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Egyptian digital payment startup, Copal, partners with Mastercard to launch family app

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Egypt’s first digital payment solutions platform, Copal, has entered into a strategic partnership with Mastercard to introduce the first family payment and expenses management application in the country.

The partnership which was reached on Tuesday, according to the Country General Manager, MENA Central, Mastercard, Adam Jones, aims to further drive financial inclusion in the country through the integration of underbanked youth into the formal economy.

“Our partnership with Copal demonstrates our commitment to expand the financial digital market in Egypt by providing our partners with the necessary services and tools to transform bold ideas and achieve scale at pace,” Jones said.

The introduction of Copal in the Egyptian market is designed to provide a seamless and innovative cashless experience for all family members, Ahmed Refaat, Co-Founder and CEO of Copal, said in a statement.

“Copal’s vision is to fill the gap for the un- and under-banked through introducing a product that is specifically tailored to meet their every need,” said Ahmed Refaat, Co-Founder and CEO of Copal.

“We are proud to partner with Mastercard, and we are confident that, with their leadership and support, Copal will grow and expand as fast as we ambitiously planned,” Refaat added.

Giving the benefits of the partnership, Refaat said:

“Backed-up by Mastercard technologies, Copal brings entire family members on a unified payment platform that is fully managed by the parents.

“Accordingly, parents and custodians are able to control young family members’ funds and easily track and manage their finances, in addition to ensuring safekeeping of their allowances, controlling overspending and ensuring availability of fund in case of emergencies.

“The solution also comes with simplified financial education tools that support the inclusion of youth in the digitized payment ecosystem and help them become more financially savvy.

“Young family members will learn how to manage their money and savings as well as give back to the community,” he said.

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Tanzania’s auto-tech startup Spana is simplifying car maintenance— CEO

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Tanzania’s auto-tech startup, Spana, has developed a mobile application for a bouquet of automobile services, enabling individual car owners and businesses to request auto diagnostic checks, vehicle servicing, and repairs, or subscribe their vehicles to annual routine maintenance, according to co-founder and CEO, Julius Mbungo.

Mbungo who made the boast in an interview on Wednesday, said the startup which was founded in late 2023 by himself, Ebenezery Kimaro, and John Mwapinga, allows “users to access reliable mechanics, their car’s maintenance history, track expenses, and receive service reminders, among other things.”

In the interview, Mbungo said before coming up with the startup, he had, in 2022, conducted a survey of car owners, mechanics and garage owners to learn about how car owners access services for their cars and the challenges they face when it comes to dealing with mechanics.

“We talked to more than 800 people, and the results were astonishing. Eighty per cent weren’t very happy with existing solutions, and those who were at least satisfied complained about the rip-off from some of the service providers,” he stated.

“Tanzania, like most Sub-Saharan African countries, is a used-car dominated market, by a ratio of 90:10, where cars as old as 20-years still find their way onto the roads.

“The used cars are powered by after-market spare parts where most are fake, leading to frequent breakdowns and car owners spending four times more on maintenance. There’s also a lack of expertise and modern tools,” Mbungo said.

He emphasized that “Spana is on a mission to provide efficient, affordable, and transparent auto repair and maintenance, combating counterfeit spare parts.”

“We want to foster a vehicle maintenance culture in Tanzania, helping customers with repairs and spare part procurement along the way.

“We want to prolong the longevity of Tanzanians’ vehicles and keep our roads and people safe.

“Since our inception, we have 30 workshops registered on our platform, and 180 mechanics, with over 1,000 cars registered.”

He stressed that the platform currently operates in two Tanzanian cities – Dar es Salaam and Arusha – with plans to expand to Dodoma and Zanzibar later this year.

“But we are looking forward to adding more services on the platform, such as vehicle insurance and vehicle repair loan,” Mbungo added.

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Institute calls for responsible social media usage among youths

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Smart Zambia Institute has reiterated the importance of youths to use social media responsibly.

Senior Business Applications Officer at the e-Government Division, Kamuvwi Lungu, emphasized the existence of strict measures on government communication platforms aimed at prohibiting users from posting profanity or engaging in abusive behaviour.

This information was conveyed in a post reflecting on the digital transformation discussion held on the Smart Zambia official Facebook page on Tuesday.

“These security measures are crucial for identifying and regulating individuals who violate these guidelines,” Smart Zambia stated.

The institute said the primary purpose of such policies was to maintain a respectful and constructive online environment while promoting responsible online behaviour among users.

“It served as a reminder of the importance of creating a safe and respectful online space while harnessing the benefits of social media for personal and professional growth,” it added.

The institute described social media as a powerful tool for communication and networking adding that it is a platform that requires careful monitoring and regulation to ensure a positive user experience.

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