Tech

Kenya’s Absa Bank launches ‘Change Your Story’ campaign to encourage digital banking

Published

4 weeks ago

September 14, 2024

Absa Bank Kenya has launched a new promo known as “Change Your Story” campaign aimed at encouraging customers to use digital channels and card payments.

Absa Bank Kenya Consumer Banking Director, Moses Muthui, who spoke during the launch of the campaign on Friday, said the initiative was part of the bank’s larger efforts to promote financial inclusion and improve user experience.

“The “Change Your Story” campaign is aligned to our brand promise and goes beyond rewarding our customers. It seeks to bridge the gap in digital banking among Kenyans, promoting a shift from cash heavy transactions to secure, convenient, and user-friendly digital and card transactions,” Muthui said.

“This initiative is one of many steps we are taking to support our customers’ stories by building a more inclusive financial ecosystem, where every transaction has the potential to transform lives. Through this, we are rewarding those who engage with us while simultaneously raising awareness of the benefits of card usage for both customers and non-customers.”

He added that the campaign which will run up to 31 December 2024, will feature grand prize draws, with three winners each walking away with KES 1 million.

“Additionally, there will be weekly draws offering shopping, dining, or weekend getaway vouchers throughout the campaign.

“As part of the campaign, customers will also win holidays to the Masai Mara, Ol Pejeta and Amboseli National Parks as well as trips to the Nairobi National Park and fine dining and fuel vouchers. The grand prize will be awarded monthly to three customers during the campaign.

“All current and prospective customers can participate by signing up for an Absa Card, and other digital channels and using them for their day-to-day transactions,” he said.

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Tech

Nigeria’s agri-tech startup Winich Farms raises $3m to expand operations

Published

19 hours ago

October 8, 2024

Isaac Dachen

Nigerian agri-tech startup specialized in the supply of farm grain produce to retailers, Winich Farms, has announced raising $3 million in pre-series A funding to expand its operations which include the enhancement of its order fulfillment centers and upgrade of its technology.

The funding round, which was led by Acumen Resilient Agriculture Fund (ARAF), with a contribution of $2.5 million, alongside participation from Climate Resilient Africa Fund, Marula Square, Plug and Play Tech Centre, Acasia Ventures, Tekedia Capital and Additio Sahel Capital which provided $590,000 in debt financing, marks the company’s second funding round in two years.

The startup which was founded by brothers Riches and Winner Attai, along with Chichebem Jibunoh, in 2020, connects rural farmers to off-takers, retailers and informal processors, by operating collection points managed by agents who handle orders from off-takers.

“Our growth has largely been driven by the expansion of agents on our platform,” Riches, the CEO of the company said in a statement.

“In 2022, we had approximately 1,000 agents, but by the beginning of 2024, we had grown to over 4,000 agents, quadrupling our capacity. With more agents, we are able to meet demand more efficiently,” he said.

He however, added that company’s current model faces challenges, as its partner farmers are primarily located in northern Nigeria, leading to slower deliveries to more distant regions such as Lagos. Despite this, the agritech company claims to serve over 150,000 users, including farmers, agents, and truck drivers.

“To speed up deliveries for retailers in Lagos, instead of sourcing produce like rice from farmers in faraway Kebbi or Kaduna, we process orders from closer locations such as Ondo State,” explained Riches.

“For example, when a retailer orders 50 kilograms (kg) of rice via the company’s mobile app, the order is relayed to agents for bidding. These agents then coordinate with local farmers in the area to gather the produce, which is transported to collection points and handed over to truck drivers for delivery within 24 to 72 hours.”

“The solution is to establish fulfillment centers. The debt funding will be used to lease buildings that will serve as regional distribution hubs across Nigeria’s six geo-political zones, reducing delivery times for off-takers,” he added.

Tech

15 startups emerge winners in 4th Egypt Entrepreneur Awards

Published

2 days ago

October 7, 2024

Isaac Dachen

Organizers of Egypt’s Entrepreneur Awards have announced 15 startups as winners of the fourth edition of the annual awards held on Sunday in Cairo.

This year’s edition of the awards which had the theme “Breaking Silos Together: Building Resilience and Embracing Opportunity”, was sponsored by ievents and Tatweer Misr, along with EGBANK, Orange Egypt, PepsiCo and others.

According to the organizers, the Outstanding Youth Entrepreneur Award went to Sight founder Hussein Shahbender, while the Sports and Wellness Award went to SR Padel and the Disruptor of Traditional Industries Award to ILLA Logistics.

2oolameme was named Art to Business Award winner, with the Content Innovation Award going to Peace Cake and the Digital Solutions and Customer Experience Award given to Synapse Analytics.

The Environmental Sustainability Award went to Mozna, the Fashion Vanguard Award to Pepla, and the Fintech Excellence Award to Menthum while the Global Reach Achievement Award went to Technobit, and the Local Hero Award went to Raw African.

The Product Design & Innovation Award was won by SAL, while Willy’s won the Quick Serve Restaurant Champion Award and Reme-D the Rising Star Award, just as Rology and Astrazeneca took home the Disruptive Duo Award, rounding off the winners.