TechPression

Author: Hauwa Ali

  • YEAC-Nigeria’s Initiative lights up Niger Delta communities

    YEAC-Nigeria’s Initiative lights up Niger Delta communities

    The Youths for Environmental and Advocacy Centre (YEAC-Nigeria) has unveiled a pioneering solar off-grid project, the YEAC Community Energy And Development Centre (YEAC-CEAD), with the backing of UK development partners. 

    This initiative marks a significant step towards sustainable energy solutions for communities deprived of electricity.

    The formal launch in Port Harcourt was more than just an event; it was the heralding of a new era. Fyneface Dumnamene Fyneface, the visionary behind the project, emphasized that YEAC-CEAD is not just about providing power; it’s about ushering in a clean energy revolution. This solar-powered venture starkly contrasts traditional power sources reliant on gas, diesel, or PMS, aligning with the global shift away from fossil fuels.

    Read also: Nigeria opens startup portal for tech innovators

     YEAC-CEAD Promises Reliability and Sustainability 

    YEAC-CEAD promises to end the all-too-familiar woes of power failures and inconsistent supply. The project guarantees stable and reliable electricity by harnessing solar energy, a game-changer for communities that have long suffered from inadequate power infrastructure. This renewable energy solution is sustainable and affordable, making it accessible to those who need it most.

    The project also aims to address the rampant issue of oil theft in the region. Communities traditionally relying on petrol, diesel, and kerosene sourced from artisanal refineries are now turning to solar energy. This shift is expected to reduce the demand for illegally refined products, thereby discouraging the activities of artisanal refiners who have been damaging pipelines to sell their wares.

    Through Alternative Livelihoods, YEAC-CEAD is poised to bring peace of mind to communities and youths involved in artisanal refining by offering alternative livelihood opportunities. The introduction of solar energy is set to create a peaceful environment conducive to business, free from the fear of security agency pursuits that currently plague the region.

    The economic implications of YEAC-CEAD are profound. Communities like Umuolu in Delta State, which have never known the convenience of electricity, are now witnessing a surge in business prospects. The project is eliminating the need for generators, reducing pollution, and enabling the establishment of cold storage facilities, which are particularly beneficial for communities that rely on fishing as a primary source of income.

    Read also: Young people must move with technological trends- Bosun Tijani

    The Impact on Local Festivals and Livelihoods 

    The biannual fishing festival in these communities, once marred by the loss of perishable catches, will now significantly reduce waste thanks to the new cold rooms powered by solar energy. This development not only preserves the local economy but also promotes environmental conservation.

    YEAC-CEAD is more than an energy project; it’s a catalyst for environmental, economic, and social transformation in the Niger Delta. By providing a stable, clean, and renewable energy source, YEAC-Nigeria is lighting up homes and igniting hope for a brighter, more prosperous future for the region’s communities. The project stands as a testament to the power of sustainable innovation in addressing some of the most pressing challenges society faces today.

  • Nigeria opens startup portal for tech innovators

    Nigeria opens startup portal for tech innovators

    The Nigeria Startup Portal is now live and open for labeling. This significant initiative is part of the Nigeria Startup Act (NSA 2022), which aims to foster the growth of startups and tech talent in Nigeria. It was recently Launched by Dr Bosun Tijani, the Minister of Communications, Innovation, and Digital Economy.

    If you’re part of the Nigerian startup ecosystem, don’t miss out. Visit the Nigeria Startup Portal and register today. After registration, check your email for a password reset link. Complete your profile to enhance your engagement and access additional features.

    Engage with fellow entrepreneurs, investors, and experts. Leverage the portal to discover funding opportunities, mentorship programs, and industry insights. Stand out by applying for the coveted Startup Label. Showcase your innovation and commitment to the Nigerian startup ecosystem.

    Read also: Nigeria turns to agri-food tech startups to boost food production

    The Nigeria Startup Portal serves as a central hub for identifying and uniting Nigerian startups, venture capitalists (VCs), angel investors, accelerators, incubators, and hubs. Its vision is to create a thriving ecosystem that supports innovation, entrepreneurship, and digital transformation.

    Who can register on the Nigeria Startup Portal?

    Entrepreneurs, investors, and ecosystem players can easily register on the Nigeria Startup Portal.

    By doing so, they become eligible for a range of statutory incentives, valuable resources, and exciting opportunities.

