CRYPTO MARKET

Bitcoin	$16,955	– 1.18%
Ether	$1,256	– 1.14%
BNB	$285	– 1.30%
FTX Token	$1.52	+ 2.22%
Name of the coin Price of the coin 24-hour percentage change		Source: CoinMarketCap

* Data as of 03:43 AM WAT, December 12, 2022.

RUTO TO ESTABLISH A STARTUP FUND IN KENYA

According to Kenya President William Ruto, preliminary work is ongoing to establish a startup fund which will give startups in the country the opportunity to scale up and become serious enterprises.

More on the startup fund

Ruto stated that the bill is currently being prepared for presentation in parliament and that the fund will help in derisking startups in the country and set them on a path to growth.

The presidency also announced that the government will partner with leading tech giants to train Kenyans to use digital skills at international standards. He will also launch Hustler Fund Season 2 by February 2023 which will focus more on established entrepreneurs and startups.

Zoom out: The Hustler Fund is Ruto’s flagship $410 million loan project and about 1.14 million Kenyans have registered for it. Last week, concerns rose about privacy issues surrounding the fund.

DATALEUM WINS STARTUP OF THE YEAR AWARD

Talent accelerator, Dataleum, was recognized as the StartUp of the Year at the Art of Technology Lagos award ceremony held on December 9, 2022. The award ceremony is the first ever sponsored by the Lagos State government to recognize tech startups and personalities for their impact and development of the Nigerian technology landscape.

The Talent Accelerator company emerged winner of the ‘StartUp Category’ as an organization that has excelled in for its efforts to fuel the talent pipeline of the Nigerian tech ecosystem.

In May 2022, Dataleum became the official training partner of the Lagos Innovate Talent Development Program run by the Lagos State Employment Trust Fund (LSETF) to upskill unemployed Nigerians with in-demand tech skills.

‘TIS THE SEASON OF DOPE REWARDS

Christmas is coming a little earlier this year courtesy the TechCabal team, and you could get some pretty dope gifts. 

So here’s the deal – we think more people should read TC Daily, and we need your help to tell them about it.

But what’s in it for you? That’s where the dope gifts we talked about comes in. For every 5, 10, 25, 50 people you tell about TC Daily we’ll reward you. 

We also made it easy for you to tell them about it. Just follow these 3 steps;

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TC INSIGHTS: MAKE AFRICA HEALTHY

By 2030, Africa’s health sector will be worth a whopping $239 billion. Yet, government expenditure in the sector falls below the WHO standard- 5 percent of GDP. In most countries, health expenditure is largely a private affair, averaging 50% in some and rising as high as 70% in places like Nigeria. Out-of-pocket expenditures make up a huge percentage of private healthcare funding sources.

As a result, Africans with little or no financial resources are unable to access healthcare services, putting more pressure on the already stretched government services. For some time, charity organisations have helped fill this gap, providing healthcare services to people living in rural areas on the continent. Despite their efforts, healthcare indices like the number of physicians per 1000 people and bed spaces remain abysmally low.

With technology on the rise, an opportunity arises to utilise scarce resources more efficiently. According to Dr Rasha Randy, co-founder of Chefaa “The gap in healthcare services in Africa is huge, leaving behind opportunities for health-tech startups to fill.”

Currently, there are no central systems for players within the healthcare sector to aggregate and track patient’s data. This lack of data results in healthcare providers having limited views of patients ‘medical history. According to Endeavor Nigeria’s Inflection report, this situation stifles the development of prevention strategies and advanced treatment methods tailored to the region and by extension, restricts service efficiency.

By facing these major issues limiting the potential of the sector, healthtech startups have been able to provide healthcare services at a reduced cost for Africans. Yet, the journey is far from over. There is a need for increased collaboration between startups operating in different verticals across the healthcare value chain. Similarly, policies that encourage novel innovation should be encouraged to make them appealing to investors.

Technology can help solve decade-long inefficiencies in Africa’s healthcare by enabling healthcare providers deliver better services to people, thereby reducing the burden on the government. The increase in VC funding to the sector within the last five years is enough reason for optimism. 

Africa has a chance to build on this and strengthen these innovators.

You can download all our reports here and watch videos from our events. Send your custom research requests here.

IN OTHER NEWS FROM TECHCABAL

Etisalat plotting acquisition of Vodafone’s Vodacom stake.

Fintech in 2022, 2023 predictions..

JOB OPPORTUNITIES

• Binance – SEO Content Specialist – Lagos, Nigeria

• Klasha – Senior Product Manager, Senior Product Designer – Lagos, Nigeria

• ETAP – Growth Associate – Africa (Remote)

• Digital Vision East Africa Limited – Android Developer – Nairobi, Kenya

• Optica Limited – Data Analyst – Nairobi, Kenya

• Habaripay (GTCO) – Front End Developer, UI/UX Designer – Nigeria

• Fooji Inc –Full Stack Developer – (Africa) Remote

• MTN – Senior Manager, Digital Marketing – Nigeria

• Big Cabal Media – Learning & Development Executive, Software Developer, Commercial Director, Sales Associate – Lagos, Nigeria (Hybrid)

• Zikoko – Money Writer, Inside Life Writer, HER Writer, Copy Editor – Remote

• TechCabal – News Editor – Africa 

There are more jobs on TechCabal’s job board. If you have job opportunities to share, submit them at bit.ly/tcxjobs. 

What else is happening in tech?

• E-tolls failed, and the South African public had to foot the bill.

• Binance is trying to calm investors, but its finances remain a mystery.

• What companies still get wrong about layoffs.

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