Tech

Egyptian peer-to-peer fintech startup, Kiwe, raises funding from valU

Published

2 years ago

October 26, 2022

Egyptian peer-to-peer fintech startup Kiwe, has successfully secured funding from valU, a subsidiary of EFG Hermes Holding, a ‘buy now, pay later’ (BNPL) service with a huge presence in Egypt and Saudi Arabia.

Kiwe, a social payment app targeting the unbanked segment of the society, was founded in March 2021 by Fatma Khalifa, Omar Kamel and Mohamed Khalifa, allows its users to transfer money to each other in real-time.

According to Disrupt Africa, valU, a fintech company founded in 2017 has EFG Hermes Finance, EFG EV Fintech, dfin Holding, and Marakez among its shareholders.

In a statement by Kamel on Wednesday, “Kiwe’s solutions allows users to easily collect, send, and spend money electronically, while also providing small businesses and startups with a digital, simple, and cost-efficient payment platform.

“For us at Kiwe, valU’s investment is proof positive that we’re forging ahead in the right direction and signals confidence in our brand that offers unique services that are in high demand.

“Having a leading fintech player such as valU onboard acts as a pivotal step forward in our expansion strategy by allowing us to benefit greatly from their success and giving us access to their vast network of vendors,” Kamel said.

The head of Strategy and Market Rxpansion at valU, Habiba Naguib, said the “strategic investment” in Kiwe came as a natural step to further bolster his firm’s portfolio of financial services by extending more innovative solutions to MSMEs and young people.

“Serving these segments allows us to reach a larger population, ensure that we are alleviating financial hassles, drive financial inclusion, and contribute to greater convenience for millions of customers,” he said.

Related Topics:Featured fintech Kiwe Peer-to-Peer Startup valU

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Tech

RepAir, Cella partner to launch carbon capture in Kenya

Published

2 days ago

April 27, 2024

Akanimoh Etim

Global Direct Air Capture (DAC) firm, RepAir, has entered into a partnership with carbon storage technology company, Cella, to launch a first-of-its-kind innovative Carbon Capture and Storage venture in Kenya.

In a statement on its website on Friday, RepAir said the venture will see a replication of its “cultivating partnerships” with storage firms in Europe, U.S. and Africa.

“This storage agreement will streamline the sale of high-quality carbon credits to off-takers, enabling corporations to meet evolving ESG standards, manage offsets and advance towards net zero goals,” the statement issued by RePAir CEO, Amir Amir Shiner, stated.

“Our solution sets a new standard, requiring only 600 kWh per ton of CO2 captured, marking the lowest energy consumption on the market.

“This agreement is perfectly aligned with the launch of our commercial demonstrator in 2025, empowering RepAir to offer high-quality carbon credits to our customers.

“It will see to the establishment of a storage partnership with Cella aimed at creating dedicated value chains for extracting CO2 from the atmosphere and permanently storing it underground through in-situ mineralization.

Corey Pattison, CEO, Cella, who also issued a statement on the partnership, said “by partnering with Cella at our first demonstration site, RepAir can capitalize on two critical resources: the potential for truly permanent, highly verifiable carbon storage via mineralization combined with Kenya’s abundant renewable energy sources.

“Together these resources provide a comprehensive solution for capturing and storing CO2 for off-takers. This collaboration represents an extraordinary opportunity to nurture mutual growth.”

Tech

Intel Liftoff Hackathon 2024 calls for applications from African AI startups

Published

3 days ago

April 26, 2024

Akanimoh Etim

Applications for the 2024 cohort of Intel Liftoff Hackathon has opened for African AI startups designed to bring together aspiring tech entrepreneurs, software developers, and AI enthusiasts to collaborate, innovate, and create solutions to concrete African challenges.

In its second edition, the hackathon welcomes pioneering early-stage AI startup teams from the African continent, delving into experiments with LLM technology, a statement on the website of the organiser stated.

It added that the Intel Liftoff Hackathon for African AI Startups, which will be held online on May 27-31, is themed “Hack and Connect”, and will take place in partnership with Modus Africa, University Mohamed VI Polytechnic, Morocco

Other partners include TUT Hub of Artificial Intelligence Institute of South Africa, Prosper Africa, UM6P Ventures, FAST Accelerator, Innov8 Technology Hubs, and Open Startups International.

“The hackathon will feature hands-on workshops that will allow learning of AI essentials; three days of challenges with mentors to test skills; exhibition opportunities to showcase startups and forge partnerships with industry leaders; and networking opportunities to engage with fellow startups and gain insights from domain experts in the AI ecosystem,” the statement said.

“Winners will be invited to join the Intel Liftoff for Startups programme, and receive unique mentoring sessions with ecosystem partners and marketing opportunities with blog articles,” it concluded.