After several years in the global financial sector, three tech entrepreneurs decided to set up a fintech solution to facilitate investment in international markets for Africans regardless of their social level. That is how Ndovu was born.
Ndovu is a fintech solution developed by a Kenyan start-up. It enables users to save money and invest in global financial markets via a mobile application. The Nairobi-based start-up behind that solution was founded in 2020 by Radhika Bhachu, Ro Nyangeri, and Gianpaolo De Biase, three tech entrepreneurs with years of experience in the financial sector. The fintech's aim is to provide Africans with the tools they need to build their wealth.
The solution has a mobile app, available on iOS and Android. Users must first download it to create an account. Upon registration, they will be asked to answer a number of questions, after which Ndovu will help them define financial objectives and set up personalized investment portfolios. After that step, they can now invest in financial markets.
The startup has set up an online academy for its users who know nothing about finance. The academy offers tips and advice on investing and saving.
Ndovu also makes initial security picks to suggest interesting investments to its users.
“If you were to save $100 per month for 10 years in a bank account paying 2% per annum, you would earn $13,200. On the other hand, if you invest $100 per month for 10 years using Ndovu, into the S&P 500 fund, you could earn approximately $23,500,” explains Ro Nyangeri.
The minimum investment on Ndovu is 5,050 Kenyan shillings (around $35). The Android version of its mobile app has already been downloaded more than 50,000 times. Since its launch, the fintech has received several awards. Among others, it won the She Loves Tech competition in 2021 and was selected for the Google for Startups Accelerator the same year.
Adoni Conrad Quenum
The trained computer engineer has extensive experience in predictive analysis. His company Cognira helps wholesalers and retailers manage and optimize their promotions.
Hatem Sellami (photo) is a Tunisian computer scientist and tech entrepreneur. He graduated from the Georgia Institute of Technology in 1995 with a PhD in Computer Engineering, and from the Georgia Tech Scheller College of Business in 1996 with a Master's in Finance and Technology Management.
In 2015, he founded Cognira, an artificial intelligence company of which he is the CEO. Based in Georgia (USA), Cognira provides retailers and wholesalers with solutions dedicated to promotions management. It aims to simplify collaboration, analyze past results, and implement more innovative, more effective promotions.
By leveraging artificial intelligence and data science, his company designed PromoAI, an innovative solution that enables clients to plan, execute, analyze, and optimize promotions. Cognira promises clients an average of 8% increase in sales, 25% reduction in inventory waste, and a 15% margin increase. It has received several awards and distinctions. For instance, in 2019 and 2020, it was recognized, by Inc. Magazine as one of the fastest-growing private companies in the United States. In 2020, 2021, and 2022, the Financial Times also recognized it in the same category.
"Our efforts at Cognira to develop and foster a culture that provides value to our customers and our determination to bring innovation to Promotion Management are proving to be at the forefront of our success," said Hatem Sellami in March 2022 when the Financial Times announced Cognira as one of the fastest-growing companies of 2022 in the Americas.
Before Cognira, Hatem Sellami co-founded Predictix, a consulting firm specializing in predictive analytics, in 2005. Before the company was acquired in 2014 by IT company Infor, he grew its sales to over $20 million.
His professional career began in 1997 at Retek, a company specializing in retail forecasting, where he was a data scientist and head of demand forecasting until 2005.
Melchior Koba
Biometrics has made great strides in Africa in recent decades, likely spurred by governments and international organizations, driven themselves by concern for efficiency.
The National Identification Agency of Togo (ANID) will launch next month a nationwide biometric identification census. The Agency disclosed the news on August 30, during a press conference.
The project will last seven months, a month in each region, except in the Greater Lomé region, the country’s most populated region, where it will take two months.
Silete Devo, ANID’s Director General, commented on the census: "Faced with this digital transformation, identification, or the allocation of a unique identification number (NIU) to every natural person becomes the necessary condition."
