Cash flow is a major pain point for small businesses in Africa. Long payment cycles, which can take 30-90 days after services or products have been rendered, and little or no capital, of which research says 85% of African small and medium businesses are subject to, are the main culprits of cash flow issues.

Many startups are solving these problems for African SMBs in one form or another, and the demand for their services has seen Ghanaian startup Float pick up a significant round of funding. The fintech which provides credit lines for businesses has raised $17 million, funding that it will be using to bolster its offerings and expand geographically.

The seed round was a mix of $7 million equity and $10 million debt. While Cauris provided debt financing, Tiger Global and JAM Fund, the investment firm of Tinder co-founder Justin Mateen co-led the equity bit. Other VC firms involved in the equity round include Kinfolk, Soma Capital, Ingressive Capital and Magic Fund.

A couple of angel investors also took part: Y Combinator CEO Michael Seibel, Sandy Kory of Horizon Partners, Ramp founders Karim Atiyeh and Eric Glyman, Gregory Rockson of mPharma and Dutchie founders Zach Lipson and Ross Lipson.

CEO Jesse Ghansah started the company, formerly known as Swipe, with Barima Effah in 2020, and following its rebrand as Float, went live with its product in June 2021. The idea for the YC-backed Ghanaian fintech came during the chief executive’s time at OMG Digital, a media company he founded that also got into YC, in 2016.

“We needed credit and proceeded to get an overdraft from a long-term partner bank where we had transacted more than $100,000. But the bank wanted us to deposit 100% collateral in cash before they could give the overdraft,” the two-time YC founder told TechCrunch in a June interview.

“I also remember taking money from loan sharks with ridiculous interest rates, sometimes as high as 20% a month, to meet payroll. That threw me into solving those problems with Float.”

It’s an identical problem for more than 51% of 44 million formal SMBs in sub-Saharan Africa who say they need more finance than they can access to grow their businesses, per research. Float provides credit to some of these businesses that find it challenging to get from traditional banks.

In addition to flexible credit lines for businesses to cover cash flow gaps, Float also has software tools for businesses to manage accounts and wallets in one dashboard, as well as automate bills, vendor or supplier payments and invoice collections. The company aims to serve as the “financial operating system” for Africa’s small and medium businesses.

Other features on the platform include invoice advance, opening a business account, payment links, managing budgets and spend cards.

The company has also introduced some more features recently: revenue advances and instant payouts. With the latter, Float wants small businesses to use its platform to tap into their revenues instantly instead of using gateways, which take days to settle. Its invoice factoring helps businesses with outstanding invoices get cash advances.

Ghansah stated all these features provide different forms of credit for various industries and verticals across the continent.

“The big challenge is that credit needs of businesses are very different. The credit needs of retail are very different from the credit needs of a services business, or the credit needs of agriculture, business or pharmaceutical or medical supplies businesses,” said the chief executive.

“So we are trying to dig deep into which credit products work for certain verticals. And so that’s what we’ve been working on so far.”

In the seven months since Float’s launch, the cash flow management and spend platform has onboarded hundreds of businesses in a wide range of industries — retail and manufacturing, fintech, e-commerce, media and health.

Float has also hit $10 million in credit spend and cash advances to businesses in that time. The company claims to have seen its payment transaction (invoicing and vendor payments) volume, in eight figures, increase 26x.

Float isn’t the only African fintech newcomer with plans to be the “operating system” for small and medium businesses in the region. Prospa, Brass and Sparkle are a few of these startups that provide financial and cash flow support and software services to businesses.

Each company claims not to see the others as competition; first, they believe the market is big enough for all parties to coexist. Second, there’s a feeling of superiority in their products — though they won’t say this publicly.

For Float, it prides itself on giving businesses access to financial and software services simultaneously. And then in providing readily available flexible and short duration working capital instead of outright expensive loans.

“I think that a part of how we differentiate ourselves is just how flexible our credit is, in terms of the speed of access, how quickly you can draw down on credit,” said Ghansah. “And then, like it’s flexible in terms of how you can just take it out for a day and then repay the next day, for example.”

Float, present in Ghana and Nigeria, intends to use this new capital to set up entities in Kenya and South Africa by Q2 as soon as it gets licenses to operate, Ghansah said on the call.

The company will also use the investment to improve its cash management platform and launch new credit products tailored to specific business verticals and industries.

“Float set out on a mission to provide more cash flow and liquidity for millions of businesses across the continent to help them grow and reach their true potential,” said the chief executive in a statement.

