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Moove Partners Lori Systems to Deliver Affordable Vehicle Financing Across Africa

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Moove, an African mobility fintech, has signed an exclusive partnership with Lori Systems, the e-logistics company in Africa.

The partnership marks Moove’s first foray into the logistics industry, building on rapid growth over the last 15 months in car financing, as it leverages its revenue-based financing model to bridge the financing gap across one of the continent’s most highly fragmented sectors.

Moove and Lori Systems’ partnership will focus on delivering access to affordable vehicle financing within Africa’s trucking and logistics industry where penetration for truck financing is lower than one percent. By combining Moove’s unique revenue-based financing model and credit-scoring technology with Lori Systems’ data-driven logistics marketplace, both companies aim to increase the capacity of transporters to match demand across East and West Africa.

The launch in Kenya will be followed by a rollout in Nigeria using the same revenue-based financing and credit decision model that Moove has developed as Uber’s exclusive vehicle financing and vehicle supply partner in sub-Saharan Africa.

Loans will be allocated to a pool of highly rated and vetted transporters on Lori Systems’ platform, allowing them to expand their fleet, as well as through a drive-to-own program for all truck drivers. With up to 100% of the purchase price underwritten by Moove, customers will be able to pay back the loans over 48 or 60 months using a percentage of their weekly revenue.

Commenting on the exclusive partnership Ladi Delano, co-Founder and CEO of Moove said: “We knew from the get-go that our mission to democratise vehicle ownership would take us beyond cars.

“We’re thrilled to be partnering with Lori Systems to empower truck drivers in Africa, and are excited about the positive impact our revenue-based financing solutions will have on their lives.

“Lori’s efforts to leverage data-driven and tech-enabled solutions have recorded significant progress in driving further efficiency in the African logistics industry; this has been impressive and very much aligns with our mission.”

Launched in 2017, Lori Systems has been at the forefront of digitizing logistics on the continent and has successfully driven efficiency across the fragmented East and West African markets by digitizing discovery and providing end-to-end visibility for customers and transporters, achieving savings of up to 20%. Lori Systems has built a network of thousands of vetted transporters to move cargo in over 12 countries.

“Lori’s mission is to drive down the cost of goods in frontier markets. We’ve grown a marketplace that brings transparency and data to the forefront of the continent’s critical haulage industry.

“The partnership with Moove enables us to design innovative and flexible financing options, using data we have captured over the years, to allow transporters fund new trucks and increasingly grow their fleet and businesses,” said Uche Ogboi, CEO of Lori Systems.

“The logistics industry in Africa has for so long been underserved by financial providers. By partnering with Moove to unlock access to financing, we can provide an even more efficient service, match the growing customer demand in the market, whilst lowering the costs for goods. It’s as simple as that.”

Co-founded in 2019 by serial entrepreneurs, Ladi Delano and Jide Odunsi, Moove recently reached the milestone of 1 million Uber trips in Moove-financed vehicles with over 16 million kilometres travelled in Lagos, Accra, Johannesburg and Cape Town.

Backed by leading VCs including Speedinvest and Left Lane Capital as well as global institutions such as the International Finance Corporation, Moove has raised a total of $68.2 million in funding to date. Through this partnership with Lori, Moove is focused on driving efficiency within the industry and empowering truck drivers across the continent through customer-centric products designed to transform African transportation and logistics.

Moove is an African mobility fintech that is democratizing vehicle ownership by providing revenue-based vehicle financing to mobility entrepreneurs across Africa, where limited access to vehicle financing has resulted in the lowest per capita car ownership in the world. The company is Uber’s exclusive vehicle financing and vehicle supply partner in sub-Saharan Africa.

Lori is a tech-driven logistics company that seamlessly coordinates haulage across frontier markets with a mission to drive down the costs of goods. Lori’s marketplace efficiently connects transporters to shippers and has moved billions of dollars worth of cargo on the platform to date.

The platform has significantly improved logistics transparency, flexibility, reliability and costs. Lori operates in over 12 countries across East and West Africa and will expand across Southern Africa through a landmark partnership, growing its presence to nearly 20 countries.


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Researchers Develop Innovative Treatment for Malaria

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An international team of researchers have introduced a groundbreaking drug, known as the covalent kinase inhibitor, which shows promise in combating treatment-resistant malaria.

Researchers Develop Innovative Treatment for Malaria

Developed by chemists and bioscientists from the University of Glasgow, this innovative drug could surpass current medications by effectively targeting and disabling the proteins used by the Plasmodium falciparum parasite to replicate within the human body.

This is according to a report titled “Targeting Pf CLK3 with Covalent Inhibitors: A Novel Strategy for Malaria Treatment.”

