Connect with us

Tech

Visa picks 23 African startups for maiden Fintech programme

Published

on

Visa has finally selected 23 startups out of a pool of 40 for its maiden Africa Fintech Accelerator programme, with the aim of enabling them through expertise, connections, technology, and investment funding.

The initiative was introduced by Visa Executive Chairman, Alfred F. Kelly Jr. at Bloomberg New Economy Gateway Africa in Marrakech, Morocco, in July, with Kelly Jr. saying the programme will enable up to 40 start-ups each year to accelerate and grow through a three-month intensive learning program focused on business growth and mentoring.

“On completion of the accelerator programme, Visa intends to further support fintech growth with capital investment in select participating businesses, while accelerating their commercial launch through access to Visa technology and capabilities,” he said.

“The launch of the Africa Fintech Accelerator program follows Visa’s recent pledge to invest $1 billion in Africa’s digital transformation and its long-term commitment to advancing Africa’s economies and driving inclusive growth.

“Africa has one of the most exciting and admired fintech ecosystems in the world, bringing outstanding entrepreneurial talent to a young digital-first population that is growing fast.

Visa has been increasing our investments in Africa for decades and strengthening partnerships throughout the continent to support the next wave of innovation and growth. Our new Fintech Accelerator will bring expertise, connections, and investment to Africa’s best fintech start-ups so they can grow at scale,” he added.

The selected 23 startups, which will form the first cohort of the programme, include five from Nigeria, namely Anchor, Dojah,
Moni, Orda Africa, and Traction.

Kenya has four startups, including OkHi, Duhqa, Power and Workpay, while Ghana also has four representatives— OZÉ, The Blu Penguin, AgroCenta, and Affinity Africa.

Three startups were selected from Morocco, namely Chari, PayTic, and platform Weego, as well as South Africa— Floatpays, Franc, and OnLife. Egypt has Sympl, Uganda has Eversend, Zambia has PremierCredit, and Tunisia has Konnect.

Tech

Again, Starlink raises prices of its services in Nigeria

Published

on

Elon Musk’s satellite internet service provider, Starlink, has again jacked up the prices of its services in Nigeria after an earlier increase caused uproar among customers.

The service provider, in a statement released on Friday, informed its Nigerian customers that it would raise its monthly subscription prices, with the new rates set to take effect on January 27, 2025.

Under the new pricing regime, the lowest subscription tier will increase significantly from ₦38,000 to ₦75,000 per month, while mobile global roaming service will now cost ₦717,000 monthly.

The company stated that new subscribers will immediately pay the adjusted prices while existing customers will see the changes reflected in their upcoming bills.

In an email sent to users, Starlink said:

“To continue enhancing the Starlink network and provide reliable, high-quality service across Nigeria, we are adjusting our monthly subscription prices.

“These changes are part of our ongoing commitment to investing in the infrastructure needed to improve your experience with Starlink.”

This is the second time Starlink has attempted a price hike in Nigeria. The Nigerian Communications Commission (NCC) has rejected its previous increase in October on the grounds that the company had not sought the necessary regulatory approval.

However, insiders believe the NCC is set to approve an increase in the first quarter of 2025, which gives credence to insinuations that Starlink may have gotten an approval for the price increments.

Continue Reading

Tech

Safaricom Ethiopia launches 4G network in Gambella

Published

on

Ethiopia’s second largest telecom provider, Safaricom Telecommunications Ethiopia P.L.C., has announced the official launching of its 4G network services in Gambella and other surrounding areas.

The launching of the 4G network in the region, according to Safaricom Ethiopia CEO, Wim Vanhelleputte, highlighted the significant impact that enhanced telecommunications infrastructure could have on the region’s social and economic progress.

“In line with our commitment to digital education, Safaricom Ethiopia donated 20 laptops and 4 routers, including six months of free internet, to two high schools in Gambella City, supporting digital literacy and educational opportunities for local students,” Vanhelleputte stated.

Vanhelleputte reaffirmed Safaricom Ethiopia’s commitment to expanding its reach and ensuring that more regions gain access to reliable and high-speed internet.

“The introduction of the 4G network in Gambella is designed to deliver significant advantages to the local community,” he said .

“Enhanced connectivity will open doors to better access to information, education, and healthcare services. Additionally, it will create new opportunities for businesses and entrepreneurs, driving economic growth and development within the region.

“Safaricom Ethiopia’s move into Gambella aligns with its broader strategy to extend 4G coverage to more areas, furthering its mission of fostering nationwide connectivity,” the CEO added.

Alemitu Oumud, President of the Gambella Region who also spoke at the event, stated that, enhanced infrastructure is driving positive social and economic growth in our region.

“We commend Safaricom Ethiopia for its contributions to job creation, improving connectivity, and making Gambella a more attractive destination for investment,” Oumud said.

He stressed the potential of the new 4G network to drive business activities, attract investments, and foster entrepreneurship in the region.

Continue Reading

EDITOR’S PICK

VenturesNow3 days ago

Nigeria: Marketers predict further price cut as another refinery begins operations

Oil marketers and the Nigerian Midstream and Downstream Petroleum Regulatory Authority expect refined petroleum product prices to reduce as another...

VenturesNow3 days ago

Kenya: Consumer inflation rises to 3.0% from 2.8%

Kenya’s statistics agency said on Tuesday that Kenya’s consumer price inflation increased slightly to 3.0% year-over-year in December from 2.8%...

VenturesNow3 days ago

South Africa’s Transnet’s half-year deficit hits $117m

Transnet, a state-owned logistics company in South Africa, announced on Tuesday that it had lost 2.2 billion rand ($117.48 million)...

Musings From Abroad3 days ago

Nigeria, China extend $2bn currency swap deal

A 15 billion yuan ($2 billion) currency-swap arrangement between China and Nigeria has been extended to boost investment and commerce...

VenturesNow3 days ago

Egypt’s central bank maintains overnight rates

As anticipated, Egypt’s central bank has maintained its overnight interest rates, stating that although inflation was predicted to drop significantly...

VenturesNow3 days ago

Illicit flows cost Nigeria, others $1.6bn daily— AfDB

According to the African Development Bank (AfDB), illicit money flows and profit shifting by multinational corporations doing business in Africa...

Metro5 days ago

‘Don’t start what you can’t finish’, ex-Nigerian official replies President Tchiani

Former Nigerian Aviation Minister, Femi Fani-Kayode, has told President Abdourahamane Tchiani of Niger Republic to refrain from making infantile and...

Tech6 days ago

Again, Starlink raises prices of its services in Nigeria

Elon Musk’s satellite internet service provider, Starlink, has again jacked up the prices of its services in Nigeria after an...

Sports6 days ago

Former President of Moroccan club Raja sentenced to 3 years in prison

The former President of Moroccan top club, Raja Casablanca, Mohamed Aouzal, has been sentenced to three and a half years...

Metro6 days ago

Zambia announces second case of Mpox as country battles cholera outbreak

The Zambian Ministry of Health has reported a second case of Monkeypox, popularly known as Mpox, in Kitwe region of...

Trending