    Registered participants gain access to the Startup Consultative Forum. This forum provides a platform for discussions, knowledge sharing, and collaboration among stakeholders.

    Startups can apply for a Startup Label through the portal. Additionally, VCs, angels, accelerators, incubators, and hubs can be verified. The Startup Label signifies recognition and credibility within the ecosystem.

    Specific statutory incentives

    The Nigeria Startup Act (NSA 2022) introduces several statutory incentives aimed at promoting the growth of startups and encouraging investment in the Nigerian tech ecosystem. Here are some key incentives:

    The act provides tax credits of up to 30% of the investment for both local and foreign investors who invest in startups in Nigeria. This incentive aims to attract capital and stimulate investment in the startup sector.

    Foreign investors also benefit from the free repatriation of funds under the Nigeria Startup Act. This provision allows investors to transfer their investment returns abroad without restriction.

    Read also: Nigerian mobility startup, Moove secures $110 Million in Q1 2024

    Startups that meet the eligibility criteria can apply for a Startup Label through the Nigeria Startup Portal. The label signifies recognition within the ecosystem and may enhance startups’ credibility and visibility.

    The act establishes the National Council for Digital Innovation and Entrepreneurship. This council formulates policy guidelines, approves programs, and monitors implementation to create an enabling environment for startups.

    By fostering tech-related skills and positioning Nigeria as a digital technology hub, the act aims to boost local content development. This support includes initiatives to encourage research, innovation, and collaboration among universities and research institutions.

    In summary, the Nigeria Startup Act seeks to address challenges faced by startups, promote investment, and create a conducive environment for tech-based ventures in Nigeria. Entrepreneurs, investors, and ecosystem players can leverage these incentives to drive innovation and growth. 

  • SunCulture secures $27M funding to power water pumps in Africa

    SunCulture secures $27M funding to power water pumps in Africa

    In the heart of Africa, a revolution is taking place, transforming how smallholder farmers cultivate their land. SunCulture, a Nairobi-based startup, is at the forefront of this transformation, having secured a significant $27 million investment. 

    This funding round is not just about the money; it’s a powerful endorsement from some of the world’s most renowned innovators, including Netflix co-founder Reed Hastings and former Alphabet CEO Eric Schmidt.

    SunCulture’s mission is simple yet profound: to harness the abundant African sun to power small, efficient water pumps. These solar-powered pumps are more than just machinery; they are lifelines for the farmers who use them. By providing a sustainable alternative to diesel-powered pumps, SunCulture is boosting agricultural yields and championing environmental stewardship through the sale of carbon credits.

    Read also: Three African women using social media to provide tech education

    SunCulture Expanding through Africa

    With operations in Kenya, Uganda, and the Ivory Coast and distribution agreements stretching from Ethiopia to Togo, SunCulture is poised to make a continental impact. The company’s ambitious goal is to bridge the irrigation gap that leaves 96% of Africa’s smallholder farmers at the mercy of the weather. The 47,000 units sold so far are just the beginning.

    Reed Hastings’ investment is a testament to the potential he sees in SunCulture’s model. “SunCulture helps farmers grow more food,” he says, recognizing the startup’s role in fostering prosperity. With a vision to make solar irrigation 50% cheaper than fossil fuel alternatives, SunCulture’s CEO, Samir Ibrahim, is not just selling a product—he’s selling a brighter future for African agriculture.

    The recent Series B funding propels SunCulture’s total raised capital to $65 million, edging closer to their $219 million target. This target isn’t just a number; it represents the 274,000 systems SunCulture plans to install across Kenya, a move that could redefine the agricultural landscape.

    SunCulture is Beyond Irrigation 

    But SunCulture’s aspirations continue after irrigation. The company is expanding its horizons, running pilots across the continent and exploring additional farming services like soil testing and insurance. This holistic approach could usher in a new farming era in Africa, where technology and tradition merge to create sustainable prosperity.

    A circle of earlier investors, including EDF International SAS and DPI Energy Ventures, shares SunCulture’s confidence in its vision. Their continued support underscores their belief in SunCulture’s potential to be a game-changer in the agricultural sector.

    As SunCulture continues to grow, it stands as a beacon of innovation and sustainability. With the backing of global visionaries and a commitment to empowering farmers, SunCulture is not just changing how crops are grown; it’s changing lives, one solar panel at a time.

