Connect with us

E-Business

French Govt Commits €130m to 500 Tech Startups Across Africa

Published

on

Kindly share this post

Yesterday at the New Africa-France Summit, President Emmanuel Macron announced a renewed financial commitment of €130m for the next three years and defined Digital Africa’s new ambitions to support entrepreneurship and technological innovation on the continent.

Present in Montpellier, the Digital Africa team unveiled new programmes, according to a Press release signed by Ndeye Mane Sall for Digital Africa on Friday.

In terms of financing, the team announced the Fuzé project, that focuses on Francophone Africa and aims to support at least 200 tech start-ups as of early 2022 by launching a new small ticket fund (in stages, from €10,000 to €200,000) taking the form of repayable loans.

In terms of skills, Digital Africa joins forces with Make IT and the German government to set up Talent4StartUps, a fellowship programme designed to meet the needs of talents that have been trained in tech and digital, and whose beneficiaries will be put in touch with start-ups actively recruiting.

More broadly, Digital Africa will continue to develop non-financial activities (knowledge production, training, networking, research, and support for the evolution of regulatory frameworks) while having the opportunity to raise funds from other public or private donors.

This will be enabled by its new status as a subsidiary of Proparco, which is the Agence Française de Développement (AFD)’s structure dedicated to the private sector.

This ambitious change will give Digital Africa the opportunity to deploy direct seed financing capabilities for high potential start-ups across the continent.

Digital Africa’s CEO Stéphan-Eloise Gras said, “Digital Africa’s new organisation, redefined with our partners, allows us to reinforce our commitment to ‘made in Africa’ tech innovations and become a factory for future African unicorns.

“Startups need a ‘one-stop-shop’ combining training, research, project-structuring, support to pro-tech and pro-innovation reforms, and financing.

“From now on, thanks to the merger with Proparco, they will find in Digital Africa a partner capable of offering them support from ideation and seed to growth and hyper growth.

“By putting tech at the service of transparency and efficiency in development aid, and by getting closer to the private sector, Digital Africa wants to make a long-lasting difference!”

Also speaking, Senior Partner at AfricInvest, Khaled Ben Jilani, said, “At AfricInvest, we are interested in projects that have already reached a certain level of maturity in order to support their growth. Of course, they cannot come to us if they have not passed the first stages.”

Continuing, Jilani recalled that, “In 2019, more than 90 percent of African start-ups reported difficulties in financing their seed stage. By focusing on this segment and building new direct funding capabilities, Digital Africa will provide an effective response to a real need – and will impact the lives of African entrepreneurs at the start of their businesses.”

In response, Bosun Tijani, Co-founder and CEO of Co-Creation Hub, noted that, “We need to create value from African tech innovations in Africa – and this will only be possible when the innovation ecosystems are strong and structured enough to retain talent and scale up tech solutions.

“The priority today is therefore no longer, as it has often been the case, to invest in isolated structures and the personalities that run them – but rather to scale the approach by investing in the systems that will create more high-potential projects and build a truly pan-African digital value chain. Digital Africa shares this analysis – and that is why we decided to work with them.”


Kindly share this post

Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

E-Business

Paga Hits N14tri Transactions Value in 15 Years

Published

on

Kindly share this post

Paga, a payments and financial services provider for Africa has processed transactions value to the tune of N14trillion in the last 15 years of its existence.

Tayo Oviosu, chief executive officer, Pagatech, said at a media interaction to mark the company’s 15 anniversary that 80 percent of the amount was done in the last five years.

“When we celebrated 10 years of our business that was five years ago, we have grown our transactions values by 7 times, across the three business arms of our operation which includes; consumer payments, platform as-a-services and super App for retailers.

“This has translated into job creation as we have created over 1,000 direct jobs in Ethiopia and in Nigeria and indirect jobs through our agent network to about 100,000 jobs, this is economic empowerment of Nigerians.

“Our desire is giving people financial freedom and making life possible for them and impacting on our community. We are really proud of our economic achievements and we are making sure that our customers get the best experience.

“We are super excited about what the future holds for our business. Our vision is a world where cash does not exist anymore. We ensure that our customers’ money is safe by complying with the highest global security standards.

“Our focus is on helping both consumers and sellers pay, get paid, and access financial services. We do this directly; and through our Platform-as-a-Service, which enables other third parties to leverage the deep infrastructure we have built for endless possibilities.

Oviosu, further explained the three business lines Paga has transformed into from a mobile money operator from inception to a financial services provider includes; Consumer payment: where anyone can open a Paga account from any type of phone, by download Paga App from Apple or android store or dial *242# from any type of phone device.

“With Paga app, you can fund the account, make payments and also have a physical Visa card or a virtual Visa card on the account. This gives you significant convenience over other bank accounts we have in the market today.

You can send money into that account from any bank account or walk into any bank branch to fund the account. You can as well go to any agent and fund or make transactions from the account,” he said.

He added that when he started the business 15 years ago, there was no infrastructure, “we had to build the required infrastructure to support the business. Two years ago, we opened our infrastructure to allow other technology companies to use it for their own business. We called this Platform as a Service. With Platform as a service we are serving 150 businesses who are using our infrastructure to execute their own businesses.

“The third arm of our business is what we called Doroki this a different brand which is super App for retail business. If you are a supermarket you use it to manage your inventory among others. This is the youngest arm of our business” he noted.


