Tech

Mastercard partners Ethiopian oil corporation to digitize e-commerce platform

Published

12 months ago

May 7, 2023

Global payment network processor, Mastercard, has entered a partnership with Ethiopian Minerals Petroleum and Biofuel Corporation (EMBPC), aimed at solidifying the digitizing of the corporation’s mineral e-commerce platform.

The partnership, according to Mastercard’s President of Eastern Europe, Middle East, and Africa, Dimitrios Dosis, was part of the EMPBC’s strategic objectives to provide access to market and officially tunnel the available minerals to the international market.

While announcing the deal, Dosis said through Mastercard’s innovative Payment Gateway Solutions (MPGS), EMBPC could diversify and expand its offering.

“The partnership between Mastercard and EMPBC is the first implementation of an e-commerce platform solely focused on minerals in Ethiopia,” he said.

“This is proof of our ongoing commitment to collaborate with governments, providing world-class digital solutions to partners’ in-market, and scaling up our relationship with financial institutions,” Dosis said.

The CEO of EMPBC, Rahel Getachew, who also confirmed the development, said it would provide EMPBC with the solutions required to digitize their e-commerce platform, as well as collaborate on product development and standardization, promotion and marketing, training and capacity development, and technical advisory support.

“Despite various factors such as traditional methods of mining, Ethiopia’s present gemstone trade generates an estimated 20 million dollars in annual export transactions.

“With the digitization of EMPBC’s minerals marketplace, the gemstone sector is expected to triple in less than two years and grow to $500M in five years through the new e-commerce platform,” said Getachew.

“In addition to the above, partnerships of this nature create vast opportunities for fintech to participate in in-country e-commerce platform development, of which Eaglelion is the e-commerce platform developer for EMPBC,” he added.

Related Topics:Ethiopia Featured MasterCard Partnership Payments Solutions

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Tech

RepAir, Cella partner to launch carbon capture in Kenya

Published

1 day 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

2 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.