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Finclusion and Lipa Later Raise Pre-Series A Funding

Finclusion and Lipa Later are African fintech that has announced their pre-Series A funding rounds. Finclusion in its pre-Series A round raised $20 million in a mix of equity and debt funding while Lipa Later raised $12 million.

The 2 African startups have raised a sum of $32 million to further enhance their fintech solutions across Africa.

Finclusion and Lipa Later

Finclusion

This is a startup that drives financial inclusion in sub-Saharan Africa with the use of AI-powered and data-driven lending. It was founded in 2019 and has its HQ in Mauritius. Investors in the round include

  • Andela and Flutterwave co-founder Iyin Aboyeji (who invested with his VC firm Future Africa)
  • LendInvest founder, Christian Faes
  • ComplyAdvantage founder, Charlie Delingpole

In addition, Klemens Hallmann, Jai Mahtani, Sudeep Ramnani, Amandine Lobelle, Jonathan Doerr, and Richard Aseme (RCA Ventures) were not left out.

The company says it uses in-house proven successful advanced proprietary AI algorithms to prevent fraud and grant credit. In addition, it plans to expand into South Africa, Kenya, Tanzania, Namibia, Eswatini, and also Uganda, and Mozambique.

Lipa Later 

This is a Kenyan buy-now-pay-later (BNPL) startup that has a total of $16 million in funding (with the recent pre-Series A) since its inception in 2018.

The pre-Series A round, which is also a mix of equity and debt has a list of investors that includes

  •  GreenHouse Capital and Lateral Frontiers VC (they also led Lipa Later’s seed investment round)
  • Sayani Investments and Axian Financial Services
  •  Cauris Finance, SOSV IV LLC

Lipa Later intends to use the funds to grow its existing markets in Rwanda, Kenya, Uganda and also expand into new countries. It is looking to expand into Nigeria, Ghana, Tanzania, and South Africa.

The company started with the provision of finance for mobile phone purchases and later expanded to other retailing areas like furniture, electronics, and home appliances. 

Lipa later is primarily operating online but offers offline solutions for small retailers and merchants who are yet to have an online presence. 

 

Call For Startups To Pitch Live At Africa Startup Summit Nairobi

Startups are invited to pitch live at the Africa Startup Summit in Nairobi. Applications are now open for the 2022 edition of Pitch Live at the 4th Africa Startup Summit that will be held in Nairobi next month.

The Africa Startup Summit is part of the fourth annual Africa Tech Summit that will be held live and onsite in Nairobi, Kenya, from 23-24 February 2022. The 2-day event will showcase Africa’s startup ecosystem and entrepreneurial talent.

An overall of ten startups will be selected to present their products and asked to come on stage to an audience of more than 500 leaders in the African technology world, including angel investors, corporate organizations, accelerators, and the media.

Founder of Africa Tech Summit, Andrew Fassnidge said, “ We are delighted to welcome back African startups to Pitch Live on stage at Africa Tech Summit. While the last two years have been very challenging globally, many tech ventures across the continent have flourished. Supporting the ecosystem and creating a platform for these startups to connect with investors and corporate is what the Africa Startup Summit is all about.”

Startups that get selected will also have access to the full event, which features three summits and a wide range of workshops, discussions, and networking sessions. Ventures must be African, that is, they must have at least, one African cofounder or have their headquarter in Africa. Startups must also be less than five years old, have at least an MVP with existing ideal traction, must have raised less than US$1 million in external funding, and currently have an “ask”.

Startups that will like to pitch must be able to attend the Summit in Nairobi in person. Applications are available until the 30th of January, 2022, and will be reviewed on a rolling basis.

If you are interested, apply here.

Digital Technology; A Key to Economic Growth, Says Obaseki

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Digital Technology is key to economic growth, says Edo State Governor Godwin Obaseki.

The call came at a virtual technology roundtable aimed at helping Nigerians realise their full potential and take advantage of the opportunities given by digital technology.

Nigerians have been advised to use the digital arena to boost economic growth and the country’s Gross Domestic Product (GDP).

Obaseki, speaking at the 7th Mike Omotosho Annual Lecture, said that given the kind of disadvantages in the country, the digital economy must be a key leveller to aid the country’s economic development.

“Since 2020, the world has significantly changed; this new economy has become even more amazing and substantial,” Obaseki remarked. The majority of Nigerians use the telephone to actively participate in the digital economy. The digital economy and its activities generate millions of dollars for countries and the global economy, and this is what we now refer to as the new economy, thanks to smartphone penetration and other electronic gadgets.