Kindly share this post
Continue Reading

E-Business

FG to Fnalise National Intellectual Property Policy  Soon– NCC Boss

Published

on

Kindly share this post

Dr John Asein, director-general, Nigerian Copyright Commission (NCC), has said that the federal government is taking steps to finalise its National Intellectual Property (IP) Policy and Strategy for the country.

FG to Fnalise National Intellectual Property Policy  Soon– NCC Boss

Asein disclosed this on Friday while commemorating the 2024 World Intellectual Property Day with the theme “IP and the SDGs: Building Our Common Future with Innovation and Creativity’’ in Abuja.

The that the Day is observed every April 26 to celebrate the importance of intellectual property (IP) rights to encourage innovation and creativity.

The director-general was represented by  Mr Emeka Ogbonna, director of Legal.

NCC boss said the policy would serve as a blueprint for a more efficient modern and responsive legal and administrative framework for the country to leverage on its creative and innovative potential.

He said that the day underscored the power of innovation and creativity in achieving the Sustainable Development Goals (SDGs) and shaping a sustainable and inclusive future for humanity.

According to him, the SDGs represent a universal call to action to end poverty, protect the planet, and ensure prosperity for all by the year 2030.

“IP rights play a pivotal role in fostering innovation, creativity, and technological advancements. They provide the framework that encourages men and women to develop new solutions that address global challenges.

“It is the lynchpin for incentivising the use of creative and innovative ideas to solve many of the challenges that confront humanity.

“This year’s World IP Day reminds us that intellectual property can be a powerful tool for social, economic, and environmental development.

“It encourages individuals, businesses, and governments to leverage IP rights to drive innovation, create jobs, and build resilient communities.

“By aligning our intellectual property policies and strategies with the objectives of the SDGs, we can accelerate their achievement,’’ NCC boss said.

He said in the spirit of the “Renewed Hope Agenda’’ of the present administration, government had also shown appreciable commitment to the creative industry as a major sector of the economy.

“As one of the agencies responsible for the wholesome development of the creative sector, the Nigerian Copyright Commission will continue to provide the needed institutional, legal and administrative support for the protection, promotion, regulation and enforcement of copyright.

“The commission will pay particular attention to using the copyright system to advance Goal 1 (No poverty); Goal 4 (Quality education); Goal 5 (Gender equality).

“And Goal 8 (Decent and economic growth); Goal 9 (Industry, innovation and infrastructure) and Goal 17 (Partnerships to achieve the goals).

“We are aware that the goals would have to be adapted to fit the peculiar needs of intellectual property which is an intangible asset.’ ’he added.

The director-general, who said that the commission focused on the 17 SDGs to address emerging challenges, called on authors, innovators, users, IP experts and other stakeholders to reflect on the vulnerability of the nation’s fragile knowledge and creative ecosystem.


Kindly share this post
Continue Reading

E-Business

NITDA, ICF Train 100 Schoolgirls in ICT Skills

Published

on

Kindly share this post

The National Information Technology Development Agency (NITDA) and Illmi Children’s Fund (ICF) have trained 100 schoolgirls in digital and Information and Communication Technology skills training.

Mrs. Maryam Augie-Abdulmumin, ICF Executive Director, confirmed this in a statement on Thursday in Lagos.

The graduation followed the training of the schoolgirls in ICF and NITDA’s DIGITGALS 2.0 programme, a collaborative initiative aimed to equip adolescent girls in Abuja with critical digital and ICT skills.

Augie-Abdukmumin said the DIGITGALS 2.0 centred around essential digital literacy, programming fundamentals, digital marketing and communication skills, and cybersecurity awareness.

She added that the girls were equipped with the confidence to compete and excel in a globalised digital economy. The graduation was in commemoration of the 2024 International Girls in ICT Day celebration on April 25.

DIGITGALS 2.0 is in its second phase and empowered 100 senior secondary school girls selected from five government schools in the Federal Capital Territory.

The girls aged between 15 and 18 years were equipped with the knowledge and tools needed to thrive in the digital world and address the growing demand for ICT skills in the 21st century.

Augie-Abdulmumin reiterated the importance of bridging the digital gap in the country starting with the girl-child.

“This graduation ceremony on International Day of Girls in ICT is a powerful symbol of our commitment to closing the digital gender gap.

This programme made possible through our partnership with NITDA, and signifies a crucial step towards bridging the digital gender gap.

It also fostering a future where women are active leaders in the tech industry. This is also an opportunity for these girls to take charge of their own future,”.

Mr Kashifu  Abdullahi, the Director-General of NITDA, commended the collaborative efforts of ICF in making the DIGITGALS 2.0 a reality.

According to him, building a diverse and inclusive digital workforce is critical for Nigeria’s success.

“We are proud to collaborate with ICF on DIGITGALS 2.0 to empower these young women to become active participants in the tech industry. This programme showcases the importance of collaborative efforts in bridging the digital gender gap.

These girls have been equipped with essential digital skills, and ICF and NITDA are confident they will become active contributors to Nigeria’s thriving tech landscape,”.

ICF is a non-profit organisation dedicated to improving the lives of children, from underprivileged backgrounds, through education, healthcare, technology and entrepreneurship initiatives.

NITDA is a public service institution established in 2007. It functions as the ICT policy implementing arm of Nigeria’s Federal Ministry of Communication and Digital Economy.


Kindly share this post
Continue Reading

Trending