    About SunCulture’s business model

    SunCulture has developed an innovative business model tailored to address the needs of smallholder farmers in sub-Saharan Africa. Here’s an overview of their approach:

    Pay-As-You-Grow Financing: To make solar-powered irrigation affordable, SunCulture introduced the “Pay-As-You-Grow” model. This allows farmers to finance their purchases through small monthly instalments, making accessing modern climate technology and value-added services easier without a significant upfront cost.

    Read also: Tech Unite Africa showcases cutting-edge innovations, trends

    Comprehensive Product Packages: SunCulture’s product packages are designed to be all-inclusive, providing everything a farmer needs to get started. This includes consultation, installation services, training, and ongoing customer support. Their systems aim to increase crop yields by up to 300% and reduce water usage by 80%, all with the push of a button.

    Solar Technology and Services: The company uses off-grid solar technology to offer reliable access to water, irrigation, lighting, and mobile charging. Their systems are designed to be simple yet effective, catering to the daily challenges faced by smallholder farmers.

    By replacing expensive and environmentally harmful fuel pumps with efficient solar pumps, SunCulture contributes to environmental sustainability. The cost of their solar-powered water pumps is subsidised by the sale of carbon credits, which also promotes eco-friendly practices.

  • Nigerian mobility startup, Moove secures $110 Million in Q1 2024

    Nigerian mobility startup, Moove secures $110 Million in Q1 2024

    In a quarter marked by cautious investor sentiment, Nigerian mobility startup Moove has emerged as a beacon of success in Africa’s startup scene. The company secured a staggering $110 million, accounting for nearly a quarter of the continent’s total startup funding in Q1 2024.

    This includes a notable $100 million Series B round spearheaded by Uber, underscoring the ride-hailing giant’s confidence in Moove’s innovative business model.

    Funding Trends

    The first quarter of 2024 saw African startups attract $466 million in funding, a figure realized through 121 startups, each securing deals of over $100,000. However, this represents a 27% decline from the previous quarter and is only half of the amount raised in the same period last year. Despite the downturn, Moove’s record-breaking deals have shone a spotlight on the resilience and potential of African enterprises.

    Read also: Nigeria turns to agri-food tech startups to boost food production

    Transport & Logistics Take the Lead

    The transport and logistics sector claimed the top spot in funding, significantly bolstered by Moove’s achievements. The company’s deals alone constitute nearly three-quarters of the sector’s total funding, followed by fintech. Notably, for deals over $100,000, fintech led the way, with agriculture and food coming in second. ClimateTech, spanning multiple sectors, also made a significant impact, representing 31% of these deals and 27% of the total invested amount.

    The Funding Composition

    Equity continues to be the predominant form of disclosed funding, making up 71% of the total, while debt accounts for the remaining 29%. Although equity funding remained stable quarter-over-quarter, the disclosed debt funding saw a significant reduction, halving from the last quarter of 2023 to Q1 2024.

    An analysis of the funding landscape reveals a persistent gender gap, with less than 1% of funding allocated to startups without at least one male founder. Furthermore, only 6.5% of the total funding went to female CEOs, highlighting the need for greater inclusivity and diversity in the startup ecosystem.

    Exits and Acquisitions

    The quarter also witnessed seven exits, including significant acquisitions such as HRtech PaySpace’s acquisition by Deel and fintech nCino’s purchase of DocFox, both in South Africa. These exits are indicative of a maturing market and provide a promising outlook for future investments and growth in the region.

    As African startups navigate a challenging funding environment, success stories like Moove’s serve as a testament to the innovation and entrepreneurial spirit that thrives on the continent. With strategic partnerships and a focus on sectors with high growth potential, African startups are poised to continue making their mark on the global stage.

    Read also: Sprints $3 million bridge round fuels expansion

    Other successful startups in Q1 2024

    In Q1 2024, apart from Moove, several other startups in Africa experienced success. While specific funding amounts for individual startups beyond Moove are not detailed, the sectors that attracted significant funding include:

    Fintech: This sector continued to attract considerable attention, with startups securing substantial investments.

    Agriculture & Food: Startups in this sector also raised notable amounts, reflecting the growing emphasis on food security and sustainable agriculture.

    ClimateTech: Cutting across multiple sectors, ClimateTech startups represented a significant portion of the deals, highlighting the increasing focus on sustainability and climate change solutions.

