Sobertech Addiction Recovery | Insurtech Startup Inclusivity Solutions | Biotech Startup Cancer Genome Project | Healthcare Startup Funding | Hurupay Tackles Currency Fluctuations

SoberTech Leverages Tech to Transform Addiction Recovery Across Africa – TechinAfrica

SoberTech, founded by engineer Dinah Lugard, is expanding its innovative addiction recovery outreach program from Nigeria and Ghana to South Africa. Through technology, it aims to make recovery accessible, engaging, and stigma-free. “SoberTech’s vision is digital rehabilitation across the globe. We want to create a lasting impact and a world where people struggling with addiction have judgement-free support and captivating resources for sobriety,” said Lugard.

Beyond raising awareness, SoberTech offers tailored support and essential resources to those in need. At its core is increasing awareness, particularly among youth, about substance abuse dangers while providing tangible assistance. It equips rehab centers with cutting-edge devices, making recovery more effective and engaging, and awards scholarships to students in rehab. Lugard pioneered the SoberTech app, offering non-judgemental support to reduce the stigma often associated with addiction recovery. Read more here: 

South African Insurtech Startup Inclusivity Solutions Raises USD 1.5 Million in New Funding Round – Africanheroes

Impact investor Goodwell Investments has successfully concluded an extension round with Inclusivity Solutions, an award-winning insurtech company specializing in embedded insurance solutions. Goodwell, renowned for funding African enterprises providing essential services to low-income populations, initially led Inclusivity Solutions’ Series A funding round in 2019. This latest extension round, which raised a total of USD 1.5 million, underscores Goodwell’s confidence in Inclusivity Solutions’ ability to revolutionize insurance access in emerging markets.

The investment will bolster Inclusivity Solutions’ expansion efforts, which include plans to operate in a minimum of 12 African markets by the end of 2024. Additionally, the company will continue to invest in its highly acclaimed no-code, open-API platform, facilitating the rapid deployment of a wide range of insurance products for distribution partners and insurers within hours. Read more here: 

Nigerian Biotech Startup, Syndicate Bio Collaborates With NICRAT to Launch Cancer Genome Project – Techtrends

The National Institute for Cancer Research and Treatment (NICRAT) and Nigerian biotech startup Syndicate Bio have announced a strategic partnership to launch the Cancer Genome Nigeria project. The study’s goal is to close the gap in cancer disparities by examining the most common cancers among more than 300 ethnolinguistic groups and Nigeria’s six geopolitical zones.

Along with Drs. Jumi Popoola and Estelle Dogbo, Syndicate Bio was founded in September by Dr. Abasi Ene-Obong, the former founder and CEO of the now-defunct Nigerian genomics startup 54gene. Through partnerships with governments, pharmaceutical companies, academia, and other important industry stakeholders, Syndicate Bio is deepening the impact of precision medicine locally while producing priceless datasets that improve global health outcomes and speed up drug discovery and development.

The strategic cooperation between the firm and NICRAT would involve a concerted effort to address cancer detection and treatment for Nigerian patients. Through this project, patients in Nigeria would have greater access to targeted therapies by increasing the availability and accessibility of next-generation sequencing (NGS) based cancer testing in the nation. Read more here: 

Healthcare startup raises $3.6 million to expand to other countries including Nigeria – Nairametrics

According to a post on X (formerly Twitter) by Techpoint Africa, Egyptian Healthcare startup, Almouneer, has raised $3.6 million to expand to other countries including Nigeria.  Global Ventures led the seed round with participation from Wrightwood Investments, Proparco and Digital Africa through the Bridge funds and other international funds.

Almouneer aims to transform healthcare for people living with chronic conditions like hypertension and diabetes.  Chronic diseases impact on Subsaharan Africa and Nigeria. The Lancet reports that there is a rising burden of non-communicable diseases in Subsaharan Africa.

Currently, non-communicable diseases also known as NCDs are the leading cause of death in the world killing 41 million annually (70% of deaths).  In Nigeria, nearly 30% of all deaths are due to NCDs. The risk of premature death from NCDs among Nigeria’s 30-69-year-olds is 22%. Among these NCDs, the top four killers are cardiovascular diseases like hypertension, cancers, respiratory diseases and diabetes.  Read more here: 

Ghana’s Hurupay tackles currency fluctuations with stablecoin-based payments platform – Disrupt Africa

Ghanaian startup Hurupay is helping businesses and individuals across Africa overcome the negative impacts of fluctuating local currencies by allowing them to make and receive stablecoin-based payments.

Formed earlier this year, Hurupay is a crypto wallet that enables users to access stablecoins, which are non-volatile cryptocurrencies pegged to the value of the US dollar at a ratio of 1:1. The platform is designed to help SMEs and individuals mitigate the negative impacts of depreciating local currencies against the dollar on their income and growth, by providing a more stable and reliable payment method.

Businesses can accept stablecoin payments from customers simply by scanning QR codes, and pay suppliers with zero fees. Individuals can save money in dollars and stablecoins, send and receive money across borders with very low fees, and pay at shops. The idea for the platform came to co-founder and CEO Philip Mburu, a Kenyan, when he relocated to Ghana in September 2021. Read more here: 

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Revio fintech to reduce failed payments | ProLocums Healthcare Staffing Solution | Google Hustle Academy Fund for Small Businesses | LexiGenius AI-Powered Writing App

South African fintech, Revio raises $5.2 million to reduce failed payments for businesses – Techpoint

Less than 10% of payments in Africa occur through digital channels, signifying an immense opportunity for financial institutions on the continent. McKinsey estimates that revenue in the electronic payments sector will grow by 20% each year, reaching $40 billion in 2025. Despite this opportunity and a growing number of players in the space, payments remain a pain for many businesses. However, payment orchestration startups like Revio help to simplify the process by providing businesses with an API for seamless payment collection.

