LATEST TECH NEWS: Kenya’s Motoqaa launches lease-to-own vehicles platform. Two other things and a trivia you need to know today, November 26, 2020

These latest stories from the tech space will keep you updated with trends today.

1. Kenya’s Motoqaa launches lease-to-own vehicles platform

Motoqaa, a Kenyan startup, has reportedly launched a digital lease-to-own vehicle platform. The marketplace helps drivers acquire vehicles over time. Since its launch, Motoqaa provides managed services for peer-to-peer lease-to-own contracts for vehicles in the taxi-hailing business.

Speaking on the development, Motoqaa founder, Mugambi Munyua, noted that the bulk of the task was to source drivers, collect payments and manage operations.

He said: “We source for drivers, collect payments and manage operations necessary to keep the vehicles and drivers on the road.”

According to the board, the startup currently manages a fleet of 28 vehicles. Speaking on the previous involvement of Munyua and co-founder Olivia Gachoya in the taxi business, press acknowledged that they have been in the taxi business since 2016.

Munyua noted that his experience in the space has helped his startup advanced its operations.

The founder added: “We have advanced our operations by building in-house technology to implement pay-as-you-go models for vehicles using devices that can immobilise or mobilise the vehicle based on the status of payment.”

In Motoqaa school of thought, supporting car ownership will make participation in the ride-hailing economy more profitable for drivers, while also helping its finance partners make returns.

2. South Africa’s Vault Share launches Africa’s first social card

Vault Share has launched the first social card in Africa, a new digitally savvy product. The South African startup pushes to revolutionize local and global businesses by offering network opportunities.

According to review, Vault Share simplifies networking process with a unique app and tech-based tool. Although, developed by South African entrepreneurs, Vault Share allows users to store contact information and share digital biographies instantly, through the easy-to-use tech product, simplifying the process of networking.

Commenting on the development, Vault Share’s co-founder, Dr. Chad Marthinussen, noted that the South Africa product supports business trends during the COVID-19 pandemic.

He said: “With the share card, you do not need to handle someone else’s device to help them find your details, they have full access to it via Vault Share. We believe that COVID-19 has opened the door for many novel ideas to come to life and novel ways of doing things will soon become the norm.”

According to press, Vault Share is powered by the owners of the Vault Brand, who are Cape Town-based entrepreneurs.

Tech Trivia:

Which of these tech giants started as a grocery store, selling vegetables?

A. Appl

B. Tecno

C. Samsung

D. Microsoft

Answer: See end of post.

READ ALSO: LATEST TECH NEWS: Google invests R2.2-billion in South Africa. 2 other things and a trivia you need to know today, November 25, 2020

3. Zambian women-led startup receives funding from ShEquity

WidEnergy Africa, a Zambian women-led energy startup, has joined the list of startups who received funding in November. The women-led startup, according to press, received an undisclosed investment from ShEquity, an investment vehicle that offers smart and sustainable investments to African women entrepreneurs and innovators.

The Chief Executive Officer of WidEnergy Africa, Liliane Munezero Ndabaneze, said the aim of the investment is to assist Zambians in rural areas who don’t have access to clean energy solutions.

She said: “We are committed to improving the lives of many people living without reliable electricity and energy, more especially during the current COVID-19 days. With a business as capital intensive and demanding as ours, who support you along the way, determines how you thrive.

We are confident that the ShEquity timely investment in WidEnergy will enable us to navigate through these uncertain times and that we will together flourish and reach greater heights. We are excited at the possibilities this partnership presents.”

Industry insight further revealed that WidEnergy Africa was established in September 2016 by Liliane Munezero Chabuka, Agnes Imasiku, and BiziSol.

Tech Trivia Answer: Samsung

Samsung was founded as a grocery trading store on March 1, 1938, by Lee Byung-Chull. He started his business in Taegu, Korea, trading noodles and other goods produced in and around the city and exporting them to China and its provinces.

After the Korean War, Lee expanded his business into textiles and opened the largest woolen mill in Korea.

He focused heavily on industrialization with the goal of helping his country redevelop itself after the war. During that period his business benefited from the new protectionist policies adopted by the Korean government, whose aim was to help large domestic conglomerates (chaebol) by shielding them from competition and providing them easy financing.

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