This week: Jumia’s CEOs step down

Editor’s Word

Week 45, 2022
Learn time: 5 minutes

This week, there’s rather a lot to atone for in techThis week, Kuda ventures into new vistas, MTN says 👋🏾 to Afghanistan and Jumia leaders scramble to get off a sinking ship. Simply one other week’s happenings in tech?

Learn on to seek out out.

Pamela Tetteh Editor, TechCabal.

Editor’s Picks

	Jumia’s CEOs step down Whereas the Jumia ship suffers the turbulence of persistent losses and a plummeting share value, some leaders are leaping off the board. The founder and co-founder CEOs of the African ecommerce big have resigned, and the corporate has appointed a brand new administration board. Find out what’s going on.
	Sendy will get funding from Japanese VC After shedding 30% of its workforce, Kenyan-based fulfilment and logistics startup, Sendy has obtained what seems to be bail-out funding from Japanese VC MOL PLUS. The corporate has been aggressively chopping prices over the previous three months. More about it here.
	Stears launches elections tracker for Nigeria In 2023, 94 million Nigerian voters will take part in 1,477 elections amongst 14,822 candidates. Nigerian knowledge and intelligence firm, Stears, has launched Stears Elections, an elections knowledge web site that allows Nigerians to trace the elections with a visible map. More details here.
	MTN sells its Afghanistan arm MTN is promoting its arms within the Center East. The corporate offered its enterprise in Yemen in 2020 and halted operations in Syria and Afghanistan. On Friday, the telco lastly introduced that it has offered its Afghanistan enterprise to Beirut-based funding firm, M1 New Ventures. Learn why.

	2G and 3G networks to retire Legacy networks 2G and 3G are going into retirement throughout Africa. Many operators and governments are pushing to tug the plug on the older 2G and 3G spectrums to extend the adoption of the extra environment friendly 4G and 5G networks. Learn why.

Companion Content material

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	MTN features 800,000 subscribers in SA South Africa’s second-largest cellular community operator, MTN, elevated its subscriber base by 800,000 up to now three quarters of 2022. This brings its complete subscriber depend to 35.9 million. The corporate’s share value additionally gained 2% after this was introduced on Friday. Here’s more.
	Quona Capital raises $332 million In the midst of a funding winter, Quona Capital, a enterprise capital (VC) agency centered on rising markets, has pulled collectively its third fund, valued at $332 million. It surpassed its $250 million goal and the $203 million it secured for its second fund in 2020. More here.
	Kuda expands to the UK Are you aware the saying, “The sky is large enough for all birds to fly”? Nigerian neobank Kuda is about to seek out out if that is true within the London sky. Kuda has expanded to the UK to offer its digital banking providers, together with direct debits and native transfers, to diasporan Nigerians. Read more.
	Darkish Fibre Africa grows bigger in SA After Telkom-owned Openserve, Darkish Fibre Africa is at present the second-largest fibre community operator in South Africa. This main enhance is a results of Vodacom’s acquisition of Darkish Fibre Africa’s working licenses. Read more.
	Multichoice warns shareholders Extra prospects doesn’t at all times imply more cash. Multichoice has warned shareholders that its upcoming half-year monetary outcomes will see a discount in earnings regardless of a rise in subscribers. Read more.

Who introduced the cash this week?

Yassir, an Algerian tremendous app, received $150 million in collection B funding. The spherical was led by BOND, with participation from DN Capital, Dorsal Capital, Quiet Capital, Stanford Alumni Ventures (aka Spike Ventures) and Y Combinator, amongst different buyers.

Egyptian fintech agency Blnk closed $32 million in pre-seed and seed funding. The rounds have been led by Emirates Worldwide Funding Firm (EIIC) of Abu Dhabi and Sawari Ventures of Egypt, with participation from native and worldwide angel buyers.

Nigeria-based services and products agency, CutStruct raised $600,000 in a pre-seed funding spherical. The spherical was led by Zedcrest with participation from angel buyers together with Kola Aina.

Egypt-based food-tech startup, Brotinni raised $600,000 in a seed funding spherical led by Innlife Investments.

Kenyan logistics firm, Sendy received an undisclosed quantity in funding from MOL PLUS.

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What else to learn this weekend?

Inside Nigeria’s used-iPhone market.
A new way to create sustainable African companies.
African tech abilities are leaving in droves, however these ones are staying to build.
5 on-line companies you can begin with virtually no capital.
Catlog launches a search-by-hashtag characteristic for web shoppers.
Uganda needs to 3D print human tissue in house.
Eleven African startups win at Africa Tech Festival.
Kloud Commerce buyers deny Board’s rebuttal.