Mastercard, Illicocash partners to drive E-Commerce. 2 other stories and a trivia

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

1. Mastercard, Illicocash partners to drive E-Commerce

Mastercard and Illicocash, a fintech arm of Rawbank, have joined forces to extend e-commerce accessibility to millions in the Democratic Republic of Congo (DRC).

This innovative virtual card initiative facilitates the transition of consumers and businesses into a digital era, laying the groundwork for enhanced financial inclusion and a thriving online economy.

According to the duo, consumers can now enjoy seamless online shopping and entertainment subscriptions, while startups and small enterprises benefit from increased flexibility and efficiency.

Speaking on the duo, Illicocash’s General Manager, Karim Nouri, stated: “This program addresses a critical need in our country. As pioneers in digital payments, we take pride in partnering with Mastercard to provide innovative solutions that extend financial access to the unbanked and underbanked.”

Also speaking, Mastercard’s FSSA Country Lead for MENA West, Jean-Charles Yallet, said: “Our primary focus is on building a more comprehensive digital economy. Collaborating with local fintech leaders like Illicocash enables us to empower millions in the DRC and beyond, facilitating the adoption of digital transactions.”

Trivia: When a software function calls itself, it is known as what?

A. Revision
B. Refraction
C. Relation
D. Recursion

See Answer below

2. Lendable invests $7M in Sun King’s African Expansion

Leading financial technology debt provider, Lendable, has committed a $7 million investment loan to support Sun King, a global leader in off-grid solar energy solutions, in its ambitious expansion across Africa.

The debt-investment, according to the startup, aims to bolster Sun King’s capacity to scale its operations, advancing its commitment to delivering clean energy solutions to low-income consumers through its innovative pay-as-you-go (PAYG) financing model.

Sebastian Wichmann, Lendable’s Regional Head for Africa, expressed enthusiasm for joining Sun King’s journey to broaden access to clean energy solutions on the continent.

He stated: “Our investment underscores our dedication to sustainable development and promoting clean energy initiatives. Sun King’s proven track record and commitment to innovation align seamlessly with our mission, making this partnership a powerful force for change.”

Founded in 2007, Sun King has emerged as a benchmark for off-grid solar performance and design, impacting over 107 million people in underserved communities to date.

3. Singapore’s Locofy unveils new design tool

Locofy, a Singapore-based frontend development platform supported by Accel, is seeking to streamline the coding process by introducing Lightning, a one-click tool that seamlessly transforms Figma and AdobeXD prototypes into functional code.

Built on Locofy’s Large Design Models (LDMs), Lightning operates as a Figma plugin.

According to the startup, the new tool automates nearly 80% of frontend development, enabling developers at lean startups to prioritize business operations and market strategies.

Initially launching for Figma, the Lightning tool will cater to website and web app development.

Locofy invested over $1 million in developing Lightning, targeting startups and customer-focused enterprises with small teams seeking to expedite frontend development.

The startup is backed by $7.5 million in funding from investors like Accel and Northstar Ventures.

Trivia Answer: Recursion

Recursion is a process in computer programming in which a function calls on itself as a subroutine. The concept is helpful when addressing a problem that can be solved by breaking it up into smaller copies of the same problem.

Every time a recursive function runs, it tells itself to run again, not stopping until it meets a specified condition. Functions that incorporate recursion are called recursive functions.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now