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But the market might soon change as innovative products that run on micropayment or pay-per-use frameworks emerge under the support of institutions like the U.K.-funded We are planning to launch the BimaLab Insurtech Accelerator Program in Ghana and Nigeria.” funded Financial Sector Deepening (FSD) Africa. cents) a day.
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.
The company, which enables underbanked customers in select African markets to access a broad range of products and services without collateral or a guarantor, announced today that it has raised $75 million. In the company’s more established markets, Kenya and Uganda, customers can access the full suite of M-KOPA’s offerings.
Africa is the world’s third fastest-growing crypto market, with crypto adoption increasing by more than 1,200% over the last two years. That number has grown to more than 70,000, noted Iselema, adding that both products, Bitmama exchange and Changera, have seen massive uptake with minimal marketing.
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.
One company that is planning to drive the wave of telemedicine across the continent, as the Covid-19 pandemic rages on, is mPharma , a Ghanaian health tech start-up that is set to open 100 virtual centers across seven markets in Africa over the next six months. It is raising more funding to further grow its business across the continent.
While it appears to have figured out product-market fit, CEO Abdul Hassan is quick to remind everyone that the burgeoning API fintech space is just an entry point to its pursuit of being a data company — a case he also made in February. “The way I see it, our market is not that big.
Stabus, on the other hand , commenced operations in Ghana a month after Plentywaka’s launch. Then in April this year, Kpotufe, intrigued by the pace at which Plentywaka was scaling, asked Akumah if his company had plans to scale to Ghana. “Isidore is someone I’ve known for going to two years now.
African capital markets exist in silos, as various exchanges within the continent are often inaccessible to investors outside their home countries. Per reports , major regional exchanges in Africa have raised over $80 billion in equity capital markets and $240 billion in debt capital markets.
With other outlets like media publications WeeTracker and Disrupt Africa disclosing different results for the African venture capital market, we compared and contrasted their results last year. Rounding up the top five was Ghana with $111 million, displacing Rwanda which was fifth in Partech’s 2019 list.
Africa Health Holdings , a healthcare startup running several hospitals, has secured $18 million in a Series A round, funds that will go toward building its “tech-forward healthcare system” across Ghana, Kenya and Nigeria. Valiant Capital, Kepple Ventures and SUNU Capital. Valiant Capital, Kepple Ventures and SUNU Capital.
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.
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.
Millions of people in sub-Saharan Africa and emerging markets continue to live without access to electricity. Zola Electric , one such provider, is announcing today that it has closed $90 million in new funding to enter new markets and drive distributed renewable energy. The company has evolved since then. “More than 2.2
Taptap Send believes that its unique place in the market is that it has built not just the easiest, but the most reliable system to initiate, manage and receive those transfers. Taptap Send has been steadily growing and adding more countries to its list of served markets.
Salient surveyed over 80 companies across Ghana, Kenya, Nigeria, and Uganda, 25% more than the number it tracked in its last report in 2021. Online pharmacy regulations have been launched in Nigeria and Ghana and are in development in Kenya and Uganda.
With millions of Nigerians using danfo minibuses and okadas to commute to their various workplaces and destinations, mobility startups have sought to digitize the market. The Techstars-backed company is actively fueling its expansion across Nigeria and Ghana having raised more than $1.5
As the region continues to experience rapid growth in mobile usage and the corresponding growing young population, these fintechs think this is the right time to provide financial services to every market category, from the banked to the unbanked. I’d like to think that we’re the cheapest in the market. million to date.
Per sources, this includes growth, marketing and product departments. The company, having raised more than $90 million in total from investors such as Valar Ventures and Target Global, is also planning an expansion outside Africa to Pakistan. Kuda said in the email that affected staff cuts were made across various departments in the company.
MAX ) is planning to enter more markets across Africa as it races towards formalizing the continent’s transportation sector after securing $31 million in Series B funding. Nigerian mobility tech startup Metro Africa Xpress Inc. (
market to theirs — thrives on the notion that access to a financial ecosystem via open APIs will improve access to financial information and lower entry costs for the underbanked. . Mono has delivered on only Ghana, for now, piloting with a few banks and fintechs such as Oze and Tranzo. company if it decides to expand.
After completing his MBA program, he got to work on a three-month aquacultural project in Ghana, which ultimately led to a three-year role where he became CFO of an Accra-based farm. “I They raised an angel round to start Victory Farms before launching in mid-2016 to serve a market with about a $1.5 billion fish deficit.
Africans and people in emerging markets missed out on the first set of opportunities that technological advancements brought to the world. Africa’s cryptocurrency market grew by 1,200% to $105.6 By the time he left, three years after, Bundle was only live in Nigeria and Ghana with less than 100,000 active users.
