A selection of tech news from Nigeria and Africa at large.
Revio fintech to reduce failed payments | ProLocums Healthcare Staffing Solution | Google Hustle Academy Fund for Small Businesses | LexiGenius AI-Powered Writing App
South African fintech, Revio raises $5.2 million to reduce failed payments for businesses – Techpoint
Less than 10% of payments in Africa occur through digital channels, signifying an immense opportunity for financial institutions on the continent. McKinsey estimates that revenue in the electronic payments sector will grow by 20% each year, reaching $40 billion in 2025. Despite this opportunity and a growing number of players in the space, payments remain a pain for many businesses. However, payment orchestration startups like Revio help to simplify the process by providing businesses with an API for seamless payment collection.
The three-year-old startup has raised a $5.2 million seed round led by QED Investors, and is the firm’s third investment in an African startup following its Moniepoint and Remedial Health investments. Speedinvest, Ralicap, Everywhere VC, and Partech joined the round. QED’s previous investments in Moniepoint and Remedial Health have been growth-stage investments, but after breaking from tradition, Ruaan Botha, Revio’s CEO, hopes it spurs other investors to join the early-stage investing train. Read more here:
ProLocums Unveils its Revolutionary Healthcare Staffing Solution in Nigeria – Techeconomy
ProLocums, a healthcare staffing platform, has officially launched its revolutionary healthcare staffing solution in Nigeria. With a strong focus on a pressing challenge in the healthcare sector, ProLocums aims to transform how healthcare professionals connect with locum opportunities that match their expertise and availability.
Its mission is to bridge the gap in the healthcare industry by offering a wide range of opportunities for medical doctors, medical officers, dentists, pharmacists, midwives, optometrists, nurses, medical lab scientists, physiotherapists, veterinary doctors, auxiliary nurses, pharmacy technicians, and dental assistants.
The Nigerian healthcare sector has grappled with numerous difficulties, including a shortage of skilled professionals, inadequate coordination, and issues related to salaries and welfare. These challenges have resulted in a significant portion of healthcare practitioners seeking employment opportunities abroad, leaving gaps in the local healthcare workforce.
According to the Nigerian Medical Association (NMA), approximately 3,000 to 3,500 doctors graduate from medical colleges annually. Read more here:
Google Launches ₦75 Million Hustle Academy Fund to Boost Nigerian Small Businesses – Tech In Africa
Today, Google has declared the commencement of application processes for the Hustle Academy SMB Fund. This is a specific ₦75 Million fund provided without the necessity for equity return. This move underscores Google’s unwavering commitment to fostering entrepreneurial dreams and bolstering the growth of Small and Medium Businesses (SMBs) within Nigeria.
In Nigeria, small and medium-sized enterprises are fundamental to the economy, yet they consistently encounter significant obstacles, especially in obtaining crucial funding. As stated by the World Bank, African SMBs are facing a notable financing gap, approximated at $330 billion. Additionally, the opportunity to secure bank loans is scarce, with a mere 25% of African SMBs having access, compared to 50% in more developed economic regions.
Launched in 2022, Google’s Hustle Academy is dedicated to offering SMEs education in business and management, mentoring, and networking opportunities. It focuses primarily on equipping them to present their businesses effectively to garner the essential funding for elevating their operations. Since the beginning, over 4,000 SMBs in Nigeria have successfully graduated from the program. Impressively, 74% of the first-year graduates have reported significant business expansion. Read more here:
Nigerian Develops LexiGenius, an AI-Powered Writing App – Techeconomy
Amidst this digital landscape and the perceived lack of opportunities for local AI advancement in Africa, Olatunbosun Amao, a Nigerian content producer and scriptwriter, has launched LexiGenius, an AI-powered writing app. The writing tool with AI power offers a number of features that have been carefully laid out to aid savvy writers, students, researchers, and professionals. The software, in Amao’s opinion, has the potential to significantly support Nigeria’s digital sector by enhancing content creation, boosting productivity, enhancing education, and fostering innovation.
Amidst this digital landscape and the perceived lack of opportunities for local AI advancement in Africa, Olatunbosun Amao, a Nigerian content producer and scriptwriter, has launched LexiGenius, an AI-powered writing app. The writing tool with AI power offers a number of features that have been carefully laid out to aid savvy writers, students, researchers, and professionals. The software, in Amao’s opinion, has the potential to significantly support Nigeria’s digital sector by enhancing content creation, boosting productivity, enhancing education, and fostering innovation.
According to him, it can position the nation as a competitive player in the global tech arena, attracting investments and fostering economic growth while nurturing a skilled workforce. Amao asserts that LexiGenius combines a variety of essential elements in its AI technology to give subscribers a user-friendly experience. Several user templates, machine learning strategies, adaptive suggestions, a user-friendly interface, and customization choices are some of the essential elements. Read more here:
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Image Credit: Tech In Africa
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