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Editor’s Note
- Week 22, 2023
- Read time: 5 minutes
In South Africa and Nigeria, it seems like the pockets of citizens and the government are getting quite the heatwave thanks to skyrocketing fuel prices. Catch up on the scorching news and more from all across Africa.
Pamela Tetteh Editor, TechCabal.
Editor’s Picks
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SA approves $86 million for e-policingThe Gauteng province in South Africa has given the green light to R1.7 billion ($86 million) for e-policing. This eye-popping sum will be used to acquire crime-fighting gadgets, including drones. Learn more. |
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Nigeria ends fuel subsidiesNigeria has ended fuel subsidies. This move has sent transportation prices soaring to new heights. Now, it’s fueling quite a debate about the future of work in the country. Will folks have to pedal their way to the office? Learn more. |
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Eskom suffers from fuel inflationFuel is also burning holes in government pockets in other African countries.The expenses of South Africa’s state-owned power utility, Eskom, have more than doubled due to the cost of fuel. Learn more. |
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CBN denies naira devaluationThe Central Bank of Nigeria (CBN) dismissed claims that it devalued the naira to ₦630 per $1 from the ₦461 it previously was. Learn more. |
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Zero tax for EV manufacturersDuring the West Africa Automotive Show, Nigeria declared a jaw-dropping 10-year tax “brake” for all electric vehicle manufacturers. Talk about revving up the green revolution! Learn more. |
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Multichoice dabbles in paymentsAs DStv grapples with its TV troubles, Multichoice dives into the payment game. It has launched a brand-new payment platform in partnership with Rapyd and General Catalyst. Learn more. |
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Kenya discontinues HumdaAfter spending millions of dollars, Kenya has paused the roll out of digital ID Huduma Namba. However, the new government is trying out other digital IDs. Learn more. |
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Second stage of Hustler’s fundKenyan president, William Ruto, has kicked off the sequel of the Hustlers Fund. This time around, the government will extend the support to Chamas and SACCOs Learn more. |
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500,000 customers affected by data breachSouth African retail giant JD Group has announced that it suffered a data breach that exposed the personal information of over half a million of its customers. Learn more. |
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NearPay wins award at GITEXNigerian fintech start-up Nearpays won the coveted Fintech and Blockchain Technology at the inaugural Gitex Africa tech conference in Marrakech, Morocco. Read more. |
Who brought the money this week?
- Morrocan PrestaFreedom, a home services marketplace, raised $1.1 million in an undisclosed funding round from Azur International Fund.
- Zofi, an Uganda-based fintech company, raised $1 million in pre-seed funding from Advancly, a Nigerian-based investor Advancly.
- Moroccan health tech company DataPathology received $1 million in an undisclosed funding round from Azur Innovation Fund.
- Zydii, a Kenya-based digital training company, raised an undisclosed amount in a pre-seed funding round from DOB Equity, Kua Ventures, Kaleo Ventures, and NaiBAN.
What else to read this weekend?
- Two years post-acquisition, Paystack is expanding products and gunning for roots in African markets
- How Zambia is prepping to become Africa’s next major tech hub
- How will a unified FX rate affect virtual card operations in Nigeria?
- This platform wants to help SA creatives easily monetise their content. Here is how it works
- Tech builders in Nollywood are trying to solve the industry’s production and distribution problems
- Intron Health is bringing AI superpowers to hospitals in Africa
Written by: Ngozi Chukwu
Edited by: Pamela Tetteh
18, Nnobi Street, Surulere, Lagos, Nigeria
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