According to its co-founder, Ruddy Mukwamu, MaxiCash was inspired by the Apple ecosystem.
MaxiCash, a fintech solution developed by a Congolese startup, is enabling Africans in the diaspora to make payments, transfer money internationally, and pay for various goods and services. The startup, launched in 2016 by Ruddy Mukwamu, is based in Kinshasa, Democratic Republic of Congo, and Johannesburg, South Africa.
“We combined our experience in tech and digital to help communities use technology to foster financial inclusion,” Mukwamu said.
The MaxiCash mobile application, available on iOS and Android, allows users to create an account and access various fintech services. Users can send money internationally, make payments, and shop online in partnership with MaxiCash. The application includes a digital wallet, which can be topped up using various digital payment methods, including bank cards.
MaxiCash also offers Visa bank cards for online payments and receiving international payments. The start-up provides a payment gateway for businesses, enabling those involved in online commerce to integrate MaxiCash’s payment solution to facilitate their financial transactions. According to the Play Store, the application has been downloaded more than 10,000 times.
Adoni Conrad Quenum
During the tenure of Macky Sall, which commenced in 2012, the digital sector emerged as a crucial catalyst for the acceleration and socio-economic development of the country. His successor aims to exceed these accomplishments in the next five years.
Senegal’s newly elected President, Bassirou Diomaye Faye (photo), has outlined plans to accelerate the country’s digital transformation, a process initiated by his predecessor, Macky Sall. Faye, who was elected on Sunday, March 24, sees digital technology as a catalyst for Senegal’s development.
He announced plans to establish a National Fund for the Development of Research and Innovation (FNDRI) within five years. This fund, which will replace the existing Fund to Promote Scientific and Technical Research (FIRST), will finance startups and research and innovation (R&I) initiatives.
The new administration aims to create an incentivized and secure framework for digital entrepreneurship. The goal is to foster a high-performance national ecosystem that can meet the demand for digital products and services across various sectors of the national economy.
Faye also expressed concern about the impact of digitizing public services on the population. He announced plans for a digitized, high-performance public administration capable of meeting the challenges of the new economy. This includes building sovereign data centers, both public and private, with high-speed internet connectivity and lower hosting charges to consolidate state and local business data.
In the education sector, a national priority, the new President plans to reform the licensing system and establish a monitoring system for private higher education institutions. He also plans to support the development of the Cheikh Amidou Kane digital university, strengthen online course platforms in other public universities, and construct technological universities.
Recognizing that these projects depend on good internet connectivity, the new government plans to ensure internet access throughout Senegal. According to a second-quarter report by the Autorité de Régulation des Télécommunications et des Postes (ARTP), the current penetration rate of broadband internet (3G/4G) is 89.56%.
The primary goal of the investment package announced by the Head of State is to make Senegal a benchmark for digital transformation on the continent by 2029. The digital sector, thriving on constant technological innovation, is one of Senegal’s main drivers of development, contributing over 10% to GDP growth.
Samira Njoya
Zimbabwe wants to join the technological revolution ongoing on the African continent. For that purpose, it seeks strategic partners to support the development of its tech sector.
Zimbabwe’s government has sought the support of the United Nations Conference on Trade and Development (UNCTAD) to bolster its digital economy, according to Douglas Runyowa, Chief of Staff at the Ministry of Industry and Trade.
Runyowa announced the appeal for UNCTAD’s assistance in conducting an eTrade readiness assessment to identify opportunities and solutions for ecommerce development. This request aligns with Zimbabwe’s efforts to expedite its digital transformation under President Emmerson Mnangagwa’s “Vision 2030”. The strategic plan aims to transform Zimbabwe into a high-income society by 2030, with digital technology as a key pillar of socio-economic development.
The International Finance Corporation (IFC) and Google project that Africa’s digital economy will be worth at least $712 billion by 2050, accounting for 8.5% of the continent’s GDP. Recognizing its current lag in the sector, Harare is intensifying its partnerships to leverage the ongoing technological revolution in Africa.
"The key areas include e-commerce assessment and policy formulation, information communication technology (ICT) infrastructure and services, payment solutions, trade facilitation and logistics, legal, regulatory framework, digital skills development and access to finance," added Douglas Runyowa.
In recent years, African countries have accelerated the digitization of government services. The aim is to improve administrative efficiency and data management as well as improve citizens’ lives.
The government of Cape Verde plans to digitize 60% of essential public services by 2026, according to Carlos Tavares Pina, CEO of the government’s digital agency, Nucleo Operacional da Sociedade de Informacao (NOSi).
According to Pina, the digitization initiative aims to foster transparent governance by improving access to information, securing digital infrastructures, and enhancing digital literacy. The move is part of the Digital Governance Strategy, a component of Cape Verde’s broader Digital Strategy.
The strategy includes modernizing all public services, such as online certificate issuance (birth, marriage, adoption, death, criminal records, company name registration), electronic payment, tax identification number issuance, state debt certificates, and income certificates for children’s study grants.
