Tech

DeFi Technologies partners Nairobi Securities Exchange to facilitate digital assets trading in the African market

Published

3 months ago

August 13, 2024

Global financial technology company, DeFi Technologies, has announced a partnership between its subsidiary, Valour Inc., the Nairobi Securities Exchange (NSE), and SovFi Inc., to facilitate the creation, issuance, and trading of digital asset exchange-traded products (ETPs) in the African market.

According to Frank Mwiti, the CEO of the Nairobi Securities Exchange, the key objectives of the Memorandum of Understanding (MoU), include facilitating the creation, issuance, and trading of digital asset ETPs on the NSE by leveraging Valour’s extensive expertise in digital assets and ETPs.

“The MOU aims to deploy financial products developed by Valour and SovFi, develop market infrastructure and enhance market access to global capital through tokenized finance primitives and real-world assets.

“The expected outcomes of this MOU are significant. For the NSE, the collaboration will enhance product offerings, attract a broader investor base, and benefit from increased trading volumes and market activity, thereby further solidifying its role in the growth of Kenya’s economy and as leading African securities exchange.

“This collaboration with Valour and SovFi is set to bolster NSE’s position as a leading financial hub in Africa, offering innovative investment opportunities to a diverse range of investors and contributing significantly to the growth of Kenya’s economy.

“We are thrilled to embark on this groundbreaking partnership. This collaboration aligns perfectly with our vision to position the NSE as a leading financial hub in Africa.

“The passporting of Valour’s ETPs to the NSE will significantly enhance our product offerings. By facilitating the creation, issuance, and trading of digital asset ETPs we are opening new avenues for both local and international investors.

“This move will not only diversify our market but also contribute to the growth of Kenya’s economy. We look forward to leveraging Valour’s expertise in digital assets and SovFi’s innovative financial solutions to bring cutting-edge investment opportunities to our market,” he added.

Also reacting to the MoU, Olivier Roussy Newton, Chief Executive Officer of Defi Technologies said:

“This MOU marks a significant milestone in Valour’s mission to expand access to digital asset investment products globally.

“By leveraging our expertise in issuing innovative ETPs and facilitating the passporting of our financial instruments to the NSE, we aim to provide investors with secure and regulated exposure to the dynamic world of digital assets.

“Our collaboration with the NSE and SovFi will enable us to expand our product offerings and market reach in Africa, while contributing our technical knowledge and experience in digital asset-based financial products to develop market infrastructure.”

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Tech

Tanzania to host 6th Ocean Innovation Africa summit in February

Published

22 hours ago

November 20, 2024

Isaac Dachen

Dar es Salaam, Tanzania, has been selected to host the sixth edition of the Ocean Innovation Africa (OIA) summit from February 24-28, 2025, as a flagship event within Regenerative Ocean Week.

The Ocean Innovation Africa is set to be Africa’s most significant platform for Ocean Innovation conservation, and sustainable development in the blue economy. OIA2025 will be co-organised with leading partners, including IUCN, GIZ, OceanHub Africa, Catalyze and the Ocean-Climate Platform.

With the theme, “Science-to-Solution”, the Regenerative Ocean Week will present a line-up of sessions designed to bridge the gap between scientific research, business innovation, policy, and community engagement.

According to the organizers of the event, it will bring together African ocean innovators, investors, researchers, policymakers, and community leaders to explore practical solutions that can be applied across the continent.

“These include the OIA Pitch Competition, which is a platform for Africa-based startups and entrepreneurs to showcase breakthrough ideas in ocean-impact solutions, allowing them to connect with investors and industry leaders and emphasizing Africa’s role in driving sustainable ocean initiatives,” the organizers said in a statement.

Tech

Orange Egypt earmarks $52.7m to support African startups

Published

2 days ago

November 19, 2024

Isaac Dachen

Orange Egypt has earmarked the sum of $52.7 million to support African startups in what is going to be the largest investment to drive a youth-focused tech revolution.

According to the company, the mammoth investment will see over 40 startups benefitting from the funds, with most of them being Egyptian companies.

‘It’s a boost for Egypt’s growing entrepreneurial ecosystem and a step closer to cementing its spot as a top startup hub in Africa,” the company said in a statement.

The investment is coming on the heels of the telco signing a deal with the Egyptian government to roll out the second phase of its 5G licensing.

The statement noted that with Egypt’s startup game already strong and ranking as the third most funded country in the MENA region, “the numbers speak for themselves.”

“In 2022, Egyptian startups closed 143 funding deals worth nearly $766.7 million, outpacing the $606.79 million raised the year before.

“Plus over 2,100 startups employing more than 50,000 people, the country’s ecosystem is one of the top 10 emerging startup hubs globally.

“The Egyptian government is all in on this. And since launching initiatives like Egypt Ventures in 2017, they’ve been backing startups to drive innovation and growth in the tech space.

“Orange Egypt’s latest move only adds fuel to this already blazing fire, paving the way for more opportunities and a stronger startup culture across Africa,” it added.