“Today’s method of communication is digital, and it is based on technology that has advanced as a result of the constraints we faced during the COVID-19 pandemic.”

To lift people out of poverty, Obaseki underlined the importance of creating wealth, reducing unemployment, and increasing the country’s GDP, as well as focusing on technology.

“It may not be a single magic wand, but technology obviously has a role to play in assisting us in rethinking our economy and fostering growth.”

“First, we must consider data as well as new technology. Surprisingly, digital technology may be used in practically any aspect of our lives. When it comes to developing a digital strategy for our country, we must consider very carefully.”

Dr. Mike Omotosho, the convener, stated that COVID-19 technology is causing digital transformation in all important sectors, and it is clear that individuals can be more productive by using technology.

Omotosho went on to say that it is critical for the government to use digital breakthroughs to enhance the economy, citing the fact that the wealthiest 26 people on the planet made the majority of their fortunes from digital intellectual property.

“As long as we do it well, the sky is the limit, I said this because digital solutions have the potential to revolutionise the economy.”

“To do it properly, we must be deliberate, collaborate closely with stakeholders, prepare a complete list of what is available, organise it so that it is not overwhelming, and guarantee that the content is easily accessible to everybody.”

Waive Offers Free Meals to Customers in its Pre-Launch Campaign

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Waive sets to launch its on-demand delivery app in February 2022. This event is pipelined to unveil the technological prowess of its super delivery app. Before the event, the company has partnered with restaurants in Lagos and Abuja to provide 50 Free Meals to the public in the Waive’s Pre-Launch Giveaway.

Called Waive Delivery, the app is believed to be the future of anything delivery for businesses in Nigeria, Africa, and the world at large. It’s reported to provide individuals, companies in the hospitality space and beyond, with the best delivery management platform for individual and business needs.

The company, Waive, is an on-demand delivery technology company that connects users with local businesses. It’s built custom-made applications for businesses striving to improve their service delivery. It has a robust marketplace application that allows anyone to order meals and other items from their favourite local merchants and drivers deliver them directly to their doors.

Analyzing the market friction, Waive’s Marketing Lead, Seyi King said, “One of the biggest feedback gotten from users of on-demand services in Nigeria is the clamour for fast-delivery services. Users don’t want to wait for hours to get their orders.

This informed the product development in Waive. With Waive you are guaranteed not only same-day delivery but fast delivery of your order. This is possible through an advanced geofencing solution that routes your order to the closest Waive rider around you. The goal here is to ensure the fastest possible delivery.”

“Waive is bringing game-changing technology to the on-demand market in Nigeria. Waive is fulfilling Nigeria’s demand for an all-encompassing delivery platform for food, groceries, and deliveries of any sort.

We want to become the Instacart for Africa. Nigeria is a unique market and its consumers appreciate technology solutions that elevate their life and give them freedom.” – CEO of Waive, Joseph Omale.

The Marketing Lead, Seyi King, furthered that, “The pandemic has come with all its woes, however, one area that has witnessed a massive increase as a result of the pandemic is the clamour for on-demand services.

Over the last year, several new players have entered the on-demand market in Nigeria. Nigeria with a smartphone population of over 50 million is home to the second biggest on-demand market in Africa. The launch of Waive in Nigeria will no doubt place Nigeria as the hub for on-demand delivery services in Africa.”

As a customer-centric platform, Waive is giving out 50 free meals to users in Lagos and Abuja. To win in this pre-launch event, follow the steps below

  1. Download Waive on Playstore or AppStore
  2. Share your referral code with 5 people and get them to install Waive
  3. Make a Post about Waive with the hashtag #AbegUseWaiveForShopping on Social Media, and you’d stand a better chance of winning.

Follow Waive Inc on all its Social Media channels for the latest updates.

On Facebook

On Twitter

On Instagram

On LinkedIn

ATRI and GAU Token Holders Meet New Dawn

ATRI and GAU token holders meet new dawn as they will now engage in new innovative entertainment initiatives. This is as a result of ICICB group, Atari token, and Atari coming together with a competitive gaming platform, Gamer Arena.

These companies are forming a strategic alliance to launch innovative gaming projects, joint activities, and promotions. Moreover, ATRI and GAU token holders will also witness joint tournaments and lots of other surprise activations.

