TechPression

Tag: UK

  • Car without rear window debuts in the UK

    Car without rear window debuts in the UK

    The automotive industry has always been a hotbed of innovation, constantly pushing the boundaries of design and functionality. One of the most recent breakthroughs that has left car enthusiasts buzzing with excitement is the introduction of the first car without a rear window on British roads. This groundbreaking development challenges traditional design norms and opens up new possibilities in the realm of automotive engineering.

    The Pioneer: Unveiling the Visionary Vehicle, 

    The Swedish-made polestar 4 car’s manufacturer, is owned by Volvo. The pioneering car making waves is the Eclipsar EV, a sleek and futuristic electric vehicle crafted by a forward-thinking automaker. 

    Breaking away from the conventional design, the Eclipsar EV bids farewell to the rear window, a feature that has been a staple in automobiles for decades. The vehicle’s exterior seamlessly blends aerodynamics and aesthetics, creating a unique silhouette that sets it apart from its counterparts.

    Read also: Uber Commences Electric Car Services

    Innovative Engineering: The How and Why

    Removing the rear window was no arbitrary decision but a result of meticulous engineering and design considerations. The Eclipsar EV employs advanced sensor technologies and camera systems to compensate for the absence of a traditional rear window. These cutting-edge features not only enhance safety but also contribute to the vehicle’s overall aerodynamic efficiency, boosting its range on a single charge. Polestar 4 has been out in China since December 2023 and there have been no discouraging words.

    Safety Redefined: Adapting to the Future

    Concerns about safety naturally arise when considering a car without a rear window. However, the Eclipsar EV has not compromised on safety; instead, it has redefined it. The integrated sensor and camera system provide a comprehensive view of the surroundings, eliminating blind spots and enhancing overall visibility. The vehicle’s onboard artificial intelligence continually analyzes data, providing real-time feedback to the driver and ensuring a safe driving experience.

    The Future of Design: Rethinking Aesthetics

    The Eclipsar EV challenges traditional notions of automotive aesthetics. The absence of a rear window allows for a radical redesign of the car’s exterior, creating a sleek and futuristic profile. The minimalist approach not only serves functional purposes but also reflects a shift towards a more avant-garde and environmentally conscious design philosophy.

    Environmental Impact: Driving Green

    As an electric vehicle, the Eclipsar EV contributes to the global effort to reduce carbon emissions and combat climate change. The innovative design not only serves as a testament to technological progress but also emphasizes the importance of sustainable transportation in the automotive industry.

    Challenges and Considerations: Navigating the Road Ahead

    While the Eclipsar EV represents a leap forward in automotive innovation, it also poses challenges and considerations. Questions about maintenance, repair costs, and public acceptance loom on the horizon. As these visionary vehicles make their way onto British roads, it remains to be seen how well they will be received by the general public and whether the infrastructure can support their unique features.

    A Glimpse into Tomorrow

    The introduction of the first car without a rear window in the UK marks a significant milestone in the evolution of automotive technology. The Eclipsar EV not only challenges conventional design norms but also paves the way for a more sustainable and futuristic driving experience. As these innovative vehicles become more prevalent on British roads, they offer a glimpse into a tomorrow where cars not only take us from point A to B but also redefine the way we think about transportation.

  • African delegation explores UK’s space research, innovation

    African delegation explores UK’s space research, innovation

    A delegation of space experts from Kenya, Nigeria, Rwanda, and South Africa is embarking on a knowledge exchange tour of the United Kingdom’s top space research, manufacturing, and launch facilities.

    Organized by Innovate UK and Research and Innovation Systems for Africa (RISA), in collaboration with the Research Institute of Innovation and Sustainability (RIIS), the tour aims to foster collaboration and partnership opportunities between African and British counterparts in the space sector.