The three-year-old startup has raised a $5.2 million seed round led by QED Investors, and is the firm’s third investment in an African startup following its Moniepoint and Remedial Health investments. Speedinvest, Ralicap, Everywhere VC, and Partech joined the round. QED’s previous investments in Moniepoint and Remedial Health have been growth-stage investments, but after breaking from tradition, Ruaan Botha, Revio’s CEO, hopes it spurs other investors to join the early-stage investing train. Read more here: 

ProLocums Unveils its Revolutionary Healthcare Staffing Solution in Nigeria – Techeconomy

ProLocums, a healthcare staffing platform, has officially launched its revolutionary healthcare staffing solution in Nigeria. With a strong focus on a pressing challenge in the healthcare sector, ProLocums aims to transform how healthcare professionals connect with locum opportunities that match their expertise and availability.

Its mission is to bridge the gap in the healthcare industry by offering a wide range of opportunities for medical doctors, medical officers, dentists, pharmacists, midwives, optometrists, nurses, medical lab scientists, physiotherapists, veterinary doctors, auxiliary nurses, pharmacy technicians, and dental assistants.

The Nigerian healthcare sector has grappled with numerous difficulties, including a shortage of skilled professionals, inadequate coordination, and issues related to salaries and welfare. These challenges have resulted in a significant portion of healthcare practitioners seeking employment opportunities abroad, leaving gaps in the local healthcare workforce.

According to the Nigerian Medical Association (NMA), approximately 3,000 to 3,500 doctors graduate from medical colleges annually. Read more here:

Google Launches ₦75 Million Hustle Academy Fund to Boost Nigerian Small Businesses – Tech In Africa

Today, Google has declared the commencement of application processes for the Hustle Academy SMB Fund. This is a specific ₦75 Million fund provided without the necessity for equity return. This move underscores Google’s unwavering commitment to fostering entrepreneurial dreams and bolstering the growth of Small and Medium Businesses (SMBs) within Nigeria.

In Nigeria, small and medium-sized enterprises are fundamental to the economy, yet they consistently encounter significant obstacles, especially in obtaining crucial funding. As stated by the World Bank, African SMBs are facing a notable financing gap, approximated at $330 billion. Additionally, the opportunity to secure bank loans is scarce, with a mere 25% of African SMBs having access, compared to 50% in more developed economic regions.

Launched in 2022, Google’s Hustle Academy is dedicated to offering SMEs education in business and management, mentoring, and networking opportunities. It focuses primarily on equipping them to present their businesses effectively to garner the essential funding for elevating their operations. Since the beginning, over 4,000 SMBs in Nigeria have successfully graduated from the program. Impressively, 74% of the first-year graduates have reported significant business expansion. Read more here: 

Nigerian Develops LexiGenius, an AI-Powered Writing App – Techeconomy

Amidst this digital landscape and the perceived lack of opportunities for local AI advancement in Africa, Olatunbosun Amao, a Nigerian content producer and scriptwriter, has launched LexiGenius, an AI-powered writing app. The writing tool with AI power offers a number of features that have been carefully laid out to aid savvy writers, students, researchers, and professionals. The software, in Amao’s opinion, has the potential to significantly support Nigeria’s digital sector by enhancing content creation, boosting productivity, enhancing education, and fostering innovation.

Amidst this digital landscape and the perceived lack of opportunities for local AI advancement in Africa, Olatunbosun Amao, a Nigerian content producer and scriptwriter, has launched LexiGenius, an AI-powered writing app. The writing tool with AI power offers a number of features that have been carefully laid out to aid savvy writers, students, researchers, and professionals. The software, in Amao’s opinion, has the potential to significantly support Nigeria’s digital sector by enhancing content creation, boosting productivity, enhancing education, and fostering innovation.

According to him, it can position the nation as a competitive player in the global tech arena, attracting investments and fostering economic growth while nurturing a skilled workforce. Amao asserts that LexiGenius combines a variety of essential elements in its AI technology to give subscribers a user-friendly experience. Several user templates, machine learning strategies, adaptive suggestions, a user-friendly interface, and customization choices are some of the essential elements. Read more here: 

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Image Credit: Tech In Africa

TECHGhana’s mPharma downsizes | Itana raises $2 million | 40% fintech security issues | AltSchool launches new schools | DRC-based Itot learning services | Flutterwave Expands to India

TECHGhana’s mPharma downsizes amid economic challenges – Ripples News

Ghanaian healthtech platform mPharma, founded in 2014, has made a significant workforce reductions amid challenging economic conditions in Africa.

The startup, which raised around $90 million in funding, including $30 million in 2022, has announced the layoff of 150 employees due to macroeconomic conditions linked to the devaluation of the Naira.

This step is aimed at ensuring the continued service of over 200,000 patients who rely on mPharma’s Mutti service, the startup’s online pharmacy service.

The economic challenges faced by mPharma are not unique. Several startups across Africa have had to take drastic measures to adapt to the tough economic climate. Read more here: 

Itana raises $2 million pre-seed to build Africa’s first digital free zone – Nairametrics

Nigerian startup, Itana, formerly known as Talent City, has raised $2 million in a pre-seed that will power its dream of building Africa’s first digital free zone.

The pre-seed round was led by global venture capitalists LocalGlobe, Amplo, Pronomos Capital, and Future Africa. The deal brings together a powerhouse of deep industry expertise and technical know-how from partners that have backed model digital societies such as e-Estonia and are building products that scale.

Founded by CEO Luqman Edu, Iyinoluwa Aboyeji, and Coco Liu, Itana plans to enable global tech and service companies to situate their African operations from Nigeria, and also take advantage of globally competitive business policies and incentives. Read more here: 

40% of fintech apps in Nigeria have security issues – Nairametrics

Mobile application security company, Appknox, has said that its analysis of fintech apps in Nigeria shows that 40% of the apps are vulnerable to high and critical impact issues.

The Chief Executive Officer/Co-Founder of Appknox, Harshit Agarwal, disclosed this during a round-table meeting organized by CED Technologies and Appknox with the theme, ‘How to think security first in a super-fast mobile economy – Act or React’.

