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Ibnsina Pharma secures 75% stake in online marketplace 3elagi Tech –

Egypt pharmaceutical distribution companies, Ibnsina Pharma, has acquired a 75% stake in a portfolio company and a graduate of Falak Startups, 3elagi Tech….

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One of Egypt’s largest pharmaceutical distribution companies, Ibnsina Pharma, has acquired a 75% stake in a portfolio company and a graduate of Falak Startups, 3elagi Tech. 

An Egypt pharmaceutical distributor acquires 75% stake in local online pharmacy marketplace 3elagi

The new partnership will promote the growth of 3elagi Tech, accelerate the startup’s digital transformation, and strengthen its digital footprint while providing people access to medication without having to leave their households.

The majority of the capital includes Egyptian Pound 25-million ($1.6-million) which will contribute to financing future expansions. 

The 25% stake that remains will continue to be managed by the founders. 

Ibnsina Pharma

Ibnsina Pharma was established in 2001 by Omar Abdel Gawad and Mahmoud Abdel Gawad. Ibnsina Pharma is an Eygpt pharmaceutical distribution company that issues a portfolio of pharmaceutical products from more than 350 Egyptian and multinational companies. 

Products and services are provided to over 42 000 customers that include hospitals, wholesalers, pharmacies, and retail outlets. The company has roughly 680 vehicles that transport high-quality pharmaceutical goods and services to customers across 62 nationwide sites. 

The 75% stake acquired is the second step in their digital transformation plan after launching an app in July that connects pharmacies with patients. 

In an official press release, Mohsen Mahgoub, Ibnsina Pharma’s Chairman, commented on the global pandemic driving digital transformation and easier access to medication for individuals.

“This acquisition came in line with the growing importance of the eCommerce during the COVID-19 pandemic and the social distancing measures. The lockdown that was implemented in most of the world, highlighted the need to give patients access to have their medications without having to leave their homes. 

This strategic move supports the state efforts to apply Track & Trace system in order to prevent counterfeit of medical drugs and illegal drugs from filtering into the system by following the drugs at every step of the supply chain.

In addition, it supports the national agenda “Egypt Vision 2030” which reflects the state’s long-term strategic plan to achieve sustainable development through knowledge-based economic growth and digital transformation.

Investment strategies

Investment in the digital healthcare sector is a first for Ibnsina Pharma. The distribution company aims to regulate operations that will benefit stakeholders. 

Omar Abdel Gawad, Co-CEO of Ibnsina Pharma, commented on building the pharmaceutical sector through digitisation and how the company has surpassed its competitors in the field. 

“As part of our strategic objectives directed by the Board of Directors, we pursue value-adding acquisitions adjacent to our core operations in order to strengthen our business. This agreement is a proof point of implementing our investment strategy in the healthcare sector. It is also in line with our objective to strengthen our competitive edge in the area of digitalization to create meaningful innovations for the entire pharma sector” said Omar Abdel Gawad Ibnsina Pharma’s Co-CEO.

3elagi Tech’s application

3elagi Tech launched an application in July that allows clients to connect with pharmacies to purchase medication online. The app ensures a user-friendly experience for customers and provides a clear layout to easily navigate. 

Pharmacists can order 24/7 and receive information around product availability and receiving time. Balances and invoices can also be monitored on the app.

The increase in the capital gives 3elagi Tech the opportunity to increase the number of users and registered pharmaceutical companies using their app. The objective is to build the app into a platform for online orders. 

Mahmoud Abdel Gawad, Co-CEO of Ibnsina Pharma, explains how the application works and how it doesn’t favour specific pharmaceutical companies.

“The application is a new service that links the pharmacies with clients willing to order medicines and cosmetics online. The client will have the option to choose which pharmacy he wants to order from, consequently, the order and the invoice will be issued from the pharmacy to be delivered to the client at the official price. This means that the application doesn’t compete with pharmacies or favor specific pharmacies, on the contrary, it will boost orders to pharmacies and will increase the competitive advantage of small and medium-size pharmacies all over Egypt. We aim the have all the pharmacies in Egypt on the application whether the pharmacy is ibnsina pharma’s client or no” 

Benefits of the partnership

Ibnsina Pharma has been operating for almost 20 years, serving more than 40k pharmacies across Egypt. The partnership between Ibnsina pharma and 3elagi Tech will drive distribution in digital services. 

Mostafa Hamouda, 3elagi Tech Managing Director, celebrates the partnership with Ibnsina Pharma.

