The Daily Brief: Kenyan logistics firm Bwala Africa raises $230K, and more.

It is a new month, and a lot of activity has happened across the continent. This includes Bwala Africa raising $230K for local expansion, and much more news. Here are the top 5 stories of the day.

1. Kenyan logistics firm Bwala Africa raises $230K for local expansion

Bwala Africa Group, a Kenyan last mile logistics platform launched in January in Nairobi has raised Ksh 23,000,000 ($230,000) in debt financing from South African-based bank CFC Stanbic to meet the rising demand for last mile fleet connectivity. The firm has recorded over 6000 deliveries in Nairobi. Full story on Tech Moran.

2. There are 49 loan apps in Kenya - FSD Report

According to the report, digital lending market share in Kenya is led by M-Shwari at 29%. It is followed by KCB M-Pesa at 12%, Equity Eazzy at 4%, Tala at 1.8%, and MCo-op Cash at 1.3 %. Full story on Kenyan Wall Street.

3. Pitch perfect, a Ugandan online show focused on innovators, launches

Pitch Perfect, an online show featuring entrepreneurs pitching their solutions, started by a call for applications from entrepreneurs and innovators in all sectors. These stood a chance to win $1,000 as the prize. Full story on Digest Africa.

4. MTN Nigeria’s IPO in doubt over latest fine

Plans to list MTN Nigeria on the local stock market could be threatened by yet a new controversy. This is regarding a sum of over $8 billion which MTN reportedly repatriated from Nigeria with the help of 4 local banks - Standard Chartered Bank, Citibank Nigeria Limited, Stanbic IBTC Bank Limited and Diamond Bank Plc. Full story on IT News Africa.

5. Can a tech hub succeed outside Kampala? Hive Colab’s story in Mbarara.

"The number of tech hubs has since significantly grown. Most of the tech hubs are located in Kampala. The reasons for this are quite easy to figure out." Full story on Sauti Tech.

That’s it for today. Don’t forget to subscribe to our newsletter to get The Daily Brief in your inbox.

– Douglas

Digest Africa

CONTACT

info@digestafrica.com

Digest Africa Technologies Ltd
Ntinda Complex,
Block B, Level 3 Ntinda,
Kampala, Uganda

© Digest Africa Technologies Ltd 2019.
All Rights Reserved.