Tag: Digital Transformation

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Nigeria’s WATT Renewable Corporation Secures $13 Million Funding to Advance Renewable Energy Solutions

New Investments

Nigeria's WATT Renewable Corporation Secures $13 Million Funding to Advance Renewable Energy Solutions

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WATT Renewable Corporation, a leading provider of hybrid solar solutions in Nigeria, has secured $13 million in funding from Empower New Energy.
 
This investment is the largest to date for Empower New Energy, and it will support WATT’s efforts to expand its renewable energy portfolio and accelerate the transition to clean energy in Nigeria.

WATT specializes in designing, building, and operating hybrid solar power plants that provide reliable and affordable energy to businesses and communities across Nigeria.
 
The company’s hybrid solar solutions combine solar power with battery storage and other technologies to provide a consistent and reliable source of energy, even during periods of low sunlight or cloud cover.

WATT’s services are particularly valuable in Nigeria, where over 70 million people lack access to reliable electricity.
 
The company’s hybrid solar solutions can help bridge this energy gap and provide much-needed power to businesses and communities nationwide.

The new funding from Empower New Energy will enable WATT to add 8MW of installed generating capacity and 14.3MWh of storage capacity to its renewable energy portfolio.
 
This expansion will significantly improve the availability and reliability of clean energy in Nigeria, and it is expected to reduce diesel consumption by approximately 3 million liters per year.

Oluwole Eweje, Chief Executive Officer of WATT, commented on the new funding: “This funding injection will play a pivotal role in furthering our mission to provide reliable and affordable clean energy to businesses and communities across Nigeria. We are immensely grateful to Empower New Energy for their trust and support, and we are excited to embark on this transformative journey together.”

The investment from Empower New Energy is a significant endorsement of WATT’s business model and its commitment to advancing the clean energy transition in Nigeria.
 
The new funding will enable WATT to continue its growth trajectory and expand its reach to even more businesses and communities across the country.

WATT’s expansion of its renewable energy portfolio will increase the availability and reliability of clean energy in the country, which will benefit businesses and communities alike.

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“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.

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Egypt’s MoneyHash Secures New Investment for Its Payment Solutions Expansion

New Investments

Egyptian Fintech MoneyHash Secures New Investment for Its Payment Solutions Expansion

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MoneyHash, an Egyptian fintech company, has secured new funding from Tom Preston-Werner, co-founder of GitHub and former CEO, in an undisclosed seed funding round.
 

The investment will support the company’s expansion into new markets and develop new payment solutions.

MoneyHash is a payment processing platform that provides businesses with a variety of tools to accept and make payments online and offline.

The company’s platform is designed to be easy to use and integrate with existing systems, and it offers a wide range of payment methods, including credit cards, debit cards, mobile wallets, and bank transfers.

MoneyHash is currently active in Egypt and Kenya, and it plans to expand into other African countries in the near future.

The company is also developing new payment solutions, such as a buy now, pay later option and a cryptocurrency payment gateway.

In a statement, MoneyHash CEO Ahmed Al-Balaghi said, “We are excited to have Tom Preston-Werner join our team as an investor. His experience in building and scaling successful technology companies will be invaluable to us as we expand our payment solutions and reach new markets.”

Tom Preston-Werner said, “I am impressed by the team at MoneyHash and their vision for building a better payment experience for businesses and consumers in emerging markets. I am confident that they will use this investment to continue to grow and innovate.”

MoneyHash is one of a number of fintech startups in Africa that are developing new payment solutions.

These companies are helping to address the challenges of the continent’s fragmented and intricate payment ecosystem.

They are also helping to make financial services more accessible to businesses and consumers in emerging markets.

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“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.

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Egyptian Deep Tech Startup Intella Secures $3.4M in Pre-Series A Funding Round Led by HALA Ventures and Wa’ed Ventures

New Investments

Egyptian Deep Tech Startup Intella Secures $3.4M in Pre-Series A Funding Round Led by HALA Ventures and Wa’ed Ventures

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Intella, a MENA-based deep tech company, has successfully closed a $3.4 million Pre-Series A funding round led by HALA Ventures and Wa’ed Ventures.
 

The funding round also attracted the participation of Sanabil500, INSEAD’s alumni angel network, and other investors.

