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Esther Ndeti is Pioneering Inclusive Financing for African SMEs and Redefining Investment in East Africa

Esther Ndeti is Pioneering Inclusive Financing for African SMEs and Redefining Investment in East Africa

Esther Ndeti is a Kenyan mechanical engineer, investment leader, and influential figure in the African business landscape.

Currently serving as the Managing Partner at Unconventional Capital (Uncap), leading a €30 million fund dedicated to pioneering new financing approaches tailored for early-stage small and medium-sized enterprises (SMEs) across Africa.

Uncap, which specializes in providing non-dilutive, revenue-based financing, seeks to unlock funding for high-potential African entrepreneurs who have historically faced barriers in accessing traditional venture capital.

Through this innovative model, Esther is working to empower SMEs that are often overlooked by traditional financing, bridging crucial gaps in the region’s investment ecosystem.

Previously, she served as the Investment Principal at Uncap in its Munich and Nairobi offices.

Before her tenure at Uncap, she held the role of Executive Director at the East Africa Private Equity & Venture Capital Association (EAVCA).

Under her leadership, EAVCA grew its influence, launching initiatives that strengthened East Africa’s private equity landscape and supported cross-border investment strategies.

She spearheaded the establishment of EAVCA’s first regional office in Uganda, further demonstrating her commitment to creating a cohesive investment ecosystem within East Africa.

Esther was also instrumental in scaling EAVCA’s thought leadership platform, encouraging dialogue on the role of private equity in regional development, and fostering an environment conducive to investment in East Africa’s emerging markets.

She began her career in business coordination and management, where she gained foundational experience as the regional coordinator at the Aspen Network of Development Entrepreneurs (ANDE).

Her background also includes extensive experience in business management and coordination, which has given her a broad understanding of African markets and the unique challenges they present to entrepreneurs and investors alike.

Esther’s influence extends beyond her direct professional roles; she has consistently advocated for women in leadership, financial inclusion, and innovative funding models.

Her commitment to advancing these causes has earned her recognition in Kenya’s business community and beyond.

In 2018, Business Daily Africa honored her as one of Kenya’s Top 40 Under 40 Women, celebrating her leadership, visionary approach, and contribution to expanding the boundaries of traditional finance in Africa.

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Mastercard and Diamond Trust Bank (DTB) Partner to Enhance Digital Payments in East Africa

New Investments

Mastercard and Diamond Trust Bank (DTB) Partner to Enhance Digital Payments in East Africa

Mastercard and Diamond Trust Bank (DTB) have entered into a significant 10-year agreement aimed at expanding digital payment solutions across Kenya, Uganda, and Tanzania.

This long-term partnership intends to elevate the digital banking experience for individuals and businesses throughout East Africa.

A central focus of the collaboration will be to deliver innovative, secure, and user-friendly payment solutions.

Mastercard and DTB also plan to introduce passive payment wearables powered by tokenization, making Kenya the first in the region to implement this contactless payment technology.

Developed with Tappy Technologies, these new tokenization-based payment wearables enable consumers to make secure, tap-to-pay transactions using wearable devices at any compatible point-of-sale terminal.

Tokenization replaces sensitive payment information with encrypted tokens, ensuring secure transactions by safeguarding cardholder data.

“We are thrilled to collaborate with Diamond Trust Bank and Tappy Technologies to launch these game-changing innovations,” said Mark Elliott, Division President for Africa at Mastercard.

“By combining our expertise in digital payment solutions with DTB’s strong market presence, we are enhancing the banking experience and providing customers with more secure and convenient ways to pay. This collaboration underscores our commitment to driving digital transformation and financial inclusion across East Africa.”

The partnership marks a significant milestone in digital transformation efforts within the region, enhancing the convenience and security of everyday transactions through advanced payment technology.

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Visa Strengthens African Digital Economy with Investments in Four Fintech Startups

New Investments

Visa Strengthens African Digital Economy with Investments in Four Fintech Startups

Visa has announced investments in four fintech startups that recently graduated from its Africa Fintech Accelerator program.

