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Home Blog Page 5022

A Delivery Startup Launches Kwikstore App To Help Merchants In Africa Sell Online

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Kwik delivery is a start-up company that provides digital services to merchants in the fields of deliveries, e-commerce, and financial services. Recently, the company has expanded its services with the launch of its Kwikstore.

Kwikstore is an easy-to-use free e-commerce storefront solution that allows any African business owner, trader, social vendor entrepreneur, and SME to create their store in just 5 minutes, without any technical knowledge, giving customers the opportunity to run their business directly from their smartphone.

Social vendors can be able to link their Kwikstore to their social media accounts, automating sales, fulfilment, inventory management, and shipping, freeing them to focus on sales and marketing.

Kwikstore is a free-to-use feature of the Kwik delivery app that does not require any upfront payment or service fees other than the standard payment gateway fee. Through the Kwikstore app, merchants can use it to match their brand in a customized way.

Once an order is approved by the merchant, payment is automatically processed through the payment partners and the Kwik rider is automatically dispatched to the pickup location or the order can be picked up directly by the customer.

When merchants use the Kwikstore app, it is required for them to open a Kwik account, although the Kwikstore can be used independently on the Kwik delivery platform, which allows merchants to use the delivery solution of their choice to sell anywhere in Africa, also in areas not yet covered by the Kwik delivery platform.

Recall that the startup company closed a $2 million seed fund earlier in March, with plans to expand its services outside Nigeria. It is indeed great to see that the company has significantly made massive progress with its recently launched e-commerce platform.

Kwik is also working relentlessly to gain dominance in the e-commerce industry, as the company seeks to compete with African e-commerce giant Jumia and possibly displace them from the No1 position. Kwik has joined one of the few e-commerce digital players that are able to propose access to end-to-end fulfillment and delivery services to its customers.

Through its Kwikstore, African merchants are given the opportunity to grow their businesses with all the benefits that technology has to offer. Technological advancements have no doubt enhanced the standard and ease of business operation across the globe.

The e-commerce sector has so far been one of the major drivers of the Nigerian digital economy. It has been predicted that with the significant progress in the e-commerce sector in Nigeria, it is expected to hit about $75 billion in revenue per annum by 2025.

E-commerce has also been commended for attracting the services of investors who pump millions into the industry to set up essential technological advancements needed to drive the sector forward.

What is your journey? Tekedia Institute Has Programs To Take You There

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cover design car

What is your journey? Tekedia Institute is a top-grade school – and we can drive you to that journey. We have many programs on business management across all industries and domains. I invite you to pick one and join us. Details and costs here

  • Tekedia Mini-MBA (next edition begins on Sept 12, 2022)

  • Startup Masterclass: from start-up to unicorn

  • Tekedia Practice (agro, digital tech, renewable energy)

  • Tekedia Industries (agro, digital tech, new energy)

  • Tekedia Town Hall & Consultancy

  • DesignLab for Companies by Tekedia Learners

 

Amazon to Acquire Healthcare Company, One Medical, in A $3.9bn All-cash Deal

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Amazon announced on Thursday it has reached an agreement to acquire primary healthcare company One Medical in an all-cash deal valued at approximately $3.9 billion, deepening its delve into healthcare.

The US-based ecommerce giant has been working to expand its operation beyond its core businesses, with a growing interest in healthcare services.

Senior vice president of Amazon Health Services, Neil Lindsay, said the company thinks “health care is high on the list of experiences that need reinvention.” adding that it hopes to be one of the companies “that helps dramatically improve the healthcare experience over the next several years.”

One Medical operates based on membership to provide primary care service that promises customers “24/7 access to virtual care.”

The company operates in 25 major US markets and works with over 8,000 companies to offer medical services to its 767,000 members, according to its latest quarterly results.

Lindsay said Amazon believes “health care is high on the list of experiences that need reinvention.”

“We love inventing to make what should be easier and we want to be one of the companies that helps dramatically improve the healthcare experience over the next several years,” he said.

Amazon has been notably expanding its healthcare portfolio investment. The company acquired an online pharmacy PillPack for $750 million in 2018, before launching its own digital pharmacy in the United States.

