Editor’s Note
- Week 04, 2023
- Read time: 5 minutes
Greetings, expensive readers, and welcome to a different version of TC Weekender. We are thrilled to current to you essentially the most vital information from throughout the African continent. This week, South Africa, Kenya, and Nigeria are significantly noteworthy.
South Africa has lately welcomed the arrival of a brand new knowledge middle, 2Africa’s submarine cable, and has established guidelines for the promoting of cryptocurrency. Nigeria has made historical past by launching the first domestic card on the continent. Kenya, then again, has been inflicting disappointment to digital lenders and its residents by delaying the digital lenders licensing course of and reversing earlier rulings on cellular cash.
Read on to remain knowledgeable about these and different thrilling developments.
Pamela Tetteh Editor, TechCabal.
Editor’s Picks
Nigeria launches a domestic cardNigeria has determined to faucet into its pulsating $18 billion funds and card market with its new domestic card, Afrigo. AfriGo works similar to Mastercard, Verve, or Visa playing cards, however in contrast to these, it won’t cost customers in international forex however in naira. This card is the first of its variety in Africa. Learn extra. | |
Kenyan excessive courtroom okays cellular switch pricesThe Kenyan High Court has dominated for banks within the nation to renew prices on transfers between financial institution accounts and cellular cash operators. This ruling comes lower than two weeks after the identical courtroom ordered the suspension of such prices ending the two-year run of free transfers. Learn extra. | |
Kenya drafts new regulatory sandboxThe Communications Authority of Kenya has printed a draft of the “Framework for Emerging Technologies Regulatory Sandbox” and is looking for the general public’s suggestions by February 3, 2023. The sandbox is a managed atmosphere by which innovators can conduct dwell assessments of latest merchandise that the present rules don’t adequately cater to. Learn extra. | |
SA will get one other knowledge centreCape Town has gotten one more knowledge centre—a 20MW IT load facility that’s anticipated to be up and working by mid-2024. The nation is changing into the information hub of the continent regardless of the electrical energy troubles it has been experiencing. Learn extra. | |
Swvl tries to undo Volt acquisitionLow on money and excessive on losses, the Cairo-born Nasdaq-listed bus operator Swvl desires to undo its 2022 acquisition of Turkish transportation-as-a-service operator Volt Lines. for $40 million because it searches for a technique to survive and change into worthwhile this yr. ADVERTISEMENT Learn extra. | |
Swvl escapes Nasdaq delistingIn different information, Swvl has narrowly escaped Nasdaq delisting by means of a reverse inventory break up that granted every shareholder 25 shares for every share held. The firm has regained compliance with Nasdaq, nevertheless it has to maintain the value from falling under $0.37 for 10 consecutive days between now and July 10, 2023. Learn extra. |
The State of Tech in Africa Report
Our State of Tech report for This fall 2022 can be obtainable for obtain quickly. Till then, obtain the Q3 report in case you nonetheless haven’t.
Delayed CBK licence threatens digital lendersSince it authorized 10 digital lenders final yr, the Central Bank of Kenya has not issued contemporary licensing to any of the opposite 278 lenders which were ready in line. Now Google is refusing to host their cellular apps, and buyers are hesitating to present them cash because of their lack of licence. The digital lenders are shedding clients and funding for loans. Learn extra. | |
New guidelines for crypto adverts in SALast yr, South Africa categorized crypto belongings as monetary merchandise. Now, the nation’s Advertising Regulatory Board (ARB) has up to date its Code of Advertising Practice with a clause particularly focusing on the commercial of crypto belongings. Learn extra. | |
Cape Town to pay residents for energyIn response to the nation’s power disaster, Cape Town can be paying residents and companies money for feeding extra electrical energy from their very own mills into its energy system. Before now, energy sellers had their municipal payments credited for extra energy as a substitute of precise money funds. Learn extra. | |
2Africa’s submarine cable lands in South Africa2Africa’s submarine cable has landed in South Africa, from the place it would journey to different touchdown factors in Africa to energy superior web infrastructure. It landed in a Vodacom facility in Gqeberha and is scheduled to start full operations in 2024. Learn extra. | |
Naspers plans to layoff 30% of workforceNearly 3 months after asserting its shaky 2022H1 monetary outcomes, Africa’s Most worthy public firm, Naspers, and it subsidiary, Prosus, are planning a 30% workforce discount over the course of the yr.
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