    The countries that led in startup funding were Nigeria, Kenya, South Africa, and Egypt, often referred to as the “Big Four” of African startup ecosystems. These countries continue to be the primary destinations for venture capital in the region.

  • Ghanaian startup acquires Waffle software-as-a-service (SaaS) provider

    Ghanaian startup acquires Waffle software-as-a-service (SaaS) provider

    In a groundbreaking development that promises to reshape the digital healthcare landscape in Ghana, Rivia, a dynamic health tech startup, has made a strategic leap by acquiring Waffle, a well-established software-as-a-service (SaaS) provider. 

    The move is poised to revolutionise primary care clinics, empower small and medium-sized businesses (SMEs), and enhance patient experiences nationwide.

    The Unconventional Union

    While mergers and acquisitions are commonplace in business, the Rivia-Waffle partnership stands out for its audacity and vision. Rivia, founded just three months ago, has swiftly positioned itself as a disruptor in the healthcare sector. To achieve what? Using technology, creativity, and collaboration to democratise great healthcare.

    Read also: Ghana boosts digital skills, distributes 1.3 million free tablets

    On the other hand, Waffle had been quietly making waves in the SaaS arena for over a year. Its tools catered to SMEs, streamlining operations, inventory management, and customer engagement. But when Rivia came knocking, Waffle’s founder, Victor Nara, recognized an opportunity to amplify their impact.

    From Waffle to RiviaOS

    The acquisition was more than a mere business transaction; it was a marriage of purpose. Waffle’s hospital management and inventory tools have now been rebranded as RiviaOS. This new platform, powered by Waffle’s robust technology, offers a comprehensive Healthcare-as-a-Service (HaaS) solution.

    Critical components may include:

    RiviaOS Clinic Management Suite: RiviaOS equips primary care clinics with digital tools. From appointment scheduling to e-pharmacy services, clinics can now streamline their operations seamlessly. Gone are the days of manual record-keeping; RiviaOS digitises patient data, ensuring accuracy and accessibility.

    AI-Driven Health Diagnosis: Imagine a patient entering a clinic, greeted by a warm smile and an AI-powered diagnostic tool. RiviaOS integrates artificial intelligence to assist healthcare professionals in preliminary assessments. While it doesn’t replace human expertise, it augments decision-making by analysing symptoms, suggesting potential diagnoses, and recommending further tests.

    Co-Branding: A Win-Win Proposition: Rivia’s unique approach involves partnering with clinics rather than merely serving them. Under the co-branding model, clinics become Rivia’s allies. They benefit from Rivia’s marketing muscle, financing support, and technology infrastructure. Rivia receives a commission based on the clinics’ generated revenue each month. It’s a symbiotic relationship that fosters growth and mutual success.

    Victor Nara, the visionary behind Waffle, now assumes the role of Chief Technology Officer at Rivia. His software services expertise and commitment to innovation align seamlessly with Rivia’s mission. Nara’s transition from Waffle’s helm to Rivia’s tech engine exemplifies the spirit of collaboration and shared purpose.

    Read also: Village Capital, Moody’s Foundation unveils Greentech 2024

    The Ghanaian Healthcare Renaissance

    Ghana’s healthcare landscape is undergoing a digital renaissance. The adoption of digital health solutions is on the rise, fueled by a tech-savvy population and a growing awareness of preventive care. The market is projected to reach a revenue of $171 million in 2024, with segments like fitness and well-being leading the charge. Rivia’s bold move positions it at the forefront of this transformation.

    While Rivia’s roots are firmly planted in Ghana, its ambitions extend beyond national boundaries. With Waffle’s technology as its backbone, Rivia aims to expand regionally and eventually venture into other African markets. The dream? To create a pan-African healthcare ecosystem that bridges gaps empowers communities, and saves lives.

    As the sun sets over Accra, Rivia’s founders reflect on their journey. They know the road ahead is challenging, but they carry the torch of innovation. RiviaOS, powered by Waffle’s legacy, is more than a product; it promises to transform healthcare—one clinic, one patient, and one byte at a time.

  • Nigeria unveils plans for AI Innovation

    Nigeria unveils plans for AI Innovation

    Nigeria’s Federal Government has unveiled its ambitious plan to propel the nation into the forefront of artificial intelligence (AI) innovation through startups, stakeholders collaboration.

