Nigeria’s Traction set to expand after 70k milestone. 2 other stories and a trivia

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

 

1. Nigeria’s Traction set to expand after 70k milestone

 

Nigerian startup Traction, an innovative platform tailored for African Micro, Small, and Medium Enterprises (MSMEs), has announced intent to expand its footprint across its service threshold.

The expansion comes after securing $6 million in funding and recording a 70, 000 customers milestone. 

Founded in 2020, Traction offers a holistic business solutions platform, exclusively designed for African MSMEs. 

The platform empowers businesses by providing tools to manage finances, accept payments, and access vital operational resources.

Operating via both web and app interfaces, Traction aids business owners with streamlined tools that enhance efficiency. 

It offers features such as accepting payments through POS terminals and virtual accounts, point-of-sale software for sales recording and inventory management, and financial services like merchant wallets, cash advance loans, savings, and bill payments.

Traction’s approach in serving African MSMEs is crucial in addressing the needs of a significant sector that drives economies across the continent. 

By offering a range of tools and services that cater to the unique challenges and opportunities of MSMEs, Traction positions itself as a vital partner in Africa’s economic growth. 

The platform’s emphasis on community building, financial education, and strategic partnerships distinguishes it from traditional business solutions. 

 

Tech Trivia: What type of server acts as an intermediary between a computer and the Internet?

1. File server
2. Proxy server
3. Web server
4. DNS server

Answer: see end of post

 

2. d.light secures $125M investment for Off-Grid solar solutions in Tanzania

 

d.light, a company specializing in off-grid solar solutions for low-income households, has secured an additional investment of $125 million to further develop its presence in Tanzania. 

The funding, which is expected to aid the expansion of d.light’s low-cost PayGo personal finance segment, will allow more customers to access sustainable energy solutions.

Founded in 2007, d.light has evolved into a prominent player in the off-grid solar industry. 

Its product lineup spans various solar-powered devices, catering to different household needs. 

d.light’s success demonstrates the potential of off-grid solar solutions to provide reliable and affordable energy access to underserved populations. 

The infusion of funds into d.light’s expansion in Tanzania reflects investor confidence in the company’s ability to deliver tangible impact and returns. 

As energy access remains a critical challenge in many parts of Africa, d.light’s growth contributes to both sustainable development and financial inclusion. 

The PayGo model’s success in scaling up access further underscores the viability of business models that cater to the specific needs of low-income customers.

 

3. Digital Africa invests in GARA’s video game and book ambition 

 

Digital Africa has announced investing in GARA, a pan-African platform that is transforming the distribution landscape for video games, books, and comics across the continent. 

The new injection of capital from Fuzé highlights GARA’s ambitions to expand its presence and capitalize on the growing digital trends in Africa.

The investment is expected to bolster GARA’s expansion efforts, leveraging the digital transformation wave sweeping across Africa.

Founded five years ago under the patronage of President Emmanuel Macron, Digital Africa has evolved into a driving force in nurturing digital entrepreneurs in Africa. 

The organization’s focus on funding and visibility within the startup ecosystem aligns with the growing tech innovation on the continent.

Digital Africa’s investment in GARA highlights the importance of platforms that reshape traditional distribution methods through digital technology. 

The rise of digital consumption in Africa presents significant opportunities for startups like GARA to innovate and provide convenient access to entertainment content. 

As more African consumers adopt digital lifestyles, platforms that offer easy access to digital products like video games and books are well-positioned to tap into a growing market. 

 

Trivia answer: Proxy Server

Most large businesses, organizations, and universities these days use a proxy server.

This is a server that all computers on the local network have to go through before accessing information on the Internet. By using a proxy server, an organization can improve the network performance and filter what users connected to the network can access.

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