The healthtech startup is taking that difficult decision four years after its creation with some $45 million in funding attracted and numerous strategic partnerships.
For several days now, startup 54gene's website has been inaccessible. According to sources close to the company quoted by Nigerian media outlet Techcabal, the company is winding down operations. The process, initiated in July 2023, was prompted by financial challenges and internal conflicts.
In early 2023, Abasi Ene-Obong, the figurehead of healthtech specializing in genomic research, tendered his resignation following accusations of financial malfeasance. Ron Chiarello, who was appointed in March 2023 to replace him, left three months later. Last July, he said the company “could not continue to operate financially.”
Founded in 2019 by Abasi Ene-Obong, Damilola Oni, Gatumi Aliyu, and Ogochukwu Francis Osifo, 54gene had a grand ambition: to bridge the genomics research gap in Africa with the aim of discovering new healthcare solutions for the continent's populations and those of African descent. Strategic collaborations have been initiated to this end.
In May 2022, 54gene signed a memorandum of understanding with the Académie Nationale des sciences et techniques du Sénégal (ANSTS), the human genetics department of the Faculty of Medicine, Pharmacy and Odonto-stomatology at Dakar's Cheikh Anta Diop University. The aim of the collaboration was to gain a better understanding of hereditary diseases and improve medical monitoring of the Senegalese population.
SEN-GENOME, a study of the genetic heritage of populations, was scheduled to start in July 2022. It was to trace the history of Senegalese populations and identify genetic risk factors for diseases such as cancer, cardiovascular disease, certain infectious diseases, and rare genetic diseases. Initial results were expected in December 2023.
This research will probably be concluded by the Senegalese party unless Abasi Ene-Obong, the former CEO of 54gene who had materialized this cooperation, takes it over. On September 15, on social media, he announced the launch of his new company Syndicate Bio. This company is also focused on genomic research and precision medicine.
Adoni Conrad Quenum
South African fintech startup Revio announced, Tuesday (September 29), the successful completion of a $5.2 million funding round. The deal was led by QED Investors and Partech, with the participation of former fintech investors such as Speedinvest, RaliCap, and Everywhere VC. Founded in 2020 by Ruaan Botha, the fintech startup wants to use the funds to, among other things, improve its technology, broaden its offerings, and expand into new markets on the continent.
With digital transformation accelerating worldwide, interest in cloud services is intensifying. Other continents have made considerable progress in that field while Africa barely accounts for 1% of the data centers installed globally.
Chinese tech giant Huawei will invest $200 million to create Africa's first public cloud center, offering over 200 cloud services. Terry HE, President of Huawei Northern Africa (North, West, and Central Africa), made the announcement at the opening of the 8th edition of "Huawei Connect", held from September 20 to 22 in Shanghai, China.
"Every technological evolution is the result of perseverance, exploration, and investment," said Terry HE (photo), before adding that "to expedite intelligent transformation in Northern Africa, Huawei will intensify its investments in technologies, ecosystems, and talent."
The $200 million investment announced is part of the $430 million the company plans to invest in Africa over the next five years. Under that investment plan, Huawei will make a further $200 million available to support 200 local software partners and strengthen 1,300 distribution partners. The remaining $30 million will be injected to train 10,000 local developers and 100,000 digital professionals, creating a skilled workforce to drive smart transformation in the region.
This initiative is part of Huawei's new strategy to assist Africa toward a "smart, connected future". In addition to improving deployment capacity, reducing costs, and securing data storage, Huawei's public cloud will also provide services capable of supporting extensive, efficient, and high-quality digital coverage, while reducing carbon emissions.
It should be remembered that Africa's share of the cloud market is still relatively marginal compared with the global market, which reached $445 billion in 2021. According to the report "Global Cloud Computing Market (2021 to 2028)", that market will triple to $1,200 billion by 2028. To improve its share in the market, Africa needs significant investments.
Samira Njoya
The startup behind the solution was primarily operational in the delivery sector. It later formed partnerships to facilitate the purchase and delivery of goods from certain retailers.
