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By Aduragbemi Omiyale
A total of 60 startups established by entrepreneurs of African origin have been selected by a tech giant, Google, for the second cohort of Google for Startups Black Founders Fund (BFF) for Africa.
The beneficiaries will have the opportunity to have a share of the $4 million in funding support to assist their companies to expand their operations to other regions.
A digital pensions platform from Nigeria, Awabah, is among the startups chosen by Google for the programme and will join others to undergo a 6-month training programme that includes access to a network of mentors to assist in tackling challenges that are unique to them.
The 60 startups from Botswana, Cameroon, Ethiopia, Ghana, Kenya, Nigeria, Rwanda, Senegal, South Africa and Uganda will also be part of tailored workshops, support networks and community-building sessions.
According to Google, the 60 grantees, made up of 50 per cent women-led businesses, will also receive non-dilutive awards of between $50,000 and $100,000 and up to $200,000 in Google Cloud credit.
The beneficiaries were taken from various sectors such as fintech, healthcare, e-commerce, logistics, agtech, education, hospitality and smart cities.
Business Post gathered 23 startups were picked from Nigeria, 12 from Kenya, six from Rwanda, five from South Africa, four from Uganda, three each from Cameroon and Ghana, two from Ethiopia and one each from Botswana and Senegal.
The Google for Startups scheme was launched in April 2012 and has created over 4,600 jobs and raised more than $290 million in funding.
The Google for Startups Black Founders Fund programme will introduce the grantees in Africa to Google’s products, connections, and best practices which will help the founders to level the playing field as they build better products and services that add value to the African economy.
The Head of Startup Ecosystem, SSA for Google, Folarin Aiyegbusi, while commenting on the initiative, stated that, “Africa is a diverse continent with massive opportunity but the continent is faced with the challenge of limited diversity in venture capital funding flow.
“We hope that the Black Founders Fund program will be able to bridge the gap of disproportionate funding between ex-pat startups over local and black-led companies.”
Funding for the Google for Startup Black Founders Fund will be distributed through Google’s implementation partner, CcHUB.
“The equity-free cash assistance to startups will enable them to take care of immediate needs such as paying staff, funding inventory, and maintaining software licences. This is to help the grantees buffer the cost of taking on debt in the early stages of their business as many of them do not have steady revenue streams yet,” Aiyegbusi disclosed.
“Programs like the Black Founders Fund enhance the African ecosystem – where we currently have gaps in funding and infrastructure. Google getting involved and throwing its might behind thriving entrepreneurs in Africa is a beautiful thing, and I am very happy that Google has continued the Black Founders Fund in Africa initiative in 2022,” the CEO of MyMedicines and alumni of the 2021 BFF program, Abimbola Adebakin said.
Below is the list of the 60 startups selected for the programme:
S/N
Name
Country
About
1.
Agrikool
South Africa
Agrikool is an agritech platform that connects farming producers and buyers to a fair and reliable market.
2.
Ajua
Kenya
Ajua is an end-to-end operating system for SMEs to build a credible online presence, get feedback on their businesses and manage the relationship with their customers
3.
Awabah
Nigeria
Awabah is a digital pensions platform for Africa’s workforce
4.
BAG Innovation
Rwanda
BAG Innovation is a virtual and gamified platform that offers real-time access to experiential learning for university students and recent graduates
5.
Bailport
Rwanda
Baliport is a cross-border, multi-currency payment platform focused on enabling intra-Africa & Africa outbound money transfers through blockchain.
6.
Bee
Cameroon
Bee finances motorcycles to drivers while also providing training and access to jobs.
7.
Bookings Africa
Nigeria
Bookings Africa enables Africa’s gig workforce to digitise and monetize their skills by connecting clients efficiently and transparently to skilled talent across Africa.
8.
Brastorne
Botswana
Brastorne connects the unconnected in Africa, enabling rural villages to have access to the digital world without smartphones or data.
9.
Built
Ghana
Built enables access to business and financial tools for Sub-Saharan African small and medium-sized businesses (SMBs).
10.
BuuPass
Kenya
BuuPass is a travel startup – building digital rails for Africa’s intercity transport industry and supporting bus, train & flight transportation
11.
Cauri Money
Senegal
Cauri Money is a cashless remittance platform helping African migrants move money from around the world into mobile wallets in Africa.
12.
Clafiya
Nigeria
Clafiya connects individuals, families, and businesses to health practitioners – enabling access to convenient, quality, and affordable, on-demand primary care from their mobile phones
13.
