Hi everyone, this week’s Ghana tech news is a mixed bag, with some exciting developments and a sobering report. Let’s dive in!
- Ex-Verifibuy CEO Kingsley Abrowah takes the helm of innovation at Old Mutual Ghana.
- SecondSTAX claims the top prize of $10,000 in the Fintech and Blockchain category of the 2024 GITEX Africa Supernova Challenge.
- Two Ghanaian agritech companies selected for MassChallenge Switzerland Accelerator.
- TransactShield Africa secures spot in the BimaLab Africa Insuretech Accelerator programme.
- Singapore and Ghana sign carbon credit agreement to enable companies offset carbon tax.
- Ghana’s startup ecosystem ranking takes a dip on the StartupBlink’s Global Startup Ecosystem Index.
Accelerator
Two Ghanaian agritech companies selected for MassChallenge Switzerland Accelerator.
AgriMercarb and Ecovon, two Ghanaian companies at the forefront of agricultural technology, have been chosen to participate in the prestigious MassChallenge Switzerland Accelerator program. Over the next 4 months of acceleration, the startup will engage with industry experts, corporates, and investors, while receiving world-class mentoring, tailored programming, free co-working space, and numerous key networking opportunities. The accelerator program will culminate on October 31st at the MassChallenge Switzerland Awards ceremony, where the best startups will be rewarded with up to CHF 1 million in zero-equity prize money and several other in-kind prizes.
TransactShield Africa secures spot in the BimaLab Africa Insuretech Accelerator programme.
TransactShield, a Ghanaian company specializing in cybersecurity solutions, has been selected for the BimaLab Africa Accelerator Programme. This program will equip TransactShield is at the forefront of eradicating fraud and distrust and enhancing the insurance industry efficiency with cutting-edge technology. Founded by in 2023 by Samuel Kyei Koomson, Yaw Offeh-Dansoh, Richard Atawine Apuliba, the startup is tackling the trust chalenge in the service industry which hinders growth due to mistrust and inefficiency.
By joining the BimaLab program, TransactShield will gain access to regulatory guidance, mentorship, investor connections, and a platform to pitch their solution to key players.
Funding
SecondSTAX claims the top prize of $10,000 in the Fintech and Blockchain category of the 2024 GITEX Africa Supernova Challenge.
SecondSTAX emerged victorious in the Fintech and Blockchain category of the Supernova Challenge at the recently concluded GITEX AFRICA 2024 conference in Morocco.
SecondSTAX is expanding access to African capital markets by allowing broker-dealers, asset managers, and institutional investors to access markets outside their own country via a transparent, cloud-based portal, while improving opportunities for portfolio diversification and investment growth.
Talent
Ex-Verifibuy CEO Kingsley Abrowah takes the helm of innovation at Old Mutual Ghana.
Former Verifibuy CEO, Kingsley Abrowah, has set sail for a new adventure as the Head of Innovation at Old Mutual Ghana. Abrowah brings a wealth of experience in the Ghanaian tech scene, and his appointment signals Old Mutual’s commitment to staying at the forefront of the financial services industry.
Climate
Singapore and Ghana sign carbon credit implementation agreement to enable companies offset carbon tax.
Singaporean companies looking to offset part of their carbon tax liability could soon be able to purchase carbon credits from projects based in Ghana, following an agreement signed between both countries.
The implementation agreement sets out the processes and criteria for carbon credit projects to be developed and to subsequently generate carbon credits. The carbon credits traded under the agreement can be used to offset part of companies’ carbon tax liability under Singapore’s carbon tax.
Ecosystem Milestone
Ghana’s Startup Ecosystem ranking takes a dip on StartupBlink’s Global Startup Ecosystem Index.
Ghana has slipped 11 places in the StartupBlink’s Global Startup Ecosystem Index. Ghana dropped to 4th position in Western Africa, behind Cape Verde (ranked 2nd) and Senegal (ranked 3rd), losing its previous 2nd place. Accra, the only city ranked in Ghana, maintained its position at the 268th spot. Accra lost momentum in the Western Africa rankings with a drop of one spot to 3rd place, being surpassed by Senegal’s Dakar. Accra excels in the Agtech industry where it ranks 4th in Africa.
The ranking of each ecosystem is determined by a total score, which is computed by summing up three subscores for quantity, quality, and business environment of the ecosystem. The 2024 index serves as a wake-up call for stakeholders to identify and address any roadblocks hindering Ghana’s startup growth.
That’s it for this week’s roundup! Stay tuned for more exciting developments in the ever-evolving Ghanaian tech scene.
Until next time,
The GIJ Team
