Today’s activity stretches from Jumo and Webuycars rounds of funding to Uber’s expansion to Mauritius as well as the ride-hailing company’s interest in acquiring its Middle East competitor, Careem. Find more below;
1. Mobile Money Overtakes Cash in Somalia
The use of mobile money has overtaken use cash in Somalia with over $2.7 Billion being transacted monthly. A report by the World Bank has found that close to 155 million mobile transactions are carried out every month, making the country one of the most active mobile money users in the world. Full details on Kenyan Wall Street.
2. WorldRemit integrates with the WhatsApp Business Solution for Instant Notifications
Digital money transfer company WorldRemit has added WhatsApp notifications to its service. Through its integration with the WhatsApp Business solution, customers who use WhatsApp to chat with family and friends can now also receive instant notifications on the status of their transactions. Full details on TechMoran.
3. Uber apparently wants to acquire Careem for around $2B to $2.5B
Rumors of Uber acquisition of Careem won’t go away, even when the Egyptian Competition Authorities warned them against any mergers. Bloomberg first reported in July that Uber was looking to merge with its fiercest Middle East rival. Yesterday, Bloomberg reported again that the two are in advance talks. Though, it has pointed out that the acquisition will be in the range of between $2 billion to $2.5 billion. Full details on Digest Africa.
4. Uber continues with expansion across Africa. Next stop is Mauritius
Uber is expanding to Mauritius, an Indian Ocean island nation known for its beaches, lagoons, and reefs. That is according to a job advert on the company’s website. Uber is looking for an individual, whose title is Country Lead. Full details on Digest Africa.
5. Cape Town-based Jumo closes $52M from Goldman Sachs
Jumo, a company that offers loans to the unbanked in Africa, has closed $52 million in a venture round according to TechCrunch. Goldman Sachs led the round, though, there was participation from existing backers. This includes Proparco, Finnfund, Vostok Emerging Finance, Gemcorp Capital, and LeapFrog Investments. Full details on Digest Africa.
6. Naspers has invested $94M in SA’s Webuycars through OLX Group
Naspers has today announced that it made an investment in South Africa Webuycars, a specialized car buying service. The investment was through Naspers’ Classifieds business, OLX Group. Full details on Digest Africa.
That’s it for the day. Don’t forget to subscribe to our newsletter to get The Daily Brief in your inbox.