TechCabal Each day – All eyes on SMEs 👀

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28 JULY, 2021

Lawful morning ☀️ ️

Piggyvest has added one other feather to its cap. 

The day earlier to this, the Fintech company presented that it had performed the acquisition of Savi, a wealth management app launched in 2018.

The team additionally shared that there will be extra acquisition announcements in 2021.

In recently’s version:

  • Yoco is dedicating its $83 million to SMMEs
  • Ecobank and Microsoft wants to equip African SMEs with digital skills
  • Nigeria’s scientific diagnostics explain is getting solved
  • The finalists for the 2021 Future is Female Mentorship Program

Yoco is dedicating its $83 million to SMMEs


The greatest single funding raised by a payments company in South Africa has ethical been made.

How noteworthy are we talking about here?

$83 million. South African payments and way platform, Yoco, has secured $83 million in Series C funding, bringing the total funds raised to this level by the startup to $107 million. It’s additionally the absolute top funding ever by a petite change-centered payments platform within the Center East and Africa (MENA).

The corporate plans to deploy the funds to provide extra tools that may allow petite micro and medium companies (SMMEs) thrive within the digital economic system. It additionally plans to originate bigger beyond South Africa as the seek records from for digital payments among African petite companies grows. 

How Yoco obtained here

At inaugurate in 2015, Yoco made waves with its portable card machines. At the time, it turned into sophisticated and pricey for companies in South Africa to fetch POS machines from banks. 

Yoco changed the game with its portable card reader which could well perchance be attached to telephones or capsules. 

Since then, it has reached as a minimum 150,000 petite companies within the nation and processed $1 billion in payments. 

How some distance Yoco is going

There are 6 million petite companies in South Africa on my own, about 100 million within the MENA location, and most of them aloof transact in money only. 

Yoco wants to attain one million of them within the next four years. 

In Michael Ajifowoke’s characteristic, CEO Katlego Maphai shares how Yoco plans to enact this.


Read South Africa’s Yoco raises $83m to lengthen digital payments to 1 million SMEs

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Ecobank and Microsoft deserve to equip SMEs with digital skills


Ecobank is partnering with Microsoft to upscale its functionality vogue centre, Ecobank Academy, and provide Limited and Medium-sized Enterprises with digital skills. 

Backstory: On-line change units are immediate rising in Africa. There are online storefronts, marketplaces, and apps to help sell the relaxation. And the proliferation of mobile telephones, as properly as the pandemic, plays a gargantuan position on this. 

By 2025, there will be 614 million outlandish mobile subscribers in Africa, in step with GSMA, up from 477 million in 2019. Smartphone adoption is projected to attain 65%. This means plenty extra of us will be digital, shopping for digital formula to enact change. 

Are African SMEs ready to compete on this unique e-realm? 

Enter EcoBank Academy

In 2014, Ecobank’s vogue centre, Ecobank Academy, grew to become purposeful. The academy is a company university centered on providing digital financial and management packages to Africans. 

This month, then again, EcoBank has presented its partnership with Microsoft to encompass practicing for SMEs as fragment of its Academy’s programme. The free virtual practicing will provide SMEs with digital skills and resources wanted for success within the digital skills. 


Read extra: Ecobank and Microsoft deserve to put together extra African SMEs to be digital companies

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Nigeria’s scientific diagnostics explain is getting solved


Lack of fetch admission to to quality healthcare tools is a prevailing healthcare explain in Nigeria and Scientific Gadgets as a Carrier (MDaaS) is step by step addressing it.

Let’s glance at some numbers

Many of us as a results of staring at scientific reveals have heard of terms cherish CT scanners, MRIs, and ECGs.

Neatly, only 11% of the countries in sub-saharan Africa have as a minimum one MRI scanner per one million of us. Nigeria has 58 to carrier its population of 200 million. For CT scanners, Nigeria has 183 and bigger than half of of that’s owned by non-public hospitals.

How is MDaaS going to alternate this?

MDaas installs and operates widespread, tech-enabled diagnostic centres the attach petite and medium healthcare services in underserved areas can fetch admission to quality scientific tools at practical charges.

In 2016, founder Oluwasoga Oni and his classmates at MIT started MDaaS with plans to sell and lease secondary scientific tools to hospitals, beginning with Nigeria. That opinion failed because most of the hospitals couldn’t manage to pay for the tools. Olusoga and his co-founders then switched tactics and started providing the hospitals with fetch admission to to quality diagnostic services as a alternative.

5 years later, MDaaS has efficiently raised $3.5 million and is step by step reaching its dream to create the absolute top network of bodily and virtual diagnostic and main care services in Africa. 


Read extra: From MIT to MDaaS: Meet the couple fixing Nigeria’s scientific diagnostics explain.

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The Future is Female Mentorship Program proclaims finalists

The Future is Female Mentorship Programme has presented 25 finalists for its 2021 version. 

In 2020, C. Moore Media World Public Family situation out to provide a protect to female tech founders in Africa with communications and PR skills to help develop their companies. In that year, it bought 139 applications from 18 countries, deciding on 12 finalists from Uganda, Nigeria, South Africa, and Kenya. 

On Wednesday, CMM presented the finalists of the 2nd version of its programme. From an software program pool of 180 tech startups across 26 countries, this year’s candidates encompass startups from Tanzania, Senegal, Guinea, and the Democratic Republic of Congo. 

On the listing are startups doing modern things in vogue, skill-constructing, vitality, health care, and agritech.

Uncover in regards to the finalists here.

Written by – Timi Odueso

Edited by – Daniel Adeyemi