Elo Umeh

Unlock Africa's Fastest-Growing Industries 🔓 Discover the Africa's booming sectors! From fintech revolutionizing banking to the gaming industry's dynamic rise fueled by affordable mobile tech, Africa's market is dynamic and diverse. 📌 Fintech: Boosting financial inclusion with mobile money and open banking solutions. 💳 📌 Gaming: Riding the wave of mobile accessibility, this sector is leveling up fast. 🎮 📌 Healthcare: Tackling challenges head-on, companies like Africa Healthcare Network are making significant strides. 🏥 📌 Logistics & Transportation: Urbanization boosts demand, transforming logistics into a crucial growth driver. 🚚 📌 Technology: With a $5.2 billion boost in startup funding, tech innovation thrives, attracting global investors.💡 Ready to explore these sectors and make your mark? Velex Advisory has huge of experience in the above industries. From market entry strategies to regulatory compliance, we're here to provide expert support! #Fintech #Gaming #Healthcare #Logistics #VelexAdvisory #TechnologiesAfrica #EntrepreneursAfrica #Business #AfricanGrowthOpportunities #ConsultinginAfrica #StrategyConsulting #BusinessDevelopment #BusinessAdvice #BusinessConsulting #BusinessOwners

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Optimus AI Labs Welcomes Gbemi Akande to the Board of Directors! Optimus AI Labs CEO, Lanre Adelanwa Basamta, is pleased to announce the appointment of Gbemi (Bemi) Akande as a Board Director. Gbemi brings a wealth of experience driving innovation and growth across the African tech scene. His knowledge will be instrumental in propelling Optimus AI Labs on our mission to reimagine businesses with AI. His proven experience and deep understanding of the African tech space make him a perfect fit for our mission. Gbemi's expertise in the growth of the African tech ecosystem will be invaluable as we push the boundaries of AI solutions beyond the continent Visit our blog post to read the full announcement ➡ https://bit.ly/3X95ixp #Leadership #AI #Innovation #Technology #OptimusAILabs #DavidSharma #BoardOfDirectors #Announcement #BusinessGrowth #AIforGood #FutureOfAI #OptimusAILabs #ArtificialIntelligence #StartupNews #OptimusAILabsChairman #StrategicGrowth #ExecutiveUpdate #AILeadership #TechLeadership #Trends #CorporateLeadership #BusinessLeadership #NewsUpdate

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Ready to Invest Alongside Top VCs in Tech Start-Ups in Africa? We're excited to bring you Vengel Fellows a community-led VC in partnership with world-class VC syndicates. Invest alongside billionaires and brightest minds in the venture capital asset class; enjoy the same terms & same returns. We have created a streamlined, transparent and user-friendly platform to allow you to invest alongside the world’s leading VC funds. Our goal is to open the gates of seed and early round investing to everyone on the streets of Africa in a safe, hassle-free and efficient manner. We simplify the process of venture capital investing through our easy-to-join investment platform, detailed research, and vetted start-ups. If you want access to: 1. Early-stage strategic investments in tech start-ups in Africa 2. Insane returns on investment at exit 3. Portfolio diversification 4. Rich network of industry-leading connections 5. Investing and portfolio management knowledge 6. To support innovation and advance individuals and communities in the continent Get in touch with us today. Click on the link in the comments section or bio and chat ''VC'', and we will send you a detailed report on how you can become a member. Whether you're just dipping your toes into equity investment or you're a seasoned investor looking to broaden your horizon and diversify your portfolio, Vengel Fellows has got you covered.

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❗ATTENTION ❗ Regulus ventures in partnership with #3iaAfricaSummit is calling on all seasoned Investors and venture capitalists to join us discover promising ventures, and drive impactful investments Register Now! #investorcall #venturecapitalists #investors #startup #innovators #entrepreneurs #investwithregulus #investmentopportunities

