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Building effective Startups: The Role of Culture

The culture of an organization, the way that things are done, will develop whether there’s intention or not. By defining what it should be, you can influence the behavior. If you don’t define it, it’ll develop organically and you might not like the results. 

Josh Sephton, Via LinkedIn.

Culture is “the way we do things around here.” When you join a new team, you will quickly be humbled. Everybody knows everybody, everyone has a circle – or not. They know the bosses’ good and bad times -read, when to ask for favors and when not to. There’s clearly a formula on how business runs, and everybody knows it, except you. The newbie. Always saying hi to those that prefer quiet mornings, inviting to lunch the project manager that eats sandwiches at his desk, or running every step of your project by your supervisor who really prefers to just oversee and give feedback. Or, the opposite- when you meet the micromanager. Most times, teams have held on to their beliefs, rituals and behaviors for far too long, and will immediately sideline anyone who dares question “the way of doing things.”

All these things, added together, really define how teams work. And, ultimately, decide whether a team will build something great, or will jeopardize the productivity of an organization. In this article, we’ll explore the profound impact of startup culture on team dynamics and why getting it right can be the difference between success and failure.

So what then, is Culture, and Why is it so Important?

Culture isn’t just about Ping-Pong tables, free snacks and beer Fridays; it’s the underlying DNA that shapes how a team works together, innovates, and ultimately thrives. A strong culture provides a shared sense of purpose and identity, aligns team members around common goals, and fosters trust, collaboration, and resilience.

With the right culture within an organization, team members feel aligned, valued and empowered to put their best foot forward. This ultimately manifests into productivity, as there is a common and shared sense of purpose. No one is sidelined, there is no deadweight on the team, or walking on eggshells when it’s time to put a point across. And, it’s not just about productivity.

When you think of startups, the thought of challenges and tough days surely must cross your mind. The beauty of a strong and positive culture is that it carries a startup –and really any organization, through the dark days. When the product launch is a flop, or the expected funding didn’t pan out. Delayed salaries and the dreaded PR disasters that are a daily dose for most startups. A trusting, aligned, resilient and optimistic team- all *aspects* cultivated by a positive organizational culture will more often than not be willing and able to endure the tough times without backing out, cutting corners or sabotaging the organization.

Conversely, a toxic or dysfunctional culture can erode morale, hinder productivity, and drive talented team members away, ultimately spelling doom for the startup.

Cultivating a Positive Startup Culture:

Building a positive startup culture requires intentional effort and a commitment from leadership to prioritize values, behaviors, and norms that support the company’s mission and vision. Elements that define a positive culture are many. Today we discuss 3 key elements of a positive startup culture, and how Core values are the foundation on which a culture is built.

1. Aligning with the core values of your organization.

Core values are the foundation on which a culture is built. By definition, core values are “ideals you believe that determine your behavior and decisions.” They do not change with every turn or dynamics of the economy, society or organizational disruption. The point of values and mission in an organization is to define a pathway and create a guide for the team to follow in the process of executing the set goals.

When hiring, it is important to look out for people who align with your core values. If, for instance, your core value as a startup is boldness, it is crucial to be on the lookout for hires that share this core value. This means people who are not afraid of leaping on new ideas, even without full knowledge. People who don’t wait for conditions to align to act. People that are ready to try, fail and then try again.

When your core value is perseverance, team members that don’t back out when the going gets tough, that stay objective as opposed to emotional or panicked in less than favorable circumstances, are your best bet. As a startup, it is crucial to realize that a hire can have the right skills and be the best on the job, but when their core values are misaligned with yours, any attempt to “be on the same page” or “share a culture” will be futile.

Every organization explicitly outlines their mission, vision and values on their websites and walls, but it is just that- words. They do not integrate their values into their daily operations- hiring, crisis management, milestone conversations.

Deciding what values will help you achieve your goals, then integrating them in your day to day running will set a good foundation for a positive culture, even for people that join in later on, or through the dynamics that are bound to happen.

2. Empowerment and Ownership.

An empowered team isn’t just an asset; they’re the heart and soul of a productive workforce. When individuals feel empowered to take ownership of their work, supported to innovate, and encouraged to voice their ideas, they not only thrive personally, they also become catalysts for positive change and contribute to a vibrant and collaborative environment where creativity, productivity and success becomes a collective journey. And that is exactly what the goal of a positive culture should be – To be on a collective journey.

Autonomy is one of the guaranteed ways to empower a team. The degree to which a team or individual has freedom to make their own decisions and take actions independently, without excessive external control or micromanagement is consistent with the level of responsibility and ownership they have towards their work. Autonomy can manifest in various forms, such as setting their own schedules, choosing how to approach tasks, making decisions about resource allocation, and having input into strategic planning and goal-setting –as long as the goal is met.  When individuals have a sense of control over their work and are trusted to make decisions, they tend to feel more invested in their jobs and more motivated to perform at their best.

Empowering employees, however, goes beyond simply granting them autonomy; it is about unleashing their full potential to drive innovation, creativity, and productivity.

Implementing your team’s good ideas and giving them credit for it, ensuring employee satisfaction and engagement in brainstorming sessions, promoting and supporting their personal growth and development can create a culture where individuals thrive and contribute to the collective success of the company.

3. Diversity and Inclusion.

If you are a startup founder, I hate to break it to you, diversity and inclusion are not just buzzwords that corporates use to sound fancy. They are fundamental principles that drive innovation, creativity, and ultimately, the success of the company. When you talk of a positive organizational culture, diversity and inclusion must be among your to-do.

Diversity by definition is “the presence of a variety of different demographic and cultural characteristics within a group.” Most startup founders will be tempted to include their sister, a cousin, someone that looks like them, or with similar characters in the team. When it’s one or two, that might be okay. But at the very beginning stages of a startup, pulling all or most of your team members from your closest circle is as close to sabotage as you can get. Not only are boundaries shaky and blurred, but whenever a new team member from outside your circle or different from the team joins, they immediately are the outsider.

Diversity includes both visible differences, such as physical appearance, as well as invisible differences, such as cognitive styles, personality traits, and life experiences.

Embracing diversity means recognizing and valuing the unique perspectives, experiences, and contributions that individuals from diverse backgrounds bring to the table. It involves creating an environment where people feel respected, included, and empowered to be their authentic selves, regardless of their differences.

 Inclusion on the other hand, means appreciating and empowering all team members to achieve the set goals, regardless of their differences in identity and background. This means actively having inclusive practices like training and education, implementation of ideas from different team members and equity in terms of pay.

5 African Women Founders: Trailblazers in a Woman’s World

In the pulsating heart of the Fourth Industrial Revolution, where innovation meets opportunity, Africa stands at the forefront of technological advancement. And in the midst of all the exciting changes happening, although not talked about as much, women have fast risen to the call of technology and become bold trailblazers who have broken through barriers, challenged norms, and transformed the tech scene in Africa.

From coding geniuses to visionary entrepreneurs, these pioneers have not only harnessed the power of technology to change lives but have also become beacons of inspiration and hope for generations of women and young girls to come.

In this article, we honor the stories of 5 remarkable African women whose indomitable spirit, ingenuity, and vision have not only transformed the tech industry but have also left an indelible mark on the very essence of African innovation.

Naadiya Moosajee

Founder of Women in Engineering (WomEng), an organization dedicated to nurturing the talents of girls and women in engineering and technology, Moosajee is best known for her commitment to gender parity, spearheading a transformative movement to bridge the gender gap.

 In 2014, Forbes recognized her as one of Africa’s Top 20 Young Power Women in Africa, while the Government of China honored her at the BRICS Summit for her outstanding contributions to STEM education for African girls. Passionate about fostering STEM education and gender equality, Moosajee is committed to shaping prosperous and equitable societies in emerging economies.

Alongside Hema Vallabh, she co-founded WomHub, further expanding their impact on the industry.

According to Moosajee, “Engineers design our world and our society, and if we don’t have women at the design table, we exclude 50% of the population.”  

Betelhem Dessie

“As a young woman, coding made me feel independent and free, and that’s something I want to give other people.”

At the age of 7, Dessie fell in love with computers. And by the tender age of 20, this visionary Ethiopian technologist had six software programs patented in her name, and was involved in the development of the world-famous Sophia the robot. Dessie founded iCog-Anyone Can Code at the age of 24, an Ethiopian-based social enterprise that offers kids and youth an opportunity at a future through coding.

Through iCog, the futures of over 30,000 youths have been positively impacted, making them more employable and skilled for entrepreneurship.

Maya Horgan Famodu

Maya believes that if you want to support women, you put them in positions to do it themselves. And she lives by her words, having founded Ingressive capital and Ingressive for Good, one a venture capital that supports early-stage African tech startups, and the other a nonprofit providing micro-scholarships, technical skills training and talent placement to African tech talents in need, respectively.

Being the youngest Black woman to launch a tech fund, Maya Horgan has been honored by Forbes before in their “Under 30 Technology” list, in 2018.

Mary Mwangi

Mary Mwangi knows too well that being a pioneer, and especially in the tech space, is no bed of roses.

Founder and CEO of Data Integrated, this Kenyan powerhouse is a pioneer in the fintech logistics space in Africa, with her company leveraging on tech to offer financial solutions to African SMEs, with a greater focus on Kenya’s public transport system.

Being a pioneer, the challenges are there, she admits, but insists that “You can do it. You have to get up.” 

Charity Wanjiku

Charity Wanjiku describes herself as a shining star and a work-in-progress all at the same time. And a shining star she is indeed, having made patented solar panels and powered the most rural parts of Kenya before solar tiles were a thing. Recognized by both Forbes and the World Economic Forum as a top woman in tech globally, Charity is the founder Strauss Energy Ltd, an off-grid solar energy startup based in Nairobi, Kenya. She lights up the lives of Kenyans in rural areas – Literally.

The uniqueness of Strauss’ solar systems lies in their special meters that can feed unused electricity back to the national grid, generating income for households. 

She is passionate about breaking STEM barriers for women and girls, as in her words, “It’s important that girls are at the forefront of this digital age, because nobody will hire you if you do not have tech skills.”  

