Core DAO Launches $5 Million African Innovation Fund to Boost Web3 Projects Across the Continent

In a significant stride towards fostering innovation in the African blockchain ecosystem, Core DAO has announced the launch of the African Innovation Fund, a groundbreaking initiative set to provide a $5 million war chest to supercharge Web3 projects across the continent.

Web3 enthusiasts and innovative builders in Africa are invited to seize this opportunity, as Core DAO aims to support and elevate local projects by addressing challenges such as funding constraints, lack of technical resources, and limited access to localised data and insights.

African Blockchain Landscape Gains Momentum

The African continent is emerging as a key player in the global crypto landscape, with Sub-Saharan Africa recording an estimated $117.1 billion on-chain transaction volume between July 2022 and June 2023, according to Chainalysis’ 2023 Geography of Cryptocurrency report. This surge in blockchain activity is fueled by the continent’s young and tech-savvy demographic, combined with increasing internet access, creating an ideal environment for blockchain adoption.

Driven by a desire to address local challenges, African developers are utilizing blockchain technology to create solutions in areas such as cross-border payments, supply chain management, and financial inclusion. This surge in innovation highlights the potential of the blockchain industry to make a meaningful impact on the continent.

Challenges and Opportunities for African Web3 Builders

Despite the growth in blockchain innovations, African Web3 builders face challenges in onboarding the next billion people into the Web3 space. These challenges include a lack of access to funding, technical resources, and high-level localised data and insights. To overcome these hurdles, builders are actively seeking solutions to facilitate a smoother onboarding process into the Web3 industry.

Core African Innovation Fund: Addressing Challenges Head-On

In response to these challenges, Core DAO has established the Core African Innovation Fund, adopting a long-term, user-friendly, and sustainable approach. The fund aims to provide support in the form of grants, technical resources, builder programs, partnerships with accelerators and institutions, connections to venture capitalists, and potential investments. Notably, the fund will focus exclusively on local projects that demonstrate a strong commitment to delivering tangible value to their communities.

The initiative goes beyond financial support, aiming to connect key builders with established blockchain players, including venture capitalists, to empower the next generation of decentralized applications and protocols. The strategic partnerships forged through the fund seek to create a more decentralized and interconnected future for the African blockchain ecosystem, ensuring the promotion of long-term success and playing a pivotal role in driving innovation and growth.

Calling All Builders: CoreDAO’s Commitment to the African Web3 Space

CoreDAO is actively seeking to support projects in various sectors, including gaming, stablecoins, cross-border payments, supply chain, real estate, DeFi-backed loans, credit rating systems, decentralized database/file storage, healthcare, NFTs, and more. The Core African Innovation Fund is positioned as a driving force aligned with Core’s long-term vision, aiming to unlock the full potential of decentralized projects in the African blockchain space.

Core Chain’s Unique Position in Web3 Development

Core Chain, as a leading Layer 1, stands at the intersection of Bitcoin’s principles and Ethereum’s composability. This unique fusion positions Core Chain as a first-of-its-kind “Bitcoin-aligned” chain, offering a platform deeply rooted in the early visions of Web3 from 2008. With a commitment to decentralization, scalability, and security, Core Chain is actively contributing to making Web3’s mass adoption a reality.

The Core African Innovation Fund signifies a positive development for the African blockchain industry, serving as a catalyst to propel the next generation of builders to success. As the continent embraces its role in the global blockchain landscape, initiatives like these play a crucial role in nurturing local talent and driving sustainable growth within the African Web3 ecosystem.

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.  As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard.

‘A Failed Gamble’: Peter Njonjo’s Abrupt Exit from Twiga Raises Questions About Corporate Leadership in African Startups

Peter Njonjo, co-founder of Twiga

In a surprising turn of events, former CEO Peter Njonjo’s sudden departure from Twiga Foods, a prominent African agritech startup, has left investors and industry observers questioning the viability of integrating corporate expertise into the fast-paced world of startups. Njonjo, celebrated for his extensive corporate experience at Coca Cola Company, was initially brought in with high expectations of steering Twiga towards unprecedented growth and institutionalization.

