5 African fintech startups to watch in 2023

5 African fintech startups to watch in 2023

Fintech is one of the most dynamic and innovative sectors in Africa, with hundreds of startups offering solutions for payments, lending, banking, insurance and more. In 2022, African fintech startups raised over $1.4 billion in funding, according to Disrupt Africa, and attracted global attention with acquisitions and partnerships.

Africa is a continent with immense potential for innovation and growth in the financial sector. According to the World Bank, more than 60% of the population in sub-Saharan Africa is unbanked, meaning they lack access to formal financial services such as savings, credit, insurance and payments. However, thanks to the rapid adoption of mobile phones and internet connectivity, many African entrepreneurs are developing innovative solutions to address this gap and provide affordable and convenient financial services to millions of people.

In this blog post, we will highlight five African fintech startups that are making waves in the industry and have the potential to scale up and impact millions of lives in 2023 and beyond.

Okra

Okra is a Nigerian startup that provides an API platform for connecting bank accounts to third-party applications. Founded in 2019, Okra has secured partnerships with major players like Access Bank, Interswitch and uLesson, and raised $10 million in a seed round led by TLcom Capital and Accenture Ventures. Okra enables businesses to access real-time financial data, initiate payments, verify identity and perform direct debits from customers’ bank accounts.

Moove

Moove is a Nigerian mobility fintech that provides revenue-based vehicle financing to drivers and transport entrepreneurs across Africa. Launched in 2019, Moove has facilitated over $200 million in loans for more than 10,000 drivers on platforms like Uber and Bolt. Moove leverages data and technology to assess credit risk and offer flexible repayment terms based on drivers’ earnings. Moove raised $68.5 million in a Series A round led by Speedinvest and Left Lane Capital.

Tabby

Tabby is an Egyptian startup that offers a buy now, pay later (BNPL) service for online and offline shoppers in the Middle East and North Africa. Founded in 2019, Tabby allows customers to split their purchases into four interest-free installments or pay after 14 days with no fees. Tabby partners with over 2,000 merchants across various sectors, including fashion, electronics, beauty and travel. Tabby raised $50 million in a Series B round led by Global Founders Capital and STV.

Wave

Wave is a Senegalese startup that provides a mobile money service that allows users to send and receive money instantly and securely via their phones. Founded in 2018, Wave aims to make mobile money more accessible and affordable by charging no fees for transactions and offering competitive exchange rates. Wave operates in Senegal, Uganda, Gambia, Mali, Burkina Faso and Ivory Coast, where it claims to have over 5 million active users and process over $2.5 billion in annualized payment volume. Wave raised $200 million in a Series A round led by Sequoia Heritage and Stripe.

JUMO

JUMO is a South African startup that operates a technology platform for building and running financial services for emerging markets. Founded in 2014, JUMO partners with banks, mobile network operators and fintech companies to offer credit, savings and insurance products to underserved customers. JUMO has served over 20 million customers and disbursed over $3 billion in loans across 15 markets in Africa and Asia. JUMO raised $55 million in a funding round led by Goldman Sachs.

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3 ways blockchain technology lets small businesses in Africa overcome barriers and unlock new opportunities

3 ways blockchain technology lets small businesses in Africa overcome barriers and unlock new opportunities

Blockchain technology is a platform for designing financial services that can bridge many gaps in today’s virtual market system. It allows for data to be synchronized across multiple, independent stakeholders, enabling greater transparency, efficiency, and security. Blockchain technology can have a significant impact on small businesses in Africa, especially in the areas of payment solutions, access to finance, and operational improvement.

Payment solutions

Blockchain technology can facilitate low-cost, real-time, and cross-border payments for small businesses in Africa. This can help them overcome the challenges of high fees, slow transactions, and currency fluctuations that often hamper their trade with local and international partners. For example, Stellar is a blockchain network that connects payment systems, banks, and people around the world, allowing for fast and cheap money transfers. Stellar has partnered with several African fintech companies, such as Flutterwave, Cowrie, and ClickPesa, to provide blockchain-based payment solutions for small businesses in Nigeria, Ghana, Kenya, and Tanzania.

