- Customers will be able to set up standing orders on M-PESA for bills and send money to friends and family. The service is available through a mini app. Safaricom has launched standing orders on its mobile money platform, M-PESA. This service was hinted at a month ago and has just been announced…
- “At some point this year, we crossed a billion dollars in GMV. We have also onboarded over 200,000 merchants on our platform,“ said Sabi's co-founder and CEO, Anu Adasolum.
- In a parliamentary session yesterday, October 11, a member of parliament suggested that the EU's investigation of X for misinformation should be factored in the vetting process for Starlink’s operation licence application in Zimbabwe.
- Nigeria’s president Bola Ahmed Tinubu has appointed new and returning CEOs for offices under the Federal Ministry of Communications, Innovation and Digital Economy. Special adviser to the president on media and publicity, Ajuri Ngelale, shared the new listed members in a statement yesterday.
- Day 2 of TechCabal's Moonshot Conference will feature panels with Olugbenga Abgoola, Josh Chibueze, Fisayo Fosudo, Jola Ayeye, and Korty EO. The winner of the ₦2.5 million TC Battlefield prize will also be announced. Here's the recap of day 1.
Read more in #TCDaily.
- Bode Afobarin, the COO at Flutterwave, said that for Flutterwave’s expansion, the company developed a playbook and likened the effect of the playbook to how Catholic churches are similar worldwide.
- Investing in any business comes with its own risks and rewards, and the African tech space is no different. However, no investor takes a bet on a business expecting losses or risks, according to Olumide Soyombo, a partner at Voltron Capital.
- The 45,000 km long undersea cable will land in 32 other African countries. The new deep-sea cable project will encircle Africa when complete and is expected to land in Lagos and Kwa Ibo, a river town in Nigeria’s southeast this November, TechCabal has learned. 2Africa is the brainchild of a…
- “When a practitioner creates an idea to disrupt things, the policymaker sees displacement. The only way to solve that problem is through collaboration," said Oswald Guobadia.
- Current generative AI systems are not equipped with enough data to adequately reflect Africa’s diversity, but this provides an opportunity for Africans to digitise their rich and diverse cultures and languages.
- Founded by Aisha Owolabi, Smarketers Hub is a digital community of bright marketers, committed to mutual learning and daily improvement. Read this week's edition of #EnteringTech🚀 to find out how this community of 1,500+ marketers work.
- Financial organisations are mandated by the CBN to provide all details of their lending to at least two credit bureaus in the country on a monthly basis. This means that as long as you do not repay your loan, your profile will repeatedly be sent to the bureaus monthly.
- I’M IN Accelerator focuses on launching black-founded, high-growth start-ups into the African technology sector by providing opportunities to technically apt founders with limited access to resources.
- The Llama Impact Grants program will provide $500,000 in grants to projects using Llama 2, its open-source large language model to address grand challenges in education, the environment and social innovation. “Recent breakthroughs in artificial intelligence demonstrate the potential for AI to help…
- "We are starting with 1% of our 3 million target and that will be for the first three months. And that 1% is going to be 30,000 people," Tijani said.
- Payhippo, a Nigerian fintech, has appointed Dami Olawoye as its new CEO. Olawoye said that during his tenure, the company will focus on small businesses in the renewable energy sector.
- Per the law, e-taxi apps in Kenya, including Bolt and Uber, should receive an 18% commission from their driver partners. However, both companies introduced “illegal” booking charges.
- The stage is set for TechCabal's Moonshot Conference! The Conference kicks off today at 9 AM WAT at the Eko Convention Centre! Today, you can catch workshops, masterclasses, panel sessions, and some merch if you just give us your money.
Read more in #TCDaily.
- As Flutterwave expands its footprint in Kenya, it has hired employees from prominent companies in the last few months, including Chipper Cash, Microsoft, Safaricom, and Wasoko.
- Writesea, a New York company, acquired 3-month-old Nigerian AI startup CoverAI for a five-figure dollar deal. One source estimated the deal to be less than $50,000.
- OPay, Meta and DHL may be asked to pay 2% of their gross revenues in 2022 as fines if found guilty of data privacy violations according to Section 48 (5) of the Nigeria Data Protection Act of 2023.
