innovations and technologies in Uganda so that we move with the rest of the world in this era of digital transformation. Continue making the innovations and technologies and we are ready to embrace all these cutting-edge technologies including these devices.”
The call for multinational smartphone manufacturers to establish assembly plants in Africa is becoming increasingly common. The goal is not only to create local jobs but also to reduce smartphone costs and increase affordability for the population.
In line with this trend, Kenya commissioned a smartphone assembly plant last October. The plant is expected to produce between 1.2 and 1.4 million smartphones annually, with retail cost at 7,500 Kenyan shillings ($46.58). Earlier that year, Angola signed a memorandum of understanding with China’s ZTE to establish a mobile phone factory, set to be operational this year.
It’s worth noting that, according to DataReportal, Uganda is projected to have 30.55 million active mobile subscriptions in 2023, accounting for 63.8% of the total population.
Adoni Conrad Quenum
While the digital economy booms elsewhere, the Central African Republic (CAR) faces a persistent challenge in bridging its own digital divide. Yet, amidst ongoing national struggles, the government is actively taking steps to equip young people with the digital skills they need to thrive in the global job market.
In a significant push towards a digital future, President Faustin Archange Touadéra of the Central African Republic (CAR) inaugurated a state-of-the-art digital training center and incubator at the University of Bangui on Monday, January 15. This launch coincided with the official nationwide rollout of broadband internet for the first time in the country.
Financed jointly by the European Union and the African Development Bank (ADB), the center aims to equip young people with the skills and tools to drive the creation of jobs and economic diversification through the burgeoning digital sector.
"This center marks a new chapter for fiber optic development in the Central African Republic. Its completion paves the way for high-speed internet access and positions CAR to become a smart nation, recognizing that internet access is a cornerstone of national development," stated the Prime Minister’s office.
The initiative forms part of CAR's national fiber optic backbone project, a key component of the broader Central African Backbone (CAB) program. Alongside the training center, the project encompasses a cybersecurity and electronic certification platform as well as technical assistance for the Ministry of Digital Economy, Posts and Telecommunications in establishing the Central African Digital Development Agency, which will spearhead the nation's digital strategy implementation.
The new center boasts cutting-edge equipment, including a training room, technical facilities, offices, an incubator, a database processing lab, and more. This infrastructure will empower young Central Africans to design, develop, and market digital products addressing the population's needs.
Samira Njoya
Universities around the world are rapidly accelerating their transition to digital education, driven by the urgent need to prepare students for a job market increasingly reliant on digital skills and qualifications. This shift necessitates the adoption of new technologies and pedagogies that go beyond simply replicating traditional classroom experiences online.
In Côte d’Ivoire, Minister of Higher Education and Scientific Research Adama Diawara, officially presented 16 mobile studios for recording digital teaching resources to the country’s public universities and grandes écoles.
Valued at XOF275 million ($458,125), these acquisitions aim to foster an environment conducive to integrating digital technology into the education system. “Digital technology is a powerful lever of transformation to support public education policies in all their dimensions,” Diawara stated.
The initiative is part of the AMRUGE-CI n°2 project, which seeks to stimulate the development of digital education. Mobile studios will be delivered to all the country’s universities to reinforce flexible educational production and digital documentation.
Since 2013, the government has collaborated with the French Development Agency (AFD), which has mobilized over XOF10 billion for the development of digital education in Côte d’Ivoire through the Debt Reduction-Development Contract (C2D).
By digitizing the education system, the Ministry aims to renovate the higher education offering to better meet job market demands, guarantee education quality, and comply with international standards.
The first beneficiaries include the Universities of Félix Houphouët-Boigny in Cocody, Nangui Abrogoua in Abobo-Adjamé, Alassane Ouattara in Bouaké, Jean Lorougnon Guédé in Daloa, Péléforo Gon in Korhogo, Man, Bondoukou, San Pedro, the Université Virtuelle de Côte d’Ivoire, the Ecole Normale Supérieure in Abidjan, and the Institut National Polytechnique Félix Houphouët-Boigny in Yamoussoukro.
Samira Njoya
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Algeria's digital transformation gained momentum in 2023, with the government implementing several programs. For the new year, the country prioritizes e-governance initiatives.
Algeria's state-run Haut-Commissariat à la Numérisation (HCN), the agency leading the nation's digital transformation, signed a memorandum of understanding (MoU) with Huawei Telecommunications' Algerian subsidiary on January 10.
The agreement, signed by HCN High Commissioner Meriem Benmouloud and Huawei Algeria's Chairman and CEO Eason Yi, aims to boost cooperation in key areas including experience exchange, training, and skills development as well as strategic support.
