The Daily Brief: Paystack raises $8M, Twiga Foods nails $5M deal, and more

A lot of activity has happened across the continent. From that, which includes Paystack, Google, Safaricom and more, we have filtered those stories that we believe you should know about. Here are the top 5 stories of the day.

1. Twiga Foods Inks Proposed Multimillion Dollar Deal For Distribution Network

Kenya's Twiga Foods is a beneficiary of the $238 million from US’s OPIC (Overseas Private Investment Corporation). These were announced during Kenya's President - Uhuru Kenyatta's - visit to the US. Of this, Twiga Foods is counting $5 million as its own. You can read the full story on TechMoran. A few months ago, OPIC also announced a $5 million debt facility it arranged for Uganda's asset financing startup - Tugende.

2. An infographic of Kenya’s white tech startups executives sparks rage

There is an infographic making rounds on social media of the white executives and founders of some of the prominent Kenyan tech startups like M-KOPA, Lendable, Tala and more. It has got many (Kenyans) enraged and conflicted in their opinions. This is an example of what lack of diversity in an ecosystem leads to. Read the full story on Digest Africa.

3. How Safaricom built an unrivaled communication network & digital ecosystem

This is an outline of some of the factors that have been key to making Safaricom what it is today - the leader in mobile money and telecom services in Kenya. According to the story, "over the [past] 10 years, Safaricom has invested over $250m annually in telecommunication infrastructure and continuous innovations at a faster pace than all its competitors combined." Read the full story on Kenyan Wall Street.

4. Google’s Loon set to launch in Uganda a month after launching in Kenya

After Kenya, Loon is set to launch in Uganda. The announcement was made today by the National Information and Technology Authority of Uganda at an event that was attended by delegates from the authority, Loon, US embassy and other Ugandan government agencies. Get the full story on Digest Africa.

5. Nigeria’s Paystack closes $8 million Series A from Tencent, Stripe, VISA & YC

Payments startup Paystack has raised $8 million in series A funding. This brings its total amount of funding raised to date to at least $10 million. The startup is looking to use the funds to expand to other African countries with Ghana top of their radar. Get the full story on Digest Africa.

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

- Malinz

Digest Africa


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