A small businesses owner in Africa using a laptop to work

Access to finance

Blockchain technology can also help small businesses in Africa access more funding opportunities and build a credit history. Many small businesses in Africa face difficulties in obtaining loans from traditional financial institutions due to a lack of collateral, documentation, and credit scores. Blockchain technology can enable alternative lending platforms that use smart contracts, digital assets, and peer-to-peer networks to provide loans to small businesses based on their transaction history, reputation, and social capital. For example, Bitbond is a blockchain-based lending platform that connects borrowers and lenders globally, offering loans to small businesses in Africa without intermediaries or credit checks.

Operational improvement

Blockchain technology can also enhance the operational efficiency and productivity of small businesses in Africa by automating processes, reducing fraud, and improving supply chain management. It can enable smart contracts that execute automatically based on predefined conditions, eliminating the need for manual intervention and verification. Blockchain technology can also provide a secure and immutable record of transactions and data, reducing the risk of tampering, corruption, and theft. Blockchain technology can also improve the traceability and transparency of supply chains, allowing small businesses to verify the origin, quality, and delivery of their products. For example, Bext360 is a blockchain-based platform that tracks the journey of coffee beans from farmers to consumers, ensuring fair trade and quality control.

In conclusion, blockchain technology can have a positive impact on small businesses in Africa by providing them with more efficient, affordable, and accessible financial services and business solutions. Blockchain technology can help small businesses overcome some of the barriers they face in today’s market system and unlock new opportunities for growth and development.

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A big decision: switching from Playstation to Xbox

A big decision: switching from Playstation to Xbox

Hey gamers, welcome back to my blog where I share my thoughts and opinions on everything related to gaming. Today I want to talk about a big decision I made recently: switching from Playstation to Xbox. Yes, you read that right. I know some of you might be shocked or even angry, but hear me out. I have some good reasons for making this change and I want to share them with you.

First of all, let me say that I have nothing against Playstation. I have been a loyal fan of Sony’s consoles since the PS1 era and I have enjoyed many great games and experiences on them. I still have my PS4 and PS5 and I will continue to play them from time to time. But lately, I have been feeling more drawn to Xbox and what it has to offer.

switching from Playstation to Xbox features include Game Pass, xCloud

One of the main reasons is Game Pass. This is a subscription service that gives you access to hundreds of games for a monthly fee. You can download and play any game you want from a huge library that includes new releases, classics, indie gems, and even some exclusive titles. You can also stream games to your PC or mobile device with xCloud. This is a game-changer for me because it saves me a lot of money and time. Instead of buying games at full price or waiting for sales, I can just play whatever I want whenever I want. And if I don’t like a game, I can just delete it and try something else. No regrets, no hassle.

Another reason is the backward compatibility. Xbox supports playing games from previous generations of consoles, including the original Xbox, Xbox 360, and Xbox One. This means you can enjoy your old favorites or discover new ones without having to switch consoles or buy remasters. You can also benefit from improved graphics, performance, and features on newer hardware. For example, some games support FPS Boost, which increases the frame rate up to 120 fps, or Auto HDR, which adds high dynamic range lighting to older games. This makes playing old games feel fresh and new.

Xbox One

The third reason is the controller. I know this might sound trivial, but the controller is very important for me as a gamer. It’s the main way I interact with the games and it affects my comfort and enjoyment. And I have to say that I prefer the Xbox controller over the Playstation one. It feels more ergonomic and natural in my hands, the triggers are more responsive and adaptive, the thumbsticks are more precise and durable, and the battery life is longer. Plus, I like the design and color options better.

These are just some of the reasons why I switched from Playstation to Xbox. Of course, there are other factors that might influence your choice, such as exclusive games, online services, community, etc. But for me personally, Xbox offers more value, variety, and quality than Playstation right now. And that’s why I made the switch.

What do you think? Do you agree or disagree with me? Have you ever switched consoles or are you loyal to one brand? Let me know in the comments below. And don’t forget to like and subscribe for more gaming content. Thanks for reading and happy gaming!

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5 ways you can make money with technology

5 ways you can make money with technology

Technology is one of the most dynamic and lucrative fields in the world today. If you have a passion for tech and want to turn it into a source of income, there are many ways you can do so. In this blog post, we will explore some of the most popular and profitable ways to make money with technology.