ClinicPesa
Uganda
ClinicPesa provides an easy-to-use platform where low-income users can set aside funds as low as $0.30 daily dedicated towards healthcare and get access to healthcare loans
14.
COVA
Cameroon
COVA is a digital insurance platform that enables partner businesses to easily and seamlessly deliver insurance products to their users
15.
CreditAIs
South Africa
CreditAIs provides credit scoring tools for micro-businesses and individuals that do not fit the existing traditional credit scoring models
16.
DohYangu
Kenya
DohYangu enables end consumers in Africa to shop FMCG products & get cashback rewards at various retail stores, saving up to 25%
17.
Easy Matatu
Uganda
Easy Matatu provides a mobile platform that allows commuters to book and pay for scheduled rides on vetted and inspected minibuses
18.
Eden Life
Nigeria
Eden Life provides an operating system for receiving and rendering essential services in Africa – focused on offering food, cleaning, laundry, and beauty services to their customers.
19.
Estate Intel
Nigeria
Estate Intel provides reliable data to businesses that are investing or operating in the African real estate space.
20.
Eversend
Uganda
Eversend is a neobank, providing critical financial products in Sub-Saharan Africa – including cross-border financial services.
21.
Exuus
Rwanda
Exuus empowers informal saving groups with a digital ledger, digital wallet, decentralised social credit score, and instant micro-loans to both groups and individuals.
22.
Flex Finance
Nigeria
Flex Finance helps businesses in Africa to manage approval workflow, access credit, issue corporate cards to employees and make disbursements all from one platform.
23.
FlexPay
Kenya
FlexPay is a merchant-embedded digital savings platform that rewards customers for saving up for purchases – a save now buy later (SNBL) solution at checkout.
24.
Gamr
Nigeria
Gamr is an eSports tournament aggregation platform, helping African gamers discover tournaments they can play in and get rewarded for.
25.
Garri Logistics
Ethiopia
Garri Logistics matches shippers looking to move cargo with vehicle owners and drivers, while finding optimal route pairings to reduce empty miles.
26.
Haul 247
Nigeria
Haul247 is a logistics platform that connects manufacturing companies and farmers with trucks and warehouses.
27.
Healthlane
Cameroon
Healthlane provides advanced comprehensive health screening and personalised plans, biometric monitoring, genetic analysis as well as in-person and virtual visits with top-rated doctors .
28.
Healthtracka
Nigeria
Healthtracka is a platform that allows users access on-demand healthcare services in the comfort of their homes.
29..
HerVest
Nigeria
HerVest offers a highly secured, women-focused financial platform that enables women to participate in key financial services, with a focus on female farmers.
30.
Kapsule
Rwanda
Kapsule is a data as a service company that helps healthcare providers, insurers, and pharmaceutical companies to make better decisions
31.
Keep IT Cool
Kenya
Keep IT Cool is an early-stage, fast-growing social enterprise that leverages technology to strengthen the African aquaculture and poultry value chain through cold chain and storage
32.
KUDIGO
Ghana
KUDIGO offers an omni-channel digital commerce platform to empower micro and small businesses in Africa
33.
Kyshi
Nigeria
Kyshi provides multi-currency accounts and remittance services to and from Africa
34.
Leja
Kenya
Leja is an Android/USSD application enabling African micro-entrepreneurs to digitise all their business transactions and manage all their finance in one place
35.
LifeBank
Nigeria
LifeBank leverages technology to provide value in multiple segments (production, marketplace and distribution) of the healthcare supply chain such as blood, oxygen and medical supplies
36.
Mapha
South Africa
Mapha provides delivery as a service to businesses in peri-urban & township areas
37.
Norebase
Nigeria
Norebase provides a single digital platform and technology tools for entrepreneurs and businesses to start, scale, and operate in any African country and the United States.
38.
OneHealth
Nigeria
OneHealth is an online pharmacy & healthcare platform that provides access to medicines, healthcare information, and solutions (Laboratory services & Doctors) to the last mile patient.
39.
PesaChoice
Rwanda
PesaChoice bridges the gap in liquidity for low-middle income earners across the continent and drives access to financial services.
40.
Pindo
Rwanda
Pindo is a cloud communication platform for businesses, optimised for developers.
41.
Pivo
Nigeria
Pivo is a credit focused digital bank for trade, supporting businesses across Africa
42.