Of the 40%, he said over 80% lack sufficient code obfuscation, 60% have broken/disabled SSL and certificate pinning, 35% are affected by network security misconfiguration and 25% indicate recording of audio and screen activity. Read more here: 

Nigeria’s AltSchool Africa launches new schools to upskill Africans in creative, business industries –  Disrupt Africa

Nigerian skill-to-market platform AltSchool Africa has expanded its learning faculty to introduce creative economy and business schools, following an impressive 40 per cent completion rate in its first year.

Founded in 2021 by Adewale Yusuf and Sultan Akintade, who are also co-founders of another Nigerian ed-tech company TalentQL, AltSchool aims to equip Africans with in-demand tech and employability skills to help them launch their careers.

Taking a non-conventional approach to learning, the tech-enabled platform has traditionally offered courses directly related to in-code and no-code. Strengthening its push in the ed-tech sector, the startup has added content creation, sales, and music business – using Afrobeats as a case study – to its existing nine courses, with applications now open for the first cohort of these new streams.

The startup, which raised a US$1 million pre-seed round in February 2022, has in the last two years facilitated nearly three million hours of training for tech roles, including software engineering, data science, and product design. The new programmes are focused on non-traditional careers beyond the technology field, and are designed to provide a comprehensive and experiential upskilling platform for aspiring learners looking to forge careers in other growing sectors.  Read more here: 

How DRC-based Itot Africa is providing online learning services to upskill African youth – Disrupt Africa

DRC-based startup Itot Africa is providing customised digital content, coding, programming, training and e-learning to businesses, SMEs and entrepreneurs in Africa and the United States.

Itot Africa, an ed-tech startup based in Lubumbashi and launched in 2017, recently received EUR54,000 (US$59,000) in matching funds from the Catalytic Africa initiative, supporting an investment made into the startup by DRC Impact Angels.

The startup’s flagship product Okademy is an online learning, on-demand training and career tracking platform. Meanwhile, with its network of affiliated and trained students, Itot Africa also supports the digitisation process of its clients by creating technology solutions.

“We cater to three primary categories of individuals – those seeking knowledge to fill a personal gap or follow technological trends, those aiming to meet recruitment requirements or find employment, and professionals looking to reinforce their skills,” co-founder Samy Mwamba told Disrupt Africa.

“Our comprehensive services extend beyond training to include recruitment and software development, supporting businesses in their digital transformation journey. We engage our alumni to provide apt solutions based on specific corporate demands. Additionally, companies seeking human resources turn to us for recruitment and placement services, benefiting from our robust database of skilled professionals.” Read more here: 

Africa Payment Giant, Flutterwave, Expands to India – Techeconomy

According to reports, African payments startup Flutterwave has partnered with IndusInd Bank to enter the Indian market. Olugbenga Agboola, Flutterwave Co-Founder and CEO asserts that this move makes Flutterwave the first African company to scale up remittances from India to Africa, easing the process for users.

Agboola, who is currently in India after receiving an invitation from Nigerian President Bola Ahmed Tinubu to attend the Nigeria-India Business Roundtable that took place on the fringes of the G-20 Summit, stated that Flutterwave will seek out more partners to expand its footprint in India.

A more intensive and clearly defined regulatory partnership between the two nations, he continued, may assist in advancing and encouraging information exchange and technology transfer as well as improving the Nigeria-India remittance corridor. Read more here: 

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Image Credit: Ripples Nigeria

Edventures Ed-Tech | Climate-Tech Startup Lab | Cchub Entrepreneurship Programme | Technigeria’s Fastamoni Edupali Fee Payment | Remedial Health, Raises $12 Million

Egypt’s EdVentures, Saudi’s VMS join forces to revolutionise MENA ed-tech industry – Disrupt Africa.

Egypt-based ed-tech corporate VC firm EdVentures has announced a strategic partnership with VMS, a leading venture studio empowering entrepreneurs and startups in the Middle East, to enhance ed-tech in the region. Since its establishment in 2017, EdVentures, the investment arm of Egypt’s Nahdet Misr Group, has been at the forefront of investing in innovative ed-tech startups.

Meanwhile, VMS supports talented startups entering the Saudi Arabian market, helping them overcome challenges and achieve their business goals. By driving innovation and embracing risk, VMS contributes to the growth and success of the Saudi entrepreneurial ecosystem.

The partnership between the two is a significant milestone in the development of the ed-tech industry in Saudi Arabia and Egypt, fostering innovation in a key sector. It will allow both companies to support a greater number of ed-tech startups. EdVentures will provide startups with its specialised incubation, acceleration, and investment programmes while VMS will leverage its network to offer essential guidance, mentorship, and advisory services to enhance the startups’ chances of success. Read more here:

CMA unveils climate-tech startup lab – Punch News

Climate Action Africa has launched CMA Labs, a hub dedicated to supporting the development of the climate-tech startup ecosystem in Africa. According to a co-founder of the initiative, Grace Oluchi, climate change poses significant threats to Africa’s environment and economy, needing urgent and sustainable solutions.

She said that in the face of harsh realities caused by climate change, including severe droughts, flooding, and escalating agricultural challenges, Climate Action Africa had taken steps to address those issues.

She said, “Based on what we have been doing in the last two years, we have been able to discover innovators that are doing things that are practical that can be used. One of the challenges we have is that these innovations are not mainstreamed. They are not commercialised. Read more here: 

Applications open for CcHub-led student entrepreneurship programme – Disrupt Africa

Disrupt Africa reported CcHub had launched a new co-funded initiative to support innovation within African universities, in partnership with the Make-IT in Africa project implemented by Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ).

The UNI:NNOVATORS Startups-in-Residence Programme will see CcHub support 30 student-led innovations in Nigeria, Namibia, and Kenya in an effort to strengthen and accelerate the participation of academic institutions in the emerging innovation ecosystem across Africa.

In Nigeria, it is working with the University of Ibadan and the University of Lagos. In Namibia, it has partnered the University of Namibia and Namibia University of Science and Technology, and in Kenya the partners are Riara University and the University of Nairobi.

