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Umba, a Digital Bank for Emerging Markets, Raises $2 Million Seed Funding to Expand Across Africa
Umba, a digital bank for emerging markets and aiming first at Africa, has secured a $2 million seed funding round from new investors including Lachy Groom, ex-Head of Issuing at Stripe; Ludlow Ventures; Frontline Ventures and Act Venture Capital.
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- Finance, Technology
- Region
- Sub-Saharan Africa
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Coders Behind Bars: The Prisoners Training for Future Tech Jobs
Unemployment among former inmates in the US is five times higher than for the general population, according to Amazon Web Services (AWS). The company is involved in Justice Through Code, a project to bring coding qualifications to the convicted from Columbia University’s Center for Justice and The Tamer Center for Social Enterprise at Columbia Business School.
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- Technology
- Region
- Asia Pacific
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2020 MOST INFLUENTIAL ARTICLE CANDIDATE: Taking Cold Chains Off-Grid: How Solar Powered Cold Rooms Could Dramatically Reduce Food Waste in Sub-Saharan Africa
In sub-Saharan Africa, up to 50% of produce perishes before reaching end customers, largely due to a lack of viable cold chain solutions. Maria Knodt at Energy 4 Impact and Ruth Kimani at CLASP explore how solar-powered cold rooms can address this issue, and highlight some significant technical and business model challenges that could undermine their impact.
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- Agriculture, Coronavirus, Energy, Finance, Investing, Technology
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2020 MOST INFLUENTIAL ARTICLE CANDIDATE: Businesses Behaving Badly: The Troubling Parallels Between Microfinance and Facebook
Chuck Waterfield left microfinance five years ago, after working in the sector for three decades. He stopped using Facebook three years ago, after using the platform for about 10 years. As he explains, he left them both for a similar reason: Their business models have grown increasingly problematic over time – and without external intervention, things are likely to get worse.
- Categories
- Finance, Technology
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Paypal’s Xoom Offers Money Transfers to Mobile Wallets in 12 African Countries
Xoom, PayPal’s money transfer service, has announced that the company’s customers in the US, UK, Canada and Europe can now send secure and convenient money transfers directly to mobile wallets in key markets across Africa with a focus on the underbanked segment.
- Categories
- Technology
- Region
- Sub-Saharan Africa
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A Paradigm Shift for Fintechs: Why a Coherent Data Strategy Has Become a Business Necessity
The global increase in internet access has led to an explosion in digital data, with 33 zettabytes produced in 2018 alone – a number predicted to increase to 175 zettabytes by 2025 (1 zettabyte is 1 trillion gigabytes). Meanwhile, the advent of machine learning and the Internet of Things has changed the way businesses process this information. Analysts at MicroSave (MSC) explore how fintechs can leverage this new data and analytics technology to obtain a competitive edge – and to benefit their customers.
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- Finance, Technology
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Majority of ASEAN Region Fintech Firms Are Planning to Raise Additional Funds While Expanding Operations in 2021: Report
Four in five or 80% of Fintech companies in the ASEAN region are focused on expanding their operations following the COVID-19 outbreak. ASEAN member countries include Brunei, Burma (Myanmar), Cambodia, Timor-Leste, Indonesia, Laos, Malaysia, the Philippines, Singapore, Thailand and Vietnam.
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- Technology
- Region
- South Asia
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Arya Raises $21 Million to Provide Farmers in India Finance and Post-Harvest Services
Only about a third of the yields Indian farmers produce reaches the big markets. Those whose produce makes it there today are able to leverage post-harvest services. Everyone else is missing out.
- Categories
- Agriculture, Technology
- Region
- Asia Pacific