A $2 million blueprint

Building a digital free zone in Africa                                                                                                                                                                                                                                                                                                                                                                                                                 September 07, 2023 | [Read Online]( Building a digital free zone in Africa In partnership with Share this newsletter: //link.mail.beehiiv.com/ss/c/_p8mO7pBiG6zFvckPDjzaZkxNnUja96KSCTzHXx2gCinQbxw_qdxxuopG-d0baJxAdN5L7OHU5ZQxpp-wRCFTXy9w8I_zIELgRe_S3coUxfgBUrbSqLPq1v57voLCooIeqXH2seXGp6FIruBajcJqLwpYXTX-XkATidyZ1k0wSy7HZkjj4iuAX7b0VokswkbJopzo3jy_0s5riZBuBefNtrAI23VhQ8b78yiJvhzSI4IOcSYsniT4gBTAq1Z9tfGaR8EXDcDfiKx5vA1VYTBoQ/3ze/uSICBl94TU6qkCC3GHpLmA/h2/8F3lXxkZFV8IZOWmgu2os4DTsuTWlkOkyyuBBfy838A [Lire en Français]( [اقرأ هذا باللغة العربية]( Happy pre-Friday The climate finance scene is sizzling hot. The African Development Bank recently launched a fresh [$1 billion fund]( to fast-track climate financing for youth-led businesses across Africa. Don't keep this news to yourself; [share it with your friends.]( In today's edition - [Bolt to deploy $685,000 in Kenya for electric mobility]( - [Itana raises $2 million to build a virtual city]( - [Betting firms in Kenya face additional taxes]( - [Bayobab Group lands long-distance operator license]( - [The World Wide Web3]( - [Event: The Moonshot Conference]( - [Opportunities]( Mobility //link.mail.beehiiv.com/ss/c/_p8mO7pBiG6zFvckPDjzaZkxNnUja96KSCTzHXx2gCinQbxw_qdxxuopG-d0baJxAdN5L7OHU5ZQxpp-wRCFTXy9w8I_zIELgRe_S3coUxfgBUrbSqLPq1v57voLCooIeqXH2seXGp6FIruBajcJqLwpYXTX-XkATidyZ1k0wSy7HZkjj4iuAX7b0VokswkbJopzo3jy_0s5riZBuBefNtrAI23VhQ8b78yiJvhzSI4IOcSYsniT4gBTAq1Z9tfGaR8EXDcDfiKx5vA1VYTBoQ/3ze/uSICBl94TU6qkCC3GHpLmA/h16/-iZmVWjnSQLAg7M4RwSJUDbnckSfYgr3w8IJJ7-tU0Y Bolt to deploy $685,000 in Kenya for electric mobility source: Zikoko Memes Bolt is expanding it fleet of electric vehicles in Kenya. The taxi-hailing company currently has 40 electricity-powered bicycles (e-bikes) being [used for deliveries]( in Nairobi. It plans to deploy at least[KES100 million ($685,000)]( to include electric cars within the next 12 months. Electric partnerships: Per Nation, the company will work with electric car manufacturers and banks to enable the financing of electric vehicles. This coincides with Kenya's renewed efforts to embrace e-mobility; the country has set up a task force to develop a roadmap and potential economic incentives like tax breaks to boost the adoption of electric mobility. Zoom out: As the worldwide automotive industry plans to transition toward electric vehicles, the Kenyan government has [unveiled](plans to roll out electric motorbikes across the country. Last week, Uber also [launched](an electric motorcycle in Kenya—One Electric— but is only available in Nairobi for now. 