Access Bank has been on acquisition spree in line with its expansion drive to become a truly pan-African financial powerhouse in the quest to tap into the opportunities provided by the Africa Continental Free Trade Agreement (AfCTA) by acquiring its third banking assets in eight months, having taken over Kenya’s Transnational Bank in July and Zambia-based Cavmont Bank in January. A statement from Access Bank said that it has paid about $60 million to purchase a controlling interest in South Africa’s 74-year-old Grobank, signaling the culmination of its aspiration to foray into Africa’s most industrialised nation and tap its market.
Access Bank Managing Director Herbert Wigwe
The move makes it Nigeria’s first bank to venture into South Africa ploughing in both equity and debt in Grobank as part of the grand plan to explore trade banking deals on its way to becoming “Africa’s Gateway to the World”, Managing Director Herbert Wigwe was recently quoted as saying.
It will open up the means to widen trade finance capacity in Grobank, which is presently increasing its attention on the country’s agriculture industry. No mention was made of the precise stake size but the lender said in a note in September “the first is an initial cash consideration for a 49 per cent shareholding, increasing to a majority stake in the second tranche”.
Banks in Nigeria are stepping up efforts to create new ways of bolstering earnings beyond its shores as a buffer to an economic downturn that has triggered a fall in government bond yields and accelerated the incidence of restructured loans, helped by the pandemic.
“We have a full retail banking licence in South Africa. We will pursue a wholesale banking franchise. We will pursue trade finance,” Mr Wigwe said.
The South African acquisition is its third in eight months, having taken over Kenya’s Transnational Bank in July and Zambia-based Cavmont Bank in January. It hopes to leverage the African Continental Free Trade Area agreement to enter Morocco, Algeria, Egypt, Ivory Coast, Senegal, Angola, Namibia and Ethiopia.
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
A window of opportunity has opened for renewable energy startups to tap into the African Enterprise Challenge Fund (AECF) which launched a US$1.2 million Innovation Fund to unlock the potential of renewable energy to create new business opportunities. Open to businesses and entrepreneurs in Burkina Faso, Ethiopia, Kenya, Liberia, Mali, Mozambique and Zimbabwe, the AECF fund is aimed at strengthening market readiness of emerging innovations, and securing financial, technical, and networking support for taking existing proven prototypes to scale.
Renewable Energy
Solutions that reduce the negative impacts associated with the use of traditional cooking options at the household and institutional levels, build climate change resilience among communities and support productive uses such as water pumping, agro-processing, cooling, and refrigeration services are examples of those that the fund seeks to support.
“The Innovation Fund is key to enhancing large scale transformation within local communities. Investing in affordable and accessible renewable energy solutions can create jobs, grow economies, and build more sustainable livelihoods. Through the fund, we hope to unearth new ways that renewable technology – be it domestic, communal, or commercial – can be used to generate income and create jobs,” said AECF chief executive officer (CEO) Victoria Sabula.
The deadline for applications is April 29.
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
Indications have emerged that the world’s largest professional networking site LinkedIn is testing a ‘social audio experience’ which would allow the app users to “connect with their community” across its network. Different to Clubhouse or other rivals being built by Facebook and Twitter, LinkedIn believes its audio networking feature will connect with users’ professional identity, “not just a social profile”.
LinkedIn Audio Chat
Spokesperson Suzi Owens said that “we’re seeing nearly 50% growth in conversations on LinkedIn reflected in stories, video shares, and posts on the platform, we’re doing some early tests to create a unique audio experience connected to your professional identity. Adding that LinkedIn is looking at how it can bring audio to other parts of the networking app such as events and groups, to give its members even more ways to connect to their community.”
She goes on to reveal that LinkedIn’s priority is to build a trusted community where people feel safe and can be productive. “Our members come to LinkedIn to have respectful and constructive conversations with real people and we’re focused on ensuring they have a safe environment to do just that.”
Clubhouse has become a wildly popular app across the world. The app collects content, communications, and other information that participants provide, including when you sign up for an account, create or share content, and message or communicate with others. To create and manage an account, a participant may provide personal data, including name, phone number, a photo, an email address, and a username. And the app temporarily records the audio in a room while the room is live.