This partnership will ease regional collaborations covering Turkey, the Middle East, and North Africa. Meanwhile, Atari token (ATRI) and Gamer Arena Utility token (GAU) are already in use in the new entertainment industry projects.

About the partnering companies

Atari

Atari comprises Atari SA and its subsidiaries. Most important, it is a global interactive entertainment and a multiplatform licensing group.

Atari is the innovator of the video game that was founded in 1972 and it owns and manages a profile of over 200 games and franchises. This includes brands that are globally known such as  Missile Command®, Asteroids®, Pong®, and Centipede®.

From this awesome profile of intellectual properties, Atari delivers great online games for tablets, smartphones, and all connected devices.

Atari also builds and distributes interactive entertainment for Sony, Microsoft, and Nintendo game consoles. It leverages its brand and franchises with licensing agreements. The agreement is through other media, derivative products as well as publishing.

ICICB Group

ICICB group is a financial services and investment management company in UAE operating in over 26 countries across the globe. The group develops and delivers new products and services to meet the expectations of stakeholders, partners, and customers.

The Group is building the world’s fastest blockchain platform and metaverse that will be a cryptocurrency and virtual marketplace based.

It aims at transforming the tech industry into a decentralized, virtual reality platform rethinking the whole user experience. This is done by using augmented reality and blockchain technology.

ICICB is known for its licensing agreement with Atari that brought about the development of Atari hotels in Georgia, Dubai, and Gibraltar.

Game Arena

Game Arena is an online competitive gaming platform i.e play to earn where gamers can match and compete with opponents and teams of the same skill level. This is across various skill-based gaming titles on all devices like PC, Console, and mobile.

The platform owns the launched Cryptocurrency GAU token available on Icrypex. The Gamer Arena platform allows the use of this token for playing on games and shopping for various items within its platform. Above all, you can also transfer out the token for other in-game currencies.

Gamer Arena has been in existence since January 2020 and currently has over 300,000 gamers competing on the platform.

 

 

Copia a Kenyan Retailer Raises $50 Million for Africa Expansion

Copia is a Kenyan-based mobile commerce platform and goods distributor that just raised $50 million to fund expansion into Africa.

Copia is one of the African Startups that looks to use Information technology in solving Africa’s problem. Problems like informal and highly fragmented retail markets.

About Copia

The mobile commerce platform was founded in 2013 and has since been serving mid-level and low-income customers. These a majorly customers who reside in the rural parts of the East African Nation.

Copia uses mobile technologies, a network of over 25,000 agents (small shopkeepers) to take orders and make goods delivery. It has its own logistics facilities which it uses to reach shoppers that do not have access to formal retailers like supermarket chains.

The Series C funding

The recent Series C funding round was led by Goodwell Investments, a Netherlands-based company. And other investors include German development financier DEG; Lightrock and the U.S International Development Finance Corporation.

With this funding, Copia intends to expand further into African countries but did not specify exactly which nation it will expand to.

Although it said there are millions of consumers across the African Continent who are underserved by formal retailers.

The Kenyan-based mobile commerce platform and goods distributor also did not reveal the valuation of the company.

According to the firm, the company is capable of delivering services to the most remote locations in Africa. Places with poor road infrastructure or those that do not even have an address for easy and proper location.

Meanwhile, this service will come at no additional cost so as not to overburden the customer. Also, urban residents can use this service to shop on behalf of friends and family upcountry.

 

How Tech Has Revolutionized Content Writing With Artificial Intelligence

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The world of content writing is transforming. It’s not just about how we write, but also how we work with clients and our roles in creating great content for them.

We’re living through an exciting time where technology has finally caught up to the needs of businesses and consumers alike. The internet has created a new era of business communication, which means that it’s never been easier to get your message across.

But there’s more to this than simply communicating online; you need to do so effectively if you want to succeed. And that requires a different approach from traditional marketing methods.

In this post, we’ll look at how artificial intelligence is transforming the world of content writing. We’ll explore what it can offer your business and how you can use it to improve the quality of your content.

What Is Artificial Intelligence? How Does AI Work?

Artificial intelligence (AI) is a field of computer science focused on building systems that think like humans. That includes everything from self-driving cars to chatbots and even the ability to create art or music.

It was first developed as part of military research during World War II, when computers were used to help analyze radar data and other information.