Strategic Survival: Unveiling the Path for African Startups Amidst Funding Challenges in 2024

African startup funding has seen a significant fall from the highs of 2021 and 2022, with investments in the startup scene in Africa dropping by around 27% in 2023

Disrupt Africa’s African Tech Startups Funding Report.

Would you start a startup if there was no funding for it? African startup funding has seen a significant fall from the highs of 2021 and 2022, with investments in the startup scene in Africa in terms of funding dropping by around 27% in 2023, according to Disrupt Africa’s African Tech Startups Funding Report. The number of investors during this time, according to the same report fell by half.

Does this inform the direction that startups might take in the future, or is it an indicator that starting a startup might not be a worthy cause in 2024? In the recent live podcast hosted by Founders Factory Africa on the good and bad of funding, experts in the startup ecosystem in Nairobi came together to discuss the importance of choosing the right capital in 2024, and how to navigate the tight belt fastened by investors.

In the panel for the live podcast episode were Rology CFO Jason Musyoka; Bruce Nsereko-Lule, co-founder and general partner at Seedstars; and June Odongo, founder and CEO of Senga Technologies.

One thing from the conversation was clear; in the fight for a win, and with the current lack of sufficient funding, startup founders might feel the need to scramble for every funding opportunity that presents itself, in the process hurting their business and perhaps themselves. Therefore despite these funding challenges, the panelists unanimously agreed that it’s still critical for startups to be reasonable and careful in choosing the investors they approach for funding.

So, what are these critical play points to be addressed in the race for funding, and how to understand good and bad funding?

Shifting investor expectations

In the best way to approach investors in these tight times, the panelists highlighted that times have changed in the ecosystem, and investors are now prioritizing fundamentals and sustainability over pure potential, advising that founders should be aware of investors’ shifting priorities and adapt their fundraising strategies accordingly. This requires founders to have a clear roadmap with achievable milestones (pilot, funding rounds) and contingency plans.

“As investors, we’re looking for a plan but you also need to model in variation,” says Nsero- Luke. “Aim to go with the plan but let’s model it if we need to spend a little bit more, for example.”

Additionally, investors are emphasizing due diligence and seeking ventures with strong fundamentals and realistic growth plans, moving away from solely chasing high-growth potential. That makes it important that they do everything they can to impress in the due diligence process.

“From an investor perspective, it’s important that you do your due diligence very well whilst you’re investing in a company so that, when you’re putting in the money, you don’t get unexpected surprises,” he adds.

Choosing the right investor

Even within this shifting environment, the panelists agree that it’s still important for startup founders to be discerning in the investors they approach for funding. More particularly, they say, founders must consider whether choosing local investors makes more sense than international ones. While international investors might have deeper pockets, local investors often have a greater contextual understanding of local environments and may therefore be better positioned to guide founders to success.

“The beauty about local investors is that we understand context,” says Musyoka. “And not just context but we also have networks. There are doors that the senior-level executives and CEOs that they introduce you to can open for you or businesses that they can enable for you that they can enable for that you wouldn’t be able to open for yourself.”

Another strategic considerations when choosing which investors to approach is your business goals. Founders should define their business goals (lifestyle vs. scaling) and align their investment strategy accordingly, potentially utilizing local angel investors and then seeking international capital for further growth.

Even with these considerations in mind, it’s still important that founders pay attention to the investment offers in front of them. “If you’ve got two competing term sheets in front of you, always go for the one that offers the least dilution,” says Musyoka, who has a unique perspective as an investor turned operator. “It gives you flexibility and allows you to operate in your known business framework.”  That may mean accepting a smaller investment but, Musyoka believes that this isn’t always a bad thing.

“A small amount is not necessarily bad for you,” he says. “You just have to recalibrate and work with what you have.”

According to Odongo, getting to the right investor also means knowing when to pause, when to move and when to stop, as Senga has had to do a couple of times over the past few years.

“At one point, we were going to raise money when we had validated our idea and it was growing well. Then we got a lot of competition that was emulating some of what we were doing and they were raising tones of money, so I decided not to raise because it was clear to me that things were not going to turn out well. So we retreated and pivoted to a new niche.”

Planning for an exit (or not)

In the long run, more and more startups taking this approach may also change how we think about exits on the continent.

“Exit opportunities exist in Africa,” says Nsereko-Lule. “We have local exchanges, we have big corporations, etc. The effective exit opportunities exist here, but the types of companies that local players want to buy are very different to the ones internationals want to buy.”

“As we contextualize venture capital to the local market, it will help,” he adds. “Then we can build businesses where founders have the necessary skill sets and build businesses capable of achieving exits on the continent.”

In conclusion, depending on how a founder goes about it, funding can be one of two; a blessing or a bad thing for a startup.  Even with the funding drought that the African startup system is facing, it is important for a startup to be wisely selective with choosing the right investor, lest they risk losing their soul and business in the fight.

Safaricom Launches Connect Academy to Train Fiber Optic Technicians

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Safaricom in partnership with the Information and Communication Technology Authority (ICTA) have launched the Connect Academy, a program designed to provide industry-leading training for fiber optic technicians.

The launch which happened at the Connected Summit 2024 happening at Uhuru Gardens will see over 10,000 youths, unable to further their education get skills to be expert in the field, which is vital in digitization.

The initiative aligns with Safaricom’s commitment to bolstering fiber optic networks in Kenya and Ethiopia, as well as the ICT Authority’s plans to expand fiber networks, public Wi-Fi hotspots, and Digital Village Smart Hubs.

Already, 750 youths had undergone the training during the pilot phase which took about 14 weeks and will be getting a professional certificate to culminate their training.

This year, the academy aims to train 1000 technicians.

“Our target is to grow a world-class broadband connectivity talent pool for both public and private sectors in partnership with TVETs,” said Fawzia Ali-Kimanthi, Chief Consumer Business Officer at Safaricom. “This will create employment and a career path for Kenyan youth who lack higher education.”

Speaking after the signing of the cooperative agreement, Chief Executive Officer (CEO) of ICT Authority, Stanley Kamanguya, emphasized the significance of public-private partnerships in achieving digital transformation across Africa.

“This academy feeds right into our plan to collaborate with the private sector in our digital transformation agenda,” said Mr Kamanguya. “We’ve been very consistent that as government, we cannot do this alone, and that’s why we’ve been calling upon the private sector to come in and support and collaborate with us.The signing with Safaricom is a testament to the collaboration that we have been talking about, and we thank them for taking the lead,” he added. “Together, we shall empower people and shape a Connected Africa.”

Customer Support Lead, Safaricom-Connect Academy, Paul Mbaka noted that the trainees will get extra courses on customer service, communication skills, health and safety and financial management to ensure they are market ready.

“We want to grow broadband connectivity talent pool in Kenya accelerating internet penetration as the foundation to the robust digital economy,” said Mr Mbaka who noted that the programme will train 1000 this year. “We will partner with the tvets from October to ensure the remaining 250 technicians get the training.”

Mr Mbaka noted that the youth who undergo the trainining will be linked to the market. “We will find them jobs but we are empowering them to be self employed.”

Kenya’s government unveiled a plan to deploy 100,000 kilometers of fiber optic infrastructure across the country, according to the Kenya’s Digital Masterplan 2022-2032 revealed at the Connected Summit 2022.

This significant infrastructure expansion aims to connect 40,000 schools and other learning institutions, 20,000 government institutions, and 13,000 health facilities. The project is expected to boost internet connectivity throughout Kenya, facilitating improved service delivery in education, government services, and healthcare.

Imparting the youths with fibre optic connection skills will enable Kenya advance in this journey.

Apple’s highly anticipated iPad launch event set for may 7

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After the longest hiatus in the history of Apple’s tablet lineup – one and a half years without a new tab launch – the latest generation of iPads is set to debut on May 7. Apple will host an online launch event starting at 7AM PT / 10AM ET, expected to unveil the latest iPad Pro and Air models, alongside a new iteration of the Apple Pencil.

Rumors suggest that the new iPad Pro will feature OLED screens, a first for the series, while the iPad Air will expand into a series offering two sizes, akin to the iPad Pro line.

The iPad Air is poised to receive a new processor and introduce a larger 12.9-inch variant, providing consumers with a Pro-like experience without the premium price tag.

Equipped with the new powerful M3 chip, the iPad Pros will showcase redesigned versions of the Magic Keyboard and Apple Pencil, with speculation hinting at potential support for the Vision Pro headset.

Pre-launch production has reportedly been increased, indicating Apple’s anticipation for these devices to rejuvenate tablet sales. Recent years have witnessed a decline in iPad sales, with a notable 25% year-over-year decrease during the last holiday season, traditionally a peak period for iPad purchases.

Huawei plans to compete with Android and iOS after announcing its HarmonyOS global expansion

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During the Analyst Summit 2024, Huawei’s chairman Xu Zhijun unveiled the company’s strategy for HarmonyOS global expansion. Despite facing US sanctions, Huawei aims to position HarmonyOS as a prominent contender in the mobile operating system arena which is primarily ruled by Google’s Android and Apple’s iOS

Huawei pledged extensive collaboration with app developers, offering comprehensive support, tools, and incentives to cultivate a thriving app ecosystem for HarmonyOS. Initial efforts will concentrate on the Chinese market, where research indicates that a vast majority of users engage with approximately 5,000 apps. Consequently, Huawei prioritizes adapting these key apps before extending them globally.

Progress is evident, with approximately 4,000 apps already adapted for HarmonyOS NEXT, meeting established timelines. However, onboarding additional developers requires ongoing dedication and resources. Xu Zhijun anticipates Huawei will achieve a significant milestone of 1 million apps in the near future. Note that HarmonyOS NEXT does not support Android apps meaning it can’t open Android APKs, hence the deeper need for developers to customize their apps for this specific OS.

Meanwhile, reports suggest that HarmonyOS is rapidly gaining momentum domestically, it is even poised to surpass iOS and become the second most popular mobile operating system in China after Android.

Vivo unveils BlueImage Brand for its next gen Imaging Technology

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vivo has introduced its new “BlueImage” brand, focusing on the innovative imaging technology it’s developing, with expectations of debuting alongside the upcoming vivo X100 Ultra.