Eighteen of these student-led teams who scale through after a pitch demonstration will participate in a knowledge exchange with leading researchers in their fields and get the opportunity to travel to Germany for physical sessions to help to strengthen their prototypes. They will then receive funding and advisory services towards building and deploying their MVPs in the marketplace and in partnership with industry where applicable. Read more here: 

TECHNigeria’s FastaMoni launches school fee payment platform, EduPali. – Ripples News

Nigerian startup FastaMoni Technologies has unveiled its pioneering online platform, EduPali, to address the pressing challenges of soaring education costs and limited accessibility to quality education in Africa. EduPali, according to the team, serves as a digital payment platform designed to streamline school fee payments while offering other benefits to both educational institutions and students across the continent.

Speaking on the development, Adetola Adele, the co-founder, and CEO of FastaMoni, emphasized that the company is dedicated to optimizing the payment process as well as ensuring affordability and flexibility for parents.

Ripples Nigeria gathered that EduPali offers a range of payment options including split payments tailored to low-income families and one-off payments for those with moderate income levels. Adele said: “Our focus is on optimising the payment process, ensuring affordability and flexibility for parents. Read more here:

Nigerian startup, Remedial Health, raises $12 million in Series A funding – Nairametrics

Health-tech startup, Remedial Health, has raised $12 million in Series A funding comprising $8 million equity and $4 million debt. The company said the fund would be deployed to scale operations in Nigeria and support the delivery of targeted financial services to drive business growth across the country’s pharmaceutical sector.

The startup, which is digitizing pharmacies and bringing efficiency to the pharmaceutical value chain, said it would also prioritize increasing its penetration in the 34 states it currently operates in Nigeria by getting more pharmacies and hospitals signed up, especially in rural areas, where demand is growing. The $8 million Series A equity funding round was led by US-based venture capital firm, QED Investors and co-led by Ventures Platform, who have now invested in Remedial Health at every funding round since the pre-seed stage. Read more here: 

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Flutterwave Tuition | cybersecurity laboratory | FinTech collaboration | insurtech MyCover.ai funding | Flex Finance | Co-Creation Hub GIZ innovations

Flutterwave introduces Tuition to help African students pay fees for overseas education – Tech In Africa

The Nigerian fintech firm Flutterwave has launched a trailblazing product named ‘Tuition,’ aiming to address the difficulties parents, guardians, and sponsors face when funding their children’s overseas education. This product seeks to reshape the educational payment framework in Africa and beyond.

Tuition offers a user-friendly payment structure, facilitating parents, guardians, and sponsors to pay assorted fees smoothly to educational boadies within Africa and overseas in their local currencies. This includes an initial roll-out to about 40 institutions in the UK, and it’s anticipated to expand to more institutions across Africa, the UK, the U.S., Canada, France, and Germany as the product increasingly attracts attention. Read more here: 

Nigeria to build cybersecurity laboratory in 2024 – Nairametrics

The National Information Technology Development Agency (NITDA) has said that the agency will be collaborating with the Chartered Institute of Forensic and Certified Fraud Investigator of Nigeria (CIFCFIN) to establish a cybersecurity laboratory next year.

The Director General of the agency, Mr. Kashifu Inuwa, disclosed this while receiving CIFCFIN’s President, Dr. Iliyasu Gashinbak, and his team at the NITDA headquarters.

According to him, the collaboration was necessary to promote digital forensics, reinvigorate the tech ecosystem, and mitigate cybercrimes in the digital space.

The Director-General said that perpetrators of cybercrimes invested well in research, information technology, and powerful tools to launch attacks, adding that taking proactive steps to counter them was non-negotiable. Read more here: 

CBN signs FinTech collaboration agreements with the Central Bank of Egypt – Nairametrics

The Central Bank of Nigeria, CBN, has signed a FinTech collaboration agreement with the Central Bank of Egypt. This announcement was disclosed via the official Twitter handle of the apex bank.

The Deputy Governor of CBN, Mrs Aishah Ahmad says the partnership would deepen cross-border regulatory collaboration, and information sharing, boost innovation and grow regional technology investments. This agreement was signed during the “Seamless North Africa 2023” conference at the Egypt International Exhibition Center in New Cairo, Egypt. The Seamless North Africa conference brings together the entire financial ecosystem to discuss, debate and evaluate the future of money.

She said: “We look forward to cultivating an innovative space for fintech startups and entrepreneurs in Egypt and Nigeria to accelerate financial inclusion, deepen our payment systems and drive economic growth across the African Continent.” Read more here: 

Nigerian insurtech startup MyCover.ai secures $1.25m pre-seed funding – Disrupt Africa

Nigerian insurtech startup MyCover.ai has closed a US$1.25 million pre-seed funding round to bolster its in-house operations and tech talent, invest heavily in its proprietary technology, and strategically expand its operations into other African markets.

Founded in 2021, MyCover.ai is focused on addressing the pain points that exist in the African insurance market, such as the lack of access, inadequate coverage, the unaffordability of insurance products and the poor customer experience surrounding insurance processes.

By operating across three essential touchpoints, the company addresses these problems – underwriting and product development, distribution, and insurance claims, where the claims processes are streamlined for insurance companies and the end-users. The company provides an open insurance API that integrates with leading insurance companies, such as Hygeia, Leadway, Sovereign Trust, AIICO Insurance and Allianz, to offer over 30 personalised insurance products, allowing other businesses and innovators to embed these insurance products into their platforms. Read more here:

How Flex Finance helps African businesses save money with its spend management solution – Techpoint

As Internet and smartphone penetration has grown in many parts of Africa, a slew of startups have thrown their hats in the ring, eager to provide a reliable solution for the over 40 million businesses on the continent. Flex Finance, a spend management startup founded by Yemi Olulana, is one of such startups, and hopes to ease the process for African businesses, tapping into an estimated $4.2 trillion worth of B2B spending.

Why is spend management a big deal?

One of the most important benefits of spend management is cash flow management. By accurately tracking a business’ finances, entrepreneurs can avoid unnecessary or unproductive spending and possibly improve profitability in the long run. Spend management can also help businesses decide how to allocate their budget, negotiate better terms with suppliers, and plan effectively.