Today, AI is used by companies worldwide to automate tasks, make decisions, and solve problems. Many people believe that it will eventually replace human workers entirely.

So, what does this mean for content writers?

AI can help us produce better content faster, and it can also save us a lot of time, among other benefits.

What Are The Four Types Of Artificial Intelligence?

There are four main types of AI:

  1. Natural Language Processing: This type of AI uses natural language processing to understand the meaning behind words and phrases. For example, it can read the text and identify keywords, then suggest relevant articles based on those keywords.
  2. Machine Learning: This type of AI learns from experience and makes predictions based on previous examples. It can learn from past mistakes and adjust its behaviour accordingly.
  3. Deep Learning: This involves using neural networks to perform complex calculations. These networks have multiple layers, each representing a level of abstraction. They can combine these layers together to form higher-level abstractions.
  4. Reinforcement Learning: This type of artificial intelligence teaches machines to act autonomously. It rewards them for doing things correctly and punishes them for making mistakes.

What Are Examples Of Artificial Intelligence?

The rise of AI has had a significant impact on how businesses operate. It’s no longer enough to simply send out press releases and hope that they reach their target audience.

Artificial Intelligence has become widely used across various sectors. Some examples include:

  1. Chatbots: these are programs that can converse with people in a natural language. They can be programmed to answer questions about products and services, provide information, make recommendations, etc.
  2. Customer service chatbots: these are similar to chatbots, except they can also handle customer complaints.
  3. Machine learning: this refers to any software program designed to improve performance by observing data patterns. This allows it to perform more complex tasks without being explicitly instructed.
  4. Recommendation engines: These programs help you find things online based on your preferences. For example, if you search for “best laptops under $1000”, Amazon might recommend specific brands.
  5. Natural Language Processing: this involves using algorithms to understand what someone means when they speak. The goal here is to create programs that can read the text and understand what it says.
  6. Speech recognition: this involves taking audio recordings and turning them into written text. This is useful for voice assistants such as Siri, Alexa, Google Assistant, and Cortana.
  7. Visual recognition: this involves recognizing objects in images. This includes facial recognition, object detection, and image classification.

Why Is Artificial Intelligence Important?

If you’re looking for a way to increase your team’s efficiency while improving the quality of your content, then you need to consider using AI technology. 

There are many benefits associated with this type of technology, including saving both time and energy.

There are many reasons you should consider using AI technology for your content creation. Some of the most important reasons include:

  1. You get instant results

Unlike humans, AI writers don’t need to spend hours figuring out what they mean when they say something. They can instantly understand what you mean by asking questions like “what does this sentence mean?” or “how would I phrase this differently?” This makes it much faster to produce high-quality content.

  1. It improves readability

AI writers can detect patterns within the text and make suggestions based on those patterns. For example, if you ask an AI writer to identify a word that frequently appears in certain types of sentences, it will automatically suggest other words that fit into these categories. This helps writers avoid common mistakes such as overusing adverbs, clichés, and long lists of items.

  1. It reduces plagiarism

One of the biggest problems faced by content creators is plagiarism. When people copy someone else’s ideas and pass them off as their own, it hurts everyone involved. But thanks to AI technology, this problem is easily avoided.

  1. It increases productivity

When you combine AI technology with modern software tools, you can create multiple documents simultaneously. This technology allows you to save time and money because you won’t need to hire additional staff members.

  1. It ensures consistency

Another benefit of AI technology is that it can help ensure consistency between your entire content. If you use AI to write about similar topics, you’ll end up creating content that looks very similar. This isn’t necessarily bad, but it can cause issues if you’re not careful. 

How Artificial Intelligence Is Being Used

To put it simply, artificial intelligence works by simulating the brain. The idea behind this is that we all have an internal world model. We use this model to predict future outcomes and decide what actions to take.

For example, if you see a dog running towards you, you know there is probably something good inside. You don’t need to ask yourself why the dog is running towards you; you just assume that it wants something good.

This same principle applies to artificial intelligence. A machine uses its experience to learn from past events and then predicts what happens next.

This is called reinforcement learning because the machine learns from positive and negative experiences.

Top 7 AI Tools For Content Writing

There are several AI writing tools out there, and they have been transforming the writing industry among writers and content managers. Here are the top seven AI tools in no particular order:

  1. Jarvis

Jarvis is an AI-powered copywriting tool that uses machine learning to write high-quality and human-like content in seconds.