Also, the data collected about the participants may also be given to third-parties, albeit for temporary use, but as the app has seen from high-profile incidents no one is insured against leaks.
Kaspersky researchers believe that the app can create a false sense of security, privacy, and closeness, in part because of how its registration works (it’s invitation-only at the moment). This creates several risks for the users, which are important to be aware of when using any public space on the Internet.
Alex Stamos, Director of the Stanford Internet Observatory (SIO) says users should assume all conversations are being recorded. “Clubhouse cannot provide any privacy promises for conversations held anywhere around the world.”
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
Adapting to new working practices presents an incredible opportunity (https://bit.ly/2O6wlrY) to assess and adjust our approach to sustainability. Changes don’t have to be extreme; they can include a range of small but effective actions such as embracing recycling and reusable materials, switching to more eco-friendly modes of manufacturing and reviewing transport or packaging best practice. Small wins across a wide range of areas can have a big impact.
Mai Youssef, Corporate Communications and Marketing Services Director – Canon Middle East and Canon Central and North Africa
Reduce, reuse, recycle
From separating the paper, plastic and cardboard used in the office, to reducing the use of disposable cutlery, sustainability initiatives often start with the little details first. One of those details needs to be equipment and technology decisions (https://bit.ly/2PGMDIK). The reason is obvious: technology – such as PCs, laptops, and smartphones – represented just 1 per cent of the world’s carbon footprint in 2007. Today, that’s already tripled and is on its way to exceeding 14 per cent by 2040. Whilst technology is intrinsic to the modern business, there are still small – yet hugely beneficial – changes organisations can make to address one of the most serious problems for the environment.
For example, keeping a business phone for three years instead of two, or a laptop for six years instead of five, can make an impact on a company’s use of materials. If enterprises are doing this on a national scale, there will be less demand to create as many new devices each year, reducing the overall amount of raw materials mined to match this demand. When companies need new products, they can opt for remanufactured or refurbished equipment. (https://bit.ly/3rDuKYD). As well as being better for the environment, companies can save on average 30-50 per cent of the selling price compared to the same equipment that has been made new. Furthermore, thanks to ratings programmes and awards schemes, customers have greater visibility of brands and products that are less harmful to the environment.
Cut the commute
Greener ways of commuting to work each day – or not commuting at all – can also be beneficial. The average co-working space, for instance a communal office closer to home, can help generate carbon emission savings of 118 metric tonnes annually between now and 2029 . Prior to the pandemic, a select number of companies had introduced more flexible working policies – allowing people to work from home or cultivate a co-working space in an agile environment. Now, many companies support a mixture of remote and office working [6] – reducing carbon emissions while improving staff wellbeing.
Technology is making this all possible. With the right solutions and printing capabilities, workers can seamlessly transition between the office and their remote working environment. For example, before 2020, video conferencing had already become a staple in workplace communication, connecting colleagues around the world, but under pandemic working conditions its usage increased dramatically to facilitate everyday meetings that could not be done face-to-face.
Reap the benefits
With so many opportunities to meet sustainability goals through incremental steps, it’s important to remember why they will remain so valuable over the next decade. A report published in 2020 found that 80 percent of Europeans think big companies and industry are not doing enough to help the environment – suggesting that businesses who strive to make a positive difference can attract customers, while those who don’t may lose them.
Taking action on sustainability can also increase the chances of attracting and retaining talent. Some 26 per cent of UK workers said they would accept a lower salary to work for a sustainable organisation , while half of those surveyed said they would consider declining a job offer from a company with harmful practices. A 2020 survey on the opinions of millennials across 43 countries found that the proportion who thought ‘reducing its impact on the environment’ is something their employer is doing well (61 per cent) was 22 per cent higher among those who intend to stay in their jobs for five or more years compared than those expecting to move on fairly soon.
Sustainability for businesses today is less about ‘if’ and more about ‘how’. The good news is that by working on the details and making small changes, businesses can make a significant impact. All it takes is the first step forward.