While specific details are forthcoming, it’s anticipated that BlueImage will encompass advancements such as the V-series imaging chips, with the vivo V3 being the latest iteration utilized in the X100 phone series. Beyond hardware, vivo is also refining its proprietary image processing algorithms.

BlueImage aims to address various photography challenges, including backlighting issues, low-light performance, telephoto lens usage, group photography, and more.

Furthermore, vivo is extending its collaboration with Zeiss to co-develop lenses for its smartphones. Jia Jingdong, vivo’s VP of Branding and Marketing, assures that this partnership will embark on a new phase. It will be interesting to see what BlueImage and Zeiss partnership will cook up.

The future of the partnership looks bright, as company executive boldly called the upcoming vivo X100 Ultra as a “professional camera that can make calls.” The device is rumored to feature a 1/0.98” Sony Lytia LYT-900 (50MP) sensor and a 100mm (4.3x) periscope with a 200MP sensor.

In addition to BlueImage, vivo is involved in various blue-themed projects, including the early-stage development of BlueOS (or Blue River OS), featuring a custom kernel which is not based on Android, and the utilization of Blue Ocean battery technology in X100 phones, among other innovations.

WhatsApp is working on a “favorites” tab for contacts and groups

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WhatsApp, owned by Meta, is said to be working on a new feature allowing users to manage their favorite contacts and groups directly within the app settings. This functionality will permit users to effortlessly add, reorder, and remove their “favorite” contacts and groups, streamlining their messaging experience. The feature is anticipated to be included in an upcoming update.

WABetaInfo has identified this feature in the Android version of WhatsApp, specifically version 2.24.9.19. With this feature, users will no longer have to scroll through their contact list to reach frequently messaged individuals, enhancing convenience for both text and voice/video calls. Notably, marking contacts or groups as favorites will not notify them, maintaining user privacy.

Other reports have stated that WhatsApp is testing a quicker method for users to track their contacts’ recent online activity. A new tab labeled “recently online” will display a list of contacts who have been active recently, eliminating the need for manual checks.

A few days ago, Meta announced the integration of Meta AI chatbots into WhatsApp in an upcoming update in select markets. A lot of new features for WhatsApp users to look forward to.

45 startups shortlisted for the 2024 edition Of The Africatech Awards

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Viva Technology has announced the top 45 startups shortlisted for the third edition of the AfricaTech Awards. This pan-African initiative identifies and supports innovative impact startups across the continent.

For the third year running, the AfricaTech Awards aim to highlight innovative startups contributing to the development of the African continent in three categories: Climate Tech, Health Tech and FinTech. A new addition to this year’s FinTech category is E-Commerce, a sector that could create around 3 million new jobs on the African continent by 2025.

“In this new shortlist for the AfricaTech Awards, Africa demonstrates all the richness and dynamism of its startup ecosystem and positions itself as the continent to watch for tech and digital innovation. Viva Technology is delighted to make this African reality known to the whole world and to connect it to the stakeholders who will enable it to reach its full potential. This has been one of VivaTech’s commitments since its inception, and this year it will once again be one of the key themes of our event,” explains François Bitouzet, Managing Director of Viva Technology.

VivaTech and its Knowledge Partner, Deloitte, selected the startups in the running for the 2024 awards from more than 310 applications.

The E-Commerce & FinTech category attracted the highest number of entries (148), followed by Climate Tech (86) and Health Tech (79). The addition of E-Commerce to the FinTech category is generating a huge amount of enthusiasm, partly because of the importance that the sector is likely to have in the coming years. Indeed, e-commerce in Africa is expected to reach more than 83.5 million consumers by 2029, an increase of +56%.

Of the startups in this ranking, 42% are founded or co-founded by a woman, and nearly 90% have at least one woman on their board of directors.

Kenya, Nigeria and Egypt respectively take the podium as the countries with the highest participation rates among the 37 African countries represented. This winning trio has occupied the top three places in this ranking since 2022.

Aymen Mtimet, Partner Advisory at Deloitte Francophone Africa, adds: “Against a global backdrop of slowing investment, African ecosystems are continuing to improve their global positions, thanks in particular to the continent’s demographic dividend. 2024 will undoubtedly be an exciting year, thanks to the dynamism of the continent and the development of new trends, particularly in Deeptech and AI.”

Following a second evaluation by a panel of experts made up of partner c-level executives, investors and incubator CEOs, the three best startups in each category will have the opportunity to take part in the 2024 edition of Viva Technology, which will take place from 22 to 25 May in Paris.

These startups have been selected for the tangible impact their activities have on society or the environment, the development of an outstanding innovation, the scalability of their business on the African market, and the establishment of a diverse and experienced staff.

The winners will be announced at the AfricaTech Awards ceremony taking place Friday 24 May on Stage 1 in the presence of Edouard Mendy, the patron of this year’s event. As the winner of both the UEFA Goalkeeper of the Year and The Best FIFA Goalkeeper of 2021 – and the first African goalkeeper in football’s history to win both awards – Edouard Mendy is also deeply committed to the development of the African tech sector, in which he is a prominent investor.

“I am deeply honored to support the AfricaTech Awards organized by VivaTech. Showcasing innovation and technology from Africa is crucial to its development and global reach. As a supporter, I am excited to contribute to this great initiative that celebrates Africa’s talent and potential in tech. Together, we can create a future where Africa is positioned as a leader in innovation, and I look forward to seeing the extraordinary achievements that will emerge from these prizewinners.” – Edouard Mendy

The 45 startups retained for the rest of the competition (listed in alphabetical order)

The top 15 startups in the E-commerce & FinTech category, sponsored by Airtel and Cassava Technologies, are:

agriBORA – Kenya

AgroCenta – Ghana

Chari – Morocco

Dojah – Nigeria

Futa – Cameroun

Happy Pay – South Africa

Inclusivity Solutions – South Africa

Jem – South Africa

Leja – Kenya

Ozow – South Africa

PremierCredit – Zambia

Pricepally – Nigeria

SecondSTAX – Ghana

valU – Egypt

YMO – France / Guinea

The top 15 startups in the Climate Tech category are:

RubilabsVet (Agpreneur) – Nigeria

FLOEWS – Nigeria

Hysper Tech – Zambia

Immobazyme – South Africa

INNOVAHYPER Technologies – Rwanda

InterSIP International – Senegal

IPREN (Smart’O) – Niger

MazaoHub – Tanzania

Octavia Carbon – Kenya

Rethread Africa – Kenya

Schoolz – Egypt

Sensor Networks – South Africa

Solar Dev – Burkina Faso

SOSO CARE – Nigeria

Zebra CropBank – Nigeria

The top 15 startups in the Health Tech category are:

AfyaRekod – Kenya

Bulamu Bridge AI (My FemiHub App) – Uganda

Famasi Africa – Nigeria

Healthtracka – Nigeria

Clinicaa (INFINITUS) – Togo

Pharmacy Marts – Egypt

Remedial Health – Nigeria

Rology – Egypt

STAR UP KOBIKA NA NDAKU – Democratic Republic of the Congo

SURGiA – Egypt

Thalia Psychotherapy – Kenya

TIBU Health – Kenya

UltraTeb – Egypt

Zencey – Ivory Coast

Zuri Health – Kenya

Bolt and M-KOPA rollout 5,000 electric motorcycles in Kenya

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Bolt and M-KOPA, have today launched an electric bike fleet in Kenya to allow new and existing drivers an opportunity to lease ROAM and Ampersand electric motorbikes at a discounted price, reduce their operational costs, as well as move towards eco-friendly urban mobility, aligning with global efforts to combat climate change.

The 5,000 electric motorcycle rollout aligns with the recent launch of Kenya’s National E-mobility Policy, aimed at promoting local production and assembly of EVs. With zero tailpipe emissions and lower maintenance requirements compared to traditional vehicles, these electric bikes offer a cost-effective alternative for drivers, enabling them to maximise their earnings while minimising expenses.

According to Caroline Wanjihia, Regional Director, Ride Hailing Operations, Africa & International Markets, “By leveraging electric vehicles, we are not only reducing our environmental footprint, but also aim to enhance driver earnings and improve overall economic stability within the communities that we serve. Considering all financial incentives and reduced operating costs, drivers participating in this pilot launch could see significantly increased daily earnings compared to petrol motorcycles. This initiative underscores our commitment to driving positive change and fostering economic empowerment within our driver community.”

The deal saw M-KOPA , as the financier, ROAM and Ampersand as the manufacturers of electric motorbikes and Bolt, as the implementing mobility partner. Riders on the Bolt platform will be able to access an electric bike for as low as KES 10,000- 15,000, through vehicle financing, enabled by the partnership between M-KOPA, ROAM and Ampersand.

David Damberger, Managing Director – M-KOPA Mobility, added: “We have made substantial inroads since launching our Mobility division in 2022, in collaboration with ROAM and Ampersand. With over 2 million motorbikes navigating Kenya’s roads, now is the time for us to extend our reach, as we set to positively impact the environment significantly by reducing carbon emissions and saving on fuel costs—an essential keystone of Kenya’s sustainable development.”

Bolt says this move will help its drivers save approximately 40% savings in total ownership costs compared to petrol motorbikes. With reduced energy and maintenance expenditures, drivers can potentially decrease their vehicle operating costs by up to 75%.

Bolt’s competitor, Uber in August 2023, announced its Uber Electric Boda fleet in partnership with Greenwheels Africa, the company that manages the fleet, charging stations, and rider support. The firm promised to have 3,000 electric bikes with swappable batteries with quick charging power that ensures minimal downtime for riders. Uber’s Electric motorcycles in Kenya, dubbed “One Electric,” are not just in Kenya but are part of the firm’s commitment towards going green.

Recently, Kenyan-based electric mobility pioneer, Roam raised $24 million Series A funding to expand its local manufacturing capabilities, scale up production at the new 10,000 sqm Roam Park facility, investing in research and tooling for cost efficiencies, and streamlining local and global supply chain networks. These efforts align with Roam’s long-term goal of transitioning the transport sector across Africa to effective and affordable electric vehicles, leveraging locally sourced parts and existing large-scale manufacturing infrastructure. To date, the company has managed to capture or mitigate over 120,000 tonnes of carbon emissions, marking a significant milestone in its commitment to innovative electric transport solutions.

