The accelerator scoured the African tech ecosystem to identify startups at the forefront of AI innovation, and selected a diverse group that spans various industries and regions.

Out of the 12 startups in the FA23 cohort, nine are Nigerian, and one each from Kenya, Tanzania, and Ghana.

The selected startups are:

Fintech:

1. Zeeh Africa – a Nigerian AI-powered open banking platform connecting businesses to financial data.
2. Cotrust Equity – the Uber for micro-lending in Africa.
3. Wallx – a payment and business solution for small business owners, the company is also a Nigerian founded, based in Lagos.
4. Moosbu – an all-in-one AI-Powered Operating System for small African businesses.
5. Aibanc – a Nigeria-based lending firm that allows customers to access credit through a mobile app.
6. Greenbii – an AI-driven asset financing and software management platform for SMEs.

Healthtech:

7. Zendawa Africa – a Kenyan healthtech service provider that is enabling neighborhood pharmacies to sell online.
8. 10mg Pharma – a Nigerian healthtech that employs an AI algorithm based on the code tree model to pair healthcare providers with financing partners who meet specific criteria.

Others:

9. Sumundi (eCommerce) – an eCommerce platform for Africa’s retail businesses based in Ghana.
10. Trucki (Logistics) – a Lagos-based logistics startup leveraging blockchain and AI to provide a haulage infrastructure that connects cargo stakeholders.
11. KCG Aquatec Fish Farming (Agritech) – a Tanzanian startup that is providing aquaculture infrastructure for fish farmers.
12. Orange VFX.

The FAST Accelerator is backed by tech giant Microsoft, which has pledged substantial resources to support these startups on their journey to harness AI for positive societal impact.

Through the program, these companies will gain access to cutting-edge technologies, mentorship, funding opportunities, and the chance to collaborate with industry experts.

The FAST Accelerator’s AI program aligns with the broader mission of supporting African startups in overcoming barriers to success.

By providing access to resources and expertise, the program seeks to empower entrepreneurs to create solutions that address pressing issues in their respective countries and regions.

Under the deal, MicroEnsure will rebrand as Turaco Ghana and retain the expertise of the existing team and leadership.

The acquisition is part of Turaco’s plan to expand its reach and deepen the penetration of affordable insurance across Africa.

MicroEnsure Ghana is a leading microinsurance provider in Ghana with a strong track record of providing innovative and affordable insurance products to low-income earners and small businesses.

The acquisition is expected to benefit both Turaco and MicroEnsure Ghana’s customers. Turaco will leverage MicroEnsure Ghana’s expertise and distribution network to reach more customers and offer a more comprehensive range of products.

MicroEnsure Ghana’s customers will benefit from Turaco’s tech-driven platform, improving the efficiency and convenience of their insurance experience.

MicroEnsure Ghana is Turaco’s second acquisition in the past year, having acquired Kenyan microinsurance provider Maisha Microfinance Bank in 2022. The acquisi

Leading investors, including AfricInvest, Partech, and LeapFrog Investments, back Turaco. The company has raised over $50 million in funding to support its growth and expansion plans.

The acquisition of MicroEnsure Ghana is expected to have a positive impact on the insurance industry in Ghana and across Africa.

Turaco’s tech-driven platform and focus on innovation will help to make insurance more accessible and affordable for low-income earners and small businesses.

The acquisition will also help to deepen the penetration of insurance in Africa.

Insurance penetration in Africa is currently very low, at around 3%.

The Move is a zero-emission vehicle designed to provide a comfortable and efficient transportation solution for urban and rural communities.

The Move is equipped with a 170 kWh battery pack that gives it a range of up to 200 kilometers on a single charge.

It can accommodate up to 51 passengers and features ergonomic seats, spacious aisles, and a low-floor entry for easy access.

The bus is also equipped with various safety features, including a collision warning system, lane departure warning system, and automatic emergency braking system.

ROAM has partnered with several local companies to develop and produce the Move, including Kenya Vehicle Manufacturers (KVM), Associated Vehicle Assemblers (AVA), and East African Portland Cement (EAPCC). The bus is assembled at KVM’s factory in Thika, Kenya.

The Move is a significant development for Kenya’s transportation sector.

