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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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Egyptian AI-powered ed-tech startup Sprints raises $3m to scale up platform

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Egyptian AI-powered ed-tech startup, Sprints, has announced raising $3 million bridge round of funding to help it scale up its platform with the aim of “redefining education for the future”.

Co-founder and CEO of Sprints, Ayman Bazaraa, who made the announcement on Thursday, said the platform which is on a “mission to educate one billion learners in 10 years” raised the $3 million bridge round of funding led by Disruptech Ventures with investments from EdVentures and CFYE, among others.

“Our team is the beating heart of this success. We’re a proud force of passionate trailblazers, consisting of over 100 employees and 300 trainers from 12 countries, united by a single mission, to revolutionise education through AI,” said Bazaraa

“This investment is a resounding validation of the team’s tireless efforts and unwavering dedication.

“Today, I stand proud of what we’ve collectively accomplished, and brimming with anticipation for the future we will pave together,” Bazaraa added.

Founded in 2020 by Bazaraa and Bassam Sharkawy, Sprints is the first end-to-end platform in the MENA region to bridge the tech talent gap, spanning talent assessment, customised learning journeys, and top-paying job guarantee.

The startup delivers world-class, agile-based learning journeys that empower organisations to build top-notch tech teams in all tracks, including AI, data science, mobile, web, IoT, cloud computing and cybersecurity, according to a citation on its website.

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Radisson Group targets 25 hotels in Morocco by 2030

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The Radisson Hotel Group says it has set a goal of setting up 25 hotels in Morocco, which will expand its current portfolio of 11 hotels in operation to 36 by 2030.

Erwan Garnier, Senior Director, Development, Africa at Radisson Hotel Group, who disclosed this in a statement, saidMorocco continues to be a crucial market for the group’s development, while also accelerating its expansion in the country which is part of its vision of redefining the group’s expansion strategy for the country.

“I am delighted to lead our expansion efforts in Morocco and take them to new heights. Leveraging our success in the country thus far, our expansion strategy will concentrate on targeting the major cities in Morocco,” Garnier said.

“Our focus will be on strengthening our presence in Casablanca and Marrakech, where we currently operate the conveniently located Radisson Blu Hotel, Casablanca City Center and the highly acclaimed Radisson Blu Hotel, Marrakech Carré Eden.

“Additionally, we plan to establish our presence in the key cities of Rabat, Tangier, Agadir, and Fez.

“In light of Radisson Hotel Group’s strategic 5-year plan and the 2030 FIFA World Cup in Morocco, we have identified significant potential within these cities to establish a diverse portfolio consisting of ideally located business hotels, efficient serviced apartments, premium mixed-use projects, and expanding our portfolio of exceptional resorts.

“The introduction of the Radisson brand with the imminent opening of the Radisson Hotel Casablanca Gauthier La Citadelle in the vibrant Gauthier district of Casablanca, marks a notable development.

“This new establishment will be the flagship of the Radisson brand in Morocco, marking the entry of a new brand for the group in the country and underlining our commitment to quality and diversified expansion,” he added.

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