With a budget of $72 million, the project is partly financed by the World Bank, under the West Africa Unique Identification for Regional Integration and Inclusion program (WURI). The latter covers Togo, Benin, Burkina Faso, Senegal, Niger, and Ivory Coast.
In Togo, the project aims to proceed to the digital identification of 95% of the population. Each resident will be registered with biometric markers. These will include first and last names, photos, fingerprints, and irises.
Both nationals and residing foreigners (who have been in Togo for more than six months) will get a single 12-digit ID number. Ultimately, the project should streamline government services, improve the identification process, and give citizens a robust digital identity, propelling Togo further into the digital age.
Like many other African countries, Ghana wants to leverage technology to improve its economy. Since 2017, the current government has identified many sectors where digital tools will transform government efficiency.
Starting next year, Ghana will automate revenue collection at major tourist sites, Tourism Minister, Dr. Ibrahim Mohammed Awal (pictured), revealed at the Editor’s Forum held in Accra in mid-August. The transition marks a shift from a fully manual collection to a cashless system that is expected to enhance revenue generation and investment in the sector.
According to Dr. Awal, tourist attractions rely heavily on manual revenue collection but this will soon change with the cashless systems being first implemented at the newly renovated Kwame Nkrumah Memorial Park, before being “replicated nationwide at other attractions.”
By introducing automated revenue collection systems in its tourism sector, Ghana wants to capitalize on the experience of countries like Kenya and Tanzania that have achieved notable success in that segment. For instance, in Tanzania, the digital payment approach has helped curb embezzlement and streamline revenue collection.
If successful, the modern approach may get Ghana closer to its ambition to generate $5 billion from the tourism sector by 2025. In 2022, the sector generated $2 billion. This year, the country eyes $3.4 billion in revenue.
By 2025, it hopes to attract two million visitors yearly. To do so, it bets on private-sector partnerships and various initiatives including the modernization of cultural sites like the Dubois Centre and Osu Castle, along with positioning Ghana as a hub for Meetings, Incentives, Conferences, and Events (MICE) in the sub-region.
Hikmatu Bilali
DigiCow Africa Ltd has developed several digital solutions to help farmers. Among them, the DigiCow Dairy application, its major solution, has won several awards.
Digicow Dairy App is a mobile application developed by Kenyan start-up DigiCow Africa Ltd, formerly FarmingTech Solutions. It provides “verified, reliable, and timely information on animal husbandry” to farmers. The solution was launched by Peninah Wanja, a Kenyan practicing extension officer determined to address the challenges faced by farmers in her country after witnessing them firsthand.
“It's a gap that I saw because when you look at the statistics and what is on the ground, our government has provided one extension officer for close to 4,000 farmers. So, there is a need for these critical services,” the tech entrepreneur explains.
The Digicow app is available for Android devices only. Once installed, it enables farmers to register by providing all the necessary information on their livestock. Based on that information, Digicow assists the farmers in their various tasks by notably providing real-time reports and sending notifications concerning important cow breeding dates.
"The App is designed to use the data and feedback production, financial reports, breeding and health reports. The farmer has the option to access analyzed financial statements and receives important alerts such as dropped milk production, when to observe for heat signs, indicating a failed conception, and when to expect the cow to calf among other advisories," Digicow indicates, describing its Android app.
The app features a virtual training room, available 24 hours a day. The training room includes on-demand written audio and video content. There is also a real-time chat room where farmers can interact, exchange ideas, and discuss with group experts.
Thanks to the Digicow app, DigiCow Africa Ltd has set up an ecosystem to help farmers increase milk yields, ensure better herd health, and improve farm organization among other things. Digicow also has a lending mechanism designed to provide farmers with credit for personal and agricultural expenses.
In 2019, DigiCow was named Kenya's most innovative agritech in a World Bank challenge. It claims to work with over 200,000 farmers.
Adoni Conrad Quenum
Through its coaching program, coworking space, training, and mentoring among other things, Kobo Hub creates a favorable environment conducive to the growth of young businesses and startups in the region.
