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An exclusive podcast reporting daily on the happenings in the world of tech in Africa. From Social Media to Agric-tech, Legal tech, Fintech, Health-tech, Edtech, etc; All the stories, events,...
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An exclusive podcast reporting daily on the happenings in the world of tech in Africa.
From Social Media to Agric-tech, Legal tech, Fintech, Health-tech, Edtech, etc; All the stories, events, and fundraising, catch the latest juice right here from Monday to Friday
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From Social Media to Agric-tech, Legal tech, Fintech, Health-tech, Edtech, etc; All the stories, events, and fundraising, catch the latest juice right here from Monday to Friday
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Transcribed
21 FEB 2024 · Amazon alleged in a legal filing published that the National Labor Relations Board is unconstitutional.
SpaceX and companies that, like Amazon, have repeatedly faced labor law violations from the federal agency have recently made similar attacks that threaten national worker protections.
Amazon claims that the NLRB’s structure is unconstitutional because administrative law judges are insulated from presidential oversight, thus violating the separation of powers. The company also argues against the structure of NLRB itself, as well as its ability to fine a company for unfair labor practices after a hearing, rather than a full jury trial.
Transcribed
21 FEB 2024 · Partech has closed its second Africa fund, Partech Africa II, at $300 million+, just one year after reaching its first close.
Partech Africa, which originally targeted €230 million before its fundraising efforts started, solidifies its position as the largest fund dedicated to African startups.
Amidst a backdrop of global VCs and institutional investors pulling back from Africa, Partech Africa’s recent fund closure is significant.
The continent witnessed a notable decline in investor activity, with a 50% decrease in 2023 compared to the previous year, as highlighted in a Partech report.
This retreat, influenced by global economic shifts and local challenges, translated into reduced venture capital inflows for African startups, totalling between $2.9 billion and $4.1 billion last year, down from $4.6 billion to $6.5 billion in 2022.
Transcribed
21 FEB 2024 · Roam, a Kenya-based electric vehicle company has raised $24 million in equity and debt to expand local manufacturing capabilities in Kenya, scale up production at its new 10,000 sqm Roam Park facility, invest in research and tooling for cost efficiencies, and streamline local and global supply chain networks.
The $14 million Series A funding round was led by Equator Africa and participation from At One Ventures, TES Ventures, Renew Capital, The World We Want, and One Small Planet, among other prominent private and institutional investors.
The $10 million debt facility was provided by the International Development Finance Corporation.
Estimates from the BloombergNEF show that EV sales are projected to reach 16.7 million in 2024, representing a 20% increase from the previous year.
Transcribed
21 FEB 2024 · Botswana’s telecoms regulator has warned the public against the importation, use, and resale of Starlink devices in the country.
The importation, use, and resale of Starlink devices are punishable offences in Botswana, according to the Botswana Communications Regulatory Authority.
Starlink is not yet licensed in the country and the regulator has stated that it is currently vetting the service’s application.
Reports indicate that some owners of Starlink devices, who claim to be using them for personal use, are being barred from entering the country with them at the Kazungula border post with Zambia, where the service has officially launched.
Transcribed
21 FEB 2024 · Disha announced the product will be paused indefinitely from March 31, 2024. Its 100,000 creators have until then to migrate their content and profiles to other platforms.
Flutterwave’s CEO Olugbenga Agboola says at the time, that he considered Disha the creator version of Flutterwave Store which now serves over 900,000 businesses across 154 countries.
Early in 2022, Flutterwave also paused its Barter by Flutterwave, its virtual dollar card service, due to problems its partner company, Union54, faced with chargeback fraud.
Transcribed
21 FEB 2024 · The country, in 2019, approved $433 million to bankroll a five-year project that would provide everyone with unique 11-digit identification numbers that would be registered to every SIM card. So far, about 102.39 million NINs have been registered.
Security officials in the country’s tech capital of Lagos have announced the reactivation of tracking devices to apprehend kidnappers.
