Airtel Uganda eyes $215 million in IPO

The IPO will value the telecom at $1 billion                                                                                                                                                                                                                                                                                                                                                                                                                 August 30, 2023 | [Read Online]( The IPO will value the telecom at $1 billion In partnership with Share this newsletter: //link.mail.beehiiv.com/ss/c/_p8mO7pBiG6zFvckPDjzaZkxNnUja96KSCTzHXx2gCinQbxw_qdxxuopG-d0baJxAdN5L7OHU5ZQxpp-wRCFTXy9w8I_zIELgRe_S3coUxdpBQGNNNzIzrCXYtRupWKqo7bH2Xownrdsw3mo1kno_DZFDNXwmtVy3Sy4igipFJ3jXTsOHMqfJykdkGu7cl71vPzx47rhpqMf53VCKChrqg/3z6/DKBm0sWaTJG20VWhF3_qoA/h2/WHBRFBl0hOJqp5_3Py_2sUpc4NanEd1cdZLneMvnfzY [Lire en Français]( [اقرأ هذا باللغة العربية]( Good morning ☀️ We’ve got news. After two iterations, we’re unfortunately discontinuing our referral programme. We launched the referral programme in October 2022—and relaunched in June 2023—to reward TC Daily readers, but we’ve hit too many snags to continue the service. All valid rewards accomplished by August 31 will be fulfilled by September 30. So if you’ve been referring readers to TC Daily, and have qualified for a reward, we’ll be in touch. In today's edition - [Kenya calls for comments on new Act]( - [Airtel Uganda moves to raise $215 million from IPO]( - [Nigeria to develop AI strategy]( - [Elon Musk’s alma mater gets funding]( - [The World Wide Web3]( - [Event: The Moonshot Conference]( - [Opportunities]( Legislation //link.mail.beehiiv.com/ss/c/_p8mO7pBiG6zFvckPDjzaZkxNnUja96KSCTzHXx2gCinQbxw_qdxxuopG-d0baJxAdN5L7OHU5ZQxpp-wRCFTXy9w8I_zIELgRe_S3coUxdpBQGNNNzIzrCXYtRupWKqo7bH2Xownrdsw3mo1kno_DZFDNXwmtVy3Sy4igipFJ3jXTsOHMqfJykdkGu7cl71vPzx47rhpqMf53VCKChrqg/3z6/DKBm0sWaTJG20VWhF3_qoA/h14/IUEW9emuYvemF9pkpA4uAPxMxrjGpvj0PpajEbnEP8o Kenya calls for comments on new Act s flag The Kenyan government is seeking public input in its cybersecurity regulations. The cabinet secretary for interior and national security, Prof Kithure Kindiki, is [inviting comments from the public]( on the Computer Misuse and Cybercrimes Act 2023 draft, which was formulated by a task force appointed by the ministry. [The draft regulations]( primarily focus on providing a framework to monitor, detect, and respond to cybersecurity threats, protecting critical information infrastructure, and providing recovery plans in the event of a cyber attack. How to submit comments: The public is invited to submit their comments and submissions via email or to hand deliver them to the task force secretariat at Harambee House. The call for submissions runs from August 29 to September 19, 2023. The task force is also proposing to establish a National Public Key Infrastructure (NPKI), which would be used to verify the online identities of individuals or institutions. Furthermore, the task force intends to organise inclusive public participation forums in [different regions](nationwide. The public participation phase is an important step in ensuring that the final regulations are comprehensive and effective. Zoom out: The draft regulations are a welcome development in light of the increasing number of cyber-attacks in Kenya. In July this year, Anonymous Sudan, a pro-Russian hacktivist group, took responsibility for a [Distributed Denial-of-Service (DDoS) attack]( that intermittently took websites belonging to Kenyan media, hospitals, universities, and businesses, including Safaricom, offline. The hackers claimed to be exacting revenge on behalf of the Sudanese regime Get a working card from Moniepoint With the Moniepoint personal banking app, you get reliable payments every time and a card that always works. Enjoy seamless payments powered by the infrastructure that 1.5 million businesses trust. [Download the app](. Telecoms //link.mail.beehiiv.com/ss/c/_p8mO7pBiG6zFvckPDjzaZkxNnUja96KSCTzHXx2gCinQbxw_qdxxuopG-d0baJxIb2tweoBwNAdfBsv2y3sxmjTZQelIN7xPPOilnCDaeyTM8OR6AhXI_JV76QAEUCqP0RTQ91t0sjHWdRZ0MmT_p9lhew84qVW9BWFoqh0nPRIoQkjKM19EILozyNdx2MjBVlhrNuNuHwEyhXLP4JCaA/3z6/DKBm0sWaTJG20VWhF3_qoA/h24/dQKwBAWHxP_pt7Ucs_7b_v3vY_B-ax_rghSOxS5ykt8 