Norway’s Pangea looks to support African startups. 1 other story and a trivia

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

1. Norway’s Pangea looks to support African startups

A Norwegian accelerator program and investment platform, Pangea, has announced it will be raising funds before the end of the year to support more early startups in Africa.

Pangea’s country director and CEO for Kenya, Anne Lawi, confirmed the development, noting that the organisation is working in partnership with Swedish International Development Cooperative Agency and Kenya Diaspora Alliance.

The development comes on the heels of the onboarding of nine startups to benefit from Pangea’s investment, a credit between $25,000 and $100,000.

Ripples Nigeria gathered that Pangea was founded by Jonas Tesfu in 2016 and has its headquarters in Nordic countries, Scandinavia.

Commenting on the development, Lawi said:

“While the amount of funding invested in startups in Africa has grown over the years, it is still negligible compared to the need.

“And that is why we are working towards unlocking diaspora remittance as a source of funding.”

Tech Trivia: A calculation performed on one or more variables is also called what?
A Program
B Application
C Formula
D Instruction
Answer: see end of post

Read also :Hong Kong’s Sparklabs raises $5m to launch in Pakistan

2. Florida’s financial services firm, eCapital, acquires CNH Finance

A Florida-based financial service firm, eCapital, has announced the acquisition of CNH Finance to bolster its specialty finance business.

Marius Silvasan, CEO of eCapital, made the announcement in a press release on Tuesday.

According to Marius, the transition is hoped to be seamless for clients, staff and partners.

eCapital is a leading finance provider for businesses across North America and the UK that was founded in 1993 with headquarters in Greater Miami Area, East Coast, Southern US.

Silvasan said that the latest acquisition is strategic to engage the professional team of CNH Finance and enhance its growth.

He said: “The addition of CNH Finance complements our current offering and supports our growth strategy as we continue to advance our position in the finance industry.

“CNH Finance has deep expertise and a talented team that will be key as we expand into the healthcare industry.”

Trivia Answer: Formula

The term “formula” has several different meanings, depending on the field in which the term is used. Functions in computer programs often contain formulas. A simple formula, for instance, might convert centimeters to inches. This formula, along with several others, may be used within a metric conversion function.

The function can apply the appropriate formula to the input (typically defined by the input parameters) and produce the resulting value as output. Formulas and functions are similar and sometimes the terms are used interchangeably. However, formulas are often the building blocks of functions, not the other way around.

By Kayode Hamsat

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