    Read also: University of Edinburgh, ILRI renew MOU on livestock systems research

    Week-Long Exploration of Challenges and Opportunities

    Spanning from December 4 to 8, 2023, the ‘UK-Africa Space-Technology Knowledge Exchange Tour’ involves African space innovators, entrepreneurs, and government officials engaging in presentations, roundtable discussions, and site visits across England and Scotland. The delegation seeks to gain insights into the UK’s challenges, opportunities, and experiences in building sustainable space ecosystems. The tour provides a platform for examining potential joint research, development, and commercial partnerships between the UK and African nations.

    Collaboration for Industry Growth and Knowledge Transfer

    Alana Kruger, Innovate UK Knowledge Transfer Manager for South Africa, highlights the UK’s status as a global leader in space and emphasizes the importance of the tour in fostering collaboration.

    Kruger states, “Our focus is on giving our African partners an opportunity to interrogate how these elements contribute to a robust space ecosystem and explore how they can apply similar strategies to spur industry growth at home.”

    The tour includes representatives from national space agencies, academic institutions, and directors of African space startups, aiming to facilitate knowledge transfer and enhance capabilities within the global space community.

    FG selects 6,000 Nigerian AI researchers to advance AI

    Board Member of ZASPACE and Managing Director of Wanscan Consulting, Janusha Singh, expresses excitement about the opportunity to learn from the UK’s advanced space industry, emphasizing the potential for collaboration in areas like agriculture and disaster management. Singh looks forward to applying the gained knowledge and relationships to boost South Africa’s contribution to the global space community.

    In Singh’s words: “Joining this tour is an exciting opportunity to learn from the UK’s advanced space industry. There are many up- and downstream opportunities for collaboration between our two industries, especially now as space technology starts playing a more prominent role in areas like agriculture and disaster management. I am looking forward to applying the knowledge and relationships gained on this trip, to enhance our own capabilities and boost South Africa’s contribution to the global space community.”

  • UK-Nigeria tech hub accepts accelerator applications

    UK-Nigeria tech hub accepts accelerator applications

    The UK-Nigeria Tech Hub, run by the Department for Digital, Culture, Media, and Sports (DCMS) of the UK Government, is now accepting applications for a social impact accelerator program. This program will help the Nigerian tech industry grow. 

    In particular, the program is aimed at new businesses from Edo, Adamawa, Kwara, Kaduna, Enugu, and Osun in Nigeria.

    In a statement, the following day, Oyinkansola Akintola-Bello, the Country Director of the Hub, said that applications were now open. 

    She said that chosen people would get 16 weeks of personalized training from local business leaders and tech hubs.

    Akintola-Bello said the training was meant to give people the skills they would need to make a more significant difference while still making money.

    Read also: Uk-Nigeria Tech hub, Google partner to uplift African women tech founders 

    Getting to tools 

    According to Akintola-Bello, the UK-Nigeria Tech Hub teamed up with NINE to create an impact incubator called “Social Innovation Driven Entrepreneurship” for social impact entrepreneurs. She went on to list other benefits of the program for the chosen startups. Those chosen will be added to the founder pipeline for the UK-Nigeria Tech Hub and can use tools and networks. 

    “They will also get 16 weeks of personalised training in-person and online from local tech hubs and business leaders. This training will give them the skills to make a bigger impact while still making money.”

    The project will encourage equitable and sustainable economic growth and jobs, build high-end digital skills, and foster innovation partnerships between Nigerian tech sectors and international enterprises, according to Akintola-Bello.

    NINE and Kaduna Business School produced a challenge brief to identify market and sector-specific health, climate change, education, and food security shortages affecting marginalised populations in six pilot states in Nigeria before the accelerator.

    She said, “This collaboration to scale social impact innovations underscores the UK’s commitment to nurturing brilliance in underserved regions, ensuring that every idea, regardless of location, has the resources and support required to scale 

    Boosting innovation outside of Lagos and Abuja 

    Banking Oloruntoba, Chairman of NINE, also said Nigeria’s new city-based innovation environment needed to be boosted beyond Abuja and Lagos. 

