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03 - 03 - 2020

Hello there! Today's TC Daily comes later than scheduled timing, we apologize for throwing you off, and promise to be early in your inbox tomorrow morning. If this email was forwarded to you, please take a moment to subscribe. Also, join us on Telegram for all the hot takes and deep dives into Africa's technology sector.

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TerraPay, a mobile payments switching company which  facilitates business-to-business transfers and settlements for financial services companies has been acquired. The acquisition was made by a consortium of investors including Prime Ventures and Partech Africa. Alexander Onukwue reports on the acquisition here and says the investors did not disclose the value of the deal. However, the lead investor disclosed a $9.6 million investment as a follow up to the acquisition. 
The East African motorcycle hailing company, SafeBoda has started operations in the city of Ibadan, Nigeria.  While the company has been in Nigeria since 2019, it curiously chose not to launch in Lagos, the country's commercial capital. In hindsight, that decision proved to be strategic, given the ban on motorcycles and tricycles in Lagos.  TechCabal visited Ibadan and spoke with some of the company's representatives. Look out for our deep dives into the mobility sector in Ibadan in the coming days. 
The mobility sector in Lagos continues to dominate conversations this year, with significant regulatory changes by the government. The latest talk about regulation in Lagos will affect ride hailing companies like Uber and Bolt. Techpoint reveals that drivers on these platforms are expected to have a Lagos State Drivers’ Institute (LASDRI) card and a driver badge issued by the Department of Public Transport and Commuter Services of the Lagos State Ministry of Transport. Drivers on the ride hailing platforms will also be required to have hackney permits.  On the important issue of licensing fees, there are reportedly proposals by the government of a fee of ₦10 million ($27,341) or ₦25 million ($54,682), for those with less or more than 1000 drivers, respectively.  
Away from mobility, South African artificial intelligence (AI) startup, DataProphet has been named by investment analytics platform, CB inisghts as part of the fourth annual AI 100 ranking. The CB insights AI 100 is a ranking of the most promising private artificial intelligence companies in the world.  DataProphet was founded in 2014 and uses machine learning to aid companies in developing products and solutions, with a particular focus on the manufacturing sector. Ventureburn brings you the scoop here. 

13 Fintech startups have been selected for CATAPULT:Inclusion Africa 2020,

The program will provide mentoring, coaching, peer to peer learning and dedicated workshops for the selected Fintech startups.  Tanzania's A-Trader, Cote D'Ivoire's Cinet Pay, Nigeria's Esusu are some of the startups selected. Find all the selected startups here. 
Kenyan Startup, Pariti wants to connect companies to global freelancers to fulfill various key tasks.  The startup has launched an online platform which it terms a "startup for startups". Pariti freelancers have skills in finance, market research, and design, and the startup pairs them with companies looking for support, Disrupt Africa captures what the company will be hoping to achieve here. 
That's it for today, See you tomorrow - Olumuyiwa       Share TC Daily with everyone you care about!
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