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[Press Release] Paylend, a Kenyan FinTech Company Raises $2M Seed Investment from Next Chymia Consulting HK Limited

Mena Adediran
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[Press Release] Paylend, a Kenyan FinTech Company Raises $2M Seed Investment from Next Chymia Consulting HK Limited

Paylend, a Kenyan FinTech startup focused on providing access to finance and digitizing MSMEs in Kenya have today announced that it has raised $2 million dollars seed investment from Next Chymia Consulting HK Limited, an Asian based company that provides blockchain applications, consultancy services and training to global entities.

Founded in September 2019, Paylend has digitized over 10,000 SMEs and growing with its users enjoying an array of services including access to credit for products and services and crowdfunding tools.

Paylend’s mission is to support MSMEs across Africa solve the problem of access to continuous capital while bridging the consumer data gap by connecting consumers to products and services. Paylend’s model enables last mile consumer data collection that allows for a thorough understanding of consumer needs as it creates value for the SMEs ecosystem.

“I believe in impact driven solutions. For a very long time, MSMEs have experienced stunted growth due to lack of efficient business tools or lack of funds. With Paylend, we are able to turn this around by helping these businesses access affordable credit quicker thus allowing them to have liquidity thus ensuring business continuity. Additionally, we form alliances with strategic partners with similar goals to present business tools that ease operations of these MSMEs,” said Eliutherius Juma, CEO, Paylend.

29% of formal SMEs in Africa have access to loans, line of credit or overdraft. The numbers are significantly lower in the informal MSME sector that accounts to over 60% of businesses in the region.

“The value of the credit gap alone in sub-saharan Africa is at $90 billion that requires an increase of over 350% service to close the gap. To tackle these challenges, Africa needs transformational interventions. The formal banking landscape in Sub-Saharan Africa supports around 20% of Africa’s bankable population with the majority of people excluded from access to finance and wealth creation, this is a massive opportunity for FinTechs like Paylend.” Further stated Juma.

This investment will help Paylend grow its operation in the Kenyan market and open new markets in Tanzania, Zambia and Nigeria as part of its next 3 years growth plan.

Paylend is an Adanian Labs startup, a Pan African smart technologies venture studio with a mission to build, nurture and scale 300 impact driven tech startups across Africa.

“We are elated to see the progress that Paylend is making and how it is impacting MSMEs, which is one of the most off grid sectors when it comes to digital transformation and financial inclusion.  At Adanian Labs our mission is to nurture innovative solutions and support innovators like Juma with the necessary resources including tech development, technical capacity, go to market strategies, team mentorship and training as well as access to partnerships and resources. We are confident that this investment will see Paylend transform MSMEs in Kenya and beyond. Adanian Labs will continue to work with Paylend and support its roll out across Africa.” said Bendon Murgor, CTO, Adanian Labs.

Kenji Sasaki, the CEO of Next Chymia Consulting HK Limited said of the partnership “We are absolutely delighted to partner and support Paylend. Our vision is to ensure that no one is left behind in Africa when it comes to access to technology that can potentially facilitate wealth creation. We believe in the power of technology in transforming communities, and Paylend’s model is doing that at a micro level, which is where a lot of work is needed if we are to drive digitization. We have seen first-hand the potential that the informal sector in Africa has in solving key society issues and we are excited to be able to support and create impact.”

Paylend app, can be accessed on android playstore, for both consumers and MSME’s, with innovative features on access to credit for businesses, crowdfunding tools, and prepayment of goods and services for consumers. 

Distributed by APO Group on behalf of Paylend.

About Paylend:

Paylend is a Fintech company that empowers MSMEs in Africa with digital record keeping and business management tools, solving growth challenges faced by small businesses in Africa.

Paylend’s innovation is helping small businesses digitize the “black book” used to lend to customers that has been managed offline with limited value to MSME’s, bringing visibility of end consumer data and access to credit for the entire ecosystem.

The company is operational in Kenya, with plans to scale into 3 new markets including Tanzania, Zambia and Nigeria.

This press release was first published on African.business: https://african.business/2021/12/apo-newsfeed/paylend-a-kenyan-fintech-company-raises-2-million-seed-investment-from-next-chymia-consulting-hk-limited/

Africa Blockchain Incubation Program 2022

Hassan Barakat
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Africa Blockchain Incubation Program 2022

Application Deadline

January 31, 2022

About The Incubator Program

This is a structured Incubator Program aimed at fostering African Blockchain Startups in order to ignite creativity and ideas implementation around Distributed Ledger Technologies, which are underrepresented in Egypt’s and Zimbabwe’s local innovation and entrepreneurship landscapes.

