This Week in African Tech 🌍

ByteDance sunsets LetsChat

Caleb Maru
April 01, 2024

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Welcome to This Week in African Tech!

ByteDance, TikTok's parent company, has shut down LetsChat, its messaging app in Africa, to focus on more promising ventures. ByteDance removed the app from Google and Apple app stores and ceased LetsChat operations on the 23rd of March, 2024.

South African billionaire Patrice Motsepe is reportedly considering joining the bid for MultiChoice by Canal+. Motsepe could help the French media giant meet the deal's Black ownership requirements if he joins in.
Commercial Bank of Ethiopia (CBE) has recovered around 80% of the $14 million it lost due to a “systems glitch” last week. The bank says about 15,000 customers have willingly returned $10 million, but 567 people are still holding out.
Wasoko’s valuation has dropped by almost half after VNV Global slashed the value of its investment in the startup by 48%. However, VNV says it’s still positive about the e-commerce company’s future and will keep its stake in the company.

The Central Bank of Nigeria (CBN) has revoked Cellulant Nigeria’s mobile money license following the company’s decision to stop its retail mobile money operations and focus on providing payment services to businesses.
Yango Delivery has introduced Cargo Express, its latest offering designed to simplify the delivery of large and bulky items across Africa. Cargo Express is launching in major cities like Abidjan, Accra, and Lusaka and aims to become the standard for delivering bulky items across the continent.

Kenyan E-Bus startup, BasiGo, raises $3 million from CFAO Kenya and Mobility54, the corporate venture capital arm of CFAO. This funding will help BasiGo scale its assembly and delivery of electric buses in Kenya and Rwanda.

Egyptian AI-powered edtech startup, Sprints.ai, raises $3 million in a bridge fundraising round, with investments from EdVentures and CFYE, among other investors. The new funds will enhance Sprints' plans to expand into 10 new markets.
Africa-focused Janngo Capital Startup Fund (JCSF) raises $4.3 million in equity investments from ANAVA. Janngo will use the funding to invest in francophone African startups and female-founded businesses.

The Norrsken Accelerator invites applications from African early-stage founders with solid business models built on innovative technologies. The Accelerator provides US$125,000 in funding and access to an eight-week business development program. Applications are open here until the end of April.

Entrepreneurs working on agri-tech solutions for a more sustainable, efficient, and climate-resilient agricultural system in Egypt can now apply to the AgriTech4Egypt Innovation Challenge. Applications are open here until the 21st of April, 2024.
Applications are open for the Access Bank Youthrive Program for Nigerian MSMEs. With a focus on capacity development, financial empowerment, and business exchange, the program aims to impact 4 million youths over the next four years. Apply here.

The 2024 African Business Heroes Competition is now open for applications. It aims to support the next generation of African entrepreneurs who are impacting their local communities with grant funds of up to $300,000 and practical training programs. Apply here by the 19th of May, 2024.

And that's a wrap for this week!

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