But also really pushing towards what’s possible for business owners in Ghana and Nigeria, who has a smartphone in their pocket.”. OZÉ boasts of a client base of more than 125,000 business owners in Ghana and Nigeria. In Ghana, businesses can accept payments via mobile money or card and a bank transfer or card in Nigeria.
And in trying to sweet-talk investors, what’s not taken into context or often disregarded is that Africa is a fragmented $3 trillion market. Trade has the least startup activity in a market that received $5 billion in VC funding last year. The continent is also home to more than 1.2
But having started operations in Ghana, Kenya and Uganda, Afriex claims to be processing millions of dollars each month. On its website, though, Afriex states that customers can only send money to and from Nigeria, Ghana, Kenya, Canada and the U.S. At the time, Afriex was only present in Nigeria and the U.S.
The continent’s retail markets are highly fragmented and mostly made up of small and informal retailers and intermediaries, which is why a ton of tomatoes that costs around $100 in the U.S., After that, Twiga will look at other markets — Cote d’Ivoire, DRC Congo, Ghana and Nigeria.
Today, the company is announcing that it has closed $9 million in seed funding to scale its operational presence, recruit talent and expand into new markets. The company is led by CEO Nikolai Barnwell , betPawa’s former head of New Markets, Africa. This huge market is why mobile money is prevalent across the continent.
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. The logistics network also supports farmers to quickly access markets for better incomes and to reduce post-harvest losses and waste. million , including $6.4 debt funding.
Its services are used across seven African countries — Ghana, Uganda, Nigeria, Tanzania, Rwanda, South Africa and Kenya. allowing people to send money from the European nation to Chipper Cash’s African markets. to Nigeria and Uganda is currently live for users in those markets. In May, it expanded to the U.K.,
Nigeria leads the way again with five startups, while Egypt has four, Morocco has two, and Kenya, Ghana, Zambia and South Africa each have one. Amenli, founded by Shady El Tohfa and Adham Nauman in 2020, is addressing an untapped $2 billion market, being the first licensed online insurance broker in the country. Amenli (Egypt).
The startup has expanded beyond Nigeria and claims that merchants from the West African country, as well as Kenya, South Africa, Ghana and Rwanda, can use its platform to move freight in and out of their countries. The market for cross-border logistics services is said to hit revenues of $32 billion by 2025.
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.
That’s one of the reasons we launched AltSchool because if a lot of people can have marketable skills, then I think we can solve a massive problem in the market.”. It intends to launch the product modules, including product management, marketing and design, by Q2 this year.
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.
mPharma plans to grow its community ( Mutti ) pharmacies across eight markets in Africa to be the first point of care for patients. Patients in Ghana, Nigeria, Kenya, Zambia, Malawi, Rwanda and Ethiopia, where mPharma has a presence, now have access to the virtual services.
“When we realized that solutions designed for mature markets fail to address the unique infrastructure challenges Africa faces, we developed a tailored solution for power companies on the continent to improve daily grid supply of electricity.”. Bim Adisa (CEO). CrossBoundary gets $25M for solar mini-grids in Africa.
During his time at Huawei, Li Jian was an R&D algorithm engineer, representative of the Nigeria and Ghana offices, president of the West Africa region, president of Europe, and president of the Americas. Context: In 2024, Honor ranked fifth in smartphone shipments in mainland China, with a 15% market share and 42.2
Leta , a Kenyan B2B supply chain and logistics SaaS provider launched last year to optimize fleet management, is looking for growth opportunities in West Africa, even as it scales operations in its existing five markets. Our product has stabilized and we have a very good understanding of our sales process and our go-to-market strategy.
The fintech plans to enter Ghana later this year. Multi-service apps like Bolt, Uber and SafeBoda are already active in the motorcycle-ride hailing and delivery market. The Gojek (GoTo ) -backed super app, also available in Nigeria, has its eyes on other markets too. “We
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. Image Credits: Pezesha.
Founded in 2021 by Arindam Roy, Rajath KM and Kartik Mishra, Pillow is focused on emerging markets like Africa and Southeast Asia. It also recently expanded into Nigeria, Ghana and Vietnam, among other markets. Create a social media punch list for cryptocurrency marketing.
Bolt , the Estonian mobility tech company that recently closed a huge round , is planning to onboard an additional 200,000 drivers in Africa this year, as it kicks-off expansion to more cities within its existing markets while keeping up with the growing demand for e-hailing services across the continent. Image Credits: Bolt.
It also defines African startups as companies with their primary market, in terms of operations or revenues, in Africa — not based on HQ or incorporation. Ghana came fifth. Senegal took the fifth spot with $353 million, while Ghana was sixth ($167 million). In 2021, Nigeria retained the first spot ($1.8 or the U.K.
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