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The Baobab Network funds five promising startups

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The Baobab Network funds five promising startups

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The Baobab Network, a Nairobi-based accelerator and investment firm, has invested $50,000 into five promising African startups

The move significantly boosts the continent’s entrepreneurial ecosystem and reflects The Baobab Network’s commitment to supporting and nurturing innovative ventures across Africa. The Baobab Network, known for its focus on early-stage startups, provides selected entrepreneurs with mentorship, tailored training, and access to an extensive network of investors and industry experts.

 

By investing in these startups, The Baobab Network aims to foster their growth, enhance their market viability, and increase their chances of success. The five startups selected for investment demonstrate diverse solutions, addressing key challenges across various sectors.

  • Afrigility (Kenya)
  • Eazy Chain,Inc. (Togo)
  • MuduPay (Guinea)
  • ePoultry Africa (Nigeria)
  • Colis (Morocco)

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Is Fintech in Africa Ready For A New Goliath? Gain Insights On How Multichoice Group Plans To Disrupt Africa’s Payments Landscape

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Is Fintech in Africa Ready For A New Goliath? Gain Insights On How Multichoice Group Plans To Disrupt Africa’s Payments Landscape

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MultiChoice Group, Rapyd and General Catalyst have teamed up to develop an intergrated payment platform for Africa.
 

Moment has been developed to address existing challenges and complexities of financial transactions in Africa. The platform combines various payment methods into a single unified solution, including mobile wallets, card payments, and bank transfers. By consolidating these payment options, Moment aims to simplify transactions for individuals and businesses, irrespective of their location or preferred payment method.

 

Africa, with its diverse economies and varying levels of financial infrastructure, has long faced hurdles in achieving seamless and efficient cross-border transactions. The integrated payment platform seeks to overcome these challenges to enable seamless cross-border transactions, eliminating the need for multiple intermediaries and reducing transaction costs.

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Can Rwanda Break Out From Its Dependence on Agriculture? A New Innovative Platform Aims to Provide 1.5 Million Farmers With New Livelihoods and Opportunities

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Can Rwanda Break Out From Its Dependence on Agriculture? A New Innovative Platform Aims to Provide 1.5 Million Farmers With New Livelihoods and Opportunities

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Rwanda is set to launch a groundbreaking digital platform to create 1.5 million off-farm jobs.
 

The innovative initiative seeks to provide individuals with diverse income-generating opportunities and contribute to the country’s development agenda. The digital platform, which is scheduled to be unveiled by the Rwandan government in the coming months, will leverage technology to connect job seekers with a wide range of off-farm employment options.

 

This includes opportunities in e-commerce, digital services, remote work, and other emerging industries, aiming to tap into Rwanda’s growing digital economy. By harnessing the power of digital connectivity, the platform aims to bridge the gap between job seekers and potential employers, ensuring a more efficient and inclusive job market.

 

The initiative is part of Rwanda’s broader strategy to diversify its economy and reduce the country’s dependency on agriculture as the primary source of employment. The launch of this digital platform aligns with Rwanda’s commitment to leveraging technology and innovation to drive socioeconomic progress.

Over the years, the country has made significant strides in digital transformation, positioning itself as a hub for technological advancements and digital entrepreneurship in the region.

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Can Africa Manufacture Its Own Vaccines? Mastercard Foundation & IDP Partnership Is a Pivotal Step Towards Africa’s Health Independence

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Can Africa Manufacture Its Own Vaccines? Mastercard Foundation & IDP Partnership Is a Pivotal Step Towards Africa’s Health Independence

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The Mastercard Foundation and the Institut Pastuer De Dakar (IDP) have unveiled a $45 million partnership to strengthen Africa’s healthcare infrastructure and foster vaccine manufacturing autonomy.

The collaboration aims to bolster the continent’s vaccine manufacturing capabilities and enhance its preparedness for future health crises. The investment will be strategically utilized to support the development of vaccine manufacturing hubs across Africa. These hubs will serve as centers of excellence, equipped with state-of-the-art infrastructure, advanced technology, and research facilities to facilitate vaccine production, distribution, and quality control.

 

Through this partnership, the Mastercard Foundation and IDP aim to foster collaboration among African nations, academia, research institutions, and the private sector. The objective is to create a robust ecosystem that promotes knowledge sharing, skills development, and technology transfer, ultimately enabling Africa to produce safe, affordable, and effective vaccines locally.

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How Are Drones Transforming Healthcare Access in Africa? Learn About A New And Innovative Transport Solution That Just Launched.

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How Are Drones Transforming Healthcare Access in Africa? Learn About A New And Innovative Transport Solution That Just Launched.

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Siemens Healthineers Middle East, Southern & Eastern Africa and WINGCOPTER Gmbh have partnered to launch Africa’s first integrated drone transport solution for medical supplies.

The partnership seeks to enhance healthcare accessibility and overcome logistical challenges in delivering medical supplies in Africa. This innovative initiative promises to revolutionize healthcare by ensuring timely and life-saving interventions, particularly in remote and hard-to-reach areas.