“Our at-home and portable charging options, extensive Roam Hub service network, and dual battery system empower delivery riders to increase efficiency without worrying about battery depletion.  Through this strategic partnership with Bolt, we’re not only promoting sustainability but also cutting operational costs remarkably for Boda riders, making a meaningful impact where it matters most, and creating a better future for all,” said Mikael Gånge, CCO, ROAM.

Since 2019, Bolt has been mitigating its environmental impact by investing in projects primarily focused on renewable energy and resource conservation. In 2021, Bolt introduced a new ride category on its platform dubbed Bolt Green which offers eco-friendly rides as the company moves towards reducing its ecological footprint in Nairobi. The category has hybrid and electric cars to reduce emissions during trips taken on the Bolt platform, thus, offering greener transport options. This category expanded Bolt’s ride options, creating more economic opportunities for drivers and providing passengers with more options to choose from.

As part of its launch strategy, Bolt will initially deploy the electric bikes in Nairobi, with plans for expansion in the near future. Through strategic partnerships and collaborations with local stakeholders, the company seeks to create a sustainable and inclusive transportation ecosystem that benefits users and the environment.

Josh Whale, Founder & CEO Ampersand E-Mobility Kenya added: “We thank Bolt and M-KOPA for their enthusiasm and confidence in our market-leading electric vehicles and energy network.  The collaboration between Bolt, M-KOPA and Ampersand is a significant step forward for the ride-hailing and delivery industry in Kenya. Our partnership with Bolt will lead the industry forward by adopting the most commercially scalable structure for E-Mobility and energy providers that we’ve encountered.”

SME Growth Lab Africa Opens Application for Cohort 2 of Its 2024 Digital Accelerator Program

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 SME Growth Lab Africa has announced applications for the second cohort of the 2024 Digital Accelerator Program which  aims to accelerate the growth and scaleup of African SMEs and propel digital transformation.

 Through this program, established business owners across Africa will get exclusive access to business training, mentorship, and professional support to take their businesses to a higher level.

Successful applicants for this cohort will have a remarkable experience participating in a 4-week  extensive training led by expert facilitators in May 2024.

The program modules include Selling Techniques, Marketing Strategies, Financial literacy and  Management, and Legal counselling.

As part of the program,successful candidates will undergo   training on business acumen, receive mentorship  from business experts,exclusive access to community sessions,access to additional business resources,certification upon completion, strategic partnership,24/7 business advice and support.

To be legible, applicants must be business owners based in any African country.

Must not be less than 18 years and not more than 40 years.

Must ensure promising commitment to attending virtual sessions and group calls.

Enthusiasm to volunteer and participate in community events and projects is an added advantage.

Must join our Facebook community here

In 2023, SME Growth Lab Africa trained 5,000+ business owners over four acceleration cycles. SMEs received mentorship, learning, and expert guidance over 4 weeks, preparing them for innovative principles to grow their businesses beyond borders.

Interested in becoming one of the SMEs,Apply here

Application ends on the 23rd of April 2024

TLcom raises $154 million to expand its mandate beyond Sub-Saharan Africa to Egypt

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TLcom Capital, the Africa-focused venture capital firm, has raised $154 million from the final close of TIDE Africa Fund II, its second fund for technology in Africa, making it Africa’s largest Seed and Series A investor.

The $154 million was raised from the European Investment Bank (EIB), Allianz and DEG Impact’s joint venture, AfricaGrow, Visa Foundation and Bertelsmann to expand its early-stage, multi-sector mandate beyond Sub-Saharan Africa to Egypt.

According to Maurizio Caio, Founder and Managing Partner at TLcom Capital, “TLcom now counts among a small number of venture capital firms that have raised multiple substantial funds for technology in Africa. This is a testament to the quality of our team and the trust we’ve established with our limited partners. It’s also a major endorsement of our long-term view on Africa’s massive upside.”

“We are maintaining the same investment strategy for TIDE Africa Fund II as we had for our first fund, which made over 80% of its investments at Seed or Series A. With this final close, we’re thrilled that TLcom is in an even stronger position to continue to partner with Africa’s most talented entrepreneurs from early in their company-building journeys. We’re also excited to spend more time in the Egyptian ecosystem, co-investing alongside the most active local funds. TLcom is well on its way to realising our ambition of becoming Africa’s most sought-after early-stage VC and a truly pan-African firm.”

The $154 million is more than twice the size of TLcom Capital’s first fund, TIDE Africa Fund I which closed in 2020. TIDE Africa Fund II will make initial investments of $1 million to $3 million and will double down on TLcom Capital’s established presence in West and East Africa.

The fund has already made its first investments in South Africa and Egypt with LittleFish, a software company enabling payments and banking products for retail-focused SMBs, headquartered in Cape Town, and ILLA, a middle-mile logistics platform headquartered in Cairo.

With its new fund, TLcom Capital plans to deploy significant additional capital into female-founded African tech startups, building on the firm’s June 2022 co-investment commitment of $2 million to FirstCheck Africa, a female-focused pre-seed fund. TLcom Capital’s commitment to gender balance is reflected in its majority-female partnership and investment committee.

TLcom Capital currently has over $300 million under management. Its portfolio counts 17 startups, including Andela, Ajua, Autochek, Fairmoney, Ilara Health, ILLA, Kobo360, LittleFish, OkraPula, Seamless HR, Shara, Terragon Group, Twiga, uLesson, Vendease and Zone.

Boasting one of the most impressive early-stage portfolios in African tech, TLcom Capital supports a number of the continent’s fastest-growing startups, including uLesson, Autochek, Pula, Fairmoney and Andela, one of the continent’s six unicorn companies. The firm has a solid track record of attracting Africa’s most successful repeat founders, including Sim Shagaya (founder of uLesson, Konga and DealDey), Etop Ikpe (founder of Autochek and Cars45) and Grant Brooke (co-founder of Shara and Twiga).

“Across Africa, access to capital remains limited, especially for early-stage startups.” says Ambroise Fayolle, Vice President and Head of Investments at the European Investment Bank. “At the same time, a young, technology-savvy population provides fertile ground for young companies. Africa’s startup ecosystem has the potential to drive inclusive economic growth and foster positive social change, which the EIB is happy to support. Through our investment in TLcom’s TIDE Africa II Fund, we expect to build and expand on the success and impact of the first TIDE Africa Fund, delivering much-needed capital to the most promising high-growth companies.”

Connected Africa Summit 2024 Kicks Off, Promises Digital Transformation and Economic Growth

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Today marks the much-anticipated inauguration of the Connected Africa Summit 2024, heralding the convergence of intellects and voices from across Africa and the world.

The Connected Africa Summit 2024 kicked off today at Uhuru Gardens in Nairobi, marking a significant milestone in Africa’s digital journey.

Leaders from across sectors convened to address pivotal issues shaping the continent’s digital landscape, with a shared commitment to fostering digital transformation and connectivity.

Esteemed heads of state, including President William Ruto are gracing the event, elevating its significance to new heights.

In a momentous address, Cabinet Secretary for Information, Communications and the Digital Economy, Kenya, Eliud Owalo, unveiled a roadmap towards enhanced digital connectivity and inclusivity.

The CS emphasized the transformative potential of Big Data and Machine Learning, illustrating how these technologies can revolutionize Africa’s digital landscape.

Central to CS Owalo’s vision is the cultivation of digital entrepreneurship opportunities. He underscored the importance of breaking down barriers and harmonizing policies across Africa to foster an environment conducive to innovation and growth.

“I am thrilled to witness the commencement of the Connected Africa Summit 2024,” remarked CS Owalo. “This week presents a unique opportunity for Africa to tackle pressing technology issues and craft enduring solutions that will shape our continent’s connected future. It is my hope that by the end of this summit, we will come up with recommendations of what we need to position Africa as a leader in the digital economy.”

Officially inaugurating the summit, President Ruto echoed Owalo’s sentiments, articulating a bold vision for Africa’s economic prosperity.

Under the framework of the African Continental Free Trade Area, President Ruto outlined ambitious plans to leverage pan-African integration to propel the continent’s collective GDP from $1.7 trillion to $2.5 trillion by 2030.

“Our vision for the future is bold, clearly urgent, and visible. Under the African Continental Free Trade Area framework, we aim to harness pan-African integration to expand our collective GDP from $ 1.7T to $ 2.5T by 2030,” President Ruto said.

The President also noted that, “At the heart of digital transformation are our young talents whom we must support if we are to realize a robust digital economy.”

Chief Executive Officer (CEO) of ICT Authority of Kenya, Stanley Kamanguya emphasized the summit’s importance in propelling Africa towards becoming a digital powerhouse.

“A challenge was set to grow a digital powerhouse, and the #ConnectedAfricaSummit2024 is a sign of that commitment to growth,” he remarked.

Mr Kamanguya stressed the potential to build a unique digital landscape that would give Africa a competitive edge, fostering connectivity and advancing digital transformation.

On his part, PS of ICT and Digital Economy, Eng John Tanui, underscored the summit’s role in addressing critical issues affecting the continent and the world.

“This platform gives us a huge opportunity to address some of the most important issues affecting our continent and the globe,” Eng Tanui stated.

He highlighted the focus on matters of connectivity and the digitalization of services, emphasizing the role of governments in driving these initiatives forward.

European Union (EU) Ambassador to Kenya, Henriette Geiger, highlighted the EU’s commitment to digital transformation in Africa.

“The EU has created the global gateway investment worth Sh21 trillion, where 10% of this funds is dedicated to digital transformation in Africa,” Ms Geiger announced.

She emphasized the importance of cooperation at all levels to ensure the success of digital ecosystems, envisioning the development of a single digital market for Africa where data can flow freely across borders.

The Connected Africa Summit 2024 sets the stage for collaborative efforts towards bridging the digital divide and unleashing Africa’s potential in the digital era.

The Leaders expressed optimism about the possibilities that lie ahead and reaffirmed their dedication to driving inclusive digital growth across the continent.

The summit promises to be a pivotal moment in Africa’s digital evolution, as leaders and innovators convene to chart a course towards a more connected, inclusive, and prosperous future.

