• Nearly half expect Africa to be a tech superpower within 10 years

African business leaders are forecasting a surge in spending on tech start-ups as foreign direct investment and improved internet connectivity help establish the continent as a tech superpower,  new research* for blockchain-based mobile network operator World Mobile shows.

More than half (54%) of African senior executives expect spending on tech start-ups on the continent will more than double by 2025 to $10 billion or over compared with the $4.9 billion raised last year**. Around one in six (16%) believe more than $15 billion will be raised.

The study with African business leaders from companies with total annual revenues of more than $6.75 billion identified foreign direct investment and improving internet connectivity as the key drivers for the expansion.

Around three-quarters (75%) believe the investment will come from Western countries while 66% believe China will be a major source of investment. Nearly six out of 10 (57%) believe dramatic improvements in internet connectivity will be the main support for expansion as it drives education, healthcare, and business.

The research among senior executives at companies with average annual revenues of $70 million based in Tanzania, Angola, Botswana, Cameroon, Ethiopia, Ghana, Nigeria, and South Africa found nearly half (45%) believe Africa will be a tech superpower within 10 years.

They point to the development of Africa’s tech ecosystem – nearly 90% of those interviewed expect it to grow by at least half its current size in the next three years with 15% expecting it to double in size during that period.

That in turn will expand Africa’s role in supplying technology to the rest of the world – around 60% of executives expect that to grow in the next five years with one in 10 predicting dramatic expansion.

Micky Watkins, CEO of World Mobile said: “Africa is seen as ripe for economic expansion by its own business leaders and technology will play a vital role in delivering the development.

“The potential is huge as currently Africa only accounts for 0.2% of the global money invested in technology start-ups so there is the capacity for growth and huge interest from Western and Chinese foreign direct investment.

“Much of it hinges however on improving internet connectivity and particularly in areas which are hard to reach and ignored by traditional companies. We are committed to playing our part in supporting the development of technology businesses throughout the continent.”

World Mobile is helping to revolutionise internet connectivity in sub-Saharan Africa and is already working with the government in Zanzibar where it is launching a unique hybrid mobile network delivering connectivity supported by low-altitude platform balloons.

Its blockchain-based network vastly reduces capital expenditure and cuts prices compared to traditional telecom operators and World Mobile is expanding in Tanzania and Kenya, as well as other territories underserviced by traditional mobile operators.

Its balloons will be the first to officially launch in Africa for commercial use, offering a more cost-effective way to provide digital connection to people and is the first step in its mission to help bring nearly four billion people online before 2030 in line with the UN and World Bank’s SDGs.

The World Mobile approach is more sustainable, in environmental, social and governance terms. Environmental impacts are mitigated using solar-powered nodes, second-life batteries, and energy-efficient technology. World Mobile creates a positive societal impact through the application of its circular economy model – a “sharing economy” where locals share in the ownership and rewards of the network. Governance is maintained by the secure underlying blockchain technology, which means that user data privacy is guaranteed and not commercially applied as it is by other mobile operators.

Hernaldo Turrillo

Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.

The post African Tech Start-Up Funding ‘Will Double’ By 2025 appeared first on OpenBusinessCouncil Directory.

The funding round included Amex Ventures – its first investment in an African-focused startup. Klasha’s funding round also included Global Ventures, a leading MEA-focused venture capital firm.

Klasha will use the proceeds to expand into five more African countries in 2022 and re-launch its consumer app – renamed KlashaCart – to allow African consumers to shop from eligible international merchants online.

Klasha’s core checkout technology benefits consumers and merchants. It allows African consumers to pay international online merchants in African currencies and money methods at checkout and then have their goods shipped to the continent. Merchants receive payouts in G20 currencies and are empowered to expand into Africa by equipping them with the requisite payment tools.

The latest funding reinforces Klasha’s commitment to improving commerce for Africans and simplifying cross-border payments so that businesses can expand into a market full of energized consumers.

Launched in May 2021 by a team with combined experience at Amazon, PayPal, Mastercard, Shopify and Net-a-Porter, Klasha’s growth has been rapid. In less than a year, the Company has signed up over 1,700 merchants, processed over 210,000 transactions and is experiencing 15% MoM merchant growth. Klasha’s continued success reflects the substantial market opportunity and readiness of Africans to enjoy the same seamless cross-border transactions experienced internationally, as their economies rapidly develop.

Africa is a vast opportunity for scaling quickly in commerce. It has over 400 million internet users, and the total value of e-commerce is expected to reach $29 billion this year. However, the ability to pay online with African currencies and money methods, including cards, M-Pesa, bank transfers, and mobile money, is challenging for African consumers. Klasha believes they should have technology to facilitate the same frictionless access to goods regardless of geographic location.

