Amazon Web Services (AWS), a leading cloud computing platform, is expandng its reach in South Africa’s tech landscape through its Equity Equivalent Investment Program (EEIP). The 18-24 month enablement and acceleration program supports South African Black-owned small and medium enterprises (SMEs) who want to build their AWS business. The EEIP, launched in 2020, has already developed 27 SMEs and is looking to expand its reach to 20 more in its 2024 cohort. AWS targets female and youth entrepreneurs, addressing the gender gap in tech startups. “These SMEs are critical drivers of our economic future,” said Chris
Nigerian fintech startup Cleva has raised $1.5 million in pre-seed funding in a round led by San Francisco-based 1984 Ventures. Founded by Tolu Alabi and Phillip Abel, alumni of Stripe and Amazon Web Services (AWS), Cleva’s product provides a way for Africans to navigate hyperinflation challenges. Africans face persistent challenges in receiving international payments for their skills and products. According to the startup, it is estimated that the market for facilitating payments for remote workers and freelancers in Africa will be an $18 billion opportunity. Nigerian Startup Cleva Cleva is a USD banking platform for emerging
