Africa can count on a rapidly growing network of startups.
In recent years, the continent has seen the emergence of startups offering innovative solutions to local issues. Although funding levels are not yet on par with other regions of the world, the continent's potential is real. Driven by the digital boom, promising startups are multiplying and beginning to attract investors. From agriculture to e-health and education, the continent's entrepreneurial and technological news bodes well for the future.
Amid this excitement, some startups are managing to stand out and demonstrate their growth potential.
Paps, the first geolocation-based delivery startup in French-speaking Africa
In parallel with the latest edition of the Vivatech trade show, which once again showcased the continent with its Afric@Tech pavilion, ten digital startups from French-speaking Africa were recognized by the World Bank and its Afrique Excelle acceleration program.
The Senegalese company Paps is one of the winners benefiting from the program. Founded by Bamba Lo, Paps is the first geolocation-based delivery app in French-speaking Africa. The startup has developed a real-time, geolocation-based on-demand delivery service for individuals, retailers, and e-commerce platforms. Launched in 2016, Paps celebrated its third anniversary on August 3.
Wizall accelerates its development in West Africa
In an annual report on the financing of African startups, the venture capital fund Partech Africa praised the dynamism of the African continent. According to the report published on March 22, 2018 was a record year: 146 African tech startups raised a total of US$1.163 billion in 164 funding rounds. Looking at the sectors most affected by fundraising in 2018, financial inclusion driven by Fintech remains the most attractive sector for investment.
In this sector, the start-up Wizall is accelerating its development in West Africa. Founded by Sébastien Vetter and Ken Kakena in 2015, Wizall is a Senegalese start-up specializing in mobile money and money transfers to facilitate exchanges between Africans on the continent and those in the diaspora. After a successful launch, the startup benefited in 2018 from a fundraising campaign thanks to a multi-million euro investment from La Banque Centrale Populaire.
This provided an opportunity to develop activities beyond Senegal, in Côte d'Ivoire, where the subsidiary officially began operations at the end of 2018. The rollout of the Wizall Money solution is set to continue in Mali and Burkina Faso.
This operation has also enabled the management team to expand Wizall's offering and customer base. The startup's business model, initially based on money transfers between individuals on the continent, now follows a B2B2C strategy.
According to figures published by Wizall, the startup is growing in Senegal with 100,000 transfers per month, 60,000 customer accounts, 2 billion CFA francs in circulation on the platform each month, and a team of 60 employees.