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Bento , Nigeria’s digital payroll and human resource management platform is expanding to Ghana, Kenya and Rwanda with plans to set up operations in six other markets in Africa over the next one year. In its next phase of expansion, Bento is eyeing Egypt, South Africa, Uganda, Tanzania, Angola and Ethiopia by the end of next year.
Meanwhile, it was just last August that the digital bank, which provides zero to minimal fees on cards, account maintenance and transfers and is one of Africa’s soonicorns, raised $55 million — money that it planned to use to not only double down on new services for Nigeria but also to prepare its launch into more countries on the continent like Ghana (..)
An alternative payment network with connected wallets allowing a mobile money user to transact with a bank account would fix this problem, and that’s the premise of Ghana-based fintech Dash. Today, the unified payments app is announcing that it has raised $32.8 million in an oversubscribed seed round.
OZÉ , a Ghanaian fintech startup that provides digital recordkeeping tools with embedded finance products to medium and small businesses, has raised a $3 million pre-Series A round. But also really pushing towards what’s possible for business owners in Ghana and Nigeria, who has a smartphone in their pocket.”.
The tech startup plans to use its network of pharmacies to build what they describe as a digital primary care service. Patients in Ghana, Nigeria, Kenya, Zambia, Malawi, Rwanda, and Ethiopia, where mPharma has a presence, are set to benefit from the virtual consultations.
A couple of digital freight companies are tackling this problem, like Nigerian-based MVX. What followed was the launch of MVXtransit, a digital freight booking platform, helping cargo owners find deals on moving containers across Nigeria. In Africa, chartering vessels and processing ocean freight can be challenging.
However , it has expanded its pay-as-you-go model to include other needs: smartphones (launched in Kenya two years ago), TVs, refrigerators, solar lighting and digital financial services such as cash loans and health insurance. For Ghana, its newest market, they say it “has grown two times as fast as any of its previous markets.”.
While Africa’s health systems are still reeling from the effects of the COVID pandemic, the adoption of digital health services has been revved in some countries. These startups digitize the supply chain and distribution to providers. “The However, a particular segment has achieved scale faster within the past year.
During his time at Accra in 2016, he met Quao, a trained pharmacist in Ghana at a hackathon whereupon talking found out that their interests in medical testing overlapped. Beattie says to TechCrunch that while he saw many exciting new tests in development in the US, he didn’t see the same in Ghana.
There’s no shortage of digital banks in Nigeria and, in general, in Africa. In the latest development, Umba , a digital banking platform operating in Lagos, Nigeria, has raised $15 million in Series A funding. Umba, a digital bank for emerging markets, raises $2M Seed funding to expand across Africa. million to date.
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 startup told TechCrunch that it will use the funding to enter Ghana and Egypt by the end of the first quarter of 2022, and other additional markets in Francophone, East and Southern Africa by the close of the same year. Nigerian mobility tech startup Metro Africa Xpress Inc. (
The digital bank has seen some success since launching in Nigeria in 2019. Kuda claims to have up to 5 million users, more than thrice the number it had last August during its $55 million Series B round , money it raised to enter into other African countries like Ghana and Uganda this year. Kuda takes digital banking play to the U.K.
It is this missing connection that Emtech , a central bank digital infrastructure provider, is looking to fill through its digital regulatory platform, which aims to fast-track the reach of fintech products to market. Emtech has now moved into production following the successful pilot in Ghana last year.
Boampong founded the Ghanaian fintech in 2019 and is one of Africa’s well-known serial entrepreneurs after co-launching OMG Digital , a YC-backed Ghanaian media startup, in 2016. Last March, the Ghana-founded and New York–headquartered Dash raised $32.8 Kinyua assumes the role of interim CEO.
The funding comes at a time when Farmerline, which has operations across Ghana, is setting up shop in Ivory Coast as it continues its expansion across West Africa. We are thrilled to support Farmerline Group and smallholder communities across Ghana and Ivory Coast.”. The new funding brings the total amount raised in the round to $14.4
It provides merchants via its PalmPartner app with online payment and offline POS acquiring services and plans to introduce digital marketing services soon. Since its Nigerian launch in 2019, PalmPay has expanded to Ghana, serving over 5 million users, per information on its website. That’s why it made the push into Ghana.
million in a pre-Series A round, to tap the opportunities in emerging markets, where digital lending apps have recently sprung up in droves. Bfree is now on a massive recruitment drive for the 16 new markets in which it is setting up operations, including Ghana, India, Uganda, Brazil, Colombia, Mexico, Russia, Poland, Pakistan and Indonesia.
To bridge the gap, Uganda-based fintech Numida , has opted to focus its digital lending business on small enterprises as part of its strategy for driving financial inclusion in emerging markets. Ghana’s fintech Fido raises $30M to roll out new products and expand across Africa.
MarketForce, a Kenyan B2B retail and financial services distribution startup, has expanded into five additional markets across Africa to grow RejaReja — its retailer ‘super app’ that makes it possible for informal merchants to order and pay for inventory digitally, accept payments for utility bills, and access financing for their businesses.
That was the year MTN Ghana, a local telecom operator, went public in the West African country after raising about $237 million. “I Nigeria is a silo, same with Ghana, Kenya and South Africa etc. The fintech, launched in 2020, is eyeing capital markets in Ghana, Kenya, Nigeria, South Africa, Morocco and Egypt.
It supports 10 digital assets, including Bitcoin, Ethereum, Solana, Polygon, Axie Infinity and USD-backed stablecoins USDC and USDT, and plans to expand to over 50 assets in the coming months. It also recently expanded into Nigeria, Ghana and Vietnam, among other markets.
