The Daily Brief: BeneFactors raises $150K, L’Oréal invests in Partech

From BeneFactors raising $150K pre-seed funding, Wala's plans to finance a Ugandan solar programme with digital currency to Africa's internet censorship here’s a round-up of today’s activity.

Rwanda’s BeneFactors Raises USD 150K In Pre-seed Funding

Within one year of its launch, BeneFactors, winner of Rwanda’s Seedstars challenge last year has been able to break even catching the attention of several institutional angel investors and private individuals who have put together USD 150K  pre-seed funding to help them improve their internal operations. Full story on WeeTracker.

L’Oréal invests in Partech Africa Fund

L’Oréal has invested Partech Africa Fund, an investment fund launched early 2018 within Partech, and dedicated to the development of “Tech” projects in Africa.

This investment is an addition to L’Oréal’s previous investments in venture capital funds (Partech International Ventures, Founders Factory, Raise Investissement). Full story on Tech Moran.

SA’s Wala to finance Ugandan solar programme with digital currency

South African startup Wala has partnered CleanPath Emerging Markets (CP-EM) Uganda, which is developing a gigawatt-scale solar programme to create a blockchain-enabled clean energy economy, to use its digital currency Dala as the principle transactional currency. Full story on Disrupt Africa.

Kenya tops in mobile money penetration globally

According to a report by Citi Research, more than 70 percent of Kenyan adults used mobile money in 2017, positioning Kenya at the top of mobile money penetration in the world. Following Kenya are Uganda, Tanzania, and Ghana with 40 to 50 percent mobile money users. Full story on Kenyan Wall Street.

BitPesa, SBI Remit Partner for Cross-Border Payments Between Japan And Africa

BitPesa, a digital foreign exchange and payment platform that leverages blockchain settlement to significantly lower the cost and increase the speed of business payments to and from frontier markets has partnered with Japan’s remittance firm SBI Remit to make it easier for Africans to buy Japanese products. Full story on Tech Moran.

Ethiopia switched off the internet last week, Benin repeals social media tax

Last week, Ethiopia switched off the internet in the Addis Ababa areas. That is according to Chinese News Agency, Xinhua, and Berhan Taye – who leads Access Now’s #KeepItOn campaign against internet shutdowns. In other news, the Benin government announced that they were repealing the social media tax they adopted on July 25, 2018. They tweeted the announcement on September 22, with a promise to issue a formal press release, later. Full story on Digest Africa.

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