Held at the Cape Town International Convention Centre, the summit was organized by TotalEnergies in partnership with AWS Startups, Technology Innovation Agency, GIZ SAIS, ESquared Investments, Wesgro, and The City of Cape Town.

Alderman James Voss, Mayoral Committee Member for Economic Growth in the City of Cape Town expressed his delight at being present at the event, describing Cape Town as South Africa’s leading tech ecosystem and he highlighted the importance of ensuring innovation and investment opportunities meet through catalytic partnerships that promote unique African designed solutions geared at solving world problems.

During his welcome address, Viarnaud acknowledged that the last two years have been tough for both founders and investors navigating the funding winter while they focus on solving complex problems. He reminded investors, startup founders, and ecosystem builders in the room that a downturn in the economy is a good time to invest, especially when it comes to investing in the African tech asset class. He said;

Now is the time to invest, Africa is not waiting for the future, we are shaping it.

Viarnaud reflected on the early days of AfricArena in 2017 when only about USD$300 million (approx. UGX1.097 trillion) in funding was flowing into the African continent; he highlighted the remarkable growth, noting that venture capital funding has now surpassed $2 billion this year.

His message to founders, investors, ecosystem organizations and government is that we must, “Believe we will prevail as an African tech ecosystem for if we believe we can build better, aim higher, think big and don’t go home, the investors will follow us because if we are long on this asset class, this asset class will ultimately lead.”

Over 100 startups from 31 African countries, including the TotalEnergies Startupper Challenge winners attended the summit and 45 were selected to pitch their ventures. Nine (9) out of the 45 startups emerged as winners among Africa’s best tech startups in their respective categories —and each won USD$25,000 (approx. UGX91.5 million) in AWS Activate credits.

The AfricArena Grand Summit winners were:

1. Best AI and Deep Tech Startup Award: OkHi (Nigeria).
2. Best Agri Tech Startup Award: Djoli (Ivory Coast).
3. Best Fintech Startup Award: Joro Cash (Morocco).
4. Best Climate Tech Startup Award: Gjenge Makers (Kenya).
5. Best SaaS Startup Award: Cynoia (Tunisia).
6. Best Seed Startup Award: Letsoela Agro-Aviation (Lesotho).
7. Best Startupper Award: Anda (Angola).
8. Most Value Add Investor Award: Knife Capital.
9. Most Promising Entrepreneur: Gael Egbidi (Togo).

Roger Norton, Chief Product Officer at OkHi was thrilled his startup won the Best AI and Deep Tech Startup Award in Africa. “We do address verification in an unsexy, regulated environment, and winning the top AI startup award is great validation that you can apply cutting-edge technology in typically slow-moving sectors.” He added, “Particularly to help accelerate digital transformation and enable economic agency for even the most disadvantaged communities.”

Solimi co-founder and CEO Gael Egbid was overwhelmed with her win. “I feel very proud and happy—this is huge for me, my country, and my company,” she said. “Being recognized as the Most Promising Entrepreneur means a lot because it highlights the innovation coming from Togo here in South Africa, where we have so many amazing startups. I want to thank AfricArena, my country, and my company for this incredible honor.”

Stunned at winning the best investor pitch, Ayanda Bolani, an Investor Associate at Knife Capital accepted the Most Value Add Investor Award on behalf of Knife Capital. “This is a very beautiful moment of recognition,” said Bolani.

Keet van Zyl, co-founder, and partner at Knife Capital, shared the significance of winning the Most Value Add Investor Award, highlighting Knife Capital’s commitment to supporting their portfolio companies beyond just providing capital. He emphasized that focusing on not only funding but also providing companies with networks helps to add strategic value and validates Knife Capital’s approach to attract quality companies seeking investors who contribute more than just funding.

Van Zyl also noted the pride in having team members represent the firm, reflecting its growth and evolution.

Knife Capital continues to play a key role in Africa’s tech and investment landscape, including the USD$50 million (approx. UGX182.87 billion) African Series B expansion fund, Knife Fund III, aimed at bridging funding gaps for scalable South African B2B tech companies.

Recognitions like this award reinforce Knife Capital’s leadership in supporting innovation-driven businesses across the continent.

AfricArena has established itself as a leading platform dedicated to creating market access and fostering investment opportunities for a growing community of tech founders, angel investors, corporate innovators, and venture capitalists. Designed with a digital-first mindset, AfricArena operates through a series of high-impact investment deal flow events, tailored interventions, and an open-source platform that champions the principles of open innovation and entrepreneurship.

In just eight years since its launch, they have earned significant credibility within the global tech startup ecosystem, with alumni startups collectively raising over USD$850 million (approx. UGX3.108 trillion) in funding.

The post Nine Startups Among Africa’s Best Recognized at AfricArena Grand Summit appeared first on PC Tech Magazine.

With one in two people lacking access to essential healthcare, leveraging innovation and developing new models for scaling access to healthcare is critical. Health entrepreneurship, particularly women-led models, is fundamental to addressing this gap. WiNFUND is on a mission to transform healthcare access to the most vulnerable by leveraging the power of female entrepreneurship. It advocates for equitable access to financing and invests in the power of women-led startups addressing global health challenges.

