Tech

Climate-tech capital venture, Equator launches $40m start-up fund

Published

2 years ago

April 8, 2023

Africa-focused climate-tech capital venture, Equator has launched an initial $40 million fund aimed at supporting seed and series a-stage tech-enabled ventures in the sectors of energy, agriculture and mobility in sub-Saharan Africa.

The global venture capital firm which has its African teams in Lagos, Nigeria, and Nairobi, Kenya, is seeking to invest in high-growth, ready-to-scale ventures that are driven by technology and business model innovation in their quest to address material economic and sustainability challenges in the region.

While announcing the funding, Nijhad Jamal, managing partner of Equator, said though Africa accounted for less than 3% of the world’s energy-related carbon dioxide emissions to date, Africans would be among the world’s most affected by the negative impacts of climate change.

“Our partners are some of the most experienced and well-connected investors in Sub-Saharan Africa and within our target sectors.

“They are highly committed to providing expertise, networks and capital directly to our portfolio companies, which is a game-changer for early-stage start-ups.

“Equator was founded with the intention of accelerating an equitable climate transition in Sub-Saharan Africa by providing much-needed capital and active hands-on support to climate-tech ventures at a critical juncture in their start-up journey.

“We have a unique and diverse team of technologists, operators and investors united by our obsession to drive momentum in the campaign for climate action in Sub-Saharan Africa.

“Our deep in-market presence, combined with our global experience and reach, allows us to forecast trends and develop theses that underpin our investments in proven technology and business model innovation to address local market challenges,” Jamal said.

Click to comment

Tech

Kenya’s ticketing startup BuuPass partners Flexpay for flexible travel payments

Published

2 days ago

December 19, 2024

Isaac Dachen

Kenyan digital ticketing startup, BuuPass, has entered into a partnership with goal-based savings platform, Flexpay, to offer customers flexible payment plans ahead of holiday travels as well as simplify travel planning and ease the financial burden of holiday travel for Kenyans.

Co-founder and CEO at Buupass, Sonia Kabra, who unveiled the package at a press conference, said the collaboration between the two platforms will allow travellers to save for their journeys in manageable, interest-free installments over four to 12 weeks.

“Travelers can select their travel dates, book tickets, and pay a small deposit upfront, with the remaining balance spread across weekly or monthly payments,” she said.

“This approach offers a stress-free way for families and large groups to secure their tickets early, helping them avoid last-minute price hikes as fares are locked in.

“By partnering with Flexpay, we’re giving travelers the flexibility to budget for their trips in advance. This initiative aligns with our mission to make travel accessible to everyone, providing a solution that meets customers where they are financially,” said Kabra.

Also speaking at the event, Richard Machomba, CEO and founder of Flexpay, said:

“Flexpay’s mission is to empower individuals by providing accessible financial solutions that make it easier for them to achieve their financial goals.

“By partnering with BuuPass, we’re making travel more accessible and stress-free for Kenyans, especially during the holiday season when expenses can be overwhelming,” Machomba added.

Founded in 2016 by Kabra and Wyclife Omondi, BuuPass is a B2B2C mobility marketplace that enables users to search, compare, and book travel tickets via web, app, or USSD, while its SaaS platform helps bus operators manage their operations, inventory, and sales.

FlexPay, on the other hand, is an online and offline payment gateway that allows merchants to offer interest-free targeted savings to their customers in Africa.

Tech

DR Congo sues tech giant Apple over illegal mineral exploitation

Published

3 days ago

December 18, 2024

Isaac Dachen

The Democratic Republic of Congo (DRC), has filed a criminal case against the European subsidiaries of tech giant, Apple, accusing them of illegal mineral exploitation and allegedly using “blood minerals” in its supply chain.

In the suit filed on Tuesday, the DRC alleges that Apple has bought contraband supplies from the country’s conflict-ladden east and Rwanda, zones in which it allege the materials are mined illegally and then integrated into global supply chains before ending up in tech devices.

The DRC suit specifically mentioned Apple subsidiaries in France and Belgium, accusing the tech giant of using conflict minerals in its supply chain.

The DRC is a major source of tin, tantalum, and tungsten which are used in electronic devices, with some mines controlled by armed groups responsible for human rights violations.

International lawyers representing the African country’s government have accused Apple’s local subsidiaries of taking these minerals from conflict areas and laundering them through international supply chains, with one lawyer telling journalists that Belgium had a moral duty to act given its history of exploiting the country’s resources under colonial rule.

However, in its response, Apple claims it conducts supplier audits and does not directly source primary minerals.

https://www.thenews.com.pk/print/1262670-dr-congo-sues-apple-over-alleged-illegal-mineral-exploitation