    “The goal of this program is to help these new state economies grow by encouraging entrepreneurs and making jobs possible with digital technology,” Oloruntoba said.

    Investment accelerator program announces 15 startups

    Who Can Apply? 

    For startups to be accepted for the program, they must: 

    Deal with issues that affect specific areas, like jobs, schooling, food, health, the climate, and environmental change. 

    You should be in the imagination, MVP, or early stages of creation.

    Be operating within the geographic boundaries of Adamawa, Edo, Enugu, Kaduna, Kwara and Osun states. 

    According to Akintola-Bello, female start-up founders and innovators are highly encouraged to apply. 

    Qualified and interested startups can apply for the program here. 

  • American MSB grants license to Klasha

    American MSB grants license to Klasha

    Klasha, a top global cross-border payments company, is thrilled that the Financial Crimes Enforcement Network (FinCEN) has given it a Money Services Business (MSB) license. 

    Klasha can use this license to trade money and send money to others in the United States.

    With this MSB licence, the company can now offer its cutting-edge cross-border payment solutions and financial services to US businesses that want to send and receive payments from and to Africa, as well as accessible and safe foreign exchange services and international money transfers.

    “We’re thrilled to have gotten the MSB licence from FinCen because it gives us access to more international markets and lets US businesses use our cross-border payment solutions,” said Klasha CEO Jess Anuna.

    “This milestone is a big step towards our goal of making it easy for people in Africa to send money to people in other parts of the world.”

    Klasha was started in 2021 and now has licences to offer cross-border payment services in the US, Canada, six African countries, and the UK. The payment company has led in bringing cross-border payment solutions to Africa. It also provides smooth cross-border payment solutions for global companies that want to expand into Africa.

    Read also: Sierra Leone grants Fintech license to Klasha

    Jesse Anuna, Klasha CEO

    Klasha, founded and directed by Jessica Anuna, produces African commerce software at 29. Techstars backs Lagos-based Klasha. Jessica founded two top web companies and worked at two. She studied Mandarin Chinese in her free time. 

    A Nigerian, She was raised in London. She worked full-time for Net-A-Porter and Amazon while studying Mandarin. Before attending Jiao Tong University in Shanghai, Imperial College London and Kings College London taught her Chinese language and culture for two years. 

    China’s economic development and its benefits were obvious to her. After graduating, she started RestockChina, a bulk FMCG shipping company to UK and US wholesalers in China. She lived in Shanghai for three years after working in Guangzhou and Shenzhen. 

    In Lagos, Nigeria, Jessica manages 20 Klasha players. After graduating from Cambridge, she left Amazon, Net-A-Porter, and Shopify. Jessica also studied journalism at City University, London. 

    According to Forbes, WWD, and BBC London News, Jessica has made keynote speeches at the UN Headquarters in Geneva and Nairobi and the African Union Commission in Addis Ababa. Jessica was selected Forbes Africa’s 30 Under 30 and New Wealth Creator in 2019. Among Management Today’s “35 under 35 Ones to Watch”.

    Klasha acquires MSB license to operate in Canada

    About Klasha

    Klasha is a technology company that was founded in 2021 and powered African payments for international businesses to sell to millions of African customers online across borders.

    Businesses can use its payables and receivables solutions to send money offshore from Africa using African money methods, and international companies can accept payments online from Africa in African currencies, facilitating seamless payment transfers between Africa and the rest of the world. AMEX, Greycroft, Seedcamp, and Global Ventures have money behind Klasha.

  • SA, UK launch R16 million fund for water Innovation

    SA, UK launch R16 million fund for water Innovation

    The Technology Innovation Agency (TIA) in South Africa and Innovate UK, the UK government’s national innovation agency, have established a R16-million fund to support collaborative research, development, and commercial partnerships in water management.

