Massive security breach at South African credit bureau
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Welcome to TC Daily! Please take a moment to subscribe to our newsletter if this email was forwarded to you. In today’s digest: Uber Connect berths in Egypt, information of 24 million South Africans exposed in data breach, and on-demand laundry service raises six-figure funding.
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Egypt is the first country in the Middle East and North Africa region to see the arrival of Uber’s on-demand delivery service Uber Connect. In Egypt, Uber is offering users door-to-door deliveries to send and receive packages from family and friends as well as to request deliveries of purchased items like groceries, or laundry from nearby stores/businesses. Maximum number of items and
weight of the deliveries are 10 items and 10kg respectively. There’s also a EGP 500 (about US$31) maximum value limit on courier purchase and deliveries from nearby stores and a EGP 1000 (US$63) maximum value limit of items sent or received from friends and family.
In addition to Egypt, Kenya and South Africa are other African countries where Uber’s new delivery service is now available to customers. Uber’s delivery business has contributed significantly to the company’s revenues in a challenging year amidst dwindling ride volumes. Just as it is relying on its motorcycle hailing arm, Uber Boda in Kenya for the deliveries, in Egypt, it will be utilising its scooter partners.
have been exposed to a data breach after a cyber criminal tricked Credit bureau Experian to hand over the data. According to the South African
Banking Risk Centre (SABRIC), the South African arm of one of the world’s largest credit bureaus have reported the breach to the relevant authorities and alongside banks, are looking to mitigate any effect on customers. Experian however says “no consumer credit or consumer financial information was obtained”. The global pandemic is expected to shift spending on cybersecurity significantly by 2021, according to a McKinsey survey. For large corporates particularly in the healthcare, financial and technology sectors, a somewhat significant increase is expected while for industries that have been hard dit by the pandemic like retail and energy, spending will decrease significantly.
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Egyptian on-demand laundry service Makwa, has raised a six-figure investment to expand its team, upgrade its technology, and accelerate its expansion. The undisclosed investment was made by an angel investor, the company said. Founded in 2018, the company works with a network of vendors to offer laundry services to users via a mobile app. In 2019, the startup participated in Flat6Lab’s accelerator program. According to CEO Aly Eteiba, both the funding and the angel investor’s experience will contribute to the company’s vision to “revolutionise the laundry industry for customers and laundry professionals alike”.
Regional accelerator Flat6Labs and Saudi angel network OQAL have partnered to further invest in startups in the Middle East and North Africa region. The Saudi angel network will be able to access startups in Flat6Labs’ portfolio and provide more efficient deal flows. OQAL was launched in 2012 and has invested in 18 companies across a range of industries from entertainment software to accessories and food products. It has also recorded nine exits in its portfolio the most recent being Careem following its acquisition by Uber.