
Turaco Acquires MicroEnsure Ghana to Boost Affordable Insurance Coverage in Africa
Turaco, Africa’s tech-enabled affordable insurance company, has acquired MicroEnsure Ghana from MIC Global.
This strategic move is aimed at investing in and supporting innovative tech startups in Kenya and beyond.
With a strong commitment to nurturing local talent and driving digital innovation, Safaricom seeks to play a pivotal role in propelling the growth of the technology sector and fostering entrepreneurial success in the region.
The two new subsidiaries introduced by Safaricom are:
– Safaricom Ventures: Safaricom Ventures will function as the company’s corporate venture arm, focusing on investing in early-stage tech startups.
Through this subsidiary, Safaricom aims to identify and back promising entrepreneurs with cutting-edge ideas that align with its core values of digital transformation and customer-centric innovation.
– Safaricom Innovation Lab: The Safaricom Innovation Lab is an incubation center designed to nurture startups through their initial stages of development.
The lab will offer a conducive environment for entrepreneurs to experiment, develop prototypes, and refine their business models.
The lab will have state-of-the-art facilities, expert guidance, and collaborative spaces to foster creativity and idea-sharing among budding entrepreneurs.
The introduction of Safaricom Ventures and the Safaricom Innovation Lab brings a wealth of opportunities for the startup community in Kenya and beyond.
Safaricom’s decision to invest in tech startups through Safaricom Ventures and the Safaricom Innovation Lab is a significant leap towards nurturing innovation and driving technological advancements in Kenya and beyond.
Turaco, Africa’s tech-enabled affordable insurance company, has acquired MicroEnsure Ghana from MIC Global.
ROAM, a Kenyan electric vehicle (EV) company, has introduced the Move, an all-electric shuttle bus that is the first of its kind to be built entirely in Kenya.
Swedish automaker Volvo Cars and Egyptian bus manufacturer Manufacturing Commercial Vehicles (MCV) have signed an agreement to manufacture electric bus bodies in Egypt for export to Europe.
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