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Nigeria fintech startup, Touch and Pay, gets $3m seed funding, plans African expansion



Nigerian fintech startup, Touch and Pay, is in a bullish mood as it plans massive expansion into the African market after securing a $3 million
seed funding.

Co-founder of the startup, Michael Oluwole, in a statement on Monday, said the payment solution outfit was trying to move towards a truly cashless society in Nigeria and the African continent.

“Today, there are two types of transactions in Africa, firstly macro ones like buying a car or house, or payment of tuition. These transactions have been digitised and are processed electronically.

“But the other type of transactions are micro-transactions, like payment of transportation fares, getting snacks or a cup of coffee, or buying groceries. These are all cash-based and they account for 70 per cent of all daily transactions in Nigeria today.

“Today we are in four states in Nigeria – Lagos, Ogun, Oyo, and Kano. We plan to roll out to Ghana and Senegal.

“We operate in a market for the lower bottom of the pyramid. Getting them to adopt is always very slow, but once we do we achieve stickiness,” Oluwole added.

By Isaac Dachen


Verve partners Adidas for Africa’s biggest fitness series, VerveLife 6.0



Africa’s leading domestic payment cards and tokens brand, Verve has entered into a partnership with global sportswear giant, Adidas for the sixth edition of the continent’s biggest fitness series, VerveLife 6.0.

Making the announcement on the partnership on Wednesday, Cherry Eromosele, Executive Vice President, Marketing and Communications at Interswitch Group, said the VerveLife’s series would focus on promoting fitness, healthy living, and wellness.

“We are greatly delighted to welcome Adidas on board as one of our partners for VerveLife 6.0.

“Year upon year, we continue to successfully deliver extraordinary experiences that transcend the expectations of fitness enthusiasts in these climes, with an unprecedented approach incorporating fitness, fun and healthy food, all intertwined in a format that leaves participants demanding more.

“In 2023, we are raising the bar even higher, and working with a globally renowned and credible partner like Adidas gives even more fillip to our resolve, as we jointly advocate for more active and healthier lifestyles for African consumers,” she said.

The VerveLife fitness platform, which has been on from 2018, features exciting high-intensity workout sessions and dance routines led by renowned fitness experts and dance instructors from across Africa.

It also includes fitness challenges and immersive masterclasses on nutrition, mental wellness, and other related areas.

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Nigerian crypto startup, KoinWa launches Web3 education platform for varsity students



Nigerian cryptocurrency startup, KoinWa has announced launching a Web3 education platform, EduBlok, with the aim of empowering university students with relevant and beneficial skills.

The CEO of the crypto company, Hakeem Disu, who made the announcement, said the new platform was the firm’s way of contributing to the educational development of Nigerian students through its education arm.

“EduBlok provides users with blockchain education and training, and helps other educational institutions design blockchain and artificial intelligence curricula,” Disu said.

Disu, who is both a trained teacher and author of the e-book “How blockchain is solving real life African problems,” said Edublok, which is funded by KoinWa, had already impacted over 10,000 beneficiaries in university-underserved communities, as well as given out more than 15,000 e-books.

“Blockchain been the next big thing in the technology space, but is not included in the education curriculum of Nigeria,” Disu said.

“EduBlok is looking to solve this problem by designing the academic curriculum and textbooks, and also providing blockchain education and entrepreneurship skills,” he said.

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