Use Jarvis for marketing, product listings on eCommerce websites, or SEO articles with just a few clicks of the mouse! 

It already has many features, but the creators are working on adding more to improve the quality of articles. There are different types of essays that it can generate, including news stories, blog posts, and academic papers.

It can automatically generate the full text of the article, an excerpt of it, or even both at different lengths.

Jarvis requires users to sign up with their email address to use it. It is also free of charge, with premium features in beta testing to be released in the future.

Some of its features include:

  • Generating full articles (Blog posts, product descriptions, personal/company bio, etc.)
  • Crafting blog post title, outline, and meta description,
  • Developing content for ads (Google, Facebook, Youtube)
  • Selecting the length of a content type.
  • Setting the tone of voice for the content.
  • Commands for faster execution
  1. ShortlyAI

ShortlyAI is a new AI writing assistant that uses Open AI’s GPT-3 — one of the world’s largest neural network-powered language models–to write with you. 

You can think about it as your own personal writer or Google autocomplete for paragraphs and sentences; after a simple click, ShortlyAI generates content that passes all the common plagiarism checkers, so there are no worries about getting caught!

ShortlyAI is a tool that can help you write with your own voice. It uses the world’s largest neural network-powered language models, and it will keep generating content for as long as needed!

Its features include :

  • Writing blog posts, emails, ads, video scripts, and much more.
  • Creating and using commands for faster write-ups
  • No limits for word count
  • Free text editor
  1. AI-Writer

The AI-writer is a web app that allows you to create and edit documents from scratch. The AI-writer is powered by IBM Watson, which means that it can analyze large amounts of data and make decisions based on what it finds. This makes the AI-writer capable of creating unique content that would not be possible without this technology.

It works like any other word processor software, allowing you to create, edit, format, and save files. However, unlike traditional software, the AI-writer does not require you to learn how to use it. Instead, it learns from your actions and preferences. 

For instance, the AI-writer will adapt accordingly should you prefer to work with specific fonts, colors, and styles.

Its features include:

  • Create, edit, and format documents
  • Save and share files
  1. Writesonic

Writesonic is a powerful AI-based content creation platform that helps users create original, engaging content quickly and easily. Its AI engine analyzes user input and creates content that matches the style and tone of the user’s existing content.

It includes various tools such as a spellchecker, grammar checker, and plagiarism detector. These tools allow users to focus on writing rather than worrying about formatting or grammar errors.

Its features include the following:

  • Analyze and generate content based on user input
  • Spellchecker
  • Grammar checker
  • Plagiarism detector
  1. Frase

Frase is another AI-based content creation software that allows users to create professional content in minutes. This web application will enable you to create content from research to outline and brief generation. It goes further to write the whole content and has an inbuilt grammar checker.

The tool has a simple interface and offers a variety of features such as automatic language detection, word count, and even voice recognition.

The app is available for Windows, Mac OS X, iOS, Android, and Linux. You can use Frase.io on your desktop or mobile device.

Its features include these:

  • Paragraph generator
  • Content optimization
  • Content brief generator
  • Outline generator
  • Question and topic research feature
  1. CopyAI

CopyAI is a tool that helps writers create high-quality content. The tool analyzes the text you write and suggests improvements.

It was created by a team of researchers at Stanford University who wanted to build tools that would improve the way humans communicate. They made CopyAI to help them analyze their writing and suggest improvements.

CopyAI uses machine learning to analyze the text you write and then suggests improvements. This means the tool learns from your writing style and improves over time. You don’t need to be an expert writer, but if you want to get better at writing, this tool will help you out.

Its features include:

  • Content idea generator
  • Instagram captions creator
  • Product descriptions writing
  1. Article Forge

Article Forge is a simple yet powerful tool for creating articles, blog posts, press releases, and more. It uses machine learning to help users write better content by providing suggestions and tips.

The AI-powered tool provides users with several options for writing their content. They can select from a list of prewritten phrases, words, sentences, paragraphs, and topics.

These are some of the critical features of Article Forge:

  • Suggested topics
  • Provides prewritten phrases, words, and sentences
  • Content optimization
  • Unique content

Why You Should Be Using AI For Your Content Creation

AI-writers are a great way to automate repetitive tasks while saving valuable time. The best part? You won’t need to worry about formatting or grammar mistakes because they will all be taken care of.

