Zimbabwe's Econet imports 100,000 Covid-19 test kits
in partnership with FLUTTERWAVE, RENSOURCE & OPAY 13.05.2020
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. Was this email was forwarded to you? Take a moment to subscribe to TC Daily. Sign up here to indicate interest in attending our Bullish on Africa digital conference. Join our investor matchmaking session. For investors, for startups.
PARTNER CONTENT

Quidax is an African focused cryptocurrency exchange that makes it easy for you to buy/sell Bitcoin and other cryptocurrencies. We also make it possible for Fintech companies to offer cryptocurrency services to their customers. Visit Quidax today: https://bit.ly/2WaAPxV

FUNDING

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.

COVID-19 TESTS KITS

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.

SECURITY UPDATE

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.

Tired of giving excuses? Get Keepwork - a compact and lightweight rechargeable power system with lithium batteries that charge your devices for up to 40 continuous hours.

FUNDING

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.

FINANCIAL RELIEF
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 NEW PARTNERSHIP
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.
BULLISH ON AFRICA
On May 15, 2020, TechCabal is holding a digital conference, themed Bullish on Africa, in partnership with Pariti. The event will speak to the future of Africa's tech industry with optimism and strength and critical thinking about what it takes to get to a stronger industry from where we are today.
This digital conference will bring together experienced tech thinkers and doers from Africa and across the world including entrepreneurs and investors to speak about the opportunities they are looking at and to share their experiences about what the continent should be building and how to build strong, sustainable and profitable companies in a moment of crisis.
Confirmed speakers for the conference include Kola Aina, Founder, Ventures Platform; Andreata Muforo, Partner, TLcom TIDE Africa Fund; Benjamin Schmerler, Partner, SUNU Capital; Nisha Ligon, CEO, Ubongo; and Alain Nteff, CEO, Health Lane; among others.
Sign up here to indicate interest in attending the event.
If you are a startup in health or edtech willing to join our investor matchmaking session, please fill in this form. Startups in any sector expanding as a result of coronavirus can also apply. Investors interested in meeting startups can apply here.
OTHER THINGS WE'RE READING
+ 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!
#flattenthecurve
- Abubakar

Share TC Daily with your friends!

Copyright © 2020 Big Cabal Media,
All rights reserved.
You are receiving this email because
you signed up on TechCabal.com
Our mailing address is:
Big Cabal Media
18, Nnobi Street, Animashaun, Surulere, Lagos
Surulere 100001
Nigeria
Add us to your address book
Want to change how you receive these emails? You can
update your preferences or unsubscribe from this list.
Email Marketing by ActiveCampaign
TechCabal is a Big Cabal Media brand



Copyright © 2020
All rights reserved

Privacy & Terms