It is the first all-electric shuttle bus to be built in Kenya, and it represents a significant step forward for the country’s efforts to reduce its carbon footprint.

The Move is also expected to create jobs in the local economy and support the growth of Kenya’s EV industry.

In addition to its environmental and economic benefits, the Move also offers several advantages over conventional diesel-powered shuttle buses.

Electric buses are quieter and cleaner and require less maintenance than diesel buses. This makes them a more attractive option for operators and passengers alike.

ROAM plans to deploy the Move on several routes in Kenya in the coming months. The company is also exploring opportunities to export the bus to other African countries.

The introduction of the ROAM Move is a major milestone for Kenya’s transportation sector and the country’s efforts to combat climate change.

It is a testament to the country’s growing expertise in EV technology and its commitment to sustainable development.

Under the agreement, MCV will start manufacturing electric bus bodies for Volvo’s city and intercity buses.

The first buses are expected to be delivered to European customers in the first quarter of 2025.

The agreement is a significant boost for Egypt’s automotive sector, which is rapidly growing.

Egypt is already a significant exporter of vehicles and components, and the new partnership with Volvo will help Volvo further expand the country’s electric vehicle industry.

The agreement is also a sign of Volvo’s commitment to sustainable transportation, having pledged to go all-Egypt’sc by 2030.

“MCV’s work will enable us to offer a complete range of Volvo city and intercity buses in the premium segment. MCV is an ideal partner with the skills and capacity country’she high demands of our European customers,” explains Dan PettVolvo’s Vice President of Volvo Cars.

The agreement between Volvo Cars and MCV has a number o“MCV’sfits for both companies and for Egypt as a whole:

For Volvo Cars, the agreement will provide access to a new and growing market for electric buses as it continues with its mission to reduce its carbon footpri”t.

For MCV, the agreement will provide access to new technologies and expertise from Volvo Cars. MCV is already a leading manufacturer of buses in Egypt, and the agreement will help the company expand its product range and enter new markets.

The agreement is a sign of Egypt’s growing importance as a destination for foreign investment and manufacturing.

The partnership aims to bridge the financial gap in the MSME sector in Egypt by offering a range of products and services tailored to their various needs.

Qardy is an online lending marketplace that connects MSMEs with lenders, while Sandah is a for-profit microfinance company that provides loans to small businesses.

The partnership between Qardy and Sandah is expected to benefit a large number of MSMEs in Egypt.

MSMEs account for over 90% of the country’s private sector employment and contribute significantly to the economy.

However, many MSMEs struggle to access financing from traditional banks and other financial institutions.

The Qardy-Sandah partnership is expected to make it easier and faster for MSMEs to get the loans they need to grow their businesses.

Benefits of the partnership for MSMEs:

The partnership between Qardy and Sandah is expected to offer a number of benefits to MSMEs in Egypt, including:

– Increased access to financing: The partnership will make it easier and faster for MSMEs to get the loans they need to grow their businesses.

– A wider range of financial products and services: The partnership will offer MSMEs a wider range of financial products and services tailored to their specific needs.

– More competitive interest rates: The partnership is expected to lead to more competitive interest rates on loans for MSMEs.

– Improved customer service: The partnership will provide MSMEs with access to a wider network of branches and customer service representatives.

The fund was oversubscribed, with strong demand from both commercial and development investors.

The lead investors in the fund are IFC, Proparco, FMO, and the French private equity firm LBO France. Other investors include CDC Group, Proparco’s managed account for French institutional investors, and several family offices.

Joliba Fund, I will invest in SMEs in West Africa that are growing rapidly and have the potential to create jobs and contribute to economic development. The fund will focus on sectors such as manufacturing, agribusiness, and services.

Joliba Capital was founded in 2019 by Mamadou Diallo, a former investment banker with Goldman Sachs. The firm has offices in Abidjan and Lagos.

The closing of Joliba Fund I is a significant milestone for the private equity market in West Africa.

It is the largest fund to be raised for this region in recent years, and it is a sign of the growing interest in investing in African SMEs.

The fund’s success is also a testament to the hard work and dedication of the Joliba Capital team. The firm has a deep understanding of the West African market and a proven track record of investing in successful businesses.