The Lagos State Commissioner of Police says that it’s working with several other agencies to apprehend culprits in hot zones.
The tech used to track SIM cards and match the national identity numbers registered to the cards has been deactivated since 2021.
The sources also revealed that the payment for the tracking service at the NPF was suspended at the same time.
Transcribed
14 FEB 2024 · Oregon may soon become the latest state to pass right-to-repair legislation.
Last month, Google lent its support in an open letter, calling Senate Bill 1596 “a compelling model for other states to follow.
The bill, sponsored by a sextet of state senators and representatives, was inspired in part by California SB 244, which Governor Gavin Newsom signed into law in October.
Apple openly supported that bill — a rare endorsement from a tech giant that loves playing it close to the vest. Cupertino is, however, less enthusiastic about certain inclusions in the Oregon legislation that were absent from the California law.
John Perry, Apple's senior manager, of Secure System Design, says Apple agrees with the vast majority of Senate Bill 1596 and appreciates her willingness to engage in an open dialogue.
Transcribed
14 FEB 2024 · Ethiopia is placing a ban on gasoline and diesel car imports, and express admission on electric vehicles.
Transport Minister Alemu Sime, says prioritises both green energy and reducing dependence on fuel imports.
The ban will involve smoke tests for current vehicles, with those failing considered unsuitable for road use.
The government intends to establish a robust network of EV charging stations to support the expected increase in electric vehicles. The government’s decision in 2022 to offer tax exemptions for electric cars also underscores its commitment to green initiatives.
However, several companies are starting to assemble and sell EVs locally, including Hyundai and Marathon Motor Engineering.
Transcribed
14 FEB 2024 · Kenya has proposed an AI and robotics law that includes fines of up to $6,250 for unlicensed businesses.
The Kenya Robotics and Artificial Intelligence Society Bill 2023 introduced the fine to regulate and support the growing sector.
The bill also outlines the establishment of the Robotics Society of Kenya (RSK), a proposed regulatory body empowered to issue licences and levy the $6,250 fine on unlicensed businesses. Failure to comply could even land offenders in jail for two years. This body will also advise the government on emerging trends in AI and robotics.
The proposal has sparked discussions among AI enthusiasts and advocates, who view the law as a severe threat to innovation and growth and believe that it is merely another avenue for the government to create unnecessary bureaucracy and generate revenue.
Transcribed
14 FEB 2024 · Ibrahim Ibitade, CEO of Leatherback, a cross-border payments startup that operates in seven countries, has successfully cleared his name following an intense episode with Nigeria’s anti-graft agency, the EFCC.
Ibitade deemed the EFCC’s actions bullying and is now seeking accountability for the agency’s lack of due diligence.
Leatherback denied the rumours, of lost money to SDQ Facilitators but an EFCC investigation into SDQ Financials was launched. The investigation revealed that SDQ used Leatherback’s naira and USD wallets, but Leatherback claims they were unaware of any fraudulent activity.
Leatherback says it will continue its trajectory towards success, as the company claims it processed $500 million in monthly transactions by June 2023 and was nearing the $1 billion mark before the EFCC episode.
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An exclusive podcast reporting daily on the happenings in the world of tech in Africa. From Social Media to Agric-tech, Legal tech, Fintech, Health-tech, Edtech, etc; All the stories, events,...
show more
An exclusive podcast reporting daily on the happenings in the world of tech in Africa.
From Social Media to Agric-tech, Legal tech, Fintech, Health-tech, Edtech, etc; All the stories, events, and fundraising, catch the latest juice right here from Monday to Friday
show less
From Social Media to Agric-tech, Legal tech, Fintech, Health-tech, Edtech, etc; All the stories, events, and fundraising, catch the latest juice right here from Monday to Friday
Information
| Author | Africa Business Radio |
| Organization | Africa Business Radio |
| Categories | Tech News |
| Website | - |
| info@africabusinessradio.com |
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