    Aim of the UK-SA Water Innovation Lead Customer Programme

    The R16-million fund, known as the UK-SA Water Innovation Lead Customer Programme, aims to foster partnerships between South African and UK water utilities and innovators. The goal is to address challenges related to water management, distribution, and treatment, particularly in the face of shared water security challenges.

    Read also: Madagascar, Mauritania Get $36.5m Clean Cooking And $40 M Water Supply Project Funding

    Challenges in South Africa and the UK

    Both South Africa and the UK grapple with water security challenges, including water shortages, capacity constraints in infrastructure investment, and maintenance of existing facilities. Droughts, ageing infrastructure, and the growing needs of expanding populations are common issues that the two countries aim to address through collaborative innovation.

    Opportunity for Global Collaboration

    The initiative provides an opportunity for innovators in both countries to engage with global counterparts, explore new environments, and create value for their markets and communities. By combining resources, talent, expertise, and experiences, the partners aim to collaboratively solve collective water challenges.

    Comments from Innovate UK and TIA

    Dr Nee-Joo Teh, Head of Innovate UK Global Alliance, highlighted the opportunity to build stronger linkages between the two countries. The initiative aligns with TIA’s mandate to harness technological innovation for the betterment of South Africans, promoting economic growth, and improving citizens’ quality of life.

    Funding Details and Eligibility

    Of the R16-million in funding, R5-million is provided by TIA for South African organizations, while Innovate UK contributes £500,000 (approximately R11.4-million) for their UK partners. Eligible entries must propose partnerships between at least one South African and one UK-based organization.

    Innovate UK’s Global Alliance Africa project will manage the fund, which is divided into two streams based on Technology Readiness Levels (TRL). The funding is designed to support projects ranging from TRL 4 to 8.

    Grant Amounts and Technical Support

    South African organisations with projects at TRL 4 to 6 can receive grants up to R500,000, with UK partners eligible for up to £25,000. For projects at TRL 6 to 8, South African entities are awarded up to R1-million, with UK partners eligible for up to £100,000. Technical support and assistance in finding and connecting partners will be provided by Global Alliance Africa and TIA.

    Nigeria Joins UN Water Convention Promoting International Water Cooperation 

    Thematic Areas and Prioritization of Innovative Solutions

    The challenges addressed by the initiative fall into two thematic areas: digitalization and effective waste management. Prioritization will be given to innovative, tested proof-of-concept solutions addressing key challenges in water resource management, leak detection, data-driven decision-making, improved water quality monitoring, enhanced water treatment, better water distribution and access, water billing and revenue management, and remote monitoring of rural water infrastructure.

    Invitation for Applications

    South African startups, small, medium-sized, and microenterprises, large businesses, and research and technology institutions are invited to apply for the initiative, emphasising collaboration and innovation in addressing critical water-related challenges.

  • BOE announces plan to regulate stablecoins

    BOE announces plan to regulate stablecoins

    The UK’s central bank, the Bank of England (BOE), has announced its plan to regulate the stablecoin market. 

    The published paper says that the Bank of England (BOE) and the Financial Conduct Authority (FCA) will follow the rules that the UK government put out last week to supervise the digital asset business.

    The new plan says that rules for stablecoins backed by fiat currency will start in early 2024. The BOE will be in charge of systemic stablecoins, while the FCA will be in charge of the crypto market.

    You may remember that earlier this year, UK Prime Minister Rishi Sunak said he wanted the country to become a crypto hub. Adding clear rules for digital assets and crypto firms aligns with what the UK wants to do. 

    Read also: African Web3 Startup HoneyCoin Joins MYKOBO in Europe

    What this implies for British stablecoins

    These ideas come after the UK government released bigger plans last week to monitor the crypto sector. 

    According to the paper, the Financial Conduct Authority (FCA) will be in charge of the crypto sector as a whole, while the Bank of England (BOE) will be in charge of “systemic stablecoins” that are used by a lot of people and could affect the security of the financial system.

