🔐 Nigeria Proposes Creation of ‘Nigerium’ Blockchain

Today’s Menu ☕️

🔐 Nigeria Proposes Creation of ‘Nigerium’ Blockchain to Enhance Data Security
💰 Norfund invests $20 million in Apis Growth Markets Fund III to propel fintech expansion in developing economies
⚕️ Gupshup launches telemedicine chatbot in collaboration with Meta and partners for Sudanese refugees
☂️ Ibisa raises $3 million to advance climate insurance solutions in Africa and Asia
👨🏼‍⚕️ TymeBank announces Karl Westvig as new CEO; Coenraad Jonker shifts focus to Tyme Group expansion

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🔐 BLOCKCHAIN

Nigeria Proposes Creation of ‘Nigerium’ Blockchain to Enhance Data Security

The National Information Technology Development Agency (NITDA) is exploring the possibility of creating an indigenous blockchain platform called ‘Nigerium,’ with the objective of safeguarding Nigeria’s data and bolstering national security. The initiative was revealed during a meeting in Abuja, where Kashifu Abdullahi, NITDA’s Director General, welcomed a delegation from the University of Hertfordshire Law School.

This announcement arrives shortly after NITDA’s recent disclosure of its intention to set up research centers dedicated to blockchain and other cutting-edge technologies across Nigeria’s six geopolitical zones.

Following the Nigerian government’s approval of a national blockchain policy in 2023, which established a legal framework for blockchain adoption within the country, there is now a proposal advocating for the development of a domestically engineered blockchain platform.

It is noteworthy that Nigeria introduced the eNaira, its digital currency, in 2021, utilizing a private blockchain based on Hyperledger Fabric. Despite concerted efforts and partnerships to promote the eNaira, the digital currency has faced challenges in gaining widespread acceptance.......…....continue reading

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💵 INVESTMENTS

Norfund invests $20 million in Apis Growth Markets Fund III to propel fintech expansion in developing economies

Norfund, the Norwegian investment fund specializing in developing markets, has recently declared a significant investment of $20 million into the Apis Growth Markets Fund III. Managed by Apis Partners, a private equity firm based in the UK, this fund is dedicated to investing in technology-driven financial service enterprises with high growth potential across the globe.

Espen Froyn, who holds the position of Senior Vice President for Financial Institutions – Africa at Norfund, expressed that Apis Partners’ commendable history of nurturing and aiding fintech startups is in perfect harmony with Norfund’s mission to enhance financial inclusion within emerging markets.

He stated, “Our collaboration with Apis allows us to tap into their extensive fintech expertise and opens doors for co-investment opportunities that align with the fund’s objectives.”.…....continue reading

⚕️HEALTHCARE

Gupshup launches telemedicine chatbot in collaboration with Meta and partners for Sudanese refugees

Gupshup, a leading conversation cloud platform, in collaboration with Meta, the Sudan Medical Specialization Board, and the non-profit organization Shabaka, recently announced the launch of a telemedicine chatbot service. This innovative solution is designed to provide healthcare access to Sudanese refugees residing in Egypt, Eritrea, Saudi Arabia, Libya, Djibouti, and other neighboring countries.

The initiative is driven by the aim to bridge the healthcare gap faced by Sudanese refugees, who have been displaced due to ongoing conflict and violence in Sudan. Over 8.6 million individuals have been forced to leave their homes, with many finding refuge across borders.

Gupshup highlighted that the telemedicine project is focused on addressing the critical healthcare needs of approximately 800,000 Sudanese refugees who currently have limited access to essential medical services, particularly in Egypt and its surrounding regions. With the new chatbot, patients can now conveniently interact with healthcare providers through WhatsApp, streamlining the process of obtaining medical assistance…....continue reading

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☂ INSURANCE

Ibisa raises $3 million to advance climate insurance solutions in Africa and Asia

The Luxembourg-based startup Ibisa, known for its innovative climate insurance solutions, has recently raised $3 million to propel its growth initiatives across Africa and Asia.

This funding round was spearheaded by the Acumen Resilient Agriculture Fund (Araf) and Equator, with additional backing from Asian Development Bank Ventures (ADBV) and continued support from previous investors such as Ankur Capital.

The capital infusion is set to enhance Ibisa’s efforts in crafting parametric insurance products, which utilize technology to provide climate risk coverage in an efficient and responsive manner. Ibisa’s current portfolio includes a variety of climate insurance offerings designed for sectors such as agriculture, protection against typhoons, and loan coverage for financial institutions....…....continue reading

👨🏼‍⚕️ APPOINTMENTS

TymeBank announces Karl Westvig as new CEO; Coenraad Jonker shifts focus to Tyme Group expansion

Digital banking institution TymeBank has announced the appointment of Karl Westvig as its new Chief Executive Officer. This leadership transition, effective from October 1, aligns with the bank’s strategic move to broaden its range of products and services, transitioning towards becoming a comprehensive service bank.

In a recent statement, TymeBank indicated that the outgoing CEO, Coenraad Jonker, will now dedicate his efforts entirely to his role as the Executive Chairman of Tyme Group. In this capacity, Jonker will spearhead the expansion of the group’s digital banking operations across multiple countries.

The bank’s decision to restructure its leadership comes at a time when TymeBank is poised to achieve a significant milestone of acquiring 10 million customers within the year. Thabani Jali, the Chairman of TymeBank, expressed confidence in the timing of this executive realignment, emphasizing that it will optimize the leadership within TymeBank and the broader Tyme Group.…....continue reading

 OTHER STORIES

• Nigerian edtech startup FLOW sets sights on expansion to UK and broader Africa…..read more

• EXITS MENA of Egypt forms strategic joint venture for expansion into Saudi Arabia……read more

• JICA Launches NINJA Accelerator Expansion in South Africa…… read more

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