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Senegal’s fintech Kori Tech develops e-wallet to ease transactions across Africa



Senegalese fintech, Kori Tech, has developed an e-wallet known as “KoriPass” with features linked to physical payment accessories like bracelets, stickers, or keychains, to help ease the process of making transactions across Africa.

Co-founder and CEO of the fintech, Nazib Ba, who unveiled the new offering on Tuesday, said Kori Tech “aims to solve a significant gap in the market concerning the inefficiencies and challenges associated with cash transactions, particularly in sectors like small retail and transportation.”

According to Ba, “KoriPass will allow users to make micro-payments at their favourite merchants, quickly and without contact, thanks to physical devices, such as bracelets, stickers, or keychains, equipped with NFC and QR code technology.”

“While there are existing payment solutions, KoriPass stands out with its unique approach leveraging NFC technology for faster transactions, change management, and reduced waiting times,” Ba said.

KoriPass is an electronic wallet associated with physical payment devices. Users without smartphones can visit a KoriPass merchant, open an account, link their preferred accessory, and fund it with cash, or else fund their wallet via the app.

“Merchants, on the other hand, do not require multiple accounts as one KoriPass merchant account allows acceptance of all mobile money providers in Senegal.”

Ba added that the early uptake of KoriPass has been promising so far with steady growth in merchant adoption and user engagement.

“The platform has seen a growing number of merchants integrating KoriPass into their businesses, attracted by its simplicity, speed, and efficiency in handling transactions,” he stated.

“KoriPass is currently operating in Senegal. The company has ambitious expansion plans to enter new markets, with a focus on francophone countries in West Africa like Ivory Coast, Benin, and Togo.”


ADB launches mapping project for African women entrepreneurs



The African Development Bank (ADB) has launched a mapping project targeting 160 women entrepreneurs’ associations in 16 African countries.

The mapping project which is supported by the Bank Group’s Affirmative Finance Action for Women in Africa (AFAWA) initiative and Gender Equality Trust Fund (GETF) will strengthen the associations’ visibility, improve their institutional capacities, and facilitate access to financing, according to ADB’s Vice-President for Agriculture, Human and Social Development, Beth Dunford.

In a statement issued by the Bank, the initiative is an important step in its commitment to supporting African women entrepreneurs, promoting women’s economic empowerment and boosting inclusive growth in Africa.

Dunford who officially launched the project at a ceremony in Abidjan which was attended by several associations, umbrella organizations and coalitions of women entrepreneurs, alongside about two hundred others who joined virtually, said it was the ADB’s plan to promote collaboration and networking with women entrepreneurs in the continent.

“The African Development Bank’s Action Plan for Engaging with Civil Society 2024-2028 illustrates our commitment to inclusivity, transparency and accountability,” stated Dunford.

Also speaking at the launching, Zeneb Touré, head of the Civil Society and Community Engagement Division at the Bank, said:

“Associations of women entrepreneurs are catalysts for reforms and innovations that support female entrepreneurship and facilitate women’s access to the economic resources they need to realize their full potential.”

Ms. Dagou Yvonne Nivine Gadji, representing the SEPHIS Foundation which facilitates access to Bank funding for women-led SMEs in sub-Saharan Africa, emphasized that the associations identified for the mapping project would be “catalysts for reforms, a boost to women’s empowerment and a crucible for building the capacity of several other networks of women entrepreneurs.”

“We are truly concerned about the issue of access to funding. However, it’s very difficult in Africa, because most women don’t have a guarantee for raising the funds they need.

“There are microfinance organizations that support women, but their interest rates are very high. We think that the AFAWA programme, through the Gender Equality Trust Fund (GETF), can help us,” she said.

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Bolt Kenya launches new campaign to celebrate its drivers



Bolt Kenya has announced the launch of a new reward campaign dubbed, “Drive for a Prize”, aimed at celebrating its top-performing drivers in the country.

The campaign is part of an innovative Driver Reward Scheme designed to enhance driver engagement and empower the driver community by recognising and celebrating their outstanding contributions.

Bolt Kenya Country Manager,
Linda Ndungu, who made the announcement, said the reward campaign came following the success of a similar campaign last year, adding that the company is committed to making this year’s event even more memorable by “partnering with esteemed brands such as Oraimo, Total Energies, Naivas Supermarket, and Samsung Kenya to offer great benefits and rewards to the drivers.”

“Oraimo will offer top drivers premium phone accessories; Total Energies will provide fuel vouchers; Samsung will give them access to phones and Naivas will provide shopping vouchers for all the winners of the campaign,” she said.

“We are excited to launch the second edition of the “Drive for a Prize” campaign. Drivers are the heart of our operations, and it’s vital that we recognise and reward their dedication and hard work,” Ndungu said.

”We believe that initiatives like this will motivate our drivers to work harder, thus enhancing the quality of service for riders. This creates a win-win situation for both the drivers and the business as a whole.”

According to Ndungu, the campaign, which kicked off at the end of June, is set to run for eight weeks until the 23rd of August, during which drivers will have the opportunity to earn points based on their performance.

“The top performers will be feted at an award ceremony, where they will receive their well-deserved prizes and recognition,” she added.

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