Advertising Africa Technology 

Report on the State of play: Fintech in Nigeria, shows expanding business scopes

The report discusses Farmcrowdy and Cowrywise, as 2 leading start-ups in the space currently running wealth management platforms. Cowrywise objectives for the Nigerian middle-class with their online financial investment items. Farmcrowdy gives financiers an opportunity to co-own farms by providing farmers capital expense options. Other fintech startups provide digital insurance coverage to; auto companies, the health sector, education, and funeral services. Rates charged for the cover are as low as $0.50 monthly. The report highlights some shortcomings such as the slower pace in setting up a fintech start-up in Nigeria,…

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Covid19 South America 

Venezuela Tightens Quarantine in COVID-19 Hotspots amid Record Daily Case Count

The Venezuelan government has toughened lockdown measures in hotspot localities as the COVID-19 pandemic picks up. Starting Monday, 30 percent of the country will return to a strict quarantine after a month of easing restrictions, in which a range of enterprises were allowed to reopen across the country on a week-on-week-off basis, including banks, hardware stores and dentists. Under the new lockdown, all businesses are barred from operating except food and drug stores, which may open until midday, and vital services including healthcare, press and limited public transport. Citizens cannot…

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Covid19 South America 

Peru to lift some coronavirus lockdown measures but keep borders closed

Peru will lift coronavirus lockdown measures in most areas of the country, including the capital Lima, at the start of July, while keeping its borders closed, after the daily rate of cases slowed in recent days, the government said. A night curfew will still be in force, according to a government decree, as officials aim to keep the pandemic under control while it grapples with a battered economy and a near-collapse of its health system. Children under the age of 14 and people older than 65 will still be required…

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Africa Financial Services 

MONEY, PEOPLE & POWER: The 10 bank CEOs who control 80% of Uganda’s banking sector – CEO East Africa

1. Anne Juuko Chief Executive, Stanbic Bank 2019 Asset Value: UGX6.6 trillion Market Share: 20.2 per cent Industry Rank: 1 Stanbic Bank has maintained the top spot in the banking sector ever since the acquisition of a majority stake (80per cent) in Uganda Commercial Bank (UCB) back in 2001. Getting to the top spot was the easy bit – despite the politics around the acquisition. Remaining at the top, ahead of the chasing pack is where all credit is due to the bank shareholders and management that have given the…

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Startups 

Nigerian Fintech Start-up, Okra Raises $1m Pre-seed Financing From TLcom Capital

Nigerian fintech start-up Okra has actually secured a US$ 1 million pre-seed funding round from TLcom Capital to enhance its push to develop the infrastructure for Africa’s next wave of fintech development. Introduced in January 2020 by Fara Ashiru Jituboh and David Peterside, Okra is an API creating a safe and secure website and process to exchange real-time monetary information between clients, applications and banks. The company is Africa’s very first API “super-connector” and is developing the facilities for Africa’s next phase of fintech innovation. The startup has actually already…

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