TechNigeria: A weekly digest of what went down in Nigeria’s tech space

The week that featured Nigeria’s Independence Day anniversary, beyond the national celebration, accounted for a significant rise in equity, as two startups secured funds from international investors.

While portfolios of these companies where expanded, the week also saw the opening of an opportunity window for interestedfemale data analysts, to benefit from a 6-Month paid training in Lithuania.

Below is a digest for the week, highlighting the major tech build up.

Wins and recognitions

Nigeria’s ColdHubs won $100k Global Maker Challenge cash prize, a major highlight during the week courting the attention of the global audience.

The challenge, which is an annual contest organised by the Mohammed bin Rashid Initiative for Global Prosperity, soughtto reward ideas focused on Innovation for Peace and Justice, Sustainable and Healthy Food for All, Innovation for Inclusive Trade, and Climate Change.

Nigeria’s mobility company MAX.ng secured $1m in oversubscribed bond.

While the new raiser came under a first-of-its-kind securitisation of vehicle lease receivables under a Private Company Bond programme for the transport company; it equally marked its completion of over one million trips.

Quite impressive for the startup, going on to maintain a steady financial traction after taking part in the World Bank’s XL Africa accelerator in 2017. Today, reviewing its capital and equity, the company has raised over US$8 million in funding bytraditional methods alone.

Out of nine African finalists, seven Nigerian Startups have emerged finalists in the €10,000 HiiL Innovating Justice Challenge 2020.

Contending with multitude, the startups pitched their innovative justice solutions at a live virtual event organised by HiiL.

The Nigerian-founded startups made the headlines as HiiL, being the challenge host, recognised their efforts and expertise to ensuring justice is accessible. Blowing the trumpet of the selected startups, HiiL noted that it was committed to support and accelerate innovative justice enterprises. To this end, the 7 startups will benefit from HiiL’s training, mentorship, grant as well as opportunities for networking.

Read also: TechNigeria: A weekly digest of what went down in Nigeria’s tech space

Opportunity window

A programme (aimed at supporting women in tech and closing the global tech gender gap) is currently looking to absorb 15 female entry-level Data Analysts and Data Scientists from Nigeria. The  programme will avail selected candidates a 6-month paid training in Lithuania.

The internship will include intensive training and a job placement at a Lithuanian ICT company. To invest in Nigeiraand the female gender, Digital Explorers is partnering with Ventures Platform, Enterprise Lithuania, AfriKo, Diversity Development Group, and Code Academy to implement the traineeship programme.

Also, Wema Bank launched its innovation challenge, calling out, during the week, for entries to pitch solutions in agritech, healthtech, and others. With an underlying belief that advances in banking and financial technology means more efficient solutions in dealing with the demands of an evolving market,Wema bank continues to make creativity and innovation as the hallmark of its operations long after its establishment in 1945.

However, Wema Bank will remotely pull together teams who have designed solutions for prevailing everyday challenges in these essential areas – Health-tech, Agric tech, Edutech, Financial technology services and Gaming & Betting.

The loss

Nigeria conceded a chance to clinch the Visa Everywhere Initiative’s Pandemic Challenge, losing to Kenya’s Sokowatch.The challenge, which was aimed at identifying solutions to help rebuild small businesses affected by COVID-19, was organized by the Visa Everywhere Initiative, a global innovation programme that calls for startups and fintech companies to step up and provide solutions to tomorrow’s commerce and payment challenges.

While is in need of the opportunity, Kenya’s Sokowatch will use the tech-enabled solutions gained to improve supply chain inefficiencies and transform access to essential goods. It is, however, expected that the startup will further utilise the solution to quickly respond to the crisis in a way that directly supports the families and shop owners in the communities through our unique credit extension model and the e-voucher scheme.

Remarks

These stories, and many others, made headlines during the week.Join us next week for another edition of TechNigeria.

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