Hi everyone, welcome back to the This Week in StartupGhana newsletter. This week’s edition is packed with news on funding rounds, upcoming events and policy updates. Let’s dive in, but first the headlines:
- Ghana’s My Power App selected for the NBA Africa Triple-Double Startup Accelerator.
- EMTECH secures funding from Accenture to modernize Central Bank operations.
- Pure and Just, the fruit upcycling startup scales its production capacity with $440,480 from USAID.
- Chipper Cash secures broker-dealer licence to engage in securities brokerage.
- Ghana SME and Startup Week slated for September 25th to 28th.
Funding
EMTECH, the compliance and regulatory fintech company has secured an undisclosed investment as part of its Series A raise from the global I.T consulting firm, Accenture. The investment, made through Accenture Ventures, will support EMTECH in its efforts to transform central banks’ financial and technology infrastructure and make it easier for central banks to regulate and supervise fintechs.
Raising from Accenture seems to be a match made in heaven. In Accenture, EMTECH has found both a customer and a future strategic acquirer. The consulting firm intends to integrate the fintech’s products into its core banking transformation services. As big consulting firms are always on the lookout for new technologies, it won’t be surprising to Acenture acquiring EMTECH.
Pure and Just Company, the fruit upcycling company is scaling up its production capacity thanks to $440,480 investment from USAID. The expanded factory built is equipped with advanced fruit-drying machines which can process six tons of fresh fruits per day—an upgrade from the previous one ton per day. The factory has the potential to process 144 tons of fresh fruits a year, generate 28 million Ghana Cedis in annual revenue, create jobs, and provide economic opportunities for up to 1,500 farmers.
Accelerator
My Power App, a Ghanaian startup focused on empowering girls and women, has been chosen to participate in the prestigious NBA Africa Triple-Double Startup Accelerator. Founded by Aisha Addo in 2020, My Power App offers a safe space for young girls and women through its social connection and mentorship platform. The platform provides educational resources, confidential helplines, and access to a network of mentors, with the goal of addressing critical areas such as personal development, mental health, and education for young women.
Policy
Chipper Cash has been granted a broker-dealer license by the Ghana Securities and Exchange Commission. The license permits the company to engage in the brokerage of securities, for both individual and institutional clients. The company’s customers will soon be able to access fractional US stocks, enabling them the ability to invest in high-priced stocks or ETFs with smaller amounts of money.
Event
The highly anticipated Ghana SME and Startup Week is back, taking place from September 25th to 27th across the country. This year’s celebration will be decentralized, featuring events in four regional capitals, with the finale in Accra. Highlights include exclusive investment opportunities that allow SMEs and startups to connect with investors eager to support innovative businesses, providing the financial boost necessary for growth.
That’s it for this week’s roundup! Stay tuned for more exciting developments in the ever-evolving Ghanaian startup scene.
Until next time,
The GIJ Team
