Zimbabwe’s Econet imports 100,000 Covid-19 test kits

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Good morning, and welcome to TC Daily. In today’s edition, Econet imports 100,000 Covid-19 test kits, Egypt’s Brimore raises $3.5 million funding and Zimbabwe’s central bank thinks its biggest mobile money service is a Ponzi scheme.

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Source Beauty, an Egyptian ecommerce platform has raised undisclosed pre-seed investment from 500 Falcons, a startup fund created by 500 Startups for North Africa and the Middle East. The two-year-old cosmetics retailer will use the new funding to expand its team and invest in new technology, especially data analytics.


In Zimbabwe, Econet Group and Cassava Smartech have imported 100,000 test kits to help ramp up Covid-19 testing in the country. The Southern African country has been in lockdown for the last six weeks and has so far recorded 36 cases of the disease. Imported in partnership with Higherlife Foundation, an NGO, the new kits will be used to test staff of Econet and Cassava, as well other individuals and corporate employees. They will offer free tests to low-income earners and employees of a few selected companies. Everybody else will pay $25 to get tested.


Phishing emails and scams are still rampant as hackers leverage different opportunities to attack people. Their plan is to trick people to open malicious emails, get them to click particular links then infect their computers with malware. Recently, they’ve stepped this up. According to Check Point Research, hackers are increasingly acquiring new domain names and posing as Google Meet, Zoom and Microsoft Teams-URL. Other hackers are sending emails masquerading as the World Health Organisation and soliciting donations from people.

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Egyptian startup, Brimore has raised $3.5 million funding in a pre-Series A round. The round was led by Algebra Ventures. Other investors that participated in the round include Disruptech, Vision Ventures, and returning investors, 500 Startups, and Flat6labs. Founded in 2017, Brimore is a distribution company that works with everyday people, called social sellers, who advertise and retail products with their social networks in return for a percentage on each sale. The startup claims to have “tens of thousands” of social sellers on its platform and plans to complete its Series A round of funding within 12 months.


The Johannesburg Stock Exchange plans to offer temporary relief for companies as the pandemic rages on. The bourse will cut listing fees by up to 25% for small companies looking to raise capital. It will also extend payment terms for financially distressed companies by up to six months.


A Nigerian-led health tech company, Koniku has partnered with Airbus, the European aircraft manufacturer, to co-develop solutions for airport security. The two companies will develop solutions for detecting biological hazards, and spotting chemical and explosive threats. TechCabal’s Alexander Onukwue has more details
on this story.

Nigerian financial service technology company OPay has joined Nigerians and the Government is rolling out a series of anti-pandemic and relief efforts.
As part of its #DoMore initiative, OPay made a donation of 40,000 medical face masks to the Lagos State Government.

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+ What will our post-pandemic future look like? Dozens of economists, investors, and CEOs share their understanding of how the coronavirus has forever changed the world.

+ Where are
countries finding the money to mitigate economic catastrophe?

+ Zimbabwe’s central bank calls EcoCash, the country’s biggest mobile money service, a Ponzi scheme.

That’s all for today,

Stay safe!
– Abubakar

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