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African fintech Paycode on a winning streak

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Biometric identity and digital payments fintech, Paycode, has been selected as one of the Top 4 Finalists in the Women’s World Banking Fintech Innovation Challenge and will be competing live at the 2023 Making Finance Work for Women Summit in Mumbai in May. Selected from a pool of 98 highly qualified applicants across 34 countries, Paycode were judged based on rigorous criteria by an expert Advisory Committee that evaluated several factors, including product innovation, gender inclusivity, financial viability, scale potential, team experience and diversity.

Speaking about the Challenge, Marina Dimova, Global Head of Financial Industry and Network Advocacy for Women’s World Banking said, “Fintech founders develop new solutions when they see an unmet need or an underserved community, and low-income women are absolutely an underserved community. By calling on fintech innovators from around the world and inviting them to present their best ideas at the Fintech Innovation Challenge, we aim to advance women’s financial inclusion and scale growth. We look forward to seeing our finalists presenting their exciting solutions live in India this May, bringing us closer to achieving an inclusive economy for all.”

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The announcement builds on Paycode’s winning streak which started in May 2022 in Mozambique after winning the Mondato Award for Digital Finance Innovation. This was followed by the UK-based Payments Association Pay360 Award where Paycode won Best Financial Inclusion Payments Initiative. Paycode was then named 2nd Runner Up in the Ecobank Fintech Challenge in October 2022 in Togo and a Top 10 Semifinalist in the Women’s World Banking Fintech Innovation Challenge in December.

The common theme across all the competitions was the need for robust financial inclusion solutions that serve people living in deep rural areas. In Africa alone, almost one billion people cannot access basic financial services due to lack of identity, lack of connectivity, and high fees. Paycode’s biometric identity and digital payments solution works offline in real-time, overcoming these barriers to financial inclusion.

Paycode CEO, Gabe Ruhan, commented, “Paycode is delighted to be a Finalist in the Women’s World Banking Fintech Innovation Challenge and we look forward to presenting our solution to the judges at the Making Finance Work for Women Summit in Mumbai later this year. We are proud to be recognised as a leading fintech in Africa, and we look forward to building on our success to drive financial inclusion for millions through our world-class digital identity and payments solution.”

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Lersha Showcases Innovation and Collaboration at GITEX Africa 2024

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Lersha, a one-stop digital platform, recently participated in GITEX Africa 2024, an event celebrated for its networking and exposure opportunities within the tech ecosystem. The event proved to be a platform for Lersha to engage with industry stakeholders, forge strategic partnerships, and showcase its commitment to driving innovation in Africa.

Embracing the theme of innovation and investment, Lersha navigated the vibrant tech landscape of Africa with strategic objectives and meticulous preparation. The event provided a conducive environment for Lersha to foster cross-border collaborations, exchange insights with startups, and explore investment opportunities, contributing to the advancement of African innovation.

Reflecting on the experience, Satta Abraham, Strategy and Growth Lead at Lersha, remarked, “GITEX Africa was an invaluable opportunity for us to connect with industry leaders, exchange ideas, and establish meaningful partnerships. We are excited to harness these connections to drive forward African innovation and empower communities.”

One of the highlights of the event was the productive engagement with the International Finance Corporation (IFC) team. Lersha’s Strategic and Growth Lead participated in insightful discussions, exploring avenues for collaboration and growth over dinner.

Furthermore, Lersha actively contributed to the panel discussion on “Agtech for Financial Inclusion,” where its Strategy & Growth Lead shared key insights on leveraging AgTech to promote financial inclusion in Africa. This discussion underscored Lersha’s commitment to utilizing technology to address pressing challenges in the agricultural sector and enhance financial accessibility for all stakeholders.

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In addition to participating in panel discussions, Lersha showcased its digital solutions alongside other innovative startups, demonstrating its role in shaping the future of Africa’s digital landscape. From cutting-edge technology to groundbreaking ideas, reaffirming its dedication to driving positive change through innovation and collaboration.

As Lersha continues to expand its footprint in Africa, the company remains committed to leveraging technology to empower communities, drive economic growth, and foster sustainable development across the continent.

