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TC Weekender – Bolt shrinks in Tanzania

By Ngozi Chukwu Aug 20, 2022

Image source: Techcabal

Editor’s Note

Week 33, 2022
Read time: 5 minutes

This week, we saw interesting developments, especially in the telecom, logistics, and mobility industries across Africa. The stories reminded me that the road won’t always be easy, but it’s really up to all of us (workers, companies, investors, and regulators) to stake our claim on Africa’s future.

Relax this weekend; we go again on Monday.

Immaculata Abba, Senior Editor, TechCabal.

Editor’s Picks

	Cape Town Uber and Bolt drivers on strike Cape Town’s Uber and Bolt drivers have decided to go on a 2-week strike unless the mobility companies strike a better deal with them and speed up the permit process. Read more.
	HerRyde launches in Abuja Some innovations are as saddening as they are refreshing. HerRyde, a woman-only ride-hailing company has launched in Abuja. While it is exciting news, it is saddening that such a safe space was necessary in the first place. Read more.
	Bolt shrinks in Tanzania Tanzania’s Land Transport Regulatory Authority (LATRA) reviewed the commissions earned by ride-hailing companies. Instead of bolting out of Tanzania as its rival did, Bolt stayed but will now limit its operations to corporate users. Read more.
	Liquid Intelligent Technologies acquires Telrad Liquid Intelligent Technology is planting solid feet in more countries around the world. The Zimbabwean-owned company has acquired Israeli-based Telrad which has a presence in 13 countries across the Middle East, South America, United States, Eastern Europe, and Asia. Find out more.
	MTN is growing MTN recently reported that it’s flourishing on all sides—on the familiar grounds of telecommunications and the new grounds of fintech, insuretech, e-commerce and infrastructure technology. The company recorded positive growth despite its MoMo service losing $53 million. Learn more.

	Hytch is now a B2B logistics startup Hytch has ditched carpooling and hitched the logistics train only about 4 months after it launched. The mobility startup that facilitated ride-sharing has decided to help small businesses deliver their goods to customers instead. Three days after launching, with 0 marketing, it got 600 users, so what changed? Find out.

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	MTN to sell for $35 million MTN might no longer be everywhere you go. The telecom giant is giving up its 40% share of the Afghanistan market for $35 million dollars. MTN has not disclosed the lucky buyer, but it did say why it is leaving the country. Learn why.
	Rain retracts Telkom offer While MTN discussed with South African telecom Telkom about acquiring it, mobile-data-only network Rain announced interest in acquiring Telkom too. This sparked a backlash, which made Rain retract its offer. However, Rain says it’s a better suitor for Telkom and will try again later. Learn more.
	Jumia to deliver in 20 minutes in Nigeria Jumia is now riding the quick-commerce wave—e-commerce but with faster delivery. It launched a new platform, Jumia Mart, in Nigeria and has promised to deliver all orders processed on the platform in 20 minutes or less. Can it beat Lagos’s traffic? Find out more.
	SARB discourages divorce from CASPs Despite the groundbreaking crypto scams in South Africa, the country’s willing to bet on crypto. The South African Reserve Bank (SARB) has issued a manual for banks to use to manage their relationships with crypto asset providers (CASPs) instead of cutting ties with them. Get the full details.

Who brought the money this week?

Pastel, a Nigerian fintech startup raised $5.5 million in a seed round led by TLcom Capital.
Egyptian startup Bonbell closed an initial funding round worth $350k from a Canadian angel investor.
Nairobi-based Lori Systems, an e-logistics company, raised an undisclosed amount in funding from Google.
Egyptian startup Convertedin, a marketing operating system for e-commerce brands, raised $3 million in seed funding.