Impact investor Goodwell invests EUR 150 million in OmniRetail to support informal retailers in Africa

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 Goodwell Investments, an impact investor focused on innovative businesses in emerging markets has partnered  with  its long-term partner Alitheia Capital to  invest EUR 150 million fund in OmniRetail – a B2B e-commerce platform digitising sub-Saharan Africa’s informal supply chain. The investment was done  via its uMunthu II fund, effectively kickstarting OmniRetail’s Series A fundraising round.

Goodwell Investments is a pioneering impact investment firm focused on inclusive growth in sectors providing basic goods and services and income generation opportunities to underserved communities in Africa and India. The firm provides early-stage equity to high growth, high impact businesses. With teams in Kenya, Nigeria, South Africa and the Netherlands and a track record of over fifteen years.

Archit Bagaria, Head of Investments at OmniRetail said, “Africa deserves a robust digital infrastructure layered on top of the existing informal retail – the impact of which cannot be overstated. As the largest employer and the only ecosystem that can truly ensure efficient distribution of essential goods, healthcare, and financial inclusion – informal retail plays a very important role in the economies we want to transform. ” 

Founded in 2019, OmniRetail provides the necessary digital infrastructure to tackle some of the most pressing challenges within Africa’s commerce value chain, particularly by addressing the needs of informal retailers. The firm is proud to be the first to commit, underscoring its desire to support the growth of companies driving financial inclusion in underserved communities.  

Through its flagship platform, Omnibiz, and innovative tools like OmniPay and Mplify, OmniRetail equips retailers with essential resources and tools to procure products, build and access credit, and optimize their business for higher profitability and scale.

With over 140,000 small retailers and 90 brands onboarded, the company is well-positioned to redefine the retail industry in the region.

With social impact at the core of its business model, OmniRetail is an ideal addition to Goodwell and Altitheia’s uMunthu II investment portfolio, which is dedicated to supporting local businesses providing essential goods and services to underserved populations.

Reflecting on the company’s potential for delivering positive impact, Oti Ilentamhen, Investment Principal at Alitheia commented, “With a strong focus on empowering underrepresented entrepreneurs, particularly women who make up 78% of its customer base, OmniRetail exemplifies the potential for technology-driven solutions to drive positive change in underserved communities. As the company continues to expand its reach and impact, encompassing distribution, logistics and financial services, it sets a compelling example for the broader investment community, showcasing the immense value of supporting businesses that prioritise both financial success and social responsibility.”

As OmniRetail continues its journey to modernise informal retail across West Africa, this investment will fuel the company’s expansion plans. In addition to strengthening its presence in Nigeria, OmniRetail has extended and is scaling its digital offerings to Ghana and Cote d’Ivoire, with the aim of doubling in size by the end of 2024.

 Since 2009, Goodwell has partnered with Alitheia Capital to identify and manage investments in West Africa, including uMunthu II – Goodwell’s latest EUR 150 million fund. 

Goodwell looks forward to partnering with OmniRetail throughout this exciting growth phase, supporting its vision to enable retailers and communities to thrive in the digital age.

AWS User-group Kenya Hosts Inaugural AWS Community Day

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The AWS User-group Kenya, an organization driven by the community with the aim of bringing together professionals, enthusiasts, and businesses interested in Amazon Web Services (AWS) within Kenya, hosted the first-ever AWS Community Day Kenya 2024 on April 20, 2024 at KCA University, Thika Road.

Supported by Amazon Web Services, this annual event served as a premier gathering for cloud enthusiasts, professionals, and businesses from all over Kenya who share a passion for cloud and AWS technologies.

The conference, spanning a day, offered a diverse array of sessions, workshops, and discussions led by industry experts, AWS representatives, and students.

Keynote speakers for this inaugural event included AWS Vice President and Chief Evangelist, Jeff Barr; Principal Secretary, Ministry of ICT, Kenya, Eng. John Tanui; Principal Secretary, Ministry of ICT, Uganda,Dr Aminah Zawedde and AWS Sub-Saharan Africa Manager, Robin Njiru.

AWS Community Day Kenya 2024 is proudly sponsored by AWS, KCA, Silicon Overdrive, Qucoon Limited, Emobilis, Eleven degrees, Labmero consulting, DumelaCorp, Whizlabs, Moringa School, MESH, and Yellow Card.

Over 400 attendees from Kenya, Uganda, Burundi and Nigeria had the chance to delve into the latest trends, best practices, and innovations in cloud computing, with a specific focus on how AWS services can tackle real-world challenges and drive business success.

Sessions spanned a wide spectrum of topics, including serverless computing, data analytics, artificial intelligence, and cloud security.

During the AWS Community Day, PS Tanui shared Kenya’s inspiring journey of digital transformation and innovation, emphasizing the nation’s dedication to realizing the Digital Superhighway.

“We’re committed to ensuring the achievement of the Digital Superhighway and collaborating with partners like AWS to achieve Kenya Vision 2030,” he stated.

PS Tanui highlighted the significance of leveraging cloud services infrastructure for economic growth, noting the collaborative efforts with AWS in opening new opportunities for Kenya’s talented youth.

“It was great to see youth working in the recently launched AWS development center here in Nairobi and serving the globe,” he remarked.

Eng. Tanui’s remarks underscored the pivotal role of the digital economy in empowering young people.

The discussion during the event explored the vast array of opportunities available, ranging from cloud computing roles to cybersecurity, AI, Machine Learning, and beyond.

On her part, Principal Secretary, Ministry of ICT, Uganda,Dr Aminah Zawedde noted that the youth have the role to drive the technological journey of the continent and they should take the responsibility.

She added that the governments in Africa should empower the youth to grow the sector which drives the economy a great deal.

“70% of Africa’s population is the youth. They should be driven to drive and grow the sector because they are the future leaders,” noted Dr Aminah who suggested that the community day should be expanded to regional and also continental reach.

As Kenya continues on its path of digital advancement, initiatives like the AWS Community Day serve as catalysts for nurturing talent and driving innovation in the digital sphere.

“Through its routine meetups, workshops, and the annual AWS Community Day, the AWS User-group Kenya continuously nurtures a lively and supportive community of AWS users and advocates within Kenya. The organization’s endeavors have played a significant role in promoting AWS adoption and advancing technical expertise across diverse industries,” noted Mr Njiru.

CAK’s Mary Mungai Elected as Vice Chair Smart Africa Council of African Regulators

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The Chairperson of the Communications Authority of Kenya (CAK) Board member, Ms Mary Mungai, has assumed the role of Vice Chairperson in the Council of African Regulators (CAR), a consultative body for Information and communications technology (ICT)  regulators in the Smart Africa Alliance.

Ms Mungai became the Vice Chairperson after finishing second in the Chairperson’s election, which was won by Mr Mamady Doumbouya, the Director General of the Regulatory Authority for Posts and Telecommunications for Guinea Conakry, receiving 12 votes.

She secured seven (7) votes, while Mr Daud Suleman from Malawi’s Communications Regulatory Authority came in third with four (4) votes.

The elections took place during the 13th meeting of the Council of African Regulators in Lilongwe, Malawi.

Smart Africa, established in 2013 as a Pan-African agency for ICTs, is a proactive initiative by African Heads of State and Government to boost sustainable socio-economic growth through broadband access and ICT utilization.

Ms Mungai’s election follows Kenya’s successful bid to host the Transform Africa Summit (TAS) from August 28th to 30th, 2024, just two months prior.

Organized annually by Smart Africa, TAS serves as the continent’s premier gathering, attracting over 5,000 delegates, including regional and global leaders, to deliberate on strategies for expediting Africa’s digital evolution.

RMB contributes to Acre Impact Capital’s $100 million private debt fund for climate-aligned projects across Africa

Rand Merchant Bank ,Africa’s corporate and investment banks, has invested in Acre Export Finance Fund I which targets commercial debt tranches of Export Credit Agency (ECA) transactions supporting climate-aligned infrastructure in Africa.

The fund has announced its first close  in which it has successfully raised an equity of ~$100m which will be used to part finance projects in four impact sectors: renewable power generation, health, food and water scarcity – as well as sustainable cities and green transportation.

Aymeric Perrin-Guinot, Senior Transactor ECA Finance at RMB London said: “By providing specialist funding for the commercial debt tranche and as a result unlocking the ECA guaranteed part of the transaction, the fund will enable the mobilisation of up to $2bln toward impact projects.”

“ECA finance, by enabling access to long-term debt for borrowers in emerging markets, is seen as a key contributor to the reduction of the infrastructure financing gap in Africa, which is estimated to be over $100 billion every year.”

The IMF has recently noted that for every $1m invested in infrastructure projects, between 8 and 30 jobs are created in low income developing countries.

“In addition, the fund is expected to have a significant positive social, environmental and economic impact, underlining RMB’s own ambitions in sustainable finance and our commitment to support Africa’s transition to a lower carbon economy in line with the Paris Agreement.”

Acre Export Finance Fund will align all its investments with the UN’s 17 Sustainable Development Goals (SDGs) and leverage industry-leading frameworks for impact reporting.

Perrin-Guinot added that RMB’s investment in the fund is a great example of African banks contributing to solutions to African problems.

Hussein Sefian, CEO of Acre Impact Capital said: “RMB’s investment in the Fund demonstrates the positive role that African financial institutions are playing in supporting the financing of climate-aligned essential infrastructure in Africa. We are pleased to have received commitments from premier African investors such as RMB.”

Egypt-based VC fund Beltone partners with Citadel Holdings to manage $30 million VC fund

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Egypt-based VC fund Beltone Venture Capital (BVC), a subsidiary of Beltone Holding, has partnered with CI Venture Capital, a subsidiary of UAE’s investment group Citadel International Holdings, to manage a $30 million fund to back fast-growing startups.

Beltone Holding is a financial services provider that offers a comprehensive and growing set of financial solutions such as brokerage, investment banking, asset management, equity research, and private equity, in addition to end-to-end non-banking financial institutions (NBFIs) including leasing, factoring, consumer finance, venture capital, mortgage finance and microfinance.

“We are proud and excited to partner with Beltone Venture Capital to support the growth of high-potential technology companies. Our investment will contribute to the development of the early-stage innovation ecosystem in the MENA region,” said Fady Dahlan, Managing Partner of CI Venture Capital.

