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17 - 10 - 2018

If you would like to buy, sell or trade cryptocurrencies, Peer-2-Peer Crypto Exchange platform, LocalCoinExchange facilitates over-the-counter trading of local currency for cryptocurrency in the most comfortable way possible. Users post advertisements on the website, where they state exchange rates and payment methods for buying or selling Bitcoin, Ethereum, Litecoin, Ripple, Binance Coin and other Cryptocurrencies. Other users reply to these advertisements and agree to pay with online banking or meet the person to buy bitcoins with cash. LocalCoinExchange has a reputation and feedback mechanism for, an escrow and conflict resolution service. Find out how to get started HERE

Olugbenga Agboola is settling into his new role as CEO of Flutterwave. In this interview with Techpoint, he talks about his first day on the job and his plans for the future of the company --  to expand to other African countries and fix the fragmented state of payments in the continent.

E-commerce platforms in Egypt, including Jumia, Souq and OLX, are now required by the country's finance ministry to charge a 14% value-added tax (VAT) on all items that would be subject to VAT if sold offline. According to Reuters, Egypt introduced a VAT of 13% in 2016, which rose to 14% in 2017.

South African IoT operator SqwidNet has signed deals with Discovery Insure, Netstar and Fidelity ADT to deploy IoT solutions in the automotive, insurance and security sectors. The company, licenced under French firm Sigfox, will be working with its new partners to connect 2.5 million devices.
Havaíc, an investment company in Cape Town, has acquired a 10% equity stake in commercial real-estate portal Instant Property. Waybe Berger, Instant Property founder, said this is the “largest fund-raise” the startup has held thus far. Havaíc executive director Grant Rock will also be joining the Instant Property board in a non-executive capacity, as part of the deal.

Facebook is partnering with Africa Check and AFP to fight the spread of fake news on its platform in Nigeria. This is in addition to the recently launched South Africa and Kenya programmes.

The number of mobile phone users in Kenya rose to 45.5 million in June, according to Techmoran, quoting a new report by Kenya’s regulator, the Communications Authority. The country had recorded 40.2 million mobile service subscriptions in 2017.

It has been more than two years since Co-Creation Hub (CcHUB) launched the Growth Capital fund (GC fund) to raise ₦1 billion within 24 months. Apart from the ₦200 million benchmark contributed by all partners involved at the inception, only an additional ₦80 million has been added to the fund till date and only three ventures have benefited from it. In this article, Techpoint tries to figure out what is happening with the fund.

Internet Solutions has introduced IS Open Network (ISON), a consumption-based billing service, in Kenya, Uganda, Tanzania, Mozambique, Nigeria and Ghana. The South African company said the service is aimed at helping "companies cut down on the overheads experienced during downtime and off-peak seasons."

The Transformative Urban Mobility Initiative (TUMI) Startup Accelerator in Kenya is looking for startups in the urban mobility sector that can solve urban mobility challenges in African Cities. Selected startups will receive mentorship, links with investors and in-kind support worth up to $20,000. Find out more here.

That's All!

We'll see you tomorrow. 
- Samuel

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