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Five Zambian female-led tech startups to receive $10,000 seed funding

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The Standard Chartered Bank of Zambia has earmarked the sum of $10,000 as seed funding for five finalists in its third cohort of “Women in Tech” challenge.

According to the Chief Executive Officer of the bank, Sonny Zulu, the aim of the seed fund is to enable the beneficiaries boost their businesses using technology as the driving instrument.

Zambia Monitor reports that the three-month programme which started two weeks ago is being implemented in partnership with BongoHive, the country’s first technology and innovation hub made up of programmers aiming to address the gaps within the local technology industry.

Zulu said the programme has, since the first cohort, transformed women businesses using technology.

“The second cohort went up to another level and now we are doing the third cohort and by the time we are finishing that particular programme, we are seeing a huge difference in the start and the end,” the CEO said at the launch of the third cohort in Lusaka.

“There are some that were completely doing things manually but by digitising, they are now growing their businesses three times and they will continue to grow.”

He added that the bank had “noted that there were a number of sectors that women were not participating in and especially when it came to technology,” and decided to intervene to bring them into the tech space.

“It was for this reason that the bank is thriving to lift the participation of women in technology using the programme”.

“We are also seeing that a number of Small and Medium Enterprises (SMEs) as well need a lot of support so that they can be able to participate in the mainstream of doing business so for us this is what we are doing across.

“So, for us, it is not only about giving money in terms of financing, it is also about helping to support and coaching them. At the end of the of the programme, the top five, we are giving them each a $10,000 as seed money,” he concluded.

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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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