Happy weekend guys!
Welcome to the Big 5 Daily, where we bring you innovative information made in Africa!
Are you ready?
Drum roll!!! Ghana has launched ‘Gh-Dual’ the first double purpose EMV and financial inclusion payment card. The gh-dual card will deepen financial inclusion, allow its users to move funds seamlessly across various payment platforms like; mobile wallets, e-zwich wallets and bank accounts. The Ghanaian government also intends to leverage the gh-dual card to cut-off ghost workers on its payroll and also encourage accountability and transparency in their public sector. Applaudable!
Call it an innovation filled month and we will concur! GrowthLab is collaborating with Seedstars to launch a new hub ‘Seedspace Growthlab’ in Lagos, Nigeria. The new hub will be situated at Circle Mall, Lekki, Lagos State and it will officially commence service to the public on the 20th of September 2019. The hub aims to create an inclusive and unified space where startups can collaborate learn and grow together. Can you beat that?
Also, SOLA Group — a South African solar project developer, has inked a $26 million deal. They will leverage the funds to build 40MW commercial and industrial solar P.V. facilities across South Africa. They will also utilize the fund to facilitate the projects without help from electricity off-takers. Interesting, right?
Lidya, a credit facilitator startup that is based in Nigeria creates access to credit facility for SMEs in the country, within 48 hours. They leverage technology and credit-scoring smart algorithms to ascertain applicants before a facility is rolled out. Lidya focuses on SMEs, to support them with funds that can help them scale their business. Full details are on the blog!
Finally, The Kenya Revenue Authority (KRA) is set to tax income-generating online applications (apps) in Kenya, in a bid to get a tax cut from online businesses. The 16% tax will focus on the app’s downloads and its resultant revenue. They will collaborate with the Communications Authority of Kenya (CA), to retrieve transactions data of all local and foreign-based app developers that are operating in Kenya. What do you think about this? Do share your thoughts!
That’s it for today’s edition of the Big 5 Daily!
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