TGIF 🎉
Technology in Africa has grown by leaps and bounds. While the continent has made strides in increasing overall connectivity, women are becoming stayed behind.
Women represent around half the population and despite progress in recent years, they represent a disproportionate – and growing – share of the world’s offline population, with South Asia and Sub-Saharan Africa having the largest gender gap in people
But why does this happen? What barriers prevent women from fully participating in the tech industry?
Join us on Wednesday, March 26th at 11am. (WAT) together with key players in digital inclusion and technology to explore these questions and possible solutions.
Uber reluctant to comply with Lagos state data sharing terms
While ride-hailing giant Uber is leading a $100 million investment in Nigerian fintech Moove, the company is also locked in a data privacy dispute with the government of Lagos, Nigeria.
How it started: This dispute follows a 2020 agreement between transport companies and the Lagos State government, at the time, demanded support access to users’ travel and location data for scheduling, revenue and security purposes.
Two weeks ago, the government demanded further real-time access, threatening penalties for non-compliance. Uber, however, maintained that it fulfilled its obligations under the agreement.
Now, the ride-hailing company faces possible government sanctions as it insists access to real-time journey details is vital to the safety and well-being of users in the state.
Unlike rival Bolt, which has embraced the new data-sharing requirements, sources close to Uber reveal the company is reluctant to comply, citing concerns about user privacy.
zoom out: Finding a solution that balances security with privacy is crucial. It remains to be seen if Uber and the Lagos State Government will reach an agreement that will keep Lagosians safe without compromising user data.
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Ghana is reviewing Starlink
Launching Starlink in Africa was complicated. While it has been widely accepted in Nigeria and Rwanda, satellite ISP owners have been considered criminals in countries such as Zimbabwe, Senegal, Botswana, South Africa and Ghana. Yes, Ghana!
The bone of contention for most of these countries has been Starlink’s failure to obtain regulatory clearance and approval to operate in the country.
However, a specific country may reconsider.
The news: National Communications Authority of Ghana is in discussions to grant Starlink a license to operate within the country. The decision comes after severe undersea cable cuts affected the country’s internet reception, in turn hurting the country’s businesses and stock market. Ghana change the closing hours on its stock market by one hour on Thursday and Friday last week due to the holiday.
While the Ghanaian regulatory authority he had estimated five weeks repair time for undersea cable cuts, Starlink’s approval will be a lifesaver for businesses within the country. According to Starlink’s website, the internet service provider will be available in Ghana by the third quarter of 2024.
However, Starlink has reportedly told government officials that its services will target high-end customers first upon entering the country.
zoom out: As Ghana looks to Starlink-owned Elon Musk to save its messy internet, the country is also on the lookout for other saviors. The country’s communications minister has urged new internet providers to enter Ghana while encouraging existing ones to explore partnerships with RASCOM (Regional African Satellite Communications Organization) for wider telecommunications services across Africa.
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Lemfi works with Visa to facilitate cross-border payments worldwide
Lemphi has hit some recent milestones.
In August 2023, the Nigerian fintech platform launched in the US. That same month, it secured $33 million in funding led by LeftLane Capital to facilitate remittances for immigrants. Six months later, LemFi hired former Opay COO Allen Qu to lead its China expansion.
The international payment company has worked with Visa’s Cross-Border Solutions division to expand its reach and simplify cross-border money transfers for its users.
According to the agreement, LemFi will gain access to new markets such as China, India and Pakistan, and Visa’s Cross-Border Solutions will become LemFi’s primary partner for processing these international transactions. In addition, more than 250,000 LemFi users in the UK and the wider Europe, Middle East and Africa (EMEA) region will now have access to Visa debit and prepaid debit cards.
For existing customers, the partnership ensures continuity. LemFi will continue to provide online payments and foreign exchange services for its users. This means UK residents from various African nations can continue to rely on LemFi to send funds.
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Funding monitoring
Moove, the Nigerian vehicle financing platform, secured $100 million in Series B funding this week in a round led by Uber, with participation from investors including sovereign wealth funds Mubadala, The Latest Ventures, AfricInvest, Palm Drive Capital, Triatlum Advisors and Future Africa.
Here are other deals for the week:
- Nigeria fintech zone with blockchain technology lifted up $8.5 million in a seed round led by TLcom Capital and Flourish Ventures.
- South African startup BNPL, Float, lifted up $11 million from Standard Bank.
- Kenyan insurtech startup mTek secured $1.25 million from Verod-Kepple Africa Ventures and Founders Factory Africa.
- Tunisian AI startup Clusterlab lifted up $600k pre-seed from Karim Beguir and regional angel investors.
- Egyptian Healthtech Pharmacy Marts secured an undisclosed six-figure bridge round from Acasia Ventures;
Before you go, us State of Technology in Africa Q4 2023 Report it is outside. Click on it link to download it.
Follow us on Twitter, Instagramand LinkedIn for more funding announcements. You can also visit DealFlow, our real-time funding tracker.
The World Wide Web3
Source:
Currency name |
Current price |
Day |
Month |
---|---|---|---|
$65,396 |
– 3.34% |
+ 25.45% |
|
$3,487 |
– 0.05% |
+ 19.35% |
|
$0.9999 |
– 0.06% |
– 0.01% |
|
$553.35 |
– 0.30% |
+ 48.02% |
* Data as of 21:45 WAT, 21 March 2024.
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