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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.
However , they seem to be doing quite well compared with traditional banks that face challenges like legacy cost structures and a major lack of operational efficiency. Other countries with a presence include the Democratic Republic of Congo, Ghana, Gambia, Guinea, Tanzania and Senegal. Appzone is a fintech software provider.
Some examples of Seedstars’ portfolio companies include Pakistan e-commerce startup Dastgyr; Saudi Arabian cloud-based point-of-sale and restaurant management system Foodics; Indonesian workforce marketplace MyRobin; Latin American restaurant CRM OlaClick ; and Nigerian B2B marketplace Omnibiz.
Last October, it had 8,000 users from Cameroon, its first market and others including Ivory Coast, Burkina Faso, Mali, Guinea, and Senegal. The competition for treasury bonds is with the traditional asset managers and banks. As a result, users on the platform have grown in multiples over the last 14 months.
Jumia reaches lowest losses in four years under new management In Q4 2022, Jumia embarked on a streamlining effort that reduced its headcount by 20%, affecting 900 roles across 11 markets. 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.
Outside the top four countries, startups from Ghana, Algeria, Tunisia and Senegal raised the most equity funding. Partech: Nigeria represented 23% of African tech’s total equity funding. South Africa takes the second spot with 17%, Egypt at third at 16%, and Kenya at 15%. Kenya is a close second with $1.1
In 2019, teams across Senegal, Bangladesh, Mexico, and Indonesia painted a total of 250,000 small household rooftops with white reflective pain as part of the Million Cool Roofs Challenge. The power of paint Many cities have turned to paint to alleviate urban problems like the heat island effect. In 2022, the city of L.A.
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