Twiga Foods, a major player in Kenya’s informal retail e-commerce sector, had successfully attracted significant investments, boasting a funding portfolio running into millions of dollars. Under founder Grant Brooke’s leadership, the company had ambitious plans to revolutionize traditional supply chains in the informal retail market, leveraging the red-hot venture capital-backed agritech ecosystem.

Njonjo’s appointment was viewed as a strategic move to infuse Twiga with corporate know-how, aiming to scale the company rapidly. Grant Brooke justified the decision by highlighting Njonjo’s successful track record at Coca Cola, where he led the multinational’s West and Central Africa business unit for over two decades. The goal was to leverage Njonjo’s proficiency in managing large institutions to streamline Twiga’s operations and solidify its market position.

However, the grand narrative took an unexpected turn when Njonjo, after a brief and intense tenure at Twiga, decided to step down. The question now looming over the startup ecosystem is whether the attempt to blend corporate prowess with the agility required for startup growth has backfired.

Adding complexity to the unfolding narrative, Njonjo’s recent public remarks about finding his “raison d’etre” and pursuing entrepreneurial ventures have raised eyebrows. His personal investment in the Galana Kulalu Food Security project, a deviation from Twiga’s core business, has fueled speculation about the real motivations behind his involvement with the startup.

Observers sampled by Afrikan Heroes are expressing a certain degree of disillusionment, questioning the effectiveness of bringing in a seasoned corporate executive to navigate the unpredictable waters of a startup. Njonjo’s tenure, intended to usher in a new chapter of growth and stability, now appears to have concluded in what some industry insiders are referring to as a “failed experiment.”

The abruptness of Njonjo’s exit has left Twiga at a crossroads, with industry stakeholders seeking reassurance and clarity about the company’s future trajectory. The inherent risks associated with merging corporate leadership with the dynamic nature of startup ecosystems now seem glaringly apparent, prompting a reevaluation of whether this approach is conducive to the fast-paced and unpredictable world of technology-driven ventures.

Njonjo’s departure comes at a critical juncture for Twiga, with the startup grappling with the need to reassure stakeholders and chart a clear path forward. As the startup ecosystem reflects on this development, the case of Twiga Foods serves as a cautionary tale about the potential challenges and pitfalls of incorporating corporate expertise into the unique dynamics of startups.

Liberia Swears in Joseph Nyuma Boakai as 26th President

President Joseph Nyuma Boakai

His Excellency, Joseph Nyuma Boakai has been sworn in as Liberia’s 26th President at an Inauguration Ceremony on the grounds of the National Legislature of Liberia. Administering the Oath of Office in keeping with Article 53 of the Constitution of Liberia, the Chief Justice of the Supreme Court of Liberia challenged the President to perform his duties within the confines of the laws of the Republic of Liberia.

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Attending the occasion were President Nana Addo Dankwa Akufo-Addo of the Republic of Ghana, President Julius Maada Bio of Sierra Leone, and a high-power American delegation headed by Linda Thomas Greenfield, Ambassador of the United States to the United Nations and Special Envoy of President Joseph R. Biden. In attendance also was a delegation from the Peoples’ Republic of China headed by the Vice Chairman of the China Peoples’ Political, Consultative Conference, CPPCC. There were representatives from nations and international organizations.

President Joseph Nyuma Boakai
President Joseph Nyuma Boakai

Addressing the nation, the President ‘promised to restore the years the locust has eaten’ by working to restore dignity and integrity to the public service of Liberia.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Morocco’s Crealo Secures $1.42 Million in Seed Funding to Revolutionize Copyright Management

In a positive development for Morocco’s startup ecosystem, Crealo, a Morocco-based copyright-management platform, has successfully raised $1.42 million in Seed funding. This funding round was led by the 212Founders programme, operating under CDG Invest, and witnessed participation from prominent investors such as Kima Ventures, Evolem, Super Capital, and several angel investors.

Founded in 2021 by Mohammed Belghiti and Najlae Zeitouni, Crealo has quickly emerged as a trailblazer in the field of copyright management. The platform provides cultural and creative institutions with an online solution to efficiently manage copyrighted material. Notable users of Crealo’s platform include prestigious institutions like Palais de Tokyo, Beaux Arts Magazine, and more.

