African fintech company, Payday, partners SpaceX’s Starlink in Rwanda. 2 other stories and a trivia

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

1. African fintech company, Payday, partners SpaceX’s Starlink in Rwanda

African fintech company, Payday, has announced a partnership with SpaceX’s Starlink in Rwanda.

Payday’s CEO Favour Ori confirmed the development in a statement seen by Ripples Nigeria on Wednesday.

The African Neobank, which provides distant workers and professionals on the continent with access to digital banking, enables users access to a quick and dependable internet connection.

Payday recently disclosed a $3 million seed investment intended to secure operational licenses in the UK and Canada while setting the groundwork for expansion into numerous other nations throughout Europe and Africa, starting with Nigeria and Rwanda.

“We are excited to expand our digital banking services to Rwanda as well as grow our partnership with Starlink.

“This not only presents an opportunity for us to play a significant role in driving financial inclusion in the country but also contributing to affordable internet connection regardless of location,” Ori stated.

Payday clients in Rwanda can purchase the routers and handle their subscription payments using their virtual cards, according to Ori.

They will be able to use its app to send and receive USD, GBP, and EUR in addition to Rwandan Francs (RWF), just like consumers in Nigeria.

Tech Trivia: Key combinations used to perform commands are also called what?
A. Command Links
B. Keyloggers
C. Keyboard Shortcuts
D. Aliases
Answer: see end of post

2. AfDB Secures $350M Loan Agreement with JICA

To finance the Bank’s support for private sector operations in Africa, the African Development Bank (AfDB) and the Japan International Cooperation Agency (JICA) have agreed to a $350 million loan.

Read also:Tech-backed HR startup, Xobin, unveils AI feature to aid talent assessment

This was contained in an official release from Dr Akinwumi Adesina, President of the African Development Bank Group seen by Ripples Nigeria on Wednesday.

Ripples Nigeria understands that the loan is a part of Japan’s Official Development Assistance to Africa (ODA) program’s Enhanced Private Sector Assistance (EPSA) project.

The Bank and JICA inked the fifth iteration of the EPSA, worth $4 billion, at the eighth Tokyo International Conference on African Development (TICAD 8), which took place in Tunisia in August of last year.

“JICA’s support would be crucial in the implementation of the Special Agro-processing Industrial Zones, which will be the biggest game changer in Africa’s agriculture.

“It will transform rural economies, reduce food losses, process and add value to crops produced in rural areas and create jobs,” Adesina said.

Adesina added that the Bank is creating investment banks for young entrepreneurs to give them financial and technical support throughout the business cycle.

3. Smile Identity acquires Appruve to expand African footprint

KYC compliance and ID verification partner, Smile Identity, has acquired Appruve, a Ghanaian developer of identity verification software to strengthen ID verification services.

Appruve founder and CEO Paul Damalie confirmed the acquisition in a statement on Wednesday.

Smile Identity is a player in the ID verification and KYC compliance market in Africa founded in 2017 by Mark Straub and William Bares.

Appruve also claims it provides an API that verifies user identity, fraud detection, and digital documentation.

“It’s these capabilities, experience, and know-how that we are bringing on board, working together with Smile, which just launched an AML product, to build a fully comprehensive product and solution for the market,” the CEO explained.

Straub added that the latest acquisition will allow it to “cover over 1 billion Africans, the African diaspora, and 100 million African businesses, supporting over 230 documents and data types with integration options for every device and operating system combination in Africa.”

Trivia Answer: Keyboard Shortcut

A keyboard shortcut is a key combination that performs a certain command, such as closing a window or saving a file.

By Kayode Hamsat

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