In addition, Amazon has partnered with JP Morgan Chase and Berkshire Hathaway to develop Haven, an idea geared towards providing better health care services and insurance at a lower cost to workers and families at the three companies. But the effort failed last year.

Under the deal, Rubin will continue to be run by One Medical under CEO Amir Dan Rubin. The shares of one Medical’s parent, 1Life, moved up 69% to $17.13 on Thursday, just below the purchase price of $18 per share.

While the deal is still subject to regulatory approval, there is concern about private data management.

The American Economic Liberties Project in Washington said it’s unclear if Amazon will protect patients and their sensitive medical records.

“Allowing Amazon to control the health care data for another 700,000 plus individuals is terrifying,” Krista Brown, the group’s senior policy analyst, said in a statement Thursday. “Amazon has no business being a major player in the healthcare space, and regulators should block this $4 billion deal to ensure it does not become one.

The Federal Trade Commission (FTC) is working with lawmakers to enact a law that will limit big tech companies from using their financial power to acquire companies outside their core businesses. Meanwhile, Amazon and the rest are still having a field day.

Tekedia Capital Portfolio Startups Continue to Execute And Grow

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Earnings season is here – and Tekedia Capital portfolio startups are sending their quarterly reports. I am going to read dozens of these documents despite whatever my team is doing. When I read these reports, I “see” the states of the economies(Nigeria, Africa).  We have better data than some local government chairmen in Nigeria.

I am also happy that many changes we asked our startups to make have helped them. So, we continue to witness double digit growth despite slow-downs in many sectors.

This particular startup has been put into OUTPERFORM. In 2023, I hope to reveal that it has raised at least $50 million; the investors are already gathering because the startup is executing well. To learn what we do at Tekedia Capital, click here 

Bringing Transparency to Nigeria’s Downstream Oil & Gas Sector with Technology

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It is super-amazing. Filling (gas or fuel) stations in Nigeria and Africa, a new future has come. Our technology makes it possible to have 100% revenue assurance. No more leaks on Naira or fuel. Yes, at the end of every shift, we reconcile all payments and fuel dispensed in seconds. Technology is bringing transparency in the downstream oil & gas, and we invite owners of stations to trial our product. We’re running pilots across Nigerian cities; contact us on email on this site.

Our product was engineered from scratch and costs just 30% of competing foreign ones. We coded the firmware and that means we can add any feature that you want.

Station owner: you can see the amount of fuel in tanks, money received, etc, in real time on your phone. It is super-amazing.

Our technology now makes it possible for petroleum marketers to track inventory from depots to storage tanks and all the way to dispensing points. You know the locations of all the trucks, the storage capacities, etc in real time. We use a combination of satellite and GSM systems to build this integrated and synchronized system, supported by intelligent sensors.

We have also launched a payment system and are now recruiting fintech companies across Africa. If your fintech is integrated with our engine, in a fuel station that uses our technology, your user can buy fuel from a mobile app. Once the user pays, we will receive your payment packets, and immediately, we will send a token for you to render to your users (this happens instantly). Once that is done, when the user gets to the fuel station termina (if not already there), he/she shows a rendered QR  and our technology will authorize dispensing.

With this, you can be in Ibadan and pay for your driver in Lagos to go to a fuel station in Ikoyi to refuel the car; he will not need to touch any cash. Our technology is in production. But a formal launch date is coming. Check what I have written and get in touch; we are striking partnerships across Africa. This tech is baked by your fellow citizens in the lab of the people.

Nigeria: zero leakage, zero diversion guaranteed on fuel delivery and consumption - Tekedia

Building the Operating System for Payment in Nigeria’s Downstream Sector

Cloud Latency Intelligence

Look at this date below.

Our terminal monitoring AI indicated that there are transactions that were captured but they have not been sent to the cloud. This means that if the dealer checks the record, there will be variance. Now, our algorithm is indicating the variance and also telling the dealer that he should wait for the transaction to arrive in minutes, and recheck the transaction reports again. This is important in case there is a network issue that prevents that data hitting the cloud. 

Post the update, here is the final: new calculation is showing zero variances.