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](. Funding //link.mail.beehiiv.com/ss/c/_p8mO7pBiG6zFvckPDjzaZkxNnUja96KSCTzHXx2gCinQbxw_qdxxuopG-d0baJxAdN5L7OHU5ZQxpp-wRCFTXy9w8I_zIELgRe_S3coUxfgBUrbSqLPq1v57voLCooIeqXH2seXGp6FIruBajcJqLwpYXTX-XkATidyZ1k0wSy7HZkjj4iuAX7b0VokswkbJopzo3jy_0s5riZBuBefNtrAI23VhQ8b78yiJvhzSI4IOcSYsniT4gBTAq1Z9tfGaR8EXDcDfiKx5vA1VYTBoQ/3ze/uSICBl94TU6qkCC3GHpLmA/h26/lZxinAtznXUqRtXNzruCURuUk69mtbOCKdnmI1zif5A Itana secures $2 million to build a digital free zone [Itana's founders](Image source: TechCabal [Itana](, formerly Talent City, has raised $2 million in a pre-seed round to build a digital city. The round was led by [LocalGlobe](,[Amplo](,[Pronomos Capital](, and[Future Africa](. Founded by ex-Andela and Flutterwave co-founder Iyinoluwa Aboyeji, Luqman Edu, and Coco Liu, Itana said the funding will be used to build a digital free zone in Africa. Sidebar: A digital free zone typically refers to a specific geographical area or region where various digital businesses are exempt from certain taxes, regulations, or restrictions. Itana says its other incentives include business visas, banking, capital repatriation, supportive legislation for businesses, and insulation from all effects of socio-economic instability in Nigeria. ICYMI: Last year, Itana [launched](a digital residency program for people to try out the e-governance system, global connectivity, and the promise of a strengthened digital economy in Africa. It also [partnered with Binance]( and the Charter Cities Institute to build a 72,000-square-meter charter city to house 1,000 residents and 2,500 remote workers. The digital free zone will serve businesses that are mostly online without requiring them to have an extensive physical presence in the physical free zones in Lagos, Nigeria. Zoom out: Another initiative, [Silicon Zanzibar](, is also making its move to lure both local and international African innovators back to the continent. It does not have a snazzy digital persona like Itana or [Afropolitan](—another digital society—but it shows innovators are still trying to create a hub for innovation in Africa. Policy //link.mail.beehiiv.com/ss/c/_p8mO7pBiG6zFvckPDjzaZkxNnUja96KSCTzHXx2gCinQbxw_qdxxuopG-d0baJxAdN5L7OHU5ZQxpp-wRCFTXy9w8I_zIELgRe_S3coUxfgBUrbSqLPq1v57voLCooIeqXH2seXGp6FIruBajcJqLwpYXTX-XkATidyZ1k0wSy7HZkjj4iuAX7b0VokswkbJopzo3jy_0s5riZBuBefNtrAI23VhQ8b78yiJvhzSI4IOcSYsniT4gBTAq1Z9tfGaR8EXDcDfiKx5vA1VYTBoQ/3ze/uSICBl94TU6qkCC3GHpLmA/h39/IBGmbS98sczQHujn9Ca62vWrVYUmTpKi3fyq-0buznE Betting firms in Kenya face additional taxes [A gunfight](Image source: Zikoko Memes Kenya’s betting regulator, Betting Control and Licensing Board (BCLB), [has proposed a new gambling tax](in the country. Betting firms will now pay 15% of their gross gaming revenue and 1% monthly levy. This is in addition to existing requirement to withhold 20% of the winnings paid out to bet makers. Why? Betting is a lucrative industry in Kenya, and it looks like the more the government taxes the firms, the more money the betting firms make. Last year, the Kenya Revenue Authority [gained abou](t KES6.64 billion ($44 million) in excise taxes from the the KES88.5 billion ($605 million) bets Kenyans placed in 2022, up from KES5.1 ($34 million) billion gained in the previous year. Zoom out: The government is set to launch its own betting firm, National Lottery. It is expected to generate KES34.52 billion ($238 million) in taxes. The country will [channel](the bulk of the new gambling taxes to be channelled to the Sports Fund. Unlock new opportunities for your business 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 mailto:info@vesicash.commailto:info@vesicash.com mailto:info@vesicash.com mailto:info@vesicash.com [Telecom](mailto:info@vesicash.com) mailto:info@vesicash.com//link.mail.beehiiv.com/ss/c/_p8mO7pBiG6zFvckPDjzaZkxNnUja96KSCTzHXx2gCinQbxw_qdxxuopG-d0baJxAdN5L7OHU5ZQxpp-wRCFTXy9w8I_zIELgRe_S3coUxfgBUrbSqLPq1v57voLCooIeqXH2seXGp6FIruBajcJqLwpYXTX-XkATidyZ1k0wSy7HZkjj4iuAX7b0VokswkbJopzo3jy_0s5riZBuBefNtrAI23VhQ8b78yiJvhzSI4IOcSYsniT4gBTAq1Z9tfGaR8EXDcDfiKx5vA1VYTBoQ/3ze/uSICBl94TU6qkCC3GHpLmA/h48/rm9AlsFcK265BaGfintq-NYYfwN2DQfruWOfoUwcfHU Bayobab Group lands long-distance operator license source: TechCabal Bayobab, previously known as MTN GlobalConnect, has received [regulatory approval]( in Nigeria for its National Long-Distance relationship (NLD) Operator License. What is an NLD licence? It is a licence that allows operators to provide long-distance voice and data services within Nigeria more accessible even in villages where there are little to no telecommunications infrastructure. Sidebar: In 2018, MTN Nigeria and Huawei [commercially deployed]( a similar low-cost long-distance voice and mobile broadband services for remote local rural areas. Zoom out: The NLD license is a significant opportunity for the company to grow its business and contribute to the development of Nigeria's digital economy. Crypto Tracker //link.mail.beehiiv.com/ss/c/_p8mO7pBiG6zFvckPDjzaZkxNnUja96KSCTzHXx2gCinQbxw_qdxxuopG-d0baJxAdN5L7OHU5ZQxpp-wRCFTXy9w8I_zIELgRe_S3coUxfgBUrbSqLPq1v57voLCooIeqXH2seXGp6FIruBajcJqLwpYXTX-XkATidyZ1k0wSy7HZkjj4iuAX7b0VokswkbJopzo3jy_0s5riZBuBefNtrAI23VhQ8b78yiJvhzSI4IOcSYsniT4gBTAq1Z9tfGaR8EXDcDfiKx5vA1VYTBoQ/3ze/uSICBl94TU6qkCC3GHpLmA/h54/9DWz9JY01Giid3QPyMwISdXHZByOESdAtNhi5aVkxHI The World Wide Web3 Source: [Tc_insight] Coin Name Current Value Day Month Bitcoin $25,719 + 0.00% - 11.76% Ether $1,629 + 0.43% - 11.09% BNB $215 + 0.33% - 11.33% Cardano $0.25 + 0.23% - 11.71% * Data as of 12:22 AM WAT, September 7, 2023. Elevate your business with One Liquidity's seamless integration. Choose from 10+ services to craft a custom solution. Join Obiex, Wewire, and others in providing trading, liquidity & compliance services. [Start now with zero upfront fees](. One integration. One solution. One Liquidity. Events 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 birds ticket now. [Get your ticket today.]( Opportuinities //link.mail.beehiiv.com/ss/c/_p8mO7pBiG6zFvckPDjzaZkxNnUja96KSCTzHXx2gCinQbxw_qdxxuopG-d0baJxAdN5L7OHU5ZQxpp-wRCFTXy9w8I_zIELgRe_S3coUxfgBUrbSqLPq1v57voLCooIeqXH2seXGp6FIruBajcJqLwpYXTX-XkATidyZ1k0wSy7HZkjj4iuAX7b0VokswkbJopzo3jy_0s5riZBuBefNtrAI23VhQ8b78yiJvhzSI4IOcSYsniT4gBTAq1Z9tfGaR8EXDcDfiKx5vA1VYTBoQ/3ze/uSICBl94TU6qkCC3GHpLmA/h61/huuIJnFC-vNMzyyCB1ghRRnOisnlhrRFoxWEHUI7fVI - Want to build a successful tech business? Sign up for this 5-week training programme and gain access to resources worth over $15,000. [Apply by September 10.]( - If you are an aspiring economist entering your first year of undergraduate studies in the 2024 academic year, the South African Reserve Bank’s (SARB) Economic Research Department in collaboration with the SARB Academy, invites you to apply for competitive SARB bursaries in the field of economics, economics and econometrics, economics and mathematical statistics and economic science. [Apply by September 30](. What else we are reading - [Climate change pushes Kenya close to the edge]( - [Can carbon offsets fix Africa’s climate finance crisis?]( Written by - [Mariam Muhammad]( & [Faith Omoniyi]( Edited by - [Noah Banjo]( [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](