WiNFUND is more than just a financial partner; it’s a movement to amplify women’s voices in healthcare innovation. By supporting female-led initiatives, they seek to drive meaningful change in the health sector while promoting gender equity in entrepreneurship.

The non-profit initiative is searching for ambitious and innovative women entrepreneurs whose solutions are already making a difference in healthcare across Africa. Here are the key criteria:

• Ventures must be women-led, emphasizing the power of women in shaping the future of healthcare.
• Solutions should directly address access to healthcare in Africa, tackling pressing challenges such as affordability, availability, or quality of services.
• Applicants should be operating ventures at the revenue stage, ready to scale, and able to demonstrate their investability.
• WiNFUND values innovative and sustainable business models that ensure long-term success while delivering measurable social and economic benefits.

Selected entrepreneurs will receive up to USD$250,000 (approx. UGX925.5 million) in funding. This significant financial boost is designed to help ventures scale their solutions, reach more communities, and achieve greater impact.

The prize goes beyond financial gain —as WiNFUND opens doors to an expansive network of industry partners, investors, and other entrepreneurs. This ecosystem is vital for building collaborations, securing additional resources, and navigating the challenges of scaling a business. In addition, WiNFUND provides bespoke support to help businesses thrive. From strategic guidance to operational advice, entrepreneurs gain access to the tools and expertise needed for sustainable growth.

WiNFUND’s initiative has already demonstrated the transformative potential of supporting women entrepreneurs. Previous funding cycles have enabled startups to expand their reach to underserved communities, innovate & scale solutions that improve maternal health, chronic disease management, and health education, and build sustainable models that attract additional funding and partnerships.

Women play a critical role in Africa’s healthcare ecosystem, often as caregivers, nurses, and community health workers. However, their contributions as innovators and entrepreneurs remain underrepresented. Supporting women in leadership positions ensures diverse perspectives in problem-solving, leading to more inclusive and effective healthcare solutions.

The WiNFUND initiative is a remarkable example of how technology and innovation can drive social impact, especially in the healthcare sector, which is critical for the growth and development of any nation. By supporting women-led health startups, WiNFUND is empowering women entrepreneurs to solve complex healthcare challenges, create jobs, and make a positive difference in their communities —in other words, it’s fostering systemic change that benefits entire communities.

WiNFUND is partly financed through the sale of WiNFUND non-fundable tokens (NFTs) designed by Rwandan artist Christella Bijou. The collection has been supported and made available in close collaboration with Tokenproof.

The deadline to apply for the fund is December 13, 2024, at 3pm CEST (5pm EAT). APPLY HERE (LINK)

The post Women-led Health Innovations Across Africa Invited to Apply For WiNFUND appeared first on PC Tech Magazine.

The developers at Celadonsoft do more than just coding: they leverage the non-blocking, event-driven framework of Node JS to amp server performance, enabling your app to handle thousands of active connections without breaking a sweat. Their customized approach ensures that startups are provided with solutions tailored toward their exact goals and constraints, including factors such as budget and timeline, which is very important because 29% of startups fail due to issues surrounding finances.

With a proven track record of increasing application speed by 30%, but with strong security through robust encryption protocols and regular security audits, Celadonsoft accelerates not only the development but also increases the reliability of your product. By working together with a dedicated Node JS specialist like Celadonsoft, startups can make the most out of limited resources and forge pathways for long-term success, as 82% of businesses working with specialized development firms report improved efficiency and growth.

Accelerated development and faster time-to-market

• Rapid Prototyping: Node.js is asynchronous, and its vast libraries assist in quick prototyping. Startups can test ideas and validate them in no time, hence reducing the time for prototyping by up to 50% as compared to traditional languages. This rapid iteration allows for early market validation and course correction before substantial investments are made.
• Smoothening Development: Node.js supports concurrent processing due to its single-threaded event-driven architecture. This cuts down development cycles, which means faster product launches and quicker ROI.
• Integration with CI/CD: Partnering with a Node.js development company experienced in CI/CD translates to seamless deployment processes. The startups enjoy frequent updates, bug fixes, or other features continuously, which allows them to adapt quickly to market changes.

Cost-effective solutions with scalable resources

• Savings on Overhead: Outsourcing to a Node.js development company can reduce fixed costs compared to maintaining a full-time in-house development team. One will not have to go through the hassle of recruiting, training employees, and continuous infrastructure maintenance.
• Scalability on Demand: Applications in Node.js are inherently scalable and designed for increasing user loads. If a developer can partner with a good Node.js development team, then his or her development resources can scale up in growth stages without expensive overhauls in architecture.
• Flexible Engagement Models: A number of Node.js development companies offer flexible engagement models that cater to the needs of a project and its budgetary constraints. This allows startups to pay only for those services that they require, optimizing resource utilization with minimum wastage.