Airtel Uganda moves to raise $215 million from IPO source: Zikoko Memes Airtel Uganda is going public. This week, the telecoms announced plans to raise UGX800 billion—-about $215 million in an initial public offering, which would value the telecom at $1 billion (UGX4 trillion). The company is offering eight billion shares, equivalent to 20% of its total stock, on the[Uganda Securities Exchange](, and expects an IPO price of $0.00027 (UGX100) per share, according to an IPO filing Tuesday. The issue opens on August 30, and is scheduled to close on October 13. Trading in the company’s stock is set to begin by October 31. Airtel launched its Ugandan operation in 2010 after taking over Zain Uganda. The company’s beneficial owners are India’s Bharti family through Bharti Enterprises (Holding) Private Limited. The Bharti family is a majority shareholder in several holding companies overseeing Airtel subsidiaries in South Asia and Africa. These include Airtel Africa plc, listed in London, the majority shareholder in Airtel Uganda; it will retain at least 80% of its stake after the IPO. Zoom out: Airtel’s IPO is the first on the local bourse since December 2021, when MTN Uganda, its only major local competitor, was listed. MTN had also sought to sell 20% of the Ugandan operation on the USE – 4.5 billion shares at UGX200 ($0.00054) each – but the issue was[undersubscribed by 40%](. Grow with Vesicash Unlock new opportunities for your business with Vesicash! Seamlessly expand into emerging markets using our secure, all-in-one and cost-effective payment infrastructure. Contact Vesicash via our website [www.vesicash.com]( or reach out to our dedicated team at info@vesicash.com Artificial Intelligence //link.mail.beehiiv.com/ss/c/_p8mO7pBiG6zFvckPDjzaZkxNnUja96KSCTzHXx2gCinQbxw_qdxxuopG-d0baJxAdN5L7OHU5ZQxpp-wRCFTXy9w8I_zIELgRe_S3coUxdpBQGNNNzIzrCXYtRupWKqo7bH2Xownrdsw3mo1kno_DZFDNXwmtVy3Sy4igipFJ3jXTsOHMqfJykdkGu7cl71vPzx47rhpqMf53VCKChrqg/3z6/DKBm0sWaTJG20VWhF3_qoA/h32/1ybSgwqbd-LHfqHnERXqPFf3yaj2Q5FAN2LzLTOSJ70 Nigeria to develop AI strategy Nigeria is developing a national artificial intelligence (AI) strategy. On Monday, Dr Bosun Tijani, the minister of communications, innovation, and digital economy, [shared a whitepaper on Twitter](. The whitepaper outlined the ministry’s plan to harness the potential of AI while addressing the complex challenges it poses. [Screenshot of Nigeria's AI whitepaper](Image source: Twitter/ Bosun Tijani What's the plan? T[he strategy](, divided into two stages, will be co-created with top AI researchers of Nigerian descent from around the world and will focus on ensuring that AI is used in an ethical and inclusive way and that it benefits all Nigerians. The first stage will involve machine-supported decision-making, using predictive models to narrow down potential researchers of Nigerian descent. The second stage will involve crowd-sourcing, recognising the possibility of false positives and the importance of wider engagement in refining the list of researchers. The primary objective of this strategy is to build on the foundation that the National Information Technology Development Agency (NITDA) has laid in [developing a national AI strategy](. Zoom out: This is a welcome development and according to Tijani, “Nigeria aims to be at the forefront of ethical and inclusive AI innovation, enhancing citizens’ welfare and expanding opportunities for all.” Funding //link.mail.beehiiv.com/ss/c/_p8mO7pBiG6zFvckPDjzaZkxNnUja96KSCTzHXx2gCinQbxw_qdxxuopG-d0baJxAdN5L7OHU5ZQxpp-wRCFTXy9w8I_zIELgRe_S3coUxdpBQGNNNzIzrCXYtRupWKqo7bH2Xownrdsw3mo1kno_DZFDNXwmtVy3Sy4igipFJ3jXTsOHMqfJykdkGu7cl71vPzx47rhpqMf53VCKChrqg/3z6/DKBm0sWaTJG20VWhF3_qoA/h39/xqoylUl0VPhrc9hF9MRYjHCORfOdgrITZJBPzuNdjlQ Pretoria Boys High gets bitcoin-funded solar power [soe students of Pretoria Boys High School in South Africa](Image source: South Africa Online Pretoria Boys High are getting all expense paid power supply. Elon Musk’s old high school in South Africa, Pretoria Boys High, will be [getting solar power infrastructure]( courtesy of an unidentified crypto investor through the Sun