Tech

Cameroon’s digital wallet startup, Koree plans expansion across Francophone Africa

Published

1 year ago

September 2, 2023

Cameroonian digital wallet startup, Koree, is planning to expand its operations across Francophone African countries after securing funding from Catalytic Africa.

The innovative startup recently received €20,000 from Cameroon Angels Network (CAN), as well as unlocking a 3X matching investment of €60,000 from Catalytic Africa, a co-investment fund established by the African Business Angels Network (ABAN) and AfriLabs.

Koree is a consumer app that allows customers to digitally collect their spare change from cash retail payment roundups, and earn cashback from stores and brands across multiple categories.

The platform has gone on to develop a product that lets merchants handle payments in cash, which represents 85 per cent of offline merchant transactions in the region.

Koree founder and CEO, Magalie Gauze-Sanga, who spoke on the planned expansion on Friday, said the startup was desirous of pushing its offerings beyond Cameroon.

“The coins and low value bills scarcity in French-speaking countries in Sub-Saharan Africa has been ongoing for over a decade, slowing the velocity of retailers’ transactions,” he said.

“Either merchants have to buy spare change on the black market for a high fee, transactions are distorted with unnecessary goodies, or transactions are aborted because merchants don’t have the necessary change that needs to be returned to customers.

“This issue is particularly affecting low value transactions which are mostly common among lower income populations. In the inflationary environment in which we live, unevenly rising prices inevitably reduce the purchasing power of consumers.

“It is all the more true in FSSA where consumers have one of the lowest purchasing power in the world.

“Our product also helps consumers earn money off all of their purchases whether they are paid via cash, mobile money or bank card,” Gauze-Sanga said.

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Tech

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

Published

1 day 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