NGENI DEV ROUNDUP CORNER.
Web3 Afrika Dev Roundup April 18th-24th+more fundings +web3 +crypto adoption +Elon Musk buys Twitter +outside world +developer of the week
We provide weekly news resources for African developers, breaking down all news that is related to web3, blockchain, fintech, and the Exchange Trading ecosystem.
Hello,😃 welcome to the weekly recap of innovative technologies propelling Africa ahead.
✨Relevant News funding announcements
➤Umba, a Nigerian digital bank, has raised $15 million in a Series A round of funding
According to the company, they will use the funding to prepare to launch in new markets, including Egypt, Ghana and Kenya. They will also make some expansions product-wise rolling out debit cards, savings accounts, and stock trading in the next 18 months.
Kenyan WallStreet April 20,2022
➤Atlantica Ventures, an African tech startup fund, has received $23.8 million in funding
The EIB’s new cooperation with Atlantica Ventures will expand specialist finance for technology and technology-enabled businesses across Africa, ensuring that technology can help create inclusive and sustainable growth.
Techgistafrica April21,2022
➤Nigerian fintech startup Syarpa has closed a US$500,000 pre-seed round of funding to help it expand across Europe and Africa.
Syarpa enables users to carry out both international money transfers and crypto exchanges by providing fiat and crypto payment solutions has over 2,000 users and has facilitated transactions worth over US$4 million since its launch.
The startup is now planning expansion across Europe and Africa after raising a US$500,000 pre-seed funding round led by CrossFund and FirstFounders and also featuring Yolo Investments and a strategic angel investor.
Disrupt Africa April 22,2022
➤Unicorn Group launches pan-African incubation program
Unicorn Group is a pan-African investment company targeting innovative ideas, startups, and early-stage companies in the technology and technology-enabled sectors across Africa that have the potential to emerge as unicorns. The firm provides education, training, mentorship, infrastructure, and long-term capital to selected companies.
Disrupt Africa April22 ,2022
➤Tofino Capital has closed the first round of a $10 million fund to support African startups.
Tofino Capital, founded by Eliot Pence and Aubrey Hruby, invests in early-stage firms in venture scalable markets that are lacking or inadequately funded by venture capital
The founders have worked for over 100 startups, including SWVL, Flutterwave, and Foodology, and have launched InsiderPR, one of the most well-known public relations businesses in African tech.
The fund will concentrate on B2B entrepreneurs in the areas of fintech, logistics, and marketplaces. Techgistafrica April 23, 2022
➤Nigerian Fintech Startup Afriex Raises $10 Million For Its Blockchain Money Transfer Platform
Afriex is a money transfer system that utilize blockchain to enable users to send funds by converting them into stablecoins — which are cryptocurrencies backed by reserve assets. This process makes the transaction free and quicker than an existing service like Wise which charges a 6.45% fee and can take a few days to process. They launched the service, Afriex, in 2019 and the traction was instant.
Forbes April 25, 2022
🚀Web3 corner🚀
➤Unlocking Web 3.0 Opportunities In Africa
“Our youth are now educated and some in the diaspora are well-traveled and we have a consciousness as a continent about the power of Web 3.0 and not to mention mobile user penetration is averaging between 70 percent to 85 percent,”
Del Titus Bawuah, Chief Executive Officer and founder of Lili Smart City, an entrepreneur in tech, sustainability and cultural impact and an early investor in Web 3.0 says that Africa is ready for web3.His reasoning for this is simple: He says global tech businesses have already taken the initiative to set up shop in Africa.
➤Twitter which currently uses Stripe to pay content creators will now offer them the choice to receive payments in crypto. Twitter will use this feature to pay out earnings from Ticketed Spaces and Super Follows. The option will initially be offered to a small group of Twitter’s US creators
➤Why Web 3 Must Be Developed Sustainably
📚Be on the know
This will contain lots of stories on the fast-paced world of technology, firsthand knowledge, and opinions to give a comprehensive view of this rapidly changing ecosystem.
➤South Africa fintech Stitch launches new one-click secure payments product LinkPay
The fintech startup Stitch has launched LinkPay, allowing businesses in South Africa and Nigeria to enable users to link their financial accounts and pay securely via instant bank transfer, in seconds.
➤The Central African Republic has become the first country in Africa to adopt Bitcoin as a payment currency in a bid to put the country’s plan for economic recovery and peace-building on track.
➤Elon Musk has officially purchased Twitter for $44billion .
The worlds richest man has bought twitter for $44 billion.According to the announcement from Twitter ,the company revealed they entered .Twitter shareholders will reportedly receive $54.20 per share and the social media network will become a privately held company upon the finalization of the deal.
👩💻DEVELOPER OF THE WEEK 👩💻
Meet Omambia Douglas, a senior software engineer at NGENI. His areas of expertise include backend development, web3 development, mobile development, and intelligent contract engineering.
Before NGENI, he was a freelancer, which made him explore different technologies. His general focus was on fintech and government solutions. He also developed microservices-based applications.
"When I joined ngeni, I was a fintech developer, and I transitioned to crypto, web3, and blockchain development, which was easy for me through the indensity programme."
His blockchain and web3 expertise include Ethereum, polygon, Fintech, Avalanche, Solana, Binance Smart Chain, NFTs, and Arbitrum.
Omambia enjoys traveling and exploring new places. He also loves reading books.
🌍Outside Africa
Weekly ,we look at key people and the most engaging posts on Twitter in Fintech, Web3, Cryptocurrency, and Exchange Trading.
This week in Cryptocurrency.
Bahamas Government to activate Tax Payment via crypto.
The Bahamas government will allow Bahamians to pay taxes using digital assets, according to a white paper that outlines the nation's digital asset strategy until 2026. The government will also start enabling Bahamians’ access to digital assets using the Bahamas sand dollar, a central bank-issued digital currency that was launched in 2020.
"We have a vision to transform the Bahamas into the leading digital asset hub in the Caribbean," Prime Minister Philip Davis said.
The release of the white paper comes one week before the Crypto Bahamas conference that will be hosted by cryptocurrency exchange FTX.
The question is is will Africa follow suit?
🏆PROJECT OF THE WEEK🏆
This week we will review the FLUO FINANCE v1
This is a DeFi and TradFi lending protocol with a backend that functions with DeFi-strategies but lends in the real world to real businesses and investors who need FIAT for their own investments.
TECHNOLOGIES & TOOLS TO BE USED
Solidity
NodeJs
Typescript
Web3Js / Ethers
vsCode
Ethereum (Mainnet and Rinkeby).
TheGraph
React
📚OTHER ARTICLES.
Trade volume in NFTs increases doubles 2021 Traction.
How Blockchain can enhance Digital Museum
NFTs are now being used for African wildlife conservation.
About NGENI.
NGENI is Kenya and East Africa's first pure-play and largest Blockchain & Web3 development engineering Studio with a 40-plus-person team. The studio recruits and trains recent graduates from STEM Universities across Kenya and today has twenty-one (21), talented developers, at our Kilimani Headquarters.
All engineers have successfully taken on complex coding challenges, and hackathons and have ultimately delivered on complex multi-Blockchain applications, bots, and dApps for international projects.
Thanks for reading 🙌🏽
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Shiko Karanja ✍🏼