Quench is a mobile application developed by a South African startup. It enables users to buy goods from its partners and get them delivered. The said startup was founded in 2016. Its aim is to "create a convenient shopping experience, giving [users] more time at home and less time in stores."
The mobile app is available on iOS and Android. Through the app, a user can register for an account and buy groceries and essentials, alcoholic beverages as well as food.
To place an order, users must first enter their address by clicking on the "Account" button and then on "My Delivery Addresses". This first step is to determine whether there are delivery options for the addresses imputed by users. If there are no delivery options for the addresses imputed, users can not proceed further.
However, if there are delivery options, users can add items to their baskets, and checkout to validate orders. When ordered products run out of stock, Quench always contacts users to inquire whether it should replace them.
Since its launch, the Android version of its mobile application has been downloaded more than 50,000 times, according to Play Store data. It wants to become a super app, and in April 2021 it raised an undisclosed amount to kick-start this project by strengthening its partnerships and improving its technology.
Adoni Conrad Quenum
IncubMe plays a key role in the advancement of innovation in Algeria and Africa as a whole. It contributes to the creation of a dynamic, diversified, and inclusive entrepreneurial ecosystem, supporting project leaders on their entrepreneurial journey.
IncubMe is a pan-African incubator founded, in 2018, by Algerian entrepreneurs. It supports project leaders by offering an ideal environment that helps them turn their ideas into businesses.
The incubator offers personalized incubation services that give project owners access to advice, guidance, recommendations, and new, formative, and inspiring experiences. It offers growth and acceleration programs to boost the performance of startups and help them expand into national and regional markets.
Some of the programs it implements include the Summer Break Challenge, a competition for university clubs across the country. There's also Africa By IncubMe, a 3-6 month incubation program designed for both early-stage, advanced startups from several countries. The program offers mentoring, collaboration, and financing opportunities, as well as access to the Algerian and African markets.
IncubMe offers financing opportunities to help startups develop and scale their projects. It also has a network of investors and an investment fund dedicated to African startups.
In addition to its programs and financial support, IncubMe has developed a platform that connects startups with stakeholders in the African entrepreneurial ecosystem. It organizes events and hackathons, offering opportunities to meet, exchange, and collaborate with other entrepreneurs, innovators, experts, and industry players. The incubator regularly organizes themed events, workshops, training courses, and competitions. To date, it has supported over 42 startups and organized more than 20 events.
In 2022, the Algerian Ministry of Startups named it the best incubator nationwide.
Melchior Koba
He leverages facial biometrics to thwart identity theft and guarantee a high level of confidentiality. His innovation earned him several awards and recognitions.
Yassine Mountacif (photo) is a young Moroccan-born entrepreneur. He began his studies in Morocco, where he finished his classes (CPGE) in 2011. He then entered the French engineering school Mines Nancy, graduating in materials engineering in 2013. In 2017, he also graduated from Ecole Polytechnique with an engineering degree. He then attended the University of California, Berkeley, where he earned a Master’s in Entrepreneurship and Innovation.
In 2017, he decided to embark on an entrepreneurial adventure and set up his own company, Unissey where he serves as the CEO. Through the tech company, he offers a facial biometric authentication solution that gives everyone unique and intuitive access to everyday services using only their facials as the authentication method.
Unissey relies on cutting-edge algorithms that combine live detection and facial comparison, to thwart attempted identity theft and guarantee a high level of security and confidentiality. The company has positioned itself as a major player in facial biometrics in France and abroad. Its clients include well-known companies in the banking, insurance, e-commerce, and healthcare sectors.
Unissey's success is underpinned by a talented and passionate team of experts led by Yassine Mountacif, a visionary and ambitious leader attached to his home country.
A former research and development engineer (2015) at French automotive supplier Valeo, Yassine Mountacif has been celebrated for his works and innovation. In 2019, he was listed on the Forbes France 30 Under 30 list.
Melchior Koba
The digital world offers development opportunities, but it also poses privacy threats, jeopardizing citizens' security. Authorities are intensifying efforts to restore user trust and ensure data protection.
