Africa’s Digital Addressing System, Tesla in Africa, and Flutterwave’s Partnership with Airtel Money in East Africa | The Round-up
And just like that, we are already in the middle of November, on the cusp of a new year, but as usual, we are here to deliver your monthly dose of African tech news. This month, AfriTech XYZ explores OkHi’s partnership with fintech giant Interswitch, agritech start-up Vendease’s seed funding, payments company Flutterwave’s partnership with Airtel Money, and more. Here is the roundup.
Africa’s addressing system
The lack of physical addressing systems in Africa represents a huge problem for the continent. In Nigeria, it is estimated that the lack of a proper addressing system costs the Nigerian economy $3 billion per year due to inefficiency. OkHi wants to tackle a problem that stifles access to credit for billions of people across the globe.
Founded in Kenya over 5 years ago, the company is now moving into Nigeria, Africa’s most populous nation, to launch Nigeria’s first digital address verification service. Partnering with Nigeria’s fintech giant, Interswitch, the technology provides an alternative to existing paper-based processes, facilitating a more seamless digital service, reducing onboarding times and lowering operating costs.
Interswitch customers will receive an OkHi address allowing them access to larger wallets, faster loans and improved delivery service.
Here is a roundup of other news stories from the African startup scene in October:
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