While Nigeria’s space ambitions face a temporary setback, its achievements shouldn’t be forgotten. Launched in 2003, NigeriaSat-1, Nigeria’s first earth observation satellite supported disaster responses in Argentina, Paraguay, and West Africa before its decommissioning in 2014.

Its impact also extended to vital mapping projects in the Amazon rainforest and Vietnam’s coastlines.

Nigeria’s space programme has a history of reaching out a hand from beyond Earth’s atmosphere. However, ambitious plans to launch a Nigerian astronaut and a domestically-built satellite in 2025 have been put on hold.

Why? The Director-General of Nigeria’s National Space Research and Development Agency (NASRDA), Dr Halilu Shaba, disclosed that the agency’s ambitious plan to launch a satellite by 2025 hit a financial roadblock. 

Additionally, launching an astronaut into space is currently deemed economically unfeasible. NASRDA anticipates it may take up to five years to secure a launch slot, making immediate astronaut training impractical. Despite the delay, NASRDA maintains its 25-year plan to send a Nigerian astronaut into space and launch an indigenous satellite from Nigeria. The agency projects significant growth potential for Nigeria’s space industry, aiming for a valuation of up to $1 billion.

Zoom out: Meanwhile,NigeriaSat-2, another earth observation satellite launched in 2011, remains functional, providing high-resolution imaging for various purposes. NASRDA utilised it for estimating population and partnered with China to monitor earth tremors in Nigeria and across Africa.

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African mobile mobile money providers have experienced a surge in investment in recent times. Two years after its $100 million investment in Airtel Money, Mastercard acquired a minor stake in MTN’s mobile money arm.

In 2021, Airtel hinted at a possible public offering for its fintech arm after receiving investments from TPG—$200 million—and Mastercard—$100 million—valuing the unit at $2.65 billion.

Now, Airtel’s mobile money arm might be ready to go public. Yesterday, Bloomberg reported that Airtel Africa is exploring taking its mobile money unit public, with a potential valuation surpassing $4 billion. 

Talks of the IPO are in preliminary stages and the company may decide against going public.

Airtel Money is Airtel Africa’s fastest-growing arm. While Airtel 2023 profits plunged by almost 99%—recording $2 million in profits compared with $523 million it made in 2022—due to currency devaluation, its mobile money arm recorded a 31.8% revenue growth. 

The telecom currently offers its mobile money services in 14 African countries. In Nigeria, it competes with MTN Momo, while it is dwarfed by competition from Kenya’s mobile money giant, MPesa. Last year, it received approval to allow customers to transact up to KES 500,000 ($3,400) up from KES 300,000 ($2085) which it was previously allowed to do. 

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Telkom’s race to become Kenyans telecom choice has hit another roadblock. 

Over the years, the telecom has tried to keep pace with Safaricom—who holds the largest market share with 65 million subscribers—and Airtel with 18 million subscribers, for the largest slice of Kenya’s telecom market. However, financial troubles and a declining user count means that the dream is fast becoming out of reach. 

Between March 2022 and June 2023, Telkom lost 1.62 million subscribers due to a crackdown on irregularly registered SIM cards.

New reports show that Telkom has lost about 800,000 more subscribers due to unpaid leasing fees to American Towers Corporation (ATC). 

ATC switched off 246 Telkom towers in February after it defaulted on leasing fees. Currently Telkom owes the ATC about KES 7.1 billion ($51.7 million). Both parties entered an agreement two years before. 

ATC asked Telkom for an initial payment of KES 500 million ($3.6 million) and a monthly payment of KES 150 million ($1.09 million) to reactivate the towers. Telkom said it was unable to pay the debts due to its financial struggles. 

Telkom’s mobile subscribers count as of December 2023 had dropped to 1.3 million down from 3 million.

Before now, Telkom owned and managed its towers before it sold about 723 to the ATC in 2018. At the time, the telecom said the move would “enhance the quality and reliability of our network to benefit our customers.” It now appears the move might have served the wrong purpose. 

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Africa’s fintech leader, Interswitch, isn’t content with just being a payments powerhouse. After its surprise foray into Nigeria’s telecom sector via a Mobile Virtual Network Operators (MVNO) licence acquisition in May 2023, its ambitions haven’t stopped there.

Its latest move involves a merger with mobile money provider M-Kudi, to acquire a Payment service Bank (PSB) licence from Nigeria’s central bank.