Improving the quality of products with advanced tools and technology

• Access to the Best Tools: A Node.js development team uses top-of-the-line development platforms and utilities like Visual Studio Code and ESLint. These guarantee clean, well-structured code, minimizing bugs and enhancing application stability.
• Deep Testing Patterns: Modern testing frameworks like Mocha and Chai are used for deep unit and integration testing. These tools are crucial in finding potential issues early during the development cycle, avoiding post-launch roadblocks and costly bug fixes.
• Performance Monitoring in Real Time: Proactive application performance monitoring tools, such as New Relic and Loggly, are put into place to locate and troubleshoot issues before they affect user experience. This ensures the best performance of applications with minimum downtime for higher satisfaction and retention of the users.

Frictionless integration with existing systems

• Seamless System Integration: Node.js applications integrate well with a wide variety of existing systems, reducing disruption and streamlining data flow. A skilled Node.js team can manage integrations with outdated and modern infrastructures efficiently for your current tech stack.
• Improved Operational Efficiency: Seamless integration can improve operational efficiency by as much as 30%, according to industry reports. This enables a startup to efficiently use existing resources and unlock capital for key investments in growth areas.
• Access to Global Talent Pool: Partnering with a Node.js development company opens the door to a global talent pool. This exposes them to various skill sets and innovations, unlocking chances of innovation and adaptability in the ever-changing technology space.

Access to a global talent pool

By partnering with a Node JS development firm like Celadonsoft, startups can swiftly tap into a global talent pool, introducing diverse skills and fresh ideas essential for success in the fast-evolving tech industry. Celadonsoft accesses international markets by hiring developers from tech hubs in Eastern Europe and Southeast Asia, where tech graduates are increasing by 25% annually. This strategic method not only boosts the potential for innovative solutions but also guarantees cultural and contextual adaptability, crucial for entering global markets.

For example, Celadonsoft’s international team recently revamped a startup’s e-commerce platform for multilingual regions, resulting in a 40% increase in customer engagement within six months. This improvement was due to the platform’s ability to support 12 different languages, serving a diverse customer base across Europe and Asia. Accessing global talent ensures that startups remain adaptable, innovative, and competitive on the international stage.

Summary of strategic benefits for startup growth

Startup companies can get a wide range of services while partnering with a Node.js development company for their product development: accelerated development, cost-effective solutions, high product quality, and seamless integration. Therefore, a good Node.js team will enable startups to overcome initial problems, go to the market faster, and find a path to sustainable growth. By leveraging such a strategic partnership, startups can establish a strong market presence and compete effectively in the dynamic global marketplace.

The post Benefits of Partnering With a Node JS Development Company for Startups appeared first on PC Tech Magazine.

Five outstanding fintech startups—Fido, Kawu, PayTota, PesaJet, and Zimba Technologies—were nominated for the Fintech Startup of the Year award. Each nominee represents a beacon of innovation addressing diverse challenges in financial inclusion, accessibility, and digital efficiency. Their efforts underscore the role of technology in driving economic growth and empowering communities across the country.

Of the five nominees, only two emerged victorious in the prestigious Fintech Startup of the Year category. Kawu clinched the coveted Diamond award, earning the top spot with its groundbreaking contributions to financial services.

“This recognition underscores our commitment to revolutionizing financial inclusion for students in Uganda. By providing digital debit cards and innovative financial solutions, we empower students to manage their finances securely and efficiently,” Kawu wrote in a post on their LinkedIn page. “This award motivates us to continue our mission of enhancing financial literacy and inclusion among the youth.”

Meanwhile, PayTota was awarded the Gold, recognizing its exceptional advancements in the sector.

“We are incredibly honored to receive this award,” said Erasmus Okurut, CoFounder and CEO of PayTota “This accolade is a testament to the hard work and ingenuity of our talented team, as well as the trust and support of our customers. We remain dedicated to pushing the boundaries of what’s possible in the world of payments.”

The awards were presented by Hon. Joyce Nabbosa Ssebugwawo, Minister of State for ICT, who commended both winners for their transformative role in Africa’s digital economy.

In addition to the startup awards, the Fintech of the Year accolade was awarded to ClinicPesa, a platform making waves in healthcare financing. In a post on LinkedIn, ClinicPesa wrote, “Proud to be recognized as FinTech of the year with a diamond award at the Digital Impact Awards Africa 2024 by HiPipo. Huge thanks to our team for revolutionizing healthcare financing. The journey continues”

ClinicPesa provides a lifeline to individuals and families by enabling them to save and access affordable healthcare services. This innovation has bridged a crucial gap, ensuring healthcare inclusivity for underserved populations. Hon. Ssebugwawo also presented this award, lauding ClinicPesa for its invaluable contributions to the health and financial sectors.

The achievements celebrated at the 2024 Digital Impact Awards Africa are a testament to fintech’s power to solve real-world challenges.

Kawu has built a finance and payment solution for students. They have developed a smart card that students use to receive money from their parents for upkeep. PayTota on the other hand is an online payment gateway solution that allows individuals and businesses to make and accept payments from local and international buyers and sellers with payment facilitators such as Mobile Network Operators (MNOs) like MTN Mobile Money and Airtel Money, Banks, and Payment Cards Operators like Visa and Mastercard.

