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Startupbootcamp AfriTech adds Dutch Entrepreneurial Development Bank to list of partners

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3 years ago

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Startupbootcamp

FMO invests in inclusive business models and partners with intermediaries to provide the expertise that improves business operations and also supports a more vibrant start-up environment

CAPE TOWN, South Africa, August 26, 2022/APO Group/ — 

The Dutch Entrepreneurial Development Bank (FMO) (https://www.FMO.nl), a leading impact investor that supports sustainable private sector growth in frontier markets, has partnered with leading pan-African tech accelerator, Startupbootcamp (SBC) AfriTech (https://bit.ly/2SxNwkd), for the third installment of the Africa Startup Initiative (https://ASIProgram.com) Accelerator Program which is designed to scout skill and scale early-stage tech startups in Africa.

Africa’s vibrant startup ecosystem requires support from multiple fronts to grow exponentially and sustainably. The continent is characterized by impressive growth rates and by the end of July 2022, the continent had recorded an estimated 370 deals valued at more than 3 billion dollars. The contribution of ecosystem enablers such as Startupbootcamp Afritech is one of the most important factors enabling startups to scale and innovate. Supporting enablers is also an essential part of the development process.

Through the Ventures Program (https://bit.ly/3PMkx8h) and MASSIF (https://bit.ly/3dZcRC5), the financial inclusion fund FMO manages on behalf of the Dutch government. FMO invests in inclusive business models and partners with intermediaries to provide the expertise that improves business operations and also supports a more vibrant start-up environment. The partnership with SBC Afritech illustrates FMO’s commitment to empowering Africa’s tech ecosystem.

Speaking on this, Ventures Program Manager Marieke Roestenberg said, “As part of our entrepreneurial ecosystem building efforts, FMO was keen to support Startupbootcamp AfriTech in expanding their operations into more middle-tier markets. This partnership provides an opportunity to bring more world-class acceleration to entrepreneurs striving to build businesses that create jobs and better livelihoods for their families and communities.”

This partnership provides an opportunity to bring more world-class acceleration to entrepreneurs striving to build businesses that create jobs and better livelihoods

FMO joins partners such as DER/FJ, AWS, and Google in supporting the ASIP Accelerator program which aims to support the next generation of early-stage African tech startups disrupting key industry verticals that include FinTech, InsureTech, AgriTech, Climate-tech, eCommerce, Digital Health, and CleanTech. Inspired by FMO, SBC AfriTech has also added mobility, micro leasing, and digitizing the informal economy as key focus areas.

“Particularly when it comes to our regional focus, the alignment we share with FMO is a key reason why this partnership is so important. With their assistance, we continue our mandate to empower founders with disruptive solutions,” says SBC Afritech co-founder Philip Kiracofe

Once selected, participants will spend 3 months undergoing intensive coaching through expert-led masterclasses covering scaling fundamentals -from the business model canvas, and lean methodology, to fundraising. The program will take place in Senegal, culminating in a hybrid Demo Day where startup founders pitch their disruptive solutions to a broad audience of media, investors, corporate partners, and industry stakeholders.

Startups will also have access to SBC’s tailored coaching tool, the Accelerator Squared platform which has a complete library of content, group workshops, 1:1 mentoring, collaborative sessions with Entrepreneurs in Residence, and invite-only discussion forums with founders from around the globe. This is in addition to customized support from experienced mentors and dedicated Entrepreneurs-In-Residence (EIRs). The 10 startups in the program will also receive benefits valued at more than $750,000, including credits from AWS, Google Cloud Services, and a cash investment of $18,000.

Over the last 5 years, 50 African startups have completed the SBC Afritech Accelerator. 90% of the alumni are still operating and scaling, and collectively, SBC portfolio companies have raised more than $110 million in follow-on funding. This track record makes SBC one of the most successful early-stage programs on the continent and for investors, the fund has performed among the top 5% of Silicon Valley VC funds.

