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Financial technology, or fintech, refers to innovations aimed at new ways of delivering financial services. With the goal of changing lives, fintech startups in Africa are moving people forward on a digital route. Fortunately, such firms have no lack of funding. According to a recent report from Disrupt Africa, the overall funding from venture capitalists jumped by 51 percent to $195 million from 2016 to 2017, with fintech funding accounting for one-third of the funds. The regions that were considered the top three investment destinations were South Africa, Nigeria, and Kenya. Over the past several months, the African tech scene has trended in a positive directionRead More →

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Nigeria is a business-oriented economy, with an estimated 37 million micro, small and medium-sized companies (MSMEs). The entrepreneurial economy contributes roughly 48 percent of the country’s gross domestic product and employs over 60 million people, making Nigeria the largest economy in the sub-Saharan region. Although these numbers look promising, few businesses are successful in obtaining loans from financial institutions. According to The Credit Crunch, a joint report by the Central Bank of Nigeria (CBN) and the International Finance Corporation (IFC), of the 840 MSMEs surveyed in Nigeria, only 31 percent successfully obtained a loan from a bank or microfinance institution. MSMEs are often burdened by aRead More →

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To address Africa’s water problem, tech startups like HydroIQ are stepping in to digitize the water accessibility and billing system for consumers. According to the U.N., two-thirds of the world’s population could be living in water-stressed conditions by 2025, and the majority of these people will be in sub-Saharan Africa. The African region already faces constant problems due to the scarcity of water that sometimes never reaches the consumers. In Africa, as much as 50 percent of the water supplied by utilities is lost before actually reaching the consumer, all because of an inefficient and poorly managed distribution network. Additionally, the cost burden of water losses is borne by theRead More →

 Deena’s Fundraiser from deena on Vimeo. On an average, Americans think as much as 25% of the federal budget goes to foreign aid and think it should be “slashed” to only 10%. But in reality, less than 1% of the federal budget goes to foreign aid. Millions of people live without basic necessities like clean water, proper sanitation, electricity, and education. To change their situation t is important to gather support for bills in the US that fight to end global poverty and push for stronger foreign assistance. Why The Borgen Project – The Borgen Project helps in alleviating poverty across the globe. Through advocacy,Read More →