This initiative aligns with Visa’s ambitious $1 billion commitment to support Africa’s digital economy by 2027.

The chosen startups – Oze, Workpay, OkHi, and ORDA – are tackling distinct challenges within the continent’s financial landscape.

Ghana-based Oze, one of the four, provides digital tools and embedded finance products tailored for small and medium enterprises (SMEs).

Oze’s offerings include a machine-learning-powered loan management system designed to streamline operations for financial institutions. =

Meanwhile, Kenya’s Workpay provides cloud-based HR and payroll solutions, extending its services to 35 African nations.

Nigeria’s OkHi offers a digital address verification system, and ORDA, also with a strong presence across Nigeria, Kenya, and South Africa, has developed cloud-based management software used by over 1,500 restaurants.

“These investments demonstrate Visa’s dedication to fostering innovation in Africa,” stated Godfrey Sullivan, Senior Vice President of Products, Partnerships, and Digital Solutions at Visa CEMEA.

“By supporting these remarkable fintech entrepreneurs, we’re working together to shape the future of digital payments on the continent.”

Launched in 2023, Visa’s Africa Fintech Accelerator has already empowered 45 startups through a robust 12-week curriculum that includes training, mentorship, and networking.

The accelerator’s third cohort began today in Abidjan, gathering 20 new digital innovators. More than just financial support, Visa’s involvement provides strategic guidance and credibility for these startups.

Workpay’s CEO, Paul Kimani, highlighted the importance of Visa’s backing: “Visa’s support pushes us closer to our goal of delivering innovative solutions and enhancing backend processes across Africa.”

The program has attracted attention from major tech firms, with Amazon Web Services (AWS) offering free cloud resources to participants.

The second cohort of startups is preparing for a Demo Day on December 2 in Cape Town, where they will present to venture capitalists, angel investors, and potential business partners.

Visa has hinted that additional investments and partnerships with program graduates are in the pipeline, signaling a bright future for Africa’s fintech landscape.

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Nigeria Partners with Moroccan Firm to Boost Local Electric Vehicle Production

Key Developments

Nigeria Partners with Moroccan Firm to Boost Local Electric Vehicle Production

Nigeria is advancing its electric vehicle (EV) industry through a strategic partnership with a Moroccan company, aiming to drive local manufacturing and reduce dependence on imported vehicles.

The collaboration, championed by Nigeria’s National Automotive Design and Development Council (NADDC), is expected to bolster the nation’s automotive sector with a focus on electric and gas-powered vehicles, alongside developing EV infrastructure.

Joseph Osanipin, Director-General of NADDC, unveiled the partnership during the recent Nigeria-Morocco business forum.

He underscored the initiative’s potential to foster local component manufacturing and strengthen Nigeria’s automotive industry.

“We have identified electric vehicle products that can be manufactured in Nigeria and exported to Morocco,” Osanipin explained, highlighting the mutual benefits of the partnership.

A delegation led by Osanipin visited key automotive facilities in Morocco, including the National Center for Homologation and multiple local firms.

The team held discussions with E-move Vehicles Company, a significant player in energy storage systems, specializing in electric motorcycles, tricycles, and batteries.

They also explored collaboration possibilities with Univers Acier Steel, a prominent supplier of automotive parts.

The Nigerian delegation also toured Cetiev, a Moroccan technology partner for automotive innovation, and reviewed six test centers spanning various sectors.

According to Osanipin, the goal is to replicate Morocco’s success in Nigeria, promoting local production, enhancing technical skills, and contributing to economic growth and sustainability.

“Their expertise in battery manufacturing and economical EVs is especially valuable. Producing these products locally will support Nigeria’s transition to sustainable mobility and create jobs,” Osanipin concluded.

This collaboration marks a significant step toward Nigeria’s vision for a self-sustaining automotive industry, with the potential to position the country as a regional leader in EV production and green technology.

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