Investors that participated in the round include: Amex Ventures, Global Ventures, Greycroft, Seedcamp, Plug and Play, Berrywood Capital and Breega.

Jess Anuna, Founder and CEO of Klasha, said: 

“Given the fragmented cross-border commerce infrastructure on the continent, it is imperative for customers in Africa to access the global e-commerce economy seamlessly and without friction. Our latest funding will allow more businesses to seamlessly tap into the African market through our API, while simultaneously giving African consumers the same access to the global e-commerce economy as experienced internationally.

“We are delighted to have Amex Ventures’ investment and be backed by Global Ventures – one of the leading venture capital firms in the MEA region. It is another significant milestone for Klasha, following the first tranche of our seed round. We are excited by the huge market opportunity in Africa and what lies ahead.”

Matt Sueoka, Global Head of Amex Ventures, said: 

“We look forward to seeing the company’s innovative solutions help open up commerce for African consumers and facilitate cross-border payments. Klasha has the potential to drive spending by making payments simpler in emerging markets and allows merchants to scale within the continent and abroad.”

Sacha Haider, Partner at Global Ventures, said:

“African consumers want the same thing as consumers everywhere else – access to quality products, at a good price, through a seamless shopping experience. Despite impressive growth, e-commerce only makes up 2-5% of total retail on the continent, highlighting the significant opportunity to provide a better experience for the 520 million digital buyers that are anticipated in Africa by 2025. 

“Klasha’s end-to-end check-out solution is designed specifically for key friction points faced by the African consumer including payment methods, currency acceptance, and a fragmented logistics landscape. Jess’s global operational experience across e-commerce and logistics uniquely positions her to solve this problem, and we’re so excited to support on her journey.”

Alison Lange Engel, Partner at Greycroft, said:
“Klasha is meeting the rapidly changing need for modern payments and logistics solutions for online commerce, connecting Africa and its global partners. Greycroft is excited to support founders like Jess and her experienced team who are delivering unique, enduring value for merchants and consumers.”
Klasha has built plugin integrations for WooCommerce, OpenCart, BigCommerce, and many others to drive its cross-border commerce goals. Its integration library is rapidly growing to accommodate even more platforms, including Wix, Ecwid, Magneto, and Commerce Cloud.

Klasha has one API distributed through an ecosystem of B2B and B2C solutions that allows for seamless cross-border commerce:
• KlashaCheckout, a checkout that can be integrated into any e-commerce platform, website, or app that allows international merchants to collect payments from Africa in local currencies, while the merchant receives the equivalent payout in their chosen currency.

• Payment Links, an easy way for international businesses to collect payments from customers in Africa without needing a website, app, or any coding skills. With just a few clicks, businesses can create a simple custom checkout page directly from their Klasha dashboard and share it with their customers.

• KlashaCart, an in-app shopping cart that allows you to shop all your online favorite stores at once. This simply means that with a funded Klasha wallet, you can visit your favorite brands in one click and with one cart. Users can also create virtual dollar cards and pay for subscriptions and services internationally.

• KlashaWire makes cross-border B2B transactions seamless and secure. With this feature, small business owners can make large payments to suppliers overseas with ease in African currencies while lowering the cost of the transaction directly on the Klasha dashboard. When payments are made, the supplier generally receives it in their dominant currency in three business days.

Hernaldo Turrillo

Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.

The post Klasha’s Idea To Revolutionize Commerce In Africa appeared first on OpenBusinessCouncil Directory.

Jewel Okwechime Interview Focus

1. An introduction from you – background, overview, education… UK, Nigeria
2. Education in UK University of Surrey the bridges between cultural background UK, Nigeria
3. Nigerian culture
4. How is it to do business in Nigeria – The country is also named among the top best 10 improving economies globally for implementing regulatory reforms across six of the report’s 10 indicators.
5. How is it to do business in Africa?
6. Career highlights.
7. Working with engineering and oil and gas and energy
8. Working with Tony Onyemaechi Elumelu
9. Your company / companies, organisations and focus: VFD Group
10. How do you see Africa in a time of 4IR and all areas of digital transformation?
11. You have been working on cybersecurity and blockchain. Can you tell your views on these technologies?

Jewel Okwechime Interview Notes

About investing in Nigeria. Nigeria is very optimistic and very welcoming. It is a country that is always open for new businesses and organizations. We have learned over the years how important it is to make sure that new foreign investors and companies have a great time in Nigeria and their image of the country is improved. In fact, Nigeria offers a great cultural background, raw nature, amazing people, etc. It is definitely a great place to go and invest.

