After the failure of their first startup, two tech entrepreneurs decided to embark on a new venture. They turned to financial technologies, a popular segment on the continent. Then Futa was born. 

Futa, a fintech solution developed by a Cameroonian startup based in Douala, enables users to send and receive money via mobile money, as well as pay for airtime and subscribe to telecom bundles. Founded in 2022 by Grace Jerolgan and Daniel Dang, the startup sees itself as more than just a payment app.

“Our goal is to build a modern bank for the modern African, enabling even a farmer in the remotest village to securely send and receive money, access loans, and even investment opportunities, with or without internet access,” the startup explains.

Currently, the app is available exclusively on Android, boasting over 5,000 downloads. For iOS users, access is provided through the web version of Futa. Users simply need to click on the ‘Install’ pop-up and follow the steps. This process installs a shortcut to the web app on the home screen, allowing users to use Futa just like any other app.

Once users register and create an account with their name, city, and phone number, they gain access to various services, including sending and receiving funds and purchasing plans. Notably, Futa enables users to manage multiple mobile money accounts from their dashboard. The fintech charges a fee ranging from 0 to 1.5%, depending on the type of transaction.

Futa reports having over 4,000 users, with more than 24,300 transactions processed through the app to date.

Adoni Conrad Quenum

The solution, launched by a Franco-Beninese tech entrepreneur, aims to improve pregnancy management across Africa.  

Mama Care, an e-health solution developed by the Franco-Ivorian startup Susu, offers pregnant women comprehensive medical support and practical advice throughout their pregnancy and the initial months of their baby’s life. The startup, headquartered in Lyon, France, and with regional offices in Abidjan (Côte d’Ivoire), Dakar (Senegal), and Douala (Cameroon), was established in 2019 by Franco-Beninese entrepreneur Bola Bardet.

To enhance its technology, broaden its services, and facilitate its continental expansion, Susu has completed several funding rounds. In March 2022, it raised $1 million, followed by an additional $4.5 million in December 2023. Commenting on this recent fundraising, Bardet stated, “Our mission is to democratize healthcare access across the entire African continent by offering innovative solutions for quality care and financing our beneficiaries’ health. […] This funding will enable us to continue our development and fulfill our ambition of transforming the daily lives of millions of Africans.”

Launched in July 2022, the Mama Care app is available on iOS and Android and has already been downloaded over 50,000 times on PlayStore. After installing the app, pregnant women need to create an account to access Mama Care’s various services. These services include ultrasounds, blood tests, consultations, comprehensive assessments, and home visits from midwives, along with personalized advice and information on nutrition and lifestyle.

“Mama Care covers all prenatal and postnatal consultations for the expectant mother, as well as her delivery, in collaboration with the top clinics and hospitals in Côte d’Ivoire,” the startup explains.

The platform offers three packages for its services. “Mama Light” starts at XOF5,000 (about $8) per month, “Mama Zen” at XOF20,000 per month, and “Mama Plus” at XOF60,000 per month. While the platform is available in Côte d’Ivoire, Senegal, and Cameroon, some services are not yet available in the latter two countries.

Adoni Conrad Quenum

With over 100,000 downloads of its Android app, this Nigerian fintech continues the journey it began in 2018 to enable access to various financial solutions. Its participation in Y Combinator in 2019 enabled it to access funding to develop its technology and support its growth.

CredPal is a fintech solution developed by a Nigerian startup that allows users to access a variety of financial services through its mobile app, including saving, investing, and a Buy Now, Pay Later (BNPL) option. Founded in Lagos in 2018 by Fehintolu Olaogun and Olorunfemi Jegede, the company raised $15 million in March 2022 to expand its offerings and support growth across the continent.

Discussing the funding round, Fehintolu Olaogun said, "We’ve built out a merchant suite to cater to those who have like full-fledged e-commerce websites to those with brick and mortar store and social commerce merchants. [...] Our tech allows consumers to be able to interface with CredPal across a wide range of channel."

In 2019, the fintech joined the Winter cohort of the California-based accelerator Y Combinator and has positioned itself in the Nigerian market by highlighting its BNPL offering. The aforementioned funding has facilitated the rollout of services in a niche segment of financial technology. Users create an account when they first log into the mobile app, which is available on both Android and iOS platforms. They must provide personal information to gain access to all the financial services offered by the fintech.

In addition to BNPL, CredPal offers savings accounts, virtual credit cards, and the "Credit Builder" program. This latter service helps customers combat a poor credit history by providing access to credit through investments. It allows clients to demonstrate their ability to repay debts on time, thereby improving their credit score and securing a brighter financial future.

Regarding the credit card, Fehintolu Olaogun mentioned that it was designed to increase the reach of the BNPL service. The savings feature allows users to accumulate points to qualify for increasingly significant credit lines. CredPal lends between 5,000 (about $4.34) and 500,000 nairas to its users based on their eligibility. They have between 30 and 180 days to repay the loan, after making a 30%  down payment. Interest rates range from 4% to 9%.

Adoni Conrad Quenum

The solution, launched by several tech entrepreneurs, aims to revolutionize the pharmaceutical supply chain. It is growing fast and intends to expand to several countries in Africa.

Egyptian startup Grinta has developed an e-health solution that allows pharmacies to replenish their medicine stocks via its web and mobile platforms. Founded in 2022 by Hamza Tag, Yosra Badr, Mohamed Azab, and Ali Youssef, the Cairo-based startup aims to become Africa’s leading wholesale platform for medicines, cosmetics, and medical supplies, serving as the primary intermediary between pharmaceutical laboratories and pharmacies.

To achieve its ambitions, Grinta has made several acquisitions of companies operating in its sector. Last August, it acquired Auto Cure, a business-to-business e-commerce platform serving independent pharmacists in Alexandria, bolstering its growth in this region. “The acquisition of Auto Cure underscores Grinta’s commitment to delivering value to its customers and expanding its presence in the Egyptian market,” said Mohamed Azab.

Grinta’s mobile application, available on iOS and Android, requires pharmacies to create an account to access its supply chain. They can replenish their supplies via digital distributors, manage their stocks and sales, access educational content, and arrange financing or loans. “We empower our customers to purchase the pharmaceuticals and supplies they need and provide them with tools to manage their working capital and inventory through an easy-to-use and inclusive platform, enabling them to prioritize patient care,” the startup explains.

Beyond Egypt, the e-health platform, which claims to have served over 7,000 pharmacies and delivered more than 200,000 orders by August 2023, is also operational in Tanzania. With ambitions for expansion, the Android version of its mobile application has been downloaded more than 10,000 times, according to the Play Store.

Adoni Conrad Quenum