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Editor’s Note

  • Week 19, 2023
  • Read time: 5 minutes

The weekend is here, let us rejoice! Start off your weekend reading the compelling stories that await you in this edition of Tc Weekender.


Pamela Tetteh Editor, TechCabal.

Editor’s Picks

Kenya to tax content creators

Kenyan content creators are in for a tax-y ride! The Kenyan government is slapping a 15% withholding tax on every payment that goes into the pockets of our beloved digital creators.

Learn more.

SA gets on the greylist

South Africa has landed itself on the “grey list” for financial crime, courtesy of the Paris-based Financial Action Task Force (FATF). It appears the country has been caught snoozing on its efforts to combat illicit financial flows and terrorism financing.

Learn more.

Sama must pay moderators

Sama’s “layoff party” was cancelled weeks ago, and now the Kenyan court is asking the former content moderation upstart to ensure that the moderators it has been trying to fire get paid their salaries.

Learn more.

Safaricom’s new license

Safaricom Ethiopia scored a license from the National Bank of Ethiopia to offer mobile money services. With Safaricom’s track record, the Ethiopian fintech scene should expect the telecom to spice things up and bring the heat.

Learn more.

MTN wants to sell its West African assets

It appears that MTN is dialing down its operations in certain regions. Word on the wire is that MTN is engaging in talks to unload some of its West African assets to Axian Group, a pan-African investor in telecoms.

Learn more.

NBC can no longer fine stations

A Nigerian Federal High Court has dropped a bombshell ruling, saying that the Nigerian Broadcast Commission (NBC) doesn’t have the power to dish out fines to broadcast stations for any reason.

Learn more.

TC Daily

Get the most comprehensive insights and stories about Africa’s tech and business ecosystem. TC Daily goes out every week at 7 AM (WAT). .

Zimbabwe’s gold currency

Zimbabwe is moving forward with the launch of its gold-backed digital currency this week. Despite the IMF labeling it a wrong move, the country used nearly 140 kilograms of gold reserves to back the first sale of its digital money.

Learn more.

Mozambique gets 5G

East Africa’s Mozambique joined the club of countries embracing the cutting-edge fifth-generation network (5G), all thanks to telecom company Vodacom.

Learn more.

Khazna plans for $250 million data centre in Egypt

Guess who’s joining the party? Khazna, the UAE-based wholesale data center provider is set to shell out a staggering $250 million to build a brand-new data center in Egypt.

Learn more.

Updates from Google I/0

At this year’s Google I/O, the tech giant announced a folding phone, key software updates, and of course, generative AI which will most notably be coming to Search.

Read more.

Who brought the money this week?

  • South African Health-Tech company Quro raised $1.3 million in an undisclosed funding round from Mineworkers Investment Company (MIC). 
  • Egypt-based fintech company Balad closed an undisclosed amount in a pre-seed funding round. The round was led by Acasia Ventures. Other investors in the round include Launch Africa, Future Africa, V&R, Magic Fund, First Circle, Sunny Side, and several family offices.
  • Kenyan fundraising company, Raise, secured undisclosed funding from Carta, a San Francisco-based company specialising in capitalisation table management and valuation software.
  • DigsConnect, a South African student housing company, received undisclosed funding from Itaba Capital.

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Written by: Ngozi Chukwu & Hannatu Asheolge

Edited by: Pamela Tetteh

Kenya says Sama must pay moderators

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