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FinTechs & Startups Boosting Payments for E-Hailing in Lagos and Abuja 📍 Within the past years, Nigeria has become one of the largest e-hailing markets in #Africa. E-hailing platforms entered the #Nigerian market in 2014, with Uber starting its operations in Lagos. ⏭ #Bolt (formerly known as #Taxify) then came to #Lagos in 2016. Uber extended its operations to Nigeria's capital #Abuja in the same year. ⏩ Currently, the operations of #ehailing platforms have expanded across major cities in Nigeria, taking advantage of the country’s relatively underdeveloped public #transport system, high #population and rapid #urbanization (Cenfri, 2020). 🔸 Nigeria’s e-hailing market is dominated by Uber, GIGM, Bolt and Gokada with over 20 e-hailing platforms. 🔸 The service has grown from just carrying #passengers to delivery services such as running business errands, buying #food, or #groceries to your doorsteps thanks to #Fintech and new startup competition. ✴ Fintechs are providing innovative payment integration through APIs to connect passengers' bank apps, mobile wallets and loaded credit cards. Now e-hail cars provide several payment options to users such as ☑ Cash ☑ Card ☑ bank app ☑ mobile money wallet ➿ But is the e-hailing market lucrative❓ 🔹 According to Statista Consumer Insights, the Ride-hailing market in Nigeria is anticipated to generate a revenue of US$252.70m by 2024. 🔹 This sector is expected to exhibit an annual growth rate (CAGR 2024-2028) of 10.74%, leading to a projected market size of US$380.00m by 2028. 🔹 Moreover, it is anticipated that the number of users in this market will escalate to 36.89m users by 2028. 🔹 In 2024, the user penetration rate is predicted to be 13.5%, which will decrease to 14.7% by 2028. 🔹 The average revenue per user (ARPU) is expected to be US$8.15.    ⭕ Despite challenges posed by poor infrastructure and security concerns, ride-hailing services in #Nigeria continue to grow due to the high demand for affordable transportation options and Fintechs' innovative business models. ♻ Do you anticipate Fintechs to fuel the e-hailing transport system in Africa? #nigeria #lagos #abuja innovation #transportsystem #smartcities #fintech #startups #ehailingcars #bolt #uber #gokada #parceldelivery #digitalpayments #bankapps #cardpayment #mobilewallets #cash #passengers Cenfri Statista Consumer Insights Cedric N'guessan Cecilia Ihrivbogbe Maria Fearon CAMS, DCP, CRCMP, MSc Chisom J. Udeh Chisom Ikegbune Teresa Nkonge Agnes Nkosi Fintech Association Of Nigeria Blessing Ogbonna

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Olufemi Oyinsan, General Partner here at The Continent Venture Partners ⟨TCVP⟩, discusses the dual role of regulations in Africa’s tech startup ecosystem with Techpoint Africa. Drawing on experiences with TCVP portfolio companies Gokada and Moniepoint Group, he shares insights on finding common ground between startups and regulators, urging startups to work towards compliance as they grow and advocating for collaborative regulatory engagement. Highlighting the importance of robust digital infrastructure, Oyinsan points to successful fintechs like Interswitch Group and Paystack. He calls for government and private sector cooperation to bridge the digital divide, with the government enabling rather than competing. Oyinsan also addresses the Nigerian Startup Act, noting its potential but slow implementation, and calls for regional regulatory harmonisation to ease business expansion across Africa. For more insights from Olufemi's interview, check out the full article on Techpoint Africa: https://lnkd.in/dqMbjwXS

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Mobile Money in 2024: Africa's Mobile Money on the Rise! Exciting developments are taking Africa's mobile money scene by storm! Here's a glimpse: Mastercard & MTN join forces: Expanding mobile money access across 13 African countries, this partnership empowers millions to make secure digital payments via their phones, fueling the continent's digital economy. West Africa's mobile money boom: Rising agent numbers are driving a surge in West Africa's mobile money market, with Nigeria leading the charge (GSMA 2024 report). This trend is creating income opportunities for many. Airtel Money goes public: Airtel Money's IPO in 2025 is a testament to its impressive growth, targeting a $4 billion valuation and eyeing expansion into new markets. These developments highlight the dynamism and rapid evolution of Africa's mobile money and fintech space. Growth, collaboration, and evolving regulations are shaping the future of this exciting sector. Stay tuned to see how these trends transform Africa's financial landscape! #AfricanFintechSolutions #Fintech #MobileMoney

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Daily research from FinTech Global African FinTech deal activity dropped by 69% in YoY comparison In the first quarter of 2024, the African FinTech sector experienced a sharp decline in both deal activity and fundraising. Only 22 deals were recorded, marking a significant 69% drop compared to Q1 2023's 72 deals. Funding also saw a drastic decrease, with FinTech companies raising just $185.2m in Q1 2024, a 65% decline from the $534.6m raised in Q1 2023. Over the previous quarters, funding values fluctuated with $421.5m in Q2 2023, $604.3m in Q3 2023, and peaking at $738.3m in Q4 2023. If the current trend continues, the annual total is projected to be 88 deals, a 53% decrease from 2023 levels. Moove, a global mobility FinTech democratizing vehicle ownership for mobility entrepreneurs, announced raising $100m in a Series B funding round. Mubadala Investment Company PJSC, an Abu Dhabi sovereign investor, and Uber participated in this round. The funding will enable Moove to expand its global operations to 16 markets by the end of 2025, increase vehicle supply, and boost EV adoption across multiple markets. Founded in 2020, Moove connects mobility entrepreneurs with accessible vehicle financing, and its new UAE headquarters highlight its commitment to fostering global growth and innovation. WealthTech, Blockchain & Digital Assets, and PayTech were the most active subsectors in the African FinTech industry in Q1 2024, each with six, six, and four deals respectively. WealthTech and Blockchain & Digital Assets led the sector, indicating strong interest and investment in financial technology solutions for wealth management and digital assets. PayTech followed, highlighting its continuing importance in the region. This distribution of deals suggests a balanced focus across these key subsectors, reflecting diverse investment opportunities and innovation within the African FinTech landscape.

