Tech

Zambian neobank fintech Lupiya set to launch new debit card

Published

1 day ago

September 18, 2024

Zambian neobank fintech, Lupiya, has entered into a partnership with leading enabler of digital commerce across Africa and the Middle East, Network International, to launch a new debit card.

The fintech which is active in Zambia and Tanzania and has plans to expand into other African countries is an AI-driven neobank driving financial inclusion through its online lending and digital payments platform.

Muchu Kaingu, CEO of Lupiya Pay, who made the announcement in a statement, said the new debit card was e-commerce enabled, together with 3D Secure and tokenisation.

“This will help diversify Lupiya’s value proposition to include not only simplified lending, but also digital payments to its existing and growing new customer base,” he said.

“At Lupiya, we are driven by the mission to revolutionise financial inclusion across Africa. Our partnership with Network International represents a significant leap forward in providing secure, accessible, and innovative digital financial solutions.

“By launching an e-commerce enabled debit card with 3D Secure and tokenisation, we are empowering individuals and businesses to participate in the digital economy more effectively.

“This collaboration is a testament to our commitment to delivering cutting-edge technology that enhances convenience and security for our customers, while driving economic growth and financial independence across the continent,” Kaingu stated.

He added that the platform leverages alternative data and machine learning models to assess creditworthiness, enabling individuals and businesses traditionally excluded by banks to access both credit and secure payment services.

‘Lupiya offers a range of financial products, including personal loans, SME financing, and digital payments, and is now launching a debit card in partnership with Network, a digital payments company that serves governments, banks, public sector companies, fintechs, and merchants of all sizes. The company serves over 250 financial institutions and 130,000 merchants in more than 50 countries,” said Kaingu.

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Tech

Egypt’s climate action accelerator Athar graduates 5th cohort of green entrepreneurs

Published

5 hours ago

September 19, 2024

Isaac Dachen

Egypt-based climate action accelerator, Athar, has marked the graduation of the fifth cohort of its ‘Climate Action Accelerator Programme’ for green entrepreneurs.

The accelerator programme, which was in conjunction with DFC, a startup that aims to develop solar-powered mobile charging stations for electric vehicles, saw the graduands going home with prices up to EGP150,000 ($3,000), and was funded by the Embassy of Finland in Cairo and Hivos, and in partnership with Creativa Innovation Hubs in Upper Egypt.

Shoaib Elqady, the CEO of Athar Accelerator who spoke at the graduation ceremony, said:

“These founders are not only creating solutions to some of our most pressing environmental challenges but are also laying the groundwork for sustainable economic development in Egypt and the wider region. Their success is a testament to the growing importance of climate action in the startup ecosystem.

“We’ve seen a diversity of startups, ranging from those with high growth potential to small and medium enterprises. It is essential to continue supporting these businesses while recognising their differences as they reach their next milestones.

“Not all startups are suitable for venture capital funding, but we need to introduce new funding models that can cater to their unique needs, ensuring they thrive long-term,” he said.

The fifth edition of the programme ended with a demo day held in Minya, Upper Egypt, where 10 startups from Upper Egypt presented their solutions, addressing vital sectors such as eco-friendly biopesticides, renewable energy, organic fertilisers and sustainable furniture.

The winning startup was DFC, which is developing solar-powered mobile charging stations for electric vehicles, and took home the grand price of $3,000.

Other well-performing participants included Fertical, which is utilising beneficial microbes to produce eco-friendly biopesticides and biofertilisers, and Vermi Valley, which is turning livestock and plant waste into nutrient-rich compost.

In addition to the startup pitches, the event also featured the launch of the “Green Manifesto”, a declaration of principles and dedication to supporting overlooked founders in green sectors across Upper Egypt and other underserved regions.

“The manifesto emphasises the need to empower local entrepreneurs, recognise the diversity of startups, and build sustainable communities that foster long-term growth and innovation,” the Athar CEO said.

Tech

Five African female entrepreneurs make Visa’s She’s Next Programme final list

Published

2 days ago

September 17, 2024

Isaac Dachen

Five female African entrepreneurs have been pencilled down as finalists for the 2024 edition of the “Visa’s She’s Next Programme”, an initiative dedicated to empowering women entrepreneurs across the continent.

Lineshree Moodley, Country Manager at Visa South Africa, said the She’s Next Programme, which is in partnership with Absa, is aimed at providing women-owned small and medium-sized enterprises (SMEs) with the resources, tools, and mentorship needed to thrive in today’s dynamic business environment.

“The programme aims to support women-owned small businesses through funding, training, and mentorship,” Moodley said in a statement.

She stated that the five finalists who will compete for the grand prize of over $56,000 worth of prize money are InoBiodiesel, Moli & Mela, Diamond Days, eFama App, and HVAC Partners.

“We are delighted to announce the finalists for this year’s She’s Next Programme. These remarkable women exemplify the spirit of entrepreneurship and innovation that is vital for Africa’s economic future.

“At Visa, we are committed to supporting women-owned businesses by providing them with the tools and opportunities they need to succeed. Our partnership with Absa has been instrumental in expanding the reach and impact of this programme, and we are excited to see the incredible journeys of our finalists unfold. The winner of the 2024 She’s Next programme will be announced on September 19.

“In addition to the top five, another 25 SMEs will participate in an exclusively tailored capacity building and mentorship programme in partnership with Absa to further support and empower women entrepreneurs to take their businesses to the next level,” she added.