The Daily Brief: Kenya's RideSafe to Receive $140,000 in funding, and more news

Here’s a brief look at the day’s activity as it has happened across the continent.

Social media giant Facebook has warned that it will hold back its planned investment in Uganda’s infrastructure due to the country’s recent imposition of tax on the use of social media.

Facebook holds back planned investments following Uganda’s social media tax imposition - TechMoran

2. Kenya’s RideSafe to receive $140,000 in funding from Aeternity Starfleet Incubator

Earlier this year, ‘insuretech’ mobile-based platform RideSafe participated in the Aeternity Starfleet Incubator, which is specially designed to empower startups that seek to leverage blockchain technologies.

From an initial round of 60 participants, RideSafe qualified for the shortlist of 17 teams, among which Vite and Utu were the only other African startups to participate.

Another Kenyan startup, UTU Technologies, is also set to get funding from the blockchain accelerator having made it to the final cohort of the program alongside RideSafe.

RideSafe to Receive $140,000 Fund from Aeternity Starfleet Incubator - WeeTracker

3. South Africa Proposes Draft for Cryptocurrency Tax

The South Africa Revenue Service (SARS) has put forward a suggestion to tax income generated from cryptocurrency trading and operations. Cryptocurrencies will continue to be treated as intangible assets and thus will continue to be subject to income tax.

This means that South Africans will have to declare their cryptocurrency profits and/or losses when they declare their taxable income.

Interestingly, South Africans welcomed this move as it assured them of government support in the use of cryptocurrencies, the opposite of what other African countries have been doing.

South Africa Proposes Draft for Cryptocurrency Tax - TechWeez

4. Opera plans to add a cryptocurrency wallet to its desktop browser

Opera becomes the first major desktop browser to include a cryptocurrency wallet, negating the need for third-party extensions or applications.

The desktop wallet (which supports Ethereum, its tokens, and collectibles) synchronizes with the cryptocurrency wallet integrated into the Android version of Opera since June of this year.

When a user wishes to send a payment, they sign transactions using their phone’s built-in fingerprint reader, rather than typing out a long passphrase.

Opera plans to add a cryptocurrency wallet to its desktop browser - The Next Web

5. Alibaba founder Jack Ma to visit all African countries in 15 years

Billionaire Alibaba Founder and Executive Chairman, Jack Ma, launched the Jack Ma Foundation Netpreneuer Prize yesterday in Johannesburg, South Africa.

The prize is a $10 Million grant that will be won by small businesses working to grow the continent’s digital economy. These will compete for $1 million in prize money every year for the next 10 years.

During his speech, Jack Ma gave all indications that he is now ready to bet on Africa and for the long term. This is despite the fact that he had no interest in the continent a few years ago.

Alibaba founder Jack Ma to visit all African countries in 15 years - Digest Africa

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