The $1.42 million infusion of capital is poised to propel Crealo to new heights, allowing the company to enhance the quality of its product, forge strategic partnerships, and expand its workforce. This strategic investment marks a significant milestone for Crealo and is set to solidify its position as a leading player in the copyright management space.

The 212Founders programme, operating under CDG Invest, played a pivotal role in this funding round, injecting a substantial 4.9 million dirhams into Crealo. This move underscores the programme’s commitment to fostering entrepreneurship and driving economic sophistication in Morocco. Since its inception in 2019, the 212Founders programme has successfully executed 18 financings, accumulating an impressive 97 million dirhams in the process.

Crealo, as the first European solution dedicated to comprehensively addressing copyright issues in the cultural and creative industries, stands out for its innovative approach. The platform caters to organizations of varying sizes, offering a sophisticated and user-friendly system that streamlines and automates the entire process of copyright royalty management in France.

Najlae Zeitouni, Co-founder and CEO of Crealo, highlighted the company’s commitment to simplifying royalty payments, drawing parallels with the ease of salary disbursements. Crealo’s platform allows publishing houses to calculate and disburse royalties with unprecedented ease and efficiency, enabling clients to transition from annual to more frequent settlements.

Nawfal Fassi Fihri, Director of the 212Founders programme, expressed enthusiasm about welcoming Crealo into the fold of Moroccan entrepreneurial successes. He commended the robust technological solution that Crealo brings to the market, emphasizing the startup’s promising prospects in revolutionizing the management of copyright royalties.

With this substantial Seed funding, Crealo is poised to accelerate its growth trajectory, ushering in a new era of efficiency and innovation in the realm of copyright management.

$11M EPF Tech Fund Opens to African Startups

Empire Partner Foundation’s (EPF) Tech Fund, led by CEO Jacqueline Govender, has announced the launch of an $11 million (R200 million) Exchange-Traded Fund (ETF) aimed at fostering innovation and supporting young entrepreneurs across Africa. The fund, which initially focused on South Africa, is now expanding its reach to identify and invest in high-growth digital startups addressing critical challenges in various sectors.

In an exclusive interview with ITWeb Africa, Jacqueline Govender emphasized the fund’s commitment to actively engaging with portfolio firms and potential investors. The EPF Tech Fund aims to tackle difficulties in areas such as accommodation, education, financial inclusion, rural and community development. Govender stated, “We’re now also expanding our geographic reach beyond South Africa.”

The expansion comes at a crucial time for African startups facing a funding freeze, as reported by global research firm Infomineo. Startups in Africa received $3.4 billion in funding in 2023, marking a 32% decline from the over $5 billion recorded in 2022, with equity funding experiencing a significant 60% reduction.

To address the funding challenges faced by entrepreneurs in Africa, the EPF Tech Fund is raising an additional $4.2 million (R80 million). Govender revealed that this capital injection will specifically target students and graduates developing technology solutions with the potential for a significant impact.

To be eligible for support from the EPF Tech Fund, startups must have locally built digital solutions, be led by young people, and demonstrate scalability across multiple African countries. Govender emphasized that artificial intelligence (AI) is a key focus for the fund, stating, “Every portfolio firm must achieve the basic criteria of adopting AI into its operations.”

“We see enormous potential in AI-powered solutions that address social concerns, such as education, climate change, unemployment, poverty, and access to healthcare,” Govender added. The EPF Tech Fund is actively seeking firms that utilize AI for sustainable livelihoods, financial inclusion tools, and data-driven healthcare and environmental, social, and governance (ESG) systems.

In explaining the genesis of the EPF Tech Fund, Govender highlighted the identification of a gap in the venture capital market. The fund was initially created to support breakthrough tech businesses solving social concerns across the African continent. Investors in the fund are organizations dedicated to “future proofing Africa” by investing in youth-led technology solutions that can scale across the continent.

Unlike traditional venture capitalists, the EPF Tech Fund evaluates firms not only based on financial returns but also on their ability to provide verifiable social and environmental benefits. Jacqueline Govender stressed, “Beyond a sustainable business, we look at how a venture improves people’s lives and connects with our impact areas.”

The fund supports its portfolio companies with mentorship, market access, and impact measurement tools. EPF Tech Fund’s investments typically range from R5 million to R20 million, with a focus on angel, pre-seed, and seed stages. Govender concluded, “Our main points are effect, purpose, and possibility. We believe in developing promising ideas in their early phases and guiding them through the key early growth phase.”