What’s the deal? Currently, Interswitch focuses on processing payments. The merger with M-Kudi—subject to regulatory approval—will allow Interswitch to create accounts and hold customer deposits. With a PSB license, the company will also be able to receive foreign currencies for its customers and offer agency banking services.

Aside getting regulatory approval for the PSB licence, a challenge Interswitch will have to face is convincing Nigerians who are known for being cautious about adopting new financial products.

Heating up competition: Interswitch isn’t alone. Considering its recent foray into the telecoms sector, entering the PSB market means facing established players like MTN MoMo, whose PSB wallet base reportedly has 5.3 million monthly active users. However, Interswitch’s established presence in Nigeria, where it derives 94% of its revenue could be an advantage.

NVIDIA GTC returns on March 18–21, 2024 to San Jose, California and virtually. It is renowned for being the premier AI event that brings together the brightest minds in the technology industry. 

Register now.

Coin Name	Current Value	Day	Month
Bitcoin	$73,220	+ 3.01%	+ 46.42%
Ether	$3,996	+ 1.16%	+ 51.12%
Tether USDt	$1.00	+ 0.03%	– 0.01%
BNB	$607.76	+ 12.81%	+ 87.58%

* Data as of 11:23 PM WAT, March 13, 2024.

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• In partnership with Spurt!, Oui Capital is hosting the 2nd edition of the African Amazon Masterclass for female founders taking bold steps to build & execute on the African continent.  Apply by March 18
• In collaboration with AfriGloCal VC, a venture capital firm building the African future by investing in entrepreneurs with global perspectives and innovative solutions, Lagos Innovates unveils its latest initiative, the Female Founders & Funders Program, an incubation and acceleration program designed for women. Female Startup Founders, apply here. Female Funders/Angel Investors, apply here. 
• As the world marks the 2024 International Women’s Day, Moniepoint Inc has announced the launch of this year’s edition of the Women-In-Tech initiative. Ten women will take on roles in various teams that include Cloud Engineering, Backend Engineering, Technical Product Management, Data Engineering, Systems Administration, Technical Support and User Experience. These women will be provided with a salary, work tools, merch, the opportunity to work on live projects during the internship and an offer of full-time employment depending on assessment post-internship. Apply by March 17.

What else is happening in tech?

• Meet the 15 startups founded by former Monzo employees
• UK invites African tech startups to apply for its Pathfinder Awards
• Makate wants Vodacom PCM appeal thrown out
• 60 crypto platforms set to be licensed in South Africa

Written by: Mariam Muhammad & Faith Omoniyi

Edited by: Timi Odueso

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Duke Ekezie, co-founder of Kippa, the Nigerian fintech startup, has taken a surprising turn out of Kippa and into a new venture, even as the company embarks on a bold pivot to edtech.

Here’s what you need to know: Founded in 2021 by Duke, his brother Kennedy Ekezie, and Uche Jepthat, Kippa was initially a bookkeeping startup that freed entrepreneurs from the drudgery of spreadsheets. In September 2022, Kippa secured a super agent banking licence and then launched its agency banking product—Kippa Pay— which was overseen by Duke. Jepthat left the company in November 2022, shortly after Kippa announced an $8.4 million funding round.

In October 2023, due to fierce competition and unprofitability, Kippa discontinued Kippa Pay and laid off 40 employees. In December, Kippa transferred the operations of Kippa Pay to Gpay, a payment subsidiary of Bloc, a Nigerian fintech about to launch banking services.

Kippa also struggled to make severance payments to its laid-off employees after it suffered a ₦‎30 million ($33,516) internal fraud, discovered a month after it shut down Kippa Pay.

Knowing when to persevere and when to pivot. On Wednesday, Kippa reportedly pivoted into providing edtech services. One day after the bold new chapter, Duke has decided to step down. While rumours of his departure swirled for months, Duke confirmed his exit and revealed he’s pursuing a new, undisclosed venture. He remains a shareholder and advisor in the company.

Moving forward: According to Duke, after closing the agency banking business, he and Kennedy revisited their strategy and identified two key problems during discussions with SMEs and large businesses. Duke mentioned, “One aligned with my goals, and the other with Kennedy’s, so we’ve decided to solve them individually.” 

He declined to share specifics of the problem he’s looking to solve with his new venture.

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Last year, Airtel Africa, a telecom company operating across 14 African countries faced headwinds from Nigeria’s naira devaluation and reported a loss after tax of $151 million in its Q1—April 1 to June 30, 2023 results. 

