NGENI DEV ROUNDUP CORNER.
Web3 Afrika Dev Roundup May 2-9th more fundings +web3 to finance +Events Recap +Developer of the week + Promising Fintech
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 đ, welcome to this weekâs recap of innovative technologies propelling Africa ahead.
â¨RELEVANT NEWS.Funding announcements
â¤Nairobi-based accelerator The Baobab Network invests $25k in 5 new African startups.
The Baobab Network, a Nairobi-based accelerator that invests in early-stage tech companies across Africa, has announced its latest cohort of five investees, each of which secures US$25,000 in funding.Â
The Baobab Network has been accelerating startups with capacity building and fundraising since 2019, and now supports 25 startups in 11 countries after making five further investments as part of a new model. The newest cohort joined a three-month intensive growth program at the beginning of March.Â
Disrupt Africa  May 4, 2022
â¤Nigerian trade technology startup Norebase, has secured a US$1 million pre-seed funding round to accelerate its growth.
 Norebase provides a single digital infrastructure platform for Africa-wide expansion, helping founders and entrepreneurs start, scale, and operate their businesses in every African country, as well as the United States.
Disrupt Africa  May 6,2022
â¤Paymob, an Egyptian fintech startup, has raised $50 million funding .
 Paymob enables merchants to accept digital payments online and in-store, announced today it has raised $50 million in Series B funding.
PayPal Ventures, the global corporate venture arm of PayPal, New-York-based venture capital Kora Capital, and London-based Clay Point led the round.
TechCrunch May 9,2022
â¤Nigerian fintech start-up Kwaba secures pre-seed funding round.
The startup, which helps low and middle-income earners to split their annual rent into convenient monthly installments, has secured a pre-seed round of funding to help it expand across Nigeria and Africa.
The pre-seed round was led by from Co-Creation Hub (CcHub) and other investors, having received investment from Ingressive Capital in 2020.
Business Africa May 9,2022
đWEB3 CORNERđ
â¤What exactly does Web3 bring to the industry of finance?
â¤Google is building a web3 and crypto focused team.
James Tromans a former citigroup executive ,will manage the new google group that will create services to assist developers in building web3 appsđ¤.
Better blockchain node management and tools for accessing blockchain data in third party apps might be among the first stepsđÂ
â¤Binance plans to invest $500 million alongside Elon Musk in a Twitter buyout
"We're excited to be able to help Elon realize a new vision for Twitter," Changpeng Zhao, Binance's CEO said.
"We hope to be able to play a role in bringing social media and web3 together and broadening the use and adoption of crypto and blockchain technology."
Binance has committed $500 million to invest in Twitter alongside Elon Musk's buyout of the social media service.
đBe on the Know
⤠Gucci will start accepting cryptocurrency.Â
Customers will be able to pay for their purchases with some stablecoins, as well as BTC, BitcoinÂ
â¤Portugal records the first ever fully 100% Bitcoin purchase of a real estate property in the country.
â¤Metaâs Instagram to Support NFTs From Ethereum, Polygon, Solana.
đINCASE YOU MISSED IT.
Africa Blockchain Centre NFTs,Gamefi and Metaverse Event and workshop.
This event took place on 6th May 2022 at Adanian Labs,Nairobi.
In the event, Vincent Sipoi our DevOps Manager ,represented us as part of the panel discussing how blockchain and cryptocurrencies derive value in African countries and communities.
Vincent Sipoi,on the right ,speaking during the event.
âFor you to know the exchanges and coins to invest in, I suggest you look for the top 5 exchanges and top 10-20 assets before investing. Most importantly, do your own research. Please note that this is not financial advice.â
đ¨âđťDEVELOPER OF THE WEEK.
Cornelius Mutisya a.k.a The Mobile Chief .
Before NGENI, Cornelius was a freelancer providing different software solutions to clients for both web and mobile. This gave him exposure and the ability to interact with different technologies and understanding how they work.
'âWhen I joined NGENI, I was a mobile developer specializing in Dart/FLutter. I begun learning blockchain development, Web3 and crypto through the NGENI Indensity Training Programme. As a result of this training programme,I have become a proper Blockchain and dApps developer. â
During his free time, Cornelius enjoys swimming and playing pool billiards.
đPROJECT OF THE WEEKđ
This week ,we will be reviewing The Token Minter on Ethereum Network.
The build is responsible for minting new tokens listed on the ethereum network equivalent to the USD value of the tokens deposited .
Below is the project view ,the tech stack used and the brains behind the incredible project.
đINSIDE AFRICA.
#Fintech
Financial technology has revolutionized the global financial sector and has in many ways, fundamentally changed how we store, save, invest, transfer, and borrow money.
A couple of years ago, fintech startups begun sprouting around Africa. One thing that helped the journey was the sense of community and networking.
Why investors are piling into African startups .
Quite a number of early adopters in the tech space started creating communities and building products that have led to the creation of the Africa Tech Space. The pace of growth in terms of the amount of funds coming into the African continent in the last couple of years is mind-blowing!
The thought that African tech companies can turn into multi-billion dollar companies that are profitable in the future definitely caught the attention of several investors world-wide.
This year looks promising with the month of April having over $320M funding, and this is for only Five African startups.
Here are the top five disclosed funding deals for African startups announced in April 2022;
1. Sun Kingâs $260 million Series D raise to expand into Africa, and Asia.
2. Nigerian logistics startup Sabiâs $20 million funding round.
3. Egypt-based energy tech company Pylonâs $19 million seed round.
4. Umbaâs $15 million round to expand its digital bank into new markets.
5. Ghanaian Agritech Farmerlineâs $12.9 million pre-Series A
The question is, can african startups keep growing?
Here are 3 major factors that are driving fintech growth in Africa.
About NGENI.
NGENIÂ is Kenya and East Africa's first pure-play and largest Blockchain & Web3 development engineering Studio with a 50-plus-person team. The studio recruits and trains recent graduates from STEM Universities across Kenya and today has twenty-five (25) 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 readingđ
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