It sets the stage for collaborative knowledge sharing and best practices in the field of digital transformation while providing the framework for both parties to focus on equipping Algerian professionals with the necessary skills to drive the country's digital agenda. Also, in its framework, Huawei will contribute its expertise to the development of Algeria's 2024-2029 national digital transformation strategy, currently spearheaded by the HCN.
This partnership aligns with the HCN's mission of overseeing and guiding Algeria's digital transition. Established just months ago, the agency is tasked with managing strategic projects like the upcoming draft bill on digitization, slated for completion in the first quarter of 2024.
Samira Njoya
An impact entrepreneur, he has developed an application offering goods and services on credit, as part of his broader efforts to design technological solutions that simplify life for his compatriots.
Rwandan social impact entrepreneur Ignace Turatsinze, co-founder and co-CEO of PayingTone, has developed a marketplace that offers credit for products and services. A business administration graduate from Jomo Kenyatta University of Agriculture and Technology, Turatsinze launched PayingTone with Brenda Munezero in 2021 to facilitate retail access across Africa.
“We provide up to 200,000 RWF [approximately 143 euros], but only up to a third of the user’s income. Once the credit is in the PayingTone wallet, it can be spent with any of our network of merchants. We charge five percent interest,” Turatsinze explained in 2022.
In addition to PayingTone, in 2018, Turatsinze founded Netot Lab, a startup providing an electronic device for monitoring and managing LPGs, payment assistance for services, and a microcredit service.
Turatsinze’s career began in 2016 at New Media Communications of Rwanda as a marketing and public relations specialist. He later joined Women for Women International as a monitoring and evaluation consultant in 2017 and became the project coordinator of LEAPR Labs in 2018. In 2020, he was hired by i4SD as a program manager, and in 2021, he joined Spenn Technology as Head of Spenn Connect.
Turatsinze’s PayingTone participated in CcHub’s fintech incubation program and won second prize at the HangaPitch Fest in December 2022.
Melchior Koba
Nigeria is easing regulations for internet service providers (ISPs) in a bid to connect more of its vast population to the internet. This move comes as a major American player strengthens its hold on the market through a partnership with a local provider.
US internet service provider (ISP) Parallel Wireless is teaming up with Nigeria's Hotspot Network Limited to bring connectivity to 500 rural areas, the companies announced last week.
The partnership, announced last week, aims to improve the quality of life for millions by enabling access to essential services like healthcare, education, and finance in underserved regions. The project will leverage both 2G and 4G technologies "to connect as many residents as possible," said Yisrael Nov, Parallel Wireless' executive vice president of worldwide sales.
The initiative aligns with Nigeria's broader ambitions for digital transformation. As one of Africa's most mature tech ecosystems, the country aims to bridge the digital divide and maximize the impact of its technology policies. President Bola Tinubu's administration has set an ambitious target of connecting 70% of the population to broadband by 2025.
With a population of over 220 million, Nigeria boasts the largest consumer market in Africa. However, internet penetration remains uneven, with rural areas significantly lagging behind urban centers. As of 2023, only 55.3% of Nigerians had internet access, according to data from DataReportal.
Adoni Conrad Quenum
Through its training courses, activities, and programs, Bamako Incubateur supports young entrepreneurs in realizing innovative projects and creating diversified services in various digital sectors.
Bamako Incubateur, a startup incubator and accelerator project for young innovative companies, was launched in 2016 as an initiative of the Mali@venir community created by the NGO Groupe Eureka. The incubator aims to foster entrepreneurship and generate youth-led solutions to Mali’s challenges, providing a unique ecosystem of resources, inspiration, and collaborative opportunities for creative young Malians.
The activities of Bamako Incubateur encompass several areas. It promotes digital technology among children, women, and young people in urban and rural areas, as well as among the diaspora and migrants. It also facilitates the integration of digital technology in developing sectors, identifies and simplifies the creation of digital solutions, promotes youth employability, and offers financing opportunities for digital start-ups.
Bamako Incubateur provides training in JAVA programming technologies for young people, with the goal of training 10,000 developers over a decade. One of its notable programs, “GENESIS Startups MALI”, launched in 2017, equips young graduates with practical skills to significantly enhance their employability and success in the job market in the growth sectors of science, innovation, and entrepreneurship.
In 2018, the incubator launched a program, SENECIS, to support digital entrepreneurship, innovation, and the competitiveness of incubators and start-ups in Mali. This eight-month program teaches young students who have graduated or are about to graduate the fundamentals of entrepreneurship in the digital economy.
Bamako Incubateur has incubated several startups, including So-Dôkôtôrô, a Malian platform specializing in homecare services; BioBanque, a biotech start-up offering a computerized blood management system from donation to patient transfusion; and AgroMaliMarket, a web and mobile platform that connects agricultural producers with buyers.
Melchior Koba