Qualified candidates will be nurtured over the course of a structured four-month program that includes workshops, training, development, mentor sessions, and community events, as well as interactions with investors and prominent Blockchain experts.

Admission Criteria

We’re searching for forward-thinking, imaginative people that are eager to take on new challenges in order to create the next Big Thing. These people must be dedicated to the project, hardworking, and have strong backgrounds in computer science (knowledge of languages like C++, Javascript, Python, and Solidity is a plus), mathematics, statistics, business/entrepreneurship, economics, cryptography, blockchain, and other related fields.

Specifically:

  •  Must be citizen of Egypt or Zimbabwe.
  •  Female Applications are given priority.
  •  Between 20 – 35 years of age.
  •  Have strong business case and market potential.
  •  Idea stage and early-stage (1 year) companies are advised to apply.

The Incubator Stream Features

The Blockchain Incubator Stream provides new founders with a comprehensive range of services to help them begin and expand their businesses.

Platform Support; Leading blockchain platform vendors give product development support.

Access to Economists; Advice from world-class economists on marketplace and incentive design.

Business Support; The African Leadership University’s top-ranked experts can help you develop your business.

Business Guidance and Investor Access; Meetings with a group of highly successful entrepreneurs and investors with expertise in scaling high-tech firms.

Demo Day; The program culminates with a Demo Day, which allows startups to propose their ideas to investors, professionals, and the Blockchain community.

The Incubation Program Combines

  • Blockchain Technology

Provides a broad overview of blockchain technology as well as industrial ties.

  • Business Education

Provides business expertise, industry connections, and investor introductions.

Duration & Format

  • March – June 2022
  • Hybrid: Virtual & Physical

Got Questions?

Please send an email to: info@africablockchain.institute.

To read more and apply, visit the official website of Africa Blockchain Incubation Program 2022.

World Mobile Token Set to be Listed on Three Crypto Exchanges

Abidemi Ogunyemi-Aderibigbe
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World Mobile Token Set to be Listed on Three Crypto Exchanges
World Mobile Token (WMT), a token that enables a global mobile network on a sharing economy is set to be on the list of 3 leading crypto exchanges.

The Crypto Exchange platforms for World Mobile Token

WMT will be on the list of one of the world-leading asset platforms that have the Cardano native support, Bitrue. Also, it will be on the list of the global digital asset trading platform, BitMart which provides real-time trading services.
 
Lastly, WMT will be on MEXC Global, an exchange platform known for high performance, matching technology, and mega transaction with a large customer base in the APAC region.
 
With these listings, holders of WMT have instant liquidity by buying the token during the token generation event. On the other hand, WMT will be trading all over jurisdictions across the globe.

World Mobile Token’s Mission

Like the World Mobile Network’s mission of acquiring sustainable connections to Africa with the World Mobile sharing economy.
 
According to Adam O’Neill, the Chief Marketing Officer of Bitrue, most traditional business models ignores the ability to improve the quality of life.
 
Meanwhile, these abilities of radical life improvement are one of the most interesting parts of Cryptocurrencies. He said;
 
“We see millions of unbanked people who live in developed nations that are now able to control their finances again with the use of cryptocurrency”
“we’re glad to be a part of and support a project like World Mobile Token who is making a verifiable difference to billions of unconnected persons around the world.”
 
The spokesman for WMT, Zachary Vann said it is exciting working with BitMart whose core values align with World Mobile’s vision. Their real-time trading services serve about 180 countries and over 9 million customers.
 
“BitMart is in support for World Mobile from the early stage and has been supportive of its goal and mission of connecting the unconnected”.
 
MEXC Global after being recently awarded at the 2021 Dubai Crypto Expo as the best exchange in Asia. Zachary said;
 
“We look forward to offering WMT to the MEXC global community making the token available to their 6 million users”
 
Working with MEXC Global to support WMT and seeing the passion shown towards the mission of World Mobile has been a pleasure, said Mr. Zachary Vann.

The Goal of WMT 

World Mobile Token is the utility token at the heart of the sharing economy. In other words, it will power the network and drive mass adoption of the sharing economy.
This will create explosive growth of the World Mobile Network.
 
Mr. Vann said;
 
“World Mobile Token is starting its exciting journey of being listed on many CEXs and DEXs, allowing people from across the globe the opportunity to get World Mobile Token via various means and live up to the name of World Mobile Token”
 
In conclusion, the listings will allow people from around the world to buy, sell, and trade WMT. The listings will become effective on Thur December 23 on Bitrue & MEXC and Friday, December 24 on BitMart.