EPF Fund EPF Fund

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.  As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard.

Tough economic headwinds provide exciting opportunities for agile, customer-centric fintechs

Andy Jury, CEO at Mukuru

By Andy Jury

At this time of the year there is usually a flurry of articles attempting to lay out trends to look out for in various industries over the coming months. This is a good exercise as it gets one thinking about industries broadly and technology specifically. However, it would be remiss to embark on this exercise without first taking stock of where we are now. The fintech ecosystem is currently in a period of stress, less so for incumbents but noticeably for newcomers.

This stress is a direct result of macroeconomic pressures piling up to generate headwinds for new market entrants. As we all know, when the macro picture is less than rosy it affects play out on the ground. In summary, there is less money floating around – less money from investors and most notably, less disposable income in the hands of consumers.

Let’s take a moment to appreciate how this looks in the broader African context. Firstly, it means there is significantly less money knocking on the doors of new and innovative businesses that need investors.

Andy Jury, CEO at Mukuru
Andy Jury, CEO at Mukuru

Just recently, a payments processor headquartered in France lost 53% of its value – this kind of scenario has a knock-on effect across borders. However, there is a massive opportunity for fintechs that have bootstrapped themselves up in the uniquely African context.

Read also : Egypt’s Paymob Becomes First International Fintech Company to Obtain Full Payment License in Oman

What does this opportunity look like? For starters, there continues to be a great deal of disruption in the market. Fintechs, mobile network operators (MNOs) and banks will approach the challenges and opportunities differently. The ones that emerge from this phase in a strong position will be those that have thought about the economics of their proposition carefully, because the opportunity that presents itself in tough times is likely more scalable from an addressable market perspective.

On the other hand, those who react will focus on price. A war on price is a race to the bottom. On the contrary, the businesses and fintechs that get through the tough times will be those that focus on customer experience (CX). It may be considered an intangible that sits between the bricks and cogs of a business, but it is crucial.

In difficult conditions, every business focuses on customers returning and using their products and services more frequently. This isn’t easy, or everyone would be getting it right. Customers with less money in their pockets become more discerning, and in our experience are looking for a full basket of genuinely personalised customer experience where affordability is a crucial component, but most certainly not the only one.

We have learnt that speed, access, trust, convenience and safety in the payments space continue to be exceptionally important drivers in customers’ decision making on where to spend their hard-earned money. At Mukuru we build very tight feedback loops with our customers and the feedback we get time and time again is speed, ease of use and safety is primary to how they develop their consideration set.

Looking ahead, regulation will continue to play an important role in how the industry evolves. The FATF’s greylisting earlier this year has had a significant impact on businesses such as ours. We are under increasing scrutiny, not because anyone thinks we present any more risk than before, but because accountable institutions must demonstrate that they are confident money isn’t being laundered or used for nefarious purposes. The result is that fintechs need to spend more time thinking and planning their products and must be tight in terms of the relationships they build with their customers.

Read also : Fintech Startups in Tunisia Now Need Approval from Central Bank of Tunisia to Partner with Local Banks

Regulation is also expected to present immense opportunities, especially in Southern Africa. South Africa, for example, lags other regions in the realm of mobile money. Legislation which is expected to come into play in 2025 will effectively form the framework within which e-money capabilities will be governed. This moment will be a significant game changer for the region. The ability for more people to use e-wallets more frictionlessly will add immense value in the South African context and will fundamentally change the landscape of how money is stored, used and moved.

Looking toward this big disruption on our doorstep, businesses will approach the opportunity differently. There will be those who throw mud at the wall and see what sticks, whereas we believe the real winners will be those that remain crisp and precise with their customer propositions. In this context, we believe partnerships will be vital for stability and growth, where partners enter mutually beneficial symbiotic relationships. These can take many shapes and forms, such as payment providers bridging the gap between the informal and formal sectors solving a problem for fintechs who need ways to enable their customers to pay for goods and services, and where the payment provider gets access to millions of previously unreachable customers.