Founded in 2018 by Sidonie Latere, a Congolese serial entrepreneur, Kobo Hub is a startup accelerator based in DR Congo. It aims to accelerate the emergence and growth of local entrepreneurs with impactful projects.
The accelerator notably provides support to innovative entrepreneurs and companies with impactful solutions for African populations. It also provides entrepreneurs with a coworking space to enable them to work with others and grow their network. The well-equipped space features training and conference rooms for hire.
Through its Kobo Boost program, it offers training and mentorship programs to young startups and companies that need it. It also supports project leaders by providing a network of multi-disciplinary experts, and access to the skills, resources, and infrastructure essential to the success and growth of their projects.
Kobo Hub has a network of over 50 investors and more than 30 active mentors. It has already raised over $90,000 for accelerated start-ups and has access to over 50 entrepreneurs, incubators, and companies. As an accelerator, it has developed over four educational programs and organizes over 25 events a year. Its partners include the DR Congo Ministry of Foreign Affairs, the Organisation internationale de la francophonie and the Agence française de développement.
Some of its notable programs include Kobo Art, a 10-month incubation/acceleration program funded by the French Embassy to support entrepreneurs in the cultural and creative industries.
The accelerator has also developed a fintech solution, KobooPay, which enables e-tailers to generate a single-use or open-ended payment link. The link enables payment to be made by credit card, regardless of geographical location, or by mobile money. It also has an agent network that allows e-tailers to withdraw the funds received in cash.
Melchior Koba
Although they remain focused on only a few countries, Africa continues to attract investors from around the world. This is mostly thanks to the good impetus of the youth-driven tech industry in sectors such as agriculture and education.
The LA-based VC firm Black Ostrich Ventures announced the launch of a $20-million seed capital dedicated to African businesses that operate in areas such as clean technologies, supply chains, agritech and edtech.
This vehicle, backed by New York investors and wealthy Los Angeles individuals, targets start-ups in Tanzania, Zambia, Morocco and Uganda. Ajani Windsor-Areago, the General Partner of Black Ostrich Ventures, explained that “If you look at the capital inflows into VC in Africa, the Big Four countries—Nigeria, South Africa, Egypt, and Kenya—attract all the capital. But most exits do not happen in these markets". Selected startups will receive between $50,000 and $200,000 to develop their business, with the possibility of a follow-up investment of up to $1 million if the startup reaches Series A.
Focusing outside the big four is the way for Black Ostrich Ventures and its partners to help markets that generally receive little of the tech investment inflows in Africa. Let’s note that a report issued last July 11th by the research firm Magnitt revealed that Nigeria, South Africa, Egypt, and Kenya captured 94.5% of total financing raised by African tech startups in the first half of 2023.
Samira Njoya
The Dubai-based company said the investment will help bolster payment systems infrastructure and financial inclusion and contribute to the digital transformation undertaken by the Egyptian government.
Network International, a major player in digital commerce in the Middle East and Africa (MEA) region announced on Monday, August 28 an investment of EGP 1 billion ($32.3 million) to support Egypt's economic growth through innovative payment solutions.
According to the company's press release, a"significant portion" of the capital will be spent to buy, deploy, and maintain around 100,000 point-of-sale (POS) machines in several regions of Egypt. The rest will be devoted to the implementation and smooth operation of Network One, the company's state-of-the-art payments technology platform.
"This investment underscores our ongoing commitment to providing innovative payment solutions to Egyptian businesses. Our presence in the Egyptian economy spans more than two decades, during which we have served numerous banks and financial institutions," said Nandan Mer, CEO of Network International.
Network International's new investment in Egypt aligns with its government’s efforts to implement the country's national digital transformation strategy called "Digital Egypt 2030". The latter aims to "realize the digital economy through ICT, to ensure prosperity, freedom, and social equity for all".
Network International's presence in Egypt will significantly contribute to financial inclusion and GDP growth. The player strives to modernize financial technology to facilitate the transition from cash to digital payments.
Samira Njoya
Like Equatorial Guinea and Cameroon, who did it this year, Burkina Faso has digitized its visa.
