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The Bank of Uganda has granted Tanzanian fintech NALA an International Money Transfer Operator (IMTO) license, the fintech announced on August 29. This allows NALA to expand its operations in Uganda by integrating directly with mobile money services, offering users a seamless way to transfer funds into local mobile wallets and enhancing the efficiency and security of cross-border payments.
NALA facilitates money transfers from the UK, US, and EU to several African countries, including Uganda. It has collaborated closely with the Bank of Uganda to meet regulatory requirements, contributing to an increase in foreign exchange supply, which is vital for economic growth.
Nairobi, Africa’s Silicon Savannah, will host the AfricArena Nairobi Summit during Africa Climate Tech Week from September 3-4, 2024.
We’re heading to Kenya! 🇰🇪 Excited to announce the AfricArena Nairobi Summit from Sept 1-4, focusing on Climate Tech in Africa! 🌍
— AfricArena (@AFRICARENA) July 15, 2024
This summit will bring together investors, startups, and policymakers to advance Climate Tech in Africa.
🔗https://t.co/rGN8PJAEki🌱#ClimateTech pic.twitter.com/3MJeD6RMAc
The event will highlight over 20 top climate tech and green economy startups, showcasing innovations and reinforcing Nairobi’s role as a key driver in Africa’s tech and investment scene.
The summit will feature startups like Aquarech, RHEA Soil Health, and iShamba Limited, along with 6 Korean startups expanding into Africa.
Omnisient, a South African startup focused on privacy-preserving data collaboration, has raised $7.5 million in Series A funding from Arise, an investor in African financial service providers and fintechs. The startup announced the funding on August 27.
The investment will fuel Omnisient’s expansion into markets in Africa, the UK, the US and the Middle East. It will also allow Omnisient to partner with larger data providers, expanding financial services access globally.
Flutterwave has secured a Payment Systems Operator (PSO) license from the Bank of Uganda, enabling it to offer its payment solutions to businesses in the east-african country. The company announced this new move on August 28.
Ki kati Uganda, we have brought the wave to you! 🇺🇬🦋
— Flutterwave (@theflutterwave) August 28, 2024
We have secured a Payment Systems Operator license from the Bank of Uganda!
Expanding into Uganda aligns with our vision of a financially connected Africa where enterprises can operate seamlessly on the continent and expand… pic.twitter.com/4WKblu1GkA
This milestone allows Ugandan businesses to accept various payment methods, including mobile money, bank transfers and cards, while also facilitating easy remittances from the diaspora.
The expansion allows businesses to boost growth and efficiency by capitalizing on Flutterwave’s solutions, including payment collection, seamless payouts and invoicing.
Proparco has provided a €400,000 loan to Rubyx, an African start-up, through the Bridge by Digital Africa facility. This funding will help Rubyx rapidly expand its algorithmic loan offering for start-ups and microfinance institutions across Africa.
The Bridge by Digital Africa facility, backed by Digital Africa and managed by Proparco, offers bridging finance to young African companies to support their growth between funding rounds.
This investment aims to boost access to loan products for African Very Small Enterprises (VSEs) and Small and Medium-sized Enterprises (SMEs), supporting financial inclusion efforts on the continent.
The United Nations Development Program (UNDP) and Timbuktoo Africa Innovation Foundation have launched the HealthTech Startup Accelerator Program, a Pan-African initiative focused on transforming healthcare across the continent. Hosted at the HealthTech Hub in Kigali, Rwanda, the program aims to empower startups to develop innovative health technologies that address Africa's critical healthcare challenges.
The accelerator offers early-stage startups mentorship, funding, and access to advanced resources. Applications are open to African-owned startups with founders aged 18 to 35, who have a minimum viable product in sectors like telemedicine, healthcare logistics, diagnostics, and mobile health. Interested startups must apply by October 6, 2024.
AfriLabs invites Nigerian tech innovators and entrepreneurs to an exclusive, self-funded trip to Paris from October 9th to 11th, 2024. This trip offers a chance to secure investment, gain industry insights through 500+ workshops and conferences, and participate in 33,500 business meetings.
It is also a platform to showcase Nigerian innovations on a global stage. The program is open to hubs, entrepreneurs, and key players in Nigeria's tech ecosystem.
Registration closes by September 7.
The Zambia Chamber of Mines has urged the government to incorporate Artificial Intelligence (AI) and modern technology into the Technical Education, Vocational, and Entrepreneurship Training (TEVET) curriculum.
At an August 25 meeting with Technology Minister Felix Mutati, Zambia Chamber of Mines Vice President Charles Sakanya emphasized the need to equip artisans with AI skills essential for exploration and mineral mapping.
Minister Mutati confirmed that the TEVET Act is being revised to focus on competency-based training and called on the mining sector to contribute to this update.
Konga, a leading Nigerian online marketplace, has announced a strategic partnership with Starlink to provide satellite internet services to underserved areas across the country. This collaboration is aimed at bridging the digital divide by delivering reliable, high-speed internet connectivity to regions with limited or no terrestrial internet coverage.
As the only authorized shop-in-shop for Starlink in Nigeria, Konga is enthusiastic about the potential impact of this partnership. Through their partnership, Konga and Starlink are playing a pivotal role in ensuring that all Nigerians can benefit from the transformative power of the internet.
Ghanaian fintech startup PayBox has launched a mobile application that leverages blockchain technology and artificial intelligence (AI) to reduce transaction fees and simplify cross-border payments.
The application, Buddy, offers streamlined financial solutions for small and medium-sized enterprises (SMEs) across more than 23 African countries.
By functioning as both a mobile and decentralized app, Buddy offers a user-friendly interface, empowering users to manage their personal and business finances with ease.
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MEST Africa is inviting emerging tech entrepreneurs to participate in the MEST Africa Challenge (MAC) 2024. As Africa’s premier pitch competition, MAC 2024 will focus on agri-tech startups in West Africa.
The winning startup will receive investment capital, coaching, and access to a global network of resources. Applications open on August 26, 2024, and close on October 4, 2024, with virtual semifinals scheduled for October 29-30, 2024.
Eligible startups must have a minimum monthly revenue of $5,000, raised less than $1 million in funding, and have been operating for three years or less. All participants will pitch in English.
Starlink, the satellite internet service from SpaceX, is set to begin operations in Ghana at the end of August 2024, according to the National Communications Authority.
In a press release published on August 22, the NCA confirmed that Starlink had completed all necessary due diligence, clearing the way for the launch.
Starlink received approval to operate in Ghana in April, following discussions with the NCA, which granted the license after thorough checks.
Educational technology company Schoolap, based in the Democratic Republic of Congo, has expanded into Kenya to grow its presence in Anglophone Africa. The move follows its success in Francophone markets, including the Democratic Republic of Congo and Côte d'Ivoire.
The platform, which offers digital curriculum management, interactive learning tools, and performance tracking, aims to address educational gaps and support Kenya's efforts to integrate technology into its education system.
Starlink has introduced a monthly rental option for its hardware kits in Kenya, following the end of a previous limited-time offer. Users can rent the kit for KES 1,950 ($15.06) per month with a one-time activation fee of KES 2,700 ($20.85). This fee is separate from the monthly internet service costs.
Previously, the hardware kit cost KES 89,000 ($687.26), but the price has now dropped to KES 45,500 ($351.35) for outright purchase. The new rental plan aims to make Starlink’s services more accessible.