- The Nigerian peculiar restrictions and strict modalities on the process of receiving foreign funds can be complex and discouraging. Here, we explore some key and easy ways Nigerians can efficiently receive foreign payments.
- Nigerian agritech startup, ThriveAgric, has partnered with a global nonprofit organisation, Heifer International, to empower 125,000 smallholder farmers with financial inclusion.
Click here to read more in #TCDaily.
- TechCabal was biggest winner of the night, taking home trophies in three categories. TechCabal and its business intelligence unit TC Insights have won awards in three categories at the Startup Awards, held on October 5 and 6 in Port Harcourt, Nigeria. The awards are for Best New Media Platform (…
- Last week, TechCabal and TC Insights won trophies in three categories at the StartupSouth Awards. We won for Best New Media Platform (Technology), Best Startup Intelligence Platform (TC Insights) and Best Startup Ecosystem Newsletter (TC Daily).
- Koree, a fintech that allows customers in cash-based economies to save spare cash on a card, wins $50,000 at the Ecobank Fintech Challenge, edging out almost 1,500 fintechs. Koree, a Cameroonian fintech, has emerged winner of the Ecobank Fintech, ahead of eight finalists and 1,490 pitches. Koree…
- The founders of crypto startup Bridge Network have split up after a falling out. The startup has also reportedly paid back investors who demanded refunds following news of the fallout.
Click here to read more in #TCDaily.
- Dash, the Ghanaian fintech has shut down. The startup raised $86.1 million in five years and attracted big-name investors. It raised $32.8 million in a seed round—the second largest seed round for an African startup—in 2021.
- The three co-founders of web3 startup Bridge Network have split after a fight for control of the company. They raised over $3.8 million from several investors, including FTX. After the split, some investors asked for refunds.
- Twiga has confirmed to TechCabal that it is in talks with Incentro Africa, a Google services reseller, to resolve their ongoing legal tussle. Twiga was taken to court by Incentro to recover a $261,878 debt. Incentro Africa asked the court to give a liquidation notice to Twiga if the debt remained…
- “We never play a valuation game so we are never on to the hottest thing. Rather, we look at businesses that are focused on serving the needs of their sector,” said Okpala.
- Yesterday, Zambia became the seventh African country to get Starlink, SpaceX's satellite internet service. In Zambia, it will cost ZMW10,744 ($505) for Starlink’s hardware, and ZMW507 ($24) for the monthly subscription.
Click here to read more in #TCDaily.
- According to the Starlink website, the service will cost 10,744 Zambian kwacha ($505) for the hardware and 507 Zambian kwacha ($24) for the monthly subscription. Data by UK research firm Cable shows that Zambia has the fourth most expensive data prices in Africa.
- As the world’s most unequal country, South Africa’s lopsided wealth distribution has created a two-tiered healthcare system whose inequality mirrors that of apartheid, a system supposedly replaced by democracy 29 years ago.
- In September 2023, 22 African tech startups raised $116.7 million across 22 fully disclosed* raises. In total, Q3 saw African startups raise $492.6 million across 67 fully disclosed deals. So far, African startups have raised $2.57 billion in 2023.
- today's edition of #EnteringTech explores the meaning of content marketing and the day-to-day tasks of content marketers. It also provides tips on where to learn content marketing.
- “Some 24 hours ago, we got information that there were active accounts/wallets on our OPay app, which the owners alleged had been created without their knowledge and consent,” said Adekunle Adeyemi, the company’s Head of Marketing. “Based on our investigation, we discovered that these accounts were…
- Despite having been celebrated for their convenience and affordable pricing when they arrived in South Africa in the mid-2010s, international ride-hailing platforms have faced scrutiny in the country lately.
- “When we thought about, how do we produce these new insights and data solutions in a way that is good for the business, it became very clear that we need to shift our model,” Stears Director.
- In another cybersecurity, the South Africa State Security Agency (SSA) may have been the target of a coordinated cyber attack by Britain’s MI6 and US’ CIA. While the agency has denied all news of the hack, sources claimed it happened sometime in August.
- Starlink, the satellite internet service owned by Elon Musk’s Space X, is slashing its price in Nigeria and expanding its distribution channels to acquire more users. The company is offering a 20% discount on its kit from ₦378,000 ($378) to ₦299,000 ($299). It has also partnered with Jumia, Nigeria…
