This week: Kuda will get digital banking licence in Pakistan

Editor’s Word

Week 03, 2023
Learn time: 5 minutes

On this week’s version of TC Weekender, the telcos take heart stage. From MTN Ghana preventing a hefty high quality from the federal government to MTN SA being embroiled in a three-way tussle in South Africa, to Africell buying a brand new momo license, the telcos are beginning the 12 months off sizzling, it appears.

Additionally, congratulations are to ensure that Kuda, as they’ve simply acquired a shiny new banking license. For extra tales from the tech business world wide, dive into this week’s version. Pleased studying!

Pamela Tetteh Editor, TechCabal.

Editor’s Picks

	Kuda receives banking license in Pakistan On Friday, Pakistan issued licenses to 5 digital banks to function within the nation, and Nigeria-born Kuda was considered one of them. The license is Kuda’s first step in the direction of changing into a full-fledged financial institution that gives all banking providers with none want for Pakistanis to go to the financial institution branches bodily. Learn more.
	Tanzania backtracks on ride-hailing charges Tanzanian ride-hailing drivers in all probability really feel like they’ve laboured in useless. Nearly 9 months in the past, in response to their protests, the Land and Transport Regulatory Authority (LATRA) set a 15% ceiling on the commissions deducted by ride-hailing providers like Bolt and Uber. LATRA has now backtracked and adopted a 25% fee price attributable to lobbying. Learn more.
	Tanzania slows down CBDC plans In different information, Tanzania is slowing down on its Central Financial institution Digital forex (CBDC) adoption. Final 12 months, it joined 19 African nations exploring CBDCs however might be taking a “phased, cautious and risk-based” method. Learn more.
	Kenya to start monitoring cellular cash You’re not the one one making New Yr’s resolutions. Kenya’s authorities has set income objectives for the 12 months, and they’re fairly excessive—Ksh3 trillion ($24.1 million). To realize this, it has determined to hyperlink the Kenya Income Authority to cellular cash providers in order that it might probably guarantee everybody pays taxes, such because the 16% VAT on gross sales, and 20% excise obligation on transactions. Learn more.
	Somalia redesigns its 1000 shillings Can redesigning the forex restore the well being of an economic system? This week, the Central Financial institution of Somalia introduced that will probably be redesigning its 1,000 shilling notes to curb inflation. This information comes two months after Nigeria additionally introduced the issuance of latest banknotes for its ₦200, ₦500, and ₦1,000 notes. Learn more.
	Large tech proceed huge chops Earlier than Christmas, Amazon introduced that it will fireplace 10,000 staff. It made recent layoffs this week, affecting 8,000 extra staff. Moreover, India’s GoMechanic fired 70% of its staff this week—greater than 800 individuals, Microsoft and Google have additionally began to put off staff, chopping 10,000 and 12,000 jobs, respectively. Learn more.

The State of Tech in Africa Report

TechCabal Insights’ State of Tech report for Q3 2022 continues to be out there for obtain.

The report entails analyses of information on acquisitions, expansions, and funding in Africa’s tech ecosystem. These insights are contexualised based mostly on discussions with stakeholders within the ecosystem.

It presents easy-to-digest perception and information factors based mostly on evidence-based analysis that anybody from founders to traders will discover helpful.

The report is offered for obtain here.

	Ghana slaps MTN with $773 million high quality A hefty high quality—the type that’s normally thrown at huge tech firms like TikTok and Fb—has landed near residence. The Ghana Income Authority slammed MTN Ghana with a $773 million high quality for excellent tax obligations from 2014–2018. MTN is contesting the high quality prefer it efficiently did when the Nigerian authorities performed the identical hand in 2020. Learn more.
	Vodacom sues the SA police MTN is embroiled in one other controversy in South Africa—a lawsuit involving one other telecommunications supplier, Vodacom, and the South African Police (SAPs). The SAPs awarded MTN its mobile contract, ending its 20-year cope with Vodacom. Now, Vodacom is suing SAPs to nullify the mobile contract which pays MTN R20 million ($1.2 million) per thirty days. Study extra.
	Africell will get MoMo licence in Angola Cell cash (MoMo) isn’t slowing down, it appears. Africa-focused telecom providers supplier, Africell, has acquired a licence to function its cellular cash (MoMo) service, Afrimoney, in Angola. Actually, it acquired the license in October 2022 and is already in the course of a six-month testing part. It’s scheduled to launch in April 2023. Learn more.
	Fincra obtains PSSP licence Six months after issuing fintech startup Fincra an approval-in-principle, Nigeria’s central financial institution has awarded the fintech a PSSP license, enabling it to function as a cost options service supplier inside the nation. Learn more.
	Djibouti’s billion-dollar spaceport Africa might be getting its first orbital spaceport, as Djibouti has signed a cope with Hong Kong Aerospace Know-how to construct one. Thus far, fourteen African nations have launched 52 satellites into house. The worth of the continent’s house and satellite tv for pc business will proceed to develop because it acquires more room infrastructure. Learn more.
	Starlink is coming to extra African nations Final 12 months, Starlink acquired approval to launch in Nigeria and Mozambique. This week, the web service supplier additionally introduced plans to arrange in Kenya and 20 extra African nations, which curiously doesn’t embrace CEO Elon Musk’s delivery nation, South Africa Learn more.
	Apple’s new Macbooks Apple has launched new MacBook Professionals they usually have the longest battery life ever in a Mac—as much as 22 hours. They’re additionally extra environment friendly than their predecessors and have up to date customized applied sciences that considerably prolong their capabilities. That is all due to the brand new Apple chips— the M2 Professional and M2 Max. Read more.