- A typical weekday morning in Lagos is rush hour, a good time of the day for cab drivers. But this Wednesday, ride-hailing drivers—think: Uber, Bolt, LagRide, Indriver, Indriver—are protesting.
- GITEX Africa allowed Morocco to show how much it wants to be a gateway to Africa’s technology sector from the Middle East. A long-time friend which shares the same ambitions for the Middle East is more than happy to help.
- A US-based research firm, yesterday, accused Nigerian company Tingo of misrepresentation, including the fabrication of the existence of its airline, Tingo Airlines; and the $128 million revenue Tingo reportedly generated from its telecoms arm.
More in #TCDaily.
- Tingo Group, a Nigerian Agri-Fintech, has seen its share price plummet by -55% on NASDAQ after Hinderberg Research announced that it had taken a short position on the company for being an “exceptionally obvious scam”.
- Digital mental health support isn't a replacement for traditional therapy. But when faced with limited resources and access to in-person mental health care, it provides a great alternative.
- Last week, Bolt reviewed its pricing in Nigeria, increasing base fare to N800 from N650. But Bolt drivers say it still does not cover their costs and a drivers union is asking for a minimum fare of ₦2000 ($4.30).
- In this exclusive interview for TechCabal, Noel K. Tshiani discusses with Isadora Bigourdan, acting CEO at Digital Africa, whose mission is to equip Africa’s tech entrepreneurs with the capabilities to design and scale groundbreaking innovations for the real economy.
- Apple recently made new product announcements at WWDC 2023. The globally coveted brand has some very exciting new products and OS updates for its community. One of these new gadgets costs almost $4000. Read more here:
- Mara's first layoff in December came only six months after it announced a $23 million raise. The recent layoffs happened in May, and a source told TechCabal about 6 people were affected. “The cuts mostly affected external-facing roles such as marketing
- The Social Relief of Distress (SRD) grant offered by the South African Social Security Agency (SASSA) aims to provide temporary assistance to individuals and families facing financial hardship. Here's how to apply online.
- Following violent protests that started Thursday, the Senegalese government has shut down access to several social media platforms including WhatsApp, Instagram and YouTube.
More in #TCDaily.
- Branch bought a microfinance bank in Kenya in 2023 after it secured a licence to operate a bank from the central bank of Kenya. Now, Branch operates as a neobank with additional products and services. In the future, its customers may be able to access business loans. Loan apps have been having a…
- Post-COVID, African tech talent benefitted broadly from a job market favouring workers. In Nigeria, the tech talents that left the country as part of the Japa wave in search of better working conditions and pay are not returning.
- Efayomi Carr, principal at Flourish Ventures, talks to TechCabal about what he has learned from investing in Africa, how Flourish Ventures invests, and his view on the current state of the African funding landscape.
- Last week, Chipper Cash laid off at least ten staff members. A source told TechCabal that the vice president of marketing, global chief operating officer, and the country director for Kenya were part of those affected by last week's layoffs
- In May 2023, African startups raised $621.8 million from 34 fully disclosed* raises.
Compared to May 2022 where African startups raised $437.1 million, this shows a 42% YoY increase. It's also a 379% increase from April 2023's $129.8 million.
- Whether an organisation is a “digital native” or not, the promise and potential of (exponential) technology, data, and new ways of creating and delivering value, is immense.
- The Gauteng province in South Africa has given the green light to R1.7 billion ($86 million) for e-policing. This eye-popping sum will be used to acquire crime-fighting gadgets, including drones.
- Eyowo sets a new deadline for the resumption of interbank transfers on its platform. The company, including employees, claims to be pooling personal funds for depositors that are in dire need of their deposits.
- Following the removal of fuel subsidies, fuel prices nationwide have skyrocketed, triggering a struggle for profits and cost savings among riders, drivers, and ride-hailing platforms.
- In his inaugural speech, President Bola Tinubu confirmed that his administration would work towards a unified exchange rate. What will this mean for the operations of virtual cards in the country? President Bola Tinubu’s plan to unify the country’s exchange rate—following advice from the World Bank…
- As a policyholder, it is crucial to stay informed about your NHIF status to ensure uninterrupted access to healthcare benefits. This guide explains how to check your NHIF status in Kenya.
- Checking your Tshwane University of Technology (TUT) exam results is an important step towards tracking your academic progress. This guide will walk you through the process of checking your TUT exam results.
- The new digital ID will crucial throughout a child's educational journey, serving as their primary and secondary school identification numbers. As the child grows and reaches the age of 18, the ID seamlessly transitions into their official national identity number.
- A conversation with South African hip-hop star turned entertainment business mogul Siyabonga Metane, popularly known as Slikour, about the #UnitedStatesofCreatives platform.
- Yesterday, the Central Bank of Nigeria (CBN) dismissed claims that it devalued the naira to ₦630/$1 from ₦461. Meanwhile, Kenya has launched the second phase of its Hustlers Fund.
More in #TCDaily.
- In this interview with Paystack’s COO, she talks about the company's structure, its relationship with Stripe, and some industry-collaborative attempts at stopping fraud.
- The FULIZA's M-PESA overdraft service is available to customers who are registered M-PESA users with a valid Safaricom M-PESA line. But in order to make use of the overdraft service, customers will have to opt-in. See how to access the FULIZA loan feature.
- The South African Social Security Agency (SASSA) provides financial assistance to vulnerable individuals through the Special Relief of Distress (SRD) grant. Here, we walk you through the ways and steps to check your SRD SASSA status.
- The Nigerian film industry is the second largest in the world and contributes 2.3% to the GDP, and now filmmakers are creating startups to develop niche solutions for the industry.
- West Africa made a strong impression at GITEX Africa in Marrakech, when Lagos State Governor Babajide Sanwo-Olu delivered a positive message about Africa's tech future.
- Nigeria’s Central Bank has denied reports of a devaluation of the Naira that made the rounds this morning. A tweet from the CBN’s handle said, “CBN did not devalue the Naira,” alongside a picture of the front page of a Nigerian newspaper.
- Ballooning fuel prices have consequences in Nigeria and South Africa. With petrol jumping to ₦600 ($1.60) per litre from ₦185 ($0.40), Nigerian logistics services are forced to increase their fees. In SA, Eskom has spent $1.08 billion on fuel for its turbines.
- Raising the ways and means threshold to 15% against a backdrop of a Central Bank that has not said no to the Federal Government in years may lead to more borrowing and even worse inflation.
- Logistics startups that spoke to TechCabal say they will raise prices this week and are preparing for a slowdown in delivery requests in the short term.
- According to the latest statistics from the South African Police Service (SAPS), more than 6,200 people were murdered between January and March 2023—an average of about 70 murders a day. In the same time period, 10,500 cases of rape were also recorded, an average of 116 cases a day.
- Nvidia has joined the trillion club and it's thanks to artificial intelligence (AI). With its share price exceeding $412, it now joins Apple, Amazon, Alphabet and Microsoft.
More in #TCDaily.
- Nearly a week after the CBN revoked Eyowo's Microfinance bank license, its users are still unable to access the funds in the digital bank. As a result, some users have resorted to buying airtime and cable subscriptions on the platform with the intention of reselling them in order to retrieve their…
- Uber’s cheaper ride-hailing option, Uber Go appears to be providing relief to Lagos residents. But riders say it can’t displace the market leaders because of some shortcomings. If you live in Lagos and you don’t own a car like me, chances are your biggest challenge is commuting. With about 24…