ClinicPesa’s recognition highlights the cross-sectoral potential of fintech. By integrating finance with healthcare, the platform exemplifies how technology can address critical gaps in essential services.

The HiPipo Digital Impact Awards Africa has become a cornerstone event for celebrating excellence in digital innovation. By recognizing startups like Kawu, PayTota, and ClinicPesa, the awards inspire entrepreneurs to push boundaries and drive meaningful change.

In closing remarks, Hon. Ssebugwawo reechoed the government’s commitment to achieving last-mile digital and financial inclusion noting that digitization if well used will cure most of Uganda’s problems mainly poverty and unemployment.

Full list of winners of the 2024 Digital Impact Awards Africa (here)

The post Kawu, PayTota and ClinicPesa Triumph at the HiPipo’s 2024 Digital Impact Awards Africa appeared first on PC Tech Magazine.

This year’s Pitchfest took place at the YouthConnekt Africa Summit on November 10, 2024, in Kigali, Rwanda, where five remarkable startup founders had the opportunity to pitch their solutions to an eager audience to win a share of 110 million Rwandan francs (approx. UGX293,582,853) in grants.

With solutions ranging from assistive devices made of recycled materials to accessible healthcare technology, this year’s finalists—Sinc, Geuza, Afya Wave, Clenville, and Life Line Africa—demonstrated the transformative power of tech-driven solutions to address critical challenges in Africa.

Hanga Pitchfest isn’t just a competition; it’s an incubator for Africa’s brightest minds and tech-driven solutions. By bringing together investors, business leaders, and key industry players, the competition provides an opportunity for startups to gain financial support, secure partnerships, and exposure. This holistic approach is aimed at empowering the next generation of tech entrepreneurs who are dedicated to solving social, environmental, and economic issues.

Since its inception, the Pitchfest has become a highly anticipated event, celebrating the spirit of entrepreneurship in Africa and paving the way for startups to secure the resources needed to grow their businesses. It is a key component of Rwanda’s national vision to foster digital innovation and economic resilience, offering a launchpad for innovations designed for Africa by Africans.

This year’s Hanga Pitchfest took place within the YouthConnekt Africa Summit, adding a layer of significance to the competition. The Summit is an annual gathering that brings together young people from across Africa to engage in discussions, networking, and showcases of youth-led initiatives. It was the perfect setting for this year’s Pitchfest, uniting young innovators with a shared vision of an empowered, self-sustaining Africa.

Ahunna Eziakonwa, Assistant Secretary-General and Director of UNDP’s Regional Bureau for Africa while expressing her optimism said, “Today fills me with hope, seeing young innovators sharing powerful solutions for challenges like disability inclusion, waste management, and maternal healthcare. With their ideas and passion, our future is truly in great hands.”

Paula Ingabire, Rwanda’s Minister of ICT and Innovation, echoed this sentiment, acknowledging the progress made over the past three days that the competition was happening. “I’m thrilled to have you all here today as we celebrate innovators, entrepreneurs, and problem-solvers of our society,” she said. “Over the past three days, we’ve witnessed young people daring to dream, coming together to shape the future they deserve, empowered by the skills they bring.”

The 2024 Hanga Pitchfest showcased five startups, each with a unique mission to address a specific challenge facing Africa today. These startups demonstrated the diversity of African innovation and the potential for scalable solutions that can impact millions across the continent.

1. Sinc: Revolutionizing event management

Sinc, which emerged as the overall winner and took home 50 million Rwf (approx. UGX133.4 million), aims to transform the events industry through an all-in-one platform designed to enhance event discovery and management. With Sinc, event organizers and attendees alike benefit from a streamlined experience that simplifies the coordination of large-scale events. The platform addresses logistical and operational challenges commonly faced in the events industry, offering a comprehensive solution that integrates ticketing, scheduling, and audience engagement.

This innovation reflects a growing demand for tech-driven platforms that can cater to Africa’s growing creative and event-planning industries.

2. Geuza: Eco-friendly assistive devices

Second-place winner Geuza Limited is making a significant impact in the lives of people with disabilities by creating affordable assistive devices from recycled electronic waste. Geuza’s products, which include crutches, walkers, and prosthetics, are eco-friendly and tailored to meet the needs of individuals across low-income regions of Africa. By repurposing electronic waste, Geuza addresses two critical issues: environmental sustainability and accessibility for people with disabilities.

The 20 million Rwf (approx. UGX53.37 million)prize will help Geuza expand its operations and improve accessibility for people who might otherwise be left behind.

3. Afya Wave: Bringing sonographic services to underserved communities

Afya Wave, which placed third and received a grant of 15 million Rwf (approx. UGX40.03 million), is tackling the healthcare gap in East Africa with low-cost, medical-grade ultrasound devices. The startup’s portable devices are designed to bring essential sonographic services to mothers in remote and underserved areas, offering a critical resource for prenatal care.

