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29 - 07 - 2019

It's a new week and another edition of TC Daily, your one-stop shop for tech news from across Africa. If this mail was forwarded to you, please take a moment to subscribe. Join our community!

Egyptian electronic payments company Fawry has announced it will list its shares on the Egyptian Stock Exchange on or around August 8. The company says it will be selling 36% or 254.6 million of its ordinary shares at the price of EGP 6.46 (US$0.39) per share at a valuation of a little over US$275 million. Founded in 2008 and one of Egypt's leading fintech companies, Fawry currently offers over 250 electronic payment services through its network of over 100,000 service points across 300 cities in the country.

Econet’s Cassava Fintech International (CFI) has launched Sasai, a social payments platform with instant messaging, social media and mobile payments. Sasai will include Pay, Chat and Explore features with the payment feature launching first in markets where Econet Wireless Mobile Network Group operates. Econet aims to launch Sasai in at least eight markets by March 2020. Social media and payments solution are fast merging. There's Facebook's cryptocurrency and of course, WhatsApp's WhatsApp Pay which it is close to launching in India, now its largest market (400 million users).

South African social enterprise GirlCode, will be hosting the final edition of its flagship project GirlCodeHack on August 3 and 4 in Pretoria and Capetown South Africa. Started in 2014 with just 30 attendees, GirlCode has grown to become the largest all-female hackathon in South Africa. Co-founder, Zandile Keebine, says GirlCode will now focus on teaching girls programming skills through its other initiatives having met its vision of building community and awareness around programming with its hackathons. Tickets to the hackathon can be purchased here.

Here are some tech events happening this week across South Africa, Kenya and southeast Nigeria. 

The African Business Angel Network (ABAN) invites local investors to host masterclasses in cities across Africa over the next 4 months following its partnership with Seedstars to offer investor masterclasses to the Seedstars World Tour. Find out more here.

Ivory Coast gaming company, Paradise Game Center, has officially opened an African gaming and entertainment hub for the promotion of esports in Africa through tournaments and esport players training for international competitions. From September, middle school and high school students will be admitted for training sessions on robotics and the development of video games and in 2020, the center will host an edtech & e-learning program where startups, teachers, students and entrepreneurs will work together on creating the future educational tools for Africa.

Government workers in state-owned Eskom face a 10% salary cut as it seeks out ways to close a R120-billion hole in its budget, a result of acceding to a R59-billion bailout for Eskom as well as a shortfall in tax revenue for the fiscal year ended March 2020. Unions have said they will not accept the revocation of bonuses and salary cuts for their workers. Eskom is seeking court injunctions to review electricity tariffs upward after a 9.4% increase in April. Amidst this financial limbo, there are reports that 3,000MW gas power station is in the works with a feasibility study currently underway.

The Germany Africa Business Forum (GABF) has announced a multi-million Euro funding commitment to invest in German energy startups that focus on Africa. GABF, whose goal is to strengthen investment ties between Germany and Africa will provide the funding in collaboration with private partners from the energy industry. The funding commitment, which pledges funds to German startups with exposure to African energy projects, will reportedly, be the first such intra-regional initiative.

Nairobi-based fintech startup, Umba, formerly Mkopo Kaka has raised an undisclosed equity financing round led from ACT Venture Capital, Frontline Ventures and Bloom Equity to lend up to US$1.1 million a month to consumers in Kenya, Uganda, and Tanzania where it operates. Umba offers loans between US$2.5 to US$700 via its smartphone app to its over 170,000 customer base in East Africa by leverage mobile phone penetration to reach the undeserved and unbanked.

What We're Reading + Between 2005 and 2015, global Internet users tripled from 1 billion to 3 billion, and more households now own a mobile phone than have access to electricity or clean water. This Stears article raises the questions about how all the data these internet users are generating can be smartly utilised in the digital world. + Is Africa bound to trail behind the rest of the continent in building human capacity in Data Science? The acting director of DiSeCT – the new School for Data Science and Computational Thinking – at Stellenbosch University in South Africa argues that she is not, if these two key opportunities are explored.

From TechCabal + Aanu Adeoye, in this article, explores Google's slew of new apps and features specifically targeted at African audiences across a number of areas, from education to entertainment. +  ICYMI: Five years after operating only in Nigeria's administrative and commercial capitals Abuja and Lagos respectively, Uber has launched in a new location. It's the city of the Benin Bronzes. 

Have a great week,

We'll see you tomorrow.   - Kay
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