It seems 2023 continued to prove turbulent for the telecom giant as the company recently released its 9-month financial report ending December 2023, of a profit before tax of $2 million—a significant decline from the $523 million profit it recorded in the same period in 2022.

Currency devaluation’s sting: Airtel witnessed a significant drop in profits last year due to the decrease in the value of currencies in some of its main markets: Nigeria, Malawi, Zambia, and Kenya. Without these currency impacts, the profit before tax for the nine months ending December 2023 would have been $840 million.

The company experienced a 99% decline in profits, mainly due to the devaluation of Nigeria’s naira which cost Airtel $301 million. The country’s apex bank recently injected $500 million to address a lingering FX backlog, as the naira reached ₦1,421 per dollar on the official market this week.

Challenges beyond profits: Overall revenue dropped by 1.4% to $3.8 million from $3.9 million in 2022. Despite these external pressures, Airtel Africa boasts a 9.1% growth in its customer base, reaching 151.2 million. This growth was fuelled by a 22.4% surge in data subscribers and a 19.5% increase in mobile money users.

Undeterred by the profit decline, Group CEO Olusegun Ogunsanya says it won’t impact their growth plans. The company plans to focus on capital allocation priorities, repay debts, and invest in new opportunities like their recently launched data centre business, Nxtra by Airtel. Airtel Africa’s board also intends to return value to shareholders through a share buy-back programme of up to $100 million starting in early March 2024 over 12 months.

Nigeria’s apex bank is taking a gamble to resuscitate its ailing currency. 

The news: The Central Bank of Nigeria (CBN) yesterday eliminated the cap on exchange rates quoted by International Money Transfer Operators (IMTOs). 

What does that mean? CBN previously controlled the exchange rate at which International Money Transfer Operators (IMTOs) like Western Union and MoneyGram could sell foreign currency to Nigerians. Now, these companies can set their own rates within a certain range. The CBN previously allowed the IMTOs to deviate from the official rate by a maximum of 2.5% (-2.5% to +2.5%).

Per local media, the new development is in response to suspected hoarding of foreign currency by Nigerian commercial banks. The FG earlier gave a directive to commercial banks to release non-essential foreign currencies—currencies not needed for legitimate import payments, overseas travel allowances, or student tuition fees—to tame the naira’s depreciation against the dollar. 

Why is the FG doing this? The latest development represents the government’s attempt to resuscitate its ailing currency. The naira has suffered its worst devaluation in recent times, depreciating over 40% against the dollar since June, when the Central Bank adopted a more relaxed exchange rate policy

By allowing IMTOs set their own rates, the move could bring about increased competition, leading to lower exchange rates for Nigerians receiving money from abroad. This policy change could also incentivise IMTOs to bring in their foreign exchange holdings to Nigeria, potentially boosting domestic forex inflows.

Zoom out: The CBN’s move to scrap the IMTO exchange cap, while aiming for stability, could bring unintended consequences. Cheaper transfers might come at the cost of volatile exchange rates, hurting average Nigerians. Worse, the freedom from the cap could give unruly IMTOs room to charge excessive fees. Only time will tell if this gamble pays off, or if it creates more problems than it solves.

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MultiChoice says it will make a new $89 million cash injection in Showmax, its streaming platform, by the close of March 2024. The latest development comes as Showmax gears up for its February 12 relaunch. 

MultiChoice looks juicy to everyone: As users await the streamer’s upcoming update, investors are also looking to the future. MultiChoice is now in talks to be acquired by Canal+ after the French giant offered to acquire all outstanding shares they don’t already own in the company for R105 ($5.65) per share—an increase from the broadcaster’s current share price of R79 ($4.25). Canal+ began acquiring shares in the South African company in 2020, and steadily increasing its stake to 31.7% by June 2023.

In its 2023 financial results, Vivendi, owners of Canal+ stated that it was increasing its stake in MultiChoice for international expansion. This triggered speculation about a full takeover, fuelled by Canal+’s ambitious expansion plans into sub-Saharan Africa. Per South African laws, a shareholder is mandated to make an offer for a takeover when it reaches a 35% stake in a listed entity.

Zoom out: With Showmax’s relaunch in the works, MultiChoice is betting on it to become Africa’s premier streaming service. MultiChoice has revamped Showmax content offerings with new partnerships. The streamer will now offer a mobile-only English Premier League-only package, data-saving streaming bundles, and content from NBCUniversal’s subsidiaries, SKY and HBO.

