Connect with us

News

Google Unveils 25 African Startups Shortlisted to Receive $4M Black Founders Fund

Published

on

Kindly share this post

Google for Startups (GfS) has announced the 25 African-based startups selected for this year’s $4million Black Founders Fund.

The Black Founders Fund, now in its third year, aims to help tackle systemic racial inequality in venture capital (VC) funding by providing equity-free grants and mentoring to early stage Black-led high-growth businesses across Europe and Africa.

The selected cohort of 40 startups from Europe and Africa, includes 25 African startups that embody the diverse entrepreneurial spirit across the African continent. Startups led or co-founded by women make up 72% of the group, highlighting the role women play in shaping Africa’s startup ecosystem. The funding will provide the businesses with the capital needed to take their ventures to the next level and expand to new markets, supercharging economic opportunities and job creation.

Early-stage investment is essential for the success of startups and the African startup ecosystem as a whole. This is crucial for Africa to become a global tech leader. With the significant decrease in African tech investment in 2023, startups in Africa need funds to sustain their growth and develop innovative solutions for the continent.

From accessible healthcare to efficient logistics, to innovative fintech solutions, these startups are harnessing the power of technology to address some of Africa’s most pressing challenges. HealthDart is elevating healthcare by providing comprehensive services and insurance through its digital platform. Tushop is reimagining retail with a group-buying platform in Kenya that encourages cost-saving and community engagement. Herconomy is breaking new ground in the fintech sector with its goal to become Africa’s first women-focused bank.

Each selected startup will receive up to $150,000 in non-dilutive cash awards, up to $200,000 in Google Cloud credits, Ad support, 1:1 mentoring by industry experts and invaluable connections within Google’s network.

Folarin Aiyegbusi, Head of Startups Ecosystem, Africa at Google said “Startups play a major role in advancing Africa’s digital transformation. We look forward to working with this group of innovative founders who are using technology to solve some of the most pressing challenges in Africa. The Google for Startups Black Founders Fund is committed to addressing the stark inequality in VC funding by providing Black founders with the resources and support they need to succeed”

Ifedayo Durosinmi-Etti, Founder of Herconomy, selected for the 2023 Fund comments:, “At Herconomy, we are on a mission to reimagine the financial landscape for women in Africa. Being chosen for the prestigious 2023 Black Founders Fund will fuel our revolutionary vision and accelerate our progress. With the funding and support provided by the program, we will expedite the development of our innovative solutions, enhance support for our valued customers, and expand our presence on an international scale.

Cathy Chepkemboi, Founder of Tushop, selected for the 2023 Fund comments:, “At Tushop, our passion lies in leveraging technology to empower Kenyan consumers and increase their buying power. Our ultimate ambition is to transform the way daily essentials and FMCG products are accessed, enabling individuals to save significantly. With the support of Google for Startups, we are one step closer to realising our goal of positively impacting the lives of millions of consumers in Kenya and beyond.

Njabulo Skhosana, Founder of HealthDart, selected for the 2023 fund comments, “At HealthDart, we empower patients to access affordable and timely solutions for basic health problems through our technology-driven approach. By integrating pharmacy, telemedicine, and insurance with seamless payment options, we ensure affordable access to comprehensive primary healthcare. With the support of Google for Startups, we are poised to further enhance our platform, enabling more individuals to find the most cost-effective and efficient healthcare options.

Since its inception, the Black Founders Fund has facilitated over $205 million in investor conversations, representing a 12-fold increase. This has sparked significant growth within the participating startups, with their combined monthly recurring revenue now exceeding $6.1 million, marking a 7% increase.

List of Startups

  • Akoma Health (Nigeria): Tech platform for accessible, culturally conscious mental health services in Africa.

  • BezoMoney (Ghana) : Digital banking for Africa’s underbanked via mobile/web platforms.

  • Chargel (Senegal): Digital trucking platform connecting shippers/carriers in Francophone West Africa.

  • Charis UAS (Rwanda): Provides 3D geospatial data via drone technology.

  • Evolve Credit (Nigeria): SaaS for digitising and managing banking services.

  • Excel At Uni (South Africa): Supports student funders via digital services.

  • EzyAgric (Uganda): AI-powered mobile technology to enhance Africa’s farming sector.

  • Fez Delivery (Nigeria): Last-mile logistics platform for various industries.

  • Fleetsimplify (Kenya): Monetization platform connecting gig drivers & vehicle owners.

