Tech

Visa partners Copia to deliver digital finance services for low-income Kenyan households

Published

1 year ago

December 16, 2023

Multinational payment card services provider, Visa, has teamed up with Kenyan last-mile delivery and e-commerce platform, Copia Global, to launch a digital financial services platform targeted at middle to low-income consumers in the country.

The strategic five-year partnership which was announced on Friday will see the two partners provide a digital wallet that brings together shopping and financial services into one user-friendly platform.

Speaking on the partnership, Evelyn Wangari, Director Financial Services at Copia Global, said the Copia Super-app would enable consumers to not only shop and pay but also to save and borrow.

“Customers will be able to fund their digital wallets, shop for household goods, pay in flexible ways and access additional financial services such as “Buy Now Pay Later’ credit, ‘Save Now Buy Later’ savings, build a credit score, and benefit from Visa’s loyalty solutions.”

“The partnership and rapid digitization of customers creates a huge opportunity for Copia and Visa to bank the unbanked with previously inaccessible financial services, solving financial inclusion for the mass market in Africa,” Wangari said.

She added that the partnership would enable Kenyans in the diaspora to remit funds directly into the Copia wallet for purchases of essential goods and services back home.

Also speaking, Visa Kenya Country Manager, Eva Ngigi-Sarwari, said Copia’s e-commerce platform provided the perfect springboard for Visa to bring financial services to the mass market.

‘’Copia’s network of customers, agents and delivery sub-contractors will benefit from Visa’s capabilities on contactless payments, remittances, and loyalty solutions,’’ she said.

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Tech

DR Congo sues tech giant Apple over illegal mineral exploitation

Published

13 hours 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

Tech

Moroccan retail-tech startup Z raises $1.5m to drive intense growth

Published

4 days ago

December 15, 2024

Isaac Dachen

Morocco-based B2B retail-tech marketplace, ZSystems, has announced closing a $1.5 million seed funding round which will see it carry out its ambitious expansion dreams.

In a statement by co-founder and CEO, Meriem Benabad, the funding round was led by Morocco-based Venture Capital firms, MNF Ventures (through its MNF II fund), Witamax (through Fund II and III), Cash Plus Ventures, and Kalys Ventures.

“This funding marks a pivotal moment for Z, as we aim to scale operations and bring cutting-edge solutions to traditional retail.

“Our vision is to empower small businesses and unlock growth across Morocco and Africa,” Benabad said.

According to Benabad, the newly acquired capital will support Z’s technology development, product catalogue expansion, and preparation for its next growth phase.

“Z is reshaping the retail landscape by integrating technology and innovation across the value chain. Its scalable platform empowers traditional retailers and brands with direct access to consumers, reviving competitiveness in traditional trade (hanouts), which accounts for 85% of the FMCG market,” he added.

Founded in 2022 by the trio of Benabad, Samer Choumar and Youssef Ait-Haddouch, Z’s platform empowers traditional retailers and brands with direct access to consumers, reviving competitiveness in traditional trade (hanouts), which accounts for 85% of the FMCG market.

Since launch, the startup has helped over 15,000 active retailers, and seen more than 800,000 orders placed.