Editor’s Word
- Week 39, 2022
- Learn time: 5 minutes
Multinational oil large Shell buying a clean-energy firm is additional proof that we’re in fascinating instances, given Shell’s historical past with air pollution. Sultan coated that story this week, and we spotlight it right here, alongside different wonderful tales from TechCabal this week.
Completely happy post-Friday.
Kelechi Njoku Senior Editor, TechCabal.
Editor’s Picks
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Sky.Backyard to close downThe long run is brittle for a number of startups because of the funding winter. Three months after Kenyan foodtech Kune shut down, one other Kenyan startup Sky.Backyard, a B2C market, has introduced that it could should tow the identical path quickly. |
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Nigerian buyers sue in KenyaOver 2,000 Nigerian buyers have petitioned Kenyan courts to launch funds which have been earlier frozen by the Asset Restoration Company (ARA) in a fraud investigation in opposition to fintech unicorn Flutterwave. |
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Lagos suspends tech hub auditsNigerians accused the Lagos Security fee of overtaxing the tech sector when it introduced that every one coworking areas and tech hubs could be required to pay an annual sum of ₦150,000 ($347) for upcoming audits. Now the audits have been suspended. |
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Uber and Bolt drivers go sluggish in KenyaUber and Bolt drivers stage go-slow protest in Kenya to strain each ride-hailing corporations to scale back their commissions to 18%. The drivers say that the rising value of gasoline is burning an excessive amount of off their earnings. |
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Greater borrowing charges loom over NigeriaNigeria’s apex financial institution has raised rates of interest to a document excessive to stope the document inflation. That is in one of the best curiosity of Nigerians, however issues could worsen earlier than they get higher as industrial banks will even enhance their curiosity on loans they provide enterprise individuals. |
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Daystar Energy sells to shell
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Jumia companions with ZiplineE-commerce large Jumia now has wings. It has partnered with drone supply service Zipline to supply on-demand drone supply providers to its costumers in Africa. The service will first roll out in Ghana and never Nigeria, its largest market. |
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Safaricom makes overdrafts cheaper
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The race for 5G dominance in SA
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Paymob companions with Tabby
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Who introduced the cash this week?
- Yellow Card, a crypto trade platform, closed a $40 million collection B spherical led by Polychain Capital.
- Vendease, a Nigerian digital procurement platform, secured $30 million in Collection A funding. The spherical was led by Partech Africa and TLcom.
- South African id startup, iDENTIFii, received $15 million in development capital. The spherical was led by African funding firm Come up.
- Uganda-based fintech, Numida, raised $12.3 million in a pre-Collection A equity-debt funding spherical led by Serena Ventures with participation from Breega, 4Di Capital, Launch Africa, Soma Capital and Y Combinator.
- South African dwelling providers startup, SweepSouth, secured $11 million in a spherical led by Alitheia IDF, a gender-lens non-public fairness fund.
- Farmerline, a Ghanaian-based agritech firm raised a $1.5 million extension to its earlier $12.9 million pre-Collection A introduced in April.
TC Recreation: Unscramble “Nigerian”
Unbiased Nigeria is 62 right this moment! What number of phrases are you able to create from “Nigerian” with out repeating any letter?
High Tweets of the Week
What else to learn this weekend?
- The surge of BNPL: How Africans are opening up to credit score.
- How African fintechs can obtain regulatory compliance.
- Can Haul247 succeed the place its on-line logistics predecessors failed?
- What is going to it take for Nigerians to trust social commerce?
- Subsequent Wave: Can tech founders efficiently run their startups from overseas?
- Ladies in boots: Nigeria feminine founders share their bootstrapping expertise.
- How Nigerian corporations are utilizing extended reality to develop options
- How Algerian Yassir is leveraging users’ trust to construct francophone Africa’s largest tremendous app.