Kenya's Office of the Data Protection Commissioner (ODPC) fined three entities a total of KES 9,375,000, according to a September 26 press release.
Among the entities fined is Mulla Pride Ltd, a Digital Credit Provider (DCP) that operates the KeCredit and Faircash mobile lending apps. It received a KES 2,975,000 fine for the misuse of personal information obtained from third parties. This data was inappropriately used to intimidate and harass individuals.
The second entity is the Casa Vera Lounge, a popular restaurant in Nairobi. They were fined KES 1,850,000 for posting a customer's image on their social media platform without the subject's consent.
Meanwhile, Roma School, an educational institution in Uthiru, received a KES 4,550,000 penalty for posting pictures of minors without parental consent.
These penalty notices were issued per Sections 62 and 63 of the Data Protection Act, 2019, and Regulations 20 and 21 of the Data Protection (Complaints Handling Procedure and Enforcement) Regulations, 2021.
The ODPC's actions aim to safeguard the rights and privacy of individuals, reinforcing the significance of complying with data protection regulations. These penalties are expected to prompt greater vigilance and adherence to data protection rules throughout the country.
Hikmatu Bilali
Acelera Angola is an important supporter of change and innovation in Africa. Through its programs and initiatives, it continues to transform the Angolan and African entrepreneurial landscape.
Acelera Angola is a Luanda-based startup accelerator that promotes entrepreneurship and drives creative business in Africa. Founded in 2017 by its managing partner José Carlos Santos, an Angolan entrepreneur, its mission is to support innovative startups with high growth potential, offering them training, mentoring, networking, and financing services.
Under the management of José Carlos Santos, Acelera Angola has set up a series of programs and activities to support startups at different stages of their development.
These include the Clube do Empreendedor, an event organized jointly with the US Embassy in Angola and Unitel, offering entrepreneurs the opportunity to exchange experiences. There's also Acelera Mentoring, an event that offers free mentoring to startups at different stages and gives them the chance to collaborate with specialists.
In addition, Acelera Angola has launched several specific programs such as FEMTECH, a four to six-month business acceleration program for women entrepreneurs, BETA-START which aims to promote entrepreneurship in Angola, and ReStart, a fully digital program for Angolan women entrepreneurs who want to innovate and accelerate the growth of their businesses. Application for the sixth edition of that program was opened on August 1, 2023.
Since its creation, Acelera Angola has trained over 750 people, launched more than 22 programs across at least 18 target provinces in Angola, and supported more than 362 startups in various sectors.
It has a network of local and international partners who contribute to its development and that of its startups. These include the International Finance Corporation (IFC), the Angolan government, which has supported several incubation and acceleration programs, and Total Energies.
Acelera Angola is therefore a benchmark accelerator in Africa, contributing to the continent's social and economic transformation through innovation and creativity.
Melchior Koba
The AI conversational agent has been revolutionizing the technology sector since its launch. But, OpenAI, the company that owns the technology, is still improving that groundbreaking tool.
Californian AI firm OpenAI announced on Wednesday, September 27 that its flagship product ChatGPT, an AI-powered conversational agent, can now browse the Internet and provide real-time information. This functionality is available thanks to Browse with Bing, the result of its collaboration with Microsoft.
"ChatGPT can now browse the internet to provide you with current and authoritative information, complete with direct links to sources. It is no longer limited to data before September 2021. Since the original launch of browsing in May, we received useful feedback.[...] Browsing is available to Plus and Enterprise users today, and we’ll expand to all users soon. To enable, choose Browse with Bing in the selector under GPT-4," explains OpenAI on social media..
Thanks to a number of strategic partnerships, OpenAI is strengthening its market position with this development. While announcing several features for ChatGPT, OpenAI also announced on Monday, September 25 that its conversational agent can see, hear, and speak.
"We’re rolling out voice and images in ChatGPT to Plus and Enterprise users over the next two weeks. Voice is coming on iOS and Android (opt-in in your settings) and images will be available on all platforms," OpenAi wrote on its website.