However, there are several things you should keep in mind before you decide to implement AI technology. Here are three tips to help you choose the right solution for your company:

  1. Make sure the system has been tested

You want to make sure that the system you purchase has been thoroughly tested to help you know how well it works. Fortunately, many companies offer free trials to test out different systems.

  1. Be wary of black-box solutions

You shouldn’t trust any automated writing service blindly. Instead, you should look for a company that offers transparency regarding its services. This means that you should see how the system works and the data it collects.

  1. Choose a solution that fits your needs

The last step is choosing a solution that meets your specific requirements. Some companies may claim to provide a wide variety of features, but only a few work. To ensure that you get the most from your investment, it’s essential to do research first. 

When you match your needs with the right AI content writing tool, you will be amazed at how your content marketing strategy will improve. 

You would have the capacity to create more quality content for your target audience, which can translate into more conversion and growth.

Conclusion

AI for content writing is here to stay, and it is the future. The earlier we embrace it, the more productive we will be in the near future.

The logic is to look for one that will align with your needs and take it for a spin. The future of AI with content writing is here, and it is time to work smarter and not harder!

Have you used any AI software for content writing before? Share your experience with us in the comment section.

Digital Transport For Africa (DT4A) 2022 Innovation Challenge

Digital Transport For Africa (DT4A) Innovation Challenge is an exciting opportunity for initiatives. Initiatives that aim to transform transit systems in African cities by leveraging open data and innovation.

DT4A symbolizes a large, diverse network of city governments, residents, civic tech companies, universities, and international development partners.

These people are all committed to growing digital commons and applying the Principles for Digital Development to the goals of sustainable urban mobility and access.

Digital Transport For Africa aims at creating a movement for open transit data across the African continent. This will be by strengthening capacities to work with and leveraging standardized data.

DT4A will provide expertise and tools to accommodate current transport, land use, and planning data (e.g GTFS format) to the African context.

There will be gathering of facts and presenting of cases on how data can help to improve planning and implementation of sustainable mobility.

This will be of good use especially in the paratransit/informal transport sector. DT4A will cultivate innovations to promote and encourage uptake and use of open transit data.

The Digital Transport For Africa Challenge

WRI Africa and WRI Ross center in partnership with AFD (Agence Française de Développement) is pleased to announce DT4A innovation challenge.

The DT4A Innovation Challenge aims to support organizations and initiatives, from private companies to universities and NGOs.

These are entities contributing to the movement for open data across the region and improved planning & implementation of sustainable mobility. Especially in the paratransit or informal transport sector.

Four (4) successful applicants selected by WRI and a jury of experts will each receive an award of $30,000. This is to implement a new initiative over the next 12 months.

Requirements and Qualification

To apply for the DT4A innovation challenge, you must meet the following criteria;

  • Academic institutions, Organizations/NGOs, and private companies with projects/initiatives that fit into the selection criteria are eligible.
  • Applicants must have the support of local authorities (municipalities) backed with letters of support from city representatives.
  • All applicants must be Africans or working in Africa
  • Only one entry is per organization is acceptable.

Organizations, including non-profits, academic institutions, and private companies must:

  • Be a non-profit, NGO, or private company with official registration where you operate
  • Possess a total annual operating budget of over $20,000
  •  Capable of completing an Organizational Capacity Assessment. This will contain questions on internal controls, organizational leadership, audit resolution, accounting, and Technical capacity. This must be in English or French and receive a medium to low-risk rating
  • Be able to present the most recent annual audit of the organization. In case there is no audit record then, be able to tender these 3 documents:
        1. A balance sheet for the recent and previous year
        2. An income statement for the present and previous year
        3. Cash flow statement for the past and current year
  • Have at least one key project person with professional working proficiency in English or in French (oral and written). This will help in the submission narrative and financial progress report. Also, aid smooth communication with WRI staff regularly.

Application Process

Applicants have to meet the following criteria to be selected as finalists:

  • Show a strong understanding of DT4A’s objectives. Also, must clearly prove how the initiative/innovation aligns with the challenge
  • Clearly describe what the innovation is and how it will fill the gap in the community especially for vulnerable/underserved communities
  • Explain how the innovation is making use of open-source transit data, tools, and application
  • Describe the scalability of the innovation to other regions
  • Explain how the grant will be utilized within the given time frame and justify its feasibility
  • Describe the impact of the proposed initiative on sustainable urban mobility in line with SDG 11 and the 4 policy goals( Efficiency, Universal access, Green, and Safety) 
  • Present a letter of support from relevant government authorities 

Interested and qualified applicants can apply using this link.

