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Nigerian agro-tech startup, ThriveAgric, wins Visa Everywhere Initiative

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Nigerian agro-tech startup, ThriveAgric, was on Friday, crowned winner of the Visa Everywhere Initiative (VEI), a global open innovation program and competition for startups and fintech companies, carting home the $100,000 prize at stake.

The startup which champions technology to transform the payments landscape for smallholder farmers, won the handsome prize at the global finale of the VEI held in Qatar amidst the FIFA World Cup 2022.

The final was preceded by a year-long competition that saw more than 4,000 fintech entrepreneurs across the world compete in regional editions before advancing to the final stage.

According to Andrew Torre, the Regional President for Central Europe, Middle East and Africa (CEMEA) of VEI, the applicants entered the competition with “innovative payment and commerce solutions to solve the payment challenges of tomorrow.”

“A new fintech generation is transforming the way consumers and businesses make payments, making it easier for more people to access and move money when they need it ” Torre said.

“We congratulate ThriveAgric and all the winners in this year’s competition, and we look forward to continue partnering with fintechs to solve the payments challenges of tomorrow,” he added while making the presentation to the winners.

Co-founder of ThriveAgric, Ayo Arikawe, in his response, said:

“The hard work we’ve put into ThriveAgric will ensure that technology is leveraged to empower farmers across the country.

“To not only win the CEMEA regional VEI competition but also pitch at the final here in Qatar gives me great confidence in our ability to scale our solutions and continue to enrich farmers’ lives.”

Apart from ThriveAgric, other winners in the competition include Zeti, a fintech enabling pay per use financing of sustainable transport, which took second place while Huli, a platform that connects patients, doctors and other healthcare services, won the audience favourite award.

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DR Congo sues tech giant Apple over illegal mineral exploitation

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The Democratic Republic of Congo (DRC), has filed a criminal case against the European subsidiaries of tech giant, Apple, accusing them of illegal mineral exploitation and allegedly using “blood minerals” in its supply chain.

In the suit filed on Tuesday, the DRC alleges that Apple has bought contraband supplies from the country’s conflict-ladden east and Rwanda, zones in which it allege the materials are mined illegally and then integrated into global supply chains before ending up in tech devices.

The DRC suit specifically mentioned Apple subsidiaries in France and Belgium, accusing the tech giant of using conflict minerals in its supply chain.

The DRC is a major source of tin, tantalum, and tungsten which are used in electronic devices, with some mines controlled by armed groups responsible for human rights violations.

International lawyers representing the African country’s government have accused Apple’s local subsidiaries of taking these minerals from conflict areas and laundering them through international supply chains, with one lawyer telling journalists that Belgium had a moral duty to act given its history of exploiting the country’s resources under colonial rule.

However, in its response, Apple claims it conducts supplier audits and does not directly source primary minerals.

https://www.thenews.com.pk/print/1262670-dr-congo-sues-apple-over-alleged-illegal-mineral-exploitation

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Moroccan retail-tech startup Z raises $1.5m to drive intense growth

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Morocco-based B2B retail-tech marketplace, ZSystems, has announced closing a $1.5 million seed funding round which will see it carry out its ambitious expansion dreams.

In a statement by co-founder and CEO, Meriem Benabad, the funding round was led by Morocco-based Venture Capital firms, MNF Ventures (through its MNF II fund), Witamax (through Fund II and III), Cash Plus Ventures, and Kalys Ventures.

“This funding marks a pivotal moment for Z, as we aim to scale operations and bring cutting-edge solutions to traditional retail.

“Our vision is to empower small businesses and unlock growth across Morocco and Africa,” Benabad said.

According to Benabad, the newly acquired capital will support Z’s technology development, product catalogue expansion, and preparation for its next growth phase.

“Z is reshaping the retail landscape by integrating technology and innovation across the value chain. Its scalable platform empowers traditional retailers and brands with direct access to consumers, reviving competitiveness in traditional trade (hanouts), which accounts for 85% of the FMCG market,” he added.

Founded in 2022 by the trio of Benabad, Samer Choumar and Youssef Ait-Haddouch, Z’s platform empowers traditional retailers and brands with direct access to consumers, reviving competitiveness in traditional trade (hanouts), which accounts for 85% of the FMCG market.

Since launch, the startup has helped over 15,000 active retailers, and seen more than 800,000 orders placed.

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