It has been a fantastic year for the African tech sector, from mega deals to mergers and acquisitions, and more unicorns. We are looking forward to 2022 being filled with record-breaking announcements for the African tech sector.
As always, we are here to deliver your monthly dose of African tech news. This month, we explore Moove’s partnership with Lori systems, Bolt’s electric vehicles in South Africa, Spotify’s new ad service in Africa, and more. Here is the roundup.
‘Mooving’ into the ‘Lori’ business
African mobility fintech, Moove has entered into a partnership with African e-logistics firm, Lori systems, to facilitate the accessibility and affordability of vehicle financing within Africa’s trucking and logistics industry and further drive the penetration of truck financing services which is currently below 1%.
Truck drivers are the lifeblood of the African economy as they are constantly moving essential and non-essential goods across several countries, putting their lives at risk on African roads. It’s only fair that they work with companies like Lori systems who make their life easier by using technology to make the process of matching goods to customers more seamless.
The partnership with Moove and Lori will create innovative and flexible financing options, using Lori’s existing data, allowing transporters to fund new trucks, increase their fleet and grow businesses. It will unlock access to financing to provide an even more efficient service and match the growing customer demand in the market, whilst lowering the cost of goods.
Here is a roundup of other news stories from the African startup scene in November:
What else are we reading:
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