  • HealthDart (South Africa): Digital HMO providing end-to-end health services with insurance.

  • Herconomy (Nigeria): Female-focused fintech aiming to be Africa’s first women’s bank.

  • Jumba (Kenya): Improving Kenya’s construction sector supply chain via B2B platform.

  • MDaaS Global (Nigeria): Tech-powered diagnostic centres for affordable healthcare.

  • My Pocket Counsel (Nigeria): Legal tech platform for contract generation and management.

  • Orda (Nigeria): Pan-African neobank for restaurants, offering cloud-based software.

  • Periculum (Nigeria): Data company aiding in credit assessment, fraud/churn risk.

  • Raenest (Nigeria): Fintech offering global financial services to freelancers/startups in Africa.

  • Ridelink (Uganda): E-logistics platform providing shipping and real-time tracking.

  • Susu (Côte d’Ivoire): Health platform providing healthcare services/insurance funded by African diaspora.

  • Talamus Health (Ghana): Tech solutions targeting healthcare inefficiencies in Africa.

  • TruQ (Nigeria): Streamlining mid-mile logistics across Africa with third-party vehicle connectivity.

  • Tushop (Kenya): Tech platform for group buying of daily essentials in Kenya.

  • Uzapoint (Kenya): Mobile/web POS for digitising bookkeeping in Africa’s informal sector.

  • Zinacare (South Africa): Online platform for accessible, affordable healthcare services.

  • Zydii (Kenya): Localised digital training solutions for African SMEs.


Kindly share this post

Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. 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

News

GMOs are Food Poison – Agric Experts

Published

on

Kindly share this post

Pro organic and agro-ecologists have staged a rally in Ibadan, the Oyo state capital, to protest against Genetically Modified Organisms (GMOs) which they consider as food poison.

GMOs are Food Poison – Agric Experts

The rally was organised by GMO Free Nigeria in collaboration with Organic and Agroecology Initiative (ORAIN).

Olugbenga Adeoluwa, leader of the group and professor of Soil Fertility, University of Ibadan, said they were against genetically modified organisms and raising the awareness of its impending danger.

The News Agency of Nigeria (NAN) reports that a petition was submitted to the Oyo state House of Assembly, and received by Bayo Olaniyan, chief of staff to the Speaker.

The group kicked against the approved genetically modified beans, cotton and maize approved by the federal government.Food and travel guides

They cited toxic herbicides like roundup and others approved by agencies of the government.

Adeoluwa said, “We say no to the incursion of these negative scientific innovations into our food systems, not just in Nigeria, all over the world. Why are we saying this? Genetically modified technology in food systems has been found to counter human health.Food and travel guides

“There are quite a lot of diseases like cancer, organ failure, hormonal failure that have been traced to food consumption, as a result of manipulation of our food system right from the field.”

According to him, there are a lot of research outputs that have been issued recently that have shown the correlation between consumption of GMO foods and human diseases, especially inflammatory of specific organs in human cells.

“I am talking about the organs of test animals which we feel as scientists can also affect humans and so this is why we are saying no to GMOs in Nigeria.

“We know that there are challenges of biosecurity which means that there is no guarantee that allowing these GMO foods and crops into our food system can be curtailed.

“What we are saying is that no to GMOs food in Nigeria, no to anything that could compromise our health, no to negative scientific innovations called GMOs food.”

He encouraged Nigerians to embrace the use of compost and manure, as well as indigenous technology that have been found in seeds and breeds and resistant to diseases, droughts and all manners of things countering healthy living.

Also, Dr. Mojisola Oyewole, a senior lecturer in the University of Ibadan, said the rally was to press home the negative impacts of GMOs.

“The effect of these GMOs on the healthy living of an individual is non-negotiable and so we are in the movement of saying no to GMOs in our society.

Oluwafemi Adebayo, one of the protesters, from the Department of Agriculture Extension and Rural Development, said GMOs had adverse effects on the lives of people.

Chief Moshood Salimonu, a farmer, from Akinyele local government area, said GMO had never been the solution to food security and good nutrition, adding that “I want to see my children grow up healthy and happy.”


Kindly share this post
Continue Reading

News

Auditors Urged to Embrace New Technologies in Service Delivery

Published

on

Kindly share this post

Advanced and emerging technologies such as artificial intelligence (AI), blockchain, robotic process automation, data analytics, among others, are critical for auditors, to deliver real-time audit service in a rapidly changing world.

