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

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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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Tanzania’s horticultural industry gets $2.1m grant from TradeMark Africa to boost market expansion

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The Tanzanian horticultural industry has recieved a grant of $2.1 million from TradeMark Africa to enable it boost its market expansion.

According to TradeMark Africa’s Regional Director for East and Central Africa, Ms. Monica Hangi, the Tanzania Horticultural Association (TAHA) and TradeMark signed a grant agreement to initiate the Phase II of their collaborative project

“The Phase I of the project which ran from January 2019 to June 2023, yielded tangible results, with 27,854 farmers (35% women, 65% men, and 40% youth) linked to markets, and approximately 50,000 tons of horticultural products worth roughly TZS 42.7 billion (US$18.3 million) sold.

“This second phase, backed by a $2.1 million (Tzs 5.4billion) grant from TMA funded by the Foreign, Commonwealth & Development Office (FCDO), Norway, and Ireland, spans three years and focuses on advancing market access, promoting sustainable trade practices, and empowering local farmers in the horticultural industry,” she said in a statement on Wednesday.

Hangi noted that despite notable successes recorded with the first phase, the sector continues to face substantial challenges, including limited financing access, climate change impacts, and inadequate market information, which could hinder growth.

“These challenges necessitate a united approach from both the government and private sector, incorporating policy support, research and development investment, and development sector initiatives aimed at improving market and credit access for farmers,” she said.

She added that the grant highlighted the significance of supporting the horticultural sector, particularly in mitigating unemployment among youth and women.

“Our commitment through this substantial grant is to upscale production, increase export volumes, and, consequently, job opportunities, thereby reinforcing Tanzania’s standing in the global horticultural market,” said Hangi

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Civil society group says planned online regulation under IBA Act, an affront on media freedom (Video)

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Chapter One Foundation Executive Director, Linda Kasonde, says the planned online regulation under the new Independent Broadcasting Authority (IBA) Act is an affront to media freedom and freedom of expression.

Kasonde said most of the countries which have regulations in place for online content like Podcasts are well known for dictatorship type of governance.

She said this during the Foundation’s public forum on the IBA Act titled the new IBA Act: “Are media freedoms under threat” in Lusaka on Friday evening.

“It’s worthy listing the countries that regulate online broadcasting and these area as follows China, Eriteria, Cuba, Iran, North Korea, Belarus, Burma and Tagministan and if you pay attention to this list you will notice that these are well established dictatorship,” Kasonde stated.

She urged government not to join such countries which do not respect freedom of expression and in the end deny people access to the right information.

She added that the Cyber Security Act also aggravated the situation in Zambia of inhibiting democratic values and media freedoms.

Kasonde advised that government should not create unnecessary barriers to information that would inhibit the market place to ideas from freely being allowed to flow.

“So if Zambia does decide to enact the new IBA Act what would be the potential consequences to freedom of expression in our country,” she asked.

Kasonde noted that with the existing IBA Act, the country had seen the law weaponised and used to shut down private or independent broadcasters such as Prime TV, Komboni Radio and KBN News.

She said the proposal on regulating public broadcasters which had been getting away with a number of issues as a result of politics was welcome and would be supported and not the regulation of online broadcast.

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