Goodwell Investments injects $8.5m into Good Nature Agro. 2 other stories and a trivia

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This line-up of stories will help you discover the latest happenings around the tech world, today.

1. Goodwell Investments injects $8.5m into Good Nature Agro

Goodwell Investments, alongside social impact investors, Oikocredit and Global Partnerships/Eleos Social Venture Fund (GP SVF), has committed $8.5 million in equity to Good Nature Agro (GNA), a Zambian social enterprise.

The substantial investment aligns with GNA’s mission to empower around 30,000 smallholder farmers in southern Africa.

Specializing in cultivating drought-resistant, early-maturing legume seed varieties like beans, cowpeas, soybeans, and groundnuts, GNA employs a comprehensive business model covering access to inputs, input finance, climate-smart training, and a guaranteed market for high-value produce.

The approach is designed to enable farmers to professionalize their businesses, breaking the cycle of poverty.

Established in 2014 as a tech-enabled for-profit social enterprise, Good Nature Agro aims to leverage the recent $8.5 million infusion to expand its client base to 50,000 farmers by 2027.

The focus includes deepening engagement with clients, developing new genetics for enhanced yields and resilience, and continued innovation in agricultural supply chains.

Trivia: Software that helps hardware communicate with an operating system is called what?

A. Driver

B. Plug-in

C. Extension

D. Compiler

Find answer below

2. Egypt’s Domty, Fawry FMCG forge partnership for digital financial solution

Fawry FMCG, a provider of financial technology solutions for consumer goods companies, has announced a collaboration with Egyptian food and beverage giant, the Arabian Food Industries Company, also known as “Domty.”

The CEO of Fawry FMCG, Hossam Ezz, confirmed the development in a press release seen by Ripples Nigeria on Thursday, November 9, 2023.

The partnership aims to bolster electronic collection systems, drive digital transformation in the food and beverage sector, and foster financial inclusion across various sectors within the Egyptian market.

The initiative aligns with Fawry’s steadfast commitment to providing advanced financial technology solutions, particularly focusing on the food and beverage industry, with the ultimate goal of transitioning towards a cashless society.

As Egypt’s largest electronic financial platform, Fawry FMCG serves both consumers and companies through an extensive network of service points nationwide, connecting with over 320,000 merchants and collaborating with more than 100 consumer goods companies.

Hossam Ezz, CEO of Fawry FMCG, expressed satisfaction with the collaboration, emphasizing Fawry’s commitment to agreements that promote digital transformation and streamline electronic collection processes.

3. Gozem acquires Benin’s Moneex to bolsters fintech expansion

West African super app, Gozem, has acquired Benin-based fintech company Moneex, marking a strategic move to enhance its financial services portfolio across multiple markets.

Group director of Gozem, Jean-Martial Moulaud, confirmed the development in a press release seen by Ripples Nigeria on Thursday, November 9, 2023.

Originally launched as a taxi-hailing service in Togo in November 2018, Gozem expanded its operations to 13 cities across Togo, Benin, Gabon, and Cameroon, accumulating over one million registered users and facilitating more than 20 million trips since inception.

Transitioning into a super app model, Gozem now offers a comprehensive range of mobility, e-commerce, and financial services.

The recent acquisition of Moneex, founded in 2021, aims to synergize Gozem’s extensive super app network with Moneex’s fintech capabilities, creating a formidable fintech foundation.

Speaking on the development, Jean-Martial Moulaud, group director of Gozem, expressed enthusiasm for the new fintech chapter, emphasizing the value of welcoming Moneex’s talent into the Gozem family.

Trivia Answer: Driver

A driver, or device driver, is a software program that enables a specific hardware device to work with a computer’s operating system. Drivers may be required for internal components, such as video cards and optical media drives, as well as external peripherals, such as printers and monitors.

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