- Today's edition of #TCDaily is all about upgrades! Amazon Web Services has opened its first Africa Skills Centre in Cape Town, South Africa. Meanwhile, Google will invest $1.5 million in upskilling 20,000 Nigerian youths and creating 1 million digital jobs.
- Bosun Tijani has been named the minister of communications, innovation, and digital economy. The 46-year-old tech entrepreneur and investor is now tasked with driving impactful policies to support the Nigerian tech ecosystem.
- tarting today, M-PESA will become immediately available to 4 million Ethiopians.
Stanley Njoroge, interim CEO of Safaricom Ethiopia, said, “We are excited to go live with M-PESA in Ethiopia and start providing Mobile Financial Services to our customers
- While the markets moved quickly today, many observers remained at a loss about what was driving the gains. NNPC Limited confirmed today that it secured a $3 billion emergency crude repayment loan from Afrexim Bank. The thinking is that the loan will clear the current FX backlog
- After Jumia shared its financial results for the second quarter of 2023, investors reacted negatively, causing its shares to close at a 17% low on Tuesday. Jumia reported a 15% decline in revenue, with other metrics also declining.
- Internships undoubtedly offer great experiences, but they do come with their fair share of wahala. In this edition of #EnteringTech🚀, we take a look at some of these challenges, and how you can avoid them as you grow with internships.
- Africa’s creative sector is faced with challenges such as inadequate infrastructure, limited access to funding and markets, intellectual property issues, and a dearth of enabling regulations
- Kenya's National Assembly received a petition to ban TikTok. But many have suggested that a complete ban may be impossible due to the growing socioeconomic significance of the platform among young people.
- Kenyan lawmakers are probing TikTok after a private citizen petitioned them to look into the app for promoting violence, hate speech & sexual/vulgar content. Per the petition, TikTok is threatening Kenya's moral values & should be prohibited.
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- July’s inflation was again driven primarily by an increase in the prices of food and nonalcoholic beverages as food inflation for the month also climbed to a worrying 26.98%.
- Noel K. Tshiani is the managing director of Congo Business Summit, a flagship conference and expo organised by Congo Business Network. The network works with startups, corporations, and government officials in the Democratic Republic of Congo and abroad. With a profound dedication to innovation,…
- Jumia was affected by worsening macroeconomic conditions in Nigeria, one of its biggest markets. That resulted in revenues of $48.5m for the quarter, down from $57.3m in Q2 2022 and a lower order volume of 6.5 million vs 10.3 in Q2 2022. Its active customers also reduced by 1 million, with 2.4…
- During Buhari’s tenure, the average Nigerian saw their annual income shrink by nearly one-third, from $3,222 to $2,200—one of the steepest declines recorded by any country over that time span.
- In today’s world of fundraising, one thing is apparent: pre-seed rounds are taking longer to close. First-time founders need to rethink their business models to move from revenue into profitability. Storytelling is important but not many can do so.
- Eric Asuma, one of the co-founders of investment startup Hisa Inc. has stepped down as CEO. Asuma will focus on a new venture in partnership with the online financial news publisher, the Kenyan Wall Street, which he co-founded.
- It's all money news in today's edition of #TCDaily. Incubator Founders Factory Africa raised $114 million to support African startups, and Mastercard is acquiring a minority stake in MTN's MoMo. Kenya has raised daily transaction limits for M-PESA users.
- In one month, the Undress app hit over 7.6 million visits, with users spending 21 minutes per session. Users of TikTok, one of the world’s most engaging social media platforms, spend an average of over 10 minutes per session on the app.
- According to the telco, this adjustment is set to cater to businesses with higher transaction values, particularly small and medium enterprises, as the number of cashless transactions grows
- According to data from Google Trends, South Africans’ interest in artificial intelligence is on the rise. The data measured the number of searches about the technology in the country.
- The University of Cape Town has produced the most number of CEOs of tech startups in Africa. TechCabal asked alumni and industry experts about the institution's secret sauce
- GoGPayslip platform helps Ghanaian government employees to facilitate the process of viewing and managing their electronic payslips. Here's a guide to efficiently navigate it and check your GoG payslip or e-Payslip in Ghana.
- Founders Factory Africa, an African early-stage startup accelerator and venture studio, has raised $114 million to fund African startups. The studio says it will become sector-agnostic and double down on addressing gender imbalances with the new funding.
- New University of Ibadan students making use of digital infrastructure, could alongside other mandatory fees like Tech Levy, be paying as much as ₦295,500. See the breakdown of the revised fees for old and returning students of the University of Ibadan.
- South African mobile network operator Vodacom has responded to a decision last week by the country’s competition regulator to halt its acquisition of Maziv, a holding company whose assets include fiber network operators Dark Fibre Africa (DFA) and Vumatel.
- KRA is running an online auction to sell overstayed cargo at the port of Mombasa. The auction is running from Monday 14th August 2023 to Sunday 20th August 2023,” KRA posted on X.
- Two years after investing $100 million in Airtel’s mobile money business, Mastercard has agreed to buy a minority stake in the fintech arm of MTN another telecom company in Africa.
- FMCG is beset by economic headwinds that is altering decades-old businesses. How will it affect the digitisation of how consumer goods are distributed?
- Taxi drivers in Cape Town have called off an eight-day strike that's left 5 dead, many stranded, and $6 million lost in income/properties. The drivers ended the strike after agreeing to the same law they protested against in the first place.
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- Obi Ozor, the CEO of Kobo360, a logistics startup, has been appointed as commissioner of transport in Enugu, Nigeria. This comes a week after Bosun Tijani’s ministerial confirmation, signifying new heights for the country’s startup ecosystem.
- In Q1 2023, Artificial Intelligence took centre stage globally and particularly in Africa, as the sector yielded Africa’s biggest acquisition of all time in a mega deal worth $682 million. However, the second quarter of 2023 took a different turn, according to research findings by TechCabal…
- According to Onafuye, ChowCentral has $80,000 in monthly revenue and currently serves thousands of customers in Lagos Island and Surulere, Lagos mainland. Onafuye says there are plans to expand into other locations in the country.
- The week-long ‘Taxi Stay Aways’ grounded public transportation to a halt even as Cape Town hosted the Netball World Cup. And may have forced ride-hailing drivers who are frequently the targets of attacks to take a (public) side.
- The apex bank has made its audited financial statements publicly available for the first time in seven years. It indicates how Godwin Emefiele’s time as governor fostered a lack of transparency. Given the Central Bank's prominent role in Buhari’s eight years of governance, its financial statements…
- Moove is not slowing down. The African automobile financing startup has raised $76 million in a new round. This comes after Moove raised about $183.3 million in 2022 across four separate funding rounds.
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- Moove, an African automobile financing startup, has raised $76 million in a new round. The startup says it will use the funding to help achieve profitability.
- If you have been unable to subscribe for Twitter Blue because of prompts like “the service is not available in your region” like most Nigerians are experiencing, this article is for you. We detail how to apply for Twitter Blue in Nigeria and Africa in general.
- The Knife Fund III comes at a time when growth-stage capital has been hard to come by for South African startups. Some experts in the ecosystem have even pointed to the shortage as the reason why the country’s startups tend to exit too early.
- Contrary to trending misinformation, having Twitter Blue verification doesn't automatically make you eligible for the viral revenue share. There’s more. Here, we concisely highlight all you need to easily enroll and benefit from the ad revenue share programme:
