- After years of absence, Uber has introduced M-PESA payments on its platform, allowing riders to settle their cab fare using the mobile money service.
- Loosening control of the Naira was a crucial step in eliminating Nigeria’s multiple exchange rate windows. Yet, two months after a Naira float that was supposed to unify rates, a significant arbitrage is emerging again.
- The BNPL market in Kenya has long been dominated by two companies: Aspira and Lipa Later. The market's growth has been driven by the adoption of digital payment solutions and the rise of ecommerce platforms.
- ChowCentral, a food-delivery startup in Nigeria, is one of three African startups selected for Y Combinator's summer 2023 class. It extends Y Combinator's bet on food delivery in Africa.
- TechCabal spoke to Honorable Felix Mutati, Zambia’s minister of technology and science, about what policy measures the country has employed to boost technology, the challenges the government has faced in this process and how they have addressed them.
- In July 2023, 23 African tech startups raised $132.2 million from 25 fully disclosed raises. Compared to July 2022’s $239.7 million total raise, this represents a 44% YoY decrease.
More in #TCDaily.
- Worldcoin says data from the iris scans will be hidden with encryption technology and the biometric information deleted. But privacy experts and even Vitalik Buterin, founder of Ethereum, have raised doubts mainly about how trusted the orbs are.
- Access to credit facilities, business tools, and payment options is a problem for many SMEs in Nigeria, particularly those operating in the unorganised sector. Traction, a Nigerian-based startup, is addressing the challenge.
- Builders—who have been accused of romanticising the blockchain—and critics now agree on one thing: for Africa, blockchain is not just a nice-to-have but an essential solution to some of its problems. But what does the next-generation blockchain technology look like?
- 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,…
- Remedial Health has raised $12 million in Series A funding—a mix of debt and equity—led by US-based venture capital firm QED Investors and Ventures Platform. The investment represents QED’s second investment in an African startup and Ventures Platform’s first Series A investment.
- By March 2024, Nigeria plans to disburse a $64 million grant to 1,300 MSMEs. Per President Tinubu, 100,000 MSMEs and startups will also share a $98.6 million fund by applying for ₦500,000 ($657) to ₦1 million ($1,315) loans.
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- N125 billion has also been earmarked to “energise” the informal sector especially micro, small, and medium-sized enterprises (MSMEs). “Out of the sum, we will spend N50 billion on a Conditional Grant to 1 million nano businesses between now and March 2024. Our target is to give N50,000 each to 1,…
- Kenyans are queuing in shopping malls to scan their iris in exchange for Worldcoin tokens worth 7700 Kenyan Shillings. And crypto firms in Kenya are riding on the coattails of Worldcoin to recruit users who want to change the free tokens to cash.
- At least two drivers from the Amalgamated Union of App-based Transport Workers of Nigeria (AUATWON) told TechCabal that Bolt has discontinued a ₦6,000 daily bonus introduced in June. The bonus was added in June after drivers went on strike to ask Bolt and Uber to increase base fares.
- A month after an internet shutdown in June and the awarding of a 5G licence two weeks ago, the Senegalese government has shut down the internet again, following last month's arrest of opposition leader, Ousmane Sonko.
- Olu Akanmu has stepped down from his role as the president and co-CEO of OPay Nigeria, according to a statement published on his Twitter page on Monday morning.
- Kenya’s (tech ecosystem) strength lies in its history. It needs to convert the experience into innovation regional leadership beyond fundraising and the M-Pesa narrative.
- the Kenyan Court of Appeal has lifted the court order barring the implementation of Kenya’s new Finance Act. This comes after Treasury CS Prof Njuguna Ndung’u argued that the country was losing Ksh500 million ($3.5 million) per day.
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- At a juncture when Nigeria's economic stability hangs in the balance, the necessity for a cabinet that breeds confidence and showcases a willingness to tackle prevailing economic challenges is imperative.
- Like its telco counterpart, Airtel Africa, MTN Nigeria’s books have taken a beating in its profits for the half year ended June 30, 2023. MTN’s CEO cites the challenging environment, inflation and naira devaluation as the reason for a slump in its results.
- Copia, a Kenyan e-commerce platform, has laid off 25%—350 members of its workforce. This is the third time this year that Copia has trimmed its headcount.
- Safaricom has set up a company limited by guarantee to invest in seed-stage startups. This complements the existing Spark Fund, which empowers and nurtures start-ups in Kenya.
- This week, Eden Life began promoting “Homemade by Eden,” a quick service restaurant (QSR). Eden’s Homemade offers a plate of special fried rice with grilled peppered beef for N3,340, similar to middle/mass market offerings like Chicken Republic or Sweet Sensation.
- Yannick Sukakumu and Bhavik Pattni are players in the data centre industry in Africa. In this exclusive interview for TechCabal, they discuss with Noel K. Tshiani, founder of Congo Business Network. Sukakumu, who holds the role of country manager in Kinshasa, and Pattni, performing duties as the…
- I’d like to see more transparency in the ecosystem. There seems to be a culture of information hoarding and you have to meet someone personally or network in certain circles to be able to access certain information.
- Israel Oloruntoba is a product designer who believes product design has more to it than shapes, colours and text. "It's about understanding how people use things, seeing beyond the shiny interfaces," he says in this week's edition of Quick Fire.
- There are times when a transaction may be done mistakenly.. Fortunately, the Capitec app allows users to reverse certain money transactions, providing a safety net for those unforeseen mistakes. Read how here:
- Airtel Africa reported a loss after tax of $151 million in Q1 2023 due to the currency devaluation in Nigeria. This pales in comparison to the $178 million profit after tax it reported during the same period in 2022.
More in #TCDaily.
- There may be times you find yourself needing a branch code as a Capitec bank customer. Here, we explore Capitec Bank's branch locations and each's code.
- It has been established that M-PESA services could not be accessed from its smartphone app, MySafaricom, and the M-PESA super app. Customers also reported issues when transferring funds from banks to their M-PESA wallets.
- In the realm of luxury gadgets, tech enthusiasts have witnessed extraordinary innovations over the years. For the awe and knowledge of it, we want to show you the top two most expensive laptops in the world.
- The telco saw an improvement in voice, data, and mobile money but its results were impacted by foreign exchange headwinds. Despite these headwinds, Airtel Africa revealed it will continue to invest in Nigeria to enable it to capture the growth opportunity.
- Last week, Rwandan healthtech startup Kasha announced a $21 million Series B raise led by Knife Capital. Founded in 2016 by Joanna Bichsel, the startup provides a digital retail and last-mile distribution platform for pharmaceuticals and fast-moving consumer goods (FMCGs).
- Since Sunday, websites belonging to government agencies, media, hospitals and banks have been targeted by hackers claiming to be exacting revenge on behalf of the Sudanese regime.
- The report, whose supporting study was funded by the Bill and Melinda Gates Foundation, features almost 350 innovators in the health supply chain in Africa.
- There’s been a coup in Niger. The country’s military has ousted President Mohamed Bazoum and overthrown the parliament. The soldiers took to national TV, late last night, to announce the coup.
More in #TCDaily.
- Copia, a Kenyan e-commerce platform that serves low-income households, has laid off 25% or 350 members of its workforce. The e-commerce company confirmed the layoffs in a statement to TechCabal.
- Following the subsidy removal, the Nigerian government is projected to achieve fiscal savings of approximately N2 trillion in 2023, equivalent to 0.9% of GDP, according to the report. These savings are expected to reach over N11 trillion by the end of 2025.
- Safaricom launched in Ethiopia in 2022, yet its lucrative mobile money service, M-PESA, is yet to launch. It faces competition from Ethio Telecom's Telebirr, with 34.3 million subscribers.
- Experts who spoke to TechCabal said the apex bank reversal of its earlier stance is a means of bridging a gap where foreign investments can flow into Nigeria.
- Feat after feat, Africa is demonstrating that its stories are for the world to hear. Triggerfish, an animation company, is making this happen through Africa-centred stories.
- According to INTERPOL’s 2022 Africa Cyberthreat Assessment report [pdf], South Africa leads the continent in the number of identified cybersecurity threats, with 230 million total threat detections. Research by Accenture also illustrates the severity of the cybercrime landscape, with the country…
- South Africa has been actively pushing towards the digitisation of its payment systems. In March, Payshap, an interbank, and real-time digital payments service built as a collaborative effort between Bankserv, a clearing house owned by South African commercial banks, and the South Africa Reserve…
