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25 - 9 - 2018

Good morning, people!

Note: We included a broken link for yesterday’s story about the biggest funding raised by African startups. The correct link is here. Thanks to everyone who pointed this out.

Rocket Internet is preparing Jumia for a possible New York listing next year. According to Reuters sources, this move could value the e-commerce platform at about $1 billion, though the company is already considered Africa's first tech unicorn. The company may also sell shares worth up to $250 million. There have been speculations that Rocket Internet is seeking a partial exit from Jumia, as is its pattern with established firms.

Kenya has the highest mobile money penetration in the world, a report by Citi Research has revealed. In 2017, 70 percent of Kenyan adults made use of mobile money, with Uganda, Tanzania, and Ghana following closely having between 40 to 50 percent mobile money users.

L'Oréal has invested in Partech Africa Fund, an investment fund seeking to enhance the development of “Tech” projects in Africa. The French personal care company hopes to partner with start-ups whose products and services facilitate access to consumers in remote areas.

Poor infrastructure in many African countries makes Logistics difficult. To fix this problem, African Development Bank Group estimates an annual cost of $170 billion. Some tech ventures are, however, providing innovative solutions to this problem. In this infographic, Briter explores such tech innovations across Africa.

LifeBank has won MIT's Solve pitch on the 'Frontlines of Health Challenges.' Temie Giwa-Tubosun, LifeBank's CEO, pitched solutions on how communities can invest in frontline health workers and services to improve their access to effective and affordable care. LifeBank also recently exhibited at TechCrunch Disrupt SF 2018 as one of the top picks for the blockchain category.

It’s now four years since Andela launched its fellowship in Nigeria with the promise of investing in talented software developers. Andela now has its first set of developers to have completed their four-year fellowship, according to Techmoran. The organization says it has created a program called Launchpad to help its alumni navigate their next steps in the tech ecosystem.

Mobile users in Addis Ababa, Ethiopia, were unable to access the internet last week, according to various reports. So far, officials have not given a reason for the shutdown. Chinese news agency, Xinhua, reported that this is coming "amidst deadly unrest that left five people dead in the city on Monday."

Accenture has launched its Africa’s Top 30 Tech Startups initiative. The firm is seeking African startups that are solving problems in business, government and civil society. Selected startups will join the Accenture Open Innovation network, opening their products to opportunities across the globe. Find other requirements and apply here. Accenture also launched its first design and innovation studio, Fjord, in Africa, located in Johannesburg South Africa.

Lagos Startup Week has started. The conference kicked off on Monday and will run through the week, ending on Saturday, September 9. Speakers at the event include Bayo Adekanmbi (MTN Nigeria) and Onyeka Akumah (Farmcrowdy), among others. Find out more and apply here

Ventures Platform Foundation will host its Ecosystem dialogue series on Thursday and Friday. The discussion for this edition holding in Lagos and Abuja will focus on tax incentives for startups. Register here.

From TechCabal

+ HydroPower Dominates Africa’s Renewables But Over 80% Of Its Potential Remains Untapped

How Blockchain Can Help Africa Build A Better Logistics Industry



 

That's All!


We'll see you tomorrow.
 
- Samuel

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