AFRICA'S WEEKLY 🤗
Web3 Afrika Dev Roundup August 8-12TH more funding activity +QED's first investment in Africa +coding in Kenyan curriculum +NGENI's week recap
✨RELEVANT NEWS funding activity
➦Kenya Fintech startup, FinAccess, raises $500K USD to assist the company with various new market launches across East Africa
The startup digitizes Savings and Credit Cooperative Organizations (SACCOs) and farming cooperatives in the East Africa region. It raised its funding from Cape Town-headquartered venture capital (VC) firm HAVAÍC. The company’s two core products are banking software solution Fincore and agricultural software solution Grobox.FinCore digitizes and automates the entire financial back office and product functions of SACCOs, while Grobox is an operations management software solution for co-ops, which tracks and records inventory, production, sales, payments, and finance data.
➦ Nigeria KYC startup, Youverify, extends seed round to $2.5M USD after raising $1M USD seed extension
Youverify aims to help financial services companies and mobile operators automate the verification processes of different types of data treated separately today, such as identity, academic background, home address, credit history and facial recognition.
➦ Nigeria Software company, Bluechip, is expanding into Europe as the company has established itself as one of the most forefront data warehousing companies in Africa
The software company that provides management solutions to companies, has recently announced an expansion move into Europe. Bluechip’s expansion follows a recent trend of African companies expanding overseas, like Moove’s expansion into India.
➦TeamApt lands funding from QED and other investors
TeamApt, a Nigerian fintech company that services the underserved mass market in Africa has received undisclosed funding from QED Investors, a U.S.-based fintech-focused venture firm.
QED's first investment in Africa
This is QED's first investment into Africa. QED first announced it was entering Africa in February 2022, hiring Gbenga Ajayi and Chidinma Iwueke to lead its investments on the continent.
QED is a leading VC in the fintech industry with nearly $5 billion in assets under management. Over the course of more than 180 portfolio firms in 14 different countries, they have invested in 27 unicorns. Its initial investment in Africa is TeamApt.
📚BE ON THE KNOW .
➦Kenya becomes the first African country to teach coding as subject in schools
Primary and secondary students in Kenya will begin learning coding in their school curriculum. This announcement comes in line with President Kenyatta's digital strategy in the East Africa country which will witness a variety of initiatives including the establishment of 20,000 digital hubs.
STORY OF THE WEEK🤗👌
Well,😰 let me tell you working from home is not easy at all especially when one is used to working from the office😁 .A Lot of distraction; google had some technical issues which made it seem like weak internet connection ,lets just say one is not fully disciplined when work from home🤦♂️ .At the NGENI, we have a sprint session where in our communication channel slack ,one is able to know when you are busy. This basically means one is engaged in their work and they can catch up when then are done sprinting( sprint off). It gives one ample time to concentrate for a given period.👏🤘
We have had less activity in the office this week as most people traveled🚃 to exercise their democratic right at their respective locations ,but the NGENI 🔥 must continue as there were some who were left in the office and the rest working from home. We are still hoping for the best during this period and eagerly waiting for the next president elect so that we can be a family again ,everyone one working from the office.🎉👌
See you next week. 🤝
Thanks for reading👌
Contact us: NGENI Linktree
Shiko Karanja✍