FinTech

Mobile data is literally money in Kenya

By Ngozi Chukwu Jul 01, 2023

Image source: Techcabal

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Editor’s Note

Week 26, 2023
Read time: 5 minutes

Hello 👋🏾

Buckle up and dive into interesting African tech news, with a focus on the happenings in the vibrant East African country of Kenya.

Plus, we need your genius insights to sprinkle some extra pizzazz on this newsletter, so please take our survey and help us unleash the full force of awesomeness upon you!

Pamela Tetteh Editor, TechCabal.

Editor’s Picks

	Kenyans can now pay with data Kenya’s biggest telecoms operator, Safaricom, has launched a new service that will allow customers to pay for products and services using their internet data balance. Read more
	CBN draws a line While Kenya pushes the boundaries with payments technology, the central bank of Nigeria (CBN) has imposed restrictions on the maximum transaction amounts permitted for residents using contactless payment technology. What are the limits?
	What’s the deal with South Africa’s new identification bill? South Africa’s identification bill has people losing sleep about the privacy risks of consolidating all citizens’ ID information into a single system. Learn more.
	Nigerian banks to do social media checks In more news about controversial rules, a wave of raised eyebrows swept across Nigeria when the CBN made it mandatory for banks to request customers’ social media IDs as part of the Know Your Customer (KYC) process. Is this a big deal?
	Kenya’s digital sex offenders registry Kenya has launched the first digital sex offenders registry in Africa. Now with a few simple clicks, you can find out if someone is a registered sex offender in Kenya. Learn more.

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	Ethiopia’s Safaricom gets a new CEO Wim Vanhelleputte from MTN Group will assume the position of CEO at Safaricom Ethiopia, succeeding Anwar Soussa in the role. Learn more.
	Kenya to tax influencers and crypto bros Kenya’s Finance Bill 2023 mandates digital content creators, crypto traders, and digital lenders to pay taxes. How much?
	inDrive is licensed in Kenya inDrive, a ride-hailing platform, has obtained the necessary licences to operate within Kenya. Unlike Uber and Bolt, it allows customers and drivers to bargain the cost of trips. Learn more.
	Flutterwave enters 5-year deal with Microsoft Flutterwave has entered into a five-year technological agreement with technology giant, Microsoft. Now, the fintech company build a new generation of payment services on Microsoft Azure. Find out.
	Free data for Ugandan refugees The Ugandan government has partnered with the World Bank to provide Internet access to 1.5 million refugees living in Uganda’s refugee communities. Learn more.

Who brought the money this week?

Kenyan fashion e-commerce company, ShopZetu, raised $1 million in pre-seed funding. Chui Ventures led the round.
Tappi, a Kenyan e-commerce company, secured a $180,000 grant from Orbit Startups.
Ghana-based web3 startup, Mazzuma, raised an undisclosed amount of venture funding from Adaverse.
Zoie, a South African-based health-tech company, also closed an undisclosed amount in funding from 4DX Ventures and E Squared Investments.