    The announcement, made recently by Bosun Tijani, Minister of Communications, Innovation, and Digital Economy, signals a pivotal moment in Nigeria’s journey toward harnessing the transformative power of AI.

    Tijani, a staunch advocate for technology-driven progress, revealed the government’s commitment to enhancing lives and bolstering the economy through AI. Speaking via his official X account, he emphasised the need for a robust AI framework that aligns with Nigeria’s unique challenges and aspirations.

    Read also:  Apple plans to add Gemini AI to Iphone

    The National Artificial Intelligence Strategy Workshop

    Mark your calendars for April 15th to 18th, 2024, as Abuja prepares to host the National Artificial Intelligence Strategy Workshop. This high-profile event will bring together a dynamic ensemble of AI researchers, startups, and stakeholders—approximately 120 strong—to chart a course for Nigeria’s AI future.

    While government initiatives lay the groundwork, it is the startups that infuse innovation into the ecosystem. Here’s how they feature prominently in this unfolding narrative:

    Collaboration and Synergy: Startups, often nimble and agile, are uniquely positioned to drive change. Their hunger for disruption and their ability to pivot swiftly make them ideal partners in shaping Nigeria’s AI landscape. At the workshop, these startups will collaborate with researchers, sharing insights, challenges, and breakthroughs. Together, they will forge a cohesive system that transcends silos and fosters cross-pollination of ideas.

    From Code to Impact: Nigerian startups have already demonstrated their mettle in AI. From predictive analytics for agriculture to personalised healthcare solutions, they’ve harnessed AI’s potential to address pressing societal needs. Now, with the government’s backing, they can amplify their impact. Imagine AI-powered tools that optimise crop yields, predict disease outbreaks, and enhance educational outcomes. These startups are not merely coding; they’re scripting Nigeria’s future.

    Luminate’s Support: Behind the scenes, global firm Luminate plays a pivotal role. Their commitment to driving transregional change aligns seamlessly with Nigeria’s aspirations. Luminate’s expertise, resources, and network will catalyse the workshop’s outcomes. As startups engage in ideation, Luminate provides the canvas—a canvas that extends beyond borders, connecting Nigeria to a global AI community.

    Tijani’s Vision: A Comprehensive AI Strategy

    Minister Tijani’s resolve is unwavering. His tenure began with a mission: to craft a comprehensive AI strategy for Nigeria. His words echo through the corridors of innovation: “AI offers us the opportunity to solve complex challenges—whether in education, agriculture, or healthcare. We must harness this potential for our nation’s growth.”

    Nigeria’s diaspora, a wellspring of talent, plays a crucial role. Researchers of Nigerian descent, scattered across the globe, contribute significantly to AI advancements. The government’s proactive outreach to these luminaries underscores its commitment. By engaging leading researchers, Nigeria bridges geographical gaps and taps into a reservoir of expertise.

    Read also: Google’s Gemini to power iPhone AI features

    The Road Ahead

    As the sun sets over Abuja, the workshop participants will delve into discussions, debates, and blueprints. They’ll envision an AI-powered Nigeria—one where precision medicine diagnoses ailments, where smart agriculture feeds the nation, and where education transcends boundaries. It’s a vision that transcends politics and transcends time.

    In this renaissance, startups emerge as torchbearers. Their code becomes poetry, their algorithms the brushstrokes on Nigeria’s canvas. Together, they’ll script a saga of progress—one that resonates far beyond the workshop walls.

  • FCMB Inaugurates food technology startup

    FCMB Inaugurates food technology startup

    First City Monument Bank (FCMB) has reaffirmed its commitment to sustainable manufacturing practices that minimise negative environmental impact while conserving energy and natural resources. 

    This commitment was recently exemplified through the inauguration of the state-of-the-art dried fruit manufacturing plant of Nature’s Bounty Health Products Limited, a Nigerian food technology startup.

    Empowering Local Communities and Protecting Farmers

    Nature’s Bounty Health Products Limited, trading under the brand name ReelFruit, has been at the forefront of transforming abundant local fruits such as mangoes, coconuts, and cashews into healthy snacks. By doing so, they prevent post-harvest wastage and protect farmers from revenue loss. The company’s purpose-driven approach focuses on social impact and supporting underserved communities.