For many African businesses, the use of manual solutions means they struggle with properly managing their finances. For them, Flex Finance provides an all-in-one solution. Read more here: 

CcHub, GIZ launch to help African universities foster student-led innovations – Disrupt Africa

Co-Creation Hub (CcHub) has announced a new co-funded initiative to support innovation within African universities, in partnership with the Make-IT in Africa project implemented by Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ).

Called the UNI:NNOVATORS Startups-in-Residence Programme, the new initiative will see CcHub support 30 student-led innovations in Nigeria, Namibia, and Kenya in an effort to strengthen and accelerate the participation of academic institutions in the emerging innovation ecosystem across Africa.

The selected startup teams will participate in a design sprint to improve on their research-based innovations and build prototypes focused on greentech and smart city solutions in specific sectors – agriculture, energy, circular economy, water and healthcare. Read more here: 

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Image Credit: Techinafrica.com

FUTA Student-Developed App | App Curb Faulty Banking Services | Nerdzfactory Digigap | Digital Health Platform | Logitech Developers Hardware | Electronic Spare Parts Startup App

FUTA commences test-run of student-developed app – Ripples News

The Federal University of Technology, Akure (FUTA) has initiated the test run of an application developed by one of its students. In an official statement released today by Mr. Adegbenro Adebanjo, Deputy Director of Corporate Communications, the university announced the commencement of the pilot test phase for a software called TouchNut, created by a team led by Mr. Daniel Adeniyi, a 400 Level student in the Department of Electrical and Electronics Engineering.

The primary purpose of TouchNut is to regulate entry and exit into the Albert Ilemobade Library, as well as monitor its activities. Mr. Adeniyi explained that the software offers an easy-to-use identification system that enables the security unit to effectively monitor library operations.

TouchNut incorporates an intranet server containing students’ information and is equipped with a secure intranet connection. One notable feature of TouchNut is its ability to streamline book borrowing for students. Read more here: 

Firm launches App to curb faulty banking services – The Guardian

In the wake of incessant flawed financial transaction crisis nationwide, Pecantrust Microfinance Bank, has announced the launch of its first-ever mobile and web application to curb hitched monetary transfers and to enhance financial services within the country.

This development is a step towards transitioning from traditional banking into digital banking, which is in line with the steady rise in cashless transactions in the Nigerian financial ecosystem. According to a statement made by Head of Strategy and Digital Transformation, Pecan Bank, Joseph Onni, “the launch is a rebranding initiative that reflects our commitment to provide simple, quick and customer-focused banking experiences through our digital solutions.”

As part of the unveiling, the financial institution, reintroduced the flagship USSD code, *7006*17#, being a financial institution tethered to the provision of fresh and modern financial solutions to the under-served communities. The firm has been making remarkable contributions to the economically disadvantaged micro-medium-scale enterprises (MSME) in the Southwest region, since 2016. Read more here: 

NerdzFactory, Access Corporation introduces DigiGap for youths – The Guardian

NerdzFactory Foundation, in partnership with Access Corporation, has announced the launch of the DigiGap Programme, an initiative aimed at equipping young people in Nigeria with in-demand ICT skills.The programme seeks to create learning and economic opportunities, promote digital and technology careers, and bridge the digital gap among young Nigerians.

The partnership aims to ensure the success of the DigiGap Program, which is deeply committed to fostering the growth of young people in Lagos and Asaba, preparing them for the digital opportunities ahead and empowering them to shape the future. According to the Director NerdzFactory Foundation, Ade Olowojoba, the global economy is undergoing a rapid digital transformation; Nigeria stands at the forefront of reaping the benefits of the digital economy, with its position as the largest digital market in Africa and a leading destination for investment. Read more here: 

Leading Digital Health Platform, MyDawa, Secures $20M to Expand in Africa – Tech in Africa

Healthcare in Africa is a complicated and multifaceted problem with a lot of challenges and chances. With more than 1.3 billion people living in different countries, cultures, and economic situations, ensuring everyone gets the health care they need is still a big job.

Although headway has been made over time, many African nations’ healthcare frameworks wrestle with numerous obstacles. However, the transition towards digitized healthcare in recent years has improved, with the sector now poised for considerable expansion.

MyDawa, a thriving e-health startup based in Nairobi, is at the forefront of this digital healthcare revolution. The startup recently secured a $20 million investment from private equity investor Alta Semper Capital. It aims to extend its regional influence and diversify its product offerings, evolving into a comprehensive health platform for users. Read more here: 

Logitech launches hardware for developers, others – The Punch

Logitech has announced the launch of its MX Anywhere 3 Wireless Compact Mouse for developers, advanced creators, and analysts. According to the firm, the mouse seeks to help these professionals enhance their performance, portability, and comfort experience.

It stated that the mouse can scroll up to 1,000 lines per second and auto-shifts between ratchet and hyperfast mode because it features the MagSpeed wheel. The Head of Marketing, West Africa, Logitech, Olumide Aniyikaiye, said, “MX Anywhere comes with great battery life (up to 70 days usage on a single charge) and a solid two-year warranty.

“And as the name “Anywhere” suggests, it works on a variety of surfaces ranging from the usual mouse pad to wood, fabric, and even on glass surfaces. The functionality is a crucial part of the MX anywhere. It has six buttons in total with four of them being customisable to over 40 different functions and it can connect to up to three devices at the same time when you use multiple devices in your repertoire, making productivity and switching between devices very seamless.” Read more here: 

Kenyan B2B electronic spare parts startup Revivo raises $635k pre-seed funding – Disrupt Africa

Kenyan startup Revivo, a B2B marketplace for consumer electronic spare parts, has announced a US$635,000 pre-seed funding round to help it scale. Founded in 2022 by Sarah Johnson, Revivo is an online marketplace for quality electronic spare parts, accessories, and repair tools, which aims to increase access to quality and affordable electronics repairs in emerging markets by addressing the needs of small businesses doing the vast majority of repairs.

