This week: Africa gets another unicorn

Editor’s Note

• Week 05, 2023
• Read time: 5 minutes

This week, Amazon launches in Nigeria, whereas Elon Musk brings his web service Starlink to the nation. In different information, whereas MTN Nigeria introduced revenues of ₦2 trillion (a quantity that pretty boggles the thoughts), Gokada continues to be battling empty pockets and Jumia hits a surprising low.

Dive in for extra tales from the tech ecosystem are on this week’s version of TC Weekender.

Technology in Africa is rising at an unprecedented fee and we wish you to have a fowl’s eye view of it. The State of Tech in Africa report has launched.

You can obtain it right here.

	CBK approves 12 extra digital lenders The Central Bank of Kenya (CBK) handed out 12 extra licenses to digital lenders, bringing the entire variety of licenses given out to 22, out of the 381 functions the CBK has acquired. Some suppliers say the CBK was delaying their license, however the apex financial institution says it’s doing all of the authorized evaluations for the protection and safety of customers. Learn extra.
	Ghana’s again tax record Ghana’s enjoying a loud debt tune and demanding again taxes from multinationals like MTN Ghana, Gold Fields Ltd, Kosmos Energy and Tullow Oil Plc. The corporations are refusing to bounce, disputing the again taxes. MTN is already out of the woods; the telecom introduced yesterday that Ghanaian tax authorities have withdrawn the GHC8.2 billion (~$665 million) fantastic it slapped on MTN’s door. Learn extra.
	Convergence Partners raises $269 million Convergence Partners is making waves with a $296 million pool to energy Africa’s digital ecosystem! The funding pool is known as the Convergence Partners Digital Infrastructure Fund and is able to spend money on digital infrastructure options like fibre networks, cloud providers, and AI. Learn extra.
	Gokada lays off employees…once more Last-mile supply firm, GoKada, gave 54 workers from its high quality assurance and rider-ops groups the boot with out discover or pay. The startup which is attempting to lift $100,000 by crowdfunding reportedly thought of promoting the enterprise to a competitor, Kwik Logistics, in 2022. Learn extra.
	Zipline aces Kenyan take a look at Kenyans, prepare for a high-flying healthcare expertise. Zipline, the worldwide drone supply firm, nailed its take a look at flights in Kisumu County and is able to launch its prompt logistics operations within the nation and convey healthcare to new heights. Learn extra.
	Amazon launches in Nigeria and delays SA launch So, it appears South Africa’s “Prime” time has not come. Ecommerce big Amazon launched in Nigeria however postponed its South African launch until the top of the 12 months on account of a “challenging environment”. Amazon has confronted a number of challenges, together with protests over constructing on sacred land. Learn extra.
	MAFAB launches 5G in Nigeria MAFAB Communications is rebranding as Mcom and has joined MTN as the one two licensed to supply 5G within the nation. Mcom plans to roll out the service throughout 6 cities, counting on partnerships and current infrastructure for nationwide protection. Read extra.

Who introduced the cash this week?

• This week, Egyptian fintech firm MNT-Halan acquired $340 million in fairness & debt funding from Chimera Abu Dhabi and Commercial International Bank (CIB).

• South African fintech Lulalend raised $35 million in a Series B funding spherical led by Lightrock and with participation from DEG, Triodos Investment Management, Women’s World Banking Asset Management, IFC, and Quona Capital.

• Trade Lenda, a Lagos-based fintech startup, secured $520,000 in a pre-seed funding spherical from Africa-focused traders, together with Sovereign Capital, ARM Labs, and Expert Dojo, in addition to Nigeria-based angel traders.

• Three African agritech startups, ThriveAgric from Nigeria, DigicCow from Kenya, and Brastorne Enterprises from Botswana, received the 2022 AYuTe Africa Challenge securing $1.5 million in grant funding. 

Guess the phrase: A billion-dollar horse

Guess the phrase. Hint: It’s a billion-dollar horse, a 7-letter phrase and you’ve got 6 probabilities to guess it accurately. Play! Don’t overlook to share your play with me on social media!