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Ark-x: Revolutionizing Tech Talent

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Ark-x is committed to accelerating the Moroccan and African tech ecosystems by ensuring the availability and competitiveness of tech talent through agile, scalable, upskilling, and reskilling solutions. This effort is part of the broader JOBINTECH project, a government-sponsored program.

Founded in 2019, Ark-x has been pivotal in addressing the disparity in access to skilled jobs in Morocco. The “Talent Factory” offers comprehensive training programs designed to transform potential candidates into job-ready professionals, ready to meet industry demands.

“Our mission is to unlock the potential of individuals and organizations through competency-based talent solutions,” said Hamza DEBBARH, Founder and CEO of Ark-x. “With advancements in AI, robotics, and IoT, it’s crucial to equip our workforce with the necessary skills to lead in this new era.”

Key Challenges Addressed:

  • Skill Gap: Rapid technological advancements have created a mismatch between available skills and industry needs.
  • Talent Shortage: Companies struggle to find qualified entry-level developers.
  • Economic Impact: Underutilization of local talent hampers economic growth and innovation.

Solutions Provided:

  • Skills-based Training: Comprehensive bootcamps focusing on in-demand tech skills.
  • Career Coaching: Workshops to enhance soft skills and job readiness.
  • Industry Partnerships: Collaborations with leading tech companies for real-world project experience.

Outcomes:

  • 1000 Careers Accelerated: With a goal to accelerate 10,000 careers by marrying scalability with adaptability.
  • 90% Placement Rate: High success rate of graduates securing positions in top tech firms.
  • 95% Recruiter Satisfaction: Achieved through a recruiter-centric approach engaging recruiters early in the program engineering phase and throughout the talent journey.
  • 89% Trainee Satisfaction: Through experiential learning, real-world problem solving, and expert coaching, delivering a transformative, individualized experience.

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Our commitment to excellence has been recognized by leading tech firms and industry experts. We are dedicated to creating a pipeline of skilled professionals who will drive the digital transformation of Morocco and Africa.

Our successful participation at GITEX AFRICA highlighted our innovative approaches and our significant impact on the tech ecosystem.

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Polymorpho, a Moroccan cyber security company shines at GITEX Africa

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Polymorpho Team (Image; Supplied).

Founded in 2022 by Moroccan entrepreneurs and cyber security experts with over 15 years of experience, Polymorpho has always been committed to defying the complexity of cyber threats through innovative and adaptive solutions for individuals, companies, governments, intelligence agencies, and law enforcement agencies to prevent and investigate cybercrime. Reda Cherqaoui, Executive Chairman and Co-Founder of Polymorpho, confirmed that the Moroccan cyber security company used their global expertise and know-how to launch their own venture.

Indeed, after many years of experience in France, the United Arab Emirates, and Singapore, the Moroccan founders have chosen to return home and Africa to create Polymorpho, a company offering a comprehensive range of services and solutions meeting the diverse cyber security needs of each organization.

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At GITEX Africa 2024, Polymorpho demonstrated to visitors and potential partners how their constant research and development make it possible for them to be ahead of increasingly diverse and rapid attacks. Through this event bringing together all digital players from throughout Africa, the continent keeps demonstrating to the world that the future of digital innovation is being formed by extraordinary abilities. Yet in cyber security alone, the potential and improvements to be made in Africa are quite substantial.

In fact, according to the most up-to-date statistics by Nairametrics, cyberattacks against African firms increased by 20% in Q1 2024 when compared to the same time last year. While there was a 5% rise in the average number of attacks per firm globally compared to the same quarter last year, the research found that African organizations saw the most attacks compared to others. With an increasingly attacked continent, the need for effective and adaptive cyber security measures is imminent. Polymorpho is ready for the challenge with their cutting-edge services and solutions in defensive security, offensive security, and cyber intelligence.

According to the Polymorpho team, being part of Gitex Africa was a great way to meet key partners and clients in need of more adaptive and tailored solutions. Polymorpho is motivated to keep inventing and pushing the limits of traditional cyber security solutions. We are honored to represent Morocco on the global scene and to demonstrate that Africa has nothing to envy from other continents in terms of technology, innovation, and cyber intelligence.

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