Through its platform, the company makes it easy for repair shops to find the products and resources they need. Revivo offers transparent pricing, access to new product sources, guaranteed quality, learning materials, and embedded financing for their customers. So far the startup has sold over 45,000 products to thousands of customers, and it is establishing partnerships with key original equipment manufacturers and e-waste recyclers. Its efforts have led to several grants, including one from Stanford’s TomKat Center for Sustainable Energy, and now a US$635,000 pre-seed round backed by Raba Partnership, Village Global, Musha Ventures, Satgana and strategic business angels. Read more here: 

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Stllr partners Payoneer for SMEs | Convexity digital solution | PayGo solar startup | KCB, Visa, and Thales contactless | MTN and Microsoft Cloud Solutions | Insurtech Turaco milestone

Egypt’s Stllr partners Payoneer to empower SMEs to transact globally – Disrupt Africa

Egypt’s Stllr, a regional network of independent creators and boutique agencies, has partnered with Payoneer, a financial technology company empowering the world’s small and medium-sized businesses to transact, do business and grow globally.

Launched in December 2021, Stllr reduces wasted costs in marketing departments and miscommunication with external vendors, offering companies a plug-and-play marketing model through experimenting with different campaigns like SEO, media buying, social media and more.

A network of independents in the Middle East, the startup connects quality independents with brands across the region. The partnership with Payoneer, which has built a global financial platform that allows SMBs to pay and get paid, manage their funds, and grow their business, will enable Stllr to make real-time settlement to their independents utilising Payoneer’s payment platform.

The partnership also empowers Stllr Network independents to receive global payments for their services seamlessly and securely in multiple currencies from clients all around the Middle East, with lower conversion fees. Read more here: 

Convexity Technology launches digital solution – PUNCH News

Convexity Technology Limited, a blockchain consultancy firm, has unveiled a digital solution called, ‘Convexity Humanitarian Aid Transfer Solution’, to create end-to-end visibility and transparency for humanitarian aid given to Nigeria and Africa. It said this would connect all stakeholders within the distribution from the donors down to the beneficiaries. It noted that its solution used blockchain technology.

The Chief Operating Officer, Convexity, Mr Adedeji Owonibi, disclosed this during a seminar organised as part of the company’s corporate social responsibility in Abuja themed, ‘Data protection for humanitarian organisations in the 21st century; A tool to attract funding’.

He said, “Data privacy is key in humanitarian services but we noticed a lot of these organisations are not taking data privacy seriously. Read more here: 

PayGo solar startup Yellow raises $14 million to scale in Africa – Tech crunch

Yellow, an asset financier for solar energy and digital devices in Africa has raised $14 million series B funding in a round led by Convergence Partners with participation from the Energy Entrepreneurs Growth Fund, managed by Triple Jump, in addition to follow-on investment from Platform Investment Partners.

Yellow was founded and launched in Malawi in 2018 by Mike Heyink and Maya Stewart, to initially bring solar energy to the country, which is among those with the lowest access to electricity in the world. It has since grown its footprint across Africa and increased its product offering to include electronics like smartphones.

Following the new funding, Yellow plans to deepen its reach in its current markets Malawi, Rwanda, Uganda, Zambia, and Madagascar, launch digital and financial products in near-term, and prepare for future debt funding rounds to ramp up its growth. The new round brings total debt and equity funding raised by Yellow to $45 million. Read more here: 

KCB, Visa, and Thales partner to bring contactless payments to Kenya – Techpoint Africa

Kenya Commercial Bank (KCB), Visa, and Thales have collaborated to launch a new in-store payment service. Customers who have near-field communication (NFC) enabled on their Android smartphones or Garmin wearables can make contactless payments through the KCB app.

Garmin is an American technology company that specialises in GPS technology for automotive, aviation, marine, outdoor, and sport activities. This is the first time a product of this type will be available in Kenya. Alternative contactless payment options, such as those provided by Absa and Standard Chartered, rely on cards rather than mobile devices.

Compared to debit cards, contactless payments are convenient, simple, and quick because you do not need to enter a PIN code for your routine and small transactions. Read more here: 

MTN and Microsoft Unleash Cloud Solutions to Assist Businesses Accelerate Value Creation –  TechEconomy News

MTN Nigeria and Microsoft are taking major steps to assist the government and businesses in Nigeria to accelerate value creation through cloud technology.

To this end, MTN Business is redefining business operation models with the Microsoft cloud technology (Azure) that is designed to explore ways in which technology is transforming business operations in both private and public sectors.

The partners presented their cloud roadmap for the market to C-level executives at a breakfast meeting in Lagos. Recall that last year, MTN Group and Microsoft announced a new partnership that will see them support customers across governments and organizations accelerate value creation and drive Africa’s economic growth using Microsoft platform solutions. Read more here: 

Kenyan insurtech Turaco passes 1m insured milestone – Disrupt Africa

Kenyan insurtech startup Turaco has announced it has surpassed one million lives insured. Turaco provides simple and affordable insurance solutions for emerging markets and is a distributor, broker and key customer interface between the underwriter and the consumer. Turaco achieves this by forming partnerships with leading tech-enabled companies with a large pool of emerging market consumers, like ride-hailing apps and solar pay-go companies.

The company raised a US$10 million Series A round in September 2022, and is using that investment to grow rapidly. Operating in Nigeria, Kenya, and Uganda, Turaco provides access to a much needed safety net against financial shocks to mass market consumers, and has now insured one million of them. As many as 350,000 of those protected by Turaco signed up in the last three months as part of a newly-launched partnership with Airtel Money Uganda and Prudential Uganda. Read more here:

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Image Credit: TechEconomyNews.Ng

Ten Inclusive Jobtech Platforms | 12 SA Startups For Edtech Fellowship | Top Edtech Startups Revolutionizing Learning In Nigeria | DRC’s Altech Raises Capital | Digital Payment Opportunity

Jobtech Alliance announces 1st cohort of 10 inclusive jobtech platforms – Disrupt Africa

The Jobtech Alliance has announced its first cohort of 10 companies that are creating accessible, and appropriate jobtech solutions that connect young people to jobs, which will participate in two new programmes and secure access to funding and mentorship.

