The Africa Blockchain Incubation Program continues its work by championing the adoption of innovative technology in Africa to deliver economic and transformative dividends.
Through the incubation program, ABI selects and nurtures startups working on innovative ideas using blockchain to deliver value and solve problems in Africa.
The 4-month program recently passed its mid-point. This brief report highlights the different participants and components of the program.
To mark the mid-way milestone, we organized a mid-program demo and milestones showcase day. During the session, startups shared the milestones that they had worked on while demonstrating updates on their product MVPs in order to receive feedback.
It was exciting to see the progress a number of these startups had managed to have having started from scratch at the beginning of the program.
The program kicked off at the end of February after a shortlisting and selection of 7 startups from more than 400 applicants from across the continent.
Here are the participants in this edition of the program:
Konnadex
Konnadex offers an automated Web3 payroll and invoicing solution for businesses and Individuals. By leveraging the power of blockchain technology, providing a secure, transparent, and efficient platform that enables individuals and businesses to pay their employees and vendors in various cryptocurrencies.
The platform is designed to simplify the complex process of managing payroll and invoicing in the crypto world, providing businesses with a hassle-free solution that saves time and reduces costs.
Konnadex is helping finance managers, operations, and human resource managers at crypto-native companies cut out the drudgery of manual processes.
Also helping remote workers all over the world to get paid in a remote-first organization and DAOs quickly and at fair rates.
In addition, our platform is highly customizable, allowing businesses to tailor their payroll and invoicing processes to their unique needs.
Whether you’re a small startup or a large enterprise, Konnadex solution can help you streamline your operations and stay ahead of the competition in the fast-paced world of crypto.
With its innovative technology and unparalleled customer service, Konnadex is committed to delivering value to its clients and helping them achieve their business goals.
Ugochukwu Okoro is the CEO and Co-founder while Livinus Umeaduma is the CTO and Co-founder.
Crunch Network
Crunch Network is an innovative credit pool solution that aims to empower employees and SMEs in marginalized communities, by addressing the critical problem of limited access to affordable credit due to high interest rates, and stringent collateral requirements, and complex application procedures.
By harnessing the power of blockchain technology and AI integration, Crunch Network aims to revolutionize access to credit liquidity, making it faster, cheaper, and highly accessible.
Since its inception, Crunch Network has achieved significant traction with a community of over 6,000 members, 400 token holders, 1,000 beta-testers, and completed an angel round of $50,000. Crunch Network sets itself apart from competitors, such as Centrifuge and Goldfinch, through a unique borrower rebate system that encourages responsible borrowing and timely loan repayments.
By targeting middle-income individuals with a solid background in the crypto sphere and small businesses seeking financial support, Crunch Network aims to bridge Africa’s staggering $421 billion credit gap.
Its passionate team of seasoned professionals, boasting expertise in finance, blockchain technology, and business development, is dedicated to democratizing access to credit and building a more inclusive economy for Africa.
Michael Ehiagwina and Sumaina Braimah are the Co-Founders,
PharmaLink
Pharmalink is a comprehensive digital health data management system platform that connects patients, pharmacies/pharmacists, and doctors/hospitals by exploring proper medical record documentation and integration.
By creating an account on the platform, health professionals and patients have access to a wide range of tools that aid medical record documentation and sharing across health facilities which promote health-care delivery.
Pharmalink prioritizes the security and privacy of its patient’s health information. By using their platform, patients and health professionals can access high-quality healthcare services conveniently, quickly, and securely.
David Effiong and Alinafe Kaliwo are the Co-Founders.
Tswaanda
Tswaanda is revolutionizing the agriculture industry through its innovative platform that combines finance, trade, and technology.
Its mission is to empower farmers and create a more sustainable and efficient ecosystem for agricultural production.
By leveraging blockchain technology, Tswaanda provides farmers with access to affordable financing, transparent trade mechanisms, and a marketplace to connect with buyers.
