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Seedstars launches FIWAM program to promote financial inclusion. 2 other stories and a trivia



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


1. Seedstars launches FIWAM program to promote financial inclusion


Seedstars has announced the launch of the Financial Innovations for Women Affected by Migration (FIWAM) program to discover and support fintech businesses dedicated to advancing financial inclusion, specifically for migrant women and women impacted by migration in Asia, the Middle East and North Africa (MENA), and Sub-Saharan Africa.

The program, which is backed by the Swiss Agency for Development and Cooperation and the Austrian Development Agency, with funding from the Impact-Linked Fund for Gender Inclusive FinTech (ILF for GIF), is managed by the Impact-Linked Finance Fund (ILFF).

Ripples Nigeria gathered that the ILF for GIF partnered with Seedstars to improve access and utilization of financial products and services for women affected by migration.

The program seeks to address the challenges faced by women migrants, including legislative constraints, documentation deficiencies, language barriers, cultural differences, and limited mobility.

Selected fintechs from Asia, MENA, and Sub-Saharan Africa will receive technical assistance through the FIWAM Growth Program, with a focus on investment potential and scaling their impact for women migrants and those affected by migration.

Tech Trivia: Which subpixel color is not present in a MicroLED display?

A. Yellow
B. Red
C. Green
D. Blue

Answer: see end of post


2. Tesla reduces prices of Model 3 and Y in Japan


Elon Musk-led Automaker, Tesla Inc, has announced a price reduction for its Model 3 and Model Y electric vehicles in Japan.

The company lowered the prices of all variants of its Model 3 by approximately 3% and reduced the prices of all Model Y variants by around 4%.

As a result, the Model 3 has become more affordable in Japan, especially when combined with various subsidies for purchases.

READ ALSO:SA’s Maholla, Ikeja collaborate to enhance internet access. One other story and a trivia

These price reductions come after Tesla previously increased the prices of the Model 3 and Model Y in Japan a couple of months ago.

The current price of the Model 3 in Japan is 5,245,600 yen ($36,362), while the Model Y is priced at 5,637,000 yen.

The long-range and performance variants of both models have slightly higher prices.

Tesla has maintained the prices of its higher-priced electric vehicles, the Model S and Model X, which became available for ordering in Japan in May.


3. Estafsar partners Al Wataniya to drive insurance innovation in Egypt

Estafsar, an insurtech provider in Egypt, has formed an official partnership with Al Wataniya, a prominent insurance company, to leverage technology and penetrate the Egyptian insurance market.

The CEO of Estafsar, Amr Darwish, expressed enthusiasm about the collaboration, highlighting that insurtech companies utilize innovative technology to streamline the insurance process, including mobile apps for insurance purchases, automated underwriting, and digital claims processing.

The partnership aims to revolutionize the insurance industry in Egypt by providing innovative solutions.

The partnership with Al Wataniya will enable Estafsar to further enhance its products and services, offering more benefits to customers.

The main goal is to increase the reach of Al Wataniya, attract new leads, and collaborate with prospective clients, maximizing the advantages of its insurance branches.

This partnership showcases Estafsar’s commitment to driving insurtech dynamics and engaging with various stakeholders, including insurance companies, brokers, and beneficiaries.

The CEO emphasized that their company’s objective, along with the partnership, is to push insurance penetration in Egypt closer to the 4.2% seen in the Indian market.

Since its launch in 2020, Al Wataniya has positioned itself as a leading insurance company, excelling in multiple insurance categories.

Through this collaboration with Estafsar, they aim to leverage technology and bring innovation to the insurance sector, catering to the evolving needs of customers in Egypt.


Trivia answer: Yellow

microLED Stands for “Micro Light Emitting Diode.” A microLED screen is a type of flat-panel display that uses an array of LEDs to create an image. Yellow colour isn’t present.

Each pixel combines three microscopic RGB diodes capable of lighting themselves, eliminating the need for a separate backlight. Since each pixel can be brightened, dimmed, or turned off independently, microLED screens can offer significantly better contrast levels than LCD screens.

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