By lowering the cost of ultrasound technology, Afya Wave is improving maternal healthcare and reducing health disparities in areas that lack access to traditional medical facilities. The technology holds the potential to save countless lives, particularly in regions where medical imaging services are scarce or unaffordable.

4. Clenville Ltd: Transforming plastic waste management

Clenville, awarded 12.5 million Rwf (approx. UGX33.36 million), is focused on reimagining waste management through its “We Collect” app, an innovation that incentivizes users to segregate recyclables. By encouraging proper waste disposal and recycling, Clenville aims to tackle the inefficiencies in Africa’s waste management systems. The platform leverages digital technology to connect waste generators with collectors, creating a system that not only reduces environmental pollution but also creates economic opportunities for local communities. Clenville’s solution could significantly reduce the continent’s plastic waste problem, promoting sustainability and environmental stewardship.

5. Life Line Africa: Enhancing access to emergency medications

Life Line Africa, which also received 12.5 million Rwf (approx. UGX33.36 million), has developed a software platform designed to improve access to emergency medications across Africa. The platform integrates both in-house and third-party insurance services, as well as an outpatient drug tracking system, ensuring that patients can access vital medications when they need them most.

Life Line Africa’s focus on emergency healthcare could help address issues of drug shortages and limited access to life-saving medications, particularly in rural areas. This innovation has the potential to transform healthcare delivery in underserved regions, providing a reliable lifeline for those in need.

Beyond the monetary awards, Hanga Pitchfest will provide startups with invaluable opportunities to connect with potential investors, collaborators, and mentors. By elevating the visibility of these startups, Hanga Pitchfest helps bridge the gap between promising entrepreneurs and the resources necessary to bring their ideas to life. For young founders, the experience of pitching to a large, diverse audience provides exposure and confidence essential for navigating the competitive world of tech entrepreneurship.

“What founders receive at the Grand Finale is just a drop in the ocean of what they need to scale their businesses. Through our one-year program of business development and acceleration, we connect them with funders who provide essential capital, enabling them to reach the next stage, secure their first clients, and ultimately scale,” said Hon. Minister, Ingabire.

Hanga Pitchfest competition is a testament to Rwanda’s commitment to becoming a tech hub on the African continent. The event aligns with Rwanda’s vision to foster an ecosystem where digital innovation thrives and can contribute to socio-economic development. By investing in homegrown tech solutions, Rwanda is inspiring neighboring nations to follow suit, creating a regional movement toward self-sufficiency and tech-enabled development.

As Hanga Pitchfest continues to grow, so does the potential for African innovation. The startups showcased this year are part of a larger movement of young Africans harnessing technology to address local and global challenges. From healthcare and waste management to disability inclusion and digital platforms, these innovators are proving that Africa has the talent, vision, and drive to contribute meaningfully to the world’s tech landscape.

The Hanga Pitchfest and similar initiatives will play a crucial role in nurturing Africa’s tech ecosystem, ensuring that African entrepreneurs have access to the funding, mentorship, and partnerships they need. The future of Africa lies in the hands of these bold, creative problem-solvers who are building solutions that have the potential to reshape industries, improve lives, and inspire a new generation of innovators.

The post Event Management Startup, Sinc Today Emereges as Overall Winner of the 2024 Hanga Pitchfest appeared first on PC Tech Magazine.

“We are so proud to have reached this incredible fifth-anniversary milestone of The Future is Female Mentorship Program,” said Claudine Moore, Founder of The Future is Female Mentorship Program, in a press statement. “In five years, we have supported hundreds of African female tech founders and are delighted to have support from long-term partners.

Moore added, “As we look forward to the future of the program, we remain committed to scaling the initiative with supporting African female founders as our priority objective.”

The 2024 edition powered by Allison is supported by Salesforce Ventures Impact Fund for the second year, joining longtime sponsors of the program including TechCabal, F6S; the world’s largest startup database, and Africa Communications Week; a global platform that connects communications professionals focused on Africa‘s transformation. The partnerships enable the program to provide additional perspectives, tools, and insights for the selected female founders and bring world-class and Pan-African PR insights from additional leading experts, complementing Allison’s global and African regional PR expertise.

As part of the partnerships;

• Salesforce Ventures Impact Fund, which has invested in some of Africa’s top tech startups including Flutterwave and Andela, will be hosting a masterclass on VC funding for the selected mentees of the program.
• TechCabal will lead a masterclass providing the finalists with insights on working with tech media and understanding how to position their startups to gain the attention of the tech press.
• Africa Communications Week will give the founders expanded Pan-African and multi-market PR expertise, a key component for many female founders whose startups cover multiple African countries.

The 20 selected finalists for the fifth edition of The Future is Female Mentorship Program will become mentees of the Program, making up the Class of 2024. During the selection process, special consideration was given to startups focusing on health, education, finance, agriculture, and sustainability. Startups that provide solutions and/or address African women’s and girls’ needs also received special consideration.

Once the 20 finalists have completed the program, they will gain insights into the fundamentals of PR and communications for early-stage tech startups, create a communications plan, storytelling best practices, strategic business communications with multiple stakeholders, and how to position their startups for investment opportunities, to mention but a few.

