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Welcome to Tech Safari!
Your tour guide on African Tech 🧭
Hello to the 86 new folks who have joined the Safari since the last edition.
If you haven't subscribed, join 15,041 smart folks curious about Tech in Africa.
Happy Sunday!
Last weekend our website was down 😅 so we put This Week in African Tech on pause. Here is this (and last week) in African Tech.
On Friday we also hit a new milestone: 15,000 Tech Safari readers 💪🏾
It’s a big one for us and we’re going to celebrate with a big reveal next week - stay tuned!
In the meantime, Tech Safari is now on social media! You can catch what’s happening in African Tech on your platform of choice:
Alright, into this week’s edition
Tech Roundup
Uber launches electric motorbike fleet in Kenya, its first in Africa. Uber wants to make its platform emissions-free by 2040.
Ugandan fintech Asaak, which provides motorcycle loans and smartphone loans, has acquired Mexico’s Flex Club to expand beyond Africa. This makes Asaak the first East African fintech in Latin America.
VISA introduces contactless payment in Kenya, joining forces with local banks and fintechs. This lets customers use their banking app on smartphones or wearables to pay easily.
Gabon's military brings back internet access after overthrowing President Ali Bongo’s government. The country’s internet got cut in the middle of its presidential and parliamentary elections last week.
Tanzanian fintech, NALA, launches payments from the UK and the EU to Nigeria. Customers in these regions can now transfer money from their cards, bank accounts, or Google/Apple Pay to Nigerian bank accounts.
Flutterwave's co-founder and CEO, Olugbenga Agboola, is keeping the IPO dream alive. In a recent interview with Bloomberg, he confirmed that they’re still going public, despite a volatile market. Flutterwave is currently Africa’s most valuable startup, with a valuation of $3 billion.
Somalia bans TikTok, messaging app Telegram, and online betting site 1XBet to counter misinformation. The aim is to curb inappropriate content and propaganda linked to terrorist groups.
Ciku Mugambi takes the lead as CEO at Nigeria’s logistics startup Kobo 360. This follows the departure of co-founder Obi Ozor, who will now serve as the transportation commissioner in Enugu State.
Cellulant is laying off 20% of its workforce in a company restructuring. This move aligns with Cellulant's aim to shift towards a more product-focused approach. The Kenyan payments company operates in 19 African markets, including Nigeria, Ghana, and Zambia.
Gabon's military brings back internet access after overthrowing President Ali Bongo’s government. The country’s internet got cut in the middle of its presidential and parliamentary elections last week.
Twiga is cutting 283 jobs, about 33% of its staff, to adapt to challenging economic conditions and maintain a lean operation. This comes two months after the Kenyan B2B startup fired 130 sales agents.
Deal Roundup
Airtel Uganda raises $216 million by selling 20% equity in an IPO. The raise will fund Airtel’s expansion plans. It is currently the third largest Telecom in Africa, providing |telecommunication and mobile money services to 14 African countries.
16 African startups will compete for a $100k equity prize at the TechCrunch Disrupt conference. The chosen startups are from Nigeria (7), South Africa (3), Kenya (2), Uganda (2) Tanzania (1), and Ghana (1).
Tunisia’s Contech startup, SeekMake, raises $539K from European Private Equity firm Lafayette Group. Launched in 2018, SeekMake connects clients with construction and manufacturing companies in 40 countries.
Black Ostrich Ventures has launched a $20 million fund for startups outside Africa’s “Big Four”: Nigeria, South Africa, Kenya, and Egypt. Based in LA, they’re especially keen on Uganda, Tanzania, Zambia, and Morocco.
South Africa’s insuretech LeaseSurance has raised $161,000 to make renting homes better. They use tech to replace security deposits with insurance and help landlords make smarter choices about their properties.
Drive Electric, a philanthropic campaign to end pollution, will give $1.05 million to seven electric mobility projects in Africa and Latin America. They intend to boost electric transport in these areas through their LEAP Fund (Leapfrogging to E-mobility Acceleration Partnership).
Nigeria's Moniepoint is all set to buy out Kopo Kopo, a Kenyan startup that offers mobile money payments and credit for merchants. This move is part of Moniepoint's plan to spread its payment business beyond Nigeria. They are yet to disclose the deal's value but stay tuned.
Kenyan fintech Zanifu has raised $11.2 million pre-series A to provide inventory financing to small merchants. They intend to add services like insurance and tools for inventory and bookkeeping.
Nigeria’s LemFi has raised $33 million in Series A to simplify global remittance for immigrants. The funding was led by Left Lane Capital and included investors like Y-Combinator, Zrosk, Global Founders Capital, and Olive Tree.
Events + Opportunities
The first-ever Africa Climate Summit is coming to Nairobi this week. The Summit will shape ideas around climate change and encourage sustainable commitments and will wind up in the Nairobi declaration.
And speaking of climate change, shout out to Green Rising. They’re a news platform bringing you deep insights and analysis on Africa’s green economy. If you’re keen on Africa’s climate issues, sign up for their newsletter here.
Endeavor Egypt and GIZ Egypt have teamed up for XceleRise, a program supporting sustainable startups through capital access and market expansion. Apply here
Curious about Edtech in Africa? The 17th eLearning Africa event will take place in Kigali, Rwanda, on 29-31 May 2024. The theme is "Education for Africa's Future" and the conversations are going to be fire.
Kigali, Rwanda
The Geneva Centre for Security Policy (GCSP) is now accepting applications for the 2023 Prize for Innovation in Global Security, celebrating innovative efforts in addressing global security challenges.
Hey founders! MEST Africa has launched applications for the 5th MEST Africa Challenge, and there’s $50,000 equity funding up for grabs. MEST Africa is a Ghanaian startup training program, fund, and incubator. Apply here before October 9th.
The 8th Nigeria Innovation Summit will be held at Lagos' Muson Centre on October 6th. It’s set to bring together government agencies, businesses, international organizations, innovators, and researchers to network and partner. Register here
Google has launched an AI-first accelerator for African startups, lasting 10 weeks. It's aimed at early-stage companies up to Series A working on AI and machine learning solutions for local problems. Apply here before 6th September 2023
Are you a blockchain Enthusiast? The second edition of the Web 3 Lagos conference is coming up from August 31st to 2nd September. The 3-day event will feature hackathons, workshops, networking, panels, and more.
Hey founders! Is your startup ready to scale? Systemic Innovation and GrowthAfrica are teaming up with global experts ScaleUpNation to offer a free assessment tool. Get insights into your organizational health and scale-readiness. It’s limited to the first 60 eligible ventures from Kenya, Ethiopia, and Rwanda. Apply now!
Building a construction-tech startup in Africa? Flat 6 Labs is looking for you. The Cairo-based VC firm has introduced the "Makers" ConTech Accelerator Program, a 12-week initiative offering up to $100,000 in funding. You’ll also access pilot projects, mentorship, and networking opportunities.
Calling all rural and agri-tech startups in Africa. Apply for the Emerald Financing facility, designed for early-stage startups extending credit to rural SMEs. Apply here by December 31, 2023.
Want to know the cool tech products on the continent? Vizible Africa has built an African-focused product discovery platform listing over 300 products built by Africans.
And that's a wrap for this week!
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Catch you soon!
👋🏾 Caleb’sr