Plus: Hackers want ShopRite to pay for its customers’data.
Editor’s Notes
- Week 27, 2022
- Read time: 5 minutes
Nigeria launched the eNaira last year; Ghana’s eCedi just entered pilot phase this week. There’s no jollof joke to be made here—just giving you the news. 👍🏿
Enjoy the long weekend,
Kelechi Njoku,
Senior Editor, TechCabal.
Editor’s Picks
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Flutterwave accused of money laundering in KenyaAfter facing allegations of insider trading and abuse, fintech unicorn Flutterwave is now being accused of laundering about $52.9 million in Kenya. Flutterwave has said the claims are false. |
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Wave secures €90 millionWaving hello to debt financing, Senegalese fintech Wave secured a €90 million syndicated loan from the International Finance Corporation (IFC). The World Bank is the second time the World Bank is stretching its investment arm towards Wave. |
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Equiano cable lands in NamibiaThe Namibian city of Swakopmund has received Google’s Equiano cable, a subsea internet cable which experts say will improve Namibia’s data transmission, internet speed by 2.5 times and penetration by 7.5 times, and create about 21,000 indirect jobs in 3 years. |
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Ghana prepares to test the eCediGhana has outrun Nigeria in the “financial inclusion by digital currency” race. Ghana’s digital currency—eCedi—is now in the pilot phase. The offline version of the eCedi is undergoing testing in rural areas. |
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Autochek acquires CoinAfriqueIs Autochek on Auto-cheque? It seems like the Nigerian-born startup can’t stop writing cheques. After buying the North African automotive startup KIFAL, Autochek has now acquired CoinAfrique. The acquisition will accelerate the penetration of its auto financing services in the francophone region. |
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Bolt opens Africa head office in KenyaKenya is fast becoming a home of firsts as several global companies are setting up their first African regional offices on its soil. Google, Microsoft, and now Estonia-born ride-hailing startup Bolt has opened its regional office in the country’s capital—Nairobi. |
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MTN and ETAP partner to reward good drivingMTN wants you to be safe everywhere you go. It has partnered with Nigerian insurtech Etap to incentivise good driving by rewarding drivers who maintain good driving habits in Nigeria. |
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Union54 is giving Zambians cards
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Gokada gets a new CEOTaking over from former CEO Nikhil Goel, Nigerian logistics company Gokada has appointed a new CEO. His name is Olutosin Onito, and he was formerly managing principal at Venture firm EchoVC. |
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Vodacom pulls the plug on video streaming serviceMaybe 7 isn’t such a lucky number. After almost 7 years and 1 million downloads, South African mobile communications company Vodacom is pulling the plug on its on-demand video streaming service, Video Play. |
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Torche Africa’s biometrics payment solutionCOVID-19 vaccines are on wheels in Kenya. The country’s ministry of health is collaborating with Amref Health Africa and AstraZeneca to send solar-powered mobile clinics to vaccinate people in hard-to-reach areas in the East African country. |
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Kenya caps taxi commissions at 18%This week the Kenyan government passed a policy that ensures that digital taxi operators like Bolt, Uber, Little, and others cannot demand a commission of over 18% of the earnings of taxi drivers who use their cars to work. |
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Sudan surpasses 10% covid-19 milestoneThis week, Sudan announced that it had vaccinated over 10% of its population against the Covid-19 virus. This is a big win against vaccine inequity, especially in Africa where an average of 4% of the population is vaccinated. |
Who brought the money this week?
- Kenyan startup B2B startup, Duhqa closed a $2 million seed round with participation from CrossFund, Roselake Ventures, and Mo Angels, and also featured a number of existing investors, including Techstars and strategic angels.
- Tunisian fintech Paymee raised an undisclosed six-figure amount in a funding round led by P1 Ventures.
Puzzle: How Many Words Can You Find?
There are 57 words and we’ve already given you 1.
How many words can you create from “startups”?
Top Tweets of the week
What else to read this weekend?
- Next Wave: Can Nigeria’s infrastructure support tech talent?
- Wimbart’s Jessica Hope on the role of PR in building a successful startup.
- Quick Fire 🔥 with Tope Alabi.
- How these founders plan to reduce non-performing loans in Africa.
- Vodacom wants to digitise the retail industry through SD-WAN technology.
- How can African creators make more money?
- South African fintech Stitch launches Stitch Payouts in South Africa
- The leading African tech moves from June 2022
