MSc in Business Innovation, 12+ years of experience in the pharmaceutical field & business innovation
i am an individual who is on the journey of starting clothing line business, and i am deeply interested in knowing about Africa and being able to bring solutions to problems that we are facing Africans
Don't miss the ASV and ESV summit happening this October from 24th to 25th October in Nairobi Kenya. The summit will bring key stakeholders and entrepreneurs across the globe.
Kindly register using the link https://bit.ly/asvesg_summit24
Africa Shared Value and ESG summit will bring various business stakeholders across the continent, all this is by the support of key brands.
Most Active North American Investors in African Startups 🚀
As the entrepreneurial spirit thrives across Africa, North American investors have been stepping up in the last three years to support and accelerate the growth of innovative startups on the continent. Here’s a look at some of the most active North American investors who are leading the charge:
- Google for Startups Black Founders Fund
- USAID
- DFS Lab
- Endeavor Catalyst
- IFC - International Finance Corporation
- U.S. International Development Finance Corporation
- SOSV
- On Deck
📧 If you want more details on each investor, check out our article in Startup Researcher Africa, and don't forget to subscribe to our newsletter.
The 2024 Africa Impact summit deal room is hosting this fireside chat to bring out the experience of funds and businesses in the deal making process. The session will highlight some of the expectations , challenges and experiences of both investors and ventures in the fundraising journey.
Its only few days left to the biggest leadership and mentorship conference, happening on the 17th and 18th of July in London.
Link to register https://www.eventbrite.co.uk/e/the-9th-alm-africa-summit-2024-tickets-887010922547?aff=oddtdtcreator
Bank of Ghana Clarifies Roles of FinTechs and MTOs in Remittance Process.
The Bank of Ghana has clarified that local FinTech companies authorized by the Central Bank do not directly mobilize foreign exchange from abroad. Instead, this responsibility lies with Money Transfer Operators- MTOs located overseas, which handle the receipt of remittances. The funds received by MTOs are deposited into the nostro accounts (a bank account that a domestic bank holds in a foreign bank, denominated in the foreign bank's local currency) of local partner banks, and Fintechs manage the downstream process of payments to beneficiaries within Ghana.
Recent concerns suggested that FinTechs were holding onto foreign exchange abroad, with claims that around $12 billion in remittances to Ghana between 2018 and 2022 went untracked. The BoG refuted these assertions, particularly dismissing reports that $8 billion had been withheld by newly licensed MTOs and 11 FinTech companies over the past two years. Discrepancies between the World Bank’s remittance tracking figures and the Auditor General’s recorded amounts further fueled public confusion.
