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South Africa’s Jendamark wins tech innovation award. 2 other stories and a trivia

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

1. South Africa’s Jendamark wins tech innovation award

A South African company based in Gqeberha, Jendamark Automation, has been announced award winner of the Technology Innovation of the Year at the Africa Tech Week Awards.

According to the organizing body, the prize was given to the company for its Odin Manufacturing software, which aims to digitise and improve production efficiencies for small to medium-sized enterprises.

The ceremony, which was held in Cape Town, is the second consecutive award for Jendamark Automation, as it clinched the same competition category at last year’s event.

Yanesh Naidoo, the company’s innovation director, noted that the award served as confirmation that the manufacturing technology developed by Jendamark met a real need for SMEs.

While speaking on the development, he emphasised the importance of building a strong manufacturing-based economy in South Africa and Africa as a whole.

Ripples Nigeria gathered that Jendamark Automation specialises in designing and building assembly lines and special-purpose machines for the global automotive manufacturing sector.

The company’s Odin Manufacturing division works to integrate 4IR technologies by developing digitisation solutions for any production facility.

Tech Trivia: Which of the following is another name for a Web address?

A. VPN
B. ISP
C. URL
D. LAN

Answer: see end of post

2. Egypt’s fintech startup, Balad, raises 7-figure pre-Seed round

An Egypt-based fintech, Balad, has announced raising a seven-figure pre-Seed round led by Acasia Ventures.

This is contained in a press statement seen by Ripples Nigeria on Monday, May 8, 2023.

According to the statement, the round saw the participation of investors including Launch Africa, Future Africa, V&R, Magic Fund, First Circle, Sunny Side, and several family offices.

Ripples Nigeria gathered that the startup was founded in 2022 by Adham Azzam, Sally Asaad, and Mohamed Assem.

The startup operates as a remittance-driven financial service provider with reduced transfer fees and instant delivery of inward remittances via Balad prepaid cards.

The new investment is expected to be used to launch Balad’s remittance platform, develop its technology, hire new team members, obtain required licences, and complete integrations with its banking partner.

3. Saudi’s Morni invests in Egypt’s Helpoo

Saudi Arabia-based mobility solutions platform Morni, has joined an investment vehicle in its Egyptian counterpart, Helpoo.

The funding company disclosed this in a statement on Monday.

According to the Egyptian startup, the deal, whose value is undisclosed, was facilitated by ExitsDotme, a mergers and acquisitions (M&A) advisory firm.

The development, according to sources privy to the information, comes as part of Morni’s long-term plan to invest $10 million in Egyptian mobility startups through ExitsDotme.

Ripples Nigeria gathered that Helpoo was founded in 2022 to offer a full suite of road assistance and car insurance services to its users in Egypt.

Salman Alsahibany, Morni’s Founder & Chief Commercial Officer, while commenting on the development said:

“We plan to meet our expansion goals and find the best matches for them in the next few years. We look forward to creating more opportunities for existing businesses and jobs under our Super-App and becoming the leaders in the region in Road Side Assistance & Automotive services.”

Trivia Answer: URL

Stands for “Uniform Resource Locator.” A URL is the address of a specific webpage or file on the Internet. For example, the URL of the Ripples Nigeria website is “http://ripplesnigeria.com.”

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