This was the position of Bode Agoro, head of service, Lagos State, at the 15th annual Lagos State Auditors’ Retreat, with the theme, “Digital transformation in audit: Assessing technological threats and opportunities”, held in Lagos on Thursday.

According to Agoro, in line with the retreat’s theme, there are significant challenges and threats associated with auditing task, which should be mitigated. He mentioned cybersecurity risks and data integrity as some concerns that require continuous skills development detect if auditors must deliver efficient service.

“It is auditors’ responsibility to face these challenges head-on, by leveraging technology not only to improve their operations but also uphold public trust in our systems.

“As we navigate an era defined by swift technological advancements, it is crucial for us, as public servants and stewards of accountability, to adapt to these changes with foresight and agility. As auditors, we must uphold a high standard defined by core principles such as integrity, accountability, and transparency.

“These principles are the foundation of our profession and guide us in our mission to ensure that public resources are managed effectively and responsibly. It is our moral and professional obligation to maintain these objectives, regardless of the challenges posed by the digital landscape”, Agoro said.

Kehinde Joseph, chairman, public account committee, Lagos State House of Assembly, also speaking at the event, charged auditors against colluding with officials of ministries, departments and agencies (MDAs) to defraud the government.

According to Joseph, auditors must at all time work to protect public interest without compromising their integrity.

Speaking also, Muyiwa Adetola, permanent secretary/state auditor-general designate, whose office organizes the annual retreat, said a lot of progress had been made in the area of exposing auditors in the state to new trends and tools that aid their capacity for service delivery.

“As the auditor-general of Lagos State, I am proud to say we have made progress in leveraging technology to enhance public accountability. Yet, our journey is far from over. We must not only adopt new tools but also develop frameworks to ensure their ethical and effective use”, Adetola noted.


Kindly share this post
Continue Reading

News

Nigeria to Enhance National Grid with Additional 150 MW – Adelabu

Published

on

Kindly share this post

Nigeria is set to boost its national grid by an additional 150 megawatts (MW) of electricity before the end of the year, according to Adebayo Adelabu, the minister of power.

Minister Adebayo-Adelabu

Speaking to journalists after a closed-door meeting with President Bola Tinubu and German President Frank-Walter Steinmeier at the presidential villa in Abuja, Adelabu said the milestone would be achieved following the successful completion of the pilot phase of the presidential power initiative (PPI).

The minister explained that the initiative, implemented in partnership with Siemens, aims to improve Nigeria’s electricity supply through strategic projects.

“We believe that before the end of the year, an additional 150 megawatts will be added upon completion of the entire pilot phase,” Adelabu said.

Highlighting international collaboration as critical to Nigeria’s energy development, the minister underscored the country’s partnership with Germany.

“We have a bilateral relationship with the Republic of Germany that focuses on energy and electricity support,” he said.

“The name of the game now is about cooperation, collaboration, and partnership.”

Adelabu described the Siemens project as a flagship component of the partnership, focusing on implementing both brownfield and greenfield transmission substations under the PPI.

He noted that since the agreement was signed in December 2023 at COP 28 in Dubai, Nigeria has made significant progress. “We have completed the pilot phase of this project up to 80%,” he said.

The pilot phase includes the importation and installation of 10 power transformers and 10 mobile substations, with eight already commissioned.

“The positive impact of this is that it has added nothing less than 750 megawatts to our transmission grid capacity,” he said.

Adelabu outlined plans for the next phase, which will involve revamping 14 existing substations and establishing 23 new ones across the country.

“The entire grid is quite fragile and dilapidated. We need to revamp it to ensure stability going forward,” he added.

In addition to addressing immediate power needs, the minister reaffirmed Nigeria’s commitment to renewable energy as part of its long-term strategy. “We have an energy transition plan to achieve net-zero emissions by 2060,” he said.

Adelabu highlighted Germany’s expertise in renewable technologies, which aligns with Nigeria’s natural resources.

“Germany has technology; we have the sun and wind,” he said, noting that over 30 states in Nigeria enjoy a minimum of 10 hours of sunshine daily.

The minister also discussed plans for off-grid solutions, proposing a distributed power model where each state would have its own generating plants.

“This model will shield states from problems on the national grid and ensure rural electrification,” he said.

“Germany’s involvement extends beyond traditional energy sources; it includes significant investments in green energy projects.”

Adelabu concluded by expressing optimism about Nigeria’s energy future, emphasizing that partnerships with Germany and other stakeholders will help build a robust energy infrastructure to support economic growth.


Kindly share this post
Continue Reading

Trending