Mai Youssef, Corporate Communications and Marketing Services Director – Canon Middle East and Canon Central and North Africa (www.Canon-CNA.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
Dakar-based Les Ateliers de Corinne (LADC), specialized in digital culinary marketing, organization of cooking workshops and cake design has landed investment fro WIC Gestion, manager of the WIC Capital fund.
“I am delighted with this partnership which reinforces the image and development potential of the brand. WIC Capital is an investor whose added value goes far beyond the capital it provides. Despite the impact of the COVID19 pandemic, WIC Capital has believed in us. This strong support will allow us to increase our production capacity to meet the demand but also to accelerate our growth,” Corinne Erambert, founder of Les Ateliers de Corinne said.
Here Is What You Need To Know
With the involvement of local individual investors and the Délégation Générale à l’Entreprenariat Rapide des Femmes et des Jeunes, WIC Capital invested in a combination of equity and quasi-equity (DER).
This is WIC Capital’s third investment in the area, bringing the total sum syndicated into Women Led SMEs to close to XOF 500 million CFAF (USD 900k).
WIC Capital’s investment will help the business grow by funding the purchase of professional equipment, the hiring of a professional staff, and the relocation of new facilities.
Why The Investor Invested
Launched in March 2019 by the Women’s Investment Club (WIC) Senegal, WIC Capital is the first investment fund that exclusively targets women-led businesses in Senegal and Ivory Coast. The Fund brings together local and international institutional and individual investors, who pool their resources to invest in micro and small women-owned enterprises (MSMEs) in Senegal and Ivory Coast. The Fund invests through a mixture of equity and quasi-equity in companies from all sectors, founded by women, owned or managed at least 50% by women, or with a management team predominantly female.
“We are pleased to support the development of a small business led by a young and dynamic entrepreneur, who has developed several activities in parallel. We believe that Les Ateliers de Corinne has the potential to become a key food brand in Senegal and West Africa. It is by enabling the development of this type of small and growing businesses that we will strengthen the African private sector, contributing to job creation, innovation and GDP growth. We are happy to invest in the food industry, particularly baking activities and digital marketing, two sectors that have been resilient to the COVID19 crisis. We are proud to navigate this period alongside Corinne,” WIC Gestion’s Ms. Évelyne Dioh SIMPA, Executive Director of the fund, said.
Corinne Erambert founded Les Ateliers de Corinne in 2014. She merged her love of cooking with her digital expertise to become one of Senegal’s top food influencers. Les Ateliers de Corinne also offers cooking workshops in addition to cake design.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions. He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance. He is also an award-winning writer
Curacel, a Lagos-based AI-powered platform for claims processing and fraud management in Africa has raised $450,000 in pre-seed funding which would help the company to achieve its aim of being Africa’s leading provider of embedded finance technology for insurance.
Curacel Co-founder and CEO, Henry Ifeanyi Mascot
“We are excited to have these investors on board and we are looking forward to partnering with them to drive our vision of improving insurance inclusion across Africa. At Curacel, we are uniquely positioned to safeguard livelihoods and increase the quality of life through our unique, market-leading products and services,” Curacel Co-founder and CEO, Henry Ifeanyi Mascot said.
Here Is What You Need To Know
This round of investment was led by Atlantica Ventures and Consonance with participation from Kepple Ventures and other African angel investors.
Curacel’s expansion across Africa will be aided by the latest funding.
Curacel also plans to launch Curacel Money, a cash advance programme that will make it easier for healthcare providers to access working capital to help them deal with financial difficulties.
Why The Investors Invested
Co-founded in 2019 by former Global Head — Technology, Media & Telecom Group at the IFC, Aniko Szigetvari, Atlantica Ventures is a VC based in Washington DC, United States. In January 29, it led a $20 million Series B round in Kenyan logistics startup Sendy. ‘‘We are searching for the next generation of African entrepreneurs,’’ the VC notes on its website. “We are investors that provide capital to early stage companies in addition to growth support, guided by our decades of experience and global relationships.’’