QShop
Nigeria
QShop is an easy to use DIY e-commerce platform designed to help small and medium-sized businesses scale and sell better online.
43.
Rekisa
South Africa
Rekisa helps businesses create their e-commerce websites and assists them with various digital marketing activities
44.
Scrapays Inc
Nigeria
Scrapays is creating operating system infrastructure for the recycling value chain in developing nations.
45.
Shiip
Nigeria
Shiip leverages web, mobile and API technology to connect individuals & businesses to delivery services in and out of Africa
46.
Solutech (Kenya):
Kenya
Solutech helps field-sales teams to sell more efficiently by leveraging powerful insights while providing FMCG companies with real-time data for day-to-day and strategic decision-making.
47.
Spleet
Nigeria
Spleet leverages a ‘Rent Now, Pay Later’ model to drive its mission to ensure that every African can afford a space to live in.
48.
Stears
Nigeria
Stears is a financial intelligence company providing subscription-based content & data to global professionals. Its mission is to build the world’s most trusted provider of African data.
49.
Synnefa
Kenya
Synnefa is building Africa’s first mini-farm ERP connected to IoT sensors that provide soil data which is combined with farmer activity data to create a farmer experience score that is passed on to financial partners to use on their credit score.
50.
Technovera
South Africa
Technovera is an innovative tech startup focused on technology inclusion through the development of simple technologies aimed at improving last mile access in Africa.
51.
TERAWORK
Nigeria
TERAWORK is an online freelance marketplace focused on matching freelancers to service buyers.
52.
TIBU Health
Kenya
TIBU Health is an omnichannel healthtech company connecting patients to healthcare services and professionals at a time and location of their choosing.
53.
Topset Education
Nigeria
Topset Education is an edtech platform that makes quality education accessible to Africans everywhere.
54.
TopUp Mama
Kenya
TopUp Mama enables restaurants in Africa to purchase food supplies, access financial services and manage their business.
55.
Wellahealth
Nigeria
Wellahealth provides technology and financial tools to healthcare providers and patients to enable affordability and accessibility of healthcare in emerging markets.
56.
Xente
Uganda
Xente is a digital financial platform with in-built spend management to support businesses across Africa
57.
Zanifu
Kenya
Zanifu enable SMEs to purchase inventory and pay later
58.
ZayRide
Ethiopia
ZayRide is a customer centric on-demand taxi service offering fast, convenient service throughout local areas in Ethiopia
59.
Zuberi
Ghana
Zuberi is a fintech platform based out of Accra, built to provide financial products and services to salaried workers in a way they have never experienced before
60.
Zuri Health
Kenya
Zuri Health provides affordable and accessible healthcare services to patients across Sub-Saharan Africa via mobile app, website, Whatsapp chatbot and SMS service.
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Aduragbemi Omiyale is a journalist with Business Post Nigeria, who has passion for news writing. In her leisure time, she loves to read.
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By Adedapo Adesanya
The NASD Over-the-counter (OTC) Securities Exchange recorded a 0.01 per cent fall on Friday, September 23, as it dropped for the fourth straight day. This further dampened investors’ confidence.
In the session, the bourse, which admits unlisted securities, recorded the decline following a loss recorded by Food Concepts Plc as the company saw its equity value drop 1 Kobo or 1.1 per cent to sell at 90 Kobo per unit versus the previous day’s 91 Kobo per unit.
As a result, the market capitalisation of the NASD OTC exchange went south by N60 million to close at N952.51 billion compared with Thursday’s N952.57 billion.
Also, the NASD Unlisted Securities Index (NSI) dropped 0.05 points to finish at 723.56 points, in contrast to the preceding session’s 723.61 points.
Friday’s market data revealed that there was a slump in the units of securities exchanged by investors by 4.4 per cent to 60,420 units from the 63,219 units traded a day earlier.
The value of securities traded amounted to N57,125.00, 99.3 per cent lower than the N8.4 million achieved a day earlier, while the number of deals carried out during the session went down by 28.57 per cent to five deals from the seven deals carried out on Thursday.
AG Mortgage Bank Plc finished the session as the most traded stock by volume on a year-to-date basis with the sale of 2.3 billion units worth N1.2 billion, Central Securities Clearing Systems (CSCS) Plc also retained the second spot with the sale of 687.6 million units valued at N14.3 billion, while Mixta Real Estate Plc was in third place for trading 178.1 million units valued at N313.4 million.
