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Nigeria has an average of 4.8 Reports also say that less than one-third of Nigerian adults have access to a bank branch or ATM within one kilometer of where they live. This challenge in accessing financial services, especially for the unbanked and underbanked, has given rise to agency banking. “The
Twitter is suspended “indefinitely” in Nigeria, “for the persistent use of the platform for activities that are capable of undermining Nigeria’s corporate existence,” according to a statement ( threaded on Twitter ) from the country’s minister of information and culture. We are deeply concerned by the blocking of Twitter in Nigeria.
Earnipay , a fintech that provides flexible and on-demand salary access to income-earners, has raised $4 million in seed financing led by early-stage venture capital firm Canaan. A few individual businesses have sought to tackle this problem internally and allow employees to access their daily salaries as they work for it. 250 ($0.5)
FSD Africa is set to launch insurtech accelerator programs in Ghana and Nigeria next year to promote innovations that will drive the uptake of insurance in the two markets and beyond. We are planning to launch the BimaLab Insurtech Accelerator Program in Ghana and Nigeria.” funded Financial Sector Deepening (FSD) Africa.
And in the next two years, Fintech Farm plans to enter eight emerging markets spread across Africa and Asia, the first of which is Nigeria. “We Meanwhile, despite its original plan to use partner banks, Fintech Farm has done the opposite in Nigeria so far. Right now, the company says it has gotten a “co-operative license.”
Adults can access the educational materials for free. Last year, the company removed at least 63,000 Instagram accounts in Nigeria that attempted to financially extort victims. The content offers videos, scripted lesson plans, and interactive classroom activities.
India, with 32 startups, is the second-largest demographic represented in the new batch, while Nigeria is third, having delivered 18 startups. Location : Lagos, Nigeria. Location : Lagos, Nigeria. Location : Lagos, Nigeria. Location : Lagos, Nigeria. pre-seed to build financial OS for B2B companies in Nigeria.
Husk Power Systems , a clean energy company that has been at the forefront of fueling rural electrification since 2008, is planning to launch 500 solar mini-grids in Nigeria over the next five years. In November last year, Husk launched its first six mini-grids in Nigeria, and is looking to have 100 operational within two years.
Remedial Health has secured $1 million in pre-seed funding to digitize pharmacies and stem the supply of fake and substandard pharmaceutical products, starting with Nigeria before expanding to the rest of Africa. Other notable startups in the space are Kenya’s MyDawa, Ghana’s mPharma and Nigeria’s DrugStoc.
The process of digitizing the operations of mom and pop stores in Nigeria is serious business right now. Today’s news is from Alerzo , a little-known B2B e-commerce retail startup based in Ibadan, Nigeria. Omnibiz gets $3M to digitize Nigeria’s informal B2B supply chain. The company is announcing a $10.5
of its adult population had one form of insurance policy in Nigeria as of 2018. The self-described “Nigeria’s first 100% digital insurance company” has raised a $4 million pre-seed round. Unlike the former, insurance around job loss is relatively uncommon in Nigeria. In the news today is one such company: Casava.
Sub-Saharan Africa’s share of the global population without access to electricity stood at 77% in 2020, according to reports. In an interview with TechCrunch, he said these experiences gave him exposure to the application of technology in the power sector, and he saw an opportunity to apply that in Nigeria and across Africa.
Each stakeholder can access tools around inventory management, sales, tracking, digital invoices, analytics on the platform. Adesina said in Q1 2022, Sabi plans to roll out a subscription model where agents will pay a monthly fee to access a reseller model.
It also has a presence in Zambia, Uganda, Tanzania and Nigeria, where it says its customers tripled over the last one year. Shell-founded startup fund receives $13 million from Canadian DFI to accelerate clean energy access in Africa. Sun King has previously raised $170 million in equity and debt funding.
and cannot be accessed by anyone apart from you the winner, therefore. The total amount for everything is $76.00 We have tried our possible. best to indicate that this $76.00 should be deducted from your winning. prize but we found out that the funds have already been deposited IMF. this transaction. contact the agent in-charge ( Mr.
So essentially what we’re trying to do is to use technology to make quality health care accessible and affordable in emerging markets.”. Kuti’s comments highlight critical issues with healthcare in Nigeria: accessibility and affordability. Image Credits: Reliance Health. The six-year-old startup said it has averaged a 3.5x
SeamlessHR , a Nigeria-based company that wants to help African businesses “leverage the continent’s greatest asset: abundant human capital” with its cloud-based human resources (HR) and payroll software, has raised $10 million in Series A funding for its next phase of growth and regional expansion. but rarely used in markets like Nigeria. “In
His firm, Seven Seas Technologies , has previously worked with governments too — having been involved in the initial implementation of the decentralized service delivery hubs – Huduma Centres , which grant citizens access to nearly all government services through a single portal. seed funding. To date, Ponea has attracted $4.3
A large percentage of these adults are unbanked and underbanked; thus, they don’t have access to credit and can’t afford important purchases outright. Six years ago, it was heavily focused on East Africa, but having pulled out of Tanzania, M-KOPA is present in Kenya, Uganda, Nigeria and Ghana.
In Nigeria, some go to the extent of keeping information offhand. Most of these features are geared at onboarding a wide range of businesses in Nigeria to the platform; however, the strategy is to introduce credit and other financial services to them. But in reality, they all converge at one point, which is providing access to credit.
Kuda , the challenger bank based in Nigeria and the U.K., Kuda is currently making some strategic changes to serve its customers better and continue to make financial services more accessible, affordable and rewarding to every African,” said the four-year-old company, citing reasons for the layoffs.
