26 startups Selected For The Accelerator Phase Of The NSIA Prize For Innovation

Today’s Menu ☕️

🚀 Her are the 26 startups Selected For The Accelerator Phase Of The NSIA Prize For Innovation
11wConnect Money secures $8 million in seed funding to expand BaaS and embedded finance solutions in North Africa
🧬 Kenyan President Deploys Military Amid Protests Over New Tax Plan
☀️ Julian Assange set to be freed after pleading guilty to espionage charges

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🚀 STARTUPS

Here are the 26 startups Selected For The Accelerator Phase Of The NSIA Prize For Innovation

The Nigeria Sovereign Investment Authority (NSIA) has revealed the 26 start-ups selected to participate in the Accelerator Stage (physical bootcamp) of the NSIA Prize for Innovation (NPI 2.0). This announcement follows a comprehensive evaluation and due diligence process on over 7,000 early-stage businesses, from which 100 start-ups were initially chosen.

After further rigorous screening, the following 26 start-ups from various sectors have been shortlisted for the physical bootcamp: Magic Carpet, Materials Pro, Jump n Pass, Awacash, VPay, Betalife, Centio Healthcare, Yalo, Pocket Lawyers, Doktorconnect and Trashcoin. Others are: One Health, Redease, VPD, Kunda Kids, Agroxchange Technology, Sycamore, Passcoder, Earlybean, Powerfull, Adashe, Cash Africa, TownHall, Sakula, Pave, Tribapay.

These start-ups will engage in a week-long physical bootcamp, featuring interactive training sessions, networking opportunities with other innovators, and tailored workshops. The bootcamp will culminate in a mini demo day, where the start-ups will pitch their solutions before a panel of judges from the technology and business ecosystem. The top contenders will advance to the Demo Day and compete for a total combined prize value of $220,000, along with an all-expense-paid five-week training program at Draper University in Silicon Valley, USA....……continue reading

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💰 FUNDING

Connect Money secures $8 million in seed funding to expand BaaS and embedded finance solutions in North Africa

Connect Money, an emerging fintech company specializing in banking-as-a-service (BaaS) with a focus on embedded finance, has recently concluded a successful seed funding round, securing $8 million. This financial milestone was achieved with the leadership of two notable venture capital entities, Disruptech Ventures and Algebra Ventures.

The company’s core offering is a robust white-label card issuing platform designed to empower businesses to issue their own branded debit and credit cards. This service is particularly valuable for companies that wish to offer financial services but lack the necessary fintech infrastructure or regulatory licenses....…....continue reading

💵 TAXES

Kenyan President Deploys Military Amid Protests Over New Tax Plan

Kenyan President William Ruto has deployed military forces to quell nationwide anti-government protests that have resulted in at least five deaths and numerous injuries. The protests erupted in response to a new tax plan introduced by Ruto’s administration, aiming to raise an additional 302 billion shillings ($2.3 billion) in the upcoming budget year starting July 1.

The tax plan, which includes contentious levies such as a 16% tax on bread, has faced significant backlash. Despite some contentious taxes being dropped by lawmakers, protesters continue to demand the complete withdrawal of the plan. The government proposed these new taxes to improve state finances, manage its high debt ratio, and secure more International Monetary Fund (IMF) financing.

While these measures have contributed to the Kenyan shilling becoming the world’s best-performing currency this year, they have also sparked widespread discontent due to rising food prices and a high youth unemployment rate, currently at 67% according to the Federation of Kenya Employers.......…....continue reading

👨🏼‍⚕️ PEOPLE

Julian Assange set to be freed after pleading guilty to espionage charges

Julian Assange, the founder of WikiLeaks, has been released from a British prison and is set to plead guilty on Wednesday to violating US espionage law in a deal that will allow him to return to Australia after a lengthy legal battle. The agreement ends a 14-year ordeal for Assange, who has been embroiled in legal issues since WikiLeaks published a massive trove of classified US documents in 2010.

The US government accused Assange of endangering lives by publishing classified information. He was arrested in 2019 and spent over five years in a British prison fighting extradition to the US. Assange also faced sexual assault allegations in Sweden, which he has denied. Those who support Assange view him as a hero who exposed government wrongdoings and war crimes. They believe the US charges were politically motivated and aimed at punishing Assange for embarrassing American authorities......…....continue reading

OTHER STORIES

• FG bans single-use plastics in government agencies, departments and ministries in Nigeria. The Federal Government has announced a ban on single-use plastics in all its Ministries, Departments, and Agencies (MDAs). This directive, effective immediately, is part of CBN’s plan to ensure greater remittance flows through formal channels and improve the efficiency of the foreign exchange market. …..read more

• Orange Contemplates Divesting from Mauritius Telecom as Stake Loses Strategic Value. French telecommunications giant Orange is reportedly exploring the sale of its 40% stake in Mauritius Telecom. Citing sources familiar with the matter, Bloomberg reports that Orange no longer considers the stake as a core asset and has initiated discussions with advisors regarding a potential exit strategy.……read more

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