E-Business
Catalyst Fund, Others Launch $4.3M Inclusive Digital Commerce Accelerator

Catalyst Fund, managed by BFA Global, in partnership with the Mastercard Foundation and the Meltwater Entrepreneurial School of Technology (MEST), announced the Catalyst Fund Inclusive Digital Commerce Accelerator, a program aimed at scaling digital commerce companies in Ghana to support the digitization of micro and small enterprises (MSEs) in the country.
The two-year program will improve the livelihoods and financial resilience of MSEs in Ghana, that have been impacted by COVID-19, by enabling access to digital commerce platforms and access to market.
The accelerator will select and scale six digital commerce and innovative companies that can enable informal MSEs to reap the benefits of digital commerce, leveraging Catalyst Fund’s existing proven model to combine:
. flexible grant capital of up to US$120,000 per company;
.deep, bespoke, expert-led venture acceleration support;
.portfolio meet-ups and curated cohort-based workshop sessions with local expertise and operational support by MEST;
.a commitment to sharing best practices, toolkits, learnings, and insights with the digital commerce sector;
.connections with Catalyst Fund’s growing global Circle of Investors (65+) and Circle of Corporate Innovators; and
. ecosystem acceleration to create a more enabling investment and business environment in which digital commerce companies can prosper.
The first expansion of Catalyst Fund beyond its flagship Inclusive Fintech program will officially launch via a virtual event and company pitch showcase on November 4th.
All participating companies in the pitch will be selected by an expert Investment Advisory Committee. Selection is informed by market research conducted to identify the barriers and opportunities for expanding inclusive digital commerce in Ghana. Initial research findings will be released at the official launch event on November 4th.
Speakers at the launch will include: Alex Bram of Hubtel; Lexi Novitske of Acuity Venture Partners; Albert Biga of Zoobashop; Kweku Fleming of MEST Scale; Jane del Ser of BFA Global; and more.
The event will conclude with a pitch showcase from four leading digital commerce companies across Ghana, which will be held at the MEST Accra Incubator.
“We’re thrilled to announce the first Catalyst Fund expansion program, which builds on lessons learned on supporting inclusive fintech companies in emerging markets over the last five years.
“Through the Inclusive Digital Commerce Accelerator, we aim to impact informal MSEs in Ghana who, particularly in light of the COVID-19 crisis, lack access to a financial safety net and find their livelihoods impacted when physical commerce suffers.
Along with support and deep local expertise from the Mastercard Foundation and MEST, we aim to enable companies who are already tackling distinct problems in the digital commerce space to better reach informal MSEs so they can leverage digital rails to improve their financial resilience for the future,” said Catalyst Fund Managing Director Maelis Carraro.
Country partner MEST brings deep market knowledge, leveraging 12+ years of training and incubating tech entrepreneurs on the ground in Ghana.
“The opportunity to partner with an experienced organization like Catalyst Fund with support from the Mastercard Foundation, is in equal parts exciting and aligned with MEST’s scale strategy in Ghana, and beyond. Historically, MEST has focused on early-stage startup support and creation through our training program, seed fund, and incubator programs.
“The Inclusive Digital Commerce Accelerator provides an opportunity to work with Catalyst Fund to support scale-stage ventures which are strategically seeking to better reach and serve informal MSEs, leveraging our local knowledge, networks, and expertise,” said MEST Strategic Director Greg Coussa.
US$4.3 million commitment to support the financial resilience of MSEs
Surveys conducted by BFA Global and by Ghana Statistical Service found that MSEs in particular are suffering as a result of the pandemic. A BFA Global survey of low- and middle-income individuals found that 44% of self-employed people had lost their jobs or could not find work.
A recent tracker from the Ghana Statistical Service found that microenterprises are faring worse than large and small enterprises; among businesses that are open, 92.2% of microenterprises report decreased sales (compared to 89% of small and medium enterprises, and 45% of large enterprises), noting that sales have fallen 60.9% relative to last April.
“Micro and small enterprises are the bedrock of Ghana’s economy. They are also the most impacted by COVID-19, putting livelihoods and economic gains made over the years at risk. Accelerating access to markets through digitization and e-commerce platforms provides MSEs the opportunity not only to scale, but to strengthen their resilience at the other side of the pandemic,” said Nathalie Akon Gabala, Regional Head for Western, Central and Northern Africa, at the Mastercard Foundation.
In a parallel effort to accelerate the expansion of the digital commerce ecosystem and increase coordination, Catalyst Fund will be building an open database of digital commerce companies operating in Ghana. Companies who wish to express interest in being considered for the accelerator may also choose to be included in the database. All interested companies should complete the form found here.
E-Business
Amazon CEO Says AI will Reduce Number of Workers Needed

Amazon’s management on Wednesday said that it expects that artificial intelligence software will reduce the number of office workers at the world’s largest online retailer.