Digitisation and diversification will continue to be important trends in the coming months and years. Take a moment to consider the power that MNOs and banks have traditionally exerted in the formal payments ecosystem – fintechs who are agile can enter into partnerships with other fintechs to offer similar one-stop solutions to those currently offered by the MNOs and banks. This trend will see an equalisation of influence.

Lastly, those that prioritise customer needs and wants will emerge stronger. There are two schools of thought on how you digitise money. The first is that you place a wallet in someone’s hands and encourage them to use it. This would be the traditional approach. The Mukuru approach, and certainly the approach of the more agile players, is to find a way to help people with their payment and remittance needs and then graduate them towards using a digital store of value as they develop trust in the brand and the technology.

Read also : Egypt’s Paymob Becomes First International Fintech Company to Obtain Full Payment License in Oman

These are divergent approaches, but in difficult economic conditions our experience – which has seen us sign up 14-million customers across many countries – says it is better to listen to what customers want and then walk a journey with them as they become more sophisticated in their digital journeys. Our approach is to solve a problem and then gradually build trust and extend the services and products we offer, as opposed to building a shiny product and waiting for customers to arrive.

Andy Jury, CEO at Mukuru (www.Mukuru.com)

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Morocco’s Wanaut Secures Funding to Boost the Leisure Sector

In a rapidly evolving sector, Moroccan startup Wanaut stands out with a significant milestone — a successful fundraising campaign securing 2 million dirhams (USD 201,000)

The funding comes from Augustulus Ventures, a Moroccan private fund specializing in new technologies and innovation. This collaboration marks a decisive turning point for Wanaut, a company founded in 2019 by a group of Franco-Moroccan entrepreneurs with diverse skills, including engineering, finance, and marketing.

The primary objective of this fundraising effort is clear: to inject new energy into the leisure sector. To achieve this, Wanaut offers a comprehensive platform for experience creators. The platform includes various features such as a detailed dashboard, a user-friendly reservation management system, a customizable form creation module, as well as payment and billing tools, simplifying the daily operations for users.

Wanaut’s ambition goes beyond these features. The company aims to establish a complete ecosystem for the leisure industry, positioning itself as a preferred partner for experience creators and event organizers. Its primary mission is to provide integrated solutions, enabling clients to fully unleash their potential. Additionally, Wanaut aims to offer users the opportunity to discover, book, and share unique experiences in various destinations.

To support its development, Wanaut benefits from the guidance of recognized structures. It is notably supported by Kluster CFCIM, an incubator of the French Chamber of Commerce and Industry in Morocco, as well as Accelab, a startup accelerator specializing in the sports and tourism sectors. These collaborations contribute to Wanaut’s efforts in shaping the future of the leisure industry in Morocco and beyond.

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.  As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard.

Egyptian Edtech Edura Poised for Growth After Pre-Seed Funding Round

Egypt-based Edtech, Edura, has successfully concluded an undisclosed pre-seed funding round, spearheaded by Smart Zone Startups Studio and supported by angel investors. The funding will propel Edura’s mission to revolutionize education by connecting teachers and students through interactive lessons, offering a blend of traditional and modern learning methods.

Founded in 2021 by visionary entrepreneur Osama Abdelwahed, Edura has quickly gained traction as a pioneering educational platform. It facilitates a dynamic exchange between educators and learners through live or recorded interactive lessons, coupled with innovative features such as online assessments and recorded student evaluations.

Edura’s commitment to safeguarding the intellectual property of educators while delivering a superior learning experience has set it apart in the competitive Edtech landscape. The platform caters to a diverse range of educational levels, serving over 190,000 students and hosting more than 10,000 events, exams, and activities.

Eng. Osama Abdelwahed, Co-founder and CEO of Edura, emphasized the platform’s role in addressing the challenges posed by the COVID-19 pandemic. “The education sector underwent a transformative shift in 2020, and Edura emerged to bridge the gap between traditional and modern teaching methods. We provide an interactive environment that fosters connections between students and teachers, ensuring a professional and high-quality educational experience. Our goal is to equip teachers with the necessary tools to replicate real-world lectures within virtual classrooms.”

The undisclosed pre-seed funding round signifies a pivotal moment in Edura’s journey. The capital injection will be instrumental in expanding the platform’s capabilities, strengthening its operational infrastructure, and fostering research and innovation in educational technology.

