Tech

UK-Kenya Tech Hub launches digital toolkit to help African entrepreneurs access markets

Published

2 weeks ago

September 30, 2024

The UK and PricewaterhouseCoopers (PwC), in conjunction with the UK-Kenya Tech Hub, has launched a digital toolkit aimed at helping entrepreneurs access markets in the Kenyan, Nigerian, and South African markets.

The toolkit, which was launched in Nairobi on Monday, was developed following a study that was aimed at understanding the practical requirements for startups to enter the three markets.

Jordan Kyongo, Head of East Africa Research and Innovation Hub at the British High Commission in Nairobi, stated that the digital toolkit contained outputs, tools, and guides that would be useful for entrepreneurs looking to enter each of the target countries and markets.

“This exercise was critical in understanding the requirements for entrepreneurs to enter different markets in the region. We are confident that this digital toolkit will be an instrument in growing Africa’s entrepreneurial ecosystem,” Kyongo said.

“It is a user-friendly guide that consolidates all the requirements required to enter the three markets highlighted above and eases the market entry process.

“This study and the digital toolkit were developed following a growing challenge to market access by entrepreneurs not only in Kenya but also throughout the African continent.

“The existence of different regulatory requirements, certifications, tariffs, and other barriers mean that even if entrepreneurs are successful at selling products in one country, they would still need to get 55 different licenses to operate in the 55 other countries. In addition to the actual cost of licenses, there’s a lack of clarity on what entrepreneurs need to do to expand into other markets.

“The toolkit has been validated through a series of feedback sessions to support the refinement. It also provides a model to approach future work in other target countries across Africa and acts as a basis to create a vibrant startup ecosystem across the continent.

“It is critical in addressing social inclusion and equity issues—such as gender equality—affecting the different focus sectors and countries within the entrepreneurial space.”

Related Topics:Featured PriceWaterCoopers Tech UK-Kenya Tech Hub

Click to comment

Tech

Kenya’s auto-tech startup BuuPass expands system to new operators

Published

10 hours ago

October 14, 2024

Isaac Dachen

Kenyan auto-tech startup, BuuPass, has announced the expansion of its Bus Management System (BMS) to new operators in a bid to further enhance transparency and operational efficiency for bus companies in the country.

Founded in 2016 by the duo of Sonia Kabra and Wyclife Omondi, BuuPass has grown from a B2B2C mobility marketplace to become a leader in digital ticketing and transportation management solutions that enables users to search, compare, and book travel tickets via web, app, or USSD, while its SaaS platform helps bus operators manage their operations, inventory, and sales.

“What we are witnessing is nothing short of a digital renaissance in bus operations. Our Bus Management Service isn’t just a tool—it’s the future of this industry,” said Kabra, who doubles as the CEO of the company.

“So far, BuuPass has sold over 16 million travel tickets and generated over US$100 million in total value of goods sold, while it has also taken part in the Google for Startups Accelerator Africa and been backed by the Google for Startups Black Founders Fund. It also acquired counterpart QuickPass earlier this year.

“The BuuPass BMS is designed to address the most pressing challenges faced by bus operators. At its core, the system enhances transparency and control by providing real-time visibility into all aspects of operations, from ticket sales to route performance.

“Among the newly enrolled operators are Abuya, Abandu, Shoreline, and Bin Ibrahim, serving crucial routes such as Nairobi-Garissa, Nairobi-Moyale, Nairobi-Busia, Mombasa-Busia, and Mombasa-Kitui.

“To ensure smooth integration, BuuPass provides these operators with scanning devices, computers, and digital printers, along with comprehensive training for their staff on system usage,” she said.

Tech

Tanzanian fintech Nala secures $40m funding to boost expansion

Published

1 day ago

October 13, 2024

Isaac Dachen

Tanzanian payments platform, Nala, has announced securing $40 million in Series A funding from several global investment firms such as San Francisco-based VC firm, Acrew Capital, DST Global and Amplo, as well as other angel investors, which it says will be used for its global expansion and to strengthen its payment systems across Africa.

The startup which has its headquarters in Kenya, is a fintech that enables seamless money transfers from the UK, US, and the EU to Kenya, Uganda, Tanzania, Rwanda, and Ghana.

Nala’s founder and CEO, Benjamin Fernandes, who announced the new funding in a statement, said it is coming on the heels of a $10 million seed round in 2022 and will further improve the reliability of its African payment systems by establishing its own payment infrastructure.

Fernandes highlighted how the new capital would fast-track the company’s global expansion efforts, focusing on its Nala Money App and its business-to-business (B2B) payment platform, Rafiki API.

“This funding allows us to go beyond remittances and scale beyond Africa, building a comprehensive payments ecosystem. We’re reinvesting to enhance our infrastructure, ensuring affordable, reliable payments for everyone,” Fernandes said.

“With our own payment rails and the growth of our B2B platform Rafiki, we’re not just talking about change – we’re building it. We have bold, ambitious plans, so stay tuned for the next couple of years.

“For the first time, we are profitable and cash flow positive. Our transaction volume has surged 34 times over the last 20 months,” he added.

He noted that the company has expanded from a seven-member team to nearly 100 employees, and is serving nearly 500,000 customers globally.