According to Ali Mokhtar, CEO of Beltone Venture Capital, The Fund is a continuation of the same strategy Beltone Venture Capital has been executing since its inception in 2023. This is aligned with our fundamental principle of acting as founders’ partners and value investors, supporting startups’ scaling up and reaching their full potential. We are aiming to expand our regional presence with a focus on high-margin sectors that offer foreseen exponential growth where technology can play a substantial role.

Mokhtar added: “The Fund will typically invest in pre-seed and seed funding rounds and will continue to support the best-performing portfolio companies in follow-up rounds; in addition to potentially investing in attractive opportunities at different funding stages.”

The Company is driven by a vision to redefine the financial ecosystem in the region by capitalizing on global expertise, knowledge and disruptive, value-accretive solutions that unlocks limitless opportunities for clients, to drive market value and impactful results.

Egypt’s Potcast raises funding round through Shark Tank to expand into regional markets,

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Egypt-based podcast production company ,The Potcast Productions Company (TPP) has raised an early financing round at an undisclosed value, through the Shark Tank programme.

Founded in 2020 by Islam Adel, Potcast creates 15 diverse programmes tailored to various target demographics. It claims to have garnered 7 million listens and over 600,000 viewing hours within just 6 months.The company strives to help content creators reach a larger audience, allowing them to achieve greater and more efficient profits, particularly during this period of abundant opportunities for growth in the podcast industry. Moreover, it aims to pin Egypt on the global media map by showcasing advanced and pioneering content.

Islam Adel, CEO of The Potcast Productions (TPP)said: “This tour will help us expand our business and serve more content creators in the region. The podcast industry is experiencing significant growth as a versatile platform for education and entertainment, attracting a global audience with its content – thanks to its rapid expansion on both a global and regional scale.”

The financing round is aimed to propel Potcast’s plans to expand into regional markets, beginning with the Kingdom of Saudi Arabia and the United Arab Emirates.

TPP has also  launched the W Program, hosted by Dina Ghabbour, which will focus on empowering women and discussing important social issues from a unique and direct perspective.

It is worth noting that The Potcast Productions (TPP) was honoured with the Gold Ticket Award from Vodafone Business for the second season of the Shark Tark programme.

The company is dedicated to offering original, high-quality content in various genres, including comedy, crime, mental health, and news. Through its innovative marketing services, TPP helps content creators generate successful profits. Furthermore, the company strongly believes in the power of podcasts for communication and education and is committed to enriching Arabic content and achieving further accomplishments.

Huawei new flagship, the Pura 70 Ultra, announced with a retractable camera

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Huawei’s new Pura 70 series offers four variants, with the Pura 70 Ultra standing out as the most impressive. We have covered the other 3 versions, Pura 70, 70 Pro and Pro +, in a different post here. Sharing similar specifications to the Pura 70 Pro+, it boasts a unique vegan leather back and an upgraded camera system, featuring a 1-inch main sensor with a retractable lens and variable aperture.

Huawei has introduced a retractable mechanism for the 50 MP main camera, which pops up when in use. This innovative rotating telescopic lens underwent rigorous testing, enduring 300,000 cycles of expansion and contraction. Additionally, the main shooter now sports a variable f/1.6 – 4.0 lens and a 22.5mm focal length, supported by the new XD Motion engine for capturing fast-moving objects.

The second module on the back houses a 50 MP telephoto lens with a 90 mm f/2.1 lens and OIS, offering 3.5x optical zoom. This telephoto camera also serves as a macro shooter, allowing close-ups as close as 5cm with its 35x super macro mode. Meanwhile, the ultrawide shooter is a 40 MP sensor and a 13mm equivalent focal length. The device includes a 13 MP front-facing camera.

In line with the AI trend, Huawei has incorporated AI photo cloud enhancement and features for deleting subjects from photos and retouching images. Other specifications include a quad-curved 6.8-inch LTPO OLED screen with FHD+ resolution and a 120Hz refresh rate, rated at 2,500 nits peak brightness. There’s an under-display fingerprint scanner, protected by the latest generation Kunlun glass.

Underneath, the Pura 70 Ultra runs on Huawei’s new Kirin 9010 chipset, equipped with an 8-core CPU – 1x 2.3 GHz + 3x 2.18 GHz + 4x 1.55 GHz. It’s speculated to be manufactured on a 7nm process similar to the Kirin 9000s inside the Mate 60 series.

Furthermore, the Pura 70 Ultra offers dual satellite connectivity with support for Beidou and Tiantong, enabling messages, images, and calls. It boasts an IP68 rating and packs a 5,200 mAh battery with 100W wired charging, 80W wireless charging, and 20W reverse charging. The device operates on HarmonyOS 4.2.

Available in Chanson green, Mocha brown, Starburst white, and Star black colors, the Pura 70 Ultra starts at CNY 9,999 ($1,380) for the 16/512GB variant and CNY 10,999 ($1,520) for the 16GB/1TB version. Pre-orders are currently open, with open sales expected to commence in China later this month. Huawei has not disclosed any plans for a global release at this time.

Huawei rebrands P series to “Pura” and launches Pura 70, 70 Pro and 70 Pro+

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Huawei is celebrating the 12th anniversary of the Ascend P1, the phone that marked the beginning of its photo-focused P series. To commemorate this milestone, the company is launching the latest lineup called Pura 70, the new Pura branding with replace the P series.

The 2024 Pura 70 series introduces several models: the standard Pura 70, followed by the Pura 70 Pro and Pro+, with the Pura 70 Ultra topping the range. All these models feature a triangular camera setup and are powered by Huawei’s new Kirin 9010 chipset.

While Huawei has not officially commented on the chipsets, it’s revealed that the Kirin 9010 chipset boasts an octa-core CPU, including a prime core clocked at 2.3 GHz, three powerful cores at 2.18 GHz, and four efficiency units at 1.55 GHz.

This marks the first time an Ultra variant has been introduced to the P series, now renamed as Pura.

Huawei Pura 70

The Huawei Pura 70 is compact, standing at 157.6 mm tall, making it the shortest non-foldable flagship from Huawei in nearly three years. It features a 6.6” LTPO OLED display with a 120 Hz adaptive refresh rate and 2,760 x 1,256 pixel resolution. The phone includes 12 GB of RAM and storage options of 256 GB, 512 GB, or 1 TB, with no provision for memory card expansion.

Huawei Pura 70

In terms of camera, the Pura 70 retains two shooters from its predecessor, including a 13MP ultrawide camera and a 12 MP telephoto with OIS. The main camera has been upgraded to a 50 MP sensor with a variable aperture from f/1.4 to f/4.0.

The Pura 70 is powered by a 4,900 mAh battery supporting 66W wired, 50W wireless, and 7.5W reverse wireless charging. It runs on HarmonyOS 4.2.

Starting at CNY5,499 ($760/€710), the Pura 70 is available in four color options: Sakura Rose Red, Ice Crystal Blue, Snow White, and Feather Sand Black. Pura 70 is currently open for pre-orders, with sales starting on April 22.

Huawei Pura 70 Pro and Pro+

Moving on to the Pura 70 Pro and Pro+, the main difference lies in the back panel design and RAM capacity, with the Pro+ featuring 16 GB RAM compared to the Pro’s 12 GB. Both models share similar features otherwise, including display, cameras, and battery.

Huawei Pura 70 Pro

The Pura 70 Pro and Pro+ sport a 6.8” LTPO OLED panel with a 120 Hz refresh rate and Basalt-tempered Kunlun glass protection for durability. The rear triple camera setup includes a 50 MP main camera, a 48 MP telephoto, and a 12.5 MP ultrawide.

Both devices have a 5,050 mAh battery with 100W wired, 80W wireless and 20W reverse wireless charging support. The OS is once again HarmonyOS 4.2.

Huawei Pura 70 Pro+

The Pura 70 Pro pricing starts from CNY6,499 ($900/€840) for the 12/256 GB option, while the most expensive version with 1 TB storage is CNY7,999 ($1,100/€1,030). You can have it in either White, Black or Purple.

Huawei Pura 70 Pro+ costs CNY7,999 for 16/512 GB, while the top tier 1TB version  goes for CNY8,999 ($1,245/€1,165). The Pro+ variant also features a woven plaid design on the back painted in Silver, White, or Black.

Pre-orders for both are already on and sales beginning on April 22. There is no confirmation yet regarding international availability.

Nokia X10 and X20 Android 14 update is in the works

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HMD Global has faced delays in rolling out the latest Android 14 update for its Nokia smartphones. While some models have already received the update, many are still undergoing testing. Notably, flagship phones like the Nokia XR20 and 21, as well as other X series devices such as the X10 and X20, are yet to be tested with Android 14.

Recent Geekbench listings suggest that HMD has begun testing Android 14 on the X10 and X20 models. The X10 scored 701 points in single-core and 1853 in multi-core tests, while the X20 achieved similar scores of 699 and 1842, respectively. These results indicate that the Qualcomm SD 480 5G chip’s performance remains consistent with Android 13.

HMD has confirmed through the MyPhone app that the Android 14 update for the Nokia X20 is in progress. However, concerns arise as the device’s support is nearing its end in two months, leaving users uncertain about receiving the promised major OS update.

For users of the Nokia X10, the April security patch has been released. To check for the update, go to Settings > System > System Update > Check for Updates on your device.

The first alternative app store for iOS devices, AltStore PAL, launches in Europe

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Following pressure from the EU, Apple has been compelled to allow third-party app stores on its iOS platform, leading to the emergence of the first alternative to the default App Store, known as AltStore PAL.

While AltStore PAL has been in existence since 2019, it was previously accessible through methods that involved bypassing Apple’s restrictions. However, with the enforcement of the EU Commission’s DMA, AltStore PAL is now easily accessible to users who are willing to navigate through Apple’s prompts regarding the installation of apps from other sources.
To access the new store, users are required to pay a nominal annual fee of €1.50, which covers Apple’s Core Technology Fee necessary for the operation of AltStore PAL on iOS devices. This alternative app store also offers enhanced integration with Patreon, facilitating support for developers who share beta versions of their apps, a feature not available on Apple’s default App Store.
Furthermore, the developers of AltStore PAL are introducing their app Delta to Apple’s official App Store. Delta, although not new, was previously unavailable on the default App Store. It functions as a game emulator, supporting a variety of gaming consoles such as NES, SNES, Nintendo 64, Game Boy, Game Boy Advance, and Nintendo DS.