“With this new funding, we will continue to refine both our credit and software products to deliver the best experiences for our fast-growing customer base. We are excited to be the growth partner of choice for businesses in Africa.”

Culled from TechCrunch

From the brand-new medical drama Accra Medic to a new talk show hosted by Angela Bamford to a new sitcom starring the award-winning media personality Caroline Sampson, here are all the new shows from Akwaaba Magic to stream on Showmax in January 2022.

Date My Family Ghana | Stream now

Ghana is the latest country to join the Date My Family franchise, a dating reality series that follows single people as they attempt to find love with three potential dates. But it’s not your typical dating reality show – the singles’ friends and family are involved in the matchmaking, and it can get embarrassing really fast.

Before the hopeful singles lay their eyes on their potential dates, they have to meet their loved ones. Then they get to take their pick, depending on whether they were impressed by the family or not.

Accra Medic | Stream from 19 January 2022
Accra Medic is a medical drama that explores the lives of the staff at an Accra hospital. While also navigating the challenges in their personal lives, the series will follow them as they fight to save the lives of patients in a hospital that’s suffering from mismanagement in a country with an ailing healthcare system.

Directed by Emmanuel Apea (Run Baby Run), Accra Medic stars Edward Agyekum Kuffour (Inside Out), Desiree Crentsil (Noko Fio), Kweku Elliot (To Have and To Hold) and Aaron Adatsi (Public Figure).

The Angela Bamford Show | Stream now
Hosted by Ghanaian media personality Angela Bamford, The Angela Bamford Show is a Ghanaian variety talk show that explores topics that are otherwise considered taboo in the average African society. The show unearths forgotten and “controversial” topics and brings them to the fore, creating new thought-provoking and pertinent dialogue, centred on the unique African experience.

The Osei’s | Stream now
Starring Jacinta Ocansey (Ghana Jollof), Jeffrey Nortey (Inside Out) and Andrew Tandoh Adote (Terminus), The Osei’s is a comedy series that follows a man who relocates his family from Kumasi to a lavish new home in Accra after winning the lottery. Becoming rich and famous overnight, the family has to deal with new money, family and intrusive neighbours in their own way, often leading to hilarious outcomes.

The Osei’s is directed by Kwabena Gyansah, whose other works include the award-winning 2018 film Azali, Ghana’s first-ever entry to the Oscars.

Co-Habits | Stream from 20 January 2022
This romantic sitcom follows a young couple who navigate side-splitting reality checks when they decide to test-drive their marriage by discreetly cohabiting to reduce their chances of divorce.

Directed by Peter Sedufia (Aloevera), Co-Habits stars Fiifi Coleman (Ties that Bind), Caroline Sampson and Jackie Ankrah (Inside Out).

Sheroes of our Time S2 | Stream now
Hosted by Ghana’s media personality and actress Anita Erskine (Dede), Sheroes of Our Time is a talk show that celebrates strong and unique women around the world who have successful stories to share, inspire and engage other women across generations and continents.

Culture and Money S2 | Stream now
Hosted by renowned radio presenter Bianca Buckman, Culture and Money explores the relationship between creativity and money, featuring conversations with successful cultural influencers such as musicians, fashion designers, chefs and sports stars about their craft and money – how they make it, how they manage it and how they keep it going.

And just like that, in a flash, 2021 is gone. With all the hopes and promises, all the cheers and tears. The successes and failures are all but distant memories now. Welcome to 2022! A few years after the first wave of the Covid-19 pandemic has seen many lives all over the world almost return to normal. However, with many different waves of the pandemic as well as a plethora of variants and strains popping up daily, everyone seems to still be on edge.

Over the past few years, two words have been on everyone’s lips.

‘Safety’, which practically forms the basic need in such times cannot be overemphasized. However, the other unmistakably important twin word happens to be ‘cost-saving’. Bread weaners have been lost, many fathers and mothers laid off from their jobs and a general level of hardship has caused a lot of people to be very conscious of how they spend. Jumia, Ghana’s leading ecommerce platform discusses the top 5 cost-effective items to buy online this new year.

1. Food / Groceries – Arguably the first thing that comes to mind when we think of survival or living life itself. Food! Can we even survive without it? Well, maybe for a short while. Even when we fast or starve for a while, the health implications are damaging. This new year, buying food or groceries online can help you save a lot of money. Online shops and food delivery services provide a wide range of options at discounted rates. This makes it possible for you to compare prices from different vendors in order to make informed choices. In some cases, new year promos make it possible for you to shop at heavily discounted prices as well. What’s better? You get the food/ grocery items delivered to your doorstep at reduced shipping fees or sometimes even free of charge.