    Read also: FCMB wins excellence in FinTech award at Finnovex summit

    The newly inaugurated 800-metric-ton manufacturing plant in Abeokuta marks a significant milestone for Nature’s Bounty Health Products. Previously producing 6 metric tons of dried fruit products monthly, the expanded capacity now allows them to increase production to an impressive 30 metric tons per month. This boost in output not only meets growing consumer demand but also creates over 200 jobs in the local community.

    A Positive Symbol for Nigeria’s Business Landscape

    Affiong Williams, Founder and CEO of Nature’s Bounty Health Products, expressed her unwavering belief in Nigeria’s agricultural and manufacturing potential. “This facility is more than just bricks and mortar,” she stated. “It embodies our commitment to ‘Made in Nigeria’ products, sustainable practices, and large-scale impact. With this factory, we are not only serving customers nationwide but also exporting our products globally. We are creating jobs, supporting farmers, and proving that business success can align with positive social and environmental outcomes.”

    FCMB’s Vision of a Sustainable and Inclusive Nigeria

    Mrs. Yemisi Edun, Managing Director of First City Monument Bank, emphasised FCMB’s unwavering support for businesses that share their vision of a sustainable and inclusive Nigeria. “Nature’s Bounty Health Products and its brand ReelFruit exemplify the kind of partnership that drives positive change,” she said. “By financing this manufacturing plant, FCMB contributes to job creation, economic growth, and environmental stewardship. Together, we are building a brighter future for Nigeria’s business landscape—one that benefits both people and the planet.”

    As the dried fruit industry continues to thrive, Nature’s Bounty Health Products and FCMB stand as champions of sustainable manufacturing, proving that business success and environmental responsibility can go hand in hand.

    About Nature’s Bounty Health Products

    Nature’s Bounty Health Products Limited, trading under the brand name ReelFruit, is a purpose-driven Nigerian food technology startup that has captured hearts and taste buds alike. Let’s delve into the juicy details of this remarkable venture.

    Read also: Nigerian banks earn N192 billion in digital transactions

    Nature’s Bounty Health Products is on a mission to transform abundant local fruits—think mangoes, coconuts, and cashews—into wholesome snacks. By doing so, they tackle two critical challenges: post-harvest wastage and farmer revenue loss. Their commitment to sustainability and social impact sets them apart.

    Nature’s Bounty Health Products’ recent inauguration of an impressive 800-metric-ton dried fruit manufacturing plant in Abeokuta, Ogun State, Financed by First City Monument Bank (FCMB), signifies their dedication to large-scale production and environmental responsibility.

    Affiong Williams, Founder and CEO of Nature’s Bounty Health Products, sees beyond the factory walls. “This facility is more than just bricks and mortar,” she declares. “It embodies my unwavering belief in Nigeria’s agricultural and manufacturing potential. With this factory, we are scaling our dried fruit production to serve customers nationwide, export ‘Made in Nigeria’ products globally, and transform agribusiness. We are creating jobs, supporting farmers, and proving that large-scale impact is achievable. This facility is a positive symbol for Nigeria’s business landscape for generations to come.”

  • Kenyan BasiGo secures $3M Investment fund from CFAO Group

    Kenyan BasiGo secures $3M Investment fund from CFAO Group

    In a significant stride towards sustainable transportation, BasiGo, a Kenyan e-mobility startup, has garnered a substantial USD 3 million equity investment.

    This financial backing comes from the CFAO Group, a prominent entity in the African mobility and infrastructure sector, and is fully supported by Toyota Tsusho Corporation of Japan.

    The investment is a collaborative effort between CFAO Kenya and Mobility54, CFAO’s corporate venture capital wing. This infusion of funds is earmarked for the expansion of BasiGo’s operations, specifically the manufacturing and distribution of electric buses within Kenya and Rwanda.

    Read also: Kenyan electric bus manufacturer BasiGo expands to Rwanda

    BasiGo’s Innovative Approach

    BasiGo is not just another electric vehicle manufacturer; it stands out with its unique business model. The company offers a comprehensive package that includes state-of-the-art electric buses, along with essential charging and maintenance services. This is made financially accessible through an innovative pay-as-you-go financing model, which allows bus operators to pay for the battery and charging services separately from the bus purchase, easing the financial burden and fostering adoption.