Apple ordered to pull WhatsApp and Threads from the App Store

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Apple announced that the Cyberspace Administration of China had instructed the removal of WhatsApp and Threads from the Chinese App Store, emphasizing their commitment to comply with local laws.

Apple clarified that the Meta-owned apps were removed from the App Store in China due to an order from the Chinese government, citing concerns about national security. However, these apps remain accessible through alternative app store.
Although WhatsApp and Threads were removed, other Meta-owned apps like Facebook, Messenger, and Instagram, along with various popular US social media platforms such as YouTube and X (formerly Twitter), remain accessible in China.
Analysts in China’s tech industry speculated that the government’s action might be linked to a 2023 regulation mandating all apps available in China to register with the government, with a deadline set until the end of last month.
This incident isn’t unprecedented for Apple, as it has previously removed apps from its Chinese store. For instance, the New York Times app disappeared in 2017, while AI-driven chat apps akin to ChatGPT were pulled in 2023 following Beijing’s regulations on generative AI services

Safaricom Spearheads Connected Africa Summit 2024, Pledges Sh20 Million Sponsorship

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Safaricom announced its dedication to supporting the Connected Africa Summit 2024, set to occur from tomorrow, Sunday, April 21st to Thursday, April 25th, at Uhuru Gardens, Nairobi.

With a sponsorship of Sh20 million, the telco will offer various services, including Wi-Fi connectivity, network optimization, experiential tech showcases, branding, merchandise, and customer engagements during the summit.

Chief Executive Officer (CEO) of Safaricom, Peter Ndegwa emphasized the significance of events like the Connected Africa Summit in facilitating meaningful dialogues and collaborations that drive Africa’s digital transformation.

“Safaricom’s involvement reflects its commitment to co-creation, expanding perspectives, and progressing towards the future.”

Safaricom’s participation underscores its dedication to advancing digital societies and promoting a sustainable future across the continent.

The Connected Africa Summit 2024 serves as a platform for African leaders, investors, and businesses to converge, exploring the vast opportunities within the digital economy while addressing existing barriers and pressing challenges.

With the theme “Shaping the Future of a Connected Africa: Unlocking Growth Beyond Connectivity,” the summit resonates with Safaricom’s vision of empowering digital societies and fostering sustainable development in Africa.

In addition to its support for the summit, Safaricom plans to introduce the Connect Academy, aiming to establish a center of excellence for training and nurturing skilled fiber optic technicians in Kenya. This initiative aligns with Safaricom’s commitment to fostering local talent and driving innovation within the country.

Meta introduces new AI to be present in WhatsApp, Instagram and Facebook

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Meta has introduced early versions of its newest large language model, Llama 3, along with a real-time image generator that updates images as users input prompts. This move aims to compete with leading generative AI developer, the Microsoft-backed OpenAI.

These models will be incorporated into Meta AI, the company’s advanced virtual assistant, which it positions as the most advanced among its free-to-use counterparts. Meta AI will be integrated into Meta’s various platforms like Facebook, Instagram, WhatsApp, and Messenger, as well as a standalone website.

Future versions of Llama 3 will include more advanced capabilities, such as the ability to generate longer multi-step plans and multimodality, enabling the generation of both text and images simultaneously.

Mark Zuckerberg highlighted that the largest version of Llama 3 is currently undergoing training with 400 billion parameters and has achieved a score of 85 MMLU, a metric indicating AI model strength and performance quality. Smaller versions with 8 billion and 70 billion parameters have also been rolled out, scoring around 82 MMLU.

Meta also announced a partnership with Google to include real-time search results in the assistant’s responses, in addition to its existing collaboration with Microsoft’s Bing.

Meta is expanding the availability of Meta AI in English to several countries outside the U.S., including Australia, Canada, Ghana, Jamaica, Malawi, New Zealand, Nigeria, Pakistan, Singapore, South Africa, Uganda, Zambia, and Zimbabwe, with plans for further expansion.

The decision to make Llama 3 open source is a departure from other leading companies like OpenAI and Google, who typically keep their technology closed. Open sourcing allows for easier use, scrutiny, and sharing within the industry, potentially fostering innovation and the development of various apps and tools.

CEO Weekends: Kapu Africa’s Meera Dhanani on building the most relevant B2C e-commerce model for Africa

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Meera Dhanani Shah was part of the former Jumia executives who raised $8 million to launch Kapu, a B2C e-commerce grocery startup with a mission to help consumers buy groceries at lower prices through online and offline channels.

Born and raised in Kenya, Meera pursued further education in the UK, where she eventually worked with a German investment bank focused on credit products, an area that did not exist in Kenya when she moved back. She used this transition as an opportunity to venture into something new. After her return, she had an eat pray love moment and trained to be a yoga teacher before she joined Jumia Group.

Meera says her interest in ecommerce in Kenya was sparked by her heavy reliance on platforms like Amazon and Ocado whilst in the UK. And wanting to be part of this growing industry, she joined Jumia Group’s Kenya subsidiary as an account manager for Phones, later transitioning to a customer engagement head, and eventually the CMO for Jumia Kenya. 

After 4 years she left Jumia Group to pursue her own venture, drawing upon her experiences to assist other brands in growing their own e-commerce ventures.

Here is the rest of the interview with TechMoran.

What is Kapu and how does it work?

Consumers in Africa spend a staggering 46% of their income on their grocery basket. When such a large proportion of their income is spent on food, there is very little disposable income left to spend on education, savings or investments. This is a huge blocker to social mobility in Africa.

Kapu is on a mission to reduce the cost of living and save consumers in Africa $1 billion over the next 10 years. To achieve this goal, Kapu is building the most relevant B2C e-commerce model for the majority of urban consumers in Africa. 

What inspired you to create Kapu? How far are you to solving that problem?

You do not have to go far to hear how the cost of living has increased, here in Kenya, in Africa & across the world. I was drawn to join Kapu, driven by our mission of reducing the cost of living. Alleviating this financial burden allows for cash to be used elsewhere, insurance, health care etc. Our objective is to help our customers save $1 billion. While this is a significant milestone, we’ve already achieved $1 million in savings within the first 1.5 years of operation.

Why do you think the market is sold to Kapu?

When consumers spend such a significant amount of their income on daily essentials, they are looking for ways that are more cost effective & more convenient than their current options in a more reliable & consistent way. 

We have been able to tap into these customers, by adopting an omni channel approach & being present in the communities where our shoppers are. We have on-ground sales “Kapu Kommando’s” who help educate consumers and support first time ecommerce shoppers. 

What’s the biggest challenge right now in getting more users to Kapu?

We need to drive users, but in a sustainable way. Gone are the days where you offer 50% discounts to drive user growth. These tactics may yield short term gains but this is not aligned with our brand ethos, which prioritizes sustainable delivery of everyday low pricing to our customers. 

What do you think about the Kenya ecommerce landscape at the moment?

With an expanding middle class, increased internet penetration, lower cost of data & widespread mobile technology. The Kenyan ecommerce landscape presents a significant opportunity for e-commerce businesses. 

What does a Chief Marketing Officer do?

CMOs now undertake a more comprehensive role than in the past, which primarily revolved around advertising and communications. Now CMO’s are tasked with developing strategies to enhance brand growth and collaborating with other departments to facilitate this expansion. There’s a noticeable shift towards leveraging data and analytics and increased financial accountability, requiring decision making that prioritizes ROI.

What else did you learn from your various roles at Jumia?

My 4 years at Jumia was an intense learning experience every single day. I took on various roles within the company, which provided me with significant responsibilities early on and empowered me to dream big & implement. From organizing a Sauti Sol concert to kick off Black Friday sales, to launching a teleshopping show on NTV and even selling 5 cars, every day at Jumia was filled with learning. We failed fast, but learnt even faster. 

Moreover, leading a team of 16 talented individuals was a humbling experience. I was fortunate to work with a group of smart, collaborative, creative, and dedicated individuals whom I was immensely proud to lead.

What keeps you motivated?

The opportunity to be able to contribute to social mobility within a community is a powerful motivator for me. Being able to actively participate in this and witness the tangible benefits it brings to individuals keeps me inspired and driven to make a positive impact.

What are your experiences so far as an ecommerce firm in Kenya?

Our journey as an e-commerce firm in Kenya has seen us encounter various obstacles along the way but we’ve also discovered hidden opportunities.

Successfully navigating these challenges and seizing the opportunities presented has been instrumental in our progress and growth thus far. It’s a constant process of adaptation and innovation that has shaped our journey thus far.

Is big tech’s setting up shop in Kenya good or bad for your business?

Big tech companies setting up shop in Kenya can have a positive impact on our business. Their presence not only attracts top talent but also contributes to the overall development of the ecosystem, creating a conducive environment for business growth and innovation, benefiting us and the entire industry.

Looking ahead, what excites me most about the future for our company is the vast potential that lies ahead. We’ve made significant progress already in the last 2 years, but we’re only scratching the surface of what we can achieve. There are countless opportunities for growth, innovation, and making an even greater impact on our community & our mission to reduce the cost of living for our consumers.

How is Kapu using AI to serve its customers?

AI is indeed gaining momentum in Kenya, with lots of brands using AI generative images etc. We have focused on telling real people stories, & using images of real customers etc.
We have tested AI chat bots & in the future we will explore AI algorithms to offer personalized product recommendations, to offer a more relevant & convenient experience. There are also additional AI capabilities being looked at to drive operational efficiencies. 

With all the responsibilities at Kapu how do you unwind? I find that something physical makes me unwind. Whether it’s hitting the gym, going for a run, or yoga, I make sure to prioritize some form of physical activity. It’s amazing how much it helps me clear my mind and recharge for the next day. 

Kenyan Innovation Academy Celebrates Milestone, Announces Virtual Relaunch

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The Kenya National Innovation Agency (KeNIA) is celebrating a major milestone with the training of over 1,800 innovators in commercialization strategies.

Additionally, KeNIA reported it has empowered more than 90 institutions with the creation of official Intellectual Property (IP) policies.