The development, led by chemists and bioscientists from the University of Glasgow, was outlined in a November publication in the “Journal of Medicinal Chemistry.”

According to the researchers, covalent inhibitors form bonds with proteins, usually irreversibly modifying them, and this new drug could be more effective than current medications at all stages of malaria infection.

The new drug works by permanently disabling a protein that Plasmodium falciparum, one of the mosquito-borne parasites that spread malaria, uses to replicate itself inside the human body.

The drug also has the potential to work as a single-dose treatment, a significant improvement over existing therapies.

This breakthrough marks the first adaptation of an approach from cancer treatments to tackle malaria.

The team expressed optimism that the parasite is unlikely to develop resistance to the new drug, which targets the protein Pf CLK3 and disrupts the parasite’s ability to splice RNA.

The researchers, including Prof. Martins Emeje from the Nigerian Natural Medicines Development Agency and Prof. Oyewale Tomori from the West African Academy of Sciences, emphasise the importance of regular calibration and accreditation for medical laboratories to ensure accurate results and reliable treatment.

 

 


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Nigeria to Host ICEGOV 2025, A Milestone in Digital Governance and Global Leadership

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The Federal Ministry of Communications, Innovation & Digital Economy, Nigeria has been officially confirmed as the host country for the 2025 International Conference on Theory and Practice of Electronic Governance (ICEGOV) edition.

This confirmation by the United Nations University Operating Unit on Policy-Driven Electronic Governance (UNU-EGOV) marks a historic milestone in our nation’s digital transformation journey, showcasing Nigeria’s leadership in digital governance, innovation, and technological advancements on the global stage.

ICEGOV is a prestigious global conference that convenes governments, academia, international organisations, industry leaders, and civil society to exchange insights, research, and best practices in electronic governance.

Hosting this event presents a unique opportunity to strengthen Nigeria’s digital ecosystem, foster multidisciplinary collaborations, and drive policy innovations that will shape the future of governance in Africa and beyond.

Speaking on this momentous achievement, the Honourable Minister of Communications, Innovation & Digital Economy, Dr. ‘Bosun Tijani, stated: “Nigeria’s selection to host ICEGOV 2025 is a recognition of our efforts to drive digital transformation and innovation in governance.

“I am a firm believer in the importance of the academia and research in supporting global discussions on e-Governance and we have seen this in some of the input in government initiatives like the National AI Strategy and the National Digital Economy and e-Governance Bill which are laying the foundation for the growth of Nigeria’s Digital Economy.

“As we prepare to welcome you all to Nigeria, we look forward to very useful outcomes that will be beneficial for the growth of digital governance and policy development globally.”


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MTN Nigeria Foundation Supports Education with Donation of School Supplies to 1000+ Students

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MTN Nigeria Foundation recently embarked on an initiative to donate support materials to nominated schools in seven states across the six geopolitical zones, including Edo, Oyo, Katsina, Nasarawa, Bauchi, Anambra and Enugu.

Odunayo Sanya, Executive Secretary, MTN Foundation

The donations form part of the foundation’s Learning Support Materials Initiative (LSMI) aimed at improving learning experiences for students nationwide.

The MTNF Learning Support Material Initiative (LSMI) is a program created to empower students with essential academic tools, enabling them to reach their highest academic capabilities. Over 1000 students received vital resources such as school bags and exercise books, with the schools also receiving additional equipment like umbrellas and Wi-Fi routers to aid the implementation of technology in learning.

The initiative forms part of MTN Foundation’s broader commitment to youth empowerment and educational development in Nigeria. Over the years, the foundation has invested in education through several initiatives. These include the MTN Scholarship Scheme for science and technology students and blind scholars at the undergraduate level. Additionally, MTN Foundation’s Science and Technology Lab Project (STLP) has resulted in the refurbishment of 102 science laboratories in public secondary schools across the country.

Speaking on the Learning Support Material Initiative (LSMI) and the Foundation’s dedication to national development through education, Executive Director, MTN Foundation, Odunayo Sanya said “At MTN Nigeria Foundation, we believe that education is the cornerstone of growth and development, and all students deserve access to the resources necessary to unlock their full potential.

“This initiative emphasizes our commitment to fostering an enabling environment for learning and supporting access to quality education.”

The impact of these donations was evident and appreciated by students who expressed that the learning materials would aid their learning process and educators who affirmed that they would be put to good use.

This initiative demonstrates how corporate entities can play pivotal roles in supporting societal needs while promoting sustainable development within the communities they serve.

The Learning Support Materials Initiative by MTN Foundation highlights its unwavering dedication towards empowering young minds across Nigeria. Through strategic educational support programs, the foundation contributes to bridging resource gaps faced by several public institutions and shaping brighter futures nationwide.


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