Start a tech blog or podcast

If you enjoy writing or speaking about tech topics, you can create a blog, YouTube channel or a podcast and share your insights, opinions, reviews, tutorials, or news with an online audience. You can monetize your content by displaying ads, selling sponsored posts or episodes, offering subscriptions or memberships, or creating your own products or services.

Develop an app or software

If you have coding skills or are willing to learn, you can develop your own app or software and sell it on various platforms such as Google Play, Apple App Store, Steam, or your own website. You can create an app or a software for entertainment, education, productivity, gaming, social networking, or any other niche that interests you. You can earn money by charging a fee for downloading or using your app or software, offering in-app purchases or upgrades, or displaying ads.

Teach tech skills online

If you have expertise in any tech-related field such as web development, graphic design, data science, cybersecurity, or digital marketing, you can teach others online and earn money. You can create your own online courses and sell them on platforms such as Udemy, Skillshare, Coursera, or your own website. You can also offer live coaching or mentoring sessions via platforms such as Zoom, Skype, or Google Meet.

Sell tech products or services online

If you have a knack for finding or creating tech products or services that solve problems or meet needs, you can sell them online and make money. You can sell physical products such as gadgets, accessories, hardware, or software on platforms such as Amazon, eBay, Shopify, or your own website. You can also sell digital products such as ebooks, audiobooks, videos, music, games, or software on platforms such as Gumroad, Sellfy, Podia, or your own website.

Freelance as a tech professional

If you have skills and experience in any tech-related field such as web development, graphic design, data science, cybersecurity, or digital marketing, you can offer your services online and work as a freelancer. You can find clients and projects on platforms such as Upwork, Fiverr, Freelancer.com, Toptal, or your own website. You can charge by the hour, by the project, or by the value you provide.

These are just some of the many ways you can make money with technology. The key is to find something that matches your skills, interests, and goals, and to provide value to your target market. With dedication, creativity, and hard work, you can turn your passion for tech into a profitable venture.

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Here are tips on how to become a successful content creator in 2023

Here are tips on how to become a successful content creator in 2023

If you love creating and sharing content online, you might be wondering how to become a successful content creator in 2023. Content creation is a booming industry that offers many opportunities for people who have something valuable, entertaining, or educational to say. But what exactly is a content creator, and what do you need to succeed in this field? Here are some answers and tips to help you get started.

A content creator is someone who produces and distributes content through any medium or channel. Content can be anything from videos, blogs, podcasts, social media posts, newsletters, ebooks, and more. Content creators use their skills and creativity to communicate a message, tell a story, or teach something to their audience.

an image showing a successful content creator sitting at a desk
Image by DCStudio on Freepik

Successful content creator tips

To be a successful content creator in 2023, you need more than just good content. You also need to have a clear vision of your niche, your audience, and your goals. Here are some tools, tips, and tricks that can help you become a great content creator:

Find your niche and know your audience.

A niche is a specific topic or area of interest that you focus on. Knowing your niche will help you create content that is relevant, engaging, and unique. Knowing your audience will help you understand their needs, preferences, and pain points. You can use tools like Google Trends, BuzzSumo, or AnswerThePublic to research popular topics and keywords in your niche. You can also use social media analytics, surveys, or feedback forms to learn more about your audience.

Create a content strategy and plan.

A content strategy is a roadmap that guides your content creation process. It helps you define your goals, your value proposition, your tone of voice, your content types, your distribution channels, and your metrics. A content plan is a schedule that outlines what content you will create, when you will create it, and how you will promote it. You can use tools like Trello, Asana, or CoSchedule to organize your content strategy and plan.

image of asuccessful african content creator
mage by DCStudio on Freepik

Produce high-quality and consistent content.

Quality and consistency are key to building trust and loyalty with your audience. Quality means that your content is well-researched, well-written, well-edited, well-designed, and well-presented. Consistency means that your content follows a certain style, format, frequency, and tone. You can use tools like Grammarly, Hemingway, Canva, or Adobe Spark to improve the quality of your content. You can also use tools like Buffer, Hootsuite, or Later to schedule and automate your content distribution.

Optimize your content for SEO and social media.

