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?
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.
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
Join the conversation
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.
Students suffer as contractors abandon Kano school projects after receiving over N70m
In 2019, to improve the condition of public schools in Kano State, the Federal Government disbursed millions of naira to...
SPECIAL REPORT: World Bank road projects go bad in Enugu, as state govt fails to fulfill promise
Counterpart funded road projects between the world Bank and Enugu State government have started to fail, as the state government...
INVESTIGATION: How N70m road construction created more hardship for Sokoto residents
“To address recurrent accidents on Gagi to Gidan Dilo road and Fakon Idi roads, in Sokoto State, the Federal Government,...
INVESTIGATION: Inside Kwara school where students are used as labour on teachers’ private farms
In this report, SHEREEFDEEN AHMAD uncovered how young students in Kwara State, Nigeria, are being used for labour work on...
INVESTIGATION: How Kano SUBEB awarded contracts to inactive contractors, non-existent schools
In an effort to address issues hindering quality education, the Kano State Government in 2020 awarded N88,406,667.10 for the construction...