The Oil and Gas industry is the most attractive for foreign investors. We are rapidly institutionalizing the industry and making sure that new investors are compliant with the country’s regulations. The opportunities are huge in this aspect and it is growing fast. We still have challenges that we need to overcome, like providing power to the whole country and ensuring that the population can feel the wealth that this industry is bringing.

The World Economic Forum experience. I was tasked to organize our participation in The World Economic Forum in Davos. It was a great experience as I had to push myself to the limits, and learnt a lot about managing top-notch world personalities. It helped me develop my governance and strategist skills.

About VFD Group. Founded by skilled professionals with diverse experience, qualifications and backgrounds, VFD Group is a Nigerian based proprietary investment company that focuses on building positive and socially conscious ecosystems by aggregating potentially viable business with the objective of creating innovative products and solutions that are accessible to the everyday entrepreneur.

Biohacking is about health optimisation and upgrading our body along the way. It follows the same principles as the way we hack digital systems. The goal is longevity. The idea is to take steps to improve our body to make sure we can get the best performance and that includes better productivity, more happiness, less stress, mind empowerment etc.

More Interviews

Interview with Edwin Diender: CDTO and VP, Huawei Enterprise – Leading the World in Digital Transformation Smart Cities

Andrea Bonaceto – NFTs And Collaboration with Sophia the Robot, Artist, Founding Partner at Eterna Capital

Dinis Guarda Interviews David Hanson; Top World Roboticist And The Creator Of Sophia The Robot

Interview with Ben Goertzel Founder SingularityNet, OpenCog – Benevolent And Open AI, What Kind Of Evolutionary Mind Can We Engineer?

Interview With Anish Mohammed, Blockchain Researcher. Head of Research – IIS, SRH Berlin – Building Blockchain and AI Foundations and Ethics 

Jewel Okwechime Biography

Jewel Okwechime is currently the Non Executive Director & Chairman of the Remuneration Committee and Investor relations for the VFD Group Plc. A Chemical Engineer she has 20+ years experience working with the likes of BP, Shell and ExxonMobil, and growing into becoming a global environmental leader.

Jewel Okwechime is a proven environmental control strategist within the global oil and gas sphere, reviewing the best available technologies and providing cost-saving options on-site. In fact, Jewel set up J&R Environmental Services  in 2001, a successful environmental services consultancy and she works in process industry expertise and access to a large network and knowledge base. She – provides businesses and organisations, large and small, with practical, cost-effective solutions for achieving environmental and safety compliance.

Jewel Okwechime is also a Fellow of the Institute of Chemical Engineers, the highest level of professionalism in chemical engineering. Jewel Okwechime also helps other engineers to become chartered.

A pioneering female engineer, Jewel OkwechimeI thrives on demanding jobs and overcoming challenges. Jewel Okwechime is always interested in specialist leadership roles within the environmental and oil and gas sustainability arena.

Jewel Okwechime holds a Bachelor’s Degree in Technology from the Halton College, Cheshire, England and a Masters of Engineering in Chemical and Bio-process Engineering from the University of Surrey, Guildford, Surrey, England.

Jewel Okwechime References

https://www.biznisafrica.com/jewel-okwechime/

https://www.bloomberg.com/profile/person/19951830

https://vfdgroup.com/profile/11/profile

https://soundcloud.com/user-801113867/eur-jewel-okwechime-ceng-cenv-flcheme

Hernaldo Turrillo

Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.

The post Jewel Okwechime, Business Leader, Board Member VFD Group & Abbey Mortgage Bank –  Education, Global Environment & Business in Nigeria appeared first on OpenBusinessCouncil Directory.

27 August 2018, Cambridge, United Kingdom – Cambridge tech firm Azuri Technologies, a leading provider of pay-as-you-go solar home systems to off-grid consumers, will join Prime Minister Theresa May and a British business delegation on a trade mission to Africa to strengthen business relations between African countries and the United Kingdom.

Azuri CEO Simon Bransfield-Garth will join the select group of UK business leaders travelling to the continent to meet with government officials and trade ambassadors from South Africa, Nigeria and Kenya over a week-long tour to further the UK’s position as a trading partner.

“The visit from the Prime Minister highlights both the existing relationships between British companies and countries in Africa and the opportunities for the future. Africa has some of the fastest growing economies in the world and British businesses are ideally placed to support this growth and improve the lives of millions of consumers,” commented Azuri CEO Simon Bransfield-Garth.