 

Microtraction Invests In Pivo A Nigerian Fintech Startup

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Nigerian startup Pivo is a credit-focused financial services company for Small and Medium-sized Enterprises (SME) players in the chain of supply that has raised an undisclosed amount of money from Microtraction, an early-stage VC firm.

Pivo was founded last year by Nkiru Amadi-Emina and Ijeoma Jacquelyn Akwiwu. It provides new and more efficient ways to financial services for SME owners. The new startup’s flagship product, Pivo Capital allows companies to access working capital loans of up to US$50,000 to help scale their business.

Pivo also provides trade financing support, which helps suppliers to fulfill orders from customers even when they lack upfront capital, by the end of the first quarter of this year, Pivo is expected to launch its Finance product with beta. With the Finance product feature, users will be able to access corporate bank accounts that have been tailored to their businesses.

To fund its product expansion, Pivo took on some capital from Microtraction in September. Microtraction was founded in 2017, it invests in startups at the earliest stage of their development, and thus, far invested in a host of startups in Nigeria, such as Cowrywise, Wallet.ng, Schoolable, Riby, Accounteer, 54gene, Thank U Cash, Festival Coins, Termii, and also a startup from Ghana called Bit Sika, as well as Raise from Kenya. Pivo makes one of the 14 investments the firm has invested in through the course of 2021.

Microtraction was recorded to have said in a statement, “There are about 20 million SMEs in the supply chain or logistics industry and these businesses contribute about US$19.2 billion revenue generated in this sector annually”

“In the global market, Tradeshift, a supply chain financing group that has American Express and Goldman Sachs on its cap table, recently exceeded the US$1 trillion transaction value mark, doubling in only two years. We expect Pivo to replicate this success in the coming years as it builds out its multi-product strategy”.

At the time of investment, Pivo had on board, 100 active customers and had processed more than US$100,000 in loan applications. Ever since, these numbers have doubled up, with 70% of the loan that was disbursed going to logistics sub-contractors.

Technovation Girls Competition 2022 for Global Problem Solvers

Technovation annual invites for teams of young girls around the globe is here again with a new dimension. Technovation is introducing a new beginner division open to ages 8-12 and a new technology option.

These teams of girls are going to learn and put in skills required to solve a real-life problem through the use of technology.

The Beginner Division of Technovation 

This is a new division for younger students and it will be open to girls of ages 8-12. The new division structure will be:

  • The Beginner Division: ages 8-12
  • Junior Division: ages 13-15
  • and Senior Division: ages 16-18

The new Technology Option

The girls now have a choice of selection for their submission project. The girls will still be learning to create technology to solve community problems but from this edition, they have a choice to select between either developing an AI-powered prototype or a mobile application prototype as their submission project.

Requirements

Any girl or woman between the ages of 8-18 years of age is eligible to participate. Transgender people and those who identify as non-binary or gender nonconforming and want to be a part of a female-identified space are welcome.

To join the competition, a girl must join or form a team on technovation online platform. The girl’s guardian /parent must sign the consent form and meet the listed Student Participation Criteria:

  • All students must be of age 8-18 years of age.
  • Students must identify as female, trans, nonbinary, or gender nonconforming. Students who self-identify as male or assigned male at birth can not enter the competition.
  • Teams are to be between 1-5 students. Students are eligible to join 1 team. Though, there isn’t any number limit on mentors per team.
  • The competition divisions are going to be based on the age of the eldest on the team. This means if a 13 years old is in a team of 12 years old, the team will be judged in the Junior division. 
  • Students can participate in Technovation Girls for more than one season until the age of 18. You are allowed to work with the same team members and mentors but with a different submission material. Also, the team can explore the same problem but the app prototype must differ each year.

Timeline for this year Technovation 2022 Season

Registration opens: Dec 2021

Official Season Launch: Jan 10, 2022. It is recommended to start in Jan at least so that there will be a whole 12 weeks to work on the project. Submission opens today.

Registration Deadline: For students and mentors is March 25, 2022, at 23:59 UTC. This is the last day to formally register a team.

Submission Deadline: April 26, 2022, at 23:59 UTC

World Summit: August 2022.

Please Note: curriculum for junior and senior division is available all year-round. So, students can start working on their projects early and even register in December.

To register, kindly use this link.