Happy weekend! As usual, we are back to give you the latest in African and World Technology. Are you ready? Let’s go.
12 Finalists to Pitch at 2019 Seedstars World Prize
We start with big news; Three African startups are listed among the 12 startups that will compete for the title of 2019 Seedstars Global Winner, with up to $500,000 for grabs in equity funding. They are Ghanaian agritech Cowtribe, Kenyan fintech Bluewave and Rwandan fintech Benefactors.
Volkswagen Rwanda Introduces Electric Cars in Ride Hailing App
We follow up with the news that, Volkswagen, one of the world’s biggest automotive companies, is testing the future of its global ride-hailing business in Rwanda as part of its expansion strategy in Africa. The ride-hailing application, “Move Rwanda” is a milestone project that would provide better mobility.
Nigerian Boys Win Bronze at International Festival of Engineering, Science and Technology
Four boys represented Nigeria in the International Festival of Engineering, Science and Technology in Tunisia and won Bronze Medals. They developed the ‘Adaptable Alternative Power Supply’, an electric inverter with a solar panel that absorbs energy from the sun, stores the energy and distributes it to households and offices.
Mastercard, Jumia Partners to Expand e-Commerce In Africa
On investments,Mastercard has invested in Jumia to form a strategic partnership that will grow e-commerce operations and support digital transformation in Africa. The company aims to bring its deep knowledge and expertise in payment solutions to spark innovation and spur development.
AfDB Approves €12.5 million Investment, Targeting SMEs in Francophone West Africa
Also, the Board of the AFDB has approved a €12.5 million equity investment in Adiwale Fund 1, a first-generation private equity fund targeted at high growth potential Small and Medium Sized Enterprises (SMEs) in Francophone West Africa.
Frogfoot Launches Free Fibre in South African Schools
A South Africa-based Fiber company Frogfoot launched a free fiber-to-the-home (FTTH) coverage to schools with up to 1 GBPS. The launch is to bridge the digital divide and provide learners with access to information they would not ordinarily have.
Xente, Ugandan E-commerce Startup Expands to Nigeria
On expansion, Ugandan e-commerce startup Xente, which allows customers from all over the world buy products from merchants and pay in installments has expanded its services to Nigeria; its first market outside of Uganda.
Nigerian Medtech, MDaaS Global Secures $1m Equity Funding
Earlier in the week, Lagos-based medtech startup ‘MDaaS Global’ secured over $1 million equity funding. The startup listed on the US Securities and Exchange Commission and the total offering was $1,580,062 while the amount sold was $1,055,496 with about $524,566 left to be sold. Up to 12 investors were involved in the round.
Farmcrowdy Group Launches Farmgate Africa to Bridge Market Access Challenges
On innovation, the FarmCrowdy Group (FCG) officially launched FarmGate Africa. The technology focuses on providing major processors and international buyers the opportunity to purchase commodities directly from farming clusters through technology while optimizing market access to African farmers.
Nedbank Launches API Marketplace for Fintechs
Finally, Nedbank launched the Nedbank API Marketplace for technical partners to create innovative solutions for clients. They will be the first African bank to launch an API_Marketplace platform. Nedbank will launch the platform in two upcoming events in Johannesburg on the 8th of April and Cape Town on the 9th of April 2019. Interested? Register here.
There you have it for the Africa Tech News Round up. Do check our website www.techgistafrica.com for our interview session with the UP Nepa brothers and other specials.
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Have a great weekend!
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