This Week: Wave Raises €90 Million

Editor’s Notes

Week 27, 2022
Study time: 5 minutes

Nigeria launched the eNaira final year; Ghana’s eCedi correct entered pilot segment this week. There’s no jollof comic story to be made right here—correct giving you the news. 👍🏿

Revel in the prolonged weekend,

Kelechi Njoku, Senior Editor, TechCabal.

Editor’s Picks

	Flutterwave accused of cash laundering in Kenya After going by allegations of insider trading and abuse, fintech unicorn Flutterwave is now being accused of laundering about $52.9 million in Kenya. Flutterwave has stated the claims are unsuitable. Study the story on TechCabal
	Wave secures €90 million Waving hi there to debt financing, Senegalese fintech Wave secured a €90 million syndicated mortgage from the World Finance Company (IFC). The World Bank is the 2nd time the World Bank is stretching its investment arm in direction of Wave. Study extra on TechCabal
	Equiano cable lands in Namibia The Namibian city of Swakopmund has got Google’s Equiano cable, a subsea web cable which experts tell will toughen Namibia’s recordsdata transmission, web tempo by 2.5 times and penetration by 7.5 times, and fabricate about 21,000 indirect jobs in 3 years. Study the beefy particulars on TechCabal
	Ghana prepares to test the eCedi Ghana has outrun Nigeria in the “financial inclusion by digital currency” lumber. Ghana’s digital currency—eCedi—is now in the pilot segment. The offline version of the eCedi is present process attempting out in rural areas. Study it on TechCabal
	Autochek acquires CoinAfrique Is Autochek on Auto-cheque? It seems esteem the Nigerian-born startup can’t ruin writing cheques. After shopping for the North African automobile startup KIFAL, Autochek has now obtained CoinAfrique. The acquisition will tempo up the penetration of its auto financing services in the francophone space. More particulars are on TechCabal
	Dash opens Africa head office in Kenya Kenya is rapid changing into a dwelling of firsts as various world corporations are constructing their first African regional locations of work on its soil. Google, Microsoft, and now Estonia-born whisk-hailing startup Dash has opened its regional office in the country’s capital—Nairobi. Study extra about it on TechCabal
	MTN and ETAP accomplice to reward factual riding MTN wishes you to be reliable in every single quandary you high-tail. It has partnered with Nigerian insurtech Etap to incentivise factual riding by rewarding drivers who withhold factual riding habits in Nigeria. Uncover extra on TechCabal

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	Union54 is giving Zambians cards Zambia is almost a cardless financial system—most attention-grabbing about 10% of its adults reveal a debit card. Their low card game excludes them from the web financial system. Zambia’s first YC-backed startup, Union54, is offering virtual debit and credit cards to flip issues around. Study the story on TechCabal
	Gokada will get a unusual CEO Taking on from worn CEO Nikhil Goel, Nigerian logistics firm Gokada has appointed a unusual CEO. His determine is Olutosin Onito, and he changed into beforehand managing critical at Project firm EchoVC. Elephantine particulars are on TechCabal
	Vodacom pulls the disappear on video streaming carrier Per chance 7 isn’t such a lucky number. After nearly 7 years and 1 million downloads, South African cell communications firm Vodacom is pulling the disappear on its on-interrogate video streaming carrier, Video Play. Study extra on TechCabal
	Torche Africa’s biometrics rate resolution COVID-19 vaccines are on wheels in Kenya. The country’s ministry of health is participating with Amref Successfully being Africa and AstraZeneca to ship photo voltaic-powered cell clinics to vaccinate of us in interesting-to-attain areas in the East African country. Uncover about it on TechCabal
	Kenya caps taxi commissions at 18% This week the Kenyan government passed a coverage that ensures that digital taxi operators esteem Dash, Uber, Tiny, and others can no longer interrogate a commission of over 18% of the earnings of taxi drivers who reveal their vehicles to work. Uncover about it on Worldwide locations Africa
	Sudan surpasses 10% covid-19 milestone This week, Sudan launched that it had vaccinated over 10% of its inhabitants towards the Covid-19 virus. Here’s a broad opt towards vaccine disagreement, especially in Africa where a median of 4% of the inhabitants is vaccinated. Uncover extra on Auto Myth Africa

Who brought the money this week?

Kenyan startup B2B startup, Duhqa closed a $2 million seed spherical with participation from CrossFund, Roselake Ventures, and Mo Angels, and likewise featured plenty of reward investors, including Techstars and strategic angels.
Tunisian fintech Paymee raised an undisclosed six-figure quantity in a funding spherical led by P1 Ventures.