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🚙 Burkina Faso unveils its first fully indigenous electric vehicle
🪴Bento Africa faces allegations of not remitting collected taxes; CEO denies wrongdoing
🏥 i3 to invest $1.6 million in 15 African healthtech startups
📱South Africa's Insight Terra raises $5.7 million to expand climate-tech platform
💵 Stitch acquires ExiPay to boost omnichannel payments in South Africa |
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| | | | | 🚙 VEHICLES | Burkina Faso unveils its first fully indigenous electric vehicle | | As the race for electric vehicles (EVs) intensifies across the African continent, Burkina Faso has made a significant stride by launching its first fully indigenous electric vehicle, branded as ITAOUA. This groundbreaking development marks a pivotal moment for the nation, showcasing its potential in the burgeoning EV market. | According to the manufacturer, the ITAOUA EV boasts an impressive range of 330 kilometers on a single charge, which can be achieved in just 30 minutes. This remarkable efficiency positions the ITAOUA as a competitive player in the rapidly evolving landscape of electric mobility. | The production facility for this innovative vehicle is strategically located in Ouaga 2000, one of the most prominent districts in Burkina Faso. This initiative is the brainchild of a visionary Burkinabe entrepreneur who aspires to transform the country into a technological hub, fostering local innovation and manufacturing capabilities........…continue reading |
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| | | | | 🪴 STARTUPS | Bento Africa faces allegations of not remitting collected taxes; CEO denies wrongdoing | | The Lagos State Inland Revenue Service (LIRS) is reportedly looking into allegations of financial impropriety at Bento Africa, a well-known payroll and human resources (HR) management company in Nigeria. The business is said to have caused large financial disparities and possible legal repercussions by neglecting to pay pension contributions and Pay-As-You-Earn (PAYE) taxes on behalf of its customers. Sultan Akintunde, a co-founder of AltSchool Africa, openly accused Bento Africa of misconduct, which sparked the dispute. | Akintunde claimed in a post dated January 24, 2025, that although Bento gathered large amounts from customers for tax purposes, it only sent little amounts to the LIRS. He said, "You [Bento] have been sending 100 Naira to LIRS while receiving millions from us. After sending ₦100, these individuals would obtain a receipt, then create a new one that matched the original amount they were supposed to send and submit it........…continue reading |
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| | | | | 🏥 HEALTHTECH | i3 to invest $1.6 million in 15 African healthtech startups | | Investing in Innovation Africa (i3), a collaborative initiative supported by the Gates Foundation, a consortium of donors, pharmaceutical manufacturers, and African government institutions, is set to invest $1.6 million in 15 healthtech startups across the African continent. This initiative aims to bolster the healthcare landscape by providing financial support to innovative companies addressing critical challenges in healthcare delivery, pharmacy services, and product distribution. | As part of this funding round, i3 will award $50,000 in equity-free grants to ten early-stage startups, while five additional early-stage startups will receive grants of up to $225,000 each. This funding is specifically targeted at startups that have demonstrated a viable product-market fit and have achieved annual revenues exceeding $10,000. For growth-stage companies, eligibility requires evidence of national-level operations and a minimum revenue of $500,000. | This funding initiative comes at a time when venture capital investment in Africa is experiencing a downturn, with healthtech startups receiving the smallest share of funding in the past year. In the first half of 2024, healthtech companies raised only $42.2 million, accounting for approximately 6.5% of the total funds raised across all sectors........…..continue reading |
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| Start learning AI in 2025 | | Everyone talks about AI, but no one has the time to learn it. So, we found the easiest way to learn AI in as little time as possible: The Rundown AI. | It's a free AI newsletter that keeps you up-to-date on the latest AI news, and teaches you how to apply it in just 5 minutes a day. | Plus, complete the quiz after signing up and they'll recommend the best AI tools, guides, and courses – tailored to your needs. | Sign up to start learning. | | | | | 📱TELECOMS | South Africa's Insight Terra raises $5.7 million to expand climate-tech platform | | South African startup Insight Terra has successfully secured an impressive US$5.7 million in Series A extension funding, aimed at accelerating the growth of its innovative AI-driven platform dedicated to greenhouse gas (GHG) management and environmental risk assessment. This funding marks a significant milestone for Insight Terra as it embarks on its mission to enhance environmental risk management and contribute to a more sustainable future through innovative technology. | Insight Terra specializes in environmental risk management, providing a sophisticated platform that converts intricate data sets into actionable insights. By leveraging real-time analytics, the platform empowers organizations to effectively monitor and mitigate their environmental impacts, thereby enhancing their sustainability initiatives and ensuring compliance with regulatory standards.....…..continue reading |
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| | | | | 💵 PAYMENTS | Stitch acquires ExiPay to boost omnichannel payments in South Africa | | A prominent fintech startup based in South Africa, Stitch, specializing in online payments infrastructure tailored for large enterprises, has recently made headlines with its acquisition of ExiPay, a startup focused on providing in-person payment solutions for retail businesses. While the financial details of the acquisition remain undisclosed, this strategic move is set to enhance Stitch's capabilities by integrating both online and in-person payment systems into a single, cohesive platform. This integration aims to simplify the payment tracking process for businesses operating across various channels. | Founded in 2019, Stitch has successfully raised $52 million in funding and has expanded its operations into Nigeria, with plans to further extend its reach into markets such as Kenya, Ghana, and Egypt in the near future. This acquisition not only strengthens Stitch's market position but also enhances its ability to meet the evolving needs of enterprises in an increasingly integrated payment landscape....…..continue reading |
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| | | | | OPPORTUNITIES | Applications are now open for the Women Techsters Fellowship Programme, a free, one-year initiative designed to equip young girls and women with high-demand technology skills. Deadline = 31st January 2025……..continue reading The Lagos State Science Research and Innovation Council (LASRIC) calls on bold thinkers and trailblazers to apply for funding and support under its 2024 Innovation Initiative. Deadline = 31st January 2025…..continue reading Global payment card network Visa has announced the opening of applications for the fourth edition of its biannual Africa Fintech Accelerator. Deadline = 15th March 2025…….continue reading Applications are now open for the Timbuktoo MineTech Accelerator programme, a groundbreaking initiative by the Timbuktoo MineTech Hub aimed at driving innovation in mining technology, empowering startups, and scaling transformative technologies within the African mining sector. Deadline = 13th February 2025…..continue reading
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Innovation Village |
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