Edura has already made substantial strides, delivering over 7,000 educational lectures in 2023 with the collaboration of more than 2,400 registered teachers on its platform. The funding will empower the company to reach even greater heights, investing in the enhancement of its customer base and forging strategic partnerships.

As Edura sets its sights on the future, the company aims to solidify its position as a leading force in the Edtech space, creating a lasting impact on the educational landscape in Egypt and beyond.

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.  As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard.

Kenya’s Shamba Pride Secures $3.7M Funding to Revolutionize Agri-Distribution in Kenya

Shamba Pride recently secured a $3.7 million debt-equity pre-series A funding to bolster its efforts in enhancing last-mile distribution for farm inputs in Kenya. The investment was facilitated by the EU agriculture financing initiative EDFI AgriFI and Seedstars Africa Ventures (SAV), comprising $1.7 million in equity. Notably, this funding follows a prior capital infusion of $1.1 million in 2021 from SAV and Gray Matters Capital.

The agtech, founded in 2016, has amassed a network of 2,700 merchants, known as digishops, spread across 24 counties in Kenya, covering over half of the country. The primary goal of this funding is to further expand Shamba Pride’s presence in Kenya, including an expansion of its franchise network. Additionally, the company aims to address farm input supply chain challenges, such as sourcing, unpredictable prices, quality issues, and stockouts, by venturing into neighboring markets like Tanzania, Uganda, and Zambia.

Shamba Pride’s innovative approach involves digitizing agro-dealers, empowering them with tools for business management and inventory ordering. This, in turn, ensures a consistent supply of crucial agricultural inputs, such as fertilizers and seeds, to millions of small-scale farmers in rural areas. The agtech’s focus on empowering agro-dealers aligns with its mission to provide visibility, professional development, and adequate support to these key players in the agricultural distribution chain. Moreover, Shamba Pride plays a pivotal role in the agriculture sector, contributing to 33% of Kenya’s GDP and employing over 40% of the population, particularly in rural areas.

Why the Investors Invested

The decision of EDFI AgriFI and SAV to invest $3.7 million in Shamba Pride stems from the agtech’s impactful initiatives and potential for addressing critical challenges in the agricultural sector. The fact that SAV is a sector-agnostic fund, specifically focused on startups addressing basic needs and enhancing goods and services, underscores the strategic alignment with Shamba Pride’s mission.

Shamba Pride’s success is rooted in its ability to empower agro-dealers through digital tools, contributing to the professional and commercial development of these vital stakeholders. The agtech’s model not only facilitates day-to-day farming activities but also creates additional revenues for farmers and agrovets, significantly contributing to successful women entrepreneurship in the sector. The investors recognize the scalability of Shamba Pride’s model and its potential to bring positive changes to the agriculture value chain, addressing issues related to accessibility, quality, and financial services for farmers.

A Look at Shamba Pride:

Founded in 2016, Shamba Pride focuses on enhancing last-mile distribution for farm inputs, combating price exploitation, and addressing quality issues for farmers in Kenya. The agtech has built a robust network of 2,700 merchants across 24 counties, covering over half of Kenya. Shamba Pride’s primary markets include small-scale farmers in the agriculture sector, constituting 33% of the country’s GDP and employing over 40% of the population, particularly in rural settings.

The startup plays a pivotal role in digitizing agro-dealers, providing them with tools for business management and inventory ordering. This ensures the availability of vital supplies like fertilizers and seeds to millions of small-scale farmers in rural areas. Shamba Pride’s commitment extends to offering market linkages, Buy Now Pay Later (BNPL) financial services, and training information through its USSD platform. Additionally, the company sources inventory from partners like the French multinational Elephant Verve, focusing on “climate-smart” farm inputs to build resilience for small-holder farmers. The successful integration of these strategies positions Shamba Pride as a key player in revolutionizing agricultural distribution and supporting the economic growth of the sector.

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.  As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard.

Ethiopian Teachers Harness Power of Chinese Language to Bridge Cultures

Ethiopian Teachers Harness Power of Chinese Language

In the bustling classrooms of special boarding schools across Ethiopia’s Oromia region, local Chinese language teachers are engaged in an exciting educational journey, harnessing the power of language to bridge cultures.

