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Ghana’s agrotech startup, FLUID, launches platform to help small scale farmers access to credit

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Ghana’s agrotech startup, FLUID, has successfully launched a new platform that will help small scale farmers access to loans, according to founder and CEO, Moustapha Seck.

Founded in January, 2020, to give fillip to local farmers who had no access to loan and credit facilities, Seck said the company has already signed a 12-month contract with a local bank to provide financing to 25,000 farmers in Northern Ghana.

“We penetrated the Ghanaian financial industry through research first. In October 2020, we partnered with 29 financial institutions to study the challenges in the rural banking space,” Seck said while announcing the launch of the platform.

“Through this engagement, we developed FLUID SafeSusu, a mobile application to create bank accounts and track savings deposits in rural areas without connectivity,” Seck, who left his job at the Canadian investment fund, Clearco, to pursue his goal of helping the poorest Africans access financial services, said.

He added that the FLUID SafeSusu platform has piloted with four banks and connected 26,000 bank accounts to its platform, with an investment fund base of $200,000 in savings deposits.

“Our research led us to discover that half of Ghanaians work in agriculture, but only 4.6 per cent of loans go to farming. This disparity leaves close to 12.5 million smallholders farmers in Ghana financially excluded.”

“While banks use many different technology providers to be closer to the field, only FLUID and AgroCenta, to our knowledge, focus on the huge market of smallholder financing. FLUID stands alone in its focus on mitigating risks for the bank and the farmer,” he added.

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Critical digital-skill gap hindering Morocco’s drive to be Africa’s Tech destination hub, experts say

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Participants at the ongoing Huawei Talk currently ongoing in Casablanca, Morocco, has blamed a 15-year gap in the country’s digital strategy as an hindrance to its ambitions of becoming a regional tech hub.

The keynote speaker at the event, Nabil Ouchagour, Huawei’s Chief Brand Officer, in his speech, argued that the lack of qualified labor is one of four major challenges facing Morocco on its journey to becoming a digital nation.

“While Morocco is currently on the run to become a regional tech hub, the country lags behind in terms of qualified labor,” the Huawei executive said on Saturday.

The event which tech brings experts to deliberate on key issues facing Morocco’s transition to a digital economy, are deliberating on Morocco’s critical digital-skill gap which is seen as an emerging core challenge facing the country’s ambitions to host tech-related business activities.

“In many universities, the skills that are being taught will be obsolete soon,” Ouchagour noted, suggesting that Morocco’s digital-skill gap is the core challenge facing the country’s ambitions to host tech-related business activities.

“Developing connectivity, data treatment capability, decarbonization are equally crucial to support this transition,” he added.

Citing research commissioned by Huawei in 2021, the executive argued that Morocco needs to focus on adapting its education system to the fast-moving digital world.

“The country should equally focus on training individuals capable of adapting and acquiring new skills as they enter the job market.”

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Egypt’s ed-tech startup, Almentor, secures $10m funding to accelerate expansion into MENA region

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Egyptian ed-tech startup, Almentor, a leading online video Arabic learning platform, has announced securing a $10 million pre-Series C round funding to help it accelerate growth into other MENA regions.

The CEO and co-founder of Almentor, Ibrahim Kamel, who made the disclosure on Friday, said with the funding, the platform is on the verge of achieving its goal of serving 10 million learners in the MENA region.

“Almentor aims to serve 10 million learners across the MENA region, and with the a $10 million pre-Series C funding from e& capital, the tech investment arm of e&. e& capital, and other investors like Partech, Sawari Ventures, Egypt Ventures, Sango Capital and Endure Capital, we are on the verge of getting there,” Kamel said.

“Empowering 10 million learners is a key milestone in Almentor’s broader vision of creating hope and development opportunities for the people in MENA.”

Founded in 2016, Almentor has worked with more than 950 prominent experts to create over 1,000 online courses for individuals, corporations, and government entities, combining a personalised learning experience with high-quality Arabic content.

With a choice of monthly or annual subscription, learners get unlimited access to a library of over 700 courses on topics as diverse as health, humanities, technology, entrepreneurship, business management, lifestyle, drama, sports, corporate communication, and digital media.

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