👨🏿‍🚀TechCabal Daily – Cameroon’s new score

Funding

Cameroon has finalised a CFA23.21 billion ($38 million) funding agreement with South Korea to set up a digitised national registry. Nearly half of all births in Cameroon are unrecorded, making it difficult to plan for healthcare, education, and voter registration—especially in rural areas.

This lack of documentation isn’t unique to Cameroon alone. Globally, nearly 40% of deaths are not registered, and in low-income countries, only 8% of reported deaths have documented causes.

Thankfully, even before the partnership with South Korea, Cameroon was already taking matters into its own hands. It issued 500,000 birth certificates in 2022 to previously undocumented children in rural areas, off the back of a $2.8 million grant. 

And in 2023, it partnered with OpenCRVS, an open-source civil registration platform to develop a database for residents in 20 municipal councils, funded by research agencies from Germany and South Korea.

Now, with bigger funding comes bigger plans. Cameroon is set on using technology to make things better. Additionally, the funding will support other initiatives: $4.8 million for an identity system, $5.6 million for an e-procurement platform, and $8 million for a “Smart Campus” project to improve public record-keeping.

As Cameroon plans to digitise its record-keeping process, cloud cost is expected to increase in order to accommodate the change. And if anything, managing data on the cloud is expensive.

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Regulations

It’s been raining taxes and regulations from Nigerian lawmakers. 

Nigerian lawmakers have introduced a raft of policies over the past few days. On Wednesday, Nigerian President Bola Ahmed Tinubu wrote to the senate to demand a 50% tax on foreign exchange gains made by banks.

Everybody is getting taxed regulated: In a new bid to regulate and protect trading on Nigerian e-commerce platforms, the federal government alongside the National Insurance Commission (NAICOM) is developing a bill that demands new information requirements from e-commerce platforms. 

The proposed bill requires e-commerce platforms like Jumia and Konga to provide crucial information about themselves, including their legal names, addresses, and phone numbers. This information will be used to communicate with the seller and used in cases of legal proceedings. 

The bill also requires these platforms to provide “accurate and accessible information describing the goods or services offered”. The bill requires electronic sellers to clearly disclose transaction terms, conditions, and costs to consumers in a concise and comprehensive manner, including payment terms and methods; return, exchange, cancellation, and refund policies; and withdrawal and termination conditions.

The stakes are now higher: The bill is part of a broader National Digital Economy and E-Governance Bill which will see e-commerce startups fined if they contravene any section of the law. When passed into law, Nigeria’s Minister of Communications, Innovation, and Digital Economy, Bosun Tijani, says the bill will provide a legal framework and accelerate progress in the digital economy.

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Internet

Elon Musk’s SpaceX has secured a license to operate its Starlink satellite internet service in South Sudan, a welcome development for a country struggling with a 12.1% internet penetration rate. However, the path forward for Starlink isn’t exactly smooth sailing.

First hurdle: finding a partner. While the license is a green light, SpaceX needs a local distributor to sell Starlink terminals within South Sudan. South Sudan has faced instability since gaining independence in 2011, and recent unrest in neighbouring Sudan has added strain. This complex political and security landscape poses a challenge for Starlink’s rollout.

Second hurdle: avoiding black markets.A recent Bloomberg investigation revealed illegal Starlink terminal sales in some countries, raising concerns about potential misuse in South Sudan. Ensuring responsible distribution will be critical.

The big picture: Despite these challenges, Starlink’s arrival could significantly improve internet connectivity for South Sudan’s citizens, with only 3.97 million mobile connections currently available according to GSMA. However, successfully navigating these hurdles will be crucial for Starlink to realise its potential.

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TC Insights

This week, Egyptian fintech startup Dopay closed a US$13.5 million Series A extension round, topping up its $18 million Series A round raised in 2021. Argentem Creek Partners led the round with participation from existing investors. (July 18)

Here’s the other deal for the week:

• South African travel-focused fintech TurnStay secured US$300,000 in funding from Silicon Valley and New York-based investors DFS Lab and DCG. (July 16)
• Kenya’s Uncover, a tech-enabled emerging beauty brand, closed a US$1.4 million seed II funding. The round was co-led by EQ2 Ventures and IgniteXL Ventures, with participation from Chui Ventures, Samata Capital, and Altree Capital. As part of the round, Uncover also facilitated a significant secondary transaction to accommodate investor demand.

Follow us on Twitter, Instagram, and LinkedIn for more funding announcements. Before you go, our State of Tech in Africa H1 2024 Report is out. Click this link to download it.

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Events

• You can still get an early bird ticket to the second edition of TechCabal’sMoonshot Conference!  From October 9–11, 2024, at the Eko Convention Centre, Lagos, Nigeria, you can join Africa’s biggest thinkers and players like Iyin Aboyeji, Wiza Jalakasi, June Angelides, Kola Aina on a global launchpad for change. If you want to join these stakeholders in Africa’s tech ecosystem for three days of insightful conversations, then get an early-bird ticket to Moonshot 2024 at 20% off. 


• The Nigeria Fintech Forum is set to hold its third edition on July 25, 2024, at the Civic Centre, Victoria Island, Lagos. Nigeria Fintech Forum plays host to the most senior leaders across Nigeria’s fintech and banking, uniting industry stakeholders who are defining the future of the ecosystem, If your work resonates with fintech, payments or banking, This is where you should be. Get a ticket here. 


• JICA will organize an event related to Nigeria’s startup ecosystem in Japan on Sep 5th 2024. Find out more here.

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Written by: Emmanuel Nwosu, Mobolaji Adebayo & Faith Omoniyi

Edited by: Muyiwa Olowogboyega & Timi Odueso

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