Burkina Faso recently adopted the e-visa. The dedicated platform was launched on August 17, in Ouagadougou, the capital, by the Deputy Minister for Security, Mahamadou Sana.
Sana believes that the e-visa is a response to transnational crime and that it will help boost internal security by controlling migratory flows, and optimize the collection and management of government revenues.
The new e-visa platform, according to Aminata Zerbo-Sabané, Minister of Digital Transition, Post and Electronic Communications is a huge step in the ongoing digitization of the country’s public services. The platform is backed by the Burkina Faso Visa Security Project (PSV-BF).
"This platform is part of the government's drive to put digital technology at the heart of the overhaul of our administration," Zerbo-Sabané declared.
Travelers looking to secure a visa can simply do so by accessing the website www.visaburkina.bf using their email. Once connected, they will have to fill out a form, upload the necessary information and pay online, via a bank card.
The e-visa’s price varies depending on the number of days a visitor plans to stay in the country. It ranges from €51 for a 3-month single-entry tourist visa to €160 for a single-entry express visa.
Samira Njoya
We are in the digital economy era, and the impact of tech entrepreneurship on wealth and job creation keeps growing in Africa. However, African innovators still face many challenges, and encouraging local talent and promoting access to certain resources is becoming more and more urgent.
The Tanzania Communications Regulatory Authority (TCRA) and the Tanzania Commission for Science and Technology (COSTECH) recently signed a partnership agreement to provide free communications resources to emerging ICT companies. The move aims to foster an environment that is conducive to digital innovation and allows these companies to thrive.
"The collaborative effort aims to nurture the country's thriving digital innovation landscape, ensuring that start-ups have the tools they need to thrive and contribute positively to society through their technological advances," said TCRA CEO Dr Jabiri Bakari (pictured, right).
"The distribution of these resources makes it possible to offer high-speed Internet services, an important factor in the digital economy," he added.
Two months ago, the TCRA allocated resources to four innovative startups to enable them to submit their ideas to COSTECH for further development. The move also contributes to the Tanzanian government's ambition to provide 80% of the population access to high-speed Internet by 2025, consequently fostering innovation in areas such as entrepreneurship, agriculture, and transport.
Support from TCRA and COSTECH will enable Tanzanian startups to communicate their projects free of charge. Among other things, TCRA provides numbering resources, frequency spectrum, zip codes, residential addresses and mobile money services.
Samira Njoya
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The solution was launched to particularly allow users to get their food and groceries delivered anytime, even at night time as there were no night-time delivery services at the time.
Noofy is a mobile application developed by an Algerian start-up. It enables users to have food and groceries delivered to their doorsteps. On its website, the startup behind the app explains: “When Noofy founder and CEO Nacer Eddine Gacem returned to Algiers in 2022, he discovered a city full of excellent restaurants open at night, but was astonished that there was no option for food and grocery delivery as well as tobacco delivery at night. He made it his personal mission to bring the best local night store work right to people's doorsteps.”
In line with its commitment, the startup has developed a mobile application, accessible for Android and iOS devices. Through that app, a user can create an account, with just a phone number, and check the restaurants and stores listed.
Among other things, users can buy local or western foods, and stock up on groceries and other goods from convenience stores, specialty stores, or supermarkets.
To further simplify the process, Noofy requires users to enter their geographic location before anything. Based on that location, the app will suggest nearby restaurants or stores to reduce delivery time.
Apart from food and grocery, Noofy also delivers tobacco and medicines on demand. Its delivery drivers ride bicycles to reduce the startup’s environmental impacts.
The idea is successful since, according to Play Store data, in about one year of existence, the Noofy Android app has been downloaded more than a thousand times. Nevertheless, the startup, which currently operates in Algiers, seeks to expand to other large cities including Oran, Constantine, Setif, and Tlemcen.
Adoni Conrad Quenum
The most populous country in Africa does not want to be left behind when it comes to new tech tools. The federal government is striving to leverage assets such as its youth to become a leader in AI.
