Tech

Nigeria’s talent hub, Itana raises $2m funding to build Africa’s first Digital Free Zone

Published

1 year ago

September 7, 2023

Nigeria’s talent hub, Itana has announced raising $2 million in a pre-seed funding that will see its dream of building Africa’s first Digital Free Zone realized.

With the Digital Free Zone, Itana, formerly known as Talent City, is aiming to improve ease-of-doing-business index, drive foreign direct investment, and catalyse employment, according to its founder and CEO, Luqman Edu.

Edu, in a statement, said the Itana Talent Hub would be a “fully online jurisdiction for digital economy, with the ideal policies, business services and technology for global digital and service businesses to remotely operate and scale with ease across Africa.”

“Itana will enable global tech and service companies to situate their African operations from Nigeria, and also take advantage of globally competitive business policies and incentives,” said Edu.

“By 2027, Itana will also be coupled with an eco-friendly startup district in Alaro free zone in Epe, Lagos”, he added.

The $2 million pre-seed round was led by global venture capitalists LocalGlobe, Amplo, Pronomos Capital, and Future Africa, while the deal would bring together a “powerhouse of deep industry expertise and technical know-how from partners that have backed model digital societies such as e-Estonia, and built products that scale,” he opined.

“We are thrilled to announce this round of funding. It validates our efforts, and reiterates the aligned vision with our investors and partners to make it easy to invest and operate in Africa’s digital economy.

“The African market is still largely untapped and Itana will provide the ideal business environment that will be fully online, for global and pan-African digital and service companies to use Nigeria as an anchorage to operate with ease across the continent”, he said.

Click to comment

Tech

20 African tech-preneurs embark on Korean innovation tour

Published

1 hour ago

December 22, 2024

Isaac Dachen

The African Development Bank Group’s Innovation and Entrepreneurship Lab has selected 20 promising tech entrepreneurs from various African technology ventures and enterprise support organisations to embark on a two-week study tour of the Republic of Korea, with the aim of seeking investment and insights from the country’s innovative tech ecosystem.

The selected entrepreneurs are from 133 ventures that participated in last month’s Africa Tech Startup Forum.

The forum which will hold under the auspices of the lab’s “Leveraging the Entrepreneurial and Innovation Success of Korea to Strengthen African Enterprise Support” project, had selected entrepreneurs who pitched the best business models during the week-long virtual market access and acceleration programme preparing, training, and connecting technology ventures with opportunities.

The 20 young tech-preneurs were selected from eight African countries including Nigeria, Egypt, Ghana, Kenya, Morocco, Rwanda, South Africa, and Uganda, with the delegates spanning various sectors in the technology space.

While in Korea, the African delegates will pay visits to prestigious institutions such as Global Startup Centre, LG Science Park, the Korea Software Technology Association, and the Global Digital Innovation Network.

Speaking on behalf of the delegates, founder of Kenya-based health technology venture Zuri Health, Uche Ezadinachi said:

“I am excited to go to Korea because the country has made serious technological developments. The country is a technology-driven society, and this tour is an opportunity for me to see how we can bring such technology to Africa.

“We will share experiences with our Korean counterparts; they will learn from us as much as we learn from them,” he added.

Tech

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

Published

3 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.