Not only does this limit investors’ access to high-growth securities, but it also limits access to capital that has grown in leaps and bounds over the past couple of years. SecondSTAX provides access to debt and equity securities across multiple African bonds and stock exchanges. To bolster its efforts, it has also raised $1.6
Nigeria remains a largely cash-dominated country. There are over 100 million adult Nigerians, of which more than half have little or no access to financial services. . There’s also limited access where members cannot consistently save if absent from a particular location. Image Credits: Bankly.
to reach a relative in Nigeria. Ben Eluan and Osezele Orukpe , two software engineers based in Nigeria, faced this problem in 2019. Pioneer gives founders access to funding streams and talent hardly found outside Silicon Valley. Nigeria is becoming Africa’s unofficial tech capital. The platform charges $0.50
For them, accessing loans can be difficult, which is a problem fintechs try to solve. Three years after launching its mobile lending service in Nigeria , the company set up shop in India , Asia’s second-most populous country in August 2020. FairMoney has come a long way since its Nigeria launch in 2017. There are over 1.7
With a focus on Kenya, Nigeria, South Africa, Mexico and India, selected startups receive £80,000 (~$100,000) in grant capital, six months of support and connections with follow-on investors. However, the selected six startups this year are from Kenya, Nigeria, and South Africa.
market to theirs — thrives on the notion that access to a financial ecosystem via open APIs will improve access to financial information and lower entry costs for the underbanked. . Nigeria’s Mono raises millions to power the internet economy in Africa.
Chibuzo Opara and Adham Yehia, being all too familiar with the problems of poor pharmaceutical supply chains, are planning to widen the reach of DrugStoc, a e-health drug procurement platform that eliminates these challenges by linking drug companies with institutions such as hospitals and pharmacies, in Nigeria. million series A funding.
Nigeria has a population of almost 200 million, with 60% under the age of 25. They can access the platform’s first-semester content for free and practice. The company is also exploring B2B partnerships with private schools in Nigeria and Africa, using AltSchool’s curriculum in their classes.
His experience from this activity, coupled with working as a technical adviser to the vice president’s office in Nigeria a couple of months back, led him to launch Norebase , a trade tech startup that has raised $1 million in a pre-seed round. The service, which is only available for incorporating businesses in Nigeria, the U.S.
Africa Health Holdings , a healthcare startup running several hospitals, has secured $18 million in a Series A round, funds that will go toward building its “tech-forward healthcare system” across Ghana, Kenya and Nigeria. This is in addition to providing access to test results, and 24-hour emergency response.
Instead, its wallet allows users to access a plethora of services they can’t find on their traditional provider. In total, it has processed over $1 billion since its launch in 2020 from 1 million customers the company has acquired from Ghana, Kenya and Nigeria, Boampong said. It doesn’t aim to replace mobile money or banks.
Microtraction , an early-stage venture capital firm based in Lagos, Nigeria, saw funding nearly quadruple for its portfolio. ” Badamosi, who returned to Nigeria from the UK in 2015, worked as the general manager for Starta Africa, an online community for African tech entrepreneurs. The introductory batch was all Nigerian.
TradeDepot , a Nigeria- and U.S.-based TradeDepot operates a B2B marketplace that connects small shops, kiosks, retailers with wholesalers of global consumer brands who have access to food, beverages and personal care products. Merchants are able to double or triple what they normally buy just because of this access.
Salient surveyed over 80 companies across Ghana, Kenya, Nigeria, and Uganda, 25% more than the number it tracked in its last report in 2021. Online pharmacy regulations have been launched in Nigeria and Ghana and are in development in Kenya and Uganda. As such, their growth has been rapid, Salient says.
Joseph Heller is a small businesses expert and the CEO of Supplied , a wholesale platform for small businesses and brands that makes it easier for boutique owners to access high-quality, affordable items. Those closer to the concentric circles of venture capital know that venture capital exists and they know how to access it.
The adoption of buy now, pay later (BNPL) in Nigeria as a payment option both online and at the point of sale is expected to record a CAGR of 20% from 2021 to 2028, per this report. Consumers can access credit from ?5,000 But becoming a market leader in Nigeria or Africa isn’t CredPal’s for the taking.
” The company, which currently offers mobile-first banking services in Nigeria, has picked up $25 million in a Series A being led by Valar Ventures, the firm co-founded and backed by Peter Thiel, with Target Global and other unnamed investors participating. “We closed February at $2.2 ” Image Credits: Kuda.
Olumide Soyombo is one of the well-known active angel investors in Nigeria tech startups and Africa at large. Voltron will be deploying capital to roughly 30 startups, mostly in pre-seed and seed-stage across Africa, in a bid to “address the severe lack of access to early-stage funding for African tech companies.”
It became clear that the fundamental issue that drivers face is consistent access to vehicles. And that is when we realized that if we are to be successful at solving the challenge of mobility across the continent, we have to first address the issue of vehicle access.”. Photo Credits : MAX.
Realizing emerging opportunities, Xetova , a Kenyan startup, is deploying technologies that make information on market opportunities accessible to traders. We are building a trust network that, for example, allows a company in Kenya to know who to work with in a country like Nigeria, South Africa.
And though Nigeria’s food processing systems have a keen resemblance to the West with respect to big factories and huge economies of scale in high-demand cities, farmers still suffer from poor logistics networks. First, it planned to increase productivity in Nigeria’s agricultural sector using software.
Underserved communities often face unique challenges when accessing and harnessing digital technologies. We provide small funds for female entrepreneurs in our country who do not have access to credit. In many developed countries and regions, resources related to education and employment are not equally accessible to women.
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. •
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