TechCabal Daily, 647 - Uber, Careem and An Egyptian Fine

[View this email in your browser]( PRESENTED BY COWRYWISE AND LOCALCOINEXCHANGE 30 - 10 - 2018 Good morning and welcome to today's edition of TC Daily. Did a friend or colleague forward this to you? Do take a minute to [subscribe]( you don't miss out on future editions. A MESSAGE FROM OUR SPONSORS Meeting up with personal financial goals, from owning a home to building trans-generational wealth, is a desirable thing. Desirable but tough. [CowryWise]( makes it easier by helping you plan a unique and sustainable path to attaining your financial goals. This is done through convenient automated savings and investment. You can launch the pursuit of your goals with a simple click. Check them out [here](. Following repeated rumors of a potential merge/acquisition between Uber and Careem in Egypt, Egyptian regulators have announced [a possible $28 million fine]( per party involved in the deal, should it happen. The regulators are saying the merger of Egypt's only two ride-hailing services would result in an anti-competitive environment and have slapped on further conditions (like its approval) before such a deal can be allowed. Hacktivist group, Anonymous, have defaced several websites belonging to the Gabonese government in protest of President Ali Bongo, [iAfrikan reports](. The group has previously targeted social media handles affiliated with the Islamic State and government-owned websites in South Africa, Zimbabwe and Nigerian in the past. Collaborative medicine startup, Réseau d’Échange entre Médecins d’Afrique (Rema) [has won Seedstars Abidjan 2018]( and will go on to represent Cote D'Ivoire at the world event in Switzerland, where it stands a chance to win $1 million in funding. African telcos are increasingly getting into other segments in a journey of evolution reminiscent of 1980s-style US conglomerates with multiple revenue streams, [writes Yomi Kazeem for Quartz Africa](. Across the continent, more and more telcos are investing in, and building out, alternate revenue streams in segments like ride-hailing, mobile money and renewable energy, inadvertently taking the fight to mainstays like banks. Early stage VC Microtraction has made an undisclosed investment in Riby, a Nigeria-based startup that enables informal Cooperatives, Trade Groups or Credit Unions to better manage their members, savings & contributions, lending, and investments. More details in[the announcement](. Zimbabwean startups can now be a part of the Google Launchpad Accelerator program, [Techzim reports](. Previously excluded, Zimbabwean startups can now apply to be a part of Google's launchpad network and potentially get a piece of $3 million in equity-free funding. Goggle has already selected one class of startups from Kenya, Nigeria, South Africa, Uganda and Tanzania to the first class of 2018. MTN seems to be doing something right despite a myriad of regulatory spats across the continent. Africa's largest telco [increased sales revenue]( by 10% Y-o-Y and and added 2.5 million subscribers, sending shares up 2.5% yesterday. Foreign Direct Investment into Africa increased in 2017, according a new report from EY Africa. Per the report, South Africa retains top spot as the premier FDI destination in Africa along with Morocco, Kenya, Nigeria and Ethiopia, collectively making up ~40% of FDI coming into the continent. [Biztechafrica breaks it down]( even further. Four Africa-based startups [have been selected]( to be part of US-based accelerator PeaceTech's latest cohort. Two of the startups, Coven Works and Muster, are from Nigeria and the other two, Devless and Jetstream Africa, from Ghana. Hardware Lagos is having their next event at CcHub on November 10. It will focus on "Getting to Market," with emphasis on manufacturing and supply chain to deliver at scale. RSVP [here](. DevFestLagos, hosted by GDGLagos, is going down on November 3, 2018 at Zone Tech Park, Gbagada, Lagos. The event will be focused on #DigitalWellbeing featuring over 26 different sessions planned across multiple tracks on Android, Web, Cloud and Machine Learning. Register [here]( attend. Ethel Coffie, founder of Women in Tech Africa, wast on the Financial Times podcast to discuss why and how African startups need to stop "copying" the Silicon Valley model. Check it out [here](. A MESSAGE FROM OUR SPONSORS On [LocalCoinExchange]( buyers trade directly with sellers that have flexible rates and mode of payments. Many of the sellers trade via bank transfers, Paypal, credit and debit cards, cash, and a range of other crypto exchanges. In a further commitment to its goal of making cryptocurrency trade easier, LocalCoinExchange would like to know [what major problems you've faced with currently available crypto exchanges?]( From TechCabal + [The Fulfillment Model and Scaling Online Retail In Africa]( + [Oolu Solar Is Taking On Nigeria’s $2 Billion A Year Solar Home System Market]( All Done. We'll see you tomorrow. - Akindare. Do the right thing. Share this digest. [Share]( [Tweet]( [Forward]( Copyright © 2018 Big Cabal Media, All rights reserved. You are receiving this email because you signed up on TechCabal.com Our mailing address is: Big Cabal Media Plot B, Block 1, Industrial Avenue, Ilupeju Industrial EstateIlupeju 100252 Nigeria [Add us to your address book]( Want to change how you receive these emails? You can [update your preferences]( or [unsubscribe from this list](.