With the closing of Joliba Fund I, Joliba Capital is well-positioned to make a significant impact on the economic development of West Africa.

The fund will help to create jobs, boost economic growth, and improve the lives of millions of people.

The partnership will allow Nigerian consumers to make secure and convenient payments using their smartphones at merchants across the country.

Google Pay is a digital wallet that allows users to store their credit and debit cards, as well as loyalty cards and gift cards.

It can be used to make payments online, in apps, and in stores.  

The partnership between Interswitch and Google Pay will make it easier for Nigerian consumers to use digital payments. 

The partnership is a significant development for the digital payments landscape in the West African country, and it is expected to boost the adoption of digital payments and help to drive economic growth.

The Partnership Overview:

The partnership between Interswitch and Google Pay is set to bring a host of innovative solutions to Nigeria’s burgeoning digital payments ecosystem.

Key components of this collaboration include:

Seamless Integration: Google Pay will be integrated into the Interswitch payment gateway, allowing users to link their Interswitch accounts with Google Pay for hassle-free transactions.

Expanded Merchant Network: Nigerian merchants will benefit from increased access to customers, as the partnership will enable them to accept payments made through Google Pay, expanding their customer base and enhancing sales opportunities.

Enhanced Security: Users can expect top-notch security measures to protect their financial information and transactions, in line with global best practices.

Cross-Border Transactions: This collaboration is expected to facilitate cross-border digital payments, easing transactions for Nigerians conducting international business and trade.

The schools will offer courses in various fields, including design, coding, entrepreneurship, and marketing.

AltSchool Africa was founded in 2018 by two Nigerian entrepreneurs with the mission to “upskill Africans for the jobs of the future.”

The new schools will be located in Lagos and Abuja, two of Nigeria’s most populous cities. The schools will have state-of-the-art facilities and will be staffed by experienced faculty.

AltSchool Africa is targeting students interested in pursuing careers in the creative and business industries. The company believes that these industries are growing rapidly in Africa and that there is a high demand for skilled workers.

In addition to the new schools, AltSchool Africa is also launching several new initiatives, including a scholarship program for students from low-income families and a startup accelerator program for aspiring entrepreneurs.

About AltSchool Africa

AltSchool Africa offers courses in a variety of fields, including design, coding, entrepreneurship, and marketing.

The tech startup is committed to providing high-quality education and training to Africans who are interested in pursuing careers in the creative and business industries.

The announcement was made by the UAE’s Minister of Energy and Infrastructure, Suhail Al Mazrouei, at the Africa Climate Summit in Nairobi, Kenya.

The investment will support a wide range of clean energy projects in Africa, including solar, wind, and hydropower.

It will also be used to develop energy storage technologies and promote energy efficiency measures.

The UAE’s investment is a significant boost for Africa’s clean energy sector.

The continent is home to some of the world’s best solar and wind resources, but it has struggled to develop these resources due to a lack of funding.

The UAE’s investment will help to unlock Africa’s clean energy potential and contribute to the continent’s efforts to combat climate change.

The UAE is not the only country that is investing in clean energy in Africa. Other countries, such as the United States, China, and the European Union, have also pledged billions of dollars to support Africa’s clean energy transition. This growing investment is a sign of the increasing importance of clean energy in Africa and the world.

The UAE’s investment also reflects the country’s commitment to clean energy. The UAE has set a goal of generating 44% of its electricity from
clean sources by 2050.

The country has already made significant progress towards this goal, and the investment in Africa will help to accelerate the transition to clean energy.

In addition to the $4.5 billion investment, the UAE also announced at the Africa Climate Summit that it would join the Africa Carbon Markets Initiative (ACMI).

The ACMI platform aims to create a market for carbon credits in Africa. The UAE’s participation in the ACMI will help to support the development of carbon markets in Africa and help the continent meet its climate goals.

The UAE’s commitment to clean energy in Africa is a significant step forward for the continent.

The investment will help to accelerate Africa’s transition to clean energy and contribute to the fight against climate change. It is also a sign of the UAE’s growing leadership on climate change issues.

The UAE’s investment in clean energy in Africa is a positive development for the continent and the world. It is a sign of the UAE’s commitment to clean energy and its willingness to play a leading role in the fight against climate change.