AfricaWorks Insights
February 3, 2025 at 02:31 PM
Float, South Africa’s 🇿🇦 first credit card-linked instalment platform, has partnered with Peach Payments to offer interest-free monthly instalments at checkout 🤝. This collaboration boosts sales for merchants by increasing basket sizes and conversions, while offering consumers a flexible payment option without extra fees. Float leverages existing credit cards, not new credit, providing a responsible solution for both merchants and consumers 💳.
Yango has partnered with COFINA and Yabx to offer gig drivers in Côte d'Ivoire 🇨🇮 access to short-term loans up to 300,000 CFA ($500) via its app. The "Driver Cash Advance" service provides flexible repayment terms from 2 to 8 weeks. Using AI and machine learning 🤖, Yabx evaluates creditworthiness, enabling drivers with limited credit history to access loans, helping bridge the financial accessibility gap in Africa’s 🌍 gig economy.
Tanzanian 🇹🇿 youth-led agritech startups won the AYuTe Africa Challenge Tanzania Cohort II, receiving $22,500 in total funding 🚀. Their innovations tackled post-harvest loss, pest management, animal feed production, and drone technology. Winners included MIL-Animal Nutrition ($10,000) and Mbeya Oil Cado ($7,500). Heifer International, which organized the challenge, supports young entrepreneurs transforming smallholder farming across Africa 🌍 through innovation.
Vodacom is appealing the Competition Tribunal's decision to block its takeover of Maziv, aiming to boost fibre access in South Africa 🇿🇦. The company has seen strong growth, including a 40.6% rise in data traffic and impressive performances in South Africa, Egypt 🇪🇬, and Tanzania 🇹🇿. With plans for further investment to enhance customer experiences, Vodacom is committed to driving digital transformation and expanding fibre access to bridge South Africa's digital divide.
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