This line-up of stories will help you discover the latest happenings around the tech world, today
1. Egypt’s Sympl partners CFCM to enhance customer satisfaction
An Egyptian fintech startup, Sympl, has announced a partnership with Cairo Festival City Mall (CFCM).
Robert Hall, General Manager at Al-Futtaim Malls, in a media release on Wednesday confirmed the partnership, describing it as being strategic.
Founded by home-based Egyptians, Sympl is a “save your money pay later” platform for bank card holders.
Ripples Nigeria gathered that CFCM is Egypt’s leading shopping, dining and entertainment destination.
Hall, while speaking on the development, expressed optimism about the new partnership.
“We believe this collaboration will enhance customer satisfaction, and provide an exceptional and unique payment model when shopping at Cairo Festival City Mall,” he said.
Tech Trivia: Which of the following is a type of database?
Answer: see end of post
2. Africa’s largest retailer, Shoprite, secures $205m loan
South African retailer outlet, Shoprite, has secured a R3.5 billion (US$205m) loan from Standard Bank and Rand Merchant Bank, RMB.
Sanjeev Raghubir, Group Sustainability Manager, confirmed the new development in a media release seen by Ripples Nigeria on Wednesday.
Ripples Nigeria gathered that the funding is a split of a R2 billion (US$117m) loan from Standard Bank, and R800 million (US$46.8m) sustainability-linked loan.
In a similar manner another R700 million (US$41m) green loan was obtained from RMB.
“The loans enable us to continue on the road to reduce our environmental footprint by using more renewable energy and sustainable packaging, and recycling more waste.
“These environmental programmes are key in our fight against climate change, and we are able to increase the pace and intensity of our actions with these loans,” said Sanjeev.
The funding is expected to be used to boost energy efficiency, renewable energy, and sustainable packaging.
3. Adtech Startup, ArabyAds, secures $30M pre-Series B funding
An Egyptian Adtech startup has announced securing $30M pre-Series B funding from AfricInvest, a pan-African investment platform that manages a variety of alternative asset classes.
Mahmoud Fathy, the company’s co-founder and chief executive, confirmed the new funding in a media statement seen by Ripples Nigeria on Wednesday.
ArabyAds bills, according to local sources, runs a full range of service of the online marketing agency, creative function, advertising and more.
The Cairo-based startup was founded in 2014 by Mohammad Khartabil.
Commenting on the raiser and intent, Fathy stated:
“ArabyAds is now looking to expand into newer markets where it can use its scalable, secure, and end-to-end platforms to assist e-commerce companies in scaling up without difficulty around the world.”
Trivia Answer: NoSQL
NoSQL is a non-relational database that stores and accesses data using key-values. Instead of storing data in rows and columns like a traditional database, a NoSQL DBMS stores each item individually with a unique key.
By Kayode Hamsat
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