Tech

Nigeria’s mobility startup, Moove raises $8m to expand fleet into Ghana

Published

1 year ago

July 8, 2023

Nigeria’s mobility fintech startup, Moove has announced raising $8 million from Absa Corporate and Investment Banking (CIB) in its bid to expand its vehicle fleet into Ghana.

Moove, which is the largest vehicle supplier for Uber, in a statement by CEO and co-founder, Ladi Delano, said the new finance “will not only open the door for a host of new customers to start their entrepreneurial journey with the company, but also establish a new pipeline of manufacturing jobs across Accra.”

“We’re delighted to be strengthening our partnership with Absa, whose support has played a pivotal role in accelerating Moove’s growth since becoming our first bank partner in 2022.

“The new expansion is expected to further propel Moove’s sustained traction in Ghana, which has seen the delivery over 2.7 million trips through Moove-financed vehicles, and cover over 3,000 lives through its health and life insurance policies for its customers and their dependents.

“Our latest collaboration not only reinforces our shared commitment towards driving our local economies forward, but also the transformative role that the provision of affordable, high-quality vehicles can play in achieving this goal,” said Jephthah Datsomor, Moove’s country manager for Ghana.

“In light of Ghana’s current economic challenges, there arguably hasn’t been a more critical time in recent years to invest in the potential of its young people.

“With this in mind, we’re proud to be in an even stronger position to break down the barriers to a wealth of employment opportunities and further empower Ghana’s emerging class of mobility entrepreneurs,” he added.

Founded in 2019 by Delano and Jide Odunsi, Moove democratises vehicle ownership in Africa by providing revenue-based vehicle financing to mobility entrepreneurs by embedding its alternative credit scoring technology into ride-hailing, e-logistics and instant delivery platforms.

In June, the company also raised $20 million financing facility from Absa for its South Africa operations, and its latest funding from the bank will play a crucial role in bolstering its existing fleet of brand-new, fuel-efficient Suzuki S-Presso vehicles, which will be assembled in Ghana.

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Tech

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

Published

12 hours 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

2 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