The program is delivered virtually, and the mentees are invited to participate in masterclasses and sessions customized to the specific needs of their sector and business.

Since the launch of The Future is Female Mentorship Program in 2020, there has been a 253% increase in applications across Africa. The program enables women to participate in the rapidly growing tech sector, paving the way for a future in which women not only participate but thrive in the African technology sector.

The post 20 African Female-Led Tech Startups Selected for C. Moore Media’s Future is Female Mentorship Program appeared first on PC Tech Magazine.

The Digital Impact Awards Africa recognizes, celebrates, and appreciates different (stakeholders) individuals and organizations spearheading the use of digital mediums to better serve their communities. In addition, DIAA further celebrates digital excellence across Africa.

From its inception in 2014, DIAA was met with immense enthusiasm, with the majority of the market recognizing it as an initiative poised to elevate the industry to new heights. Despite this optimism, questions have been raised about its sustainability. Skeptics drew parallels with earlier initiatives that, like DIAA, began with considerable market excitement, only to fade away prematurely. Yet, DIAA has persevered, defying these predictions and cementing its role in leading the industry’s progress.

DIAA has not merely weathered the passage of time, but we have come to see it significantly transforming Africa’s trajectory in digital and financial inclusion. With each passing year, DIAA continues to make groundbreaking strides, redefining expectations and leading the charge toward a digitally inclusive future for all of Africa.

There are 12 categories in the 2024 DIAA —2 short compared to last year’s. The categories for this year’s awards include; Financial Inclusion Excellence, Digital Banking Excellence, Banking Innovation Excellence, Community/MFI Banking Innovation Excellence, Fintech Startup of the Year, Fintech of the Year, Financial Services Digital Excellence, Consumer Goods & Services Digital Excellence, Utilities & Government Services Digital Excellence, Technology Services Digital Excellence, CEO of the Year (DFS), and Digital Brand of the Year.

The list includes nominees from previous years such as banks; ABSA, Centenary, Equity, Stanbic, Standard Chartered, PostBank —and their innovations, Wendi, FlexiPay, telecoms; MTN and Airtel, and government institutions, NSSF, NWSC, UMEME, URA, and URSB, to mention but few.

HiPipo has included the Fintech Startup of the Year award, and five Fintech startups—Fido, Kawu, PayTota, PesaJet, and Zimba Technologies—have been nominated, each bringing a unique innovation to the table.

We were unable to reach any of the startup founders for a comment.

• Fido: Regulated by the Uganda Microfinance Regulatory Authority, Fido offers digital individual and business loans of up to UGX1.4 million and UGX2.5 million respectively. Once your loans have been approved, the client can choose a 10-day or 30-day repayment period. Interest is charged daily —so the earlier you pay the less interest you pay.

“Fido is on a mission to empower individuals and entrepreneurs to take charge of their future by providing financial services that are inclusive, instant, and easily accessible through Fido’s innovative digital products,” Robert Muhumuza, Deputy CEO of Fido told HiPipo. “We offer both individual and business loans.”.

Muhumuza noted that for the time they have been in Uganda, they have served over 700,000 customers and disbursed money in billions.

• Kawu: Kawu has built a finance and payment solution for students. They have developed a smart card that students use to receive money from their parents for upkeep.

“In most schools, students are not allowed to have mobile phones. So, when they are in school, the only way they can access money is through cash. So what we have done is we have taken away all that process of sending money to students through teachers who then give it to them in cash by designing a smart card that allows you as a parent to send money directly to your child,” explained Steven Kakooza, Co-founder and Director at Kawu. “The child receives on his/her Kawu smart card which they can use to make payments (for goods and services) or save.”

Parents send money (via mobile money) using the Kawu app directly to their child’s smart card. In addition, the parents can also use the app, to manage their child’s expenditures and also set withdrawal limits on the card.

• PayTota: Launched in 2020, Paytota is an online payment gateway solution that allows individuals and businesses to make and accept payments from local and international buyers and sellers with payment facilitators such as Mobile Network Operators (MNOs) like MTN Mobile Money and Airtel Money, Banks, and Payment Cards Operators like Visa and Mastercard.

“We are a regulated payment gateway by the Bank of Uganda. We have a license as a payment operator for small funds and third-party systems that permits us to process payments for our partners,” Erasmus Okurut, the founder and CEO of PayTota told HiPipo in a podcast. “That is why over 400 businesses in Uganda and across the World trust us to manage their payments. We have had over 5000 transactions and processed over USD$400,000 (approx. UGX1.46 billion).”

• PesaJet: Specializing in digital lending and microcredit, PesaJet is a financial technology solution targeting underserved communities that are unable to access loans from mainstream banking solutions. They focus on three main themes; (1) Education where they give school fees to school-going children, (2) Merchant stock for small and medium-scale businesses looking for stock, and (3) Smallholder farmers who receive agriculture loans.

