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After selling their hospitality tech startup, Teranga, in 2018, Senegalese brothers Moustapha and Alioune Ndoye ventured into the trucking business as they pondered their next move. Some market research made them aware of the full extent of inefficiencies in the trucking business, which especially limited the earnings of owner-operators.
Multinationals like Amazon and Alibaba have leveraged logistics infrastructure such as UPS and FedEx to create large businesses. PAPS , a Senegal-based logistics and delivery company, is filling this gap in its region by offering customers various logistics services. Merchants can also schedule deliveries on the platform.
Wave, an African fintech that offers mobile money services in Senegal and Ivory Coast, laid off about 15% of its workforce last month. In 2020, Wave officially spun off from Sendwave, a remittance platform that WorldRemit acquired for about $500 million in cash and stock. Germany, Nigeria and the U.K.
and Senegal-based mobile money provider, has raised $200 million in Series A round of funding. ” In 2018, the product was piloted as Wave in Senegal but it was still within the Sendwave ecosystem. In June, the telecom operator stopped users in Senegal from purchasing Orange airtime via Wave’s mobile application.
In an interview with TechCrunch, CEO Onayemi, a lawyer by profession, said the idea for Norebase came after various conversations on how his clients and colleagues in tech could leverage AfCFTA for their businesses. It allows founders and businesses to start and scale across several African countries at once or periodically.
The company, which facilitates B2B payments for businesses in Francophone West Africa, mainly via mobile money channels, has raised a total of $7 million in the financing round. . Ivorian fintech Julaya raises $2M to digitize business payments in Francophone Africa. Last July, Léopoldie said the fintech was processing more than $1.5
As the number of those connected to the internet grows, and shoppers increasingly opt to buy goods online, e-commerce platforms are set to experience a spike in the number of orders made and the value of goods bought — as happened recently with Jumia. Nigeria, South Africa and Kenya account for most of the online sales on Jumia.
It is nearly impossible for businesses in some African countries to receive money from PayPal. Via this partnership, African businesses can connect with the more than 377 million PayPal accounts globally and overcome the challenges presented by the highly fragmented and complex payment and banking infrastructure on the continent.
B2B retail and e-commerce platforms have primarily tried to fix these inefficient supply chains over the last couple of years and have received substantial investor backing since the pandemic. However, the recent entry into Ivory Coast and Senegal somewhat forced its hand. Sokowatch started as this kind of backend brand.
Smile Identity , a KYC compliance and ID verification partner for many African fintechs and businesses, has acquired Inclusive Innovations, the parent company of Appruve , a Ghanaian developer of identity verification software. Other prominent use cases include AML checks, customer onboarding and fraud prevention.
These challenges befall millions of micro-retailers across the continent, and Betastore , a B2B retail marketplace for informal retailers, is working to resolve in Nigeria, Ivory Coast and Senegal. We plan to enter new markets before the end of the year and to expand to 100 cities across Nigeria, Ivory Coast and Senegal.
. “The built-in transparency and security of the blockchain combined with the popularity of mobile banking in Africa made it clear to me that a blockchain-based mobile investment platform was the key to expanding financial inclusion,” said the CEO. ” .
Norway’s Pangea Trust, through its equity crowdfunding platform Connect , is unlocking diaspora remittance inflows as funding source for early and growth-stage startups in Africa. Remittances from abroad reached $45 billion in 2021, with Nigeria, Ghana, Kenya, Senegal and Zimbabwe leading the list of recipient countries.
million visits every month, with the car category accounting for 50% of the business transactions happening on the site. Already, Autochek has rolled out its operations in Ivory Coast and Senegal following the acquisition, with more markets set to be activated, including Benin and Togo, as the auto marketplace expands. over 2022-2027.
.” The Ivorian startup acts as an online and point-of-sale payment solution for merchants to process payment from more than 130 different payment operators — mobile-money, bank cards, wallets — in nine French-speaking African countries: Ivory Coast, Senegal, Cameroon, Mali, Burkina Faso, Togo, Congo, Guinea and Benin.
The concept is ubiquitous in East Africa, but since mobile money is a telecom operators-led initiative, there are technical complexities in creating a unified infrastructure for businesses that need it. An interesting instance would be freelancers in Ivory Coast trying to receive payment for services on a global payments platform.
Appzone platforms are used by 18 commercial banks and more than 450 microfinance banks in Africa. Appzone, having built both banking and fintech layers, wants to connect individuals and businesses to their services. Other countries with a presence include the Democratic Republic of Congo, Ghana, Gambia, Guinea, Tanzania and Senegal.
In addition to Tunisia, GOMYCODE is present in Bahrain, Morocco, Egypt, Algeria, Ivory Coast, Senegal and Nigeria. Students on the platform go through two types of programs. On the other end, it also works with business clients that use a study now, pay later plan for their employees.
Agriculture insurance has traditionally relied on farm business. They include Senegal, Ghana, Mali, Nigeria, Ethiopia, Madagascar, Tanzania, Kenya, Rwanda, Uganda, Zambia, Malawi and Mozambique. South African startup Aerobotics raises $17M to scale its AI-for-agriculture platform. In the U.S. million farmers.
And the third one is that we look for business models that can scale up quickly, similar to the normal VC model, but that they would be able to affect a lot of people. That means if SIV II makes an investment in an IDA country like Senegal and the company doesn’t do well, a portion of the investment will be covered through the structure.
From hospitality to fleet management : Two brothers in Senegal are putting their hospitality management skills to work helping trucking companies with their logistics. For example, raising funds to scale up sales and marketing efforts might sound great, but what if the business itself has negative unit economics? Product problems?
He acknowledged that Nestcoin held assets, which the Financial Times pegs at $4 million, in the bankrupt crypto exchange platform FTX to manage operational expenses. Most FTX customers have been unable to withdraw their funds from the platform as the Bahamas-headquartered company goes through bankruptcy proceedings.
In February 2020, as the world was shutting down, and as businesses downsized on account of the Covid pandemic, John Kamara was busy establishing another new startup Adanian Labs in Nairobi, Kenya’s capital. It may have been a tough period to build a business but they sailed through with their mission. “We
Swizerland, India, Nigeria, Senegal and other geographies. There’s Anchor, a remote banking-as-a-service platform that has already raised over $1 million for its platform, Bridgecard , a card issuer for Nigeria, and erad , a non-dilutive funding platform for Middle East startups.
And that’s what we’re building on our platform,” Dufay said in an interview with TechCrunch. “As These early signs of success can be seen in markets like Senegal and Ghana, where the electronics and phones categories grew the fastest in GMV in Q2 2023. People want cheaper products and better deals.
Julia Campbell will provide a framework for evaluating the best platforms for your unique organization, as well as ideas for creating great social media content your audience will love. Peace Corps in Senegal in West Africa. Platforms come and go. What are the best platforms? Julia: Yes. Steven: All right, awesome.
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