The leading African tech moves from May

WhatsApp may let you edit your sent messages [Read this online]( [TC Daily Logo] 2 JUNE, 2022 IN PARTNERSHIP WITH [Flutterwave Logo] Happy pre-Friday And we’re starting off the month with good news from WhatsApp. The app is reportedly working on a new feature that will allow you to [edit sent messages](. Image source: WABetaInfo Don’t get too excited though. It’s not the first time WhatsApp is working on this feature. In 2017, WhatsApp [was reportedly]( working on the feature but didn’t roll it out. If WhatsApp does roll out the feature this time, it’ll accomplish 2 things: there’ll be fewer “deleted messages” alerts that make receivers feel like they lost out on endearing love letters. And WhatsApp will be upstaging Twitter, an app where everyone is constantly begging for an edit button. In today's edition - The leading African tech moves from May - Opportunities CRYPTO MARKET * Data as of 09:10 PM WAT, June 1, 2022. Is this column helpful to you? [Please take our survey](. [WhatsApp]( [Twitter]( [LinkedIn]( [Facebook]( [Email](mailto:info@example.com?&subject=&body= THE BIGGEST AFRICAN TECH MOVES FROM MAY May may have crawled by, but that didn't slow Africa's tech ecosystem down. From Starlink's upcoming entry into Mozambique and Nigeria, to Ethiopia's 5G tests, here are the top 10 leading happenings from May 2022. 1. FINTECH RETAKES LEAD IN MAY In May, African startups raised $437,100,000 across 49 fully disclosed* deals as fintech startups retook the lead. This marks a 5.3% increase from what was [raised in April]( 2022. Per sector, the top 3 sectors are fintech, mobility, and AI/deeptech. Fintech startups raised $195,900,000 (44.82%), AI/deeptech startups raised $47,000,000 (10.75%), and mobility/logistics startups raised $45,700,00 (10.46%). Per region, West Africa leads with 37.47% of the amount raised. This is largely led by fintech Interswitch's $110 million raise. North African startups are second with $122,700,000 (28.07%), while East African startups raised $64,400,000 (14.73%). The top 5 disclosed deals of May are: - Nigerian fintech Interswitch's [$110 million raise]( from in joint investment from LeapFrog investments and Tiana Africa Capital. - Egyptian Fintech Paymob's [$50 million Series B raise](. - Egyptian deeptech startup Instabug's [$46 million Series B raise](. - Crypto startup [Jambo's $30 million raise](. - Crypto startup Mara's [$23 million raise](. Note: This data is inclusive only of funding deals announced in May 2022. Raises are often announced later than when the deals are actually made. This data is exclusive of estimated grants from accelerators like Techstars or Y-Combinator. 2. STARLINK IS COMING TO AFRICA Lightning-fast internet is coming to the continent but it’s only for those who can afford the hefty fees. In May, it was announced that Elon Musk’s internet service, Starlink, had received [approval to launch in rural areas in Nigeria and Mozambique](. Starlink promises 150 Mbps on its standard plan and up to 500 MBps on its premium plan. That’s super-fast, but how many Africans can truly afford Starlink? 3. ICASA AND ANC ARE DOUBLING DOWN ON DSTV May was a difficult month for the continent’s biggest television streaming service. On the heels of price hikes, DStv is facing 2 regulatory hammers in South Africa. On one end, the Independent Communications Authority of South Africa (Icasa) is [relaunching an inquiry]( that may cut DStv’s monopoly in the streaming market. On the other, the [African National Congress (ANC) has submitted a policy]( that will ban national sports teams in South Africa from giving DStv—or any streaming service—exclusive streaming rights. SEND BY FLUTTERWAVE Don't just send money, send money fast. Send and receive money directly to mobile wallets, bank accounts, Barter or through cash pickup with $end. Visit [send.flutterwave.com]( and do it now! This is partner content. 4. DISNEY+ LAUNCHES IN SOUTH AFRICA Speaking of streaming in South Africa, the US-streaming platform [Disney+ launched in South Africa](, in May. Disney+ South Africa’s arm offers users the Standard Plan at R119 ($7.47)/month or R1,190 ($74.64)/annum. For South Africans, this means a lot more options, but for other services like DStv, it means heavy competition. 5. FACEBOOK GETS SUED IN KENYA A group of Facebook content moderators in Kenya are suing the company. Months after it was revealed that Kenyan content moderators were being [mistreated and underpaid](, one of the ex-moderators, Daniel Motuang, has [filed a lawsuit]( against Facebook and Sama, the managing company for Facebook’s African content moderators. The lawsuit seeks financial compensation, standard Facebook healthcare, and unionisation rights for all moderators in Kenya. 