Andy Jassy, chief executive, Amazon
“We will need fewer people doing some of the jobs that are being done today and more people doing other types of jobs,” Andy Jassy, chief executive, Amazon wrote in an email to employees.
He said it was difficult to predict how the overall workforce will evolve, but in the next few years, it is expected that AI efficiency gains will lead to a reduction in the number of office workers.
According to earlier reports, Amazon employed around 1.5 million people worldwide, with approximately 350,000 office employees in various roles.
The Wall Street Journal reported that the company does not anticipate further large-scale layoffs, as seen in 2022 and 2023, in the near future.
Instead, it expects that vacant positions will not be refilled.
However, layoffs are not ruled out, according to sources familiar with the matter.
“Amazon is focusing on so-called AI agents, software capable of independently performing tasks. These agents could, for example, summarise information from the web and data sources, write software, translate languages and automate many time-consuming tasks,” Mr Jassy explained.
“Agents will be teammates that we can call on at various stages of our work,” he added, urging employees to experiment with AI whenever possible.
The impact of AI on the job market has been a concern for many years.
Recently, Spotify, the leader in music streaming, announced that teams requesting additional staff would first need to prove that AI could not perform the tasks.
The creators of the language-learning app Duolingo plan to gradually replace external workers with AI.
E-Business
BPP Partners NDPC to Strengthen Data Protection

Dr Adebowale Adedokun, director-general, Bureau of Public Procurement (BPP), has reaffirmed the bureau’s commitment to data protection in Nigeria.
He disclosed this in a statement at the weekend by Zira Nagga, head of Public Relations, BPP, following a courtesy visit by a delegation from the National Data Protection Commission (NDPC).
Adedokun stressed that data protection is vital to Nigeria’s economy and development, particularly in areas such as demography, health, education, and other key sectors.
He emphasised that no country should leave its data unprotected, as it plays a crucial role in future planning and national development.
“Data governs the world. It is essential to technological progress and must be protected for a country or business to be taken seriously,” he said.
Adedokun described the visit, aimed at fostering partnership on data policy implementation and protection, as timely and aligned with national goals.
He said the BPP would collaborate closely with the NDPC to boost data development, capacity building, and enhance the procurement system.
“The BPP will support compliance as part of the ‘Nigeria First’ Policy, although it is not a core procurement eligibility requirement,” he explained.
He suggested a hybrid training model to help build strong capacity in data protection, privacy awareness, and policy understanding.
According to him, a dynamic training approach will reduce logistics costs and improve public confidence in data safety and privacy.
Dr Vincent Olatunji, CEO, and national commissioner, NDPC, praised Adedokun and the BPP for supporting data protection initiatives.
He said the partnership supports President Bola Tinubu’s vision and will strengthen data privacy across Ministries, Departments, and Agencies (MDAs).
“The collaboration will create awareness and train BPP staff to ensure a firm grasp of data protection principles and policies,” he stated.
Olatunji said the NDPC would establish a working group to finalise a Memorandum of Understanding beneficial to both institutions.
He added that President Tinubu signed the NDPC into law on 12 June 2023 to uphold citizens’ rights and protect national and business data.
Olatunji also noted that strict legal measures were in place to enforce data protection and ensure full compliance nationwide.
Both agencies agreed to form a team to sign the MoU and focus on capacity building and data management in procurement and beyond.
E-Business
FG Mulls Fibre Optic Layout to Bridge Internet Gaps

President Bola Tinubu said that his administration has initiated a project to install fibre optic cables across the country, aimed at enhancing the socio-economic development of Nigeria.
His plans were contained in a speech he delivered at a joint session of the National Assembly in commemoration of Democracy Day on Thursday, June 12.
He said the fibre optic layout is part of other projects being embarked on.
“In addition, we have embarked on an ambitious project to lay fibre optic cables across the nation, a transformative step toward bridging the digital divide and fostering greater connectivity.
“This initiative promises not only to enhance the speed and reliability of internet access but also to revolutionise how businesses operate, how students learn, and how communities stay connected,” Tinubu stated.
He maintained that by extending this critical infrastructure, his government is empowering entrepreneurs, enabling digital education, and providing the tools for our youth to compete in a globalised world.
In a most recent report on Internet connectivity, The ICIR pointed out how Nigeria has faced setbacks in its deployment of fibre optic cables and needs a transformation.
The challenges revolve around vandalism, inadequate coordination between road construction and telecom infrastructure, and varying right-of-way (RoW) charges across states.
Among industry experts, these issues impact network outages, increase repair costs, and hinder broadband expansion efforts.
It has also further threatened the digital economy, leading to slower Internet speeds, dropped calls, and unreliable connectivity among others.
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