    At the core of BasiGo’s strategy is the pay-as-you-drive financing model. This approach is revolutionary in enabling bus operators to acquire electric buses without the deterrent of high initial costs. It’s a game-changer for the public transport sector, making the switch to electric vehicles a viable and attractive option.

    Impact on Local and Regional Transport 

    The implications of this investment and BasiGo’s business model are far-reaching. By facilitating the transition to electric buses, BasiGo is setting the stage for a cleaner, more sustainable future in public transportation. The environmental benefits are clear, with a significant reduction in carbon emissions and a move from reliance on fossil fuels.

    With this new round of funding, BasiGo is poised to accelerate its mission of electrifying public transport in Africa. The company’s vision extends beyond immediate financial gains, aiming to establish a green legacy that will resonate with future generations and contribute to the global fight against climate change.

    BasiGo’s recent financial boost is more than just a monetary win; it’s a testament to the growing recognition of the importance of sustainable business practices. As BasiGo continues to expand its reach and impact, it serves as a beacon of innovation and environmental stewardship in Africa and beyond.

    How BasiGo addressing charging infrastructure challenges

    BasiGo is tackling the charging infrastructure challenges by implementing a strategic approach that includes:

    Charging Depots Along Bus Routes: BasiGo has established charging depots conveniently located along existing bus routes. It ensures that electric buses can be recharged every night, making the process seamless for operators.

    Read also: Schneider Electric Kenya makes Odoh, Country President

    Rapid Charging Capability: The electric buses provided by BasiGo are designed to recharge in less than 4 hours, which allows for efficient turnaround times and ensures that the buses can be ready for operation each day.

    Multiple Charging Sites: BasiGo has expanded its charging infrastructure to include multiple charging sites. For instance, they have operational charging stations in Embakasi, Kikuyu, and BuruBuru, which can charge over 20 electric buses.

    Pay-As-You-Drive Financing Model: This model includes the cost of charging within the financing arrangement, which helps bus operators manage the operational costs associated with electric buses.

    By addressing these key areas, BasiGo is creating a supportive ecosystem for adopting electric buses, ensuring that the necessary infrastructure is in place to support their operation and maintenance.

  • Kenyan digital commerce startupTappi sets sights on Ivory Coast

    Kenyan digital commerce startupTappi sets sights on Ivory Coast

    In a bold expansion strategy, the Kenyan digital commerce startupTappi has set its sights on the burgeoning market of the Ivory Coast. This move is a business decision and a transformative step for the region’s micro, small, and medium-sized enterprises (MSMEs).

    Founded by visionaries Kenfield Griffith and Louis Majanja, Tappi has revolutionised how small businesses approach online marketing. With affordable plans starting at $8 a month, Tappi has democratised digital advertising, enabling over 150,000 businesses to establish a robust online presence swiftly.

    Read also: Kenya unveils ‘Let’s Go to Kenya’ digital media campaign

    A Partnership with Potential

    Tappi’s partnership with MTN, a telecom giant with over 15 million users in the Ivory Coast, is a game-changer. This collaboration offers MSMEs unparalleled access to enterprise-grade tools, integrating them into MTN’s data bundles and facilitating a seamless digital transition. 

    The startup’s impressive growth trajectory, marked by a 19% month-on-month increase, has garnered investors’ confidence, leading to a successful $1.5 million pre-seed funding round. This financial boost, led by Mercy Corps Ventures and Chui Ventures, underscores the market’s belief in Tappi’s potential.

    A Catalyst for Job Creation

    According to a World Bank report, MSMEs are the backbone of Africa’s employment, accounting for 60% of jobs. Tappi’s entry into the Ivory Coast is poised to catalyse job creation by equipping businesses with the tools to thrive in the digital economy.

    Tappi’s expansion into the Ivory Coast marks the dawn of a new era for digital commerce in Francophone Africa. With a robust GDP growth rate and a vast consumer base, the region is ripe for digital transformation. Tappi’s innovative approach and strategic partnerships are set to empower MSMEs, driving economic growth and fostering a digitally inclusive future.

    How Tappi tailor its services to different business sizes

    Tappi tailors its services to different business sizes by offering a scalable and user-friendly platform that caters to the unique needs of micro, small, and medium-sized enterprises (MSMEs). Here’s how Tappi adapts its offerings:

    Affordable Subscription Model: Tappi provides a low-cost subscription model, starting at just $8 per month, making it accessible for businesses of all sizes1.