“The African insurance market represents a significant growth opportunity and we are delighted to be partnering with Curacel to drive growth in this sector. There is an opportunity to create an entirely new market of products and services here and we look forward to supporting the team to improve health outcomes across the continent,” said IK Kanu, Partner at Atlantica Ventures.
For its part, investor Consonance Investment Managers has been very active on the African startup scene. Headquatered in Mauritius, but operating from Lagos, its notable investments include its $2 million co-investment in Ethiopian edtech startup Gebeya; its $1 million participation in the Nigerian healthtech company Lifestore in February this year; its co-funding in another Nigerian startup VerifyMe. Other notable startups on its portfolio include MDaas Global; She Leads Africa; Curacel, among others.
“We believe the Curacel team has what it takes to be market leaders and we are excited to support them. They have a great product and we are delighted to be coming on board at this early stage,” Mobolaji Adeoye, Managing Partner at Consonance added.
Japanese VC Kepple Africa Ventures, active since 2019, has invested in car listing platform AutoChek, Kenya’s UTU Tech, among others.
Founded in 2017 by Henry Ifeanyi Mascot, Curacel’s AI-powered platform enables insurers to automate claims seamlessly and also track fraud, waste and abuse (FWA). AXA Mansard, Liberty Health, and Old Mutual are among the insurtech startup’s clients, as are more than 800 hospitals in Nigeria, Ghana, and Uganda. By the end of 2021, it aims to grow into ten new African countries. African insurers lose over $12 billion per year due to fraudulent, inefficient, and abusive claims.
Curacel’s flagship CLAIMS platform serves as a link between primary care hospitals and Africa’s insurance providers, using advanced artificial intelligence to ensure that insurance companies only fund claims for necessary services, drugs, and patient therapies.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions. He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance. He is also an award-winning writer
To expand into more countries and offer additional content and technology, Afriwise has raised $1.1 milliion. The Africa-focused legal publishing and technology platform received funding from Jacques Emsens and Christophe de Limburg Stirum. They are two investors from Belgium, the country where the company’s head office is located.
Steven De Backer, Afriwise’s founder
“We are still at the beginning of our journey, however, this announcement of a significant capital injection by European investors is a sign that people are seeing possibilities for Afriwise to become a very big company,” Steven De Backer, Afriwise’s founder, said.
“With regulators and legislators expressing a growing appetite for levying fines for companies not complying with local legislation and regulations — for example in the fields of data protection and corporate house-keeping — accessing quality legal information and counsel has never been more important for businesses,” he added.
The new investment will help the company expand into further countries, including Botswana, Ivory Coast and Ethiopia, as well as provide more in-depth content.
Afriwise has been around since the end of 2018 and was founded by Steven De Backer. The young company offers an online platform that brings together reference information on legislation, legal frameworks and the legal market in Africa, as well as information on companies and resources. Its clients are prestigious, such as Vodafone, DHL, MTN, the French logistics company Bolloré and the multinational healthcare company Roche.
De Backer ran a consulting firm called Afriwise Consult before founding Afriwise’s legaltech division. He has spent more than four years as co-head of Webber Wentzel’s Africa division and a partner in the firm’s Africa mining and energy projects practise in South Africa. De Backer was a senior associate at Freshfields Bruckhaus Deringer in Brussels before moving to Africa in 2004 with Mkono & Co Advocates in Tanzania and Burundi.
The company claims to be partnering with over 100 law firms around the continent to keep the legal advice available on its website up to date.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions. He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance. He is also an award-winning writer
Over a week ago, Jumia Technologies began selling nearly 9 million ADS (America Depositary Shares). The e-commerce group has completed the operation, which is the second of its kind since arriving on Wall Street. All the ADSs put on the market, ie 8,962,961, found buyers. This allowed Jumia to rake in $348.6 million.
Jumia co-CEO Sacha Poignonnec
Over the period that began its run on March 18, 2021, the company’s average price of an ADS was $ 38.90. This sale shows that Jumia has the confidence of a significant number of investors. This is despite the various hardships it has endured since its introduction and the fact that it is still not profitable.
Proceeds from this “at the market” offering, net of commissions and estimated expenses, are expected to be $ 341.2 million. The operation was led by Citigroup Global Markets.
