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Nigeria’s Kwaba launches venture to split annual rent into monthly installments. 2 other things and a trivia



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

1. Nigeria’s Kwaba launches venture to split annual rent into monthly installments

In a bid to make house rent payment convenient, Kwaba, a Nigerian Fintech startup, has launched its venture to help low and middle income earners split their annual rent into simple monthly installments.

Although, earlier founded in 2019, the startup did not launch until January 2020.

The ease from the idea has become even more plausible since the turnout of events after the outbreak and economic effect of the pandemic.

As a Fintech startup, Kwaba makes rent payment less stressful, and also offers further services such as apartment search, quick funds at affordable rates.

According to reviews, the startup also provides credit facilities for the purchase of properties.

Obinna Molokwu, founder of Kwaba, in a brief statement, noted that the mission of the startup was to ease house payment hassle.

He said: “Our aim is to help renters ease the financial burden associated with rent payment.”

Tech Trivia:

What is the parent organisation of Google?

A. Apple
B. Alphabet Inc.
C. Microsoft
D. Ford

Answer: See end of post.

2. Skudu closes funding from leading agri-food tech investor AgVentures

South African agri-tech startup Skudu has announced closing funding from AgVentures.

Reputed as one of Africa’s leading agri-food tech investors, AgVentures, through the fund, will help Skudu become a leading online marketplace for agricultural inputs and produce on the continent.

The 3 year old Skudu helps agribusinesses lower input costs while increasing yields by mastering agronomy, or soil science, through technology.

READ ALSO: Egyptian startup closes $160k to grow AI-enabled platform. 1 other thing and a trivia

Offered free for farmers, the platform allows them to digitally manage their respective farms.

The platform concerns its operations with the sorting out what dosage of fertiliser to apply where, reporting, block management and note taking, with multi-user access and offline functionality.

However, for agronomists, it acts as a tool to generate reports at a much faster rate.

3. MAIN partners German firm to help Egyptian founders develop documents to raise funds


As part of its effort to fast track fundraising processes for Egyptian founders, the Middle East Angel Investment Network (MAIN) has partnered the German Development Cooperation to launch free standard Egyptian legal documents for early-stage investors and founders.

MAIN, which is a network of MENA’s leading early-stage investors, promotes angel investing in the region.

According to MAIN, the initiative, which will be implemented by GIZ Egypt, would “open source” a key set of documents, including an Equity Term Sheet, Shareholder Agreement and Subscription Agreement.

Available for download on the MAIN website, the offering is designed to save founders and investors time and money.

Industry insights revealed that leading international firm Venture By Shahid Law Firm drafted the best practice documents, including notes to assist users in customising specific sections.

Tech Trivia Answer: Alphabet Inc.

Google LLC is an American multinational technology company that specializes in Internet-related services and products, which include online advertising technologies, a search engine, cloud computing, software, and hardware. It is considered one of the Big Four technology companies alongside Amazon, Apple, and Microsoft.

In August 2015, Google announced plans to reorganize its various interests as a conglomerate called Alphabet Inc. Google is Alphabet’s leading subsidiary and will continue to be the umbrella company for Alphabet’s Internet interests. Sundar Pichai was then appointed CEO of Google, replacing Larry Page who thereafter became the CEO of Alphabet.

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