A last-minute increase of FG’s borrowing threshold raises concerns over rising debt
Nigeria’s senate has raised the Ways and Means provision from 5% to 15% prompting important questions about rising debt and inflation. Two days before the start of Bola Tinubu’s Presidency, members of the Nigerian senate held an emergency meeting to amend the Central Bank of Nigeria (CBN) Act. Presided over by the Senate President Ahmad […]
Read MoreTaxing creativity: Kenyan content creators pushback against proposed taxes
Kenyans are opposed to the proposed Finance Bill 2023, which aims to take more money from their already thin pockets. The proposal also wants to receive revenues from content creators and could kill the launch of an intended $40 smartphone. Kenya’s Finance Bill 2023 proposal has received negative coverage over the last couple of days […]
Read MoreAs new fuel prices hit N488 per litre in Lagos, Logistics startups will increase prices by 50%
“Fuel subsidies are gone!” With those words, an otherwise unexciting first speech by President Bola Tinubu soon became a trending topic. While the removal of fuel subsidies was written into law through the Petroleum Industry Act, it was due to happen in June. Bola Tinubu’s announcement may only have pushed the timeline up a couple […]
Read MoreSA turns to tech to combat crime, as murder rate reaches 60,000 in 90 days
South Africa’s law enforcement agencies are integrating technology, including drones, to combat crime in the country. According to the latest statistics from the South African Police Service (SAPS), more than 6,200 people were murdered between January and March 2023—an average of about 70 murders a day. In the same time period, 10,500 cases of rape […]
Read MoreMeet the Zambia startup using space technology to improve farm yields
Ignitos Space is a Zambia startups which uses space technology to bring more efficiency to the country’s agriculture sector. According to data by the World Bank, agriculture and agribusiness have contributed around 20% of Zambia’s gross domestic product (GDP) and about 12% of national export earnings in recent years. Zambia boasts a population of over […]
Read More👨🏿🚀TechCabal Daily – Nvidia joins the trillion-dollar club
Lire en français Read this email in French. 31 MAY, 2023 IN PARTNERSHIP WITH Good morning We’re out on the streets of Marrakech today. From now till June 2, you can throw hands with catch our CEO Tomiwa Aladekomo and editor-in-chief Adrian Ephraim at the GITEX Africa conference in Morocco. If you stop by and […]
Read MoreWhile Eyowo works to get its licence back, customers are using creative ways to move money out of the app
Nearly a week after the CBN revoked Eyowo’s Microfinance bank license, its users are still unable to access the funds in the digital bank. As a result, some users have resorted to buying airtime and cable subscriptions on the platform with the intention of reselling them in order to retrieve their money. A day after […]
Read MoreUber Go is gaining traction in Lagos, but riders want more
Uber’s cheaper ride-hailing option, Uber Go appears to be providing relief to Lagos residents. But riders say it can’t displace the market leaders because of some shortcomings. If you live in Lagos and you don’t own a car like me, chances are your biggest challenge is commuting. With about 24 million people scrambling to navigate […]
Read MoreMeta targets comms teams in layoffs
Meta’s director of communications in sub-Saharan Africa has reportedly been laid off. In the coming weeks, the corporation will reportedly target additional comms teams in Nigeria, Kenya, and South Africa. Meta’s latest round of layoffs was done last week after multiple former workers posted on LinkedIn that they had been let go. The firings were […]
Read MoreLoad shedding slowing down SA’s economic growth, according to reserve bank
According to the South African Reserve Bank’s (SARB) Financial Stability Review, load shedding is expected to detract two percentage points from the country’s overall economic growth this year. Furthermore, SARB also states that load-shedding may add 0.5 percentage points to headline inflation in 2023. This is because the high operating costs of running diesel generators […]
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