Hello Guys!
It’s #TGIF, the perfect time to go through the Tech News that made the headlines in Africa this week.
OBus Takes a Break in Lagos, Nigeria
OPay has paused the services of its on-demand bus e-hailing subsidiary in Lagos, Nigeria. This happened as a result of the constant demands of government workers on bus stations lining their daily routes. OBus is currently re-strategizing and in talks with transporting authorities to re-launch a better business model. Learn More
Visa Acquires a Large Chunk of Interswitch
Visa acquired $200 million stakes in Interswitch ahead of its dual public listing on the Nigerian and London Stock Exchanges. The investment values Interswitch at $1 billion, making it joint the list of digital Unicorns. Learn More
OLX Invested $400 million in Frontier Car Group
Still, on acquisitions, OLX Group has invested the sum of $400 million in Frontier Car Group, the parent company of Cars45. The funds will be used to scale its on-demand car sales business venture in Africa. Learn More
AppsAfrica Presents 2019 Innovation Awards to Flutterwave, Carbon, 54gene and Others
At this year’s AppsAfrica Innovation Awards ceremony, Flutterwave, Carbon and 54gene were among the startups recognized. These were part of the 14 startups which were honoured for their mobile and tech products and services. See the full list here
PalmPay Raised $40 million from Tecno to Establish Operations in Nigeria
Palmpay, an Africa-focused fintech company raised $40 million to operate in Nigeria and scale business in Ghana. The investment was led by Tecno, subsidiary of Transsion and one of the popular phone makers in the continent. Learn More
Bolt Contributes €10 million towards Global Renewable Energy Initiatives
Bolt, a popular e-hailing taxi company has set aside €10 million to support global renewable energy projects. One of such projects is M-KOPA, a company that helps families in East Africa switch from using kerosene to affordable clean energy alternatives. Learn More
Defaulting the Data Protection Law in Kenya Attracts over $29000
The government of Kenya has recently passed a data protection law. The bill promotes investment in the ICT sector and safeguards it from information breaches. Anyone who defaults it will be fined $29283 or a two-year jail term. Learn More
Flutterwave & Helium Health Lists on 2019 CNBC 100 Most Promising Startups
CNBC has listed Flutterwave and Helium Health from Africa on its list of the 100 Most Promising Startups of 2019. The US-based media powerhouse recognizes the startups that have the potential to transform the digital economy. Learn More
Opera has Made Browsing 4X Faster in Nigeria
Opera has achieved network speed with the installation of new servers in Nigeria. The servers will enhance the browsing experience for subscribers using the Opera Mini Browser and Opera News. Learn More
MTN Tested 5G C-Band at AfricaCom Conference 2019
At the just-concluded AfricaCom conference, MTN ran the first trial of its 5G technology dubbed Golden Band in South Africa. This was achieved in conjunction with Huawei. Both companies will work together to establish a 5G spectrum that will facilitate the deployment of modern technologies in the country. Learn More
Thanks for reading through Africa tech news roundup, see you next week!
Sincerely,
Team TechGist Africa