To achieve these goals, the government is relying on its digital agency, NOSi. The agency is increasing partnerships with global technology companies like Huawei and Microsoft and collaborating with countries with similar projects.
The ultimate goal is to have at least 30% of public administration processes running on AI or ML (machine learning) technologies and to use cloud technologies to enhance platform interoperability.
The digitization of public services in Cape Verde is expected to drive digital transformation, stimulate the country’s business environment, and boost national GDP. These services will also provide a centralized information point for citizens.
Samira Njoya
Digital Lab, a Libyan initiative fostering innovation and digital transformation, unveiled an innovation mapping platform in Tripoli on Monday. The platform aims to link innovators, entrepreneurs, researchers, and investors nationwide.
Abdelbaset Albaor, Chairman of the General Information Authority, said the platform “reflects the collaborative efforts of the General Information Authority, Libyan institutions, and [...] international partners.”
“It showcases the major initiatives underway, laying the foundations for a thriving and innovative digital ecosystem to take root in Libya,” he added.
Africa's tech sector has seen rapid growth in the past decade. This led to a surge in the number of investment vehicles to support its expansion.
Anava, a Tunisian fund of funds, announced on Monday its €4 million ($4.4 million) investment in Janngo Capital Startup Fund (JCSF), a fund focusing on African technology. Anava, a €60 million ($66 million) fund, is financed by the World Bank, Caisse des Dépôts et Consignations, and KFW.
The investment aims to support approximately 25 seed-stage startups in healthtech, fintech, and edtech sectors across French-speaking Africa. The goal is to enhance market and capital access for African businesses, create sustainable jobs at scale, and prioritize women and youth.
Fatoumata Bâ, founder and executive chairman of Janngo Capital, said the investment would directly contribute to unlocking massive growth and positive economic, social, and environmental impact in Tunisia and beyond.
The investment comes amid a decline in funding for Africa’s technology sector. In 2023, startups on the continent attracted less capital than in 2022. According to the United Nations Development Programme, 89% of the venture capital in Africa’s tech ecosystem is foreign. Several African funds have been launched this year to improve startups’ access to finance.
In 2023, African startups raised $1.8 billion, a 40% decrease from the $3 billion raised in 2022.
Adoni Conrad Quenum
Artificial intelligence and robotics sectors are steadily making inroads in Africa. In Cameroon, serial entrepreneur Jacques Eone leads the charge to popularise these emerging technologies.
Jacques Eone (photo), a Cameroonian serial entrepreneur, is the co-founder and CEO of Sparte Robotics. His company, established in 2021, aims to popularise robotics, science, and engineering by providing services that enhance and simplify daily life for its customers.
Sparte Robotics specializes in supplying robotic instruments, particularly drones, and security solutions to businesses and individuals. The company aims to automate services in various sectors, including security, mapping, and industrial production. It is also a research and development center for robotics and artificial intelligence.
To encourage African governments, donors, and local businesses to invest more in robotics and AI in Africa, Sparte Robotics launched the Elviatech competition in 2023. The competition brings together teams from several countries to exchange skills and build robotic instruments specific to a particular theme, Eone explained.
In addition to his role at Sparte Robotics, Eone is the president of the Cameroon Robotics Association, which he founded in 2018 to demystify robotics in Africa. The association organizes free training courses for college and school students.
Eone is also a founding partner of CENTHORUS Corporation, a Cameroonian software engineering company, and the founder of Alkacun, an e-commerce platform established in 2021. Alkacun offers various purchasing options, from simple distribution to auctions.
Melchior Koba
The inaugural Algerian Digital Summit is set to take place from April 23 to 25, 2024, at the Moufdi Zakaria Cultural Center in Algiers. The event, announced on March 20, is born from the consolidation of the Digital African Summit and ICT Maghreb.
Tunisian authorities announced on Monday, March 25, the official adoption of online birth certificates for administrative procedures related to the Ministry of the Interior’s services. This provision extends to Tunisians living abroad, who can now use these online birth certificates for applications or renewals of national identity cards and passports.
Focused on promoting knowledge-based businesses, Nice Innovation Incubation Center is committed to fostering a culture of innovation and equity, with the ambition of turning bright ideas into tangible successes.
Established in 2018, the Nice Innovation Incubation Center is an innovation hub aimed at addressing the technological development gap in Ethiopia. The center’s vision is to cultivate an incubation and innovation ecosystem that nurtures knowledge-based businesses.
Its mission is to foster an innovative culture within the university environment and to establish a work culture grounded in fairness, equality, and performance. The center is committed to training bright minds for excellence in science, technology, fine arts, and the creation of marketable interdisciplinary knowledge.