This news comes ahead of the KeNIA Innovation Academy’s virtual relaunch today afternoon, marking a new chapter in its mission to foster a culture of innovation in Kenya.

The online event boasted a distinguished guest list, including the Cabinet Secretary for the Ministry of Youth Affairs, Sports and Arts, Ababu Namwamba.

He was joined by representatives from various partner organizations who were to collaborate with KeNIA on future capacity-building programs.

“The core principle of this program is to equip government officials with a deeper appreciation for innovation,” said Tonny Omwansa, Chief Executive Officer (CEO) of KeNIA during the virtual launch event. “We aim to guide them on mainstreaming innovation efforts, establishing relevant policies, and implementing effective monitoring and evaluation practices to measure progress and optimize institutional performance.”

The KeNIA Innovation Academy aligns with the government’s recent launch of a virtual university, providing a comprehensive learning ecosystem for young people, researchers, and innovators.

“There’s a global shift happening,” said Victor Owade, Counsellor for Academic Institutions and Executive Programs at the WIPO Academy. “Intellectual property is no longer a secondary concern, it’s becoming central to the success of economies.”

WhatsApp Introduces Chat Filters for Easier Message Management

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Popular messaging app WhatsApp is rolling out a new feature called “Chat Filters” to help users navigate their ever-growing inboxes more efficiently.

“Opening WhatsApp and finding the right conversation should feel quick, seamless, and simple,” stated a WhatsApp blog post announcing the update.

The new feature offers three filters accessible at the top of the chat list: All, Unread, and Groups.

All: This remains the default view, displaying all chats, both individual and group conversations.

Unread: This filter prioritizes catching up on missed messages. It highlights conversations that are either marked unread by the user or haven’t been opened yet.

Groups: A frequently requested feature, the Groups filter organizes all group chats in one place. This includes both standard groups and subgroups within Communities, making it easier to locate specific groups, like a family chat or a vacation planning thread.

WhatsApp noted it believes Chat Filters will empower users to stay organized, prioritize important conversations, and navigate their message history with greater ease.

The company also hinted at plans to develop additional features to further enhance the user experience.

“We believe filters will make it easier for people to stay organized and find their most important conversations and help navigate through messages more efficiently. We’ll continue to build more options to help you focus on what matters most.”

The Chat Filters update is rolling out globally and will be available to all users in the coming weeks.

From B2B Sales Software to Social Commerce Powerhouse: The Story of MarketForce’s Evolution

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Tesh Mbaabu, co-founder of the Kenyan tech startup MarketForce, recently penned a heartfelt blog post reflecting on the company’s journey, marked by both triumphs and stumbles.

MarketForce, initially envisioned as a sales force automation solution for consumer brands, has undergone a significant pivot, emerging as a key player in Africa’s booming social commerce landscape.

Mr Mbaabu describes the initial iteration of MarketForce, launched in 2018, as a struggle. While the concept held promise, the business model proved unsustainable due to slow growth, lengthy sales cycles, and a reliance on venture capital in a difficult funding environment.

“We bootstrapped for a year and a half before finally convincing friends, family, and angels to inject $200K in seed capital — most of them entering the world of venture capital (VC) investing for the first time. Just as we finished raising, the world went into crisis around COVID-19, nearly killing our business,” the co-founder noted, adding: “We lost most of our recurring revenue when the pandemic hit, and our largest client threatened to pull out in favour of building the software internally to reduce costs. When we weighed the options, we knew we would only survive if we redefined the business. We pivoted from a SaaS company selling enterprise software to large FMCGs/Financial Institutions to a B2B marketplace directly serving neighbourhood merchants.”

Faced with these challenges, Mr Mbaabu and his co-founder Mesongo Sibuti made a bold decision in 2020. They pivoted the company from B2B enterprise software to a B2B marketplace platform called RejaReja, catering directly to neighborhood merchants.

This shift proved successful, attracting investment from Y Combinator and enabling rapid expansion.

“This gave us the much-needed boost to officially launch RejaReja, our B2B e-commerce platform that rapidly grew and enabled us to raise an additional $2M for product development and geographic expansion in 2021, followed by a significant Series A investment in 2022.”

RejaReja empowered merchants by transforming them into one-stop financial service shops, boosting their earnings and tackling last-mile distribution hurdles.

“In just 3 years, we expanded our footprint to 21 cities across 5 countries: Kenya, Nigeria, Uganda, Tanzania, and Rwanda, creating over 800 jobs and serving over 270,000 merchants. During that period, we have delivered just shy of 1 million orders, amounting to over $160 million in gross transaction volume on RejaReja alone.”

However, even RejaReja encountered difficulties.

The B2B distribution segment’s razor-thin margins and fierce price competition threatened profitability.

After attempting various tweaks, Mr Mbaabu and Mr Sibuti were forced to acknowledge the limitations of the model.

The story doesn’t end there. Mr Mbaabu emphasizes the importance of learning from failures and highlights the valuable lessons gleaned from the RejaReja experience.

He acknowledges missteps regarding venture capital dependence and the need for a laser focus on customer dollars.

“But in our bid to scale quickly, we did not realise that we were treading in new territory or anticipate the “funding winter” that would strike later that year. This taught us a very hard, painful lesson. Venture capital is not for good, or even great, companies. It’s for companies that are so excellent that they produce outsized returns at the right time in the right market. We got this completely wrong, and it hurt us when the committed capital didn’t fully come through. Now we know that every dollar a startup can raise is a gift. It should never be the life-blood of the business.”

This brings us to the “next chapter” for Mbaabu and Sibuti.

Leveraging their expertise and the learnings from MarketForce, they’ve joined forces with another startup, Chpter.

Founded in 2021 by Mark Muchiri and Kuria Gakuru, Chpter provides an AI-powered conversational commerce platform specifically designed for social media merchants.

Mr Mbaabu recognizes the massive potential of social commerce in Africa, where platforms like Facebook, Instagram, and WhatsApp are dominant e-commerce channels.

However, he highlights the inefficiencies inherent in these platforms for managing the entire online shopping experience.

Chpter aims to bridge this gap by offering features like automated conversations, marketing tools, and integrated payments, all within a single platform.

With Chpter, Mbaabu and Sibuti are on a mission to empower one million African merchants to maximize profits and thrive in the digital age.

Currently operational in Kenya and South Africa, Chpter has already seen success in boosting merchants’ revenue through social media channels.

Mbaabu’s story offers valuable insights for aspiring entrepreneurs. He underscores the importance of resilience, embracing failure as a learning opportunity, and the courage to pivot when necessary.

MarketForce’s evolution exemplifies the adaptability required to navigate the dynamic African tech scene and the significant potential of social commerce in empowering African businesses.

Telegram Nearing One Billion Users, Founder Says App Should Remain Neutral

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Telegram, the encrypted messaging app, is expected to reach one billion monthly active users within a year, according to its founder Pavel Durov.

According to reports by Reuters, Mr Durov, a Russian billionaire, made the comments in a recent interview with US journalist Tucker Carlson.

“We’ll probably cross one billion monthly active users within a year now. Telegram is spreading like forest fire,” Mr Durov said.

Telegram, known for its focus on privacy and security, has grown rapidly in recent years.

The app currently boasts 900 million active users and is particularly popular in Eastern Europe and the former Soviet Union.

Mr Durov emphasized Telegram’s commitment to neutrality, stating it should not be a “player in geopolitics.”

He highlighted the app’s use by both governments and opposition groups, suggesting open communication is key to progress.

Durov, who clashed with Russian authorities over content moderation on his previous social media platform VK, addressed concerns about government pressure. He reiterated his belief in a neutral platform and stated Telegram will not take sides in political conflicts.

The Telegram founder also criticized major tech companies like Apple and Google, accusing them of stifling free speech through app store guidelines.

Telegram’s choice of Dubai as its headquarters stems from a desire for a neutral location. Durov explained Dubai’s lack of alignment with superpowers makes it an ideal environment for a platform promoting open communication.

Looking ahead, Durov expressed his hope that Telegram can continue fostering open dialogue, even in the face of challenges from governments and competitors.

Threads Tests “Recent” Filter to Improve Real-Time Search Functionality

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In a move to appease users frustrated with outdated search results, Meta’s social media app Threads is testing a new filter for real-time searches.

The feature, currently limited to a small group of users, allows them to prioritize recently posted content over algorithm-driven “Top” results.

Threads, often seen as a competitor to Twitter, has faced criticism for its search functionality.

Previously, searches displayed content based on engagement metrics, making it difficult to find the latest updates on breaking news or trending topics.

This limited test of a “Recent” filter suggests Meta is acknowledging user concerns and exploring ways to improve the app’s real-time capabilities.

Threads Chief Executive Officer (CEO) Adam Mosseri confirmed the test on social media, stating it aims to “make it easier to find relevant search results in real-time.”

Kenyan InsurTech Startup Pula Secures $20 Million to Expand Insurance for African Farmers

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Pula, a Kenyan insurtech company, has raised $20 million in Series B funding to expand its mission of providing smallholder farmers across Africa with access to affordable insurance.

Led by global investment manager BlueOrchard, the funding round also saw participation from the International Finance Corporation (IFC), the Bill & Melinda Gates Foundation, Hesabu Capital, and existing investors.

Pula aims to use the fresh capital to achieve its “triple 100 vision”: insuring 100 million smallholder farmers against threats like pests, diseases, and extreme weather. Founded in 2015, Pula offers insurance through a network of over 100 partners, reaching farmers in 22 countries.

The company leverages a digital platform to analyze historical data and design customized insurance products. Partnerships with organizations like the World Food Programme and governments like Zambia’s demonstrate Pula’s commitment to agricultural resilience.

Pula recently announced an $800,000 payout to Ethiopian farmers battling wheat rust disease, highlighting its role in supporting farmers during crises.

“We are excited about the potential growth this funding unlocks,” said Pula’s Chief Executive Officer (CEO) Thomas Njeru. “This is a pivotal moment in accelerating our reach and impact.”

With a proven track record and high customer retention rates, Pula plans to expand its livestock insurance offerings following a successful pilot program in Nigeria.

This recent funding round positions Pula to further empower African farmers and strengthen the continent’s agricultural sector.