2. Back to School items – The turn of the year always comes with huge responsibilities for parents and guardians. Immediately schools reopen, then there is that vital issue of school fees, feeding fees and other back-to-school items. This can get quite overwhelming especially after all the spendings during the Christmas and New year festivities. Books, school bags, stationery, provisions and other essentials needed for all levels of the educational ladder are in high demand. This often causes a spike in prices which isn’t pleasant for any parent or guardian. Buying these items online saves a lot of time and cost. Online shops like Jumia are running ‘’Back to School’’ promos with heavily discounted items of up to 50% while giving away some of these items for as good as free. Getting all your orders conveniently delivered to you at home or picking up at a station close to you also saves parents the hustle and time of roaming through town to buy these items. Online delivery and its related shipping/ pick-up fees are also more affordable.

3. Clothing & Cosmetics – ‘’New year, new me’’ they say. What about changing that wardrobe and getting rid of some old clothing? Sometimes that’s all you need to kickstart the new year. A fresh start is always better with fresh clothes if you can afford them. This helps to also get rid of old, unused clothes. You can even gift them out to other family members, friends or the needy. Where else to find good quality but less costly shoes, bags, shirts, skirts, trousers, underwear, make-up kits etc? Your guess is as good as mine! Clearance sales are ongoing everywhere this new year with new trends coming up and brands needing to get rid of old stock. This is the best time to take advantage and shop. For employees returning to work, what an opportunity to go back into that office looking ‘’dapper’’ for less

4. Electronics – At the end of each year, many top electronic brands clear out their warehouses and shops to make room for the new year releases. 2021 models or older are sold online at heavily discounted prices to make room for 2022 models. Smartphones, laptops, refrigerators, air conditioners, blenders, microwave ovens, audio devices etc are selling fast this new year and many customers are saving a lot. With the ongoing African Cup of Nations as well, this may be the best time to buy that television set and soundbar or home theatre system you have always wanted.

5. Airtime, gift vouchers & bill payments – Although this may not traditionally pass for an item to shop for online, it has become increasingly important that we pay our bills and buy airtime or internet data through online platforms like JumiaPay to save cost and time. Sitting in the comfort of your home or office while paying for your electricity, water, DStv and other bills has become the new normal. These days many people buy their apple gift cards, PlayStation vouchers and do other financial transactions online. This helps to save a lot of time and money as they avoid the long queues, traffic and human interaction. Although online payments may attract some charges, this is cost-effective as compared with physically going to the service providers one by one to pay all the bills.

It’s a beautiful brand new year with so many months, weeks and days to go. It is important that we save a lot of time and money on anything we can. The above list is not exhaustive and based on your own needs and preferences, you can go online and shop for all your essentials.

Have an amazing 2022!!!

Credit : Bennet Otoo (Jumia Ghana)

Science Fiction movies are a fascinating genre – they can provide escapism for the viewer, and at the same time they also provide commentary on society and people. In 2021 there weren’t many Sci-Fi films released, so it didn’t seem like it was a big trend – although out of the few Sci-Fi movies that were released, there were some that proved to be massive blockbusters, which shows that the genre is still highly profitable for the film industry.

We spoke to TechQuarters, a London-based Managed IT Support London company, about Sci-Fi movies. As a tech company themselves, they love to watch Science Fiction in their free time. One of the best things about Sci-Fi movies is that they can be as funny or as serious as you want. The whole point of the genre is to tell stories about how science and technology affects human beings, which can have serious consequences (think of Black Mirror) or funny consequences (like Back to the Future).

So, below are the 5 best Sci-Fi movies that came out in 2021.

Dune

The 2021 blockbuster was the third attempt at adapting Frank Herbert’s classic science fiction novel, which tells the story of the son of a noble family who are responsible for protecting one of the most valuable and important substance in the galaxy. The original book came out in 1965 and went on to become one of the most popular and widely read Sci-Fi books of all time. For a very long time, the book was declared unfilmable – the density and complexity of the book was a major barrier to it being successfully made into a film.

The earliest attempt to adapt the film was in 1971, however the producer in charge of the project died in 1974, and production stalled. In the second attempt, the filmmakers planned to turn it into a 10-hour epic. Unfortunately, the project was also doomed to fail, as was the third attempt. Finally, in 1984, a new project started which led to the David Lynch directed film in 1984 – this version was very unpopular.