6. UBER RECORDS 1 BILLION RIDES IN AFRICA In May, American ride-hailing giant Uber announced that it had [completed 1 billion rides]( and over 10 billion kilometres in terms of distance covered across all its markets in Africa. In more news about Uber’s moves on the continent, the company is also looking for an [out-of-court settlement]( for the lawsuit levied by its Kenyan drivers. GROW WITH INTERCOM Intercom's platform helps you engage and support your users through personalised chat-like experiences, with over 25,000 companies using it every single day. If you’re an early-stage, high-growth start-up, you can get access to its Early Stage Academy today at a 95% discount! [Join the program today](. This is partner content. 7. SWVL IS LAYING OFF 400 EMPLOYEES About 15,000 tech employees across the globe lost their jobs in May. A lot of these layoffs have been outside Africa, but right at the end of the month, Egyptian-born bus-hailing company Swvl [announced that it would be laying off 32%](—about 400 people—of its workforce. The company also announced voluntary salary cuts for senior management and reduced overhead costs. 8. ETHIOPIA LAUNCHES 5G TESTING There are at least 18 countries testing 5G in Africa, and 6—South Africa, Kenya, Mauritius, Botswana, Zimbabwe, and Seychelles—have already deployed the services. In May, Ethiopia became the 7th African country to launch 5G after state-owned telecoms Ethio Telecoms [announced that it had piloted 5G]( across the country’s capital, Addis Ababa, with technology developed by Huawei Technologies. 9. UGANDA SAYS NO TO CRYPTO The Ugandan government reaffirmed its [2019 stance]( on the subject of cryptocurrencies. The Bank of Uganda (BoU) issued [a warning]( to all payment service providers, letting them know that any form of crypto trading in the country would be considered an illegal act. This is understandable as Ugandans have [reportedly]( lost $1 billion to crypto-related scams from 2018 to date. The ban is probably not the best way forward, but it is what it is. 10. WHATSAPP OPENS UP ITS API In May, the world’s biggest messaging service WhatsApp opened up its API with the launch of [WhatsApp Cloud API](. What does this mean? Well, it means all businesses, big and small, can create business profiles, and automate messages that keep customers satisfied while freeing up time for business owners. EARN WITH TROVE [Trove]( Get up to [$5,000 in bonuses]( when you deposit new money with Trove. At Trove, we believe the reward for new money is more money. [Download]( the Trove App, get depositing and keep enjoying those bonuses. This is partner content. OPPORTUNITIES - develoPPP Ventures is offering €100,000 ($107,831) grants to high-potential startups from Ghana, Kenya, and Tanzania. Young high-growth startups with less than €2 million ($2.15 million) in funding so far can [apply for the grant here](. - The Growth Handbook by Olabinjo Adeniran is a curation of growth, sales, product, design and marketing lessons from over 20 experienced operators working at the most impactful fintech startups in Nigeria. Preorder and learn [how to scale your startup](. - The Last Mile Money Startup Accelerator is now open to ventures working at the intersection of last-mile users and financial empowerment. Selected startups will receive design support, access to Last Mile Money's network, and up to $50,000 in equity-free grants. [Apply here](. What else we're reading - Digital Africa is [supporting African entrepreneurs with bridge funding]( and impact programs. - Adesuwa Rhodes: “Women don’t need more seats at the table, [we need to create our tables](.” - Unlocking the [billion-dollar carbon credit market]( for Africa’s cleantech startups - Meet the South African founders who just [raised $2 million for building a school on WhatsApp]( - Elon Musk reportedly declares [remote work “no longer acceptable” at Tesla](. - Slack adds [audio name pronunciations]( to user profiles. - TikTok is giving some users a [less cluttered viewing experience](. SIGN UP FOR ZIKOKO'S #NAIRALIFE NEWSLETTER PLEASE SHARE TC DAILY - - - - - mailto:info@example.com?&subject=&body= Written by - [Timi Odueso]( Edited by - [Kelechi Njoku]( Advertise To advertise with us, send an email to [ads@bigcabal.com]( [Unsubscribe from TC Daily](