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Open Banking Nigeria welcomes Pngme, extends international partnership

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Pngme CEO, Brendan Playford (Source: Facebook)

Open Banking Nigeria, the leading non-profit coalition of industry stakeholders advocating the adoption of open banking in Nigeria has welcomed into its fold Pngme, a leading API player in the international financial landscape.

Pngme, the unified data API for financial institutions and developers, joins other stakeholders within and outside Nigeria to extend the depth and the breadth of innovative thinking that would birth new application programming interfaces (APIs) and other technologies to serve Nigeria and become a reference point for Africa.

Pngme will enhance the capacity of the innovations that would arise as a result of the implementation of standard opening banking APIs to satisfy customers through access to tailored services.

The new joiner will also bring its expertise to help service providers reach new markets – including the financially excluded and extend the capability of organisations in numerous industries to add value through new lines of solutions and services.

Welcoming the new member, Ope Adeoye, a Trustee of Open Banking Nigeria, said: “At Open Technology Nigeria, we are always excited to partner with players across relevant industries all over the world for the attainment of a financial services climate that efficiently serves the needs of customers and helps businesses achieve their objectives.”

Also speaking, Cate Rung, Pngme’s Co-founder, said: “As an organisation that understands and values the importance of access to data, partnering with Open Banking Nigeria is yet another opportunity for us to help financial institutions, developers and stakeholders in other industries understand the benefits of open banking and the positive downstream impact it has not only on their customers’ experience, but their revenues.”

“Already, we look forward to the collaborations that open banking would birth across Nigeria to the delight of customers everywhere.”

Also Read: Intel ‘Youth In AI ePavilion’ to promote inclusion of youth-focused initiatives at AI Expo Africa 2020

Based in San Francisco, Pngme provides digital data pipelines, scalable API architecture, and a suite of developer tools that enable financial institutions and developers to come up with financial products that reach more individuals and businesses.

Open Banking Nigeria works with banks, seasoned individual industry professionals, financial technology firms, risk management organisation and other stakeholders to define an open and non-partisan set of APIs for financial services and with a spiral effect in other industries in Nigeria.

Issued by: Open Banking Nigeria

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Press Release

Pezesha Raises Seven-figure Seed Extension from GreenHouse Capital to Fuel Expansion of its Embedded Credit Infrastructure across Africa

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Pezesha team (Image: Supplied)

Pezesha, a pan-African fintech company building scalable lending infrastructure for SMEs and institutions, today announced the close of a seven-figure growth funding round led by GreenHouse Capital (GHC). In addition to GHC’s investment, Pezesha received on-lending liquidity support from GHC’s sister company Venture Garden Group (VGG). These financing milestones will support Pezesha’s continued growth across Africa and its mission to expand access to affordable working capital for SMEs.

Pezesha is solving Africa’s $82 billion working capital and trade finance access problems by enabling non-traditional finance institutions to offer working capital to SMEs using Pezesha’s lending infrastructure. The company has built robust APIs to originate quality SMEs and original credit scoring models that allow capital to flow efficiently and productively. Pezesha’s new partnership with VGG will expand the capital available for Pezesha and its institutional partners to lend to SMEs. Pezesha previously raised capital from Consonance and Seedstars.

Hilda Moraa, CEO and Founder of Pezesha, commented, “we are delighted to have GreenHouse Capital join the Pezesha family. We are aligned in vision as well as our commitment to solving the working capital challenges that are preventing African SMEs from achieving their full growth potential. GHC’s investment will catapult our growth by enabling us to scale our existing partnerships with the likes of Twiga Foods, Jumia, Marketforce, and Popote Pay, among others. More so, the investment will unlock our vision of building the operating system to power embedded finance in Africa”

Ruby Nimkar, Principal at GreenHouse Capital, added, “Pezesha is breaking down barriers to SME financing by taking an ecosystem approach to the problem of access to capital. Their embedded finance model is truly groundbreaking, and we have full confidence in Hilda and her talented team to take their model into new markets and continuously close the SME financing gap across Africa.”

Bunmi Akinyemiju, CEO of Venture Garden Group, commented, “Pezesha’s innovative model is driving capital to the African SMEs that need it the most. We are excited to be partnering with them to expand their access to funds that they can use for their on-lending liquidity.”

Pezesha has scaled its lending infrastructure in Kenya, Ghana, and Nigeria and is planning to launch in Uganda in September of 2021.

 

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AVEVA Launches Comprehensive Operations Control Software through Game-Changing User-Centric Flexible Model

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AVEVA Executives; Rashesh Mody, SVP Monitoring and Control and Kerry Grimes, Head of Global Partners(Image: Supplied)

AVEVA, a global leader in industrial software, driving digital transformation and sustainability, announced today that it will be making its Operations Control solutions available as a single subscription for the first time. This redefines the industrial software experience, going beyond HMI and SCADA, enabling industrial organizations of all sizes to develop collaborative workforces, scale effectively, and optimize operations for agility and efficiency.

From IIoT architectures and cloud-driven remote edge management to multi-site supervisory control, AVEVA™ Operations Control software will be available via a flexible user-centric model, through the AVEVA™ Flex Subscription program in three core packages: Edge, Supervisory and Enterprise. These core solutions provide all the necessary tools for plant, field, control room, and enterprise teams to drive actionable information, collaborate effectively, and accelerate operational excellence. The program also offers access to add-on functionality with AVEVA Manufacturing Execution, and AVEVA Insight for advanced AI and workflow management. AVEVA’s new Operations Control software subscriptions now allow end customers to use all of its products, the way they want to use them.

