Here’s a brief look at the week’s activity as it has happened across the continent. This includes Jack Ma's visit to South Africa to launch the Netpreneur Prize, South Africa's proposed tax on crypto-currency, and more news.
Here we go:
- Jack Ma to Donate US$10m for Africa Entrepreneur Prize
On Wednesday this week, Jack Ma launched the Netpreneur prize at the “Netpreneur: The Rise of Africa’s Digital Lions” conference in Johannesburg, South Africa.
The conference was jointly organized by Alibaba Business School, the Jack Ma Foundation, and United Nations Conference on Trade and Development (UNCTAD)
The Netpreneur prize’s mission is to “encourage young Africans to bring forward solutions for Africa and the future through entrepreneurship”.
2. South African Revenue Service Proposes Cryptocurrency Tax Regulations
The South African Revenue Service (SARS) has recommended draft regulations that will guide how cryptocurrency tax will be applied in the country.
In April this year, SARS introduced cryptocurrency tax laws requiring South Africans to pay income and capital gains taxes.
3. First Ever Full Electric Cab, Nopia Ride Launched in Nairobi
Electric mobility company EkoRent Africa launched Nopia Ride, a full electric mobility service in Nairobi, Kenya. “We have now launched our zero-emission electric transportation service pilot in Nairobi,” reads a statement on their website.
Joining a highly competitive industry, Nopia is employing the same book-ride-and-pay formula. Users will download the Nopia Ride mobile app to locate and book vehicles.
First Ever Full Electric Cab, Nopia Ride Launched in Nairobi - Digest Africa
4. Ecobank names 11 African startups as fintech challenge finalists
Ecobank has listed the final eleven startups that will grace the second edition of the bank’s annual Fintech Challenge in Lome, Togo. A statement issued revealed that the list includes startups from across the African continent and Europe.
These are; Lypa (Kenya), Wallet.ng (Nigeria), Nala (Tanzania), Litee (Benin), SESO Global (South Africa), InvestED (Sierra Leone), Secapay (Nigeria), Virtual Identity (South Africa), and MojiPay (Togo).
While those from Europe are Eversend (France), and Awamo (Germany).
Ecobank names 11 African startups as fintech challenge finalists - Digest Africa
5. Jibu is now in the Democratic Republic of Congo
Jibu, a franchising social enterprise, is expanding to the Democratic Republic of Congo. “We will open Jibu drinking water franchises in Bukavu and Goma in the DRC in August 2018,” Audrey Royston, the M&E at Jibu, wrote in an email.
This expansion follows the company’s closure of a $7 Million Series B financing round at the end of 2017. The figure brings the total amount of funding raised to $10 Million
Jibu wants to reach 1,000 drinking water franchises in a dozen more countries in four years time.
Jibu is now in the Democratic Republic of Congo - Digest Africa