Azuri entered the solar market in Africa in 2012 and is now one of the leading providers of pay-as-you-go solar power lighting and TV systems, working in Kenya, Tanzania, Uganda, Zambia and Nigeria.

With over 600 million people in Africa having no access to electricity and many such households located in regions where the cost of rolling out grid electricity would be prohibitively expensive, the Cambridge-based company has been selling its innovative solar home solutions, delivering reliable, renewable and distributed power on an affordable pay-as-you-go basis.

In Nigeria, Azuri solar power was been installed in some 20,000 off-grid households in the North of the country in 2017 as part of the Government’s “Beyond the Grid” initiative and further commercial installations are underway in 2018.

Across East Africa, Azuri is working with major local partner companies to bring solar power at scale to off-grid households, including the provision of seamless solar powered satellite TV providing over 50 channels.

In addition to providing power, to date Azuri has created over 5,000 new jobs via partner companies to sell, support and maintain solar home systems.

Solar power has been shown to have powerful economic and social benefits. Latest data shows solar households on average increased their income by US$35 per month. In addition, children in solar-powered homes were able to study for up to 90 minutes longer in the evenings, compared to households with conventional fuel lamps.

In 2018, Azuri was named the 233rd fastest growing company in Europe by Financial Times and Red Herring’s Top 100 Europe.

Azuri’s solar TV, the first solar home television on the market, continues to collect be industry accolades, the most recently being the ‘Innovative Technology of the Year’ award at the annual Africa Utility Week Industry Awards. Azuri also won an Edison Award for its innovation and excellence.

Hernaldo Turrillo

Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.

The post Trade visit to highlight how UK innovation is changing lives and livelihoods in sub-Saharan Africa appeared first on OpenBusinessCouncil Directory.

 “Everyone has a story to tell, a lesson to teach, and wisdom to share. Life is a beautiful masterpiece bound together by your experiences. Open up and share your story; become an inspiration to others. You can make a difference because you matter.” –Melanie Moushigian Koulouris

Everyone has a story. The talented artisans who sell on Marketplace Africa are no exception. The noteworthy site, founded by Mall for Africa and DHL, has a mission to help bring African-made products to the US and global market.  Shoppers can purchase gorgeous products directly from the source. The site offers items from the continent’s most talented designers and artisans from a variety of categories including fashion, body care, handbags, jewelry and home décor.

Until recently, African craftspeople were isolated from global customers due to distance, the risk of not receiving overseas payments, and complex shipping requirements.  Customers who wished to purchase products directly from African artisans faced obstacles regarding, accessibility of items, authenticity and validation of the product, uncertainty of delivery, high delivery costs, and secure payments.

Here is just one story from the hundreds of talented artisans on Marketplace Africa. Her name is Chinwe Ezenwa and she makes beautiful handbags.

Chinwe Ezenwa –Le Look

Every handmade bag is a work of art. Each print tells a story, a struggle, a personal journey.

Thirty-five years ago, Chinwe Ezenwa started a company she named “Le Look.” Born out of the purpose to help the needy, especially those disabled, it was built out of compassion for those disabled close to her because she saw that even though someone cannot hear or speak, that person can see and can still use his or her creative mind.

Le Look has evolved from a salon into a style house. Famous for its eclectic African print handbags, Le Look is a brand that celebrates and honors African tradition through a lens that is distinctive, modern and qualitative. Every handmade bag is a work of art. Each print tells a story, a struggle, a personal journey. Chinwe is very passionate about informing the world of the stories and beauty of Nigeria and she does just that with her collection of exquisite handmade handbags, worn on the arms of women all over the world, as she puts Africa’s great creative energy to use!

As Chief Mrs. Chinwe says, “I always insist on putting a Made in Nigeria label on my products because that is how it is done in China.” Le Look bags are beautiful because they are a work of art. Although Le Look has grown as a brand, using state-of-the-art technology with the capacity to make tens of thousands of bags, we have not lost sight of the purpose from which we started. We remain passionate about giving back to our community because we believe the world we live in should be a safe and joyful place for all of us.

Le Look bags are 100% handmade in Nigeria masterpieces that are leaving their prints on fashion – pun intended.

Today, Le Look is a brand.  Le Look is a culture. Le Look is a voice.

This is an article provided by our partners’ network. It might not necessarily reflect the views or opinions of our editorial team and management.

Hernaldo Turrillo

Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.

The post Marketplace Africa : More Than Just An African Artisan Shopping Site appeared first on OpenBusinessCouncil Directory.