Adoni Conrad Quenum
Ham Serunjogi (photo), co-founder of Nigerian unicorn Chipper Cash, was appointed on Tuesday, September 26 to the U.S. Council for African Diaspora Engagement. He will serve in the twelve-member council along with 11 other African Americans, until 2025.
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Cryptocurrency and blockchain adoption is growing rapidly around the globe. To stay relevant in the market in such context, global fintechs are committed to expanding their services and bridging the gap between fiat and digital currencies.
On Tuesday, September 26, US financial services company MoneyGram announced plans to launch its digital wallet, which enables conversion to fiat currency, next year.
The wallet, which will officially debut in the first quarter of 2024, will enable consumers worldwide to leverage stablecoin technology to seamlessly switch between fiat and digital currencies or the other way around, all via Moneygram.
"Our vision to connect the world's communities, by empowering our customers through innovative financial solutions, takes another step forward today. [...] We're thrilled to have the vision, strategic plans, innovative technology, and expansive retail network in place to continue offering consumers access to the digital economy, but now further backed by our global reputation for speed, efficiency, and trust," said Alex Holmes, MoneyGram CEO.
The launch of Moneygram's crypto wallet is part of a partnership signed with the Stellar Development Foundation. The agreement became effective last year, with the launch of an initial service aimed at offering a bridge between cash and cryptocurrency. The service has been extended to eight digital wallets on the Stellar blockchain, offering consumers the ability to make withdrawals in over 180 countries and cash-ins in more than 30 countries worldwide.
As such, the new non-custodial wallet will use the Stellar network and MoneyGram's fiat transfer services to facilitate instant transactions. It will be a “zero-fee service” until June 2024, redefining cross-border payments and giving MoneyGram customers new ways to send and receive money.
Samira Njoya
Through Voyc AI, his client management compliance research company, he offers companies the possibility to supervise customer interactions and improve customer experience.
South African Matthew Westaway (photo) is the CEO and co-founder of Voyc AI, an Amsterdam-based start-up that uses artificial intelligence to analyze telephone conversations between companies and their customers. Through that company, he helps companies meet compliance standards and improve customer experience.
The CEO graduated from the University of Cape Town with a master's degree in computer vision and photogrammetry engineering in 2015. Matthew Westaway is driven by the vision of securing trust between companies and their customers by ensuring consistent quality and care in every interaction. In 2017, together with his friend Lethabo Motsoaledi, he came up with the idea of creating Voyc AI, after noticing the difficulties companies were experiencing in manually listening to and analyzing recordings of interviews with their customers. The project was launched the following year.
Since then, the former beneficiary of the Google for Startups Accelerator Africa program has attracted dozens of call centers in various regulated sectors in South Africa and England. The startup enables them to reduce compliance risks, improve operational performance, measure customer satisfaction, and identify customer vulnerabilities.
In September 2023, the entrepreneur was selected for ScaleNL Accelerator West Coast 2023, a 12-week immersive program designed to help startup founders enter the US market.
Prior to Voyc AI, the entrepreneur co-founded 3D Power, a company specializing in 3D printing, in 2014. In 2016, he also co-founded Hello Baby Prints, a startup specializing in baby technology, known for its 3D ultrasound printing product, Hello Baby 3D Prints. Matthew Westaway also co-founded Motsoaledi & West, a design-led innovation agency, in 2017.
Melchior Koba
Africa CEO Forum, in partnership with Ecobank Côte d'Ivoire, will organize the forum “Invest in Côte d’Ivoire’s Digital Economy” (Invest in Côte d’Ivoire – Economie numérique) next October 5 in Abidjan.
According to an official press release, the event aims to highlight the investment opportunities offered by the country’s digital sector.
Botswana Fibre Networks (BoFiNet) is due to receive its data center, built by a Chinese company, in October, according to the Chinese news agency Xinhua.
Called the Digital Delta Data Center (DDDC), it is located in the Gaborone-based Botswana Innovation Hub. The Tier 3 data center spans over 1,000 square meters with the ability to house around 400 bays. It will enable Botswana to assume data sovereignty and facilitate its ongoing socio-economic transformation.