This Week in African Tech 🌍

The next round is on Jumia 🥃

Caleb Maru
August 18, 2024

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Hey guys!

Caleb here.

Some exciting news - our friends at Sling Money have raised $15 million to scale global payments with crypto.

I’ve tested the product to send money, and it’s honestly the coolest and easiest payment experience I’ve ever had.

As an African diaspora, I send money across the globe all the time - usually spending a ridiculous amount of money (and time).

I’ve been given the thumbs up to let our Tech Safari community beta test the product and give feedback in Sling’s community.

I’d strongly recommend if:

Alright, into the roundup!

Mobius Motors, a Kenyan car maker on the brink of closure, has found a buyer one week after announcing its shutdown. The buyer wasn’t made public, but the deal could save Mobius and help it continue making affordable SUVs for the African market.
Pernod Ricard, the maker of Jameson whiskey, has upped its stake in Jumia, from 6.4% to 7.5%. Jumia's has been on a cost-cutting campaign and this move signals more confidence in their performance.
Bolt introduced a new speech-to-text feature in its driver app, allowing its South African drivers to dictate messages which are translated into the rider's language. The company hopes it will improve communication between drivers and riders.

Schoolap, a DRC-based ed-tech platform, expanded into Kenya. The company wants to bring its digital learning and school management platform to Anglophone Africa, building on its success in Francophone countries.
As part of a global restructuring, TikTok has laid off employees across its African division. It’s another round of cuts after a similar move in March. And it might not end there, because more layoffs may happen in the third quarter of 2024.
Uber's Q2 performance in Africa, shows a 19% increase in its gross bookings across the continent. It also launched a new teenage account feature in South Africa and increased driver earnings in Nigeria. It’s now focused on electric vehicle investments to grow its regional presence.

Vesti, a Migration-as-a-Service startup, has expanded into India, Pakistan, and Bangladesh. This is part of its plan to empower millions of migrants globally with the financial services they need to migrate. The startup is also raising a Series A round to expand into more markets.

Dubai’s Rowad Capital Commercial has committed to investing $225 million for a 60% stake in UTel, Uganda’s state-owned telco. This deal could revamp UTel and establish it as a key competitor in Uganda's telecom sector.
The African Development Bank Group (AfDB) will invest $10 million in KawiSafi Fund II, a VC fund backing African startups focused on climate solutions like renewable energy and clean mobility. The AfDB previously invested in Seedstars Africa Ventures I, so this move shows it’s doubling down on African tech.

Akinwunmi Adesina, AfDB President.

Tunisian energy management startup Wattnow raised funding from Lateral Frontiers VC. The investment from Lateral Frontiers Fund II will be used to develop its platform, which helps businesses optimise energy consumption.
Open Access Energy, a South African energy management startup, raised $750,000 from Factor E Ventures. The funds will be used to expand its software platform and improve renewable energy distribution and management in South Africa.
Kredete, a payments and lending startup for African immigrants, has raised an undisclosed amount from Launch Africa Ventures. Kredete will use the funds to build AI-powered solutions to improve access to credit for African immigrants in North America.

L-R: Hakeem Oriola, Chief Technical Officer, Kredete; Adeola Adedewe, Founder and CEO, Kredete; and Ebuka Arinze, Head of Product, Kredete.

Join us for our next Tech Safari Mixer with Latitude59 in Nairobi on Thursday, the 29th of August. It’s the pre-launch party for the second edition of Latitude59 Kenya that’s happening later this year. Spots are limited and early bird tickets are already selling out. Get yours here.

Tech Safari is hiring. We’re looking for a world-class copywriter to join our team. If you’re an experienced tech writer and can create high-value social content, apply here.
Smile ID, Africa's leading ID verification startup, is hosting an exclusive networking event for executives in Banking, Financial Services, and Fintech on September 5th, 2024, in Nairobi, Kenya. Save yourself a spot here.
Huawei South Africa is inviting tech-savvy female entrepreneurs to participate in the 2024 edition of its Women in Tech digital skills training programme. The free digital skills initiative offers an introduction to cloud computing, 5G, artificial intelligence
(AI) and leadership development. Apply here.
The Africa Fintech Summit has opened nominations for the 2024 Excellence in Fintech Awards. The leading fintech event, taking place in Nairobi from the 4th to the 6th of September, invites the public to nominate outstanding startups and industry leaders here.
StartupSouth's annual tech conference returns to Port Harcourt on the 3rd and 4th of October. The conference brings together thousands of attendees to discuss industry trends and foster innovation in Nigeria's South-South and South-East regions.
DFS Lab has partnered with Stellar Development Foundation to host a blockchain builders meetup for developers, engineers, founders, and data scientists. The event will happen in Nairobi on the 7th of September. Save yourself a spot here.

And that's a wrap for this week!

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