iHub has announced a second cohort of digital startups who will participate in a scale-up accelerator program, Traction Camp.
The 27 startups have been selected for the six-month business acceleration program. The program will see the startups receive mentoring from global and local experts, learn through a tailor-made curriculum, increase their regional visibility, and get access to potential partners and investors.
The programme will culminate in a one-week residency in Kenya, where the startups will have the opportunity to interact with and learn from their mentors, coaches, peers, potential partners and investors.
After successfully completing the first cycle of the program; the second cycle of the program will kick off in March 2018. The first cycle supported 16 high growth ventures from five countries in Eastern Africa namely; Kenya, Tanzania, Rwanda, Uganda and Ethiopia.
Some of the members from cohort one are currently fundraising, with some indicating that they are almost closing deals while others have expanded into new markets. A number of the startups have reported growth in their sales revenues and growing their teams.
In Cohort 2, the country composition of the startups are as follows: 17 are from Kenya, 5 from Uganda, 2 from Somalia and Tanzania and 1 startup from Rwanda.
Traction Camp’s newest portfolio companies include the following:
TozzaPlus (Kenya) – is a cloud business management solution for small and medium enterprises.
SolarGen Technologies (Somalia) – is a renewable energy company in Somalia that offers engineering, design, and installation of: Mini-Grids ; Solar Irrigation Systems, Solar Street Lights, and Solar Water Pumps.
Sheria Soft (Kenya) – is a legal practice management system which enables lawyers and legal professionals to easily manage their practice.
GrassRoots Bima (Kenya) – GrassRoot Bima connects (potential) customers with insurers via an integrated insurtech solution – WazInsure, to access insurance services more simply and transparently through both online and offline applications.
SmartFit (Tanzania) – is a social enterprise developing and deploying self-operated water purification and vending machines in sub-Saharan Africa to enable easy access to clean and safe drinking water at an affordable cost.
Bunifu Framework (Kenya) – is productivity tool for software developers that helps reduce their development time through use of pre-made modern custom controls and components.
Nampya Farmers’ Market (Uganda) – is marketplace that connects farmers with customers using a b2b model.
Taimba Limited (Kenya) – is a business to business mobile-based cashless platform that connects farmers to retailers.
Elimisha Tutors (Kenya) – is an online marketplace that helps parents find nearby expert tutors for their children in need of personalized academic attention for core subjects and niche skills.
Be Afrika Media Ltd (Kenya) – is a content creation company that works as a creative collaboration, focusing on building brands in the creative sector in Africa.
Ejenzi Africa (Kenya) – is an online marketplace for building and construction materials and home improvement products.
Optimetriks (Kenya) – is an Africa based company that enable FMCG companies operating in Africa to get a tighter control over their distribution networks, reach their full sales potential and better understand the market dynamics through smarter field data.
Tango TV (Tanzania) – is a video on demand service for African swahili content, focusing on local language films and shows
Zoa (Kenya) – is a cloud hosted branch-less, paperless financial management platform for financial institutions delivered on mobile and web.
Denkim Insurance (Kenya) – is an online insurance service provider that provides an integrated system that connects insurance players in the insurance value chain.
Sauti East Africa Limited (Kenya & Uganda) – is a mobile-based trade & market information platform for MSMEs engaged in cross-border trade in the East African Community.
Yasa (Uganda) – Is a startup in Uganda that has developed sustainable and affordable alternative energy solutions for rural communities.
Baobab Circle (Kenya) – provides personalized health advice/education via mobile phones for those suffering from chronic diseases across Africa.
Skooldesk (Uganda) – is an intuitive e-learning platform that helps kids improve their learning outcomes through tests with automated grading, interactive learning objects and a robust analytics engine that helps identify strengths and weaknesses at subject and topic level.
SomHealth (Somalia) – provides 24/7 on call system that urban poor families can call the center and health care professionals are visiting the family in 5- 15 minutes to increase access to pregnant women and under five children to improve health and nutrition .
Lacel Technologies (Kenya) – is a software company that designs and develops mobile & web apps for small and leading brands.
Uplus (Rwanda) – is a digital crowdfunding platform for Africa, which enables people to pull fund together in a group using their mobile phones, and make something happen, like a savings group or a wedding contribution group.
Azima (Kenya) – is an android based mobile lending app that offers much needed short term liquidity anywhere anytime in Kenya.
B2B Smartlink Ltd (Kenya) – is a platform that generates a single feed of information about the status of a business through capturing of every critical data of the business.
Klientele Ltd (Kenya) – is a provider of mobile lending products for short-term small loans.
