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Two Nigerian startups shortlisted among top 45 African startups. 2 other stories and a trivia.



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

1. Two Nigerian startups shortlisted among top 45 African startups

A world rendezvous for startups, International Finance Corporation (IFC) has shortlisted two Nigerian startups, Crop2Cash and Koolboks among top 45 African startups driving innovations on the continent.

The shortlist was published in partnership with Viva Technology, assessing startups from Nigeria, Egypt, Kenya, the Democratic Republic of Congo, South Africa, Morocco and others.

The list covered three categories: Climate Tech, FinTech, and Health Tech.

Koolboks made the cut in the Climate Tech category, while Crop2Cash made it into the Fintech category.

Viva Technology Co-Presidents Maurice Lévy and Pierre Louette, and Managing Director Julie Ranty expressed their pleasure on how African technology is evolving in a joint statement.

“Africa is a breeding ground for talent and new ideas, and we are delighted to see so many innovative entrepreneurs participating in this first edition of the AfricaTech Awards,” the statement reads.

The startups will be recognised at the first edition of the Africa Tech Awards.

Tech Trivia: What is the function of the address resolution protocol (ARP)?
A It translates domain names to IP addresses.
B It converts IP addresses to hostnames.
C It translates hostnames to GUIDs.
D It converts IP addresses to MAC addresses.
Answer: see end of post

2. HAVAÍC looks to support African startups

An early-stage African tech investor HAVAÍC has partnered with Universum Wealth in a joint-venture (JV) to support more African startups

Jonathan Sieff, managing partner at Universum Wealth, disclosed this in a statement noting that previous experience with the HAVAÍC team made the JV an ‘exciting opportunity’ for clients.

Read also:Agri-fintech startup HelloChoice closes investment from Standard Bank. 1 other thing and a trivia

Ripples Nigeria understands that the new fund dubbed HAVAÍC’s Universum Core African Fund will allow South African and international investors to participate in venture capital (VC) investments alongside local and international institutional investors.

HAVAÍC, according to local media, is an African-focused venture capital investor that provides technology-enabled solutions for close to half a million customers in over 180 countries around the world.

Sieff, in a statement commenting on the JV, noted that the partnership is strategic and would support more African start-ups.

He said: “HAVAÍC are exceptionally well-networked in the African VC space and have a proven ability to source compelling investment opportunities.

“We are delighted to continue to build our partnership with HAVAÍC and view the fund as an exciting opportunity for our clients, Universum Wealth and other investors.”

3. Kenya’s accelerator platform, The Baobab Network, funds 5 new African startups

A Kenyan accelerator platform, The Baobab Network, has announced funding five new startups with US$25,000 worth of investment.

Arthur Chupeau, Head of Ventures at The Baobab Network, confirmed the new round of investment in a press release as seen by Ripples Nigeria.

With claims to be the fastest-growing start-up accelerator in Africa, the network focuses on early-stage technology ventures across the African continent.

The Nairobi-based tech accelerator was founded in 2015 by Toby Hanington, and Tom Fairburn.

Chupeau, commenting on the goals and number of applicants processed, said:

“We now see over 1,500 applicants each year, and in the past 24 months we’ve processed applications from companies in more than 50 African countries – so our brand reach these days is huge.

“Our goal is to be the preferred partner for every entrepreneur in Africa that wants to raise their first cheque.”

Trivia Answer: It converts IP addresses to MAC addresses

ARP Stands for “Address Resolution Protocol.” ARP is a protocol used for mapping an IP address to a computer connected to a local network LAN.

Since each computer has a unique physical address called a MAC address, the ARP converts the IP address to the MAC address. This ensures each computer has a unique network identification.

By Kayode Hamsat

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