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Tech Safari Events This Month

Hey 👋🏽, Caleb here!

Before we dive in, we’ve got some Tech Safari Events coming up! 🥳 

Now… Let’s get into this week’s edition.

Tech Roundup

• LendsQR, a Nigerian fintech, is moving into Kenya. The startup has launched its loan processing platform in the country, with plans to make credit decisions faster and easier for Kenyan banks and lenders.

• Zimbabwe has a new rule for fighting misinformation - WhatsApp group admins will now need a license from the Postal and Telecommunications Regulation Authority (POTRAZ) to operate. The starting cost of a license is $50, and it can go as high as $2,500 depending on the type of group.

• Jumia’s Q3 report didn’t bring good news for their wallet. Revenue’s down by 14% thanks to currency depreciation, but here’s the twist: customer engagement actually went up. Orders were up 6% and JumiaPay did 2 million transactions in Q3. Rough patch for the cash flow, but the loyalty’s holding.

• NetOne has just rolled out a healthcare plan - called OneHealth - that’ll only cost you $1 a month. It’s a fresh take on affordable healthcare in a country where only 7% are insured. The plan includes one doctor visit a month, $30 worth of meds, and a three-month waiting period.

• After hitting 200,000 users in Kenya, Chumz - a habit-focused savings app - is expanding to Rwanda. The app lets users save as little as $0.05 at a time while tying it to their spending habits.

• MoniePoint made another unicorn move this week, hiring a new CFO from one of Nigeria’s biggest traditional banks - Stanbic IBTC. The new CFO, Bayo Olujobi, will help Moniepoint navigate the financial and regulatory sides of its expansion plan.

• Kenya has blocked its citizens from using Telegram to keep students from cheating during the national exams. Last year, questions from the national exams had leaked on the app, causing the government to issue a similar blockade.

• South Africa’s EV scene just got a new spark. eKamva, its first electric minibus taxi service is set to hit the roads in early 2025 - thanks to a partnership between Gometro, Powerfleet, and Stellenbosch University’s Faculty of Engineering. The minibus has a 200km range and can fast-charge in 75 minutes.

Deal Roundup

• Beacon Power Services has scored a Series A to help power companies in Africa fully digitize their operations with data and tech. Partech led the round, and investors like Finnfund, Kaleo Ventures, Seedstars Africa Ventures, Proparco, and Gaia Impact also participated.

• Tukio, Kenya’s safari-booking app, just got some angel funding and has its eyes on expanding to Uganda and Rwanda. Bigger reach means bigger Safaris - and it has plans to own the East African adventure scene.

• Moroccan logistics startup Cathedis just bagged $676,000 to scale up and streamline their operations. The investors, BMCE Capital Investments and Beltone Venture Capital are betting on better logistics in Morocco.

• Egyptian wellness startup Wellpal has raised new angel funding and is relocating to Saudi Arabia to tap into the Gulf’s growing health and wellness trend.

• Tendo, Ghana’s retail-tech startup, just acquired Shopa, which connects suppliers with 3,000 retailers. It’s a solid move to strengthen Tendo’s supply chain and expand its footprint.

Other Events and Opportunities

• Harvard Business School’s Africa Business Conference, a community of business leaders, students and investors, is giving away $55,000 in funding in its New Venture Competition. Apply here by November 12 to get a shot a pitching your startup.

• Oxfounders Global, a community of Oxford University’s most successful founders is launching in Africa this month with pitching competitions in Lagos (11 November), Nairobi (15 November), and Cape Town (26 November).

• The Africa Digital Finance Summit (ADFS) is happening in South Africa from November 20th to 23rd, 2024. The summit will gather governments, central banks, and fintech leaders to discuss the future of finance on the continent. Sign up here to learn more.

And that's a wrap!

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