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Afreximbank to boost international Trade with new product, AfPAY. 2 other stories and a trivia

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This line-up of stories will help you discover the latest happenings around the tech world, today

1. Afreximbank to boost international Trade with new product, AfPAY

A Pan-African multilateral financial institution, African Export-Import Bank (Afreximbank) has launched its new product trade payment services, AfPAY, as it looks to enhance international trade.

Mr Denys Denya, Executive Vice President, Finance & Administration, Afreximbank, confirmed the new product launch on the official website seen by Ripples Nigeria on Friday.

Afreximbank deploys innovative structures to deliver financing solutions towards accelerating industrialization and intra-regional trade.

Ripples Nigeria gathered that Afreximbank had earlier launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU).

Commenting on the new product launch, Denya said:

“We are pleased to introduce into the market a product which transforms this dynamic, which we believe will accelerate cross-border trade on this continent, connecting Africa with an international financial eco-system that will accelerate its development and economic growth.”

AfPAY is expected to serve as an intervention to facilitate the settlement of international trade on open account terms on behalf of identified African financial institutions and their clients.

2. Nigerian payment platform, Quickteller, launches Quickteller Transport

Popular payment tech platform, Quickteller has launched a new feature, Quickteller Transport, to boost Nigerian’s traveling booking experience.

Read also:Egyptian B2B startup, Mazaya, secures $5m pre-seed. 2 other stories and a trivia

Chinyere Don-Okhuofu, MD, Interswitch Industry Ecosystems Division, confirmed the new development on Friday in a media release.

Don-Okhuofo noted that the new feature would allow users to filter their search to specific or preferred operators, and compare fares among other options.

“We are ecstatic to be launching this service. And as we launch our suite of new complementary services, Quickteller customers can be assured of our commitment to providing an excellent experience using Quicktelller to access all their lifestyle and payment needs,” stated Don-Okhuofo.

Quickteller, as a fintech consumer platform, offers digital payments and e-commerce services for convenient Airtime Recharge, and local Funds Transfer.

Tech Trivia: Which device can be unmounted from the desktop?
A. Motherboard
B. Memory module
C. Startup disk
D. External hard drive
Answer: see end of post

3. Crowd-farming startup, Livestock Wealth, secures $55, 000 funding from Khulisani Ventures

A South African crowd-farming start-up, Livestock Wealth, has on Friday secured R10m (approximately $55, 000) from Mineworkers Investment Company’s Khulisani Ventures.

Nchaupe Khaole, CIO of the MIO, confirmed that Khulisani Ventures invested R10 million in Livestock Wealth in a press release.

Livestock Wealth focuses on funding for cattle as it connects investors with farmers that require funding by using cattle as a form of investment.

Ntuthuko Shezi founded the Johannesburg crowd-farming start-up.

“Livestock Wealth is one such entity, with innovation at its heart. It is the perfect example of the kind of companies we continue to seek out mutually beneficial partnerships with,” remarked Khaole.

Shezi added that the funding and partnership from MIC will boost the company’s expansion plans.

Trivia Answer: External hard drive

Unmounting a disk makes it inaccessible to the computer. Of course, in order for a disk to be unmounted, it must first be mounted.

When a disk is mounted, it is active and the computer can access its contents.

By Kayode Hamsat

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