Tech

Standard Chartered Kenya selects 15 women-led startups for Cohort 6 of ‘Women-in-Tech’ program

Published

1 year ago

June 29, 2023

Standard Chartered Kenya has selected 15 women-led startups for its 2023 “Women-in-Tech” business incubation program where the final seven will recieve $10,000 each to grow their businesses.

This year’s edition, which is the sixth cohort of the business programme, according to Standard Chartered’s Head of Corporate Affairs, Brand and Marketing East Africa, Ms Joyce Kibe, is in partnership with @iBizAfrica— Strathmore University and will “support female-led entrepreneurial teams with business management training, mentoring, and seed funding.”

“Standard Chartered Women in Tech (WiT) has selected top 15 teams from a pool of over 250 startups that applied for the program from different sectors, such as agritech, fintech, the healthcare industry, mobility tech, disability tech, and the construction industry. This is an increase from the previous cohorts, where 10 businesses were incubated and 5 startups per cohort each received funding,” said Kibe.

“Our continued funding of this program is as a result of research that indicated that female-led startups in Africa attracted less funding in 2022 compared to male-led startups in the region.

“Women-led enterprises were more challenged by societal bottlenecks and financing limits, so we are pleased to contribute to closing the gap through increased capacity building and focused funding toward female-led enterprises.

”I, therefore, encourage the beneficiaries to maximize this opportunity as we empower them to champion more diversity in technology and advance entrepreneurial and leadership excellence.” she added.

Kibe said since inception, the program had trained more than 10 small and medium businesses leveraging on technology by offering mentorship, advisory, coaching, networking opportunities, access to seed capital, and investor forums that help mould their businesses to international standards.

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Tech

DR Congo sues tech giant Apple over illegal mineral exploitation

Published

15 hours 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

Tech

Moroccan retail-tech startup Z raises $1.5m to drive intense growth

Published

4 days ago

December 15, 2024

Isaac Dachen

Morocco-based B2B retail-tech marketplace, ZSystems, has announced closing a $1.5 million seed funding round which will see it carry out its ambitious expansion dreams.

In a statement by co-founder and CEO, Meriem Benabad, the funding round was led by Morocco-based Venture Capital firms, MNF Ventures (through its MNF II fund), Witamax (through Fund II and III), Cash Plus Ventures, and Kalys Ventures.

“This funding marks a pivotal moment for Z, as we aim to scale operations and bring cutting-edge solutions to traditional retail.

“Our vision is to empower small businesses and unlock growth across Morocco and Africa,” Benabad said.

According to Benabad, the newly acquired capital will support Z’s technology development, product catalogue expansion, and preparation for its next growth phase.

“Z is reshaping the retail landscape by integrating technology and innovation across the value chain. Its scalable platform empowers traditional retailers and brands with direct access to consumers, reviving competitiveness in traditional trade (hanouts), which accounts for 85% of the FMCG market,” he added.

Founded in 2022 by the trio of Benabad, Samer Choumar and Youssef Ait-Haddouch, Z’s platform empowers traditional retailers and brands with direct access to consumers, reviving competitiveness in traditional trade (hanouts), which accounts for 85% of the FMCG market.

Since launch, the startup has helped over 15,000 active retailers, and seen more than 800,000 orders placed.