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In SouthAfrica, these businesses contribute around one-third of the country’s GDP. Since launching in 2013, South African fintech Yoco has positioned itself as the go-to platform to access offline payments among merchants in the country. “We want to offer whatever payment methods our merchants need. .
“It opens up the world for us to do all kinds of really amazing things we’ve wanted to do in the world of edtech that you can’t do in a strictly offline sense,” the founder added. Similar to many edtech startups, uLesson has benefited from the overnight adoption of remote education.
It is also poised for greater growth as the adoption of lending, digital payments, banking and insurance services grows. . Innovations around mobile money and digital payments have allowed for the processing of payments online and offline through USSD or STK commands, over apps or using NFC technology.
While big restaurants and restaurant chains are often capable of setting their management systems or using well-known point-of-sale providers, thousands of smaller restaurants in Africa rely on offline methods such as pen and paper to produce receipts and make reconciliations.
In this case, uLesson adopts a diversified method of charging schools and their stakeholders. The platform is available in other markets, such as SouthAfrica, Sierra Leone, the UK, Liberia, Gambia and the US, but Shagaya said uLesson has spread in these countries via word of mouth. In August, uLesson introduced offline centers.
Qwili , a startup that provides a hybrid sales product to micro and small merchants in SouthAfrica, has raised $1.2 During those early stages, the phone wasn’t paying back quickly enough, and there wasn’t high enough adoption of the digital services. million in seed funding a year after closing an undisclosed pre-seed round.
Offline payment is also a costly option for buyers as it comes with a cash-on-delivery fee. They’re very technologically advanced, and their adoption of ecommerce is quite good. It’s quite the right market. There’s all the infrastructure that you kind of need to set up a proper tech business.
With limited access to technology, these restaurants typically resort to using offline methods, including pen and paper, for things like manual reconciliation and inventory management. Others include expanding its network of restaurants and continuing its pan-African expansion drive (into SouthAfrica and much later, Ivory Coast).
Since then, the platform (which is open source ) has been modified for use in SouthAfrica (mapping xenophobic violence), DR Congo , Vote Report India (to monitor the recent local elections) and more. This proved to the Ushahidi team that their tool would be valuable to communities around the world.
Africa is the world’s third fastest-growing crypto market, with crypto adoption increasing by more than 1,200% over the last two years. Countries such as Nigeria, Kenya and SouthAfrica are majorly responsible for skyrocketing adoption rates as citizens try to hedge against currency devaluation and build wealth.
The latter is home to startups like Axie Infinity and Yield Guild Games, which have raised millions of dollars in venture capital owing to the adoption of crypto and play-to-earn models. Nestcoin raises $6.45M pre-seed to accelerate crypto and web3 adoption in Africa and frontier markets.
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