Mimea Agricultural Solution (Kenya) – is ensuring food production and processing is done in both a safe and smart way using its envisioned Mimea Point Integrated System (MP-IS).
Ancaps Global Tech (Uganda) – is Africa’s Uber for long distance haulage trucks that supports transportation of goods from one place to another.
The program is backed by the World Bank Group’s infoDev program and supported by the governments of Norway, Sweden, Finland, and Kenya.
Pan African eCommerce Giant Jumia Makes History with NYSE listing
Jumia Technologies made history on 10th April 2019 following the approval of the Securities and Exchange Commission (SEC) allowing the pan-African e-commerce giant to sell its shares on the New York Stock Exchange (NYSE). Consequently, Jumia started trading its shares at $14.50 using the ticker symbol JMIA. This makes Jumia Technologies the first African startup to secure major global exchange listing.
Jumia is currently active in fourteen African countries including Nigeria, Ivory Coast, and Tanzania. The e-commerce platform has 81,000 active sellers with over 5,000 direct employees. According to a statement contained in its recent SEC filing, Jumia Technologies added three hundred thousand new active customers in the first quarter of 2019.
Through the sale of its American Depositary Shares, the company can raise up to $316. According to the Corporate Communications officer, Lisette Kwong, Jumia initially set its IPO at $14.50 but it opened and closed at higher prices.
Jumia’s Brief History and Growth
Jumia was co-founded in 2012 by Sacha Poignonnec, Jeremy Hodara, Tunde Kehinde and Raphael Kofi Afaedor. The company was an outgrowth of the Rocket Internet Company. However, its rapid growth allowed it to secure funding from investors like Millicom group, MTN, Orange, Goldman Sachs, and CDC. According to The Guardian, MTN is the largest shareholder with 29.7%. Rocket Internet is second on the log with 20.6%. Other investors and their stake include AXA Africa holdings (5.8%), AEH New Africa eCommerce (8.4%), and Millicom (9.6%).
The two Nigerian co-founders, Raphael Afaedor and Tunde Kehinde are credited with the creation of some of the company’s components including JumiaPay. However, they left the company in 2015 to build other startups.
What Next For Jumia?
Jumia’s share price was up by 61% in early trade. Inasmuch as NASDAQ is traditionally for technology companies, Jumia decided to list on NYSE. The Head of International Capital Markets at the NYSE, Mr. Alex Ibrahim said the company did so because they saw the benefits. According to Ibrahim, the volatility of NYSE is higher than its competitors. Speaking on the listing of the company on NYSE, the co-founders said,
“This achievement has been made possible thanks to the hard work of our teams, the trust of our consumers, as well as the commitment of our sellers and partners. All stakeholders deserve credit for this milestone, and we are just at the beginning of a long and great journey. We are going to continue to focus on our mission and to work even harder to help consumers, sellers, partners, and all stakeholders benefit from this technological revolution.”
Jumia is attracting lots of attention but the pan-African eCommerce giant is not a stranger to accolades. Some of the awards on Jumia’s archive include;
- Best New Retail (World Retail Awards 2013)
- Online Retail Brand of the year (Brand Journalists Association of Nigeria (2013)
- The innovative business of the year (Success Digest 2013)
- Leadership ICT company of the year (2013)
- Best use of Mobile App (Rima Awards)
E-commerce website of the year (Beacon of ICT Award)
Ephraim Banadda is First African to Win Pius XI Medal
Makerere Professor Ephraim Banadda has become the first African to win the Pius XI medal, scooping the 2018 award. The Pontifical Academy of Sciences gives the award to recognize outstanding scientific research.
Professor Banadda is a Ugandan scientist born in 1975. He was the first African to get a Ph.D. in Chemical Engineering at the Katholieke Universiteit Leuven in Belgium. The institution is one of the oldest universities in the world—established in 1425. Professor Banadda also holds MSc in Processing Engineering from the same institution.
The professor took his undergraduate studies at the Sokoine University of Agriculture in Tanzania and holds BSc Food Science and Technology from the Tanzanian institution. At the age of 37, Noble Banadda was appointed a full professor at the University of Makerere.
The professor is the current Chair of the Department of Agricultural and Biosystems Engineering, College of Agricultural and Environmental Sciences. In 2013, the Professor became the youngest fellow to join the Uganda National Academy of Sciences. In 2015, Professor Banadda was among the seven Africans who qualified for the Next Einstein Fellowship.
The Pius XI medal recognizes Professor Banadda’s contributions in scientific research. The professor’s research interests are in biological systems, mathematical modeling, and renewable energy. In addition, the professor has authored over 80 peer-reviewed scientific papers and has over 1,1395 citations on Google Scholar.