Early this week, the Minister of Digital Economy, Bosun Tijani (pictured), made a post on X calling on all top researchers from the continent and abroad to help make this ambition a reality. The goal is to build an AI-powered development strategy. “We are curating a list of the top researchers of Nigerian descent from all over the world to join us in co-creating a National AI Strategy. The strategy will help shape our approach to building innovative tech solutions to our most pressing national problems,” the authority said.
AI has become, according to the FG, a multipurpose technology that transforms production and service delivery and has the potential to significantly stimulate economic growth and social development. Nigeria believes that by 2030, this technology could contribute up to $15.7 trillion to the global economy with $3 trillion coming from increased productivity and $9.1 trillion from new products and services.
With its national AI strategy, the country hopes to position itself as a leader on the continent in the next few years and tap into the benefits of this segment. Better still, Nigeria wants to give its tech environment a new face and unleash more effective and impactful tech innovations.
Samira Njoya
After several years working for major UK and South African companies, he founded a digital health startup in his home country. He is supported by Founders Factory Africa and Google for Startups.
Njabulo Skhosana (photo) is a South African entrepreneur and versatile professional. He co-founded HealthDart, a digital health startup of which he is the CEO.
The tech entrepreneur holds a bachelor's in pharmacology from the University of Liverpool (2008), a master's in international business from the University of Sheffield (2010), and a master's in international development, public policy and management from the University of Manchester (2013).
His healthech startup, founded in 2021, aims to make healthcare accessible and affordable for everyone. Its eponymous platform makes it easy for South Africans to find nearby nurses, doctors, and pharmacies to get the care they need. The startup aims to develop a leading healthcare platform that sets the standards for quality in the digital age. For that purpose, it offers affordable hospitalization plans to ensure comprehensive coverage in case of unforeseen medical emergencies.
Backed by Founders Factory Africa, a technology investor that supports pan-African early-stage founders, the company has delivered over 2,000 medicines and carried out more than 1,500 medical consultations. It was selected as one of 25 African start-ups for the Google for Startups Black Founders Fund 2023.
"[...] Our goal and current efforts revolve around streamlining how patients access healthcare, particularly primary healthcare, anchored around the pharmacy as the future of integrated primary healthcare," explained Njabulo Skhosana in August 2023.
The latter entered the professional world, in 2008, by joining the food and beverage company HJ Heinz as a quality control chemist. In 2009, he worked, as a claims administrator, for financial and legal firm Fairpoint. In 2011, he was hired by health insurance company Bupa as a healthcare service delivery adviser. In 2013, Deloitte recruited him as a manager of strategy and operations. Three years later, he became Chief of Staff to the CEO of Discovery Health, the healthcare arm of Discovery Ltd. He held this position until 2020.
Melchior Koba
After 19 years outside his native Côte d’Ivoire, Zaza Gnahore, the founder of Djoloo decided to return home to reconnect to his culture and popularize African culture across the world. Through his online platform, he is doing just that.
Djoloo is an e-commerce platform developed by an Ivorian start-up. It enables users to purchase items from artists and artisans who showcase African culture.
On the platform, unregistered users can browse the online stores and the various items on sale. The items include books, games, gift packaging, and accessories, as well as clothing for men, women, and children among other things.
Apart from Côte d'Ivoire, the products on sale on the platform come from several African countries, including Senegal, Côte d'Ivoire, Mali, Benin, Cameroon, Tunisia and Morocco. To place an order, a user will need to create an account by entering the necessary information.
Djoloo does not offer delivery services but the orders can be shipped to the address indicated by buyers. Delivery time usually ranges between two and four days, unless stated otherwise on the product description page or during order validation.
The startup explains that when a delivery fails, the carrier hired to deliver the order will deliver the products to a neighbor/nearby address or collection point.
In addition to online sales, the platform has a blog on which it showcases African artisans and artists and their products. The blog features several articles telling the success stories of the owners of various African brands.
Adoni Conrad Quenum