Day: December 11, 2023

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Ghanaian Agritech 3Farmate Robotics Secures Funding to Drive AI-Powered Agricultural Revolution

New Investments

Ghanaian Agritech 3Farmate Robotics Secures Funding to Drive AI-Powered Agricultural Revolution

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Ghanaian agritech trailblazer 3Farmate Robotics has secured an undisclosed amount in angel investment to fuel the expansion of its precision AI-powered electric robots.
 
The investment was facilitated by Alliance4ai.org, an Africa-based AI organization dedicated to empowering innovators tackling critical challenges in the field.

3Farmate Robotics leverages cutting-edge robotics and artificial intelligence to empower farmers with tools that enable efficient and cost-effective farm operations.
 
3Farmate Robotics aims to democratize access to advanced AI-powered robots, equipping farmers with capabilities that enhance productivity, elevate their skills, and build resilience against the ever-evolving challenges of food production.

What sets 3Farmate Robotics apart is its groundbreaking technology, driven by state-of-the-art advancements in computer vision, deep learning, and advanced state estimation algorithms.
 
These robots transcend conventional methods reliant solely on GPS for navigation, demonstrating exceptional precision in navigating dynamic farm environments.
 
This unique capability allows them to execute seed planting, fertilizer application, and mechanical weeding with unparalleled accuracy, ushering in a new era of unprecedented farming efficiency.
 
 

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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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BOAD Launches Climate Study Fund to Bolster Resilience in 8 African Countries

Key Developments

BOAD Launches Climate Study Fund to Bolster Resilience in 8 African Countries

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Responding to the critical need for climate resilience across Africa, the West African Development Bank (BOAD) has announced the launch of the Climate Study Fund.
 

The initiative aims to provide vital financial support for climate change adaptation and mitigation projects in eight West African nations: Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal, and Togo.

The Climate Study Fund will offer grants to fund feasibility studies, technical assistance, and capacity-building activities related to climate-resilient infrastructure development and green growth initiatives.

The fund seeks to unlock larger investments in climate-smart solutions and accelerate the region’s transition to a low-carbon economy.

The Climate Study Fund aligns with BOAD’s broader climate finance strategy, which aims to mobilize €1.5 billion by 2025 to support climate-related investments across its member states.

The bank recognizes the disproportionate impact of climate change on West Africa, which is characterized by increased droughts, floods, and rising sea levels.

These challenges threaten food security, water availability, and economic development, highlighting the urgent need for effective climate action.

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Pan-African Fintech Flutterwave Acquires Money Transfer Licences for 13 States in the US to Facilitate Remittances for the African Diaspora

Key Developments

Pan-African Fintech Flutterwave Acquires Money Transfer Licences for 13 States in the US to Facilitate Remittances for the African Diaspora

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Pan-African fintech leader Flutterwave has acquired 13 new money transmission licenses in the United States, significantly expanding its reach in the crucial cross-border payments market.
 

With these licenses, Flutterwave can now facilitate remittances to and from approximately 29 US states through its popular Send App, enhancing accessibility for the African diaspora and businesses operating across the Atlantic.

“Acquiring these licenses strengthens our regulatory footprint and demonstrates our commitment to providing safe, reliable, and compliant financial services,” said Stephen Cheng, Executive Vice President for Global Expansion and Partnerships at Flutterwave.

This significant development comes four months after Flutterwave’s initial expansion into the US cross-border payment market.

Flutterwave’s proactive approach to acquiring licenses aligns with its strategy to solidify its position in the remittance space, particularly following regulatory challenges encountered in Kenya last year.

In recent months, the company secured International Money Transfer Operator (IMTO) licenses in Malawi and Rwanda and partnered with IndusInd Bank to launch Send App in India.

Flutterwave’s strategic acquisitions and partnerships position the company as a major player in the US-Africa remittance landscape.

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