Tech

India pledges $2m to fund Africa’s digital financial inclusion project

Published

1 year ago

August 12, 2023

The Indian government has pledged to contribute $2 million to the Africa Digital Financial Inclusion Facility (ADFI) which is managed by the African Development Bank (ADB) in a bid to assist the continent in “breaking down barriers to growth and uptake of digital financial solutions and accelerate financial inclusion in Africa.”

Additional Secretary in the Department of Economic Affairs and Principal ADFI Governing Council Member for India, Manisha Sinha, who made the announcement on Saturday, said “the unique, affordable, inclusive, and equitable model of India’s Digital Public Infrastructure (DPI) offers shared learning opportunities across the digital finance ecosystem.”

“India’s pioneering role in digital financial services, extending financial inclusion to remote rural areas and creating infrastructure for digitisation of financial services, opens a significant opportunity for India to work within the ADFI partnership to share learning and expertise on digital public infrastructure to further digital financial inclusion across the continent,” Sinha said.

He added that India’s collaboration with ADFI would enable the facility to learn from best practices and help scale up initiatives to meet the needs of financially excluded and underserved people in Africa.

Responding, African Development Bank Vice President for the Private Sector, Infrastructure and Industrialization, Solomon Quaynor, said:

“We welcome the Government of India’s support of the catalytic role ADFI has been playing in accelerating greater access and usage of digital financial solutions and financial inclusion across the continent.

“We look forward to working together to add learning from India’s digital public infrastructure success story within our expanding portfolio of digital financial solutions initiatives to enhance the impact on greater economic empowerment, resilience and growth across Africa.

“ADFI is working to scale innovative digital financial solutions under the three broad strategic pillars of infrastructure, policies and regulations and product innovation, capacity building and gender inclusion cut across all interventions”.

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Tech

DR Congo sues tech giant Apple over illegal mineral exploitation

Published

13 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.