Fitsum Mussa, who studied Chinese language at Dalian University in China, is one of the pioneer local Chinese language teachers playing a pivotal role in shaping the future of their students while fostering stronger cultural connections between Ethiopia and China.

Over the past two years, Mussa has taught Chinese to more than 250 students at Arsi Special Boarding School, one of nine special secondary schools in the Oromia region. Here, students voluntarily choose from Chinese, Arabic and French, in addition to English, as their preferred foreign language studies.

“I remember the innovative ways that our Chinese teachers used to boost our interaction and learning capabilities during our early days learning the language. The first steps were relatively difficult until we were eventually able to better interact and communicate with our teachers,” Mussa recalled. “Now, these school children are learning Chinese with the help of their mother tongue, Afan Oromo. This makes the teaching-learning process much easier for them, and I find it significantly constructive for their language acquisition.”

Read also : African Development Bank Invests $10.5 Million in Seedstars Africa Ventures to Boost Innovation and Economic Growth

Courtesy of deepening Sino-Ethiopian ties, interest in studying the Chinese language is growing fast among Ethiopians, particularly the country’s youth.

Seyoum Kebede, head of the special schools development division at the Oromia education bureau, said the Chinese language is the most desired language among students, with over 1,230 secondary school students choosing Chinese as their preferred foreign language study.


Ethiopian Teachers Harness Power of Chinese Language

“Our Ethiopian Chinese language teachers, who have mastered the language with the help of Chinese instructors, are tapping into their unique understanding of both Ethiopian and Chinese culture to make the teaching and learning process more effective and interesting for our students,” Kebede said.

These teachers not only possess a deep understanding of Ethiopian culture but also have insight into the nuances of the Chinese language and culture, making them effective conduits for communication and cultural exchange.

The Confucius Institute at Addis Ababa University (AAU) has been instrumental in enhancing the capacity of Ethiopian Chinese language teachers. Through a series of training sessions, the institute has equipped the teachers with the necessary skills to teach Chinese properly.

Read also : Fintech Startups in Tunisia Now Need Approval from Central Bank of Tunisia to Partner with Local Banks

A four-day training program, starting Wednesday, is held at AAU to promote the local teachers’ capabilities in mastering the four important aspects of teaching Chinese: grammar, phonetics, vocabulary and characters, according to Gao Lili, the director of the Confucius Institute at AAU.

“We are helping local schools to improve their teaching quality while maintaining a balance between their teachers’ language proficiency and effective pedagogy,” Gao said.

A significant milestone in maintaining the balance between teachers’ language proficiency and pedagogy is the recent introduction of the first-ever local Chinese language textbook, dubbed “Hello, Chinese,” featuring Chinese-Amharic and Chinese-Afan Oromo languages.

Derartu Tesfaye, a teacher at Ambo Special Boarding School, reflects on the effectiveness of using local languages to facilitate teaching Chinese.

“Using local elements significantly made my teaching endeavor much more convenient, and it helped my students easily grasp the subject,” said Tesfaye, one of the 10 teachers participating in the training program at AAU.

Tesfaye’s assertion was also shared by Mussa as he recalled a phenomenon that highlighted the unique significance of harnessing local Ethiopian languages and culture in teaching Chinese.

“I remember when I was learning the Chinese language, it almost took me three months to learn the phonetics. To my surprise, my students were able to accomplish this task in about a month,” Mussa said.

The impact of these efforts is also evident in students’ remarkable achievements.

Gurmessa Getachew, who has been teaching Chinese to some 286 students at Ambo Special Boarding School during the past two years, proudly said that 282 of his students passed their first and second-level Chinese Proficiency Test, Hanyu Shuiping Kaoshi (HSK), setting a profound acclaim to Getachew’s teaching endeavor.

REad also : Group Commits $3 Billion Investment to Boost African Agriculture and Food Production

With their newfound Chinese language skills, students of the special boarding schools are also opening doors to a world of opportunities.

Kebede said that learning the Chinese language “opens a window of opportunity for students to realize their dreams through abundant scholarship opportunities to pursue their education in China.”

These Ethiopian Chinese language teachers are not only shaping the linguistic abilities of their students but also forging stronger bonds between Ethiopia and China, paving the way for a brighter future of cultural understanding and collaboration.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry