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Cova, a Nigerian startup offering asset management services, announced its closure in an email to users on Tuesday, January 23. The firm, citing "several factors," will cease operations on February 10, 2024. Cova assured users they would be fully refunded by February 13 at the latest.
Altschool Africa, a Nigerian edtech based in Kigali, Rwanda, is extending its services to Kenya, Techcabal reported last Wednesday. The country is the startup's second-largest market in terms of revenue, after Nigeria and ahead of the UK. "We're not new to the people, but this will give us the opportunity to expand," said Altschool Africa founder Adewale Yusuf.
Ugandan e-mobility startup Safeboda is set to return to the Kenyan market in February 2024, two years after suspending operations there. The announcement was made on Monday, January 22, through a post on the X social network. Details regarding the company's Kenyan relaunch remain scarce, with the post only confirming the February timeframe and Nairobi as the initial operating city.
Global payments giant Visa announced a strategic partnership with Kenyan fintech company Pesaflow to transform and enhance digital payments within the Kenyan government. The collaboration aims to establish seamless and user-friendly digital payment platforms, incorporating virtual cards and secure gateway services for transparent and reliable transactions.
In Senegal, road fines can now be paid online, thanks to a recent initiative by the General Directorate of Public Accounting and Treasury (DGCPT). Launched on January 18, the digital platform simplifies the fine collection process, enabling drivers to pay their fines quickly and on the spot, without having to visit police or gendarmerie stations.
In a move to widen cryptocurrency accessibility in Africa, leading platforms Coinbase and Yellow Card have announced a strategic partnership. This collaboration aims to simplify access to USDC, a stablecoin pegged to the US dollar, and other digital assets across the continent.
Through the partnership, Coinbase has integrated the Yellow Card Widget within its Wallet app. This integration grants Coinbase Wallet users seamless access to Yellow Card's extensive network of payment methods for buying and selling digital assets. The network reportedly spans 20 African countries, significantly facilitating crypto transactions in the region.
The Africa Stablecoin Consortium (ASC), a coalition of Nigerian banks and fintechs, announced it has postponed the launch of its cNGN stablecoin, originally slated for February 27.
"...We are engaging with the appropriate regulatory bodies, including the Central Bank of Nigeria, to participate in its regulatory sandbox program. Our goal is to showcase the potential benefits of the cNGN ecosystem, providing a secure, transparent, interoperable, and innovative solution for digital asset transactions in Nigeria," the ASC said in a statement.
The Meltwater Entrepreneurial School of Technology (MEST) has launched applications for its 12-month training program aimed at helping aspiring tech entrepreneurs in Africa turn their ideas into successful startups. The deadline for applications is March 18, 2024. More details about the program and the application process can be found here.
Kenyan e-commerce platform Badili announced on Wednesday, January 10, the successful completion of a financing round for an undisclosed amount. The deal was spearheaded by venture capital firm E3 Capital. The funds will be utilized to expand into new markets in East Africa.
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Yousef Alhusaini, co-founder of the Kuwaiti educational platform Baims, recently announced the acquisition of Egyptian edtech company Orcas Tutoring. The financial details of the transaction were not disclosed. This acquisition allows Baims to extend its reach into Egypt and the United Arab Emirates, and to expand its services. The platform will now offer recorded content, live sessions, and personalized one-on-one tutoring for students ranging from kindergarten to grade 12.
Nigerian fintech startup Cleva has secured $1.5 million in pre-seed funding, Techcrunch reported on Monday, January 8th. The funds will fuel the development of Cleva's financial technology platform and commercial offering, as well as support the company's initial operations. Cleva also announced it secured a spot in the Winter 2024 cohort of Californian accelerator Y Combinator.
Education technology (edtech) startup iSchool from Egypt has closed a $4.5 million funding round, fueling its plans to expand across the Middle East and North Africa (MENA) region. The investment will support the development of its technology platform and drive growth in six key markets.
Côte d’Ivoire’s telecom regulator ARTCI issued a statement on Thursday urging caution to safeguard telecommunications infrastructure during the upcoming Africa Cup of Nations (AFCON) football tournament.
The tournament, running from January 13 to February 11, is expected to attract large crowds and high demand for network services. In that context, ARTCI is calling on the public to avoid damaging crucial equipment, including optical fiber cables, transmission towers, and batteries.