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This Week: Nigeria rejects new tax law

By Ngozi Chukwu Sep 10, 2022

Image source: Techcabal

Editor’s Note

Week 37, 2022
Read time: 5 minutes

This week, Damilare looked into Y Combinator’s six-year record with gender parity in the startups it has backed. What do the numbers say about the women-led startups that have made it to YC? You want to find out!

Stay safe this weekend.

Kelechi Njoku, Senior Editor, TechCabal.

Editor’s Picks

	60 African startups receive $4 million from Google Google has given $4 million funding to 60 African startups with no financial strings attached. The equity-free funding was granted to startups led by Africans from 10 African countries. Get more details
	Uganda passes Computer Misuse Bill The dollar bill might be the only bill Africans trust. Uganda has passed a controversial Computer Misuse Bill that promises national cohesion and cybersecurity but threatens free speech and digital rights. Learn more.
	Nigeria pressures MultiChoice Nigerians might have to wave goodbye to Big Brother Naija. The government has asked MultiChoice to give Nigerians a pay-as-you-view option as the monthly bundles are becoming more expensive. Find out more.
	Little goes electric in Kenya Super app Little is making big electric moves in Kenya; fuel is scarce and expensive. Petrol vehicles are causing air pollution, illness, and death. Little has launched electric bicycles and scooters to give Kenyans an environmentally and pocket-friendly option. Learn how they work.
	South Africa to get free WiFi from TikTok No matter how much time ticks and tocks away, South Africans can spend more time on TikTok without spending a single rand on data. The social media platform is piloting free WiFi at 50 select hotspots across the country. Learn where the hotspots are.

	Showmax gets a Nigerian general manager MultiChoice’s streaming platform ShowMax has appointed Opeoluwa Filani as its first general manager in Nigeria. Filani has held senior management roles for 16 years. Before joining Showmax, he was country sales director at advertising company JCDeaux. Read what MultiChoice said about him.

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Walmart and Amazon war looms in SA

Two warring American giants are coming to South Africa. Walmart is expanding to Kenya via the acquisition of Massmart, while Amazon is launching a multi-million dollar marketplace in the country. A fight for market dominance looms.

Learn more.

Nigeria rejects new tax law

Nigerians have dodged a ~~bullet~~ tax. The Nigerian government has halted a new telecommunications tax in its tracks. The tax, a 5% levy on top of the current 7.5% value-added tax, was supposed to go into effect this year.

Find out why it was halted.

Is Y Combinator a man’s world?

The Google Black Founders Fund for Africa launched last year but has already achieved gender equality. This year, half of its grantees were women-led startups. Y Combinator, on the other hand, remains dominated by male-led startups despite its leadership talking about gender diversity for six years now.

Learn more.

Who brought the money this week?

Nigerian-based fintech company, NowNow raised $13 million in a seed round led by NeoVision Ventures, DLF Family Office, and Shadi Abdulhadi.
Metaverse Magna, a Nigerian-based blockchain gaming platform by Nestcoin raised a $3.2 million seed sale token round.
Blockchain payments startup Bitmama raised $2 million pre-seed round.
Egyptian e-commerce website, El-dokan raised $550,000 in pre-seed funding from a cluster of investors, including EFG EV, Flat6Labs, 500 Global, and Hala Venture
Egyptian auto-tech company Carzami raised an undisclosed amount in pre-seed equity and debt funding round.

TC Game: Unscramble “billions”

~~How many billions do you need?~~ How many words can you create from “billions”? Find out.

Top Tweets of the Week

What else to read this weekend?

How Onboardly is helping companies onboard new hires easier.

Africa does not need more development banks.

Kippa secures Super-Agent banking licence to help Nigerian SMEs.

How to get a Nigerian international passport online.

Ethiopia wants to open its banking sector.

This Nigerian is digitally disrupting the car insurance industry.

Meta launches its Creators of Tomorrow initiative with 10 digital creators from sub-Saharan Africa.

Be Mobile Africa launches in South Africa to serve the unbanked and underbanked.

How Beacon Power Services is improving access to electricity in Africa.

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Written by: Ngozi Chukwu

Edited by: Kelechi Njoku

18, Nnobi Street, Surulere, Lagos, Nigeria

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Editor’s Note

Week 37, 2022
Read time: 5 minutes

Stay safe this weekend.

Kelechi Njoku, Senior Editor, TechCabal.

Editor’s Picks

	60 African startups receive $4 million from Google Google has given $4 million funding to 60 African startups with no financial strings attached. The equity-free funding was granted to startups led by Africans from 10 African countries. Get more details
	Uganda passes Computer Misuse Bill The dollar bill might be the only bill Africans trust. Uganda has passed a controversial Computer Misuse Bill that promises national cohesion and cybersecurity but threatens free speech and digital rights. Learn more.
	Nigeria pressures MultiChoice Nigerians might have to wave goodbye to Big Brother Naija. The government has asked MultiChoice to give Nigerians a pay-as-you-view option as the monthly bundles are becoming more expensive. Find out more.
	Little goes electric in Kenya Super app Little is making big electric moves in Kenya; fuel is scarce and expensive. Petrol vehicles are causing air pollution, illness, and death. Little has launched electric bicycles and scooters to give Kenyans an environmentally and pocket-friendly option. Learn how they work.
	South Africa to get free WiFi from TikTok No matter how much time ticks and tocks away, South Africans can spend more time on TikTok without spending a single rand on data. The social media platform is piloting free WiFi at 50 select hotspots across the country. Learn where the hotspots are.

	Showmax gets a Nigerian general manager MultiChoice’s streaming platform ShowMax has appointed Opeoluwa Filani as its first general manager in Nigeria. Filani has held senior management roles for 16 years. Before joining Showmax, he was country sales director at advertising company JCDeaux. Read what MultiChoice said about him.