Jumia intends to use the new funds for general purposes.
An American depositary share (ADS) is a non-US equity share that is owned by a US depositary bank and available for purchase by US investors. Individual shares are known as ADSs, whereas the entire issuance of shares by a foreign corporation is known as an American Depositary Receipt (ADR).
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions. He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance. He is also an award-winning writer
The Jack Ma Foundation’s flagship philanthropic program, Africa Business Heroes which is an annual award for 10 outstanding finalists with a share of a US$1.5 million grant is calling for applications for the year 2021. Now in its third year, the Africa’s Business Heroes (ABH) prize competition gives African entrepreneurs a unique platform to showcase their talent and grow their businesses; ABH, which is the Jack Ma Foundation’s flagship philanthropic program in Africa, annually awards 10 outstanding finalists with a share of a US$1.5 million grant; Applications are now open in English and French for “heroes” across all sectors and African countries, with special emphasis on those working to achieve the UN SDGs.
Africa Business Heroes
The “Africa’s Business Heroes” (ABH) prize competition (www.AfricaBusinessHeroes.org), the Jack Ma Foundation’s flagship philanthropic program spotlighting and celebrating Africa’s entrepreneurial talent, opened applications for its third annual edition.
Entrepreneurs from all 54 African countries, across every sector, age group, and gender will now be able to submit their applications, in either French or English, for a chance to compete for a spot among the Top 10 finalists. The central theme of this year’s competition, “It’s African Time”, is a bold call to action for all talented African entrepreneurs who are challenging stereotypes associated with “African time” through their businesses, to leverage the ABH prize to scale their efforts as well as share their stories of how they’ve driven change and solutions.
ABH is part of the Jack Ma Foundation’s long-term commitment to help support and foster an inclusive and strong Africa’s entrepreneurial ecosystem. ABH will recognize 100 African entrepreneurs over a ten-year period and allocate grant funding alongside training, mentoring and learning programmes, as well as access to a community of like-minded African business leaders.
At the grand finale later this year, ten finalists will take the stage to present their businesses and share their visions to an esteemed panel of judges, to win a share of the US$1.5 million grant. The journey to the Finale will include several rounds of rigorous evaluation panels, as well as access to a community of international leaders and innovators, industry experts, investors and accelerators, through a number of multi-disciplinary bootcamps and training sessions.
In 2020, the ten outstanding finalists (https://bit.ly/3wlDA0G) – half of whom were female – were selected from over 22,000 applicants across all 54 African nations. They represented eight African countries – Cameroon, Côte d’Ivoire, Ghana, Kenya, Nigeria, Senegal, Uganda, and Zimbabwe – and various industries including agriculture, fashion, education, healthcare, renewable energy, and financial services.
“I am proud to have been named the winner of the 2020 Africa’s Business Heroes prize. The competition was an incredible journey. 2020 was a challenging year that made us refocus from profitability to survival. I hope my win inspires Africans to believe that we have what it takes to make an impact, no matter where we are. The Prize is helping us scale our energy solution across East Africa, and we remain focused to change how Africa cooks, one kitchen at a time,” said Chebet Lesan, Founder and CEO at BrightGreen Renewable Energy.
The journeys of Chebet and her fellow finalists will be featured in the televised ABH show, which will air in four episodes across Africa and online, later this year. The show will give exclusive access to the 2020 edition, following the finalists as they go head to head in the pitch to the final judges. With the show, ABH hopes to provide a masterclass in entrepreneurship and inspire aspiring entrepreneurs, start-ups, and small businesses across Africa to pursue their business dreams. The 2019 documentary “Looking for Africa’s Heroes (https://bit.ly/3wjNTlZ)” featuring the first edition of ABH was recently shortlisted by global film festivals including RapidLion – The South African International Film Festival and AmDocs – the American Documentary and Animation Film Festival.