    A statement from the BOE says that their plans are mainly focused on stablecoins tied to the value of the British pound. The central bank thinks many people will use these to pay for things. Not only that, but the central bank is also thinking about limiting how many stablecoins each person can hold. 

    As long as they get permission, sources say the BOE’s plans would also let companies issue payments-focused, fiat-backed stablecoins in the UK. As long as they meet the requirements, big tech companies like Meta and PayPal can make stablecoins for payments.

    The FCA stated issuers must obtain permission to circulate fiat-backed stablecoins in the UK. It wants “appropriate” assets to support stablecoins equivalent to their circulation value. Issuers must also ensure that crypto may be easily redeemed for fiat currencies despite technical or liquidity difficulties.

    The watchdog also said that authorised stablecoin issuers should be able to keep the money they make from “interest and return from the backing assets.” This will help make it “clear that stablecoins are not deposits.”

    It says in the paper that the FCA does not want regulated stablecoin providers to give customers income or interest:

    This may be considered unfair to consumers if interest rates stay high or go up a lot (since the assets that back the controlled stablecoin are supposed to be kept safe as client assets).

    The role banks play in Africa’s digital future

    What will happen next?

    The Bank of England says that the discussion paper that came out on the following day is “an exploratory phase in developing the new regime.” Once regulators hear what people say about these ideas, they will discuss the final rules.

    An additional document produced with the discussion papers states that the FCA and central bank will consult on final guidelines by mid-2024 and implement stablecoin systems by 2025.

  • Fidelity bank acquires 100% stakes in Union Bank, UK

    Fidelity bank acquires 100% stakes in Union Bank, UK

    As part of its strategy for worldwide development, Fidelity Bank Plc has successfully completed the acquisition of Union Bank UK (UBUK), which was a subsidiary of Union Bank of Nigeria Plc.

    The acquisition of Union Bank UK, which was approved by the Prudential Regulatory Authority of the Bank of England, is anticipated to release a considerable amount of value for the Fidelity Bank Group, as stated by the board of directors of the bank, which oversaw the transaction.

    The Central Bank of Nigeria (CBN) had previously sent Fidelity Bank a letter indicating that it had no objections about the transaction.

    “The acquisition of UBUK is in furtherance of Fidelity Bank Plc’s strategic initiatives on international expansion,” the bank said in the statement.

    In the meantime, the shareholders of Fidelity Bank Plc would be entitled to an interim dividend payment of 25 kobo per share, which will total N8 billion for the half-year financial period that concluded on June 30, 2023.

    The bank increased its gross earnings by 59.6% to N247.1 billion during the first half of the year, which was driven by a growth of 39.4% in its interest income and a growth of 207.2% in its non-interest revenue. The dividend payment is a testament to the bank’s good financial performance during this period of the year.

    The total deposits held by customers at the bank surpassed the N3 trillion milestone, showing a year-to-date growth of 23.2% to reach N3.2 trillion. This compares to client deposits of N2.6 trillion held throughout the 2022 fiscal year.

    Read also: Fidelity Bank showcases financing opportunities for Nigeria’s fintech

    Comments from the CEO of  Fidelity Bank

    Nneka Onyeali-Ikpe, the Managing Director and Chief Executive Officer of Fidelity Bank Plc, made the following statement in response to questions on the performance of the bank: 

    “We are pleased to report on another period of quality growth across all financial and non-financial indices.

    “Our performance during the first half of the year reflects the resilience of our bank and the fundamental strength of our business to deliver long-term sustainable value at a time that has been characterised by global economic headwinds.

    “As a bank, we remain committed to our goal of helping individuals to grow, inspiring businesses to thrive and empowering economies to prosper.”

    Union Bank Plc, which has also been bought by Titan Trust Bank, said the divestiture of UBUK was to enable it to focus on its core banking operations in Nigeria.

