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The goal of these case studies is to raise awareness of the impact these nonprofits are making in SouthAfrica. Big Fish School of Digital Filmmaking provides video and broadcast training to young people. This township is one of the poorest areas in SouthAfrica. Art and Media. Environment.
The digital banking space in Africa is taking shape as neobanks on the continent grow in numbers like their global counterparts. Venture capital bet from institutional investors in this class of fintechs is massive and in the latest development from Africa, it seems individual investors appetite is increasing likewise.
A new report from Endeavor Nigeria reveals that Africa’sdigital economy and tech ecosystem is set to experience exponential growth periods. The report is dubbed “The Inflection Point: Africa’sDigital Economy is Poised to Take Off.”. The organization’s report intends to shed more light on Africa’s market dynamics.
But two months into 2020, the pandemic did an excellent job of lowering expectations as investment activities from local and international investors slowed down. Venture capital investment in Africa predicted to reach a record high this year. A handful of local acquisitions and a monumental exit. It wasn’t a bad year, though.
Others found ways to expand the opportunities within existing hometown industries: NCBiotech built pathways to bring more local residents into the Research Triangles booming life sciences sector. The citys locally owned Orion Amphitheater , the nexus of the $2.2 The initiative will also benefit local industry by slashing energy costs.
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, SouthAfrica, Uganda, Tanzania, Angola and Ethiopia by the end of next year.
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.” These are relevant localized data that have long been left out of the bigger pool of KYC and fraud prevention.
Its platform connects over 6,000 retailers to local and multinational suppliers — such as Namibia Breweries Limited, ABInBev, Bokomo, Coca-Cola, Namibmills — and digitizes orders, payments and logistics. And JABU — profiting from owning its supply chain — is making efforts to digitize its physical cash collection processes via wallets.
Founded by Kiaan Pillay , Natalie Cuthbert , and Priyen Pillay , Stitch wants to provide full API access to financial accounts across Africa starting from its first market, SouthAfrica. The founders draw on prior experience building API products for local markets in the past.
The company also claims to have processed volumes now reaching double digits in millions of dollars. But in Africa, Visa and Mastercard dominate the market share; for example, in SouthAfrica, the distribution of cardholders with Visa is 51% compared to Mastercard’s 48%.
Talk360’s payment platform will integrate “all payment options” in the continent — creating a diverse pool of localized payment options, making it easy for international and local businesses to sell to buyers residing in Africa. SouthAfrica’s Talk360 raises $4M to build single payment platform for Africa.
This is a gap that Talk360 is looking to bridge as it creates a new payment platform that will integrate all available payment options across Africa. This product, it says, will open up businesses to the largest pool of localized payment options in Africa.
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%. The local investors involved are all founders.
New report examines Africa’s growth in the digital economy and VC investment landscape. Africa-wide Growth. In a period of two years, Adanian Labs has grown beyond Kenya, by establishing a presence in Tanzania, Zambia, SouthAfrica and Nigeria – some of the biggest startup and tech hubs in Africa.
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.
Like many startups playing in the B2B e-commerce space across the continent, Chari digitizes the largely fragmented FMCG sector in Morocco and Tunisia. Chari, a Moroccan startup digitizing mom and pop stores, raises $5M at $70M valuation. Last October, the YC-backed company acquired Moroccan ledger book Karny.ma.
“Despite the challenges that emerged in the second half of the year, 2022 was another year of growth for Africa in terms of total funding raised, number of deals and number of investors involved. Africa predicted to experience sustained funding slowdown in 2023 Most tech observers share Cuvelier’s thoughts on VC activity in Africa.
Micro and small businesses in emerging markets still struggle to access digital payments for several reasons. The plan for the company is to provide merchants with access to accounts, cards, local payment networks and lending. and the UAE in their local currencies — dollars, pounds and dirhams, respectively.
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, SouthAfrica, Rwanda, Senegal, Togo, Tanzania, Ivory Coast, Egypt, Mauritius and Burkina Faso.
Africa’s beauty and personal care market is growing accelerated by its growing young and fashion conscious population, increasing spending power, and urbanization. Niche local brands are also emerging to offer tailored beauty and skin care products. Image Credits : Uncover Skincare.
“We want to encourage a high percentage of capital into regions outside the four main markets (SouthAfrica, Kenya, Egypt and Nigeria) as much as we can. The Impact Rooms team is currently spread across the world with some of its experts in Kenya , Zambia, Ghana, SouthAfrica, Puerto Rico, Australia, US, UK and Switzerland.
The startup hopes that the Series A funding will drive its presence in 12 countries, including SouthAfrica, Kenya, Ghana and Saudi Arabia. Image Credits: By 2030, it is predicted that the number of youths — people between the ages of 15 and 24 — in Africa will increase by 42%, according to the UN.
So far, the company partners with media buying and advertising agencies and works with over 100 local and multinational brands across Africa, the Middle East and South America in the automotive, healthcare and technology industries. Fergany also said Convertedin is eyeing SouthAfrica and India too. “We
There are two kinds of restaurants where the majority of our focus is on — the bukkas [local restaurants] and the small restaurants, for instance,” Orda co-founder and CEO Guy Futi told TechCrunch in an interview. With its cloud-based software, Orda wants these businesses not to rely on manual ways of managing their businesses. .
