The Y-Combinator Accelerator Chooses Nigerian Fintech Startup CowryWise For A Three-Month Programme
Funding over 1,900 startups since 2005, the Y-Combinator accelerator selected Nigerian fintech startup CowryWise to join its 2018 class of startups for its summer programme, which will also see the company receive a $120,000 in funding. Alumni of the famed accelerator include companies such as, Airbnb, Dropbox, and Stripe.
The three-month programme will enable CowryWise to perfect its pitch and scale the company with support. The company will then present its pitch during a demo day at the end of the programme to a carefully selected, invite-only audience.
Razaq Ahmed and Edward Popoola founded CowryWise with a mission to empower customers with the necessary tools to take control of their finances.
While conventional monetary institutions may produce cost-related obstacles in areas such as savings and wealth accumulation to people outside of their high net worth bracket, CowryWise is determined to make banking simpler and accessible to everyone.
This company has various features to achieve an effortless and gratifying banking experience. Equipped with an automated personal savings function, users can automatically transfer money from their account into a CowryWise account using a debit or ATM card. The cash can be withdrawn at anytime and interest is earned on personal savings from day one.
Alongside this achievement, CowryWise released its “Life Goal” feature recently which allows users to make saving goals for the future.
The company however, is not without competition in Nigeria, with another company, PiggyBank recently raising $1.1 million in funding for its own personal savings solution.
Ghanaian E-health Startup Develops Medical Diagnosis Network
Based in Ghana, eHealth startup Redbird, is fulfilling its plans to help improve the country’s diagnosis of chronic diseases such as hypertension and diabetes.
Redbird believes that convenient methods of monitoring and managing a patient’s health are crucial to providing excellent treatment. According to Patrick Beattie, the startup’s CEO, “Redbird is developing a network of convenient locations for personal health monitoring and primary care diagnosis within existing independent pharmacies.” Through this plan, pharmacies will have access to ready-to-implement solutions for a quick diagnostic service.
Patrick Beattie launched Redbird in 2017.
StartCredits Eases Access to Loans
StartCredits is enabling more than 10,000 monthly users to save money on loan products, creating greater fiscal inclusion in Nigeria.
Established in 2016, the company offers a free loan search, enabling customers to locate top loans and interest rates in their selected category.
The founder Rahmon Ojukotola provided more insight into the functions of the company to Disrupt Africa. “Our loan search engine provides a new channel for Nigerians to borrow money with full transparency that increases competition in the market to reduce interest rates for qualified borrowers,” he said. Alongside this, the company has a credit risk model that supports banks, mortgage and microfinance institutions to assess risks and allocate more loans to successful individuals.
The United Nation Food and Agriculture Organisation Promises to Invest In Liberian Fishery Sector
The Food and Agriculture Organisation (FAO) of the United Nations is invested in Liberia’s promising aquaculture industry.
During a recent visit to the National Fisheries and Aquaculture Authority (NaFAA), Madam Mariatou, an FAO Country Representative, made a statement that recognised the potential of Liberia’s fishery space as well as the FAO’s intentions. “As one of [the] FAO’s partners, Liberians can be assured that this United Nations Organisation will push for more logistical support to improve the Liberian Fisheries sector,” she said.
Praising the efforts made by the leadership at the NaFAA, the FAO promised to donate vehicles to the NaFAA management, which acts as a sign of support and a committed desire to transforming the industry.
Ghanaian Agri-tech Startup, Complete Farmer, Launches New Website
Located in Ghana, the agri-tech startup Complete Farmer created a farming website, which enables users to sponsor farms remotely in exchange for a definite return on their investments once the harvest is complete.
The company desires to ensure food security in the country, create more jobs for farmers as well as the youth and increase the income of their clients through farming. Andrew Quartey, the Chief Technology Officer said “We are thrilled to launch this platform. With it, fashion designers, traders, corporate employees, retirees and other people from all walks of life can own a farm and enjoy the benefits without lifting a finger,”.