Intella is a voice technology company that is developing end-to-end AI models localized for the MENA region.

The company’s flagship product, Intella Voice, is a speech-to-text engine that has achieved state-of-the-art accuracy in Arabic dialects.

Intella Voice is already being used by a number of companies in the region, including telecom operators, call centers, and media companies.

The new funding will allow Intella to accelerate its expansion into the Saudi market and continue developing its AI models.

“We are excited to partner with Intella and support their mission to bridge the gap between the Arab-speaking world and AI advancements,” said Ali Abussaud, Founding Managing Partner of HALA Ventures.

“Intella’s voice technology has the potential to revolutionize how people interact with computers and devices in the MENA region.”

In addition to its speech-to-text engine, Intella is also developing other voice-related AI products and services, such as audio summarization, sentiment analysis, topic extraction, and call scoring.

The company plans to launch these new products and services soon.

Intella is headquartered in Cairo, Egypt, and has offices in Riyadh, Saudi Arabia, and Dubai, United Arab Emirates.

The company was founded in 2020 by Nour Taher and Omar Mansour.

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“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.

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SA Fintech Startup Stitch Announces $25m in Series A Extension Round

New Investments

SA Fintech Startup Stitch Announces $25m in Series A Extension Round

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Stitch, a leading fintech startup in South Africa, has announced a $25 million Series A extension round led by Ribbit Capital.
 
The funding will be used to accelerate the company’s growth, expand its product offerings, and enter new markets.

Stitch was founded in 2021 and has quickly become one of the fastest-growing fintech startups in Africa.
 
The company provides a suite of API-based payment solutions that enable businesses to accept, manage, and disburse payments online and offline. 
 
“We’ve known the Ribbit team for a few years and have consistently been impressed with their knowledge of the space. In particular, they have a strong view of the global landscape, and their exceptional understanding of emerging markets has already proven to be immensely valuable,” said Stitch co-founder and CEO Kiaan Pillay.
 
Stitch’s clients include some of the largest companies in Africa, such as MTN, Multichoice, and Luno.

The Series A extension round is a significant milestone for Stitch and a testament to the company’s strong growth potential. 

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“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.

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Peach Payments Secures $30M Funding Deal to Accelerate Growth in Africa

New Investments

Peach Payments Secures $30M Funding Deal to Accelerate Growth in Africa

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Peach Payments, a leading South African digital payment service startup, has secured a $30 million funding deal led by Apis Growth Fund II and participation from Enza Capital.

The funding will accelerate the company’s growth in Africa, develop new products, and expand into new markets.

Peach Payments was founded in 2011 and has since grown to become one of the largest digital payment service providers in Africa.

The company offers various payment solutions to businesses of all sizes, including online payments, mobile payments, and point-of-sale payments.

Peach Payments is headquartered in Cape Town, South Africa, and has offices in Kenya, Mauritius, and Nigeria.

The funding deal is a sign of investor confidence in Peach Payments and the African digital payments market.

Africa is one of the fastest-growing digital payments markets in the world, and Peach Payments is well-positioned to capitalize on this growth.

Peach Payments CEO Rahul Jain emphasized the company’s commitment to simplifying the payment landscape for businesses expanding across Africa.

The fintech startup’s unique feature allows businesses to seamlessly transition into new African countries without having to find new payment partners.

With up to 12 different payment methods, including credit cards, debit cards, instant EFTs, various buy-now-pay-later options, and electronic vouchers, Peach Payments offers a comprehensive solution to the fragmentation in payment methods that plagues many African markets.

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“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.

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Edith Brou Bleu

Edith Brou Bleu

Edith Brou Bleu, the Ivorian entrepreneur, influencer, TV panelist, and radio host, who has left an indelible mark on the technological sphere of Côte d’Ivoire.

 

Born in Abidjan, she is considered one of the most influential figures in the technological sphere of Côte d’Ivoire. Edith co-founded the first Ivorian women’s webzine, “Ayanawebzine,” and played a pivotal role in establishing “Kessiya,” a continuous news media outlet in Côte d’Ivoire. Her contributions have transformed the digital landscape and empowered and amplified women’s voices in the tech and media industries.