Nigerian Mobility-tech MAX Lands $31m Series B Funding

Mena Adediran
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Nigerian Mobility-tech MAX Lands $31m Series B Funding

Nigerian mobility tech startup MAX (Metro Africa Xpress) has plans to break into new markets across Africa after raising $31million in a Series B round. The funding will be used to enter into the Ghana and Egypt markets at the end of the first quarter of 2022. The startup will also enter more markets such as Francophone, East and Southern Africa by the end of 2022.

MAX was founded in 2015 (by Adetayo Bamiduro and Chinedu Azodoh) as a delivery startup, completing customer orders using motorcycles; then it started its ride-hailing service and later ventured into automobile subscription with financing services.

MAX took another giant leap forward by introducing vehicle financing services in 2018. The startup’s bank-partners grant vehicle purchase loans to drivers using a credit risk assessment. “It became clear that the fundamental issue that drivers face is consistent access to vehicles. And that is when we realized that if we are to be successful at solving the challenge of mobility across the continent, we have to first address the issue of vehicle access,” said the CFO, Guy-Bertrand Njoya.

MAX plans to build electric automobile infrastructure in the new markets its entering, in a bid to introduce electric vehicles to its growing customer base. As of now, the mobility company designs and assembles its own line of electronic motorcycles; kick-starting this in 2019.

The funding round was led by Lightrock and Global Ventures; and saw other participants including Novastar Ventures and Proparco.

According to Njoya, MAX aims to be the “go-to” platform for vehicle subscription and financial services for millions in Africa. MAX recently partnered with ride-hailing company Bolt to provide lease-to-own options to 10,000 drivers in Nigeria who want to acquire energy-efficient vehicles.

The GWNF Women in Tech Seminar

Abidemi Ogunyemi-Aderibigbe
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The GWNF Women in Tech Seminar

GWNF (Global Women Network Foundation) presents its women in tech seminar 2022 edition. 

The Women in Tech seminar is a designed chart of a future path for women in the ICT sector. The seminar will enlighten participants how to go about unemployment and entrepreneurship taking advantage of free tech skills training available.

About GWNF (Global Women Network Foundation)

The Global Women Network Foundation (GWNF) is a non-governmental organization registered in the UK and Nigeria. Similarly, it is established to mentor and train young women in Africa, especially in Nigeria.

The mission is to create a global network of business women and organizations that will empower women with life-changing information, marketable skills, and the confidence required to succeed in life.

The core objective of the NGO is to create opportunities for African women, helping to realize their full potential of becoming financially independent.

Details of the Seminar

Date: Thu, 24 March 2022

Time: 11:00am – 15:00pm WAT

Location: Hawthorn Suites by Wyndham, No. 1 Uke Street, Garki II, Federal Capital Territory Abuja.

Please Note: This event is strictly for women ages 18- 35 years old.

About the GWNF Women in Tech Seminar

 Business and professional women from various sectors who want to give back to their communities were the ones who created the Global Women Network.

The women in tech seminar will consist of mentoring sessions through which members share their knowledge, time,resources & experience. 

Also, the program will be providing training session, business support in terms of funds and advice for participants.

After successfully completing the training, the foundation will help to secure befitting roles successful participants. In terms of business enterprise, there will support (funds and advice) provided through implementation for participants.

As part of the Global Women Network Foundation’s on-going efforts to encourage entrepreneurship and economic growth, the GWNF welcomes you to participate in this seminar.

Kindly click Here to register.

Built With Bitcoin Foundation Partners Satoshibles Non -fungible Token (NFT)

Hassan Barakat
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Built With Bitcoin Foundation Partners Satoshibles Non -fungible Token (NFT)

The Built With Bitcoin Foundation has announced a partnership with the team behind Satoshibles Non -fungible Token (NFT), a successful crypto collectable project on the Ethereum blockchain.

The Built With Bitcoin Foundation (BWB) is a humanitarian organization dedicated to ensuring equal opportunity by providing clean water, quality education, sustainable farming, and humanitarian assistance, all of which are supported by bitcoins.

Built With NFT is an NFT collection created by BWB and Satoshibles that will donate hundreds of ETH to humanitarian activities.

Students from BWB campuses around Africa, notably the Nursery and Primary schools in Rwanda, Kenya, and Nigeria, contributed artwork to the NFT collection.

From this artwork, 10,000 unique NFTs will be up for purchase.

The Foundation’s ongoing efforts to create schools and communities around the world will be funded entirely by the earnings, with their next projects beginning in West Africa and Central America in 2022.

This launch is timed to coincide with #GivingTuesday, a day dedicated to encouraging others to donate to charity organizations and causes.