PesaJet has onboarded over 50 schools, serving around 500 satisfied parents and students and 2,000 farmers, and established agreements with five wholesalers. Angella Kansemiire, Product Manager at PesaJet, told HiPipo in a podcast that their customers are eligible to apply for loans between UGX50,000 and UGX200,000, which grows depending on their repayment behavior and credit history.

• Zimba Technologies: Builds core banking solutions and systems for financial institutions with a primary focus on SACCOs and microfinance institutions.

“I wanted to start a business to address the problem of capital and access to finance. I knew that SACCOs and microfinance play an important role for the people at the bottom of the pyramid as they enable them access to capital. But I believe that they can do better with the help of technology. That is how Zimba Technologies came about,” explained Isaac Were, Zimba Technologies Founder and CEO.

Zimba Technologies has developed an end-to-end solution that allows institutions to handle all their operations from managing clients and their data, loans, and deposits, and keeping track of all their books. In addition, they have also developed a mobile app specifically for the end-users that allows them to have access to their financial information, view their statements, and apply for loans. They also have a blockchain-based wallet that handles all the cashless transactions.

Launched in November 2023, Zimba Technologies currently has seventeen institutions that are using the platform, and serve over 80,000 end-users.

Uganda’s fintech sector is rapidly evolving, driven by increasing demand for digital financial services that bridge financial inclusion gaps across the country. From digital lending to mobile payment solutions, Ugandan fintech startups are transforming the local economy and setting benchmarks for digital innovation in Africa. These startups address challenges and provide practical financial solutions to underserved populations (mostly), contributing significantly to economic growth and inclusion.

The post 5 Fintech Startups Nominated For HiPipo’s 2024 Digital Impact Awards Africa appeared first on PC Tech Magazine.

Launched on the M-PESA For Business Super App, the partnership marks M-PESA’s drive to expand its suite of services for the 650,000 users registered for its business till number, and over 50 million monthly active users across several African countries. With tappi becoming one of the first mini apps to feature on M-PESA For Business, the startup will deliver a subsidized package equipping M-PESA’s merchants to build their online presence, capture verified reviews, and strengthen engagement with an expanded customer base. 

For KSH1,350 (approximately USD$11), merchants will receive access to a free webpage, 50 SMS/WhatsApp reviews, which will be integrated into the merchant’s websites, as well as 250 Bulk SMS Marketing Credits. As part of the collaboration, M-PESA Ratiba, a new automated solution allowing M-PESA users to automate their online payments, has also been included in the tappi mini app, enabling business owners to seamlessly pay their monthly subscriptions without disruptions. 

Kenfield Griffith, CEO and Co-Founder of tappi said they are proud to partner with one of the most innovative telcos in the market, and firmly believe this will be the first of many steps in their shared mission for MSMEs to not only become active but thriving participants in the digital economy.

Kenfield also noted that the partnership is a significant milestone for tappi and a huge endorsement of the value Safaricom and tappi look to generate for MSMEs across Kenya. “With over 35 million subscribers, M-PESA has long established itself as the engine through which millions of local entrepreneurs handle their transactions, and with many of these businesses constantly looking for new customers, our tools will be a crucial springboard in driving them to achieve this within an online setting,” he elaborated.

Targeted to reach at least 300,000 M-PESA for Business app users, the partnership has officially launched with an initial cohort of over 250 M-PESA For Business app users across the food, fashion, health, and beauty sectors throughout Kenya. tappi’s solutions will build on the M-PESA For Business app’s existing functionalities which include viewing collections, statements, and payments as well as transacting directly from the M-PESA till number. 

Safaricom’s CEO, Peter Ndegwa said, “We are happy to onboard tappi as our first mini-app partner on the M-PESA Business app. This partnership seeks to empower our merchants with affordable and innovative tools and capabilities to grow their businesses.” Adding “We look forward to driving financial inclusion through building the capacities of small and medium-sized businesses, enhancing customer experience thus contributing to the Kenyan economy.”

tappi’s collaboration with Safaricom marks the latest in a series of moves over the last 12 months to capture Africa’s USD$20 billion (approx. KSH2.59 trillion) market to bridge the digital divide for the continent’s MSMEs. In May 2024, the startup signed a Memorandum of Understanding with the Kenya National Chamber of Commerce and Industry to drive digital services for 30,000 Kenyan MSMEs. This followed its expansion to Cote d’Ivoire in March 2024 in partnership with MTN, whom tappi has also partnered with across its additional market, Nigeria. 

With a 90% retention rate and a 1.5-month payback period since its inception in 2019, the platform has captured verified reviews on USD$3.4 million (approx. KSH439.8 million) consumer transactions, and engaged with over 180,000 consumers to date, underscoring its commitment to driving digital inclusion and supporting MSMEs across Africa. 

According to USAID (US Agency for International Development), MSMEs generate nearly a third of Kenya’s total GDP. However, despite their significant economic impact, numerous businesses still face significant hurdles in establishing a trusted online presence. This is primarily due to current tools being too complex, the requirements for an international credit card, or the listing of websites in places where trust is difficult to gauge, establishing significant hurdles to access and convert new customers. 