The company is betting on Showmax to help it deliver its ambitious goals of having 50 million subscribers, earning $1 billion in revenue within five years, turning a profit by 2027, and making even more money as its business grows bigger.

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This week, Kenyan agritech startup Apollo Agriculture raised $10 million in debt funding from Swedfund and ImpactConnect, with implementation facilitated by DEG.

Here are other deals for the week:

• InspiraFarms Cooling, a Kenyan-based cooling solutions provider, secured a $1.09 million investment from investors, including the Foundation for Clean Energy and Energy Inclusion for Africa (CEI Africa), KawiSafi, and Factor[e].
• Egyptian delivery management startup Roboost closed a $3 million investment round led by Silicon Badia, with participation from RZM Investment, Flat6Labs, and Saudi Angel Investors.
• Senegalese B2B commerce startup ProXalys, raised $500,000 in a funding round led by 216 Capital, a Tunisia-based seed fund. It also features Haskè Ventures and Digital Africa through its FUZE programme.

Before you go, our much anticipated State Of Tech In Africa Report for Q4 2023 is now out. Click this link to download it.

Follow us on Twitter, Instagram, and LinkedIn for more funding announcements. You can also visit DealFlow, our real-time funding tracker.

Dive deeper — our friends at Semafor Africa bring forward original reporting and insight on the world’s fastest-growing economies. Sent to your inbox 3x a week, Semafor Africa discusses the impact African business, politics, tech, and culture have on the world, shedding light on ever-changing power dynamics of the global economy. Subscribe for free.

Coin Name	Current Value	Day	Month
Bitcoin	$43,019	+ 1.00%	– 1.62%
Ether	$2,299	+ 0.48%	– 1.82%
Tether USDt	$0.9998	– 0.02%	– 0.03%
BNB	$300	– 0.22%	– 4.02%

* Data as of 22:02 PM WAT, Febraury 1, 2024.

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• The 6th Africa Tech Summit Nairobi is set for February 14–15, 2024. The Summit will connect tech leaders from the African ecosystem and international players under one roof. Network with key stakeholders including tech corporates, mobile operators, fintech, Web3 ventures, investors, innovative startups, regulators, and industry stakeholders driving business and investment forward. You can also get a 10% discount when you use the code “TECH10”. Register here.
• Think securing funding guarantees your startup’s success? Think again! Register for this free webinar by BrandOn on “Why Startups Fail Even After Raising Capital”. On February 10, you’ll get to learn from Gerald Black (Black Ops), Oluwadunni Fanibe (TechStars), and others. Register here. 

What else is happening in tech?

• Africa’s Blockchain pioneer Zone will launch remittance product in 2025
• Only four African startups secured $100 million in 2023. Here’s why
• The Messenger is set to close after less than a year of operations
• Oracle is set to open its second African public cloud centre region in Kenya

Written by: Faith Omoniyi & Mariam Muhammad

Edited by: Timi Odueso & Kelechi Njoku

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• The Next Wave: futuristic analysis of the business of tech in Africa.
• Entering Tech: tech career insights and opportunities in your inbox every Wednesday at 3 PM WAT.
• In a Giffy: business decisions powered by data-driven insights and analysis you can trust.
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Opay, DHL, and Meta may face the full wrath of the law NDPC.

The companies may have their hands in hot water if found guilty of data privacy violations by the Nigerian Data Protection Commission (NDPC). 

What is their offence? Opay is being investigated over claims of opening accounts for people without their consent. The fintech has, however, rebuffed those claims. The details around Meta and DHL’s possible infractions are unclear. A highly placed source told TechCabal that Meta customers complained that the company targeted them in behavioral advertisements without their consent. The big tech company said it was working with the NDPC on the inquiry. 

A bowl of consequences: Under the Nigerian Data Protection Act, all three companies may be asked to pay ₦10 million ($1,000) or 2% of their gross revenues in 2022, as fines if found guilty.

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A South African high court has ruled out eMedia’s case against Multichoice. 

What’s happening?: On October 1, Openview, DStv’s competitor and owners of eMedia, took the broadcaster to court over a dispute about broadcasting rights for the Rugby World Cup. 

Multichoice had struck a deal—valued around R57 million ($3 million)—with South Africa’s public broadcaster, SABC, to exclusively broadcast the Rugby World Cup matches live in the country. However, MultiChoice prohibited the SABC from airing the games on third-party platforms it doesn’t own, like Openview-owned eMedia. 