    About Fidelity bank

    Fidelity Bank is a full-fledged commercial bank that operates in Nigeria. The bank has over 5 million customers, all of whom are served across its 250 business branches as well as numerous additional digital banking platforms.

    Fidelity Bank is rapidly implementing a digital-based retail banking strategy. This strategy has resulted in exponential growth in savings deposits over the last 12 years, with over 57 percent of customer enrollment on the Bank’s flagship mobile/internet banking products. Fidelity Bank focuses on select niche corporate banking sectors as well as Micro Small and Medium Enterprises (MSMEs).

    Fidelity Bank Plc first opened its doors in 1988 as a Merchant Bank. The company is currently listed on the Nigerian Stock Exchange (NSE). It changed its business model to commercial banking in 1999, and then in February of 2001, it became a universal bank. The new, larger Fidelity Bank is the product of a merger that took place in 2005 between the institution that was formerly known as FSB International Bank Plc and Manny Bank Plc.

    World Bank begins energy centre at UNN, Nsukka 

    About Union bank

    Union Bank of Nigeria Plc is a business bank with its main office in Lagos, Nigeria. Since 1917, it has been running in Nigeria.

    It is one of the oldest and most recognised financial institutions in Nigeria. It offers a wide range of banking services to individuals, small and medium-sized businesses (SMEs), commercial clients, and large corporations.

  • UK fintech Unlimit expands to Kenya, obtains PSP licensing

    UK fintech Unlimit expands to Kenya, obtains PSP licensing

    The UK fintech Unlimit has received a license from the Central Bank of Kenya, two months after the company announced it had acquired a Payment Solution Service Provider (PSSP) license from the Central Bank of Nigeria.

    Trevor Goott, Unlimit’s Director for Africa and India, says, “I’m very happy to welcome Kenya as our second African country. We just found out that we were given a license in Nigeria, so this is a great follow-up.”

    Unlimit may expand to Tanzania, its third African location. The fintech’s website lists East Africa as a coverage area.

    Goott says they entered Kenya because their overseas merchants wanted local operations there. “Also, Kenya is a great place for us to grow our operations in the area because of its strategic location in East Africa,” he said.

     Kenya leads the African payment ecosystem after 15 years. Its mobile money revolution is famous worldwide. This new idea has grown Kenya’s economy and made it easier for numerous firms to grow.

    Kenya’s mobile payment infrastructure offers local and foreign firms many choices for setting up a company. Unlimit hopes to lead Africa’s payment revolution by expanding to Kenya.

    Read also: Four online Apps to save dollars in Nigeria

    Unlimit expands again in Africa

    Unlimit offers a better payment experience by combining widely recognised payment best practices, industry-leading security procedures, detailed merchant analytics, and an easy-to-use interface.

     “We have ambitious plans for Kenya and East Africa,” Unlimit CEO Kirill Evstratov adds. We’ve helped businesses expand into new markets and reach more clients for 14 years. We’re teaching Africa now. “We want to set the standards for excellence and innovation in the payments processing industry,” he stated. “We also want to enable global companies to make cross-border payments.”

    Unlimit’s multiple payment options will satisfy Kenyan enterprises.

    This achievement shows that Unlimit is committed to making Africa’s financial system better and giving businesses access to cutting-edge payment options.

    Goott also said that most international fintech companies in Africa use a local payment provider and use its technology and license, which gives them a competitive edge. Unlimit eliminates middlemen who gain licenses.

    “Using a middleman creates two problems: your end-to-end transaction processing now depends on a third party, and using the “middleman” service costs more,” says Goott.

    “Unlimint has an advantage over its competitors because it works directly with local payment method providers using its own license .” This way, we keep control of our technology, which improves uptime and transaction conversion rates, and we can offer our merchants the lowest possible running costs, which helps their businesses grow by making them more price-competitive and sensitive.

