Read this email in French.
Editor’s Note
Week 22, 2023
Read time: 5 minutes
In South Africa and Nigeria, it seems like the pockets of citizens and the government are getting quite the heatwave thanks to skyrocketing fuel prices. Catch up on the scorching news and more from all across Africa.
Pamela Tetteh Editor, TechCabal.
Editor’s Picks
SA approves $86 million for e-policing
The Gauteng province in South Africa has given the green light to R1.7 billion ($86 million) for e-policing. This eye-popping sum will be used to acquire crime-fighting gadgets, including drones.
Nigeria ends fuel subsidies
Nigeria has ended fuel subsidies. This move has sent transportation prices soaring to new heights. Now, it’s fueling quite a debate about the future of work in the country. Will folks have to pedal their way to the office?
Eskom suffers from fuel inflation
Fuel is also burning holes in government pockets in other African countries.The expenses of South Africa’s state-owned power utility, Eskom, have more than doubled due to the cost of fuel.
CBN denies naira devaluation
The Central Bank of Nigeria (CBN) dismissed claims that it devalued the naira to ₦630 per $1 from the ₦461 it previously was.
Zero tax for EV manufacturers
During the West Africa Automotive Show, Nigeria declared a jaw-dropping 10-year tax “brake” for all electric vehicle manufacturers. Talk about revving up the green revolution!
Multichoice dabbles in payments
As DStv grapples with its TV troubles, Multichoice dives into the payment game. It has launched a brand-new payment platform in partnership with Rapyd and General Catalyst.
Kenya discontinues Humda
After spending millions of dollars, Kenya has paused the roll out of digital ID Huduma Namba. However, the new government is trying out other digital IDs.
WellaHealth
In a rapidly changing job market, the key to retaining top talent lies in prioritizing employee welfare. But how does health insurance impact job retention, especially in volatile macroeconomic conditions?
Learn the best practices to foster a healthier, happier, and more loyal workforce by getting this report now.
Second stage of Hustler’s fund
Kenyan president, William Ruto, has kicked off the sequel of the Hustlers Fund. This time around, the government will extend the support to Chamas and SACCOs
500,000 customers affected by data breach
South African retail giant JD Group has announced that it suffered a data breach that exposed the personal information of over half a million of its customers.
NearPay wins award at GITEX
Nigerian fintech start-up Nearpays won the coveted Fintech and Blockchain Technology at the inaugural Gitex Africa tech conference in Marrakech, Morocco.
Who brought the money this week?
Morrocan PrestaFreedom, a home services marketplace, raised $1.1 million in an undisclosed funding round from Azur International Fund.
Zofi, an Uganda-based fintech company, raised $1 million in pre-seed funding from Advancly, a Nigerian-based investor Advancly.
Moroccan health tech company DataPathology received $1 million in an undisclosed funding round from Azur Innovation Fund.
Zydii, a Kenya-based digital training company, raised an undisclosed amount in a pre-seed funding round from DOB Equity, Kua Ventures, Kaleo Ventures, and NaiBAN.
What else to read this weekend?
Two years post-acquisition, Paystack is expanding products and gunning for roots in African markets
How Zambia is prepping to become Africa’s next major tech hub
How will a unified FX rate affect virtual card operations in Nigeria?
This platform wants to help SA creatives easily monetise their content. Here is how it works
Tech builders in Nollywood are trying to solve the industry’s production and distribution problems
Intron Health is bringing AI superpowers to hospitals in Africa
Written by: Ngozi Chukwu
Edited by: Pamela Tetteh