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Rwanda: CcHUB, Google, Mojaloop Foundation announce 9 Startups for Fintech Incubation Programme

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Organizers of the Fintech Incubation Programme, Co-Creation Hub, Google, Rwanda’s Ministry of ICT and Innovation, and Mojaloop Foundation have announced the nine startups selected for the programme.

This first cohort of the program will conclude with a demo day in July 2022 where the startups will present to investors through the CcHUB syndicate.

CcHUB vowed to support the teams to achieve product stability and scalability, market readiness, and investment. They will be able to leverage mentorship from industry and domain experts while taking advantage of Google products and Mojaloop.

CcHUB, which announced a partnership with tech-giant Google last December is Nigeria’s first pre-incubation space designed to be a multi-functional, multi-purpose space where work to drive creative social tech ventures takes place.

The HUB is a place for technologists, social entrepreneurs, government, tech companies, impact investors, and hackers in and around Lagos to co-create new solutions to the many social problems in Nigeria.

The incubation programme is a part of the ongoing efforts to turn Rwanda into the Fintech hub for Africa with Mojaloop as the national payments switch. The programme aligns with Rwanda’s ambition to drive inclusive economic development by leveraging technology.

The nine start-ups selected to join the programme are:

KudiBooks; is a payment and accounting software for non-finance and non-accounting professionals targeting SMEs across Africa. They help users send and receive payments from their preferred financial institution within Kudibooks.

Food Bundles; is leveraging digital technology to improve market links for smallholder farmers and meet the growing demand for fresh food produce. The platform helps farmers participate in e-commerce, get paid on their mobile money, and more!

Quiqpay; is leveraging digital technology to improve market links for smallholder farmers and meet the growing demand for fresh food produce. The platform helps farmers participate in e-commerce, get paid on their mobile money, and more!

Bafana.io; This amazing startup is giving over 1200 African artists and creatives a personal page where they can easily share their work and a digital wallet to collect tips/payments from their fans around the world.

Uplus Mutual Partners (Uplus); is a digital group financing platform where people can efficiently raise funds and savings with their family, friends, and colleagues.

PesaChoice; is a financial technology company that focuses on data-based lending. The startup offers short term loans without the requirement of collateral.

CentWise; aims to unlock financial access for micro traders such as street vendors and hawkers by building alternative collateral products. The company converts financial data into bankable profile insights.

PayingTone; is a marketplace that provides ecologically trackable products and services on credit. The platform brings a digital product passport technology to enable a gamified ecological footprint tracker for recurring consumption customers.

Exuus; is a FinTech company working towards achieving universal financial inclusion for both the unserved and underserved through technology. The company’s flagship product SAVE is a digital & inclusive wallet that allows users to manage both their savings (individually and/or in saving groups) and spendings.

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Flutterwave partners Token.io to provide seamless bank transfer to users in UK, EU

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Pan-Africa’s payments technology company, Flutterwave has entered into a partnership with Europe’s account-to-account (A2A) payment infrastructure provider, Token.io to power “Pay By Bank” transfer capabilities using its platform.

Flutterwave’s Chief Executive Officer, Olugbenga Agboola, who made the announcement at the ongoing “Money20/20 Europe fintech conference in Amsterdam” on Wednesday, said the A2A payments would be a fast and secure way to move money between bank accounts, especially for Africans.

“Our partnership with Token.io will make it even faster and easier for individuals and businesses to pay and receive money,” Agboola said.

“By partnering with Token.io to provide Account-to-Account payments to our customers, Flutterwave will advance its mission of connecting Africa to the global economy,” he added.

According to the Flutterwave CEO, open banking-powered A2A payments do not require registration or error-prone data entry, making them a seamless payment method.

“End-users would have authenticate A2A payments directly with their bank for a frictionless experience that also delivers higher success rates than market standards, thereby offer merchants cost savings compared to traditional payment methods and settle instantly to improve cash flow”, he said.

Also speaking on the partnership, Todd Clyde, the CEO of Token.io said it underscored the platform’s commitment to enabling payment providers to grow with open banking-powered A2A payments.

“We’re confident that Token.io’s infrastructure will help Flutterwave offer its customers a more comprehensive payment solution, with A2A payments being a key part of this for UK, Europe, Middle East and Africa corridors,” said Clyde.

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Samsung Electronics launches e-waste program in Kenya

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Samsung Electronics East Africa has entered into a partnership with Kenya’s home appliances store, Housewife’s Paradise, to commence the collection of e-waste for recycling aimed at providing a joint-effort on environmental conservation.

According to Samsung East African Head of Service Division, Ronald Mitei, the collection of e-waste would begin in Nairobi before scaling to the rest of the country by the end of the year.

Under the e-waste management program, Housewife’s Paradise will collect Samsung brand-only e-waste at a customer’s preferred time and date, with the waste delivered to WEEE Centre, the official Samsung recycling partner in Kenya and then be discarded.

“We have been dedicated to responsible e-waste management for the last few years and we now want to scale it up to ensure that we minimize any negative environmental impact of our products,” Mitei said.

“This includes taking responsibility for the end-of-life phase of our products to prevent environmental harm. Our e-waste program and recycling program are an important part of this commitment,” he added while addressing a press conference on Tuesday.

Samsung Electronics is strongly committed to proper e-waste disposal and we believe in safeguarding our environment through responsible disposal and recycling of electronic waste, transforming it from being hazardous to beneficial.

“Working together with our partners, we can ensure that waste is not just discarded, but transformed into reusable materials.

“This collaboration embodies our shared dedication to sustainable practices, conservation, and the health of our planet,” Mitei added.

Also speaking during the press conference, Managing Director of Housewife’s Paradise, Zul Jamal, said:

“As a responsible home appliance retailer, we understand the importance of proper e-waste disposal.

“It’s not just about selling new appliances; it is also about ensuring that the old ones are retired in a way that is safe for our environment.

“That is why we are devoted to providing our customers with easy access to responsible recycling options, and encouraging the sustainable disposal of electronic products.”

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