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Cynthia Wandia: Kenyan Entrepreneur and Fintech Innovator Driving Financial Inclusion in Africa

Cynthia Wandia: Kenyan Entrepreneur and Fintech Innovator Driving Financial Inclusion in Africa

Cynthia Wandia is a Kenyan entrepreneur and business leader, known for her contributions to the fintech industry in Africa.

She is the co-founder and CEO of Kwara, a company that provides digital banking solutions to Savings and Credit Cooperative Organizations (SACCOs) across Africa.

Cynthia holds degrees in Electrical Engineering and Computer Science from Jacobs University in Germany.

Before founding Kwara, Cynthia gained experience in both engineering and finance.

Her technical and financial expertise has been instrumental in leading Kwara’s growth.

The company has become a key player in modernizing SACCOs, enabling them to offer digital banking services to their members. This work has played a crucial role in advancing financial inclusion in Africa.

Under Cynthia’s leadership, Kwara has expanded rapidly, securing funding from global investors.

The company has received recognition for its innovative approach to financial services.

Cynthia has also become a respected voice in the fintech community, speaking on topics such as financial technology and the importance of financial inclusion.

She is also committed to empowering women in the technology sector and frequently advocates for gender equality in business.

Through her work and advocacy, she has made a lasting impact on the financial ecosystem in Africa, particularly in the cooperative sector.

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Ecobank Announces 12 Finalists for its Fintech Challenge

New Investments

Ecobank Announces 12 Finalists for its Fintech Challenge

Ecobank, a leading pan-African banking group, has unveiled the twelve finalists vying for the US$50,000 grand prize in its seventh annual Fintech Challenge.
 

The competition, which seeks to foster innovation and partnership within the African financial landscape, attracted over 1,550 applications from 70 countries.

Forty startups initially made it to the semi-finals, with twelve ultimately selected to compete in the grand finale scheduled for September 27 in Lomé, Togo.

The event will be live-streamed on Ecobank’s social media platforms for a global audience.

Two Kenyan startups, BuuPass and Melanin Kapital Neobank, are among the finalists, alongside Nigeria’s Sawport Video Banking as a Virtual Branch and Sproutly.

The rest of the finalists are Daba Finance (Ivory Coast), EasyEquities (South Africa), Exuus (Rwanda), MiaPay (Togo), PaySika (Cameroon), PROBOUTIK (Senegal), Vaultpay (DRC) and YMO Africa (Guinea).

The Ecobank Fintech Challenge offers startups the opportunity to partner with the bank and scale their solutions across its network of 35 African countries.

The ultimate winner will receive the US$50,000 cash prize and the chance to collaborate with Ecobank.

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Gilles Kounou: Leading Tech Innovator and Advocate for Digital Transformation in Africa

Gilles Kounou: Leading Tech Innovator and Advocate for Digital Transformation in Africa

Gilles Kounou is a prominent entrepreneur and technology leader from Benin.

He has made significant contributions to the African tech sector, particularly in digital transformation and education.

He is currently the CEO of OPEN SI, a company that provides IT solutions and services aimed at enhancing digital capabilities across various industries.

Kounou’s entrepreneurial journey began with the founding of Okouabo, a startup focused on developing technology solutions for the African market.

Under his leadership, Okouabo addressed local challenges with practical and innovative technology, contributing to the growth of the tech ecosystem in Africa.

Beyond his business ventures, Kounou has been a strong advocate for digital literacy and entrepreneurship.

He has played a key role in initiatives that provide young Africans with the skills needed to succeed in the digital economy.

His efforts have also extended to the development of tech hubs and training programs, which have empowered many young people to pursue careers in technology.

Kounou’s work is driven by a commitment to making technology more accessible in Africa.

He has focused on bridging the digital divide, ensuring that more communities benefit from technological advancements.

Throughout his career, Kounou has gained recognition as a leader in the African tech space.

His influence extends beyond his businesses, as he actively engages in discussions on the future of technology in Africa.

Although specific awards and honors are not mentioned, his contributions have had a lasting impact on the continent’s digital landscape.

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Treepz Makes History as the First Corporate Mobility Startup in Africa to Complete an International Cross-Border Rental Trip

Key Developments

Treepz Makes History as the First Corporate Mobility Startup in Africa to Complete an International Cross-Border Rental Trip

Treepz, a leading African corporate mobility startup, has achieved a significant milestone by successfully completing the continent’s first cross-border rental trip between Nigeria and Benin Republic.

