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The general perception of insurance on the continent has been bland for years, and its penetration rate, except SouthAfrica, is subpar. Per a McKinsey study in 2018, Africa’s insurance market stood at a 3% penetration rate; with SouthAfrica excluded, it was 1.12%. 250 (~$0.5) – ?300($0.6)
with print disabilities, with more than 70,000 copyrighted works in our library, the majority of which have been created under the US copyright exception by volunteers, mainly people with disabilities themselves, helping each other. • We now have global permissions for around 8,000 copyrighted books out of our 70,000. •
“The establishments of digital banks in SouthAfrica is in its infancy. With already existing shareholders like African Rainbow Capital (founded by South African billionaire Patrice Motsepe), TymeBank says these new investors will grow the company into a top-tier retail bank in SouthAfrica.
For instance, a South African investor who wants to diversify their portfolio outside the Johannesburg Stock Exchange may find investing in the Nigerian Stock Exchange difficult. Per reports , major regional exchanges in Africa have raised over $80 billion in equity capital markets and $240 billion in debt capital markets.
South African-founded startup WhereIsMyTransport is one such company filling that gap for now. million Series A extension to continue its expansion across emerging markets; the company already has a presence in SouthAfrica and Mexico. Today, i t is announcing a $14.5 According to Naspers, the size of its check was $3 million.
For the early detection and treatment of health conditions, easy access to primary healthcare is crucial. However , ubiquitous access to such care is scant across Sub-Saharan Africa. There is a real opportunity for digital healthcare platforms to scale access to team-based care across the region.
It’s an identical problem for more than 51% of 44 million formal SMBs in sub-Saharan Africa who say they need more finance than they can access to grow their businesses, per research. For Float, it prides itself on giving businesses access to financial and software services simultaneously.
Nigeria leads the way again with five startups, while Egypt has four, Morocco has two, and Kenya, Ghana, Zambia and SouthAfrica each have one. Africa has the lowest insurance penetrations globally. FloatPays (SouthAfrica). Here’s the list of African startups that made it to YC S21 in alphabetical order.
Instead, its wallet allows users to access a plethora of services they can’t find on their traditional provider. The funding will help the Techstars-backed company expand to new markets such as Tanzania and SouthAfrica, get the licenses needed to operate there, build out its team, invest in technology and launch new features.
Kwara is now moving a step further to build the next-generation neobank that will give credit-union members access to instant loans and third-party services such as insurance, as the start-up moves to offer end-to-end solutions to its clients. About 175 credit unions are licensed in Kenya to serve nearly 4.1 last year to reach $5.6
When companies create digital payments-facing solutions for African countries outside Nigeria and SouthAfrica, building around mobile money is key. Its API allows these merchants to access telecom operators’ mobile money systems to receive and send payments to millions of mobile money accounts. .
Other countries where Private Relay won’t be available include: Belarus, Colombia, Egypt, Kazakhstan, Saudi Arabia, SouthAfrica, Turkmenistan, Uganda, and the Philippines.
The average penetration rate for insurance in Africa is between 3% to 5%. SouthAfrica makes up a large bulk of it; without it, the continent is on a 1% to 2% rate even with other developed technology and financial markets like Kenya, Nigeria and Egypt. Life after YC has been great for Amenli.
Kwara, which also has a presence in SouthAfrica and the Philippines, has grown its clientele base to 120 from 50 at the end of 2021, maintaining a 100% customer retention — a proof of the value it delivers to its clients. In Kenya, only 175 deposit-taking saccos are licensed, as a vast majority remain unregulated.
We also got our license approvals to go live in the U.S. The chief executive also said NALA, currently present in Tanzania, Kenya, Uganda, Rwanda, Ghana and SouthAfrica, plans to be live in 12 African countries by the end of the year, including Nigeria. and the E.U., country, probably France.”. Image Credits: NALA.
Part of the new round will be use to apply for financial licenses in Singapore, Hong Kong and SouthAfrica, and partner with banks and financial institutions, like payment gateways. “We They have to get quick access to the U.S. XREX’s last funding was a $7 million seed round in 2019.
And, despite violent protests and attacks on drivers that date well beyond 2017, Uber has continued to operate in countries and cities where local regulators say drivers must have a license to operate a taxi service. Later that year, Macron signed off on a decree relaxing requirements for licensing Uber drivers.
The doctor will also be in a place to request for rapid diagnostics tests to be carried out, a service that will be supported by a licensed community health nurse as the medic consults remotely. The health start-up received $1.1 million in April this year to help the company increase its reach and improve care among its patients.
We developed negotiation training to develop the capacity of the women to be able to ask for better working conditions, better wages, which is something that the women said they that had no understanding of, no access to those levels of skills. This work is licensed under a Creative Commons Attribution-NonCommercial 2.5
But with fractional investing, pioneered by Robinhood, access to these securities are democratized and people can own smaller shares in big companies. But Nigerians that could access such services, up until a few years ago, were HNIs with resources to open brokerage accounts and consult asset managers. from 1957 through 2021.
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