Through its powerful end-to-end digital commerce stack, tappi addresses these challenges by facilitating a seamless online business profile creation process through an intuitive chat experience. Leveraging payments, messaging, and AI, the platform is quickly establishing itself as the SEO backbone to boost revenue for MSMEs across Africa, helping businesses gain visibility, consolidate payments with verified reviews to build online trust, and pay for online Ads with mobile airtime. 

The post tappi and Safaricom’s M-PESA Partner to Drive Digital Innovation for Kenyan MSMEs appeared first on PC Tech Magazine.

“The future of payments lies in fast, affordable rails for everyone, powered by open networks,” said Aleks Larsen, General Partner at Blockchain Capital, the lead investor in Yellow Card’s Series C financing. “We couldn’t be more excited to back Yellow Card as they bring Africa on-chain with stablecoins.”

This financing now marks a significant milestone for Yellow Card and the African Fintech industry as a whole, as it validates the vision and progress for stablecoins in Africa and the technology’s practical applications worldwide.

“This fundraise not only demonstrates our resilience but also highlights the vital role of digital assets for businesses across Africa,” Chris Maurice, CEO and Co-founder of Yellow Card, said in a press statement. “We are excited about the opportunities, partnerships, and journey ahead —and I’m proud to work with an incredible cohort of investors that share our vision for the industry and Africa.”

Since its launch, Yellow Card has established itself as a pioneering force in the industry, with operations spanning 20 African countries —Uganda inclusive allowing customers to easily move money across borders while paying a fraction of the fees associated with traditional money transfers. With its new funding, the company is looking to grow its customer base and expand to other countries, like Ethiopia, Egypt, and Morocco, which is considering new legislation opening them up further to digital currencies.

This newly secured capital will be applied to fund growth and expansion, particularly through enhancing Yellow Card’s API and widget products —the gateways for international businesses including Coinbase and Block to tap into African markets and for Pan-African companies to make international payments and manage their treasury via stablecoins easily. Additionally, Yellow Card is developing innovative new products for the continent, strengthening its team and systems, and continuing to lead engagement with regulators across the continent.

The company uses stablecoins, which are tied to the value of the US dollar, as a common medium of exchange to enable smoother transactions. When customers deposit local currency with Yellow Card, they receive stablecoins like USDT and USDC, which customers can then use to send money around the world in other currencies using the Yellow Card platform.

Yellow Card remains steadfast in its commitment to empowering the continent by making it easy for businesses of all sizes to make international payments, manage their treasury, and access hard currency liquidity via stablecoins.

See also: Digital coin’s role in the evolution of blockchain interoperability

The post Yellow Card Raises $33M Series C Funding with Blockchain Capital at the Helm appeared first on PC Tech Magazine.

Farmpawa (from Uganda) is among the 10 semi-finalists. The other semi-finalists are from Ethiopia, Ghana, Kenya, Nigeria, and the United Kingdom.

“We are truly lucky to have become participants of this competition and getting to the semifinals,” Moses Eteku, CEO of Farmpawa told PC Tech Magazine. “With this fund, we envision expanding the reach of the company’s services by reaching more farmers in Uganda and possibly other countries, as well as refining the technologies used in the platform to ease usage for everyone.” He adds “With this funding, we would also be able to increase the amounts of training and support given to farmers improving overall production returns as well as efficiency on their farms.”

FarmPawa is a crowd-farming platform that connects farmers and investors to create mutual benefits of available agricultural opportunities in Uganda. It aims to promote sustainable investment in the agriculture sector as well as provide the farmer with the necessary instruments.

The 10 semi-finalists competing for a grand prize of USD$1 million —will participate in an Innovation Showcase at the Milken Institute’s Middle East and Africa Summit on December 5-6, 2024, in Abu Dhabi, UAE. During the event, the teams will pitch their innovations to a panel of expert judges and investors —and only three teams will be selected to move on to the final round of the prize.

The Grand Prize will be at the Milken Institute’s Global Conference in Los Angeles, in May 2025 where the overall winner will receive USD$1 million.

During the December showcase, the judges will evaluate the pitches based on the teams’ ability to deliver solutions that improve financial inclusion for under-resourced groups in emerging and frontier markets.

The Milken-Motsepe Prize in Fintech awards startups demonstrating the use of cutting-edge technologies to expand access to capital and financial services for small businesses in emerging and frontier markets.

These teams operate in nearly 30 countries across three continents, and their innovations hold the potential for significant breakthroughs in financial inclusion for underserved communities on a global scale. Over the next four months, the Semifinalist teams will test and scale their solutions, which will be evaluated for impact, scalability, and sustainability.

“By supporting these pioneering teams, we aim to foster financial inclusion and empower entrepreneurs who drive economic growth and opportunities in their communities,” said Emily Musil, Senior Director of Milken Institute. “Our prizes help identify, support, and celebrate talent to ignite the entrepreneurial spirit and empower visionaries to turn their ideas for a better future into reality.”

The 10 semi-finalists

The post Farmpawa Secures $100,000 as a Semi-Finalist in the 2024 Milken-Motsepe Fintech Prize appeared first on PC Tech Magazine.