    LemFi, Pesa Swap to boost Kenya’s remittance volume

    Rebranding Unlimint to Unlimit

    The UK fintech Unlimint became Unlimit recently. The name will represent the company’s new positioning, unify its product portfolio, and underline its objective to abolish financial borders, enabling businesses to operate locally and internationally across Europe, the UK, LatAm, APAC, and Africa, according to a statement.

    Payment processing was Unlimit’s primary emphasis in 2009. However, throughout its 14 years of existence, the company has never stopped increasing its capabilities and product offerings, continually introducing new solutions to meet market demand.

     The company offers payment processing, banking as a service (BaaS), and an on-ramp fiat solution for crypto, DeFi, and GameFi on one of the world’s largest in-house payment infrastructures.

    The company’s new name is a strategic move to unite its products and boost its global brand. The company’s BaaS and Web 3 on- and off-ramp solutions will be renamed Unlimit BaaS and Unlimit Crypto, respectively. A new website and the slogan “borderless payments” will accompany it.

    The fintech industry is changing to meet the changing needs of its users. The new website gives a more complete picture of the company’s services by including an interactive map and descriptions of payment methods by area. This will help businesses all over the world decide how to grow.

  • Spleet, Repit provide rental aid to Africans in the UK

    Spleet, Repit provide rental aid to Africans in the UK

    Spleet, a Nigerian real estate technology business, and Repit, a rental aid expert located in the United Kingdom, have announced cooperation.

    Repit provides relocation services such as home search and viewings, referencing guidance, paperwork support, and settling-in recommendations. 

    The goal of this collaboration is to help Africans relocate to the United Kingdom and find acceptable rental housing.

    Africans relocating to the UK can benefit from this partnership by receiving a 5% discount on services supplied by Repit from Spleet. These services include advice on what to expect from the UK rental market as well as how to behave in a number of settings. 

    Access to a dashboard for quick tracking of their numerous property alternatives is also available. The agreement is expected to benefit Africans relocating to the UK for the aim of starting a family, finding work, or furthering their education.

    Read also: Spleet raises $2.6 million seed to explore other markets

    Remarks From the CEO of Spleet

    Akintola Adesanmi, CEO and Co-founder of Spleet, made the following statement regarding the partnership: “We are excited to partner with Repit to provide Africans rental support during their relocation to the UK, moving to a new country can be challenging, especially when it comes to finding a new home. 

    “Immigrants often face difficulty during this process due to unfamiliarity with the UK rental market and legal requirements, no payslip as proof of financial backing, no guarantors etc. Our partnership with Repit will make the process easier and stress-free for everyone.”

    Moving to a different country can be a very difficult experience, especially if you are concerned about finding a place to live that is both comfortable and secure for you and your family. 

    Due to the fact that African immigrants in the UK are often unfamiliar with local customs and practices, negotiating the rental market can be an especially challenging experience for these individuals. Because of this, the process of choosing a place to live that is suited for this immigrant might become an additional source of worry and anxiety for them.

    The absence of guarantors, compliance with legal requirements, and proof of financial backing are some of the most prominent sources of frustration for African immigrants in the UK. Through its partnership with Repit, Spleet will be able to offer concrete solutions that will assist in making the process of relocating African immigrants more inclusive, seamless, and equitable for all Africans.

    SA Housing Startup, DigsConnect Secures Funding For international Growth

    About Spleet

    Spleet provides a comprehensive solution for the management of rental properties in Africa, catering to both owners and tenants. With the help of our rental management tools, you can post an apartment listing for free, rent out an apartment while maintaining payment flexibility, verify renters, and automatically collect rent.

    Spleet gives its customers a variety of payment options, such as monthly, quarterly, semiannual, and annual payments. Take notice that not all spots are available for payment on a monthly or quarterly basis. The host or landlord makes the decision on the acceptable methods of payment for each flat.

