Tech

South Africa’s legal-tech startup launches contract management service

Published

1 year ago

October 27, 2023

South Africa’s legal-tech startup, Contract Understanding has launched a contract management service which will be powered by an Artificial Intelligence software-as-a-service (SaaS) aimed at transforming how companies manage their legal contracts.

According to Norman Kretzmer, the founder and CEO of Contract Understanding, the startup that has successfully developed an AI and machine learning powered platform that streamlines contract management which has been a “cumbersome, error-prone, and a time-consuming process.”

Kretzmer said with the new service, the company’s technology enabled
businesses of all sizes to “gain visibility into their contracts, mitigate contract risks, easily meet deadlines for renewals or cancellations, and automate processes.”

“Our solution enables companies to take complete control of their contract benefits, obligations, and renewals. The software analyses and extracts key data from each contract, offering complete visibility into every contract a company manages,” he said.

“As entrepreneurs running medium-sized businesses, we encountered a range of challenges and frustrations in managing contracts after they’re signed.”

“Pain points include losing track of the physical paperwork, missing deadlines to renew contracts on favourable terms, missing deadlines to cancel contracts before they auto-renew, losing out on benefits such as incentives or discounts due under a contract, or incurring penalties for non-compliance with contracts.

“We founded Contract Understanding to help other businesses optimise contract management and avoid these potentially expensive pitfalls,” he said.

According to the CEO, the startup plans to raise external capital to fund its growth and to further develop its product as it is focused on gaining early adoption of its solution.

“We offer one of the first artificial intelligence-powered SaaS solutions for contract management that is affordable and accessible to mid-sized and large companies.

“In addition to South Africa, our other target markets include African economic powerhouses such as Egypt, Kenya, and Nigeria as well as the Asian financial hubs of Singapore and Malaysia. We will consider further geographic expansion once we have bedded down our business in our initial target markets,” said Kretzmer.

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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