Per reports , major regional exchanges in Africa have raised over $80 billion in equity capital markets and $240 billion in debt capital markets. While local retail apps such as Bamboo and Chaka offer U.S. That was the year MTN Ghana, a local telecom operator, went public in the West African country after raising about $237 million. “I
NALA , a Tanzanian cross-border payments company that recently pivoted from local to international money transfers, said Thursday it has raised $10 million in a new fundraising round. In that time, NALA built a mobile money service in East Africa and scaled it to more than 250,000 users. and the E.U., country, probably France.”.
KlashaCheckout allows merchants outside Africa to collect payments from six countries on the continent — Nigeria, Zambia, Tanzania, Uganda, SouthAfrica and Kenya — and get paid in G20 currencies like dollars, pounds or euros.
Here’s your monthly update from the world of NetSquared Local. What Is NetSquared Local? NetSquared Local is TechSoup's volunteer-driven network of nonprofit tech meetups and salons. NetSquared Local groups hold monthly in-person events for anyone interested in the connection of technology and social impact.
Digital Media and Learning Conference. Digital Media and Learning Conference. Digital Media and Learning Hub / Irvine, CA / $175. State/Local / #MCNAC16 / @SmartNonprofits. State/Local. State/Local / #MadisonNonprofitDay / @nonprofitday. State/Local. State/Local / #2016PSWAC / @southwestfdns.
clients “have some sort of global operations.” “Now, if you use Brex, you can actually operate as if you were a local company with a local card.” seed round And elsewhere Digital wallet for insurance Marble bags $4.2M. with support from Dwyane Wade and Baron Davis Black-owned tech firm Greenwood acquires digital banking rival.
Manufacturers use DataProphet at different points on their digitization journeys; data collation and centralization are crucial to kickstart them. and South America. Some of its competitors — which are international, not local — include Braincube and Seebo. “I
Cloudy day : Google’s first cloud region in Africa launched in SouthAfrica. Annie and Tage write that this move “allows for the localization of applications and services” and for businesses to more quickly deploy capabilities — for example, artificial intelligence, machine learning and data analytics.
When companies create digital payments-facing solutions for African countries outside Nigeria and SouthAfrica, building around mobile money is key. PawaPay handles local operations, compliance, regulatory cover and bank accounts, making it simple to receive payments in a new market. It’s literally a no-brainer.
The lack of interoperability between African currencies is primarily behind why a Kenyan business owner who wants to pay an invoice to another business owner in SouthAfrica with either shillings or rands ends up using the dollar — the currency that powers almost 80% of Africa’s bilateral trade.
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. million seed round to provide insurance services for Egyptians.
His win came when the global appetite for Amapiano, a style of house music that emerged in SouthAfrica , and Afrobeats, a popular music genre that originated from Western Africa , had increased exponentially. For now, we’re going to still stay at a collective. But when it’s time to grow, I’ll need nobody to tell me.
It covers Uber’s operations across 40 countries when Uber was still run by co-founder Travis Kalanick, who took an aggressive approach to bringing the ride-hailing service into cities around the world, even when doing so would break local laws and taxi regulations.
I was very fortunate that in October 2004 in SouthAfrica, there was a meeting of social change market places that was convened, and I met Buzz Schmidt, Founder of GuideStar. It is now almost customary that at every workshop, a leader emerges from the group who offers to create a local NGO WhatsApp group.
Tebogo Mokwena , co-founder and CEO, Akiba Digital. Klasha is a technology company that allows international merchants such as H&M or Zara to receive payments online in local African currencies and money methods. to improve cross-border commerce in Africa. Tebogo Mokwena, CEO, Akiba Digital.
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. Ouagadougou, Burkina Faso: Monthly Meeting of Local Members. Sunday, September 3, 2017.
Companies (like digital mortgage lender Better.com) couldn’t keep up and had to go on a hiring spree to meet all the consumer demand. Digital mortgage lender Better.com conducted its first of four layoffs in the past nine months on December 1, 2021. This led to a boom in business for startups catering to home buyers. Then 2022 came.
What are ways of translating early warning dashboards captured at the global level into local action? Digital Agriculture Product Manager, World Food Programme Digital Transformation Unit, Nairobi. Casper has 12 years of experience in managing scalable digital solutions in developing countries. Casper Stryndom.
Your local NetSquared group is here to help with free, in-person events being held across the U.S. Kampala, Uganda: Digital Storytelling for Nonprofits Workshop. Ouagadougou, Burkina Faso: Monthly Meeting of Local Members. Matloding, SouthAfrica: Technology for Rural Development. Feeling overwhelmed?
Micromax Informatics once had a firm grip on the local mobile phone market in India, for a time passing stalwarts like Samsung, icons like Apple and many more to be the biggest handset maker of them all. In 2014, Micromax poached Samsung’s country head for mobile and digital imaging Vineet Taneja and appointed him the CEO.
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