    Your initial month’s payment for the subscription comprises the cost of rent, a one-time security deposit, a single booking fee, the service fee, and the value-added tax. Subsequent payments towards a subscription cover the costs of rent, a service charge, and value-added tax. The partnership between Spleet and Relip will go a long way in helping Africans.

  • YuLife, UK insurtech startup, expands to South Africa

    YuLife, UK insurtech startup, expands to South Africa

    YuLife, a UK-based insurtech company, has introduced its service of group life insurance in South Africa. YuLife’s Group Risk Protection provides life, income protection, lump sum disability, and funeral coverage, as well as a well-being app and trusted support services.

    Employees may use the YuLife app to perform health activities and earn YuCoins, the programme’s virtual well-being currency. Guardrisk Life, South Africa’s leading life cell captive insurer, will underwrite YuLife South Africa policies in personalised risk solutions.

    The YuLife app allows employees to earn YuCoin, YuLife’s virtual well-being currency, by engaging in regular health activities like walking, meditation, and cycling. Employees may use it to purchase presents for themselves, friends, and family or to help the environment by planting trees or donating to charities.  

    YuLife believes that by incentivising healthy living, companies may simultaneously increase retention rates, enhance workers’ quality of life, and protect their loved ones’ financial futures.

    Read also: Nigerian Insurtech, Curacel Secures $3 Million to Expand Across Africa

    The company hopes to give South African businesses an easy way to offer extra protection.

    According to Jaco Oosthuizen, co-founder and managing director of YuLife South Africa, “South Africa has the second highest insurance penetration globally, making it a perfect market for YuLife to expand into and showcase its innovative approach to insurance.”

    “YuLife is launching in South Africa to give businesses an easy way to offer extra protection. We’re looking forward to giving South African businesses and employees real value every day in a way that is accessible, engaging, and delivers. There has been a significant shift towards workplace health and wellness, with an increasing number of companies adding new initiatives and resources to their employee benefits packages.”

    “We are excited to be working with YuLife to bring cost-effective insurance solutions to customers in South Africa,” stated Herman Schoeman, CEO of Guardrisk Life. As a firm founded on innovation, collaborating with a forward-thinking company like YuLife that shares our dedication to serving the requirements of our consumers makes excellent commercial sense. 

    “We look forward to strengthening our relationship with YuLife and providing our solutions to its customers while also empowering them to have a more comprehensive and holistic relationship with their life insurance and protection provider.”

    YuLife has transformed the life insurance industry

    YuLife leverages the most cutting-edge developments in behavioural science and gaming mechanics to inspire workers to adopt proactive lifestyle changes while also emphasising prevention by de-risking people via healthy activities.

    Also, it offers essential resources for mental and physical health maintenance, in addition to the care needed for day-to-day living. YuLife members get access to various wellness resources, including a virtual doctor’s office (provided by Kena Health), counselling and assistance (provided by ICAS), and applications like Meditopia and Fiit.

    By developing a novel ‘win-win’ model that is beneficial to people, companies, and society at large, YuLife has transformed the life insurance industry. With its all-in-one platform, the firm provides your team with a workplace wellness solution that they value and utilise, including staff wellness challenges, a virtual GP, on-demand mental health, financial protection, and awards.

    Compared to the typical insurer, YuLife clients interact with the firm more than once every day, and 87% say their health has improved as a direct consequence of being insured by YuLife.

    Casava Wins Insurtech Of The Year At The 2022 Business Day Awards

    About YuLife

    YuLife is a technology-driven financial services firm founded in 2016 with funding from major insurers and venture capitalists. The company’s mission is to inspire people and convert financial goods into a force for good. YuLife’s insurance approach focuses on risk reduction rather than claims compensation by using the power of technology and cutting-edge behavioural research. 

    The firm is revolutionising the employee benefits industry by rewarding workers for healthy living, supporting emotional, physical, and financial well-being, and fostering healthier, happier, and more motivated teams.