Tech

4 Kenyan Startups Make It To Final Round Of Visa’s Everywhere Initiative

Leading fintech companies from the Sub-Sahara Africa (SSA) technology startup community have made it to the finals of Visa’s Everywhere Initiative, a global innovation program that tasks start-ups to solve commerce challenges of tomorrow, further enhance their own product propositions and provide visionary solutions for Visa’s vast network of partners

Published

6 years ago

July 21, 2018

Africa News Watch

Among the 12 chosen, from the 238 total entries, Kenyan startups M-Changa, Mookh, WayaWaya and LipaPlus will compete against innovators from across Sub Sahara Africa for a chance to secure funding of up to US$50,000 to develop their ideas when the initiative concludes in Johannesburg on July 24.

Fintechs in Africa are making incredible strides; not only to bring more convenience to consumers, but also to enable people who would not otherwise have access to financial services or even a way to connect to the formal banking system.

Read Also: Ghana funds ten youth start-ups

Venture funding for African startups jumped by 51% to $195 million in 2017 and fintech in Africa is expected to grow exponentially in the next few years as it continues to disrupt the traditional financial sector.

Click to comment

Tech

Tanzania to host 6th Ocean Innovation Africa summit in February

Published

23 hours ago

November 20, 2024

Isaac Dachen

Dar es Salaam, Tanzania, has been selected to host the sixth edition of the Ocean Innovation Africa (OIA) summit from February 24-28, 2025, as a flagship event within Regenerative Ocean Week.

The Ocean Innovation Africa is set to be Africa’s most significant platform for Ocean Innovation conservation, and sustainable development in the blue economy. OIA2025 will be co-organised with leading partners, including IUCN, GIZ, OceanHub Africa, Catalyze and the Ocean-Climate Platform.

With the theme, “Science-to-Solution”, the Regenerative Ocean Week will present a line-up of sessions designed to bridge the gap between scientific research, business innovation, policy, and community engagement.

According to the organizers of the event, it will bring together African ocean innovators, investors, researchers, policymakers, and community leaders to explore practical solutions that can be applied across the continent.

“These include the OIA Pitch Competition, which is a platform for Africa-based startups and entrepreneurs to showcase breakthrough ideas in ocean-impact solutions, allowing them to connect with investors and industry leaders and emphasizing Africa’s role in driving sustainable ocean initiatives,” the organizers said in a statement.

Tech

Orange Egypt earmarks $52.7m to support African startups

Published

2 days ago

November 19, 2024

Isaac Dachen

Orange Egypt has earmarked the sum of $52.7 million to support African startups in what is going to be the largest investment to drive a youth-focused tech revolution.

According to the company, the mammoth investment will see over 40 startups benefitting from the funds, with most of them being Egyptian companies.

‘It’s a boost for Egypt’s growing entrepreneurial ecosystem and a step closer to cementing its spot as a top startup hub in Africa,” the company said in a statement.

The investment is coming on the heels of the telco signing a deal with the Egyptian government to roll out the second phase of its 5G licensing.

The statement noted that with Egypt’s startup game already strong and ranking as the third most funded country in the MENA region, “the numbers speak for themselves.”

“In 2022, Egyptian startups closed 143 funding deals worth nearly $766.7 million, outpacing the $606.79 million raised the year before.

“Plus over 2,100 startups employing more than 50,000 people, the country’s ecosystem is one of the top 10 emerging startup hubs globally.

“The Egyptian government is all in on this. And since launching initiatives like Egypt Ventures in 2017, they’ve been backing startups to drive innovation and growth in the tech space.

“Orange Egypt’s latest move only adds fuel to this already blazing fire, paving the way for more opportunities and a stronger startup culture across Africa,” it added.