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Mastercard Foundation expands EdTech Fellowship to Egypt

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The Mastercard Foundation has extended its EdTech Fellowship Egypt following earlier programmes in South Africa, Kenya and Nigeria.

The EdTech Fellowship, which was launched in 2019, is an entrepreneurship acceleration programme that supports promising African ed-tech ventures.

According to the tech giant, the Fellowship provides critical business, financial, and educational support to help ed-tech companies scale, achieve sustainability, and increase impact.

“The fellowship has already supported dozens of companies in countries like Nigeria, South Africa, and Kenya, and has now expanded to Egypt in partnership with EdVentures, the investment arm of Nahdet Misr Group and a leading ed-tech venture capital firm in the MENA region,” Mastercard said while announcing the launch.

“Twelve startups have been chosen for the initial eight-month programme, comprising specialised training, mentorship, workshops, networking, and access to courses.

“Each startup will receive $60,000 in equity-free funding. Over the next three years, the fellowship will support a total of 36 ed-tech startups, driving positive change in the education sector,” it said.

The inaugural Mastercard Foundation EdTech Fellowship cohort are 5 Quarters, a dental student learning application; Armstrong, an interactive STEM e-learning platform; Business بالعربي, an Arabic self-development and business skills podcast.

Others are Career 180, a career development and job placement solutions for youth; Deaf Gain, consulting services for the deaf and hard of hearing; and Fednee, a platform for networking, career development, mentoring, and collaboration.

The cohort is completed by iSchool, which is teaching AI and coding for kids ages 6-17; Mharet Tefl: a speech therapy programme for children; Nafham by Tayro, an online learning application; OTO Courses, an online one-on-one English and other courses; Science Street, which promotes science literacy; and Bayt Alkhyata, which fosters social development for women and their communities.

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Starlink launches high-speed Internet services in Burundi

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Elon Musk’s Starlink has announced launching its high-speed internet services in Burundi after the president granted the company an official licence to operate within the country.

The licence was awarded to the satellite-based internet provider under the oversight of the Telecommunications Regulation and Control Agency (ARCT) of Burundi, with its Director-General responsible for implementing the decree.

A statement by the ARCT said the development marked a significant step toward improving internet connectivity, following the issuance of an operating licence in May 2024, granted through a presidential decree.

“This development marks a significant step forward in improving internet access for the people of Burundi,” the ARCT said.

Burundi, one of the world’s poorest countries, currently has one of the lowest rates of internet usage globally, largely due to high costs and limited infrastructure.

With the launch of the high-speed internet services, Burundi becomes the latest of 14 African nations to adopt Starlink’s Low Earth Orbit (LEO) satellite constellation, aiming to enhance satellite internet services across the country. The company is set to expand its operations to several additional countries by the end of 2024.

Starlink is now available in 15 African nations, following its recent launch in Zimbabwe. Other African countries that have gained access to Starlink include Kenya, Nigeria, South Sudan, Rwanda, and Zambia.

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Africa-centric startup M-KOPA celebrates surpassing 5 million customers

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Africa-centric asset financing platform, M-KOPA, has announced surpassing five million customers across Kenya, Uganda, Nigeria, Ghana and South Africa with two million of these customers coming on board in the past 15 months.

M-KOPA co-founder and CEO, Jesse Moore, who made the announcement, said the platform’s model has made affordable smartphones embedded with financial services available to ‘Every Day Earners’, the wide majority of African adults who earn their income daily but struggle to afford smartphones and typically fail to qualify for conventional financial services.

“We are thrilled to welcome our 5 millionth customer to M-KOPA this month. The scale of our operations and our positive impact on customers is what keeps us working hard to go even further. We’re just getting started; the opportunity for much larger impact and scale is right in front of us,” Moore said.

“To date, M-KOPA has supported its customer base with more than US $1.5 billion in financing. Starting with smartphone access, customers gain entry to the digital economy with an affordable daily repayment model, which fits their daily income and cash flow and makes it easier to manage.

“By leveraging rich payments data and proprietary AI-driven analytics, M-KOPA builds a credit record for each customer which forms the foundation for a long-term financial relationship for lower cost digital loans, affordable data subscriptions and medical insurance.”

Also speaking on the milestone,
M-KOPA’s Chief Product Officer Nena Sanderson, said:

“Our product and services build pathways to prosperity for our customers and agents, enabling them to overcome financial setbacks, generate income and progress towards the futures they aspire to.

“Our impact extends beyond our customers, reaching their families and communities, and contributing to building a more sustainable world.”

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