Edith is also a passionate advocate for the use of technology to promote education and social development in Africa. Her tireless efforts have inspired countless individuals to harness the potential of digital tools for positive change. In recognition of her remarkable achievements and influence, Edith was named one of the “100 Most Influential Women in Africa” by The Africa Report in 2022. This accolade solidifies her status as a role model for many African young people and an inspiration to women entrepreneurs and digital activists worldwide.

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Makole Mupita

Makole is an accomplished executive and fund manager making remarkable strides in South Africa’s energy industry.

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June 2, 2023
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Adewale Yusuf

Adewale Yusuf

Adewale Yusuf is a Nigerian tech entrepreneur and technology enthusiast known for his involvement in the tech startup ecosystem in Nigeria and Africa.

 

Yusuf’s entrepreneurial spirit has led him to spearhead several tech ventures that have left an indelible mark. He has been at the forefront of initiatives aimed at solving real-world problems and making a difference in people’s lives through technology.

Yusuf is the Co-Founder of three tech ventures, including TalentQL (Techstars ’21), Techpoint Africa and AltSchool Africa. AltSchool Africa is an edtech platform that helps one learn the skills they need to build and grow the career they want. Adewale’s impact extends far beyond the borders of Nigeria. He has been a bridge between Africa and the global tech community, fostering collaborations, and showcasing the immense potential of African innovation on the world stage.

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Delphine Traoré 

Delphine is a prominent figure in the finance and insurance industry and has played a significant role in the African business landscape.

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October 2, 2023

Mawuse Christina Gyisun

Mawuse Christina Gyisun is a Ghanaian award-winning social entrepreneur passionate about permanently breaking the poverty cycle in rural communities.

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August 28, 2023
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Ethiopia-based Micro-Insurance Startup Jamii.One Secures New Investment From Renew Capital

New Investments

Ethiopia-based Micro-Insurance Startup Jamii.One Secures New Investment From Renew Capital

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Renew Capital, an impact-focused venture capital firm investing in early-stage African startups, has backed Ethiopia-based micro-insurance startup Jamii.one with a new investment.
 
The round also included participation from existing investors Blue Haven Ventures and angel investors.

Jamii.one is a digital micro-insurance platform that provides affordable and accessible insurance products to low-income individuals and communities in Ethiopia.
 
The company’s products include crop, livestock, and health insurance.

Renew Capital’s investment will be used to help Jamii.one expand its product offerings, reach new customers, and grow its team.
 
The company plans to launch new products, such as income protection insurance and funeral insurance, in the coming months.

Ethiopia is one of the poorest countries in the world, and over 80% of the population lives in rural areas.
 
Access to insurance is very low, with only 1% of the population having any type of insurance policy.

Jamii.one is helping to address this gap by providing affordable and accessible insurance products to low-income individuals and communities.
 
The company’s products are designed to help people protect themselves from financial hardship caused by unexpected events such as crop failure, livestock death, or illness.

Jamii.one’s platform is easy to use and can be accessed via mobile phone or the internet.
 
The company offers a variety of payment options, including mobile money and cash.

Renew Capital’s investment in Jamii.one is a positive development for the Ethiopian insurance market.

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“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.

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Ousmane Diagana

Ousmane Diagana

Ousamane Diagana is a Mauritanian economist dedicated to improving lives and fostering sustainable development in West Africa.

 

He is currently serving as The World Bank Regional Vice President for Western and Central Africa. In this pivotal position, Mr. Diagana shoulders the responsibility of nurturing relationships with 22 countries while overseeing a vast portfolio of projects, technical assistance initiatives, and financial resources valued at over $40 billion. His impressive journey with the World Bank includes serving as the Country Director for Côte d’Ivoire, Burkina Faso, Benin, Guinea, and Togo, with his base in Abidjan.

Preceding this role, he held the position of Country Director for Mali, Niger, Chad, and Guinea, stationed in Bamako. Ousmane Diagana’s career has been marked by visionary leadership and a deep commitment to making a positive impact on the lives of millions across Western and Central Africa. His unwavering dedication to development has made a significant difference in the region. Under Ousmane’s leadership, the Western/Central Africa Region at the World Bank has seen remarkable progress in addressing critical challenges such as poverty reduction, infrastructure development, healthcare, and education.

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