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Tunji Andrews is Championing Financial Inclusion for Africa’s Informal Workforce Through Innovation and Advocacy

Tunji Andrews is Championing Financial Inclusion for Africa’s Informal Workforce Through Innovation and Advocacy

Tunji Andrews is a renowned Nigerian economist, financial literacy advocate, entrepreneur, and media personality, whose work focuses on demystifying economics and promoting financial inclusion, particularly for Africa’s underserved informal workforce.

With over a decade of experience in economics and finance, Tunji has become a respected figure in the Nigerian financial ecosystem for his ability to communicate complex economic concepts in a relatable and accessible manner.

He is dedicated to solving critical socio-economic challenges in Africa, primarily through increasing financial literacy and creating inclusive financial solutions.

Tunji’s journey into economics and financial advocacy began with his academic background in economics.

He developed a passion for financial empowerment early in his career, realizing the massive gap in financial literacy across Nigeria and other parts of Africa.

As he gained experience in both the private and public sectors, he became increasingly focused on addressing the barriers that prevent many Africans, particularly in the informal sector, from accessing financial services and securing a stable financial future.

Andrews is the co-founder of Awabah, a fintech company that provides pension solutions tailored for Africa’s informal workforce.

In Africa, over 80% of the working population is employed in the informal sector, where traditional pension schemes and social safety nets are largely inaccessible.

Awabah was created to address this significant gap by offering flexible pension plans for informal workers, ensuring they can save for retirement despite their irregular income streams.

Through Awabah, Tunji is working to bring financial security to millions of Africans who have been historically excluded from formal financial systems.

By leveraging digital technology and developing easy-to-use platforms, Awabah enables informal sector workers to plan for their retirement, making it possible for more people to achieve long-term financial stability.

Beyond financial literacy, Tunji is also an advocate for economic policy reforms that promote financial inclusion and sustainable development.

He regularly participates in discussions on Nigeria’s economic future, engaging with policymakers, financial institutions, and the private sector to advocate for reforms that support a more inclusive financial system.

Tunji has been involved in multiple forums and roundtable discussions aimed at addressing the challenges of Nigeria’s economy, including unemployment, inflation, and the impact of fiscal policies on everyday citizens.

His work has garnered recognition both within and outside Nigeria.

He has received awards for his contributions to financial literacy and fintech innovation, particularly for his efforts with Awabah in bringing pension solutions to Africa’s informal workforce. Some of his notable achievements include:

In 2022, he was feted with the Financial Inclusion Award for his work with Awabah in providing pension solutions to informal workers across Nigeria.

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Egypt-Based Micromobility Startup Rabbit Mobility Raises $1.3 Million to Drive Expansion in North Africa

New Investments

Egypt-Based Micromobility Startup Rabbit Mobility Raises $1.3 Million to Drive Expansion in North Africa

Egypt-based micromobility startup Rabbit Mobility has successfully secured $1.3 million in a fresh investment round aimed at accelerating its expansion across Egypt and North Africa.

The round was led by venture capital firm 500 Global, alongside Untapped Global, known for its expertise in smart asset financing, with participation from a number of local and international angel investors.

This funding marks a key milestone for Rabbit Mobility, aligning with its goal of promoting sustainable urban mobility solutions.
The startup’s mission centers on providing eco-friendly transportation options designed to reduce traffic congestion and environmental pollution in Egypt’s densely populated cities.

Founded in 2020 by Kamal ElSoueni (CEO), Mohamed Mansoury, and Bassem Magued, Rabbit Mobility offers electric scooters and bikes as a cleaner, more convenient alternative for urban commuters.

ElSoueni emphasized the importance of the investment, stating, “It will enable us to scale our growth, expand our fleet, and enhance the user experience, making micromobility more accessible across Egypt.”

Since its launch, Rabbit Mobility has achieved notable success, completing over one million rides and growing its user base to 400,000 within the past five months.

The company also introduced its locally assembled Gen 2 scooters, and more recently, it has tripled the size of its fleet, reflecting the rising demand for micromobility solutions in Egypt.

With this latest investment, Rabbit Mobility aims to further strengthen its position in Egypt’s micromobility market and extend its reach into other North African countries.

The funds will be used to expand the availability of its electric scooters and bikes, addressing urban transport challenges while contributing to a greener future.

David Kleiterp, Co-Head of Investments at Untapped Global, expressed confidence in Rabbit Mobility’s ability to continue scaling and growing sustainably, highlighting the potential for the startup to achieve profitability by the end of 2024.

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