SA agency to pay $3.4 billion for crypto fraud

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Editor’s Notice

Week 18, 2023
Learn time: 5 minutes

Lots of fascinating issues occurred throughout the continent this week. On this version, we carry you essentially the most fascinating information from Nigeria, Kenya, and South Africa.

Get pleasure from!

Pamela Tetteh Editor, TechCabal.

Editor’s Picks

	SA agency to pay $3.4 billion for crypto fraud A federal US courtroom in Texas has ordered the CEO of a South African agency to pay $3.4 billion for bitcoin fraud. That is now the largest fraud case involving Bitcoin. Learn more.
	Kenya approves spyware and adware for telephones Kenya desires to curb the sale and distribution of pretend telephones and its answer is a spyware and adware software program on each cellular gadget in its territory. Learn more.
	Nigerian telcos reject NITDA invoice Final week, we reported the newest fallout between Uber, Bolt and the Nigerian ride-hailing union, AUATWON. This week, we interviewed drivers of Bolt and Uber, and so they spoke about their understanding of the scenario. Learn more.
	Cellphone calls get dearer for Nigerians Cellphone calls & knowledge bundles are going to get dearer for Nigerians as the federal government is imposing a 5% excise responsibility on the telecom trade. Learn more.
	Nigeria approves blockchain know-how This week, the Nigerian Ministry for Communication and Digital Economic system introduced the approval and launch of a nationwide blockchain coverage, as part of its 10-year digital economic system plan. Learn more.
	Kenya will get state-backed QR codes for funds The Central Financial institution of Kenya (CBK) has introduced the Kenya Fast Response Code Normal 2023, additionally shortened as KE-QR Code Normal 2023. Learn more.

Lending in Nigeria

Are you interested in the dynamics of borrowing between household and mates, and the way know-how can play a task in fixing the issue?
Then this report by Sycamore, in partnership with TechCabal Insights, is for you.

It gives complete analyses of the casual market and the way know-how could be leveraged to enhance the household lending sector in Nigeria.
Download here.

	Meta loses once more in Kenya Meta’s former content material moderator, Sama, has as soon as once more didn’t shake off the over 180 content material moderators that it has been attempting to put off for months now. The courtroom has granted the international petitioners the best to remain till the matter is resolved. Learn more.
	A hearth incident at Zenith Financial institution Zenith Financial institution, Nigeria’s greatest financial institution by market capitalization, skilled whole infrastructure downtime after a fireplace on the firm’s main knowledge heart. Learn more.
	Nomba raises $30 million Fee service supplier, Nomba, which began out as an AI chatbot, has raised #30 million at a $150 million valuation. Learn more.
	South Africa’s bRAND new forex For the primary time since 2012, the South African Reserve Financial institution—the nation’s apex financial institution—has unveiled new designs for rand notes and cash. Read more.

Who introduced the cash this week?

Nomba, a pan-African cost service supplier, secured $30 million in Pre-Sequence B funding. The oversubscribed fairness funding spherical was led by San Francisco-based Base10 Companions, with participation from Helios Digital Ventures, Shopify, Partech, and Khosla Ventures.
Fedi, a Nigerian bitcoin-focused firm, raised $17 million in a sequence A funding spherical led by Ego Demise Capital. Different taking part buyers embrace Block, Kingsway, Trammell Enterprise Companions, and Timechain.
Tunisian e-commerce firm Drest.tn received $336,000 in an undisclosed funding spherical from 216 Capital Ventures.
Nigerian Insight7, an AI firm, secured undisclosed funding from Discussion board Ventures