The Empower Africa Business Platform is Now Live !!!
This funding round follows a successful $1 million pre-seed funding secured in November 2023.
The fresh capital will be used to propel ORA’s launch of its e-wallet feature, enabling instant money transfers for users.
This functionality is being developed through a partnership with M2T, a subsidiary of Banque Centrale Populaire, ensuring secure and reliable transactions.
Founded in 2023 by Omar Alami, the ORA app boasts over 300,000 downloads and provides a comprehensive platform for Moroccans, including peer-to-peer transactions, and access to an e-commerce marketplace.
The upcoming e-wallet integration, facilitated by the M2T partnership, aims to further revolutionize financial services in Morocco.
This feature will allow users to seamlessly combine social interaction with financial transactions within the app.
“This development is a significant step towards expanding digital and financial inclusion in Morocco,” said Alami.
“We are committed to offering accessible e-commerce and digital payment solutions to all Moroccans, bridging the gap between traditional and modern commerce while fostering an inclusive digital economy.”
“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.
Impact investment firm Renew Capital has announced an investment in Tendo, a digital platform based in Ghana that enables people to launch their own online businesses with no upfront cost.
Bpifrance, the largest venture capital (VC) firm in France, has recently expanded its footprint into Egypt as part of its broader strategy to penetrate the Africa and Middle East (AME) regions.
Google has announced a $37 million investment to advance artificial intelligence (AI) initiatives across Africa.