The Built With Bitcoin Foundation has so far constructed six schools (two in Rwanda, two in Kenya, and two in Nigeria), ten water projects, and dozens of farms. By 2030, the Foundation hopes to have built 100 schools and communities.

While this campaign is still in its early stages, Satoshibles has already donated 10 ETH to BWB to help them start Phase I of their project, which includes installing a water well, solar system, computer lab, laptops, landscaping, and fencing at the site of two existing nursery and primary schools in Kaduna State, Nigeria, which serve a community of over 2,000 people.

The project is already in the works, with BWB aiming to finish by the end of December 2021.

“We think that with access to education, water, and finance, individuals can build the life they want,” stated Ray Youssef, Executive Director of Built With Bitcoin.

“Over the years, we’ve had the honour of delivering critical resources to tens of thousands of people all over the world, not just by building schools, but also by forming strong and long-lasting communities.”

“We intend to create a passion for giving back while redefining how the world views crypto by launching the Built With NFT line with Satoshibles on Giving Tuesday.” He further said.

“These students have made it possible to create a large amount of funds while improving the lives of communities all around the world,” Built With Bitcoin’s Director of Philanthropy, Yusuf Nessary, stated.

“Through this project, these young kids have the power to contribute to the education of other pupils like themselves,” Yusuf explained.

“We believe this emphasizes the critical nature of humanitarian activities.” Serving one community has a cascading effect that provides the community with resources.

“This is the first initiative to harness NFTs for social good at this scale,” Satoshibles creator Brian Laughlan stated. We’ve created a one-of-a-kind collection with a captivating story using the Built With Bitcoin Foundation’s community and our expertise in launching NFT initiatives.”

“With this launch, we intend to kickstart new initiatives and demonstrate how NFTs can be utilised to promote change.”

Aladdin Rebrands to Become Africa’s First Super app Serving the SMB Economy

Abidemi Ogunyemi-Aderibigbe
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Aladdin Rebrands to Become Africa’s First Super app Serving the SMB Economy
Aladdin is a fintech startup providing ecosystem banking to over 40,000 users today announced it is changing its brand identity.
 
Aladdin stands as Africa’s top ecosystem bank that supports SMEs, individuals, and freelancers with the financial, commercial, and social aid they need to thrive.
 

The Rebranding of Aladdin

For the past few months now, the rebuilding of the Aladdin application has been ongoing. The company is looking to offer a new banking experience in line with its evolved vision and customers feedback.
 
Going by a report from the fintech company, the changes are to present the company’s evolving vision better to users. The vision is to become the first super app in Africa serving SMEs and freelancers.
 
Part of the rebrand includes a release of a brand new design and logo that incorporates its core values of transparency, innovation, and resilience.
 
The previously existing brand colors “purple and orange” are still retained for all the company’s branding and marketing purposes.
 
In a couple of days, users are to expect the rollout of the rebuilt and rebranded Aladdin app will take effect.
The application will have new features such as a marketplace, an in-app social network, an escrow payment option, and lots more to serve its users.
 
The Co-founder and CEO of Aladdin, Darlington Onyeagoro said;
 
“Our vision is to empower millions of SMB owners & freelancers with necessary commercial, financial, and social tools to thrive beginning in Africa”
 
In addition, he said
 
“After Africa, the company looks to expand to other developing countries across the globe”.
 
On Aladdin, users will be able to save, borrow, invest, make payments, get insured, get cards, buy and sell products & services and also mingle with other users.

 

 

TE Markets Launches Its Cryptocurrency and Africa’s First Consolidated Exchange Platform

Hassan Barakat
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TE Markets Launches Its Cryptocurrency and Africa’s First Consolidated Exchange Platform

TE Markets, an investment firm, has developed the first digital exchange allowing African local producers to sell their products, set a competitive price, and earn direct benefits for their efforts.

The platform is called African Consolidated Exchange, and it’s for actors in the financial markets and Africa’s digital finance ecosystem, according to the company (ACEX).

ACEX would act as a digitalized general store for all forex dealers, crypto traders, stakeholders, and investors in the financial industry on the African continent and beyond, according to the company.

According to the corporation, ACEX will be a pan-African and multi-asset trading platform that will allow consumers to buy and sell equities, ETFs, Bonds, Forex CFDs, Cryptocurrencies, and Commodities, among other things.

“ACEX will be a lively exchange with Liquidity Providers, Merchants, Traders, and Investors alike, as a market that never sleeps.”

“On the African continent, there is no one exchange where natural minerals and agricultural products native to the continent are traded.”