Also, CSCS Plc maintained its position as the most active stock by value on a year-to-date basis with a turnover of 687.6 million units valued at N14.3 billion, VFD Group Plc was in second place with 27.7 million units worth N7.4 billion, while FrieslandCampina WAMCO Nigeria Plc retained the third place with the sale of 14.3 million units valued at N1.7 billion.
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By Adedapo Adesanya
The exchange rate of the Naira to the United States Dollar moved in different directions on Friday, depreciating in the black market and the Peer-to-Peer (P2P) segments of the foreign exchange market and gaining in the Investors and Exporters (I&E) window.
In the P2P category, the local currency declined by N13 against the greenback to sell at N738/$1 compared with the preceding session’s N725/$1, and in the black market, it lost N7 to trade at N720/$1 in contrast to Thursday’s value of N713/$1.
However, in the spot market, the domestic currency appreciated against the American currency by 17 Kobo or 0.04 per cent to close at N436.33/$1 in contrast to the previous day’s N436.50/$1.
Data from the FMDQ Securities Exchange indicated that the turnover for the session increased slightly by $4.37 million or 4.3 per cent to $106.11 million from $101.74 million.
In the interbank segment, the value of the Naira to the Pound Sterling remained unchanged at N487.99/£1 and against the Euro, the local currency also traded flat at N425.66/€1.
In the digital currency market, it was a mixture of ups, downs and flats, with Dogecoin (DOGE) recording an 8.1 per cent rise to trade at $0.0657.
Solana (SOL) appreciated by 6.9 per cent to $34.16, Litecoin (LTC) went up by 4.0 per cent to trade at $54.92, Binance Coin (BNB) recorded a 2.9 per cent rise to sell at $281.86 while Ethereum (ETH) saw its value go up by 1.4 per cent to sell at $1,326.76.
On the other hand, Ripple (XRP) recorded a loss of 1.8 per cent to quote at $0.4939, Bitcoin (BTC) slid by 0.2 per cent to $19,035.94, Cardano (ADA) recorded a 0.1 per cent slide to trade at $0.4599, while the US Dollar Tether (USDT) and Binance USD (BUSD) closed flat at $1.00, respectively.
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By Dipo Olowookere
Twenty-two stocks ended on the losers’ chart on Friday at the Nigerian Exchange (NGX) Limited, outweighing the 11 equities that finished on the gainers’ log.
The weak investor sentiment further plunged the market into the danger zone by 0.33 per cent at the close of transactions, data from the exchange indicated.
It was observed that the equity market has remained bearish despite the recent gains in banking shares. The sustained sell-offs in the industrial goods space have continued to put the bourse under pressure.
The industrial goods sector depreciated yesterday by 1.61 per cent, the insurance counter lost 0.46 per cent, the energy index declined by 0.46 per cent, while the banking and consumer goods sectors appreciated by 0.85 per cent and 0.10 per cent, respectively.
The All-Share Index (ASI) decreased at the close of business by 163.72 points to 49,026.62 points from 49,190.34 points as the market capitalisation went down by N88 billion to N26.445 trillion from N26.533 trillion.
A total of 169.2 million stocks worth N3.2 billion were transacted on Friday in 3,206 deals compared with the 126.8 million stocks worth N1.8 billion traded in 3,117 deals on Thursday, indicating an improvement in the trading volume, value and number of deals by 33.38 per cent, 79.16 per cent and 2.86 per cent, respectively.
Courteville ended the day as the busiest stock after it transacted 27.7 million units valued at N12.5 million, NGX Group traded 24.5 million units worth N417.4 million, Zenith Bank transacted 20.8 million units worth N416.8 million, Transcorp exchanged 11.2 million units valued at N11.6 million, while Jaiz Bank sold 10.9 million units for N8.7 million.
The worst-performing stock was CWG as its value depleted by 10.00 per cent to 81 Kobo, Berger Paints lost 9.85 per cent to N5.95, Eterna went down by 9.45 per cent to N5.75, Sunu Assurances declined by 8.57 per cent to 32 Kobo, while Chams dropped 6.90 per cent to 27 Kobo.
The best-performing stock yesterday was Vitafoam, which grew by 6.90 per cent to N22.45, followed by RT Briscoe, which appreciated by 6.06 per cent to 35 Kobo. Access Holdings improved by 6.02 per cent to N8.80, Cornerstone Insurance expanded by 3.70 per cent to 56 Kobo, while Fidelity Bank rose by 3.00 per cent to N3.78.
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