Openview deemed this move by Multichoice to be “overtly anti-competitive” and published an open letter to express its displeasure at some Multichoice executives, before finally taking the broadcaster to court. 

However, the jury has backed Multichoice saying that the broadcaster paid heavily to acquire the exclusive broadcasting rights for the Rugby World Cup, and that it would be financially unwise to give out the exclusivity it paid for. 

Zoom out: Multichoice’s victory dashes South Africans’ hopes of watching rugby matches for free on Openview.

Smartcash Payment Service Bank (PSB) Limited has unveiled a convenient solution for its customers. 

The PSB, which is a subsidiary of Airtel Nigeria, has announced a partnership with Thunes, a cross-border payments infrastructure provider, to offer international remittances in naira to mobile wallets.

How the service works: The service allows Smartcash PSB customers to receive inward remittances from countries worldwide directly into their Smartcash accounts by simply sharing their phone numbers, which also serve as their account numbers. Funds are sent swiftly, and at no cost to the recipient, and can be accessed across the Smartcash agent network.

This move aligns with the Central Bank of Nigeria’s (CBN) announcement, made in July this year, regarding the inclusion of the naira as a payout option for diaspora remittances. In response, financial service providers have been actively forging partnerships to facilitate this. In August, MoMo PSB partnered with Saana Capital LLC, a licensed International Money Transfer Operator (IMTO), to facilitate seamless inbound and outbound transfers across Africa.

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KB4-CON EMEA is a free virtual event that focuses on cybersecurity and is designed for CISOs, security awareness, and cybersecurity professionals in Europe, the Middle East, and Africa. You can find the full agenda for the event here.

Coin Name	Current Value	Day	Month
Bitcoin	$27,079	– 1.96%	+ 5.29%
Ether	$1,560	– 1.57%	– 2.91%
Neutron	$0.35	– 1.16%	+ 9.72%
XRP	$0.49	– 2.06%	– 1.26%

* Data as of 05:10 AM WAT, October 11, 2023.

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• The National Information Technology Development Agency (NITDA), through the Office for Nigeria Digital Innovation (ONDI), in collaboration with the Japan International Cooperation Agency (JICA), are organising a one-week networking visit to Japan by selected Nigerian CleanTech Startups. Apply here.

• Applications are open for the Aurora Tech Award 2024. The Award is an annual global prize for women founders of tech startups. Winners of the first prize get $30,000, the second prize gets $20,000 and the third prize gets $10,000. Apply by December 1.

What else is happening in tech?

• Flutterwave hires ex-Chipper, Microsoft and Safaricom employees in Kenyan expansion drive
• How AI reduces the world to stereotypes
• How a Ugandan startup wound up in Mexico

Written by – Faith Omoniyi & Mariam Muhammad

Edited by – Timi Odueso

Want more of TechCabal? Sign up for our insightful newsletters on the business and economy of tech in Africa.

• The Next Wave: futuristic analysis of the business of tech in Africa.
• Entering Tech: tech career insights and opportunities in your inbox every Wednesday at 3 PM WAT.
• In a Giffy: business decisions powered by data-driven insights and analysis you can trust.

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Careless not misleading: In the judgement against the plaintiff, Judge Chaitram called out the lawyers stating that they were, “simultaneously simply overzealous and careless.”

“The embarrassment associated with this incident is probably sufficient punishment for the plaintiff’s attorneys,” said Chaitram.

Big picture: This is the second case where lawyers have used ChatGPT to source for cases, and failed. In May this year, a US law firm was fined $5,000 after one of its lawyers used ChatGPT to cite bogus cases. It’s also one of the many cases where ChatGPT and similar services have provided false information to users.

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In layoff news, Nigerian healthtech Medsaf has laid off all its full-time employees, about 30 employees.

Last week, sources confirmed to TechCabal that the startup, in March, made the layoff announcement via its chief operating officer Rotimi Lawal. Lawal informed staff that the company was experiencing funding gaps and other dismal payment issues in the operation of its business. 

The company—which has raised $3.6 million total since its founding in 2017—has reportedly been facing financial difficulties since mid-2022, and this led to delays in staff and vendor payments. 

Unpaid salaries and benefits: Several laid-off employees also confirmed that they hadn’t been paid salaries since December 2022, despite promises from the company that salaries arrears would be paid by April 2023. 

