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Editor’s Note

  • Week 21, 2023
  • Read time: 5 minutes

This week brings a mix of delightful firsts and bad news. Read on to learn about Kenya’s first electric bus charging station, and unfortunate incidents like breaches, licence losses, and more.

Pamela Tetteh Editor, TechCabal.

Editor’s Picks

Chinese hackers attack Kenya

In a wok of digital mischief, Chinese hackers took aim at Kenyan government institutions from 2019 to last year. Their cunning plan? To access to billions of dollars in debt owed to Beijing.

Learn more.

Patricia loses crypto assets in breach

Digital asset marketplace Patricia has reported a compromise of its crypto assets. They’re putting their detective hats on and claim to have unmasked one of the naughty culprits.

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Eyowo’s challenging year

The digital bank Eyowo, has endured a stormy year. While preparing for a mini-pivot, it has owed salaries and this week, its MFB licence was revoked.

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Kenya warns against Wangiri scams

The Communications Authority of Kenya has warned Kenyans not to return calls from any strange international numbers as they may lose money in the popular Wangiri scam.

Learn more.

Kenya gets first electric bus charging station

BasiGo Company has established the Kenya’s first bus charging station! Now, Kenyans can plug in and zap away those carbon emissions.

Learn more.

Central Bank of Nigeria revokes 179 licences

On Tuesday, the Central Bank of Nigeria (CBN) decided to clean house and sweep away all those financial cobwebs. It revoked licences of 179 microfinance banks (MFBs) and fintech.

Learn more.

Nigeria’s ICT minister moves to change the startup act

In a much criticised move, Nigeria’s minister of communications and digital economy, Isa Pantami, is trying to institute a new board to drive the Nigerian Startup Act (NSA).

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Kenya’s $40 smartphone may cost more

President Ruto’s push for sky-high taxes may turn Kenya’s eagerly anticipated pocket-friendly locally assembled $40 smartphone into a distant dream.

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Bolt opens first Kenya office for drivers

Bolt sprints into Kenya with a new office, but don’t mix it up with their fancy Nairobi hub. That one’s reserved for high-level managers overseeing operations across Africa. The news one is for handling drivers’ concerns.

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China’s Tesla is coming to SA

Chinese automotive company, Build Your Dreams (BYD), also known as “China’s Tesla”, will be launching its compact electric crossover—the BYD Atto 3—in South Africa soon.

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Vodafone to sell MPHCL for $1

Kenya’s Safaricom is shouldering extra duties, as Vodafone has declared that it will hand over M-Pesa Holding Company Limited (MPHCL) to Safaricom for just a dollar.

Read more.

Who brought the money this week?

  • South African edutech company, Play Sense, raised an undisclosed amount in pre-seed funding from Grindstone Ventures.
  • Kunda Kids, a Nigerian media publishing company and creative studio, raised $700k in the pre-seed funding round. 
  • Egypt-based health-tech company Dawi Clinics closed $8 million in an undisclosed funding round.
  • South African digital banking platform, Tymebank, raised $77.8 million in a pre-series C funding round. 

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Written by: Ngozi Chukwu & Hannatu Asheolge

Edited by: Pamela Tetteh

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