This week: Kuda gets digital banking licence in Pakistan

Pamela Tetteh Editor, TechCabal.

TechCabal Insights’ State of Tech report for Q3 2022 is still available for download.

The report entails analyses of data on acquisitions, expansions, and funding in Africa’s tech ecosystem. These insights are contexualised based on discussions with stakeholders in the ecosystem.

It presents easy-to-digest insight and data points based on evidence-based research that anyone from founders to investors will find useful.

The report is available for download here.

	Ghana slaps MTN with $773 million fine A hefty fine—the kind that is usually thrown at big tech companies like TikTok and Facebook—has landed close to home. The Ghana Revenue Authority slammed MTN Ghana with a $773 million fine for outstanding tax obligations from 2014–2018. MTN is contesting the fine like it successfully did when the Nigerian government played the same hand in 2020. Learn more.
	Vodacom sues the SA police MTN is embroiled in another controversy in South Africa—a lawsuit involving another telecommunications provider, Vodacom, and the South African Police (SAPs). The SAPs awarded MTN its cellular contract, ending its 20-year deal with Vodacom. Now, Vodacom is suing SAPs to nullify the cellular contract which pays MTN R20 million ($1.2 million) per month. Learn more.
	Africell gets MoMo licence in Angola Mobile money (MoMo) isn’t slowing down, it seems. Africa-focused telecom services provider, Africell, has received a licence to operate its mobile money (MoMo) service, Afrimoney, in Angola. In fact, it received the license in October 2022 and is already in the middle of a six-month testing phase. It is scheduled to launch in April 2023. Learn more.
	Fincra obtains PSSP licence Six months after issuing fintech startup Fincra an approval-in-principle, Nigeria’s central bank has awarded the fintech a PSSP license, enabling it to operate as a payment solutions service provider within the country. Learn more.
	Djibouti’s billion-dollar spaceport Africa could be getting its first orbital spaceport, as Djibouti has signed a deal with Hong Kong Aerospace Technology to build one. So far, fourteen African countries have launched 52 satellites into space. The value of the continent’s space and satellite industry will continue to grow as it acquires more space infrastructure. Learn more.
	Starlink is coming to more African countries Last year, Starlink received approval to launch in Nigeria and Mozambique. This week, the internet service provider also announced plans to set up in Kenya and 20 more African countries, which curiously does not include CEO Elon Musk’s birth country, South Africa Learn more.
	Apple’s new Macbooks Apple has released new MacBook Pros and they have the longest battery life ever in a Mac—up to 22 hours. They are also more efficient than their predecessors and have updated custom technologies that significantly extend their capabilities. This is all thanks to the new Apple chips— the M2 Pro and M2 Max. Read more.

Who brought the money this week?

• Carry1st, a South-African based gaming company, raised $27 million in an undisclosed round from Bitkraft Ventures and a16z.

• Kenyan fintech company Kwara raised $3 million in seed funding from backers DOB Equity, Globivest, One Day Yes, Base Capital, and Mikko Salovaara.

• AgroEknor, a Nigerian food and agricultural company, raised an undisclosed amount in funding from Aruwa Capital.

• Ethiopia-based Pan-African talent marketplace Gebeya received an undisclosed amount in pre-Series A funding from Inclusion Japan.

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