Kenya’s Central Bank Proposes Charter To Regulate Online Lending Space
|
Welcome to today’s edition of TC Daily! If this mail was forwarded to you, please take a moment to subscribe. Join our community!
|
|
| A MESSAGE FROM OUR SPONSOR |
|
|
|
Passion Incubator’s Future of Work in Nigeria report is a comprehensive and insightful study on the effect and implications of global trends on the disruption of work places in Nigeria. It is an examination of challenges and opportunities that these disruptions represent for Nigerian workers and the private sector. The Future of Work in Nigeria report is completely free of charge and can be downloaded via this link: http://futureofwork.africa/nigeria/
|
|
|
WorldRemit has raised US$175 million in a Series D funding round led by returning investors, TCV, Accel and Leapfrog Investments. The company says this round of investment will enable it drive global growth further and diversify the company’s product offering for both money transfer senders and recipients. A new money transfer solution targeting small and medium-sized business owners who trade internationally, especially in emerging markets, is also in the offing. WorldRemit handles a growing share of the $700 billion remittances sent each year by expatriates and migrant workers to their home countries. Today, the company serves almost 4 million customers transferring money from 50 “send” countries to 150 “receive” countries.
|
|
|
The Central Bank of Kenya has announced a proposed Banking Charter, a rule book it says will guide the currently unregulated online lending space in the country. Online lending platforms which do not adhere to the guidelines in the charter – which are, in principle, similar to guidelines for traditional banks – risk being cut off. Under the proposed guidelines, online lending platforms will be required to text their customers the terms and conditions of a loan including interest rates and repayment plans or fines for late repayment but must do so in-app and using other features like USSD.
|
|
|
Flutterwave, BitPesa, OneFi, and Lidya are among seven African fintech startups slated to speak at the Africa Tech Summit London, on June 11. Others include Branch International, JUMO and Yoco. The Summit is part of the London Tech Week and participating startups will join Africa Tech Summit London to open trading on the London Stock Exchange. The African fintech sector continues to record rapid growth and interest from the international community. Last year, over US$284 million was invested in the sector by local and international investors and it continues to expand efforts to increase the numbers of the financially included across the continent.
|
|
| We’ve put together an informative content stack for healthcare entrepreneurs covering a wide range of subjects from how to develop new product and services to scaling in Nigeria’s tough business clime. Want more? Download our report, “The State of Health Tech in Nigeria”, for a sector deep dive into challenges, opportunities and recommendations compiled especially for innovators, investors and regulators. Get it here. |
|
| Eight ed-tech startups from five African countries have been chosen to take part in the latest Injini accelerator programme in Cape Town, South Africa. The four-month programme will provide participating businesses with funding, and dedicated support from industry experts and skilled business mentors. South Africa’s Zaio, Nigeria’s OTRAC and Zambia’s Agricomm Media are among the startups selected for this cohort, the third since the programme’s launch in 2017. |
|
|
Applications are open for the Kaspersky Lab Open Innovations Programme till July 28. The global security giant is looking for innovative products and technologies to meet its current and potential customers’ cybersecurity needs especially in the areas of transportation, Industrial Internet of Things (IIoT), anti-fraud and blockchain. The best projects will be chosen for technical integration with Kaspersky Lab products and become part of the company’s portfolio promoted all over the world. Here’s your chance!
|
|
| The Nigerian-British Chamber of Commerce (NBCC) and EduFirst Ng have announced plans to organize the maiden edition of the EduTech Conference in Nigeria. The aim of the conference themed ‘Education, Technology & Jobs; A Synergy that Works’, is to provide a platform for government, regulatory agencies and educational professionals to interact and share knowledge on the revitalization of Nigeria’s education system, through the application of technology and innovation. According to a 2009 United Nations report, over 9 million Nigerians children are out-of-school while more than 40 million over the age of 15 are illiterate. |
|
| Entries are sought from interested participants for Season 4 of the Pitch & Perfect masterclasses and competition organised by the Small Enterprise Development Agency (Seda) in partnership with SA Innovation Summit. The initiative provides small businesses with tools on how to present their business cases effectively and efficiently to potential funders. Entrepreneurs are also provided with access to markets, technology and finance. Be sure to apply before the deadline, June 25. |
|
| From a US$125 company founded in the University of Nigeria, Nsukka, Greenage Technologies Power Systems Ltd., an Original Equipment Manufacturer (OEM) startup in the energy industry, based in Enugu, South-east Nigeria, has announced the successful raise of US$57,000 in seed funding. Investments came from the South/South-East (SSE) Angel Network, the Genesys Tech Hub, Enugu and an undisclosed private investor. Having announced the appointment of Prof. Umezuruike Linus Opara as Chairman of the Board, the company says it is looking to expand its products across the country and provide the hardware necessary for renewable energy startups to actualize their goals. |
|
|
One hundred African startups have been selected by Africa Moves to attend The Big Summit in Tunis, Tunisia from June 17 to June 21. The summit will bring together startups, investors, innovation experts, as well as tech enthusiasts from across the globe and provide a platform for the exchange of ideas and to connect. Here’s a list of the 100. They will not only receive exhibition stands at the summit but the opportunity to pitch to investors.
|
|
|
The Nigerian government plans to begin implementing automatic and direct collection of VAT on online transactions in Nigeria. What does this mean for an already wobbly e-commerce sector?
|
|
That’s it for today,
We’ll see you on Thursday.
– Kay
|
|
|
|
Don’t keep this to yourself, share the digest.
|
|
|
|
|
