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AI ’FinChatBot’ Startup Secures $1.6million Investment in South Africa

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Investors have swung in and offered Johannesburg-based AI fintech startup, FinChatBot a $1.6million grant to help expand its expansion into West Africa and Europe.

FinChatBot got the grant from Kalon Venture Partners, a leading South African venture capitalist,  Mauritius-based Compass Venture Capital and French investment holding company Saviu Ventures.

On realising the funds, FinChatBot co-founder and CEO, Antoine Paillusseau said “We are grateful for the support of our investors who believe in our vision to become the leader when considering selling and servicing financial products with the use of conversational AI solutions.”

By implementing our solutions, he adds that financial service providers can double their conversion rates, reduce operational costs by more than 60%, retain customers better, and gather more data about customers which can aid product innovation and customer retention.”

This funding will go into expanding the creation of conversational AI solutions for the financial service industry into West Africa and Europe. FinChatBot plans to open offices in France, the UK, and Portugal in the not-so-distant future.

In addition, it will aid the growth of FinChatBot’s team by a reported 50 employees in various sectors of the company including project management, skills in engineering, sales, and more.

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NiDCOM Congratulates Nigeria’s Adeyemo on Nomination as U.S. Deputy Treasury Secretary

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Nigerians in Diaspora Commission (NiDCOM) has congratulated Nigerian-born Adewale Adeyemo on his nomination by President-elect Joe Biden as U.S. Deputy Treasury Secretary.

Chairman/Chief Executive Officers of NiDCOM Mrs Abike Dabiri-Erewa congratulated Adeyemo in a statement by the spokesperson Abdur-Rahman Balogun, Head of Media and Public Relations Unit of the commission.

According to Dabiri-Erewa, Adeyemo, a former senior international economic adviser during the Obama administration has spent his career working with organisations that are at the intersection of public policy.

The NiDCOM Boss said that Adeyemo’s nomination by Biden would make him the first ever black person to be the Deputy Secretary of the U.S. Treasury.

She said that the nomination of the Nigerian did not come as a surprise going by the success he had attained in the various positions he held before now.

She wished Adeyemo a smooth, hitch-free senate confirmation and unparalleled success in the job.

Before working in the Obama administration, Adeyemo worked as Editor at the Hamilton Project where he served as Senior Advisor and Deputy Chief of staff to Jack Lew of U.S. Department of Treasury.

He currently serves as the President of the Obama foundation but before his appointment as the President of the Obama Foundation, he served in various positions in the Obama administration.

In 2015, he was appointed to concurrently serve as Deputy National Security Advisor for International Economics and deputy director of the National Economic Council.

He was Assistant Secretary for the International Markets and Development at the Treasury department.

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Pope Francis Reacts To Nigeria’s Zabarmari Massacre

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Pope Francis

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Lightning Kills Four In Mozambique

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No fewer than four people have been killed by lightning strikes in Mozambique’s western province of Tete, the Institute for Disaster Management (INGC) announced on Wednesday.

News Central reports that Tete shares a border with neighbouring Malawi.

According to the institute, the victims include an elderly woman and a three-year-old child. One other victim was seriously injured and a residence set ablaze.

The incident follows a rainstorm accompanied by strong winds that left a trail of destruction in southern Mozambique.

Tete’s National Disaster Management Institute delegate, Alex Angelo, said the torrential rain also caused damage in Maputo province on Tuesday and early Wednesday morning.

He added that thunderstorms, wind and heavy rain brought down trees and power poles and damaged public infrastructure in the districts of Matola, Boane and Marracuene.

The storm also destroyed homes, uprooted trees and electricity poles and blew away the roofs of some schools and a local prosecutor’s office.

The destruction occurred mainly in four districts within the province.

The meteorological authorities predict the bad weather may continue for four more days.

The situation is likely to cause flooding in the cities of Beira and Dondo, which were devastated by cyclone Idai last year, and cause erosion in Chimoio.

Meteorologist Acacio Tembe says the torrential rains are beginning a week earlier than expected and they will continue for long.

He added that the rains may cause the flooding of the Buzi and Pungue rivers.

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