“As we open our third annual pitch competition, we want to recognize Africa’s extraordinary entrepreneurs, whose business ventures not only are successful and profitable but are generating a positive impact on their local communities. Despite the incredibly difficult conditions faced by entrepreneurs and small businesses around the world over the past year, Africa’s entrepreneurship has been experiencing an incredible upward trajectory, showing the magnitude of potential and opportunities yet to be seized. Therefore, Africa’s Business Heroes is excited to join forces with our partners to identify, spotlight and support even more passionate, innovative, and determined entrepreneurs across Africa.” said Jason Pau, Executive Director of International, Jack Ma Foundation.
Global leaders Graca Machel, Chair of the Graca Machel Trust Board and Ban Ki-moon, Former UN Secretary-General and Co-chair of the Ban Ki-moon Centre for Global Citizens serve on the ABH advisory board. In addition, Anita Erskine, UN SDG Advocate and Founder of the STEM Woman Project, will continue to serve as the official host of “Africa’s Business Heroes” program. This year, ABH will continue to work with its Anchor Partners across the continent – African Leadership Group (www.ALGroup.org), Ashesi (www.Ashesi.edu.gh), Dalberg (www.Dalberg.com), Janngo (www.Janngo.com), and RiseUp (www.RiseUp.co), with more to be announced in due course.
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
One of Africa’s leading fintech company, Accelerex Ghana has hit a new milestone, after being granted an enhanced Payment Service Provider (PSP) licence from the country’s central bank, Bank of Ghana (BoG), under the Payment Systems and Services Act, 2019 (Act 987). This makes Accelerex Ghana the only fintech organization currently within the enhanced PSP category that provides physical e-payment devices, merchant acquiring, and agency banking solutions in Ghana. The move followed on the heels of the ISO 27001:2013 and PCI-DSS certifications recently obtained by the company and will open the Ghanaian market to more electronic payment and transaction possibilities across different platforms and channels.
Chief Executive Officer and Managing Director of Accelerex Ghana, Sebastian Yalley
According to the Chief Executive Officer and Managing Director of Accelerex Ghana, Sebastian Yalley, “through our continuous product innovation and impeccable attention to customer needs, the company has gradually emerged as the financial technology company of choice for Ghanaian businesses.” He further stated that, “at Accelerex, standardization and compliance remain the bedrock of our operations across all subsidiaries in Africa. We believe that having this licence from the Bank of Ghana is a demonstration of our commitment to the Ghanaian market, and serves as the foundation for rolling out simple, secure, and convenient e-payment and digital transaction solutions for all customer segments. We intend to use this as a leverage to deepen our existing relationships with our bank clients. In that same spirit of collaboration, we are open to working with other fintech companies to deliver superior value to customers.”
Buoyed by this major milestone which permits the company to offer electronic payment platforms and applications, agency banking, merchant payment collections, payment terminal management and terminal aggregator management systems, Accelerex Ghana is eyeing the retail segment with its new revolutionary products – RexPay and RexRetail, set to launch in Q2 of 2021. These products will help the company deepen its footprints in Ghana and cement its position as a leader in the e-payment space.
RexPay is an online payment gateway that helps social media sellers and corporate organizations receive payments in a fast, convenient and secure manner, even without owning a website. Customers enjoy multiple payment options and can make payments seamlessly wherever they are. Sellers can sign up easily to the RexPay platform in less than five minutes, then begin to receive payments instantly.
RexRetail, an all-in-one solution for small and medium-sized retail shops, helps retailers automate their everyday operations. It is a superb tool for inventory management, customer relationship management and seamless accounting. More importantly, RexRetail supports business owners with a reporting and analytics tool that helps them keep track of the performance of their business. A member of the Accelerex Holdings Group, with footprints in Nigeria and Kenya, Accelerex Ghana commenced operations in the country in 2019 as a financial technology company offering offline and online payment services to its target markets. Its parent company, Accelerex Holdings, recently secured a US$20million investment from African Capital Alliance to drive new product development and expand to South Africa, Cote d’Ivoire and Tanzania.
Accelerex Ghana has a strong bias for innovation, world-class technology and excellent customer service. It intends to extend availability of its products and services to different categories of businesses in Ghana with the aim of spreading accessibility of financial technology and digital payments. Visit www.GlobalAccelerex.com.gh for more information.
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