Exchange solar leasing platform. The company announced on Tuesday that a Bitcoin investor had used some of his cryptocurrency to fund most of a large solar energy project at the school. “By using the Sun Exchange platform to buy 98% of all solar cells in the project, the individual will earn income for 20 years on the clean energy they generate, while the school gains solar power at zero capital cost,” Sun Exchange stated. In its announcement about the successful crowd sale, Sun Exchange said the 198-kilowatt solar system would cut 5,800 tonnes of carbon over 20 years, equivalent to taking 210,000 petrol cars off the road for a year. Sun Exchange also revealed that the total value raised during the crowd sale was about R2.8 million ($151,612). Zoom out: This new development will reduce the school’s energy bills and its dependency on diesel generators during load-shedding. The solar power system will be roof-mounted and supply over a quarter (26.1%) of the school’s total power consumption. Crypto Tracker //link.mail.beehiiv.com/ss/c/_p8mO7pBiG6zFvckPDjzaZkxNnUja96KSCTzHXx2gCinQbxw_qdxxuopG-d0baJxAdN5L7OHU5ZQxpp-wRCFTXy9w8I_zIELgRe_S3coUxdpBQGNNNzIzrCXYtRupWKqo7bH2Xownrdsw3mo1kno_DZFDNXwmtVy3Sy4igipFJ3jXTsOHMqfJykdkGu7cl71vPzx47rhpqMf53VCKChrqg/3z6/DKBm0sWaTJG20VWhF3_qoA/h44/h8BwMOZBa4KLhtWNHw_IvfACXFhBSG90EXMvt_feoe0 The World Wide Web3 Source: [Tc_insight] Coin Name Current Value Day Month Bitcoin $27,621 + 6.09% - 5.89% Ether $1,729 + 4.86% - 7.99% BNB $227 + 3.93% - 6.23% Cardano $0.27 + 2.52% -12.37% * Data as of 00:05 AM WAT, August 30, 2023. Events Get early-bird tickets for the Moonshot Conference! Early-bird tickets are still selling out fast for Moonshot by TechCabal! If you're an international fan eager to be part of this incredible event, the time has come for you to secure your seat and get an exclusive discount. Be part of the gathering of the most audacious players in Africa's tech ecosystem and get your early-bird ticket now. [Get your ticket today](. Opportunities //link.mail.beehiiv.com/ss/c/_p8mO7pBiG6zFvckPDjzaZkxNnUja96KSCTzHXx2gCinQbxw_qdxxuopG-d0baJxAdN5L7OHU5ZQxpp-wRCFTXy9w8I_zIELgRe_S3coUxdpBQGNNNzIzrCXYtRupWKqo7bH2Xownrdsw3mo1kno_DZFDNXwmtVy3Sy4igipFJ3jXTsOHMqfJykdkGu7cl71vPzx47rhpqMf53VCKChrqg/3z6/DKBm0sWaTJG20VWhF3_qoA/h49/VGnJf-kfNHub9hnOHlDXKL6wcv4jbNSm5euKfu3GfO4 - Exciting news for female entrepreneurs and women-led businesses in Nigeria. It's time to elevate your business through the #NimbusAidProject.Win a share of N40m advertising support to amplify your brand. Apply now at [(. Entries close on September 8, 2023. - Applications are open for the Cambridge Africa ALBORADA Research Fund 2023 for sub-Saharan African Researchers ($20,000 in Grants). The Cambridge Africa ALBORADA Research Fund competitively awards grants between £1,000 and £20,000 for research costs, research-related travel between Cambridge and Africa, and conducting research training activities in Africa. [Apply by September 4.]( - Wise Guys SaaS Accelerator Program is looking to help SaaS startups level up through tailored guidance and support from world-class mentors and experts. [Apply before September 7.]( - If you are a young (no older than 24 years of age) and emerging photographer looking to embark on a career in the world of photojournalism, the Ian Parry Photojournalism Grant 2023 (up to £10,000) is open for Applications. [Apply by August 31.]( What else we are reading - [Can ChatGPT become a content moderator?]( - [Naira devaluation hands Nigeria’s biggest flour producer a $29 million loss.]( - [Google and other big tech companies may be making growth difficult for South African small businesses.]( Share 👨🏿‍🚀TC Daily You can win numerous gifts when you refer family and friends who you know will benefit from the TC Daily newsletter. You currently have 0 referrals, only 10 away from receiving Ebooks and Showmax Subscription Tier 1. [Tier 1]( [Click to Share]( Or copy and paste this link to others: Written by - [Mariam Muhammad]( & [Faith Omoniyi]( Edited by - [Timi Odueso]( [fb]( [tw]( [ig]( [yt]( [in]( Update your email preferences or unsubscribe [here]( © 👨🏿‍🚀TC Daily 18 Nnobi Street Surulere, Lagos 101212, Nigeria [[beehiiv logo]Powered by beehiiv](