    Simple Website Creation: The platform allows businesses to create simple, SEO-optimised websites in under 2 minutes, ideal for small businesses looking to establish an online presence quickly.

    Customizable Digital Ads: Tappi offers tools that enable businesses to optimise their presence on platforms like Facebook and Google ads, which can be tailored to the size and scope of the business.

    Enterprise-Grade Tools: Through partnerships with telecom companies like MTN, Tappi provides MSMEs access to enterprise-grade tools via integrated data bundles, ensuring that even the smallest businesses can benefit from high-quality digital services.

    By providing these flexible and adaptable services, Tappi ensures businesses of varying sizes can leverage digital marketing tools to grow their customer base and online visibility.

    Read also: Egypt launches AgriTech4Egypt to nurture startups

    Other markets startupTappi is eyeing expansion

    Tappi’s expansion plans are ambitious, with the startup looking to address similar challenges SMEs face across different regions. While specific new markets have not been detailed in the available information, the startup’s rapid growth in Kenya and Nigeria and its recent move into the Ivory Coast suggest a strategic approach to expansion in markets with vibrant entrepreneurial ecosystems and potential for digital growth among SMEs. The focus on partnering with companies like MTN indicates that Tappi may continue to target markets where such collaborations can facilitate their entry and growth.

  • Sprints $3 million bridge round fuels expansion

    Sprints $3 million bridge round fuels expansion

    Sprints, a visionary startup from Egypt, is making waves with its recent acquisition of a $3 million bridge round. This significant financial boost, spearheaded by Disruptech Ventures and supported by EdVentures and CFYE, marks a pivotal moment for Sprints as it sets its sights on expanding into ten new markets.

    Launched in 2020 by the entrepreneurial duo Ayman Bazaraa and Bassam Sharkawy, Sprints emerged with a clear objective: to address the burgeoning tech talent gap in the Middle East and Africa (MEA). The startup’s innovative approach involves a guaranteed hiring program, ensuring that the talent nurtured is not only qualified but also readily employable.

    At the heart of Sprints’ success is its dedicated team, described by CEO Ayman Bazaraa as the “beating heart of this success.” The team, comprising over 100 employees and 300 trainers from 12 countries, is united by a shared mission to revolutionise education through AI. Bazaraa’s pride in his team’s accomplishments is palpable, and he looks forward to the future with great anticipation.

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    Sprints Redefining Educational Paradigms

    Sprints stand out as an AI-powered edtech platform that is redefining educational paradigms for the future. It boasts the distinction of being the first end-to-end platform in the MEA region to offer a comprehensive solution to the tech talent gap, encompassing talent assessment, customised learning journeys, and a top-paying job guarantee.

    The company’s commitment to making education accessible is evident in its unique offering of guaranteed hiring programs. These programs enable graduates to defer payment until they secure employment, thereby reducing the financial barriers to quality education.

    Impressive Milestones

    Since its inception, Sprints has achieved impressive milestones, delivering over 2.5 million learning hours and facilitating employment for graduates through partnerships with over 300 tech employers globally.

    Sprints harbours an ambitious mission to educate 1 billion learners within the next decade. By providing world-class, agile-based learning journeys, the company aims to empower organisations to assemble top-tier tech teams across various domains, including AI, data science, mobile development, web technology, IoT, cloud computing, and cybersecurity.

    The startup’s efforts contribute to a core economic and social cause, shaping a generation of digitally adept citizens equipped to excel in the future job market.

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    Expansion and Recognition

    Investors like Yehia Abouelwafa, co-founder and chief investment officer at Disruptech Ventures, have enthusiastically welcomed the successful closure of the funding round. He commends Sprints for its integrated tech talent platform, which streamlines talent assessment, hiring, payroll, and upskilling, thereby enabling the efficient building of world-class teams.

    Sprints has not only garnered an average program rating of 4.8 but has also delivered over 52,000 learning experiences in collaboration with governments and key UN organisations. Its international acclaim includes recognition from Africa’s Business Heroes, GSV, and Holon IQ.

    A Strategic Leap Forward

    This strategic bridge round is set to fortify Sprints’ growth trajectory, doubling down on its impact on the tech talent landscape and positioning the MEA region as a hub of regional talent. The expansion into new markets is a testament to Sprints’ commitment to bridging the regional talent gap and fostering a global community of tech-savvy professionals.