This week: Competitors in Kenya

Editor’s Notice

Week 44, 2022
Learn time: 5 minutes

This week, there’s quite a bit to atone for in tech.

Whereas Nigeria strikes to manage your favourite social media platforms, AWS opens a brand new workplace in Lagos. Uber drops its fee charges for drivers in Kenya simply as a brand new competitor YEGO enters the scene, and now South Africans have one much less excuse to offer to charity, as they’ll now make charitable donations in bitcoin, because of Luno.

These and plenty of extra attention-grabbing tales are on this week’s version. Joyful studying!

Pamela Tetteh Editor, TechCabal.

Editor’s Picks

	Nigeria strikes to manage social media Nigeria’s data regulatory company, NITDA, has authorised a brand new Code of Observe. The Code requires all web platforms with over 100,000 customers to register within the nation, pay tax, and delete any content material opposite to Nigerian regulation inside 24 hours. Read more about it.
	Kenyans to pay extra for Fb adverts This week, Meta introduced that every one Fb adverts in Kenya will likely be topic to the nation’s 16% value-added tax (VAT) beginning November 1. The tax will likely be added for each enterprise and private adverts. More about it here.
	AWS launches Nigerian workplace Seven years after launching its first African workplace in Johannesburg, South Africa, Amazon Net Companies is opening up store in one other African nation. This week, the cloud service supplier opened up its workplace in Lagos, Nigeria. More details here.

	YEGO goes to Kenya Kenyan ride-hailing providers have been joined by a brand new competitor this week. Rwandan platform YEGO International entered Kenya with a 12% fee price for drivers. Over 5,000 drivers have joined the app in its first week alone. Read about this drag race.

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	Uber reduces commissions in Kenya In South Africa, MTN is at loggerheads with the nation’s promoting regulator, the Promoting Regulatory Board (ARB). The ARB dominated that MTN misled clients by not disclosing phrases and circumstances for a promotion which promised subscribers free chargers. Here’s more.
	South Africans can now make donations in bitcoin This week, cryptocurrency platform, Luno and meals distribution non-profit organisation, FoodForward SA introduced a partnership that can allow South Africans to make charitable donations utilizing bitcoin. More here.
	Payhippo acquires Maritime Microfinance Nigerian digital lender, Payhippo acquired Maritime Microfinance Financial institution, a monetary establishment that provides loans, helps investments and accepts deposits and financial savings. Although the Central Financial institution of Nigeria (CBN) is but to approve this acquisition, Payhippo says this acquisition will allow them to instantly entry Nigeria’s Inter-bank Settlement System (NIBSS). Read more.
	MTN will present insurance coverage for Africans The MTN Group and Sanlam, one of many largest non-bank monetary service suppliers on the continent, have introduced a partnership to supply insurance coverage throughout Africa. The partnership will likely be applied utilizing MTN Group’s insurtech platform, aYo. Read more.

Who introduced the cash this week?

Egyptian fintech, MoneyFellows raised $31 million in collection B funding. The spherical was led by CommerzVentures, Center East Enterprise Companions (MEVP), and Arzan Enterprise Capital. Different taking part traders embrace Invenfin, Nationwide Funding Firm (NIC), and present traders resembling Partech, Sawari Ventures, 4DX Ventures, and P1 Ventures.

Nigerian prop-tech firm, SmallSmall raised $3 million in seed funding from Oyster VC, Asymmetry Ventures, Vivaz and Area of interest Capital, in addition to different particular person angel traders resembling Ean Fannan of Chartboost, Adam Meghji of Universe, Jimmy Ku of Flutterwave, Samir Goel and Wemimo Abbey of Esusu, Jason Njoku of Iroko and Tunde Kara of Vendease.

South Africa’s privacy-by-design firm Omnisient raised an undisclosed quantity of funding in a spherical led by Buffet Investments and KLT. Different taking part traders embrace One5, ENL, Investec, Nedbank, and the Shoprite Group.