100 women selected for IFC's She Wins Africa programme

February 28, 2024
5 min read
IIFC's She Wins Africa
IFC's She Wins Africa; Source: Supplied

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Victoria from Techpoint here,

Here's what I've got for you today

  • 100 women selected for She Wins Africa programme
  • Equitel launches 5G in Kenya
  • MoneyHash gets $4.5m seed

 100 women selected for IFC's She Wins Africa programme

IIFC's She Wins Africa
IFC's She Wins Africa; Source: Supplied

The IFC, a member of the World Bank Group, has announced the 100 women selected for the She Wins Africa programme!

This initiative aims to significantly boost women-led startups in sub-Saharan Africa by facilitating access to capital.

The top 100 were chosen from 3,000 applicants across industries such as agritech, eCommerce, healthtech, and fintech. These women will receive several benefits, including mentorship, advice, and opportunities to pitch to investors and industry leaders.

This move is all part of IFC's push to level the playing field for women in business.

Did you know Africa has the highest proportion of female entrepreneurs worldwide? However, despite their talent, African female founders receive only about 3% of startup funding. That's where She Wins Africa comes in.

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Interestingly, this move is not limited to these 100 women. In addition, the initiative is helping 200 more startups where they most need it and organising bootcamps for an additional 200 startups. It’s also collaborating with funds and investors to make it easier for women to get the funding they need to expand their businesses.

Nathalie Akon Gabala, IFC's Director of Gender and Economic Inclusion, is ecstatic, saying it is time for investors to step up and support women entrepreneurs.Besides, this is not IFC's first rodeo; they have previously had success with a similar programme in the Middle East and North Africa.

Equitel launches 5G in Kenya


Equitel and Airtel have teamed up to bring 5G to Kenya, making the former the first virtual network operator in Africa to offer this service.

Remember when it debuted 4G alongside Airtel, Telkom, and Safaricom in 2021? Well, Finserve’s MVNO is taking it up a notch, hitting major cities like Mombasa, Kisumu, and Nairobi.

The 5G rollout will cover hotspots like residential areas, malls, and downtowns across 370 locations.

Equitel's launch includes a 100% bonus on data bundles every Wednesday and Friday. Take advantage of this while it lasts if you are in Kenya!!

To board the 5G train, you will need a 5G-ready phone and a 4G-LTE SIM card. If you still have a 3G SIM, visit an Equity Bank branch to upgrade to a 4G.

Kenya has been feeling the 5G vibe lately. Safaricom led the way in 2022, and Airtel followed suit in 2023.

However, Nigeria's MTN joined the fray in 2022, and South Africa's Rain led the 5G train in 2019.

According to the GlobalComms Database, 18 countries in the Middle East and Africa are in on the 5G action, with South Africa leading the pack. But, hey, it is not just about the numbers; it is about connecting everyone and moving things forward!

MoneyHash gets $4.5m seed

Mustafa Eid (CTO) - Elena Panchenko (CPO) - Nader Abdelrazik CEO); Source: MoneyHash

MoneyHash, an Egyptian fintech company, has raised $4.5 million in seed funding to facilitate online payments across Africa and the Middle East.

COTU Ventures and Sukna Ventures co-led the round, with participation from RZM Investment, Dubai Future District Fund, VentureFriends, Tom Preston-Werner, GitHub’s founder and early Stripe investor, and a group of strategic investors and operators.

Nader Abdelrazik, one of the big shots at MoneyHash, says that only about 10% of payments in the MENA region are digital. But that's changing fast, and MoneyHash wants to be ahead of the game.

The startup offers more than just smooth payments. It also has tools to help merchants detect fraud, manage subscriptions, and more.

According to Abdelrazik, payment failures vary a lot from business to business. While some only mess up about 1 out of 10 payments, others goof up on half of them!

And get this: Most businesses don’t know they are losing money due to payment issues. MoneyHash wants to change that by showing them how to fix the leaks. Besides, the fintech is teaming up with payment companies.

Since it launched its enterprise package last October, MoneyHash has been killing it. It has tripled its revenue and handled way more payments.

Right now, about 50 companies pay to use its service, and it has no plans to give it away for free. However, it does provide a test run for over 100 potential clients.

In case you missed it

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  • Have you ever invested in a crowdfunding platform like Farmcrowdy before? If yes, kindly take a few minutes to answer 8-10 questions here.
  • Kenyan startups focused on embedded finance, future fintech, SME productivity tools, and content like local gaming and mobile advertising can apply for Safaricom’s Spark Accelerator programme. For more information, check this out.
  • The International Center for Journalists (ICFJ) is looking for an editor to support the Arthur F. Burns Fellowship. Apply here.
  • Application for the Meltwater Entrepreneurial School of Technology (MEST) Class of 2025 is now open. Check out the one-year, fully sponsored, graduate-level programme in tech entrepreneurship here before March 18, 2023.
  • Do you live in Nigeria and work with a local or foreign company? Whether it's remotely, on-site, hybrid, full-time, part-time or as a freelancer, @TheIntelpoint is trying to understand the Nigerian workspace: how you work, and toxicity in the workspace among others. Please, fill out the questionnaire here.
  • Explore this website to find multiple job opportunities in Data that align with your preferences.
  • If you are a software engineer, creative designer, product manager, design researcher, or a techie looking for an internship role, please, check out this website.

Have a wonderful Wednesday!

Victoria Fakiya for Techpoint Africa.

She's autistic and interested in mental health and how technology can help Africans with mental disorders. Find her on Twitter @latoria_ria.
She's autistic and interested in mental health and how technology can help Africans with mental disorders. Find her on Twitter @latoria_ria.
She's autistic and interested in mental health and how technology can help Africans with mental disorders. Find her on Twitter @latoria_ria.

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