The historic journey, which took place between August 7 and 11, 2024, transported 96 passengers between Lagos and Cotonou.

This achievement underscores Treepz’s commitment to providing innovative and reliable transportation solutions across Africa.

The company has consistently been at the forefront of the mobility sector, having transported over 5 million passengers within its existing markets of Nigeria, Ghana, Kenya, and Uganda through its rental marketplace.

Onyeka Akumah, Founder and CEO of Treepz, expressed pride in the company’s accomplishment.

“This is a momentous occasion for Treepz. We are excited to be pioneers in cross-border transportation and to demonstrate our capacity to meet the growing demand for efficient mobility solutions across Africa,” Akumah said.

The round trip, covering nearly 1400 kilometers, involved a fleet of five well-maintained buses equipped with insurance, tracking, and communication systems to ensure passenger safety and comfort.

Beyond cross-border rentals, Treepz offers a comprehensive suite of corporate mobility services, including employee transportation, event logistics, airport transfers, and school bus shuttles.

This latest achievement solidifies Treepz’s position as a leading player in the African mobility industry, setting a new standard for cross-border transportation services.

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KawiSafi Fund Gets $10 Million Boost from AfDB for Climate Projects

New Investments

KawiSafi Fund Gets $10 Million Boost from AfDB for Climate Projects

The KawiSafi Fund is set to receive a significant boost of $10 million from the African Development Bank Group (AfDB) to support climate-focused businesses in Africa.
 
This investment, channeled through the Sustainable Energy Fund for Africa (SEFA), aims to accelerate the development and expansion of projects targeting vulnerable communities.

The $200 million KawiSafi Fund II focuses on energy transition, productivity, mobility, and logistics in sub-Saharan Africa.
 
The AfDB’s contribution will help the fund reach its target of supporting innovative African startups tackling climate change through renewable energy, clean mobility, and other essential sectors.

Amar Inamdar, Managing Director of KawiSafi Ventures, hailed the AfDB’s investment as “catalytic,” emphasizing its role in attracting additional capital to the fund.
 
João Duarte Cunha, Manager of the Bank Group’s Renewable Energy Funds Division, highlighted the fund’s importance in providing crucial financial support to businesses during a critical period of energy transition.

KawiSafi Fund I, the fund’s predecessor, has already demonstrated success through investments in companies like d.light, Bboxx, and BioLite.
 
These companies have made significant strides in the off-grid energy sector, with d.light recently securing a $176 million securitisation facility and Bboxx relocating its headquarters to Rwanda.

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Delila Kidanu: Championing Youth Empowerment and Gender Equality in Africa

Delila Kidanu: Championing Youth Empowerment and Gender Equality in Africa

Delila Kidanu is an Ethiopian professional and the current Director of Africa at ThinkYoung.

With a focus on youth empowerment and gender equality, Delila has dedicated her career to creating positive change in her community and across Africa.

Her work in youth development has had a lasting impact.

She has led programs that provide young people, especially in Ethiopia, with access to education, employment, and entrepreneurial opportunities.

These initiatives have helped many young people build better futures for themselves and their families.

Delila is also a committed advocate for gender equality.

She has played a key role in campaigns aimed at reducing gender-based violence and increasing the participation of women in leadership roles.

Her efforts have contributed to policy changes that support women’s rights in Ethiopia and beyond.

Throughout her career, Delila has worked with various international organizations, NGOs, and governments to implement sustainable development projects.

Her leadership in these projects has improved social services, healthcare, and economic opportunities for marginalized communities in Africa.

As the Director of Africa at ThinkYoung, Delila continues to lead efforts that empower young people through education, research, and advocacy.

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South Africa’s Eastgate Shopping Centre Unveils Africa’s Largest Rooftop Solar Installation

Key Developments

South Africa's Eastgate Shopping Centre Unveils Africa's Largest Rooftop Solar Installation

Eastgate Shopping Centre is set to become the proud owner of Africa’s largest registered rooftop solar installation. The final phase of the project is expected to be completed by the end of the year.
 

The ambitious undertaking involves the installation of over 13,000 solar panels across an area of approximately 28,100 square meters.

This massive solar array will generate a total of 6 megawatts of electricity, significantly reducing the shopping centre’s reliance on the grid.

The decision to invest in solar power comes in response to the ongoing load-shedding challenges faced by South Africa.

Eastgate’s parent company, Liberty Two Degrees, has committed to a sustainable future and aims to achieve net-zero carbon emissions.