SEO (search engine optimization) and social media are two of the most important ways to increase the visibility and reach of your content. SEO helps your content rank higher on search engines like Google or Bing. Social media helps your content get shared and discovered by more people on platforms like Facebook, Instagram, Twitter, or TikTok. You can use tools like Yoast, Moz, or SEMrush to optimize your content for SEO. You can also use tools like Unsplash, Pexels, or Pixabay to find royalty-free images for your content.

Engage with your audience and grow your community to be a successful content creator.

Engagement and community are essential for building relationships and loyalty with your audience. Engagement means that you interact with your audience by responding to their comments, questions, feedback, or reviews. Community means that you create a sense of belonging and connection among your audience by encouraging them to share their stories, opinions, or experiences. You can use tools like Podia, Patreon, or Substack to create membership sites, newsletters, or online courses for your audience. You can also use tools like Discord, Slack, or Facebook Groups to create online communities for your audience.

Content creation is a rewarding and exciting career that allows you to express yourself creatively and share your knowledge with others. By following these tips and using these tools, you can become a successful content creator in 2023.

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3 things web designers can learn from the gambling industry

3 things web designers can learn from the gambling industry

We’ve watched as the gambling industry has swept across the United States, picking up millions of new bettors as it breezes from coast to coast. There has never been anything quite like it, as the leading betting websites from Europe and Las Vegas do battle.

The aim is to grab a sizeable share of the goldmine uncovered when White House officials voted to lift the nation’s long-running and profoundly unpopular ban on betting in 2018. What followed was a stampede of bookies.

Picture the scene. You’re the head of a significant gambling app in the United Kingdom with generations worth of experience giving customers the best treatment. Then the United States invited bookies to trade and attract the business of millions of sports fans. 

These followers of the NFL, NBA, and NHL have been starved of the chance to use their sporting knowledge to target a profit or enjoy the thrill of betting on their favorite team to win.

An aggressive approach

The sportsbooks that acted swiftly and aggressively made the best possible start, signing up the first wave of bettors. Things slowed during the pandemic when no sporting action was shown live on TV, and fans were banned from attending stadiums. But the industry is now back to full speed, and the race is on to impress. But how does a bookie become successful in the face of so much competition? 

We chose to analyze that question in this article to learn a thing or two. The gambling industry is as competitive as any other you’ll see in business, and clever marketing is often the difference between attracting customers and losing clients to rival apps. Just like the sports they cover, the lines between success and failure are fine, almost invisible. Keep reading as we discuss the three takeaways from how major bookmakers have secured success in their chosen industry. These are hints, tricks, and tips you can use on your website or that of your employers. There’s nothing out of the ordinary here and no software that will cost you a fortune. These simple marketing methods have been tried and tested over the last 100 years.

cheer leaders performing during halftime break at the NBA gaming gambling industry
Google Images Creative Commons Licenses

Welcome bonus

The essential thing bookies do to attract new customers and persuade others to move from the competition is incentivizing the sign-up. This is known in the industry as a welcome bonus, and it gives all new registrations a free bet equal to their first deposit and wager. Sign up, deposit $50, and get a $50 free bet.

The deposit-matched welcome bonus isn’t the other offer – others include enhanced odds and risk-free bets – but it is the most popular. It works for both the bookie and the customer as the app gets a new follower while the player collects a free bet. The more generous the bonus, the more attention it attracts on social media and in registrations.

Free bets encourage new players to register, but that incentive could be anything you wish to offer. It could be stock, days out, prizes, vacations, or just free stuff. Be more generous than the competition, and your business will reap the rewards.

Closely monitor the competition

You must know precisely what they are up to beat the competition and do it better. Whether your website is for a car garage, window cleaning, or luxury spas, it doesn’t matter. You must work harder if you’re not the best in your field.

Don’t just look at competitor sites and pick the flaws in them. Look for what they do well and ask yourself, could I do it any better? Track their offers and prices, and contact the customer service team. Buy an item and rate the service. You want to pick up the good points from your rivals and work on where you believe they can improve.

The top bookies are big fans of the competition but would never admit it to customers. Check and compare two more sports betting apps today, and you’ll find there is little difference between the look and feel of the site as well as how it operates.

User-friendly site

Above all else, your website and the mobile app must be user-friendly, fast, and stylish. The aim of any e-commerce site is to make a sale. The longer a customer is on your page without making a purchase, the more likely they are to leave. Keep everything clear and basic, allowing your product to do the talking.

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