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Nigerian B2B platform, Sabi, expands into South Africa. 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. Nigerian B2B platform, Sabi, expands into South Africa

A Nigerian early-stage B2B platform, Sabi, has announced an expansion into Johannesburg, South Africa.

In a media release on Tuesday, SABI’s chief executive and co-founder, Anu Adasolum, confirmed that the expansion to South Africa is in partnership with Vumele.

Vumele is an SA-based technology platform that provides informal merchants with access to supplies, logistics, business tools, payment processing, and financial services

According to local sources, Sabi is a Lagos-based African distribution platform that facilitates access to fulfillment, logistics, B2B marketplace, and financial services.

The two-year-old platform was founded by Ademola Adesina, Anu Adasolum, headquartered in Lagos state, Nigeria.

The new expansion comes hot on the heels of an expansion to Kenya.

Speaking on the development, Anu noted that there are also short-term plans to expand to Ivory Coast and the Democratic Republic of Congo.

“We are excited to partner with Vumele in becoming the ecosystem for South Africa’s informal economy of small buyers, sellers and agents

“These hard-working people are an often-neglected group across Africa that provides employment, food and other basic needs for more than 70% of the continent’s population,” Anu explained

Tech Trivia: In what year did Apple release the original Macintosh computer?
A. 1978
B. 1984
C. 1988
D. 1994
Answer: see end of post

2. MENA’s BNPL, ValU, acquires FinTech platform, Paynas

A MENA-focused buy now, pay later (BNPL), valU, has announced acquiring FinTech and digital HR platform, Paynas.

Read also:Cameroonian startup, Taaply, closes $500k from US investors

Walid Hassouna, CEO of valU, in a press release on Tuesday, confirmed the acquisition, describing it as being strategic.

Ripples Nigeria gathered that Paynas is an employee management and benefits company that provides financial services to micro, small, and medium enterprises (MSMEs).

Founded in 2017, valU bills itself as the provider of buy-now, pay-later (BNPL) lifestyle-enabling fintech platforms.

Commenting on the acquisition, Walid stated:

“Paynas is a strategic fit for us, and the combination of our two companies will drive significant value for our shareholders and customers by delivering a 360° financial and lifestyle enabling solution, to addressing every aspect of people’s life and the goal of improving their overall quality of living.”

Walid, though did not disclose the details of the acquisition, noted that Paynas will help connect valU to reach micro, small and medium businesses.

3. Dubai-based neobank, Zywa, secures $3 million seed funding

A Dubai-based neobank, Zywa, has announced securing $3 million seed funding with plans to expand to Egypt and Saudi Arabia.

Chief Executive Officer, Alok Kumar, made the confirmation on Tuesday in a media statement.

Alok also confirmed that Goodwater Capital, Dubai Future District Fund, Rebel Fund, Trampoline Venture Partners, Zemu VC, a number of prominent European family offices, and strategic angel investors participated in the latest round.

Zywa was founded by Alok Kumar (CEO) and Nuha Hashem (CTO) in 2021.

Ripples Nigeria understands that the new funding follows the $1 million pre-seed backing it secured in February this year.

“The seed fund will help us focus on product, growth and strategic partnerships to accelerate our efforts in the UAE and Egypt markets, while prepping us to launch in Saudi Arabia by early 2023,” said Alok.

Zywa is the first neobank for teenagers in the Middle East and North Africa region.

Trivia Answer: 1984

The original Macintosh, released in 1984, was the first personal computer to have a graphical user interface, or GUI.

It was an all-in-one machine with a color display and included a mouse and a keyboard.

By Kayode Hamsat

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