African Tech News Blitz: August 2024 Edition

Welcome to Tech News Blitz! This August, we're spotlighting Africa's latest tech innovations and developments. Discover pioneering parcel delivery solutions, groundbreaking cross-border payment systems, and more. We're also counting down to the Value Creation Challenge finale this September, where 12 startups will pitch their innovations. Continue reading for more on the African tech landscape.?

Revolutionizing Parcel Delivery: POTRAZ's ICT Innovation Expo

From September 4th to 6th, Harare will be the epicenter of technological innovation as the Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ) hosts its highly anticipated ICT Innovation Expo. This event is a golden opportunity for technopreneurs, tech companies, researchers, and innovators to showcase their groundbreaking ideas. POTRAZ has called on start-ups to apply via social media, urging them to develop cutting-edge parcel delivery technologies. Competing teams will strive to design practical solutions that promise to revolutionize efficiency and customer experience in Zimbabwe's postal and courier services.?

China to Boost Clean Tech Exports to Africa

This week, Beijing will host a summit with 50 African nations, urging them to import more Chinese goods like electric vehicles and solar panels. In exchange for purchasing its clean energy technologies, China pledges to increase loans and investments across the continent. However, African leaders may demand updates on China's unfulfilled 2021 pledge to buy $300 billion of goods and seek progress on incomplete infrastructure projects, such as the East African railway. The summit aims to strengthen economic ties before Western export restrictions take effect.

Value Creation Challenge: The Final Stroke

This September, the Value Creation Challenge reaches its climax as the top 12 startups prepare to pitch and demonstrate their innovative solutions on pitch and demo days! VCC is an Eight2Five Innovation Hub initiative, powered by Old Mutual and its partners, the British Council and the British Embassy.? The program has been an intensive journey of creativity, resilience, and innovation, empowering startups to refine their concepts, validate their business models, and accelerate their growth. With mentorship and training from industry experts, these startups have been equipped to better position their businesses. As we build up to the grand finale, Follow Eight2Five Innovation Hub on social media for real-time updates, and behind-the-scenes insights.?

Africa’s e-commerce boom goes multi-vertical?

E-commerce in Africa is experiencing significant growth and transformation. Recently, Wasoko and MaxAB, two of the continent's largest B2B e-commerce platforms, completed an all-stock merger, creating a multi-vertical ecosystem with unparalleled reach and capabilities. By combining forces, they aim to expand their presence and offerings, tapping into the vast potential of Africa's informal retail market approximately worth $600 billion. Meanwhile, Jumia, Africa's leading e-commerce company, seeks to raise over $100 million by selling 20 million American depositary shares, aiming to drive user growth and expansion. These developments demonstrate the increasing maturity and attractiveness of Africa's e-commerce landscape, driven by rising demand, improved infrastructure, and innovative business models.

Fidelity Send: Revolutionizing Africa’s Cross-Border Payments

Fidelity Send, a groundbreaking initiative by Fidelity Bank Plc and Mastercard, promises to revolutionize cross-border payments and remittances in Nigeria. By leveraging Mastercard’s extensive global network, Fidelity Send ensures near-real-time and cost-effective outbound transactions, significantly enhancing financial inclusion across the continent. With faster, more reliable, and transparent transactions, Fidelity Send addresses the challenges of limited banking infrastructure, high fees, and long processing times. For individuals and businesses, this means seamless access to international funds, lower fees, no landing fees, and guaranteed funds delivery. Fidelity Send is set to transform the financial landscape, aligning perfectly with the evolving needs of customers and opening new opportunities for economic growth and development in Africa.

Heifer International Backs Young Innovators at Africa Food Systems Forum 2024

As the Africa Food Systems Forum 2024 unfolds this first week of September in Kigali, Rwanda, Heifer International reaffirms its commitment to supporting young African inventors leveraging technology to combat hunger. The forum, a convergence of industry leaders, policymakers, and innovators, provides a platform for these young visionaries to showcase their agritech solutions. Adesuwa Ifedi, Senior Vice President of Africa Programs at Heifer International, emphasized the organization's dedication to transforming food systems through its AYuTe NextGen program. This initiative has provided essential catalytic financing and market insights, enabling these innovators to scale their solutions and address the challenges faced by smallholder farmers across the continent. The event underscores the potential of strategic support and youthful innovation in revolutionizing Africa's agricultural landscape.

As we look forward to the upcoming events and innovations, the tech community is abuzz with excitement. Notably, the Value Creation Challenge is set for its final stroke this September, with the top 12 startups gearing up to pitch and demonstrate their solutions on demo day.

Stay tuned to Tech News Blitz for more on these stories and other groundbreaking developments in African technology. Together, we are witnessing the dawn of a new era in tech innovation across the continent.