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We are thrilled to announce the launch of 'The Nigerian Payment Report 2024,' a collaboration with TechCabal Insights. --- This report provides an in-depth exploration of the Nigerian payment industry, offering invaluable insights for Financial Services Providers, Policymakers, and Industry Professionals. --- Key highlights include: ·   An analysis of the structure and key players within the Nigerian payment industry ·   Examination of key payment trends, metrics, and consumer preferences ·   Insights into the regulatory landscape and its impact on payment providers ·   Exploration of emerging technologies with the potential to disrupt the payment space ·   Success stories and best practices from leading payment companies in Nigeria ---- With 'The Nigerian Payment Report 2024,' we aim to empower the financial services industry with the knowledge necessary to drive innovation, foster collaboration, and unlock new opportunities within the payment ecosystem. --- Join us in shaping the future of payments by accessing this invaluable resource. ---- Click here to download the Full report: https://lnkd.in/drmBuKT2  #WeAreZone #ConnectToTheFuture 

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As of March 2024, 15-year-old Paga Group Ltd, a Nigerian payment company, had processed 335M transactions since inception, worth over ₦14T ($32B) via its PoS offering, with 80% coming in the last 5 years. The company is now refocusing on its mobile app for bill payments, airtime purchases, and money transfers. Speaking about the state of the consumer fintech app market and Paga’s approach to differentiating itself, Paga founder and CEO Tayo Oviosu said: “This is not a winner-take-all market. There are different segments of the market that everyone is focused on.” “Our primary target is a slightly higher audience than Opay’s, not to say we don’t have an overlapping audience,” he added. Via TechCabal. https://lnkd.in/gntZDxsb #fintech #financialservices #payments #paymentsolution #africa #growth

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Renda Africa, a Nigerian logistics startup that provides end-to-end order fulfillment solutions for businesses, has raised $1.9 million in pre-seed funding. It plans to use the capital to expand to more cities in Nigeria and Kenya, improve its offerings and grow its partnership network. “Ingressive Capital, a pan-African early-stage VC, led the round’s $1.3 million equity portion. Other participants included Techstars Toronto, Magic Fund, Golden Palm Investments, Reflect Ventures and Vastly Valuable Ventures. Additionally, Founders Factory Africa and SeedFi contributed $600,000 in debt funding. “The startup aggregates and provides access to end-to-end infrastructure that optimizes order fulfillment for businesses. Its solution allows them to access flexible storage, monitor and manage inventory, process and fulfill orders, manage deliveries and returns, and receive and reconcile cash on delivery in real time.” Via TechCrunch. https://lnkd.in/d6Gwh2Yt Ope Onaboye, Patrick Jesam IKOI, Oluwaseun Okunlola, Toyin Adepegba

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Congratulations to Prizeskout, an early-stage E-commerce startup featured in the 2024 #yasr30 list by the Yale Africa Startup Review. Prizeskout is a pre-seed #Nigeria-based startup founded by Adekunle Babasola, Paul David Azemoh and Happiness Adekunle-Babasola. Prizeskout helps users compare prices across 100+ e-commerce stores in 1 click, create wishlists, convert prices to local currency, and share findings with friends to save money. According to the founders, “Prizeskout disrupts industry norms by redefining how shoppers interact with online platforms…The introduction of a unified shopping cart, efficient deal discovery, and streamlined price comparison disrupts established norms, creating a paradigm shift in the African e-commerce landscape..” Join the Review in sharing these stories of innovation, grit & courage! A huge thank you to the editorial team, Africa VC colleagues, corporates and conference partners - https://lnkd.in/dc96NxFe Launch Africa Ventures, Endeavor Catalyst, TLcom Capital LLP, Golden Palm, Ingressive Capital Kemi Kakonge-Ruyondo, Didace Bienvenu Irafasha, Wubrest Bekele, MD, Olushola Aina, Ehizele (Dean) Okoduwa, Amar Kakirde, Christopher Wayland, Sharon M., Khalid Oluyadi, Lina Kacyem, CPCU, Daniel Mainye and Samuel Kitara Yale MacMillan Center, Yale Center for Business and the Environment, Tsai Center for Innovative Thinking at Yale (Tsai CITY), GitHub, Twilio, Amazon Web Services (AWS), Zendesk for Startups, MongoDB,Yale Office of International Affairs, Yale Jackson School of Global Affairs and more

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