Ghana’s Cowtribe raises seed funding and new streaming TV launches in South Africa
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Welcome to today’s edition of TC Daily. Did a friend or colleague forward this to you? Do take a moment to subscribe so you don’t miss out on future editions.
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A MESSAGE FROM OUR SPONSORS
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| We have moved our launch date for the Blockfinex platform to 20th of November 2018 in order to implement solutions to some problems stated in the surveys. This means you can still take the survey to advise us on the challenges you face with currently available cryptocurrency exchanges. Click HERE to take the survey. |
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France’s EDF Group has concluded a deal to build a 420 MW hydropower project worth $1.37 billion in Cameroon. EDF will hold a 40% stake in the project, the Cameroonian government will own 30% while the IFC will own the remaining 30%. Once operational, it is expected to contribute 30 percent of Cameroon’s total electricity generation capacity. The country currently generates 741 MW from hydropower contributing 46.7% to its total installed energy capacity. The new project means the contribution from hydropower will increase to 1,161 MW. The EDF Group is an active investor in Africa’s renewable energy sector. In August, it invested an undisclosed amount in Kenya’s Sunculture, a company that provides solar power solutions for smallholder farmers. EDF has 432 hydropower plants across the world and is looking to expand its hydropower business in Africa. About 80% of Africa’s hydropower potential remains largely untapped, learn more here.
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| Ghana’s Cowtribe, has received a $300,000 investment from the Draper Richards Kaplan Foundation. The convertible note seed financing will be used to expand in Ghana, improve its delivery infrastructure and also acquire more users. It is also looking into launching in Senegal and Mali. The platform connects livestock farmers with veterinary doctors. It currently has 30,000 farmers and is targeting 100,000 by the end of 2019. |
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MTN is in the news again but this time it’s good news. According to TechCentral, the telco is close to reaching a deal with Nigeria’s Central Bank to end the ongoing dispute. The CBN is expected to meet the banks involved in the dispute today which could bring it to an end. The dispute began in August when the CBN accused MTN of illegally transferring $81.b out of Nigeria, the telco has lost a fifth of its market value since then.
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| Kenya’s iHub is planning to digitize all its assets on the blockchain. The company will do so in partnership with Raise whose platform allows companies to create and manage digital assets. This will make iHub the first tech accelerator in Africa to tokenize its assets, making it easier for entrepreneurs and startups to raise capital. |
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Bitkoin Africa is hiring for the role of Customer Success Officer for BuyCoins. See the full requirements here and apply here.
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Total has called for applications in its Startupper of the Year challenge across a number of African countries. The challenge is looking for ideas or projects with social impact. Young entrepreneurs, below 35 years, can check for their country and apply here.
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Applications are now open for Johnson & Johnson’s Champions of Science Africa Innovation Challenge 2.0. The challenge is seeking innovative solutions to some of Africa’s health and environmental challenges. Find out more and apply here before January 16.
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| A new free-to-air internet streaming platform, TV2GO has launched in South Africa in partnership with Vodacom. The platform will offer 100 linear channels and on-demand content. It is planning to launch soon in Nigeria, Kenya and Ethiopia. The business model revolves around serving ads, eight for every 3 hours of viewing. This comes on the heels of Kwese’s announcement that it was streamlining its cable TV business and focusing on its online services. Quartz argues that it might be because of DStv’s domination of Africa’s pay TV market. |
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Techpoint and Techstars are holding a meet and greet for African developers in Berlin. The event will take place on November 14. Register to attend here.
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SnapnSave, a South African cash-back shopping app, has accessed a $490,000 investment from Kalon Venture Partners and Smollan. The startup first announced a total funding of $980,000 last year but was only able to access this second tranche after it hit growth targets.
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Loystar and Accounteer have announced a product integration/partnership. This means that Loystar’s customers can now have real-time accounting, from point-of-sale to their income statements. Accounteer’s customers can also easily set-up Loystar as their point-of-sale system within minutes. Customers get discounts for signing up for any of the platforms through the other.
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Telkom has concluded a partnership with Netflix to offer its service on the former’s Lit set-top box. Netflix will be available in South Africa on the set-top box later this year. In Kenya, it has announced a mobile health service in partnership with Baobab Circle. The service provides tips that can help users manage high blood pressure issues and diabetes.
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| You are invited to TC Townhall, Fintech 2.0, holding in partnership with Softcom on November 30. The forum will take a look at the next generation of financial technologies in Nigeria. Speakers include Adia Sowho (MD, Mines.io), Gbenga Agboola (CEO, Flutterwave), Titi Odunfa (MD, Sankore Investments), Dr. Yinka David West (Academic Director, LBS), Yvonne Johnson (fintech angel investor) and Yomi Adedeji (CEO, Softcom). Registration is now live, and seats are limited. See you there! |
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The End.
Have a great weekend. We’ll see you next week.
– Olanrewaju.
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