Hi, welcome to Tech This Evening, an After-Work Tech Newsletter from Techparley Africa. Sure, there is a lot to unpack right now. Sit back, while I walk you through.
Top Story: FSD Africa Launches $30m Fund to Back Insurtech Startups Across the Continent
FSD Africa has unveiled a US$30 million Inclusive Insurtech Investment Fund (3iF), an initiative designed to open the way for more private capital into the continent’s underdeveloped insurance sector and close Africa’s widening protection gap.
Announced at the BimaLab Africa Insurtech Summit held in Nairobi on 26–27 November, the fund targets early-stage insurtech startups focused on expanding access, affordability and awareness of insurance, particularly in climate resilience, health and financial inclusion for underserved populations.
Kelvin Massingham, FSD Africa’s director of adaptation and resilience, said the fund aims to catalyse innovation for the many Africans who remain outside the formal insurance system.
“By investing in the next generation of insurtech pioneers, we are unlocking opportunities to expand access, affordability and resilience,” he said.
Other Tech News Stories You Should Read:
A Complete Guide to Applying for the Federal Government’s N50 Million Student Venture Capital Grant. Read now.
How to Haunt Funding in 2026: A Complete Guide for Startups. Read now.
Understanding Startup Equity and Founder Shares: Everything You Need to Know. Read now.
On Startup Spotlight:
Credlock Africa: How this Startup is Using Smartphones as Collateral to Provide Loans to Nigerians
Without traditional collateral or bank-verified credit histories, most entrepreneurs and small business owners across Africa cannot access reasonably priced loans. This problem is what inspired the co-founders of Credlock Africa, an Ilorin-based startup.
According to the startup, its goal is to build a trusted, scalable credit infrastructure that makes everyday assets, beginning with smartphones usable as collateral.
The company says it has deployed ₦1.5 billion ($1 million) in credit across 33 states, demonstrating strong repayment performance. According to CEO Dayo Fabayo, Credlock’s approach is to combine device-based collateral, a behavioural scoring system and debt-funded lending to create affordable, longer-term credit for the informal sector.
“We prioritise restructuring and graduated repayment plans. Our focus is on prevention, not recovery, and the repayment outcomes reflect that, sitting at a low single digit,” Fabayo noted.
Quadri Adejumo brings you all the details. Read here.
Also Read:
South Africa’s FlexWork Launches to Fix “Chaotic” Hiring as SMEs Battle Inefficiencies. Apply Now. Yakub Abdulrasheed brings us the details, here.
Quote of the Day:
“Any sufficiently advanced technology is equivalent to magic.” – Arthur C. Clarke.
Thank you for joining me yet again this evening. Stay safe, and see you tomorrow for the next tech newsletter.
Best, Quadri
