Editor’s Note
- Week 36, 2022
- Read time: 5 minutes
More lay-offs. More regulatory run-ins. I really enjoyed Daniel’s deep dive on Jumia’s evolution beyond ecommerce, and I look forward to you settling into the weekend with this important story.
Kelechi Njoku, Senior Editor, TechCabal.
Editor’s Picks
Risevest CEO steps downFounder and CEO of Risevest, Eke Urum, is facing allegations of bullying, sexual harassment, and intimidation in the workplace. He has been asked to step down from his role pending the result of investigations. Here’s what he told TechCabal. |
|
Flutterwave secures high-profile licenceDespite regulatory hurdles and allegations, Flutterwave secured a Switching and Processing Licence in Nigeria. With this high-profile license, it can work without middlemen and offer more services. Find out which services. |
|
UberEats stops Soweto deliveriesUberEats has braked its wheels in 11 parts of Soweto, South Africa. Customers can still order in-app but have to go pick up their deliveries themselves. UberEats ceased delivery services in the affected areas because of safety concerns. Find out more. |
|
SAPS summoned for doxxing rape victimsThe police also need policing. The South African Police Service (SAPS) allegedly leaked the names, ages, home addresses of 8 women who were gang-raped. The SAPS hasn’t been complying with investigations, so they’ve been summoned to court. Get more details. |
|
Flutterwave responds to new allegationsFlutterwave has denied allegations about fresh money laundering accusations. It said the Kenyan government hasn’t come knocking on its door with new accusations and that it’s complying with current investigations. Read what it told TechCabal. |
|
Technology surpasses oil in GDP contributionTechnology has outrun oil. Now, Nigeria’s tech ecosystem contributes more to its gross domestic product (GDP) than oil. In the second quarter of 2022, the information and communications technology (ICT) sector contributed 18.44% while the oil sector contributed 6.33%. Learn more. |
Partner Content
Want to be a tech bro? Then you have to look the part. Start your journey with TehCabal Merch.
Viamo lays off many employeesAs the frenzy around the pandemic is disappearing, so are people’s jobs. Ghana-based Viamo, which helped NGOs communicate with hard-to-reach communities during the pandemic, laid off many of its workers. It appears that combating misinformation is no longer in demand. Learn more. |
|
Zapper and Stitch team upZapper’s customers will no longer have to log into their bank accounts to pay merchants at Points of Sale. South African fintech Zapper has partnered with payments and data API platform Stitch to enable customers to make instant electronic fund transfers just by scanning their Zapper barcode. Read about it. |
|
Jumia at 10In a continent where only half of new businesses remain standing after 5 years, Jumia has gone on to fly high as a unicorn. Ten years after it was founded, it has evolved to become more than an ecommerce company. Read about Jumia’s evolution. |
|
Trevor Noah recreates a US insurrectionTrevor Noah, host of The Daily Show with Trevor Noah, uploaded a satirical recount of the insurrection by Trump supporters to VoiceMap. VoiceMap is an app that tells you stories about your location. Anyone visiting the US Capitol can relive the event through him. Learn more about VoiceMaps. |
Who brought the money this week?
- Kenya’s Pezesha raised$11 million in a pre-Series A round from Women’s World Banking Capital.
- Duplo, a Nigeria-based company, raised an initial funding round worth $4.3 million from a coalition of investors including Liquid2 Ventures, Soma Capital, Tribe Capital, Commerce Ventures, Basecamp Fund and Y Combinator.
- Nigeria-based fintech Grey raised $2 million in seed funding led by Y Combinator.
- Nigerian fintech company, Anchor, raised $1 million in pre-seed funding.
- Octiv, a South African fitness software company, raised an undisclosed series A funding round from Knife Capital.
TC Crossword: Where did August go?
When you think about August, what comes to mind? For me, it’s my August Salary—it left as quickly as it came. What about you?
What else to read this weekend?
- South Africa to establish an artificial intelligence institute to enenhance theeaching of coding in public schools.
- Quick Fire 🔥with Faisal Sadegh, a product manager.
- “We Are Here, A Thousand of Us”— highlights from the 2022 Wetech Conference.
- MTN has launched its 5G services across Nigeria. Here’s how to plug in.
- McKinsey says African fintech revenue will increase eightfold.
- Transcendance VC wants to show the world that impact investing is not charity.
- Inside OxfordBuildBay’s plan to make land acquisition easy for every Nigerian.
- Next Wave: Open banking in Africa raises more questions than it answers.
- How African talents and employers are finding a rhythm amidst global trends.
- PR for African startups: Crisis Communications.
- Security tips to avoid crypto fraud.
Written by: Ngozi Chukwu
Edited by: Kelechi Njoku