Since leaving the university in 2014, he has co-founded several tech startups but made his mark globally with OMG Digital, a startup with offices in Ghana and Nigeria that wanted to become the “ BuzzFeed of Africa.” ” In 2016, OMG Digital was one of the first African companies accepted into Y Combinator.
From Nigeria, Indicina facilitates lending for individuals and small businesses through AI-powered digital credit infrastructure. Jetstream allows businesses to export goods across borders and access trade financing in Nigeria and Ghana.
Patients in Ghana, Nigeria, Kenya, Zambia, Malawi, Rwanda and Ethiopia, where mPharma has a presence, now have access to the virtual services. Starting in Ghana, they are initially only dispensing over-the-counter medication, but with plans to include prescription drugs in the near future.
But when it comes to being a software engineer or digital skills, you really don’t,” said the CEO. “We These applications came from 19 countries (including 14 African countries) and Yusuf said the company received the most entries from Nigeria, Ghana, Uganda, Kenya and Botswana. .
million pre-seed funding to enable users grow their revenue streams through digital collectibles. The startup’s marketplace, Ayokenlabs , will feature digital collectibles from musicians, sports brands and influencers from all over the world. Ayoken, an NFT marketplace for creatives, has raised $1.4
The CAIMs solves this by factoring in the unique conditions within which Africa’s utilities operate, for example, poor address systems, and helps them digitize their data, which serves as a foundation for network improvements. Bim Adisa (CEO). Persistent Energy raises $10M to grow its clean-tech venture building business in Africa.
It will start its expansion in Ghana before expanding to the neighboring Ivory Coast, accelerated by a fresh $12.9 We think of ourselves as the Amazon of farmers… a digital and physical infrastructure powering a marketplace that allows the movement of goods and services to and from rural areas,” said Attah. “We million ($6.4m
From Onayemi’s point of view, the growth of Africa’s digital economy revolves around gains in six segments: education, payments, logistics, transport, identity, and trade. These countries include Nigeria, Kenya, Ghana, South Africa, Rwanda, Senegal, Togo, Tanzania, Ivory Coast, Egypt, Mauritius and Burkina Faso.
The fintech’s new growth strategy follows its plan to power its embedded finance offering beyond its current markets, including Uganda and Ghana, to bridge the financing gap affecting millions of micro, small medium-sized enterprises (MSMEs) across these markets.
In December 2021, Uganda’s multi-service and digital payment technology platform SafeBoda became the first startup in the continent to receive investment from the Google fund. The fintech plans to enter Ghana later this year. Still in 2021, Mobility 54 joined DOB Equity and InfraCo Africa to invest $3.4
The business opportunity for remittance is lucrative despite digital lenders vying for less than 20% of the international money market dominated by traditional offline players. in average transaction fees, digital senders like NALA pitch themselves to customers as platforms with the best rates and lowest prices. and the E.U.,
“Although the cargo owners and freight forwarders have a lot of information asymmetry, the importer and exporter can put pressure on the freight forwarder to digitize the supply chain. Ghana’s Jetstream lands $3M to build the digital infrastructure for Africa’s trade corridors.
Partech Africa covers equity deals in tech and digital spaces and funding rounds higher than $200,000. Ghana came fifth. Senegal took the fifth spot with $353 million, while Ghana was sixth ($167 million). Partech : Its 2020 report had Nigeria on top, with Kenya, Egypt and South Africa rounding up the top four.
When companies create digital payments-facing solutions for African countries outside Nigeria and South Africa, building around mobile money is key. It’s literally a no-brainer. PawaPay handles local operations, compliance, regulatory cover and bank accounts, making it simple to receive payments in a new market.
In 2020, it selected 20 startups into the program (eight from Nigeria, six from Kenya, two from South Africa and one each from Ghana, Tunisia, Ethiopia and Zimbabwe). Formerly known as Google Launchpad Accelerator, Google for Startups Accelerator Africa has worked with up to 50 startups across 17 African countries.
According to a McKinsey report, most African countries have experienced double-digit insurance growth in CAGR in local currency over the last five years, thus positioning the region as the second-fastest growing for insurance globally after Latin America. As many as 2.8% Despite the abysmal number, there’s some good news.
Pula , a Kenyan insurtech startup that specialises in digital and agricultural insurance to derisk millions of smallholder farmers across Africa, has closed a Series A investment of $6 million. They include Senegal, Ghana, Mali, Nigeria, Ethiopia, Madagascar, Tanzania, Kenya, Rwanda, Uganda, Zambia, Malawi and Mozambique.
Stephen Deng, the co-founder and partner of DFS Lab, a firm that invests in digital commerce startups, serially compared the 2016 Southeast Asia funding landscape to where Africa might be in 2021, at $3 billion. Digital payments gateway MFS Africa is one of Africa’s few corporate investors and acquirers. billion and $2.8
The idea for the YC-backed Ghanaian fintech came during the chief executive’s time at OMG Digital, a media company he founded that also got into YC , in 2016. “We CEO Jesse Ghansah started the company, formerly known as Swipe, with Barima Effah in 2020, and following its rebrand as Float, went live with its product in June 2021.
But ebooks and audio books are by far the most popular accessible formats, and publishers do sell them (although ironically many of these have digital rights management technologies designed to defeat illegal copying but also stop accessibility technology).
And we saw that we were perfectly placed on building a fintech solving the problems of Africa’s gig economy workers, freelancers and self-employed digital workers.”. The investment will go into expanding its 50-man team, amping up its technology and exploring new markets like Ghana and Egypt, the founders said.
By the time he left, three years after, Bundle was only live in Nigeria and Ghana with less than 100,000 active users. ” To understand how Nestcoin works is to look at the Digital Currency Group (DCG). Nestcoin’s products cut across Decentralized Finance (DeFi), media, digital art and gaming. .
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