Some of Professor’s Banadda’s known works and innovations include making diesel from plastic materials. The Professor also developed a solar irrigation system. In 2015, Professor Banadda launched the first Makerere University MV Mulimi, a cost-effective farmers’ tractor. A year later in 2016, the professor unveiled organic pesticide made from agricultural waste. These achievements demonstrate that the Professor has been at the forefront of agricultural innovation in Uganda.
The Pius XI Medal
The Pius XI medal was launched in 1961, and the academy has awarded 28 winners since the inception. The academy itself, however, was found in 1936 by the Holy Father Pius XI. In 1961, Pope John XXIII established the Gold medal to recognize young scientists under the age of 45. The award recognizes scientists who work free of economic, ideological, or political interests. Professor Banadda received his medal on 12 November 2018 at the Papal Wing at the Vatican.
The selection process for the Pius XI medal is a well-kept secret. The Vatican is the venue for the award ceremony, and the Pope himself awards the medal to the winner. Professor Banadda received his medal on 12 November 2018 at the Papal Wing at the Vatican. The 2018 Pius XI Medal recognizes Professor Banadda’s outstanding scientific research and publication.
The professor aspires to one day join the Pontifical Academy of Sciences, whose alumni include Galileo Galileo and several Nobel Prize winners in the fields of Physics, Medicine, Space engineering, Stem Biology, and Mathematics.
Microsoft Wants To Promote Digital Transformation in Africa And Here Is How
South Africa is the home for Microsoft’s first data centers in Africa. The two data centers are located in Cape Town and Johannesburg. The new data centers are serving Azure, with Dynamics 365 and Office 365 scheduled to be added by end of 2019.
The company had, in 2017, announced that it plans to have data centers in South Africa. Overall, the multinational technology company has 54 cloud regions announced around the world.
Data Centers and Digital Transformation
The new data centers in South Africa make Microsoft the first global provider to offer cloud services from data centers in Africa. The company aims to help in promoting digital transformation in Africa.
The location of the data centers in Africa means regional users are guaranteed of resilient cloud services, enhanced security, compliance needs, and data residency. Furthermore, the new data centers will help promote global investment, improve access to the Internet and cloud services in Africa, and increase business opportunities in the region.
Projections from IDC–International Data Corporation–indicate that adoption of the cloud services will generate around 112,000 jobs in South Africa—by end of 2022. The data centers will facilitate improved environment for building digital businesses. Nedbank for instance, plans to utilize Microsoft Azure to increase its agility, customer focus, and competitiveness.
Furthermore, Azure provides companies with data privacy and security. This makes it a suitable service for banks like Nedbank. The Peace Parks Foundation and eThekwini Water have also signed up with Microsoft for computing services.
Microsoft Azure is a cloud computing service. It can be used for building, testing, managing, and deploying services and applications through Microsoft data centers. The service supports different tools, frameworks, and programming languages.
Users of Azure can enjoy instant computing resources on demand. In addition, businesses or individuals using the service do not have to build on-site data centers or have server cooling environments. Also Azure users do not endure maintenance costs, electricity costs, and use of floor space. As such, Azure brings down the costs of computing.
Microsoft’s Investment in Africa
Microsoft has a 30-year history of operations in Africa. With over 10,000 local partners on the continent, the new data centers in South Africa add to the company’s long list of investments in Africa. The expansive investments in Africa took a new direction with Microsoft’s launch of 4Africa Initiative in 2013.
The initiative seeks to facilitate the company’s engagement with startups, partners, and governments. The aim of these engagements is to help the youth develop locally relevant technology, 21st-century skills, and affordable access to the Internet.
Other global tech giants with plans to open data centers in Africa include Huawei and Amazon. Facebook announced it will set up a content review center in Nairobi, Kenya.
- Explore Africa3 months ago
20 Modern African Women Leaders Who Are Opening New Trails For Women
- Explore Africa3 months ago
There Is A Growing List of African Countries That Allow Dual Citizenship
- Money Matters7 days ago
The Njangi: An African Financial Support System
- Arts & Culture3 months ago
Beyonce Wears Ankara Suit By Nigerian Designer to UTA Artist Space Event
- Celebrities3 months ago
20 Most Influential African Actresses On Instagram
- Fashion3 months ago
DESIGNER SPOTLIGHT: Sheelah Garbrah Gives The Kente Cloth A Stunning Makeover With Her Ohemaa Collection
- African Ingenuity3 months ago
2019 Africa Owned Car Brands Manufactured In Africa
- Arts & Culture3 months ago
Davido Just Released A New Remix Of His Song “Fall” With Busta Rhymes