 

The cutting-edge system leverages the capabilities of unmanned aerial vehicles (UAVs) to deliver medical supplies such as vaccines, blood samples, medicines, and diagnostic equipment. Utilizing Wingcopter’s delivery drones interconnected with Siemens Healthineers’ laboratory diagnostics facilities will allow for quick and automated 2-way delivery of samples, medicine and other medical products.

The battery-powered drones will be operated by Wingcopter, covering a range of up to 75 kilometres while maintaining the cold chain at all times.

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Kenya to launch 1 million locally assembled smartphones by July

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Kenya to launch 1 million locally assembled smartphones by July

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Kenya, a vibrant hub of technological innovation in Africa, has embarked on an ambitious plan to roll out 1 million locally assembled smartphones by July.

The Kenyan government, in collaboration with industry stakeholders, is implementing the comprehensive plan to promote domestic smartphone assembly. “Based on feasibility studies undertaken, we can locally assemble smartphones at a unit cost of about $40. We’ve partnered with the private sector to ensure in the next two months, we can roll out our first consignment of low-cost smartphones,” ICT Cabinet Secretary Eliud Owalo said.

 

This endeavor is driven by the recognition that local production contributes to the national economy, creates employment opportunities, and enables technology transfer and skill development. The move marks a significant milestone in Kenya’s journey towards self-sufficiency and promoting a thriving digital ecosystem.

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TIZETI and Microsoft partner to bring affordable internet to 5 million people in Ivory Coast

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TIZETI and Microsoft partner to bring affordable internet to 5 million people in Ivory Coast

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TIZETI, one of the leading internet service providers in West Africa, has partnered with Microsoft to address the challenge of broadband underdevelopment in Cote d’Ivoire.

This collaboration aims to expand affordable and reliable internet access to more than 5 million people across the country, fostering digital inclusion and driving economic growth. Côte d’Ivoire, like many other African nations, faces challenges in providing widespread access to high-quality and affordable internet connectivity.

 

Recognizing this opportunity, Tizeti and Microsoft have joined forces to bridge the digital divide and empower individuals, businesses, and communities with seamless internet access. As part of the partnership, Tizeti will leverage its expertise in deploying cost-effective solar-powered Wi-Fi towers and its innovative “Complimentary Wi-Fi” model to provide affordable internet connectivity to underserved areas of Côte d’Ivoire.

 

Microsoft’s support will enable Tizeti to scale its operations and enhance its network infrastructure, ensuring that more communities can benefit from reliable broadband access. This partnership is expected to facilitate the implementation of digital initiatives in various sectors, such as education, healthcare, agriculture, and e-commerce, unlocking new opportunities for growth and development.

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AfDB approves $11 million to facilitate fertilizer access for African farmers

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AfDB approves $11 million to facilitate fertilizer access for African farmers

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The African Development Bank Group (AfDB) has approved an $11.7 million grant to facilitate access to fertilizers for smallholder farmers across the continent.
 

AFDB apportioned the funding to the African Fertilizer Financing Mechanism (AFFM). Established in 2006, the Africa Fertilizer Financing Mechanism seeks to enhance pan-African agricultural productivity by promoting using fertilizers. The AFFM works multilaterally, focusing on the critical transnational factors impeding fertilizer use to develop comprehensive strategies for jump-starting Africa’s stagnant agricultural productivity.

 

By facilitating access to fertilizers, the AfDB aims to boost agricultural productivity, enhance soil fertility, and increase farmers’ incomes, ultimately contributing to poverty reduction and economic development in rural communities. The initiative aligns with the Bank’s overarching goals of promoting inclusive growth, improving livelihoods, and achieving food self-sufficiency in Africa.

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E3 Capital and Lion’s Head Climate Fund secure $48M to empower climate-focused startups in Africa

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E3 Capital and Lion’s Head Climate Fund secure $48M to empower climate-focused startups in Africa

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E3 Capital (formerly Energy Access Ventures) and Lion’s Head Global Partners’ Climate Fund have hit the first close of their funding initiative at $48 million to back climate-focused startups in Africa.
 

The two firms have joined forces to bridge the funding gap and support promising startups addressing climate change challenges in Africa. The joint funding initiative will provide capital and mentorship, networking opportunities, and strategic guidance to the selected startups. This comprehensive approach aims to support entrepreneurs throughout their journey, from early-stage development to scaling their solutions, ensuring long-term impact and sustainable growth.

 

With the successful first close at $48 million, E3 Capital and Lion’s Head Climate Fund are poised to become key players in Africa’s climate innovation landscape, driving positive change and inspiring new entrepreneurs to tackle the continent’s pressing environmental challenges. The fund is being financed by several development finance institutions, including the @Netherlands Development Finance Company (FMO), Swedfund International, Proparco, the private sector financing arm of the French Development Agency (AFD) and Kreditanstalt für Wiederaufbau (KfW), the German development agency.

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