This line-up of stories will help you discover the latest happenings around the tech world, today.
FairMoney, Nigeria-based digital bank, has launched its venture in India, as it pursues emerging market growth.
FairMoney, which aims to give underbanked people access to digital financial services, was founded by Laurin Hainy, Nico Berthozat and Matthieu Gendreau.
With the new launch, FairMoney will take its digital offering and services to India, using loans as a launching pad for its future bank accounts.
Building its infrastructure to support state of the art technologies, it adapts artificial intelligence (AI) to disburse loans to users in seconds, without any human intervention.
By building this automated process, and with a focus on very large countries like Nigeria and India, FairMoney already has close to 1.5 million users across the two markets, and hopes to keep the same fast growth pace.
Speaking on the inspiration behind the founding of the digital bank, Hainy, who has duo citizenship as a Nigerian and German, stated that he noticed the challenge of inadequate financial inclusion in Nigeria, where many because of not having a bank account could not benefit from the traditional banking services.
He said: “Banks stayed apart from this untapped market because of the lack of digital tech expertise to serve people with limited revenues in remote areas.”
Since its new launch in India, the digital bank has grown its figures close to 100,000 users, going forward to show how relevant and useful the product is for the Indian market.
Tech Trivia: Who is considered as the world’s youngest computer programmer?
A. Kautilya Katariya from India
B. Muhammad Hamza Shahzad from Pakistan
C. Bill Frown from England
D. Sola Abolaji from Nigeria
Answer: See end of post.
Malian insurtech startup OKO has announced raising US$1.2 million in seed to fund its expansion plans across African countries.
The four-year-old startup provides smallholder farmers with financial security, developing affordable mobile-based crop insurance products for smallholder farmers.
Currently availanle in Uganda and Mali, the service is accessible to anyone with a phone as claim payments on OKO are automated using satellite data and images.
According to the startup, the round was led by Newfund with participation from ResiliAnce. Mercy Corps Ventures, Techstars, ImpactAssets and RaSa.
The company already has approximately 7,000 paying customers in Mali and compensated more than 1,000 farmers last year, who were affected by floods.
OKO’s customers typically grow maize, cotton, sesame or millet while the startup works with agro-industries to help them with their sustainability goals and secure their relationships with suppliers.
O-Farms has launched as a new agribusiness accelerator in East Africa, going on to become the first in the region.
Founded by Bopinc and Village Capital, the founders received support from IKEA Foundation, and will research, identify and support entrepreneurs who are developing innovative solutions for circular agriculture in the region.
Emile Schmitz, Managing Director, Bopinc, who spoke on the development noted that the hope is for the efforts to create a ripple effect across the wider sector.
The manager said: “SMEs are one of the key drivers for change in the food system; 64% of all food consumed in Africa is handled by SMEs, and the number of agribusiness SMEs is steadily growing.
“By making their business models circular, we hope to create a ripple effect across the wider sector, helping to move food production throughout the region to go from a linear to a circular approach.
“O-Farms will be the first of its kind for Africa, never before have food-producing SMEs been challenged in this way.”
Tech Trivia Answer: Kautilya Katariya
Kautilya Katariya (Indian) who is now 7, is recognized as the world’s youngest computer programmer at age 6 after completing four professional certifications from IBM for Python and artificial intelligence, setting a new Guinness World Record.
Before the emergence of Kautilya, Muhammad Hamza Shahzad was considered as the youngest for becoming a Microsoft Professional already proficient in programs and software development basics at age 7.
Join the conversation
INVESTIGATION….N.3bn down the drain: Why water projects for Enugu communities don’t work
In this concluding part, ARINZE CHIJIOKE talks about some of the projects that are serving the people and how various WASH programmes have failed to tackle...
INVESTIGATION…PARKVIEW ESTATE: Exclusive images of how billionaire property developer incurred Lagos govt‘s anger
Many have seen the demolished building, but not many know the circumstances that led to the teardown of the about...
INVESTIGATION… N.3bn down the drain, as Enugu communities suffer from dry taps
In November 2020, three organizations and the Enugu State government celebrated the completion of N300 million worth of projects that were expected...
INVESTIGATION… How herdsmen crisis compounds woes of already deprived Ogun communities
Earlier in January, the Nigerian media space was awash with reports of violence between herders and farmers across the country....
Investigation… Inside Enugu markets where traders are choked by multiple taxes
In recent times, the world economy has developed tremendously and this is partly linked with activities of petty traders who...
Juve keep Euro hopes alive after ending Inter’s 20-game unbeaten run
Juventus ensured they remain in the race for a spot in Europe next season after they won a dramatic Serie...
BREAKING… Ndidi, Iheanacho win historic FA Cup with Leicester City
Super Eagles duo of Wilfred Ndidi and Kelechi Iheanacho have helped Leicester City to beat Chelsea in the final of...
Aribo, Balogun’s Rangers complete Scottish PL season unbeaten
Super Eagles duo of Joe Aribo and Leon Balogun have helped their club, Rangers to go unbeaten throughout the Scottish...
Champions Man City fight back to beat Newcastle in seven-goal thriller
Newly-crowned champions of the English Premier League, Manchester City came from behind to beat Newcastle United 4-3 in a thrilling...
Nwankwo returns as Rohr names 31-man provisional squad for Cameroon friendly
Simy Nwankwo was handed an invitation to the Super Eagles squad for the first since 2018, as manager Gernot Rohr...
Latest Tech News
TechNigeria: A weekly digest of what went down in Nigeria’s tech space
Today, let’s do a quick one on: • Afrinurse launch • Cyber crime via messaging apps • CDcare launch •...
Nigeria’s CDcare launches zero-interest, pay-later platform. 2 other things and a trivia
This line-up of stories will help you discover the latest happenings around the tech world, today. 1. Nigeria’s CDcare launches...
Nigeria’s ClassNG launches as open marketplace for education. 2 other things and a trivia
This line-up of stories will help you discover the latest happenings around the tech world, today. 1. Nigeria’s ClassesNG launches...
Healthtech startup launches engagement app for African nurses. 2 other things and a trivia
This line-up of stories will help you discover the latest happenings around the tech world, today. 1. Healthtech startup launches...
GirlCode partners Amazon to upskill unemployed women. 2 other things and a trivia
This line-up of stories will help you discover the latest happenings around the tech world, today. 1. GirlCode partners Amazon...
SpaceX to launch lunar mission funded with crypto. 2 other things and a trivia
This line-up of stories will help you discover the latest happenings around the tech world, today. 1. SpaceX to launch...