The center’s areas of interest span a wide range of fields, including artificial intelligence, quantum computing, virtual, augmented, and mixed reality, cybersecurity, robotics, the Internet of Things, Industry 4.0, blockchain, advanced materials, drones, biotechnology, and more. Headquartered in Addis Ababa, the center also operates in Nairobi, Kenya, and has plans for expansion into other East African countries.
It collaborates with and invites technical and marketing experts for training, coaching, and mentoring programs. It also builds partnerships with local industrial companies and offers infrastructure consultancy and investment support.
Through its incubation program, the Nice Innovation Incubation Center welcomes technical or business ideas from students and emerging entrepreneurs. It provides support throughout the process, from planning to prototyping, to help turn their ideas into reality and bring them to market.
For each project that is successfully incubated, the center facilitates the prototyping process. It liaises with banks and public bodies to secure startup loans for the continued support of products and startups.
Melchior Koba
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On March 20, the Egyptian Space Agency (ESA) and the Chinese Space Administration (CASC) signed a protocol agreement in Cairo for the operation of the EgyptSat-2 satellite. The agreement includes provisions for CASC's support in the peaceful utilization of space and the promotion of sustainable development in Egypt.
IFC's equity investment indirectly supports the least financed African startups. This comes amid a 36% plunge in funding raised by African startups in 2023, to $3.2 billion.
International Finance Corporation (IFC) disclosed yesterday, a $10.5 million investment in the 4DX Ventures fund, which supports African tech companies. This investment was facilitated by a new platform launched by the IFC in November 2022, designed to bolster venture capital ecosystems in Africa, the Middle East, Central Asia, and Pakistan.
“By supporting the development of tech ecosystems in emerging markets, IFC's venture capital platform aims to improve access to key services, boost business competitiveness, and promote job creation through digital transformation,” stated Mohamed Gouled, IFC’s Vice President of Industries.
The investment in the 4DX Ventures fund aligns with IFC’s commitment to backing tech entrepreneurs whose innovations are poised to propel Africa forward in key sectors such as climate, healthcare, fintech, e-commerce, and education.
This move comes amid a 36% decrease in fundraising by African startups in 2023, dropping to $3.2 billion, according to research firm TechCabal Insights. IFC data indicates that Africa is among the regions least served by venture capital, receiving a mere 2% of the global venture capital deal volume in the third quarter of 2023.
This investment is expected to provide further support to African startups, aiding promising tech startups in building transformative businesses and making a lasting impact on the continent’s development.
Samira Njoya
Introduced to technology at the tender age of 7, she quickly made her mark in her country's tech companies just three years later. She now dedicates her time to educating children and young adults about technology, fostering innovation and entrepreneurship among the next generation.
Betelhem Dessie (photo), an Ethiopian computer scientist and entrepreneur, serves as the co-founder and CEO of iCog Anyone Can Code. This initiative, which aims to provide children and young people with tech skills, was established as a company in 2020, following its inception as an initiative in 2016. Its mission is to democratize access to technology and tech education. Through its various projects, it offers training in robotics, artificial intelligence, and programming, enabling young learners to innovate and create. With a team of 40 mentors and trainers, the company has already reached 26,000 children and young adults.
iCog Anyone Can Code organizes free public workshops in state schools and runs a six-month acceleration program, the AYSRH Project, to support youth-led or owned start-ups focusing on adolescent and youth sexual and reproductive health. In collaboration with its partners, the company is piloting other initiatives such as the Girls Can Code project and the Solve IT national innovation competition for young people.
iCog Anyone Can Code operates as a subsidiary of iCog Labs, an artificial intelligence and robotics laboratory where Dessie serves as a senior consultant. The lab offers a range of research and development services to international clients, including artificial intelligence and bioinformatics research, as well as machine learning-based data analysis and application software development.
Dessie’s interest in technology began at the age of 7. By 2008, when she was nearing her 10th birthday, she was employed as a software developer at the Information Network Security Agency. In 2012, she worked as a mobile application developer for TECNO Mobile ET, and from 2012 to 2015, she served as a technical manager for EBAGD Computer and Related Working PLC. She also held a position as a trainer at Bahir Dar University.
Dessie’s contributions have earned her several accolades. In 2012, she received the Best Project of the Year award from the Center of Excellence. She was named Outstanding Girl of the Year at the Ethiopian Girls Awards in 2017 and Young Technologist at the Tech Playmakers Award two years later. She was also included in Quartz’s 2019 list of African innovators to watch. In 2023, she was honored with the Professional Excellence Award at the Bikila Award in Ethiopia.
Melchior Koba
On March 21 in Porto-Novo, Louis Vlavonou, the President of Benin's National Assembly, met with Ouanilo Medegan Fagla, the Director General of the Centre national d'investigations numériques (CNIN). Fagla noted the dynamic nature of the National Assembly and the urgent need for digitization. In response to the clear intent of the President of the National Assembly, Fagla expressed CNIN's readiness to support the digital transformation underway at the national assembly, while upholding the principles of digital security integral to this transformation.