“ACEX will be the first exchange where African native producers may advertise their goods, set a competitive price, and receive direct compensation for their efforts.” TE Markets stated that “African items like cobalt, cocoa, and lumber will be synthetically indexed and supplied as quotes for traders to take advantage of.”

While recognizing that processes throughout the world have been digitized, TE Markets believes Africa, with its vast territory, vibrant young population, and enormous economic potential, must enter the fray.

It went on to say that ACEX would bridge the digital divide between what is and what should be in the financial markets, particularly on the African continent.

Invictus Capital Unveils First NFT Collection

Hassan Barakat
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0
Invictus Capital Unveils First NFT Collection

Invictus Capital through the Invictus NFT Lab, has released its first non-fungible token collection, named “Out of Africa.” Invictus Capital will use blockchain technology to display fine art and link African artists with the rest of the world through this collection.

Invictus and NFT Collection

According to the It Online report, the distribution of NFT posters is anticipated to commence in January as part of this effort. An auction for NFT representations of the original, physical artworks will take place in February.

Stakeholders in the art world have praised Invictus Capital’s move to release the NFTs. Marelize van Zyl, the curator of the Out of Africa NFT collection, praised Invictus Capital’s efforts, saying, “The Out of Africa Collection is made up of 100 unique NFTs on the Ethereum blockchain and is the first time many of the artists have worked in the NFT arena.” This collection is a victory for these artists, as it features some of the best new, emerging, and established talent available.

NFTs allow artists direct access to “a genuinely global audience and a royalty-driven business model made feasible by blockchain,” according to another stakeholder, Charl Bezuidenhout of Worldart.

Invictus Capital CEO Daniel Schwartzkopff said an NFT collection like the one his business revealed, “would go a long way toward introducing NFTs into mainstream investing portfolios.” Traditional art collectors, current NFT collectors, and everyone in between will enjoy the collection, according to Schwartzkopff.

Prospective investors who wish to be a part of this project can receive information on collaborating artists and artworks via a subscription newsletter, according to the report.

TECNO Security Response Center’s Commitment to the InfoSec Community

Abidemi Ogunyemi-Aderibigbe
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TECNO Security Response Center’s Commitment to the InfoSec Community
The Security Bsides 2021 Ahmedabad, India sponsored by TECNO Security Response Center (SRC) shows its commitment to digital information security.
 
With over 400 security experts and specialists in attendance exchanging ideas with TECNO and other industry experts, organizations, and researchers.
 
The sponsorship enhanced the playing field, delivery of the latest research and knowledge. This was beneficial to amateurs and professionals who can not travel to or get access to such prominent conferences.
 
This contribution by TECNO’s shows how committed to securing its own devices, software, and the broader I.T security society.
 
Conference Discussion on Spyware, Android Vulnerabilities and More
Security BSides founded in 2009 is a community-driven framework for making events for and by information security community members.
 
BSides events are usually intense, filled with participants’ discussions interactions, and demos. Manage and engaged by the community itself, these conferences are where conversations for the next big thing happen.
 
Heath Adams, the Cyber Mentor (TCM) opened the program with a keynote address on information security, ethical hacking, and cybersecurity. He also pointed security issues of concern to both individuals and organizations.
 
The conference talks about the latest updates and research on Google Vehicle Routing Problems (VRP), mobile spyware, android vulnerabilities, Amazon misconfiguration, and more.
 
A full-day car hacking workshop was a part of the program and the idea was to reveal how a vehicle can be remotely maneuvered and used for system penetration with an entire array of tools at the hacker’s disposal.
 

SRC Improves TECNO Technologies and InfoSec Community

SRC backs TECNO on its mission to unlock the latest intelligent technologies across global emerging markets. Giving it access to the digital world available and affordable while being ethical and clean.
 
Following up on its promise to support the community, TECNO SRC has disbursed monetary and mobile phone rewards for detecting and submitting vulnerabilities on its system. This adds to the bag of bug bounties and penetration test rewards for ethical hackers.
 
Security is critical in the l.T world. As the rise in global usage of digital devices and services grows, cyber security gains more importance. Thus, the need to protect individual network devices and digital assets is of utmost importance.
 
TECNO SRC aims at building the potentials of the I.T security researcher’s community, and plans for the future. This includes cooperation with the international vulnerability public testing platforms to grow a robust TECNO security ecosystem. This will look to offer secure mobile experiences to users in more than 70 emerging markets that users can trust.
 
Going by the values of TECNO, TECNO SRC is the trademark of a company that cares about the needs of its users from different markets. They also understand the technical and cultural implications of I.T security for society.
 
TECNO SRC is taking its place as a significant contributor to the I.T security world with its continuing education and advancement on information technology, security, privacy, and critical infosec issues.

 

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