The 2021 Dune film represents the first time the book has been successfully adapted in the eyes of the fans. The film received highly positive reviews, and a sequel was greenlit shortly after the box office release.

The Matrix Resurrections

Perhaps one of the most highly anticipated, but least expected sequel in recent memory, The Matrix: Resurrections is the continuation of the classic Matrix trilogy. It all began in 1999, when The Matrix was released, and almost immediately became a Sci-Fi classic that would influence popular culture for a long time to come.

The film was extended into a trilogy the continued the story and expanded the world that was built in the first film. Many people were confused by the ending of the third film in the series, and much speculation has been made about what happened to the main characters. Those speculations are answered in full with the latest instalment, The Matrix: Resurrections, which was released just before Christmas.

The Mitchells Vs. The Machines

This is a film that has had some difficulties before release. Originally, the film was planned to be released to theatres by Sony Pictures in 2020 – this was just before the COVID-19 pandemic, and due to the fact that many venues were forced to close down, Sony decided to sell the distribution rights to Netflix. In April 2021, the film had a limited release in cinemas and then it went to Netflix

The story is of a dysfunctional family that has to fight their way through a robot uprising during a family road trip. The idea of robot uprisings has been popular ever since the first Terminator film came out in 1984, but this is one of the few times where the subject has been told in a funny way. . The film has received critical acclaim since its release.

Evangelion 3.0+1.0 Thrice Upon A Time

This 2021 Japanese animated film is based on the original animated series, Neon Genesis Evangelion, which is one of the most well known and well loved Japanese anime series ever made. The story is set in the future after a global attack was launched on humanity by a race of possibly alien beings – giant creatures that have immense and terrible powers. The story follows a 14-year-old boy who is made to pilot a giant robot in order to fight the invaders.

After several projects that attempted to re-write and present the story the way in which the writers had originally intended, a new series of films called Rebuild of Evangelion, was finally made. This series is a complete retelling of the original series, but with new animations, new scenes and settings. The final film, Evangelion 3.0_1.0 Thrice Upon a Time, is the fourth film in the new series.

The Arts and Tourism Writers Association of Ghana (ATWAG) held its handing over ceremony and new year party on Saturday, January 15, 2022.

The programme took place at the Accra Tourist Information Centre, with members of the association and other arts stakeholders in attendance.

The induction and handing-over ceremony was conducted by Mr Prince Osisiadan, a Lawyer, who urged the members to be wary of defamatory stories that may land them in trouble.

This comes after ATWAG elected new executive committee members on December 17, 2021.

The Chief Executive Officer of ImageBureau and host of Showbiz A to Z on Joy FM, George Nii Armah Quaye, was voted as President of the association. He took over from William Asiedu, a venerated journalist.

The Vice-President position was won by freelance radio and television host Livingstone Lotsu, who took over from Francis Doku, General Manager of MGTV (TV3 and Onua TV) and arts writer with Graphic Showbiz.

Hagar Gyebuwaa Owusu of the Ghana Broadcasting Corporation emerged as
the Treasurer of the Association, with Rebekah Awuah taking over from arts and entertainment journalist, Reagan Odei Ofosu Osarfo (Nana Reagan) as secretary.

Fashion designer, Vera Adu-Amaning also took over from Mustapha Nii Okai Inusah, a writer with modernghana.com as the organiser.

The Research Officer position for the next four years will be occupied by Stanley Awuku Wilson, a blogger with Ashaiman TV.

Citi FM’s Kwame Dadzie handed over the baton to entertainment journalist, Gloria Akpene-Acquah aka MzGee as the Public Relations Officer.

The out-going President, William Asiedu, in his address, recounted the hard work and dedication that went into building the association and admonished members to uphold the tenets of the profession and work towards making their work as arts and tourism writers more impactful.

Speaking at the ceremony, the new President of ATWAG, George Nii Armah Quaye promised he would do all things within his power to elevate the association from where the previous administration left off.

He, therefore, urged the members to put all hands on deck to make sure they achieve their desired goals.

About ATWAG

The Arts and Tourism Writers Association of Ghana (ATWAG) is an association of Ghanaian arts writers/journalists and media workers.

ATWAG seeks to promote arts, tourism and culture reporting in Ghana while developing the professional capacity and the welfare of its members.

ATWAG is also aimed at promoting co-operation and collaboration among its members and players in the arts, tourism and culture value chain.