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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

SA approves $86 million for e-policing

The 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.

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Nigeria ends fuel subsidies

Nigeria 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?

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Eskom suffers from fuel inflation

Fuel 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.

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CBN denies naira devaluation

The Central Bank of Nigeria (CBN) dismissed claims that it devalued the naira to ₦630 per $1 from the ₦461 it previously was.

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Zero tax for EV manufacturers

During 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!

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Multichoice dabbles in payments

As 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.

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Kenya discontinues Humda

After 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.

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Second stage of Hustler’s fund

Kenyan 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.

500,000 customers affected by data breach

South 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.

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NearPay wins award at GITEX

Nigerian 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.

Written by: Ngozi Chukwu

Edited by: Pamela Tetteh

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