Day: July 21, 2023

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Breaking Barriers: 30 Inspirational Women Shaping the Future of Fintech in Africa

Breaking Barriers: 30 Inspirational Women Shaping the Future of Fintech in Africa

The fintech space in Africa is growing rapidly, with the sector raising over $1.4 billion in funding in 2022.

Over the years, the region has emerged as a hotbed of innovation and progress, thanks to the relentless efforts of visionary women who are revolutionizing the financial landscape.

 

This growth is being driven by a number of factors, including the increasing availability of mobile internet, the growing middle class, and the need for financial services that are more accessible and affordable.

One can scarcely imagine the African fintech landscape without the tireless contributions of a number of trailblazing women who have helped reshape the narrative of Africa’s technological potential, paving the way for an era of financial prosperity and economic empowerment.

 

These women have shattered glass ceilings and challenged norms, proving that there are no boundaries when it comes to creativity, resilience, and ambition. Their dedication to creating transformative solutions has not only facilitated financial inclusion for millions but also paved the way for sustainable economic growth and social progress.

“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.

Empower Africa shines a spotlight on 30 who have fearlessly navigated the fintech realm, paving the way for inclusivity, accessibility, and economic empowerment across the African continent.

1. Nkiru Amadi-Emina – Founder of Pivo

2. Ife Durosinmi-Etti – CEO of Herconomy

3. Oluwatosin Olaseinde – Founder of Money Africa

4. Fara Ashiru Jituboh – Founder of Okra

5. Martha Dali Mghendi-Fisher – Founder of African Women in FinTech & Payments (AWFP)

6. Maelis Carraro – Managing Partner at Catalyst Fund

7. Delila Kidanu – Co-Founder at Koa Technology

8. Odunayo Eweniyi – Co-Founder at PiggyVest

9. Tebogo Mokwena – Founder and CEO of Akiba Digital

10. Nelly Chatue-Diop – Founder of Ejara

11. Tomilola Majekodunmi – Co-Founder/CEO at Bankly

12. Meghan McCormick – CEO & Co-founder of OZÉ

13. Hilda Moraa – Founder & CEO of Pezesha

14. Jess Anuna – Founder & CEO at Klasha

15. Abigail Komu – Okonji – Consultant, Digital, Financial & Gender Inclusion at Mosi Africa Solutions

16. Mariéme Ndiaye – Director, Merchant Sales and Acquiring, West and Central Africa Visa CEMEA

17. Faith Nkatha Gitonga – Board Member, TechnoServe

18. Nika Naghavi – Group Head of Growth at MFS Africa

19. Mélanie Keïta – Climate Fintech Founder & CEO @Melanin Kapital

20. Sharon Karuga Kinyanjui – Principal Consultant, Diaspora Bridges Advisory

21. Zeituna Mustafa – Country Coordinator, United Nations Capital Development Fund (UNCDF)

22. Lebo Mokgabudi – Financial Inclusion @ IFC

23. Patricia Zoundi Epse Yao – Founder,  KIFFPAY-CI

24. Folasade Femi-Lawal – Digital Payment Expert

25. Rose Muturi – Managing Director, East Africa at Branch International

26. Thea Sokolowski – Head of Marketing at Stitch

27. Margaret Ondeng – Product Director @Peach Payments

28. Wachera Muriu – Co-Founder of KopaCent

29. Hayley Hopwood – CRO at Paystack

30. Mariam Cassim – Chief Executive Officer: Financial and Digital Services at Vodacom Group

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MyCover.ai, a Nigerian startup specializing in insurance technology solutions, has secured $1.25 million to disrupt the traditional insurance industry in Africa

New Investments

MyCover.ai, a Nigerian startup specializing in insurance technology solutions has secured $1.25 million to disrupt the traditional insurance industry in Africa

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The investment was led by prominent venture capital firms led by Ventures Platform Fund, with participation from Founders Factory Africa and Techstars, who are making a follow-on investment.

Founded in 2021, MyCover.ai aims to disrupt the traditional insurance industry in Africa by leveraging cutting-edge technology to provide accessible, transparent, and personalized insurance products to individuals and businesses alike. This recent pre-seed funding will play a crucial role in supporting the startup’s expansion plans and advancing its mission of fostering financial inclusion across the continent.

MyCover.ai’s innovative approach to insurtech centers around harnessing the power of artificial intelligence (AI) and data analytics to create tailored insurance solutions that meet the unique needs of customers. Through their platform, users can easily access a range of insurance products, from health and life coverage to property and auto insurance, all at competitive and affordable rates.

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“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.

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Egyptian fintech startup Flash has raised $6 million in seed funding to expand its product offerings and accelerate its growth in Egypt and beyond

New Investments

Egyptian fintech startup Flash has raised $6 million in seed funding to expand its product offerings and accelerate its growth in Egypt and beyond

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The investment round was led by Addition Capital , a venture capital firm headed by former Tiger Global executive Lee Fixel, Flourish Ventures and strategic angel investors.

Founded in 2021, Flash offers cashless payment solutions through its scan-and-pay service, allowing consumers and businesses to make transactions conveniently using QR codes. The startup is on a mission to eliminate the need for cash and physical cards, providing an alternative to expensive NFC-enabled point-of-sale (POS) systems.

Flash’s flagship product is a mobile app that allows users to make and receive cashless payments at merchants across Egypt. Flash also offers a variety of other financial services, including loans, savings accounts, and insurance. With the new funding, Flash plans to expand its product offerings and accelerate its growth in Egypt and beyond. The company plans to launch new lending, savings, and insurance products.

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“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.

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Rensource Energy, one of the leading Nigerian distributed energy services companies, has secured $15 million in funding from Afrigreen Debt Impact Fund SLP

New Investments

Rensource Energy, one of the leading Nigerian distributed energy services companies, has secured $15 million in funding from Afrigreen Debt Impact Fund SLP

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The investment is set to fuel Rensource’s expansion plans and strengthen its position as a key player in the country’s solar energy market

The agreement also marks a major milestone in Nigeria’s transition towards sustainable and reliable energy sources. Rensource, known for its innovative approach to energy provision, has been at the forefront of Nigeria’s renewable energy sector. The company specializes in building and operating solar-powered micro-utilities and providing clean, affordable, and reliable electricity to underserved commercial and industrial customers.

 

The recent deal with Afrigreen Debt Impact Fund SLP signifies a significant boost for Rensource, as it will provide the necessary capital to fund the company’s expansion plans.

The $15 million investment will be utilized to scale up Rensource’s operations, improve its technological infrastructure, and strengthen its market presence across Nigeria. Afrigreen Debt Impact Fund SLP is a specialized investment vehicle focused on clean energy and sustainable development in Africa. The fund’s decision to partner with Rensource highlights the growing investor interest in the renewable energy sector in Africa.

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Empower Africa Times Newsletter

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“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.

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