Disrupt Africa reported last October on the launch of the Jobtech Alliance, an ecosystem-building initiative around inclusive jobtech in Africa steered by Mercy Corps and BFA Global, which aims to create an enabling environment for entrepreneurs to build platforms that deliver quality livelihoods, are inclusive, and enable users to engage in decent work.

The alliance has launched two programmes – the Catalyst Jobtech Accelerator and the Jobtech Innovation Lab – designed to support digital platforms that connect people to work opportunities that build livelihoods. Read more here 

12 SA startups selected for inaugural Mastercard Foundation EdTech Fellowship – Disrupt Africa

South African ed-tech incubator Injini has announced the 12 startups selected for the first Mastercard Foundation EdTech Fellowship Programme, which offers selected companies access to funding and other types of support.

Founded in 2017, Injini, which is a member of the UVU Africa Group, is a registered non-profit company that exists for the sole purpose of improving educational outcomes in Sub-Saharan Africa. The only ed-tech specialised accelerator in Africa, its programmes and research via the Injini Think Tank contribute towards its mission to increase the quality, accessibility, and relevance of education in the region.

Disrupt Africa reported last month Injini had partnered the Mastercard Foundation to launch the fellowship programme, which will provide eligible startups with direct grant funding, product quality evaluation and certification, intensive skills development, coaching and mentorship, bespoke market research and market access through Injini’s network of stakeholders across the education innovation landscape. Read more here

TECHTop Edtech startups revolutionizing learning in Nigeria – Ripples News

Nigeria is one of the fastest-growing tech hubs in Africa, with a thriving tech industry and a growing number of startups. The country has a large and young population, a rapidly expanding economy, and a growing demand for technology-based solutions to its many challenges. Some of the most significant areas of growth in the Nigerian tech industries are e-commerce, fintech, edtech and much more.

Edtech is improving the education sector in Nigeria which has seen significant growth in recent years, thanks in part to the adoption of technology. With a population of over 200 million people, Nigeria has a huge demand for education. Read more here

DRC’s Altech Group raises $18m growth capital to expand access to energy – Disrupt Africa

The DRC-based Altech Group has raised US$18 million in debt financing and grants to continue strengthening its market position and expand access to energy across the country. Founded in 2013, Altech has created a sales and distribution network with a national footprint, counting 4,500 employees and sales agents, covering more than 140 shops across 22 out of 26 provinces in the DRC. It has positively impacted the lives of more than 1.7 million Congolese by selling over 350,000 solar energy products.

The US$18 million growth capital just announced will enable Altech to open more than 30 new sales outlets in rural areas without competition, and distribute 180,000 solar products, to extend clean, reliable energy access to 900,000 people. Read more here

Digital payment infrastructure, major opportunity for investment- Routelink GMD – Punch News

The Group Managing Director of Routelink Group, Femi Adeoti, discusses how the country’s digital payment infrastructure is not primed for a cashless economy and other issues affecting the payment landscape in this interview with TEMITAYO JAIYEOLA. In January 2023, the Nigeria Inter-Banking Settlement Systems said there was a 125 per cent increase in the volume of mobile transactions compared to the same period last year. How sustainable is this increase in mobile electronic payment usage?

The recent spike in the volume of mobile-based transactions, among other things shows that Nigeria is ready and ripe for cash-less-based transactions, though the appropriate term and realistic expectation at this time should be cash lite. However, while the populace is ready to adopt these solutions, we realised that Nigeria’s current banking and digital payment infrastructure is inadequate to cater to the expected growth in the volume of digital/electronic-based transactions. While we are right to celebrate an increase as significant as 125 per cent, the failures recorded show that we could have achieved more. Read more here

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Image Credit: Disrupt Africa

TD Africa – Huawei SME Solutions | Dlocal Boost African E-commerce | Gofree Super Fintech App | Farmtrace Agritech Farm Management Solutions | Customer Data Ban On Loan Apps

Huawei partners TD Africa on solutions for SMEs – The Guardian News

Technology Distribution Company TD Africa has partnered Huawei in creating technology solutions for Small and Medium-sized Enterprises (SMEs). The products included Network equipment, storage and Idea Hub. The Huawei Idea Hub provides a range of core productivity tools that promote digital transformation and help build a fully connected world. This was disclosed at TD Africa-Huawei SME product launch in Lagos.

Coordinating Managing Director (CMD), TD Africa, Chioma Chimere, said that the partnership would lead to revolution across Africa as it empowers the ecosystem. She stated that technology is key to bridging the digital divide existing in the world and Africa must embrace it.

“Today Huawei is coming down to the areas where people need to be empowered by bringing technology to them. Huawei is saying that you don’t have to be a big enterprise to own and use technology,” she added. Channel Director, Huawei, Gary Li, said the partnership aims to create more value using the SMEs product to achieve success with customers. Read more here. 

dLocal to Boost African eCommerce Transactions with Innovative Payment Platform – TechEconomy

dLocal, a technology-first payments platform enabling global enterprise merchants to connect with billions of consumers in emerging markets, today announced the official launch of a new all-in-one payment solution to manage global platform payments in one place.

dLocal for Platforms is an end-to-end payment solution for marketplaces, on-demand services, and any other platform business models.“We understand that the payment system in Africa is different and more fragmented,” said Moses Sule, Head of Growth, Africa at dLocal.

“This is why we have dedicated resources to solidify our local footprint and workforce on-ground. Because of our understanding of the terrain, we know the important payment methods that the people in the region want to pay with, and we integrate those. We’ve built a playbook.” Read more here. 

Nigerian fintech startup GoFree launches messaging, payments super app – Disrupt Africa

Nigerian fintech startup GoFree has launched a super app that combines messaging, collaboration, and payment functionality in one platform. Founded in 2022, GoFree is available for download on the App Store and Google Play Store, and allows users to to easily manage their personal and professional lives in one convenient platform. The comprehensive solution offers an all-in-one platform for communication and financial transactions, with a particular focus on meeting the needs of B2Cs, Gen-Z and Millennial users, as well as B2Bs, SMEs and startups.