AVEVA Operations Control offers an infinite range of possibilities for companies to connect operations and workers via the cloud, web and mobile to drive efficiency through collaboration and standardization. It delivers supervisory, visualization, collaboration, and analytics software in a single combined subscription providing unlimited access to actionable information.  Every team, whether on the plant floor, in the control room, or operating across the enterprise, is empowered to do more, in collaborative alignment. Customers can build a reliable foundation towards operational excellence with AVEVA Operations Control.

AVEVA offers the first single subscription program on that market that spans edge-to-cloud solutions for plant operations. The AVEVA Flex subscription program is designed to provide access to the entire AVEVA portfolio – enabling customers to flexibly drive sustainable growth. It allows companies to achieve a faster return-on-investment, removing traditional barriers to software adoption and revolutionizing the purchase and consumption of industrial software. The subscription model enables simplicity in license purchasing, usage and management – aiding organizational digital transformation.

In the FY21 fiscal year, AVEVA recorded strong subscriptions growth as businesses sought access to transformational technology on a flexible, agile basis. According to ARC Advisory Group, subscription-based models are predicted to grow at a pace nearly four times that of traditional software over the next five years in the industrial automation markets.

Craig Resnick, Vice President at ARC Advisory Group commented: “ARC anticipates that the subscription model growth rate will be significantly higher than the traditional licensing model growth rate for purchasing HMI/SCADA solutions going forward. This shift towards the subscription model is driven by a number of factors, including the market seeking single converged solutions, such as HMI/SCADA and asset performance management, that deliver great flexibility together with edge-to-cloud integration, a capability that AVEVA can deliver today as part of its AVEVA Flex subscription program.”

Rashesh Mody, SVP Monitoring and Control, AVEVA said: “Our solution is enabling teams in different physical locations to organize their operations, collaborate, and leverage vast internal knowledge. Most importantly, customers can now accelerate their digital transformation journey through one simple, agnostic subscription package.”

“Industrial organizations are increasingly aiming to utilize technology environments that will provide them with a comprehensive view of their field, control room and enterprise operational facilities. With AVEVA Operations Control they can now view end-to-end processes with an unlimited offering through the edge, enterprise and supervisory core functions,” Mody added.

“With AVEVA Operations Control available via the AVEVA Flex subscription program, channel partners can now offer outcome-based solutions and services to their customers. AVEVA’s offering is unique because it enables simple and flexible pricing – allowing our channel partners to differentiate themselves in the market and stay ahead of the competition,” said Kerry Grimes, Head of Global Partners at AVEVA.

 

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Endeavor Nigeria unveils inaugural cohort for its ScaleUp program

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Entrepreneurs from Releaf, Bankly, wallets.africa and BFREE selected to participate in new Endeavor ScaleUp Program

Endeavor Nigeria has unveiled the inaugural cohort of entrepreneurs for its new 10-week Endeavor ScaleUp Program that aims to support Nigeria’s most promising, high-impact business leaders. Leveraging Endeavor’s extensive global network, participating entrepreneurs will have access to mentorship, fundraising support, partnerships and a strong peer network of high impact entrepreneurs who have built and run successful businesses.

Seven entrepreneurs from four Nigeria-based start-ups have been selected to participate in the program, which will also provide an opportunity to receive tailored support and fresh, honest, and in-depth feedback that will help them scale to the next level. The entrepreneurs that have been selected to participate in the program are:

  • Releaf – Ikenna Nzewi – CEO and co-founder, Uzoma Ayogu – CTO and co-founder
  • Bankly – Tomilola Majekodunmi – co-founder and CEO
  • wallets.africa – John Oke – CEO
  • BFREE – Julian Flosbach – CEO, Moses Nmor – CPO, Chuks Enyi – COO

The new Endeavor ScaleUp Program will provide a subset of the services provided to Endeavor Entrepreneurs and participating entrepreneurs will be given direct, actionable feedback to support their growth as business leaders. The program will also include group workshops facilitated by Endeavor Entrepreneurs, board members and mentors, as well as access to executives from industry-leading companies for potential business development opportunities.

The group workshops will be led by Bolaji Balogun – CEO of Chapel Hill Denham and Vice Board Chairman at Endeavor Nigeria, Ife Orioke – CIO and co-founder of Flutterwave, and Tosin Eniolorunda – CEO and co-founder of TeamApt. The mentors will include Seni Adetu – former MD/CEO Guiness Nigeria Plc, Adepeju Adebajo – former CEO, Lumos Nigeria, Anders Einarsson – CEO Food Products International, Promasidor Nigeria Limited and Felix Ike – co-founder and CTO, TeamApt.

Speaking on the new program, Tosin Faniro-Dada, Managing Director and CEO of Endeavor Nigeria said, “We are delighted to have these exciting entrepreneurs on our first ScaleUp program, and we have prepared an impactful program that will address their most pressing challenges and support them as they advance to the next stage of their business growth. One of our core values at Endeavor is our commitment to paying it forward and our Endeavor Entrepreneurs are also eager to support the next generation of high-impact entrepreneurs with their deep knowledge, experience and functional expertise in their respective industries and markets”.

With a mission to build strong entrepreneurship ecosystems in high-growth markets across the world, Endeavor selects, mentors and supports high-impact entrepreneurs leading some of the world’s most exciting scale-up companies, supporting them to scale their companies as well as drive economic growth and job creation. Endeavor Nigeria currently supports 24 entrepreneurs who lead 13 companies including Flutterwave, Carbon, Autochek, 54gene, TeamApt, TradeDepot, Helium Health, Paga, Migo, Daystar Power, HealthPlus, Kobo360 and FilmHouse Group.

 

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