“We are excited to partner with ibnsina pharma, the fastest growing pharma distributor in Egypt with its high efficiency and strong distribution capabilities. We are confident that choosing the right partner whose values and strategic vision are aligned with our own will transform the application into a full-fledged-healthcare platform.”

Ibnsina Pharma offers a range of services to suppliers. The app operates across 62 sites nationwide, allowing access to safe and high-quality pharmaceutical products. 

Youssef ElSammaa, CEO of Falak Startups, explained their excitement to be apart of accelerating tech startups in the marketplace. 

“As shareholders, we are excited with the deal which is compatible with Falak Startups‘ mission to empower talented and ambitious early-stage tech startup founders and help them thrive in the region’s rapidly changing entrepreneurship landscape powered by the Egyptian Ministry of International Cooperation and it’s venture capital arm, Egypt Ventures.”

East African women’s health tech startup secures $1-millionNew partnership to expand e-logistics technology solutions across Africa

Featured image: freestocks via Unsplash 

Source: https://ventureburn.com/2020/11/ibnsina-pharma-secures-75-stake-in-online-marketplace-3elagi-tech/

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Local emotional intelligence app users significantly grow

It’sOk, an innovative tech startup that aims to promote emotional intelligence among students has experienced exponential growth.

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Based in Johannesburg, It’sOk, an innovative tech startup that aims to promote emotional intelligence among students has experienced exponential growth in the number of the users of its unique and cutting-edge platform.

ItsOk experiences massive growth in users in SA

With its hard launch only taking place a mere few months ago in March with users from a single school, King David Victory Park, the app has grown tremendously since then.

In an interview with Ventureburn Cody Gordon, co-founder, and CEO of It’sOk explains;

“It’sOk had its hard launch this March with 50 students in King David Victory Park. Since then, we have experienced a huge amount of growth both on our product side and our school client base. In 2022 we will have 10 000+ users on our app. These users are a combination of parents, teachers and students.”

According to reports from the tech startup, it will be present in the follow institutions in 2022; the Crawford International group, St Peter’s Boys and Girls, Centennial Schools, King David Victory Park, Uplands College and a few Curro schools.

Not only is the app being utilised by in-person teaching but also through online schools.

“We’ve also seen our app making a huge positive impact in schools of all backgrounds for example, The Tomorrow Trust students, which comprises of orphaned and vulnerable children all have access to It’sOk,” adds Gordon.

With innovation and emotional intelligence growth for students at the forefront of the startup focuses, Gordon explains that the app has been upgraded to meet the needs of the schools and their students.

“An example of this is that we have now developed and automatic flagging system for schools to identify at risk students. Strategic people in the schools arat-riskied of these students and this allows the school to help these students and develop specific interventions instantly,”

ItsOk

ItsOk is a tech startup that has created an innovative emotional intelligence app that is designed specifically for a school environment.

The tech startup has combined the power of technology with a holistic approach to promoting emotional awareness and intelligence among young students in South Africa.

With many institutions reaping the benefits of employing ItsOk’s platform with their students, Justin Attlee, St Peter’s Boys – Head of Pastoral Care highlights the impact that it has had on their learners.

“The huge value our schools are seeing in our technology is that the students now have a dedicated time each day to develop their emotional intelligence through our app, students now have a safe place to express how they are feeling and receive assistance when they need it. The schools are now also able to be proactive in their mental wellness strategies in the school based on the It’sOk data. This allows the school to be proactive instead of reactive in dealing with student emotions, “Thanks so much for the weekly feedback. This is giving us great insight in how the boys are feeling and allowing us to be proactive in implementing interventions.”

Read more: SA food tech startup partners with V&A Waterfront

Featured image: (Left to right) Cody Gordon, CEO and Michale Dukes CTO of It’sOk (Supplied)

In an interview with Ventureburn Cody Gordon, co-founder, and CEO of It’sOk explains;

Source: https://ventureburn.com/2021/10/local-emotional-intelligence-app-sees-huge-growth/

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SA fintech partners with rising global fintech to foster financial inclusion in SA –

Ukheshe Technologies has partnered with Chipper to help in the global fintech’s rollout of digital payment services and products.

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Innovative and ground-breaking local fintech Ukheshe Technologies has partnered with new-kid-on-the-block Chipper to help in the global fintech’s rollout and implementation of digital payment services and products.

Ukheshe has partnered with Chipper

The products which Chipper cahs aims to roll out include free and unlimited peer-to-peer payments across South Africa along with added benefits such as purchasing airtime, data and also the ability to legally purchase and sell cryptocurrency. Chipper’s service and digital payments aim to be a game-changer among the local community.