Through its platform, farmers can scale their production, improve their livelihoods, and contribute to food security.
What sets Tswaanda apart is its commitment to transparency, traceability, and financial inclusion. Tswaanda tracks the entire supply chain, from farm to market, ensuring the integrity of transactions and building trust between farmers, financial institutions, and buyers.
By digitizing and streamlining processes, we eliminate inefficiencies, reduce transaction costs, and facilitate seamless trade.
Moreover, Tswaanda prioritizes financial inclusion by basing its lending decisions on credit score derived from farmers’ activities rather than traditional collateral requirements. This approach opens doors to funding for farmers who were previously underserved by conventional financial institutions.
In summary, Tswaanda is driving positive change in the agriculture industry by delivering a comprehensive solution that empowers farmers, improves trade efficiency, and fosters financial inclusion.
Join Tswaanda in transforming the way agriculture is financed and traded, making a lasting impact on the livelihoods of farmers and the sustainability of our food systems.
Confidence Nyirenda and Selestine Mabhunuh are Co-Founders.
Toropal
Toropal is a revolutionary blockchain-based platform for instant remittances to Africa.
Toropal address the pain points of sending money to Africa, such as high transaction fees, slow processing times, and limited access to financial services.
The platform believes that financial inclusion can move the human race forward, and it is designed to bridge the gap between people in the diaspora and their families in Africa.
By leveraging the power of blockchain technology, Toropal is able to provide instant and secure money transfer services, which in turn will drive economic growth and empowerment on the African continent.
Its vision is to be the leading platform for global remittances and money transfers, offering secure and instant services at no cost to customers.
Dennis Kiprono and Mercy Kiprono are the Co-Founders.
Kuanijom
BAgro Crop Limited is an integrated agribusiness employing sustainable cultivation and preservation techniques to produce purely organic crops and animals.
Its e-commerce platform built on the NEAR blockchain aims to provide a seamless supply of food crops and vegetables to consumers across Africa.
Building on the NEAR blockchain helps the platform achieve presence and scalability in different countries while overcoming the barrier of currency differences.
BAgro wants to make it possible for consumers to buy produce using NEAR tokens regardless of the currency.
For example, 10kg of produce can be purchased for 5NEAR and delivered in our countries of operations without having to restructure forex equivalents and rates.
A further advantage of the platform is helping new and existing users get introduced to the NEAR chain and enhancing its adoption and use, on our platform and in other industries.
Bless Ama Satsi and Micheal Komla Opare are the Co-Founders
Ladwar Stock
Ladwar Stock is a revolutionary platform that enables investors to invest in livestock without physically owning the animals.
By investing in stock, investors can participate in the growth and success of livestock farms across Africa.
The platform helps farmers to raise capital without incurring debt, and it also offers a unique opportunity for investors to diversify their portfolios and earn passive income.
It allows farmers to list their livestock as stock, which investors can purchase for a predetermined price.
The livestock is then owned by the farmers, and investors earn a return on their investment based on the performance of the farm.
This means that farmers can raise the capital they need to grow their business, while investors can earn passive income without the risks and costs associated with owning physical livestock.
With Ladwar Stock, everyone wins – farmers are able to grow their businesses and create jobs, while investors are able to earn a return on their investment and make a positive impact in the agriculture industry.
Listed below are the mentors and exports at the incubation program:
Next Steps
As the program continues and nears the end, the Africa Blockchain Institute is preparing for the DEMO Day where the startups will present their solutions to a physical and virtual audience of ecosystem stakeholders including investors, regulators, and other interested parties. The DEMO Day event will be held on the 22nd of June 2023 at the Kigali Convention Centre in Kigali, Rwanda.
If you are an investor or stakeholder who is interested in attending the DEMO Day, kindly send an email to: incubation[at]africablockchain.institute
You can also keep up with the progress of the incubation program by subscribing to the Newsletter on its website.
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