Naspers Ltd. leads $540million investment in Indian edtech, Byju; valuation jumps to $3.6billion
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CowryWise has been listed by Inc. as one of the 50 world-changing startups to watch out of 2,500 early stage startups from 65 countries around the world. The year old company provides an automated investing platform for users to invest and save starting from capital as low as one hundred naira.
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| Indian edtech, Byju, has raised $540 million as part of a mammoth funding round led by Naspers Ltd, South African investor giants. Byju is currently valued at $3.6 billion. “We are happy to have prominent and long-term partners like Naspers and CPPIB on board with us. This partnership will strengthen our ability to deliver on our vision to build the world’s largest education company,” a statement from founder, Byju Raveendran, said. |
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| Zimbabwean mobile money transfer service, Cassava Zimbabwe, is set to list on the Zimbabwe Stock Exchange (“ZSE”) today, Tuesday the 18th of December 2018. This follows the demerger of Cassava Zimbabwe from Zimbabwe’s leading telecommunications group, Econet Wireless Zimbabwe Limited (“EWZL”). CEO, Eddie Chibi, says the listing will unlock significant value for shareholders, and operating independently will allow the Cassava Zimbabwe management team greater focus on the implementation of its strategy. |
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| Medical doctors in Nigeria are increasingly seeking greener pastures outside the shores of the country. As are tech developers in an industry that is still being nursed to reach full maturity. This Quartz article sheds more light on Nigeria’s latest brain drain. |
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| Kwese-iflix has partnered media company, BusTop TV on a comedy series, Comic Tick, on the Kwese-iflix platform. This is in line with Kwese’s drive towards creating more local content after the death of its satellite TV service. Techzim says that “since its inception, Kwese had always promised that it will start to produce local content” but had been silent about it until now. |
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| Facebook is apologising. Again. A recent breach on its platform exposed 6.8 million users’ private photos, including the ones they hadn’t posted. Users affected were said to have granted third party apps access to their accounts and the social platform would usually restrict access to photos shared on the user’s timeline. “In this case, the bug potentially gave developers access to other photos.” A similar breach in April affected over 200,000 Nigerian accounts. |
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| As the holidays draw closer, we will be sending off the last edition of TC Daily for the year on the 21st of December, 2018. We will return to your mailboxes on the 3rd of January 2019. In between, we will endevour to keep you company this festive season across our platforms. Keep an eye out! |
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Season’s Greetings.
We’ll see you tomorrow.
– Kay.
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