WEEK IN REVIEW: We have merged 🎉
Web3 Afrika Dev Roundup Sept 12 -16th more funding announcements+EBANX is expanding its operations to Africa+BII inject $100 million into Egyptians+web3 corner +story of the week
✨RELEVANT NEWS
➦Nigerian financial management and payments startup kippa Africa has raised $8.4 million to expand its offerings to SMEs in Africa.
Kippa, a Nigerian financial management and payments platform, announced Monday it has raised $8.4 million in a new financing round. Founded in June 2021 by Kennedy Ekezie-Joseph, Kippa provides digital business and financial management solutions to SMEs in Nigeria.
The round included participation from global investors, including Goodwater Capital, TEN13 VC, Rocketship VC, Saison Capital (the venture arm of Credit Saison), Crestone VC (led by Inanc Balci, Co-founder and former CEO at Lazada), VentureSouq, Horizon Partners and Vibe Capital.
➦Duplo, a Nigerian fintech startup, has raised $4.3M in a seed funding round.
Nigerian startup Duplo, a B2B payment platform that makes it easier for African businesses of all sizes to pay each other, has raised US$4.3 million in seed funding to launch new products and expand into new business verticals.
The startup announced a US$1.3 million pre-seed earlier this year after taking part in the Y Combinator W22 batch, and has now swiftly moved onto seed with this US$4.3 million investment. The round came from investors including Liquid2 Ventures, Soma Capital, Tribe Capital, Commerce Ventures, Basecamp Fund, and Y Combinator, while Oui Capital re-invested after participating in the previous round.
➦Brazilian payments giant EBANX is expanding its operations to Africa - starting with Kenya, Nigeria, South Africa
A global payments fintech company founded in Latin America, has announced plans to expand its operations and payments solutions to the African continent, which it believes is the next big growth frontier for digital payments and the digital market during the 2020s.
EBANX considers Africa the next big frontier for e-commerce, payments, and rapid fintech evolution. The Brazilian unicorn now provides local payment solutions in 18 countries worldwide, including three of the top-10 economies in Africa: South Africa, Kenya, and Nigeria.
➦Ascent Capital Raises KES 15 Billion to Invest in SMEs in East Africa
Private equity firm Ascent Capital has raised $128 million in a new fund whose proceeds will be invested in small and medium-sized enterprises (SMEs) in East Africa. The targeted sectors by the fund include manufacturing, wholesale and retail trade services, financial services, education, healthcare, and Agro-processing.
➦The British International Investment has announced a plan to inject $100 million into Egyptian startups.
British International Investment (BII), the UK’s development finance institution (DFI), formerly known as (CDC), announced on Tuesday its plan to invest $100m in Egyptian startups over its current strategy period and highlighted its ‘Innovation for Impact’ Venture Capital (VC) summit.
The DFI also reaffirmed its commitment to strengthen its partnership with Egypt and increase climate finance to support the country’s green growth.Egypt is home to Africa's fourth largest startup ecosystem, behind only South Africa, Nigeria and Kenya.
WEB3 CORNER🚀
Ladies and gentlemen, we have merged 🎉
➦The Ethereum Merge Happened yesterday. The Ethereum Merge moved from proof of work to proof of stake. But what does this mean for ordinary users?🤔
STORY OF THE WEEK🙌
No kidding. A work culture can be the deal-breaker or decisive factor when it comes to a company’s success. To be clear, a great company culture just doesn’t happen on its own, it is created and reinforced by determined individuals. One work culture that is emphasized at NGENI is team work.🔥
At NGENI believe that we are as strong as our weakest member. It is no longer a myth that teamwork makes work easier and faster and this week has been all about that. Establishing groups has helped build stronger relationships between employees and lets individuals learn to work together. The design and marketing team along with the developers worked tirelessly to maximize their efficiency and reach a common goal which is meeting the deadline of one of our upcoming NGENI products.
This product that we are working on is extremely exciting and we can't wait to share it with the rest of the world once it’s final. Stay tuned for that one 👌🔥.NGENI with its strong teamwork and dedicated engineers promises to keep the fire burning by producing solutions that benefit the community and ease of life.
On a daily basis, Technology faces unexpected problems, incidents, and requests that require us solve at the end of the day. And in this respect, hackathons are resources of innovation and creativity that can maximize the productivity of our employees.
Three of our colleagues(team Sahara) are to participate in the Mara hackathon which is going to happen at Maasai Mara. With the extended knowledge acquired through the NGENI TRAINING ACADEMY, chances are really looking so good for our Team Sahara for they will definitely blow your mind with their project idea. Fresh brains, Fresh Solutions! From all of us at ngeni, BREAK A LEG TEAM SAHARA!🔥
Till next week ❤ Have a great weekend.👌
Thanks for reading👌
We are working hard to give you the best information tailored to your interest.😁
Contact us: NGENI Linktree
Shiko Karanja✍
ABOUT NGENI🔥
NGENI is Kenya and East Africa's first pure-play and largest Blockchain & Web3 development engineering Studio with a 60-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.