Not only will the partnership yield new fintech services for locals but it also will enable effective and safe financial transactions across the continent. The partnership aims to work in harmony allowing existing customers of Chipper to use this function as it will incorporate Ukheshe’s Eclipse API framework.

Clayton Hayward, CEO of Ukheshe comments on the partnership with Chipper.

“Ukheshe’s Eclipse API provides access to payment technology, products and services – all from one convenient platform. The rapid shift towards innovative digital-first solutions is undeniable and we are thrilled to partner with Chipper, a company that shares our vision and enthusiasm for credible, seamless payment solutions that drive the payments revolution in Africa.”

Chipper

Founded a mere three years ago, the ‘rising start’ tech startup has been labelled as the continents ‘biggest and fastest-growing payment app.

With Chipper users are able to easily conduct instant no-fee local and cross border money transfers and discounted airtime purchases.

Since its official launch, Chipper claims to have over four million users in eight countries in Africa and the UK.

With financial inclusion at the forefront of the aims of both of these startups, the partnership will build on fostering financial inclusion by creating accessible financial digital solutions for individuals in Africa

“The relationship between Ukheshe and Chipper aims to spearhead digital-first fintech solutions made in Africa to broaden access and financial inclusion for those who need it most. Our digital payment solution supports wallet functionality and will offer much-needed simplified payment solutions that allow users to send and receive cross-border payments safely, quickly, and efficiently, ” concludes Hayward.

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Featured image: Clayton Hayward, CEO of Ukheshe (Supplied)

Clayton Hayward, CEO of Ukheshe comments on the partnership with Chipper.

Source: https://ventureburn.com/2021/09/sa-fintech-partners-with-rising-global-fintech-to-foster-financial-inclusion-in-sa/

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Startup partners with Telkom to launch translation platform for SA languages

Telkom has partnered with SA startup Enlabeler to launch an AI platform that translates speech into text and provides transcription services for local languages.

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Telkom has partnered with South African startup Enlabeler to launch an AI platform that translates speech into text and provides transcription services for local languages.

The platform, called izwe.ai, was unveiled at the AI Expo Africa 2021. It is described as “a multi-lingual technology platform that transforms your audio and video data to text, captions or subtitles in your local languages”.

Telkom and Enlabeler collaborated to create the platform, with the aim of providing a way to bridge the language gap in a variety of industries.

“With Enlabeler, we have built a solution that can offer a seamless transcription experience with highly localised and reliable outputs, which help us deliver as a strategic partner for our clients,” Telkom Executive of Data Science Stefan Steffen said in a statement.

“Working with an agile startup like Enlabeler has helped us accelerate our long-term plans to unlock this market segment. ”

Enlabeler

Enlabeler is a data labelling and annotation solutions provider.

Founded in 2019, the company describes itself as Africa’s first remote data labelling community. It employs people around the country to augment and train the AI solutions and services provided by the company.

The company provides video and image annotation services, computer vision and object detection models, entity extraction from text datasets, as well as translation and transcription services.

The izwe.ai translation platform

According to Telkom, the izwe.ai platform has a unique ability to interpret South African accents. It also uses machine learning to constantly improve its translations.

The aim of the platform is to provide transcription and translation across a range of industries. These include education, academia, legal services, and media production.

“This technology can be a game-changer in business, as well as education, government, and healthcare delivery,” Telkom head of Innovation Dr Mmaki Jantjies said in a statement.

Meanwhile, Telkom Foundation CEO Sarah Mthintso highlighted the education benefits of the service.

“STEM subjects are the foundation for the careers of the future, but to truly drive digital transformation in South Africa, we need learners to be able to learn in their home language,” Mthintso said in a statement.

“That’s where AI-driven speech services are so important.”

Translation and transcription service launch

The service will be launched in a phased approach. The first phase includes the launch of izwe.ai and the collection of information from potential clients via survey.

The service is offering five hours of free machine transcription in exchange for the completion of the survey.

The second phase will include the release of the machine transcription model.

“In release 2 you will have access to a market-leading machine transcription model to transcribe your files with a click of a button,” the service says on its website.

The third phase will include the implementation of human input into automatic transcription outputs. Finally, phase four will include the launch of additional services.

You can find out more about the platform on the izwe.ai website.

Feature image: Ventureburn

Read more: Fairwork Project puts out call for Pledge supporters

Read more: African global business services sector to grow to $19.8 billion by 2023 – research

Source: https://ventureburn.com/2021/09/startup-partners-with-telkom-to-launch-translation-platform-for-sa-languages/

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