The partnership was announced at a recent event held in Lagos, co-hosted by both organizations.

“Securing funding is a major hurdle for many African tech entrepreneurs,” said Dickson Nsofor, CEO of Kora.

“Through this partnership with Panache Ventures, we aim to bridge that gap by offering mentorship, funding guidance, and fostering collaborations that will empower groundbreaking startups to reshape Africa’s technological landscape.”

Founded in 2017, Kora simplifies cross-border transactions within Africa. Their payment gateway allows businesses in countries like Kenya, Ghana, and Nigeria to accept payments in local currencies, regardless of the customer’s location.

Kora’s solutions extend beyond basic payments, catering to industries like gaming, hospitality, and e-commerce.

Notably, their USD card-acquiring feature, launched in March 2023, enables merchants to accept payments in US dollars.

Kora’s international presence is further solidified by their UK office, established in partnership with the West Midlands Growth Company in 2022.

Prashant Matta, General Partner at Panache Ventures and lead investor for Kora, also spoke at the event.

He highlighted the vibrant entrepreneurial spirit within Africa’s tech sector and emphasized the importance of fostering collaboration and knowledge-sharing to empower innovative startups across the continent.

This collaboration aims to equip women with the tools and resources needed to grow their businesses and create jobs in the region.

Women Choice, a global organization dedicated to women’s professional and personal development, launched a pilot program in 2023.

Mastercard, a leader in financial services, has a long history of supporting women through digital tools, training programs, mentorship opportunities, and networking events.

Building on this shared commitment, the two organizations are launching two new initiatives: ImpactHer and EmpowerHer.

These programs will provide comprehensive support to women entrepreneurs, including training, mentorship, and resources to help them achieve success.

This will ultimately empower them to create job opportunities for other women in their respective fields.

“At Mastercard, we’re dedicated to fostering a more inclusive and equitable world where everyone has the chance to prosper,” said Amnah Ajmal, Executive Vice President, Market Development, EEMEA, at Mastercard.

“Our expanded partnership with Women Choice will significantly impact women in the workforce across the region. We’ll equip women entrepreneurs with the tools, resources, and skills they need to thrive and drive economic growth.”

“We’re thrilled with the positive outcomes of the 2023 program launched with Mastercard,” said Nezha Alaoui, Founder and CEO of Women Choice.

“We’re excited to see the partnership flourish in 2024. Our focus now is on scaling the impact. Empowering women in the workplace and supporting women-led businesses is crucial for driving economic growth and prosperity in the Middle East and Africa.”

This expanded partnership between Mastercard and Women Choice has the potential to significantly impact the lives of women entrepreneurs across Africa and the Middle East.

By providing them with the necessary support, the program can help them build successful businesses and create job opportunities, ultimately contributing to the economic growth of the region.

This initiative aims to foster a robust local EV ecosystem, reduce emissions, and lessen reliance on fossil fuels.

The policy, championed by the Ministry of Roads and Transport in collaboration with the Ministry of Trade and Investment, outlines plans to:

• Incentivize Domestic EV Production: The government will set zero-emission vehicle (ZEV) sales targets and establish investment criteria for local car manufacturers and assemblers to qualify for government support. This includes requiring the gradual use of locally sourced materials in EVs, promoting domestic manufacturing and assembly.

• Develop a Skilled Workforce: Recognizing the current gap in technical expertise, the policy includes the creation of an e-mobility curriculum for relevant university programs to address the future workforce needs of the EV industry.

• Boost Research and Infrastructure: The government will prioritize research and development (R&D) in EVs, battery technology, and charging infrastructure. Additionally, manufacturers will be required to provide user training and manuals with their vehicles.

• Reduce Emissions and Costs: The shift to EVs is expected to significantly cut greenhouse gas emissions and the national petroleum import bill, currently standing at KSh 628.4 billion ($4.8 billion).

• Promote Public Awareness: Kenya has already begun issuing green number plates for EVs to raise public awareness and encourage widespread adoption.

This policy leverages the expertise of the private sector, international investors, and academic institutions to build a sustainable EV ecosystem.

Kenya is already home to established e-mobility players like BasiGo (EV manufacturers), CFAO Group (electric bus company), and Roam (electric buses and motorbikes).

The new policy seeks to empower such companies and create a thriving domestic EV industry.

This new visa will allow qualified individuals to live and work in the country for a set period.

To qualify for the visa, applicants must demonstrate a minimum annual income of R1 million (approximately $53,000).

There’s also good news for short-term stays which will see foreign workers present in South Africa for less than six months not subjected to income tax.

Digital nomads with this visa will enjoy benefits similar to residents, including access to healthcare and education.

This aligns with the growing trend across Africa, with countries like Cape Verde, Mauritius, Seychelles, and Namibia already offering similar programs.

The new law follows a public consultation period held in February 2024 by the Department of Home Affairs (DHA).

The proposals included the introduction of digital nomad visas alongside a point-based system for work visas.

The initiative specifically targets highly skilled individuals, particularly those in the technology sector. These remote workers can continue working for their foreign employers while residing in South Africa.

While the program offers exciting prospects, there are also potential challenges.

One concern is the implication for foreign companies, which may need to register and comply with South Africa’s PAYE tax system.

Additionally, proposed copyright law amendments could affect software development nomads by potentially jeopardizing copyright protection.

Despite these considerations, South Africa is optimistic that the digital nomad visa will stimulate the economy and strengthen its tech talent pool.

This aligns with the country’s growing tech startup scene, which has seen consistent funding since 2015, with 89 startups collectively securing over $336 million in 2021 alone.