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Female genital mutilation still occurs Last month, I traveled to Senegal to see UNICEFs work firsthand. In addition to running her own small business, Sally pays it forward by training girls in Kolda who have disabilities like her. Despite challenges, we are making progress in Senegal and all over the world.
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. Initially , PAPS operated a consumer-to-consumer logistics model.
Wave, an African fintech that offers mobile money services in Senegal and Ivory Coast, laid off about 15% of its workforce last month. The company, which operated a stealth launch two years prior in Senegal, has since raised over $290 million in equity and debt capital funding to date. 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.
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
r Internationale Zusammenarbeit (GIZ) will train managers of leading accelerators in Africa over the next two years, to help them establish sustainable business models that commandeer greater influence in their ecosystems. Silicon-Valley based VC firm 500 Global and German’s economic development agency Gesellschaft fu?r
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.
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.
However, the recent entry into Ivory Coast and Senegal somewhat forced its hand. Wasoko allows retailers from Kenya, Tanzania, Rwanda, Uganda, Ivory Coast and Senegal to order products from suppliers via SMS or its mobile app for same-day delivery to their stores and shops via a network of logistics drivers.
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.
While traditionally busy markets like North America and Europe benefited from the explosion in capital, other regions with more nascent startup scenes also saw big gains in their ability to attract funding. Chargel, based in Senegal, recently raised $2.5 The recent, and now past, venture capital boom was a global affair.
Briter Bridges, for instance, avoids using geography to define an African startup due to factors contributing to business identities like taxation, customers, IP and management team. Senegal took the fifth spot with $353 million, while Ghana was sixth ($167 million). In 2021, Nigeria retained the first spot ($1.8
Remittances from abroad reached $45 billion in 2021, with Nigeria, Ghana, Kenya, Senegal and Zimbabwe leading the list of recipient countries. 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.
Companies from all sectors are welcome – but they must have business experience, be registered in a European country and active in two European countries, and have a solid financial foundation and regular income,” said KfW. We are going to help them to reinvent the way they operate their businesses (to enter African markets).”.
The company also just closed on $14 million in funding to expand its business across Africa. While pursuing a business degree at NYU Ibrahim met Nichols, who had been working on large-scale solar projects in the U.S., But growing up, Ibrahim was told stories about East Africa. at an event for budding entrepreneurs in New York.
Packages handled by Jumia Logistics, its delivery business over the Black Friday season, reached 5.3 The e-commerce platform is available in 11 markets across Africa, including Algeria, Senegal, Tunisia, Ivory Coast, Uganda and Morocco. Nigeria, South Africa and Kenya account for most of the online sales on Jumia.
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. PawaPay , a U.K.-based based and Africa-focused payments company, is one of the few tackling these complexities.
In addition to Tunisia, GOMYCODE is present in Bahrain, Morocco, Egypt, Algeria, Ivory Coast, Senegal and Nigeria. On the other end, it also works with business clients that use a study now, pay later plan for their employees. One of its investors from the seed round, Wamda Capital, doubled down in this new financing.
At a time when the global economy has been under pressure, Taptap Send saw business grow eight-fold, the company said. The Series B is being led by Spark Capital, with participation also from Unbound, Reid Hoffman and Canaan Partners (both of which led its previous round, a $13.4
.” 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.
Agriculture insurance has traditionally relied on farm business. They include Senegal, Ghana, Mali, Nigeria, Ethiopia, Madagascar, Tanzania, Kenya, Rwanda, Uganda, Zambia, Malawi and Mozambique. In the U.S. or Europe with typically large farms, an average insurance premium is $1,000. million farmers.
According to Dario Giuliani , the firm’s director, the research organisation avoided using geography to define an African startup due to factors contributing to business identities like taxation, customers, IP, and management team. Senegal, the region’s top destination for VC funding dropped from $16 million in 2019 to $8.8
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?
According to the accelerator, six new countries home to these companies are making their appearance for the first time : Algeria, Tunisia, Senegal, Chile, Brazil and Singapore. YC says 16% of the companies in its current list (44 out of 267) are based outside the U.S., compared to its first list, which included just seven non-U.S.
Swizerland, India, Nigeria, Senegal and other geographies. YC follows the same trend, with pre-seed perhaps getting a boon in enthusiasm from the fact that late-stage businesses like Stripe or publicly-traded fintechs, like Robinhood and Affirm don’t feel exactly stable right now.
Dakar, Senegal: L’atelier de mise en place du réseau net2 Dakar. Dakar, Senegal: L’atelier de mise en place du réseau net2 Dakar. Net2Local has been busy over the last six months. With 50 groups in 20 countries there’s probably a Net2Local group near you, but if there isn’t ( sob !)
It’s also worth emphasizing that FTX’s business in Africa was not just another attempt to add to the platform’s overall volume; it was instead an area of focus for the company. It’s crazy — it’s the last thing anybody expected.” ” The repercussions for FTX’s meltdown are severe.
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. “As we keep reducing losses, we’re also working on other growth areas that aren’t showing yet, but we’re confident will pay off. million and total payment volume (TPV) decline 23.3%
Senegal is set to be home to a million new fruit and nut trees by the end of 2020; the country will host the largest number of trees being planted in a single place this year. The foundation partners with other organizations and forest services around the world that plant the trees.
Viola Vaughn "A group of failing schoolchildren in Kaolack, Senegal, once asked Viola Vaughn to help them pass their classes. Today, her 10,000 Girls program is helping girls succeed in school and learn business skills." ** Related blog posts • Vote for Ethiopia Reads' Yohannes Gebregeorgis as CNN's hero of the year from The Latest Word.
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.
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.
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. Before now, Appzone closed a $2 million round from South African Business Connexion (BCX) in 2014.
Ejara has more than 8,000 users from Cameroon, Ivory Coast, Burkina Faso, Mali, Guinea and Senegal, as well as French-speaking Africans in the diaspora (Europe, Asia and the U.S.), Yet, the company plans to also diversify into providing other assets, including fractional shares, stocks and commodities. .
The power grid supply in Africa is erratic and inconsistent, affecting rural and urban households and businesses. For restaurants or neighborhood stores dealing with perishables, frozen foods and beverages, having intermittent electricity inhibits the growth of their businesses. million in seed funding.
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
Part of the funding will go toward increasing access to clean energy for off-grid households and businesses in the region. The fund invests in at least half of companies that explicitly address the energy needs of women consumers and entrepreneurs in Africa, and those offering renewable energy solutions to businesses and households.
Peace Corps in Senegal in West Africa. I know you’re probably busy. I’m happy to send it to you afterwards. I like to say that I started my social media journey, and this is going to be surprising to many of you, when I served in the U.S. So this is really how I discovered the principles of communications and marketing.
Pedro Aznar, professor of economics with the Esade Business School in Barcelona, said the influx of foreign workers has helped Spain fare far better than Germany, the traditional motor of Europes economy, whose manufacturing industry is in crisis. We had two ways to deal with the challenge, the minister, Elma Saiz, told the AP.
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