This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
The onset of the pandemic has led to increased demand for digital banking options across customer income groups around the world. We’ve seen how digital banks like Zolve and Nubank have raised money in recent months to fill this need. This time, a startup from Africa has joined the party. and Philippines.
Insurance lags behind other financial services in the adoption of digital technologies. Granted, a few unicorns have popped up from the modern digital insurance space such as Tractable and Lemonade; however , this sector hasn’t raced to the stage as quickly as say, payments or lending.
However , ubiquitous access to such care is scant across Sub-Saharan Africa. There is a real opportunity for digital healthcare platforms to scale access to team-based care across the region. The pandemic has seen such platforms scale globally, and Africa is not exempt. As a Sweden-based telehealth company, Doktor.se
The general perception of insurance on the continent has been bland for years, and its penetration rate, except SouthAfrica, is subpar. Per a McKinsey study in 2018, Africa’s insurance market stood at a 3% penetration rate; with SouthAfrica excluded, it was 1.12%. In the news today is one such company: Casava.
Last year, the company also said it acquired an international money transfer license with a WorldRemit partnership also in the works. Nigeria is Africa’s most populous nation, and with a large share of its people underbanked and unbanked , fintech is arguably the most promising digital sector in the country.
In a statement shared with TechCrunch, Smile Identity said it is “actively fulfilling regulatory requirements to finalize the transaction for the [Inclusive Innovation] affiliated entities in Africa.” Document verification and face recognition and matching comprise Smile Identity’s base-level product that works across Africa.
Nigeria leads the way again with five startups, while Egypt has four, Morocco has two, and Kenya, Ghana, Zambia and SouthAfrica each have one. Africa has the lowest insurance penetrations globally. FloatPays (SouthAfrica). Some have established businesses in both these regions and also in Africa.
Before Dash, Boampong was the co-founder of OMG Digital, a YC-backed Ghanaian media startup he started alongside Jesse Ghansah — the current CEO of Float — in 2016. . Today, the unified payments app is announcing that it has raised $32.8 million in an oversubscribed seed round. African tech took center stage in 2021.
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.
The Kenyan fintech Kwara was launched in 2019 to help credit unions (savings and credit cooperatives societies, SACCOs) in the East African country shift to digital platforms by providing them with its proprietary Back-end-as-a-service (BaaS) software. About 175 credit unions are licensed in Kenya to serve nearly 4.1
When companies create digital payments-facing solutions for African countries outside Nigeria and SouthAfrica, building around mobile money is key. We want to be completely covered in all the markets, with full licensing and be a very stable reliable premium product in these markets,” he added.
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. With Africa being the most expensive region to send money to, with 10.6% We also got our license approvals to go live in the U.S. and the E.U.,
Kwara, which also has a presence in SouthAfrica and the Philippines, has grown its clientele base to 120 from 50 at the end of 2021, maintaining a 100% customer retention — a proof of the value it delivers to its clients. In Kenya, only 175 deposit-taking saccos are licensed, as a vast majority remain unregulated.
Nigeria is a silo, same with Ghana, Kenya and SouthAfrica etc. Our potential client base is much broader than one type of institution; so long as the broker has a digital play, they can use our infrastructure to access African exchanges.”. SecondSTAX is the third circle and acts as a gateway to the fourth circle, the exchanges.
The average penetration rate for insurance in Africa is between 3% to 5%. SouthAfrica makes up a large bulk of it; without it, the continent is on a 1% to 2% rate even with other developed technology and financial markets like Kenya, Nigeria and Egypt. Life after YC has been great for Amenli.
Part of the new round will be use to apply for financial licenses in Singapore, Hong Kong and SouthAfrica, and partner with banks and financial institutions, like payment gateways. “We dollar liquidity, tools to conduct trade in digital fiat currencies. XREX’s last funding was a $7 million seed round in 2019.
The tech startup plans to use its network of pharmacies to build what they describe as a digital primary care service. The doctor will also be in a place to request for rapid diagnostics tests to be carried out, a service that will be supported by a licensed community health nurse as the medic consults remotely.
And, despite violent protests and attacks on drivers that date well beyond 2017, Uber has continued to operate in countries and cities where local regulators say drivers must have a license to operate a taxi service. Later that year, Macron signed off on a decree relaxing requirements for licensing Uber drivers.
We know that good stories power fundraising and marketing, so join one of our free events to discover powerful case studies and connect with digital storytelling experts in your community. Gulu, Uganda: Adobe Spark Digital Storytelling. Mahikeng, SouthAfrica: Rural Tech Empowerment. Sunday, September 3, 2017.
region in southern China is the poster child of digital dumps and bad electronics recycling. China does have a national law called The Management Regulations for Recycling and Disposing of Consumer Electronics and Electronic Waste that bans e-waste and imports, and requires processors to be licensed. Infographic courtesy of Fonebank.
In the coming decades, Africa will be a significant growth market for mobile games, driven by the proliferation of technology adoption among the continent’s youthful population. South African music artiste Nasty C (far left); Carry1st co-founder and COO Lucy Hoffman (far right). Image Credits: Carry1st.
He has weighed in on elections in Germany on behalf of a far-right party, sparred with the government of his native SouthAfrica, and called for the removal of the president of Ukraine , not to mention the two-month siege he has waged against Americas federal bureaucracy. But one country tends to get a pass from the worlds richest man.
We organize all of the trending information in your field so you don't have to. Join 12,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content