Applications for Cohort 3 will open on SBCAfriTech.com at the end of August. SBC AfriTech will host FastTrack scouting events in more than 10 countries around the continent, including Ivory Coast, Nigeria, Ghana, Kenya, Morocco, Tanzania, and Ethiopia.

Distributed by APO Group on behalf of Startupbootcamp AfriTech.

Startupbootcamp AfriTech adds Dutch Entrepreneurial Development Bank to list of partners for Cohort 3 of the Africa Startup Initiative (ASIP) Accelerator Program

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Islamic Corporation for the Development of the Private Sector (ICD) and Joint-Stock Commercial Bank “Asia Alliance Bank” Strengthen Partnership 

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4 hours ago

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March 6, 2025

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Islamic Corporation

Asia Alliance Bank has been a trusted partner of ICD since 2013 and has previously received three line-of-financing facilities totaling USD 30 million

JEDDAH, Saudi Arabia, March 6, 2025/APO Group/ —

  • The Fourth Line: ICD and Asia Alliance Bank announce a USD 25 million Islamic line of financing facility to bolster Uzbekistan’s private sector development.
  • Empowering Entrepreneurs: The new facility is designed to accelerate SME growth and foster economic development in Uzbekistan.
  • Strengthened Collaboration: This initiative reaffirms the long-standing partnership between ICD and Asia Alliance Bank, aligning with ICD’s mission to support private sector growth.

The Islamic Corporation for the Development of the Private Sector (ICD) (https://ICD-PS.org) and Joint-Stock Commercial Bank “Asia Alliance Bank” have taken a significant step to enhance Uzbekistan’s private sector development. A USD 25 million Islamic line of financing facility has been signed, marking a milestone in their collaborative efforts to support small and medium-sized enterprises (SMEs) and the broader economic landscape.

This new financing facility, channeled through Asia Alliance Bank, is dedicated to empowering private sector projects in Uzbekistan. It aims to provide entrepreneurs with vital financial resources to launch and expand their ventures, thereby driving sustainable economic growth and contributing to the nation’s economic resilience.

Asia Alliance Bank has been a trusted partner of ICD since 2013 and has previously received three line-of-financing facilities totaling USD 30 million. The newly proposed facility highlights the strength of their enduring partnership and underscores a shared commitment to fostering private sector development in Uzbekistan.

This initiative is closely aligned with ICD’s Private Sector Development Strategy, which focuses on enabling economic dynamism and resilience by empowering SMEs and advancing financial inclusion.

Distributed by APO Group on behalf of Islamic Corporation for the Development of the Private Sector (ICD).

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Milken-Motsepe Prize in FinTech Announces Three Finalists Competing for US $1 Million Grand Prize

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4 hours ago

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March 6, 2025

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Milken-Motsepe Prize

The Milken-Motsepe Prize in FinTech, supports the use of cutting-edge technologies to increase access to capital and financial services for underserved entrepreneurs worldwide

By supporting these pioneering teams, we aim to empower entrepreneurs who drive economic growth and opportunities in their communities

JOHANNESBURG, South Africa, March 6, 2025/APO Group/ –The Milken Institute and the Motsepe Foundation are pleased to announce the three teams advancing to the final round of the Milken-Motsepe Prize in FinTech (https://MilkenMotsepePrize.org/). These innovators are competing for the prestigious US$1 million Grand Prize. The Milken-Motsepe Prize in FinTech aims to recognise groundbreaking solutions for expanding financial inclusion for small businesses in emerging and frontier markets.

The Milken-Motsepe Prize in FinTech, supports the use of cutting-edge technologies to increase access to capital and financial services for underserved entrepreneurs worldwide. The three finalist teams were selected from a highly competitive pool of applicants and will now have the opportunity to attend the Milken Institute’s 2025 Global Conference in Los Angeles, California, in May, where the Grand Prize winner will be announced.