GoFree is designed to simplify communication and financial transactions by combining multiple functionalities in a single app. With messaging and collaboration features, users can easily communicate with colleagues, friends, and family, share files and documents, and collaborate on projects. The payment functionality makes it easy to send and receive money, pay bills, and manage finances in one convenient platform. Read more here. 

South African agritech startup FarmTrace raises money so it can offer solutions for farm management – Tech In Africa News

FarmTrace, a cloud-based agritech solution that has secured a sizable investment from Secha Capital and Hassium Capital, has made cutting-edge farm management technologies available to farmers in South Africa.

FarmTrace is the only cloud-based farm management tool of its kind in the country. It gives farmers a wide range of tools to help them run their farms. The software lets farmers keep an eye on and run their operations from anywhere in the world. It also gives them an accurate, live picture of their farming operation. This helps farmers improve their yields, make their farms more efficient in all areas, and waste less food, making their businesses profitable for years. Read more here.

Nigerian govt, Google ban digital loan apps from accessing contacts, photos of customers – Ripplesnigeria

The federal government and Google have implemented new restrictions on digital loan apps available on the Play Store platform, aimed at safeguarding users from predatory lending practices. This move comes just a few days after the Federal Government of Nigeria licensed 117 digital loan apps to serve Nigerians.

The new policy, which comes into effect on May 31, also applies to other countries. Google will prohibit apps from accessing sensitive user data such as photos, videos, contacts, precise location data, and call logs.

In a statement released Google explained that the new policy was aimed at addressing issues of misuse of personal data by some loan apps. Read more here. 

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Image Credit: Huawei flagship store in Shenzhen, in China’s southern Guangdong province. (Photo by – / AFP) / China OUT

Firm Launches Dollar Payment | Edutech Loans | Nigeria Digital Postcode | Hackers Attack Whatsapp | Verve Card Expands Payment Scheme

Firm launches dollar payment option for merchants – The Times News

Kora has launched a dollar payment option on its platform to ease dollar transactions for merchants. The firm stated that the dollar card-acquiring was the latest addition to its suite of currencies that include naira bank account issuing, pay-ins, payouts, and cross-border settlement across multiple countries.

Commenting on the new product, the Head of Product at Kora, Sandra Israel-Ovirih, said, “Incorporating USD card payments has been a priority for a while now. “We understand that many businesses operate in a global marketplace and need a seamless payment system to handle cross-border transactions. This will be a game changer for African businesses selling to a global market.” Read more here 

Edutech to offer loans to students – PUNCH NEWS

Utiva has revealed plans to offer a ‘Learn Now, Pay Later’ loan scheme to 100,000 students.

According to the firm, it has partnered with six loan and credit companies to offer 100,000 students loans to enable them to acquire tech skills in areas like data science, cloud computing, and product management.

In a statement, the Chief Executive Officer, Utiva, Eyitayo Ogunmola, said, “Our commitment has always been to reduce the barriers to entry for those who want to learn tech skills, and this is an opportunity to do it in a big way.” He stated that his firm uses technology to provide a streamlined onboarding process, enabling students to start learning within five minutes of applying. Read more here 

Tech – Nigeria to launch digital postcode in June – Ripplesnigeria

The Federal Government has announced that it will introduce a digital postcode system in Nigeria by June 2023. The Postmaster General of the Federation and CEO of the Nigerian Postal Service (NIPOST), Adeyemi Sunday Adepoju, made the disclosure at a recent two-day workshop and retreat on the digital postcode system.

The event, which was held in Keffi, Nasarawa State, was organized in partnership with the National Population Commission, National Space Research and Development Agency, Office of the Surveyor General of the Federation, and other stakeholders. Ripples Nigeria gathered that the introduction of digital postcodes is expected to improve the efficiency of mail delivery, enhance emergency response by security agencies, and curb criminal activities like banditry, kidnapping, and internet scams. Read more here

NCC Says WhatsApp is Now Main Targets For Hackers, Releases Safety Tips – Legit News

• The Nigerian Communications Commission (NCC) has warned WhatsApp users in Nigeria to be wary of hackers.
• The agency said the platform is now the primary target of hackers across the globe.
• NCC asked users in Nigeria to activate security features such as Two-Factor Authentication on the platform

The Nigerian Communications Commission’s (NCC) Computer Security Incident Response Team (CSIRT) has warned WhatsApp users in Nigeria, saying the platform has become the primary target of hackers and scammers looking for ways to gain unauthorized access to users’ accounts. The Commission disclosed this in its latest advisory to Nigerian users, asking them to be security conscious while on the platform. It recommended that users activate Two-Factor Authentication (2FA) to become hackproof. NCC provides safety tips for WhatsApp users A Nairametrics report quoted NCC as describing 2FA as an identity and access management security procedure requiring two forms of identification to access resources and data o WhatsApp. Read more here 

Verve Card Expands Payment Scheme, Integrates Contactless Payments – TechEconomy

Africa’s leading and most successful payment Scheme, Verve International, has announced a significant milestone in its continuous drive for expansion across Africa and the globe. The payment brand has onboarded 50 additional scheme members, bringing the total number of its scheme members to 250, spread across banks and other financial institutions. Verve’s position as a market leader can be attributed to its ceaseless dedication to creating innovative payment solutions as well as leveraging strategic partnerships that provide Verve cardholders with more convenient and secure payment options.

One of such options is the contactless payment solution that enables customers complete transactions in record time. The integration of contactless payment technology allows Verve to provide a seamless and secure payment experience with its over 45 million cards in circulation, for existing and newly onboarded individuals and businesses who will be able to make payments faster by simply tapping their Verve cards at payment terminals with the contactless feature, including Point of Sale (PoS) terminals at merchant and agent locations. in addition, Verve’s contactless payment card leverages the latest security technology to protect customers’ personal and financial information using the EMV technology. Read more here

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Image Credit: world gazetteer and Google Earth