“This is a monumental achievement for Eastgate and a testament to our dedication to environmental responsibility,” said Melinda Isaacs, L2D’s Developments executive.

“By reducing our carbon footprint and ensuring uninterrupted operations during load shedding, we are creating a more sustainable and resilient future for our customers, tenants, and the community.”

The completed solar installation is expected to generate substantial energy savings and contribute to a cleaner environment.

Eastgate Shopping Centre remains committed to providing a seamless shopping experience for its customers, even during challenging times.

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Open Access Energy Secures $750K Investment to Power South Africa’s Clean Energy Transition

New Investments

Open Access Energy Secures $750K Investment to Power South Africa's Clean Energy Transition

Open Access Energy (OAE), a South African energy management software startup, has secured a substantial boost to its operations.
 

The company has successfully raised $750,000 in funding from Factor E Ventures, marking the first phase of its $1.5 million seed round.

This investment comes at a critical point for South Africa, which is grappling with severe energy challenges characterized by high costs and grid instability.

OAE aims to leverage its software solutions to address these issues by optimizing the distribution and management of renewable energy.

The company’s flagship platforms, Amptera and Energypro, are designed to facilitate seamless energy transactions and improve efficiency for independent power producers (IPPs) and municipalities.

OAE’s technology promises to enhance grid stability, reduce costs, and promote sustainable energy practices by connecting renewable energy sources to areas with high demand.

“This investment is a major milestone for OAE,” said Gerjo Hoffman, CEO of the company. “It will enable us to accelerate our growth, expand our market reach, and ultimately contribute to a more resilient and sustainable energy future for South Africa.”

Factor E Ventures expressed confidence in OAE’s potential to drive the country’s energy transition.

“OAE is well-positioned to address South Africa’s energy challenges,” said Tenbite Ermias, Partner at Factor E Ventures. “We are excited to support their growth and believe they have the potential to make a significant impact.”

Founded in 2021, OAE is rapidly gaining traction in the energy management sector.
With this latest investment, the company is poised to become a key player in South Africa’s transition to a cleaner, more decentralized energy system.

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Samaila Zubairu: A Trailblazer in African Investment and Economic Development

Samaila Zubairu: A Trailblazer in African Investment and Economic Development

Samaila Zubairu is a distinguished figure in the African investment landscape, celebrated for his impactful contributions to economic development across the continent.

A native of West Africa, Zubairu’s career is marked by a deep commitment to fostering sustainable growth and creating opportunities for businesses and communities in emerging markets.

Born and raised in West Africa, he grew up in a region that is rich in cultural diversity and economic potential.

His early exposure to the challenges and opportunities within his community inspired him to pursue a career that could meaningfully impact the continent’s economic future.

Zubairu’s academic journey laid a strong foundation for his future successes. He holds a BSc in Accounting from Ahmadu Bello University, Nigeria.

This provided him with a solid understanding of financial principles, which he has applied throughout his illustrious career.

He is also a Fellow of the Institute of Chartered Accountants, Nigeria (FCA), underscoring his expertise in financial management and strategic planning.

Zubairu has built an illustrious career in the investment management sector, particularly within private equity and venture capital.

Over the years, he has held several high-ranking positions in notable organizations, where his leadership has driven significant growth and transformation.

He began his career with key roles in some of Africa’s most influential companies, serving as the Treasurer for Dangote Group and later as the Chief Financial Officer for Dangote Cement Plc.

In July 2018, he was appointed as the 3rd President and Chief Executive Officer of the Africa Finance Corporation (AFC).

This role marked a new era of leadership for the organization, as Zubairu spearheaded the development and implementation of a five-year corporate strategy focused on accelerating development impact across Africa.

The strategy’s core objectives include increasing energy access for Africans, driving the sustainable development of natural resources, enhancing transport and logistics infrastructure, supporting heavy industries, and improving telecommunications and technology access.

Under his leadership, AFC’s total assets grew exponentially from US$4.1 billion when he joined to $10.6 billion by 2022.

Despite global economic challenges, including the COVID-19 pandemic and the Russia-Ukraine conflict, AFC’s Total Comprehensive Income nearly doubled from US$118 million in 2018 to US$214 million in 2022.

Zubairu has been involved in initiatives aimed at fostering economic development across West Africa.

His work has particularly focused on critical sectors such as infrastructure, technology, and finance.

Through these initiatives, Zubairu has helped create a more conducive environment for business growth and has improved access to capital for local enterprises.

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