Finalist Teams: 

  • Chumz, Kenya (https://apo-opa.co/3DmBdD4)
    Chumz is a gamified savings product that leverages behavioural psychology to help individuals save money in an engaging and cost-effective manner.
  • Oze, Ghana (https://apo-opa.co/3XvWFMF)
    Oze is a digital lending platform bridging Africa’s credit gap by providing banks with an SME-focused app that digitises financial data, enabling better risk assessment and improved lending opportunities for small businesses.
  • Verto, United Kingdom (https://apo-opa.co/4ilCutv)
    Verto is a business-to-business cross-border payments platform designed for businesses in emerging markets. Its unified network eliminates intermediary fees, supports 49 currencies, and facilitates faster transaction settlements.

Emily Musil, Managing Director at the Milken Institute, emphasised the significance of the competition in fostering financial inclusion, saying: “By supporting these pioneering teams, we aim to empower entrepreneurs who drive economic growth and opportunities in their communities. The Milken-Motsepe Prize in FinTech highlights the power of innovation to address financial challenges in emerging markets, and we are excited to see these finalists bring their groundbreaking solutions to life.”

The Milken-Motsepe Prize in FinTech launched in May 2024 at the Milken Institute Global Conference to award innovative companies that best demonstrate the use of cutting-edge technologies to expand access to capital and financial services for small businesses in emerging and frontier markets. The Grand Prize winner will be selected based on the impact, scalability, and sustainability of their solutions.

The Milken-Motsepe Prize in FinTech offers $2 million in total prizes, including the $1 million Grand Prize. Beyond the financial award, finalist teams benefit from invaluable networking and pitching opportunities, helping them accelerate the implementation of their solutions in high-impact markets.

Distributed by APO Group on behalf of The Milken-Motsepe Innovation Prize Program.

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iSON Xperiences and Aistra Announce Strategic Partnership to Drive Artificial Intelligence (AI)-Powered Customer Experience (CX) Transformation

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6 hours ago

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March 6, 2025

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iSON Xperiences

The global collaboration aims to revolutionize customer experience through AI-led automation, predictive analytics, and next-generation digital solutions

DUBAI, United Arab Emirates, March 6, 2025/APO Group/ —iSON Xperiences (www.iSONXperiences.com), a global leader in AI- driven customer experience (CX) solutions with a presence in 22 countries, has announced a strategic partnership with Aistra, an AI Adoption company, focusing on automation and transformation solutions built around its proprietary AI Agents, MicroApps, and Process Acceleration technologies.

This collaboration will enable iSON Xperiences to leverage Aistra’s advanced AI capabilities to accelerate digital transformation initiatives for their clients worldwide. The partnership spans multiple industries, including Telecom, BFSI, Fintech, Retail, E-commerce, Travel, Consumer Services, and Energy, among others.

Key Focus Areas of the Partnership: 

Partnering with Aistra allows us to accelerate AI adoption and unlock new value for businesses by enhancing customer interactions and operational efficiency

  • AI-driven automation to enhance customer interactions and engagement
  • Advanced predictive analytics for data-driven decision-making
  • Seamless AI integration across industry-specific solutions

“At iSON Xperiences, we are committed to redefining customer experience through innovation,” said Vitul Kwatra, CEO, iSON Xperiences. “Partnering with Aistra allows us to accelerate AI adoption and unlock new value for businesses by enhancing customer interactions and operational efficiency.” 

With its deep expertise in AI, automation, and digital intelligence, Aistra will collaborate with iSON Xperiences to develop AI-driven solutions that elevate customer engagement, reduce service friction, drive business growth, and enhance digital maturity to ensure long-term competitiveness.

“This partnership represents a significant step forward in AI-led CX transformation,” said Eric Selvadurai, Co-Founder and Managing Partner, Aistra. “By combining our AI capabilities with iSON’s extensive client base and industry expertise, we are setting new benchmarks for AI-led and data-driven customer experiences.” 

Distributed by APO Group on behalf of iSON Xperiences.

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