TechCabal Daily – Lagos state begins regulatory conversations with Uber and Bolt

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. 

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 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.
 

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. 

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.