In response, Medsaf’s CEO, Vivian Nwakah, blamed the situation on investors reneging on funding commitments. Nwakah also noted that staff had been asked “not to come to work in January…So many of the employees that you are speaking with hardly worked in January and are requesting salaries that are owed to them when they were not actively working for the company,” she said.

Sources also allege financial misappropriation by the company’s management citing a $100,000 project fee that never made it into the company‘s accounts. 

Medsaf denies the story: A day after the report, CEO Nwakah took to LinkedIn to tag the report as “full of lies, misinformation and slander”. In the post, Nwakah shares a cease and desist letter to TechCabal where Medsaf—through its lawyers—demanded a retraction of the story, and an apology. 

TechCabal, however, stands by its story. We have found no instances of material errors, misrepresentations, falsehoods, or malice in our article. 

More Kenyans are getting 5G!

Last week, Airtel became the second telecom to launch 5G in the East African country, following Safaricom’s October 2022 launch.

Where is it launching? We don’t know yet, Airtel hasn’t specified. The telecom only mentioned that it has 370 5G sites spread across 16 counties. However, the service is expected to focus on customers in major areas and cities such as Nairobi, Nakuru, Mombasa, and Kisumu.

Ashish Malhotra, the managing director of Airtel Kenya, said, “Airtel 5G will revolutionise various sectors, such as smart cities, education, healthcare, agritech, transport systems, entertainment, and more, shaping the future of Kenya.”

Can anyone use it? Only if your device is 5G-capable. Airtel argues that customers will be moving in and out of 5G areas and will be well-served by 4G bundles, which can access 5G without issues. The telecom also announced 5G Wi-Fi routers and plans which it is offering to businesses and residential areas. Find the pricing here.

Zoom out: More telecoms are shooting to launch 5G in the country including the state-run telecom Telkom. The telecom, however, has been facing financial difficulties, leading to the telco’s failure to pay the American Tower Corporation (ATC) Ksh200 million for tower leasing.

Connect with growth leaders, operators, and enablers to explore proven tactics for driving sustained business growth in Africa at GrowthCon 1.0. Experience curated masterclasses, case studies, a growth hackathon and more.

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Coin Name	Current Value	Day	Month
Bitcoin	$30,120	– 0.52%	+ 16.74%
Ether	$1,860	– 0.51%	+ 4.00%
BNB	$233	– 0.83%	– 1.95%
Cardano	$0.28	– 0.97%	+ 15.61%

* Data as of 06:00 AM WAT, July 10, 2023.

This is Moonshot by TechCabal.

Moonshot is a conference that will bring together Africa’s tech ecosystem to network, collaborate, share insights and celebrate innovation on the continent.

Click here to join the waiting list to get more news and updates about this conference. 

• The SaaS Accelerator Programme: Africa 2023 has opened applications for its accelerator programme to enable early startups in Africa to receive funding. Selected startups will receive up to $70,000 in funding. Apply by September 7.
• Wise Guys SaaS Accelerator Program is looking to help SaaS startups level up through tailored guidance and support from world-class mentors and experts. Apply before September 7.
• The AAAS Kavli Science Journalism Awards 2023 ($5,000 prize)  is now open to applications from reporters doing work for independent news organisations around the world, with articles readily accessible to the public by subscription, newsstand sales or online access, with the submitted work available in English are eligible to Apply by August 1.
• If you are a young (no older than 24 years of age) and emerging photographer looking to embark on a career in the world of photojournalism, the Ian Parry Photojournalism Grant 2023 (up to £10,000) is open for Applications. Apply by August 31.

What else is happening in tech?

• What to expect from Nigeria’s new tax reform committee
• Y Combinator’s fundamentals resurfaces with its first-ever “top companies by revenue list”
• More than 3 million customers are now using the M-PESA super app
• A South African techpreneur has been locked up for international fraud

Written by –

Timi Odueso & Ayomide Agbaje

Edited by –

Timi Odueso

Want more of TechCabal? Sign up for our insightful newsletters on the business and economy of tech in Africa.

• The Next Wave: futuristic analysis of the business of tech in Africa.
• TC Weekender: weekly roundup of the most important tech news out of Africa.
• Entering Tech: tech career insights and opportunities in your inbox every Wednesday at 12 PM WAT.
• In a Giffy: business decisions powered by data-driven insights and analysis you can trust.

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