It's been a busy Monday across the continent. From Enova Robotics raising funding, the crypto fuss in Zimbabwe to Naspers' announcement that is ready to list its video entertainment arm, MultiChoice, on Johannesburg Stock Exchange. Find all the action below.
1. Zim must invest in cryptocurrency says finance head
Zimbabwe's newly appointed Finance Minister Mthuli Ncube said part of his plans to mitigate the country's ongoing cash shortage include pushing the Central Bank to establish a 'cryptocurrency unit' to better position the country to invest. Get the full story on IT Web Africa. In related Crypto and Zimbabwe news, a digital coin has been launched to enable SA-based Zimbabweans to send money back home. Still, IT Web Africa has more.
2. Egypt’s A15 sells its 76% stake in Dubai’s TPAY to Helios
A15, a tech investment fund, has sold a 76% stake in U.A.E. based fintech company TPAY to Helios Investment Partners. Though there were no specific monetary details revealed. But, A15 claims to be the “first fund in the Middle East and Africa which created a Dragon from one of its investments, TPAY.” By definition, a dragon is a company that returns an entire fund — a “fund maker.” While as unicorns are rare, dragons are 4x rarer. Full details on Digest Africa.
3. Luno to open new headquarters in Joburg, hire over 30 staff for the office
SA bitcoin exchange Luno announced today that it will be opening a Johannesburg office. The office will serve as Luno’s regional headquarters for Africa. In a statement today, Luno said in addition to building out the Africa coverage team, the Johannesburg office will also be home to a brand new engineering team. Full details on Ventureburn.
4. The Carlyle Group has completed the acquisition of Uganda’s Abacus
The Carlyle Group has announced its acquisition of Uganda’s Abacus, a pharmaceutical company. There were no Financial terms disclosed. But, the Global Asset Manager pointed out that the deal was made by its Africa-focused fund. Equity for the transaction came from Carlyle Sub-Saharan Africa Fund (CSSAF), which was established in 2012 with $698 million. Full details on Digest Africa.
5. Moroccan healthtech DabaDoc secures undisclosed investment from top insurer
Moroccan healtech DabaDoc has secured an undisclosed investment from the startup’s first institutional shareholder Axa Insurance Morocco. The investment deal is set to enhance DabaDoc’s footprint in its current markets in Morocco, Algeria, and Tunisia. Full details on Ventureburn.
6. Ethiopian Airlines to start accepting payments made via Alipay
Ethiopian Airlines, Africa’s largest aviation group, will start accepting payments made via Alipay. Both companies are looking to target Chinese tourists that are increasingly flocking to the African continent. Full details on Digest Africa.
7. Tunga, a marketplace for software engineers, is expanding to Egypt
Tunga, a marketplace for software engineers, is expanding to Egypt according to Ernesto Spruyt, the founder. The Andela-like startup has 220 developers in its portfolio and has worked with around 100 clients. Full details on Digest Africa.
8. Naspers to list MultiChoice on JSE next year as it eyes Pay-TV exit
Naspers, Africa’s most valuable company, seems to be looking for an exit from pay-TV. According to the statement issued by the company, it will spin off Multichoice next year. The spun-off company will be known as MultiChoice Group. This will include MultiChoice South Africa, MultiChoice Africa, Showmax Africa, and Irdeto. Full details on Digest Africa.
9. Tunis-based robotics startup ‘Enova Robotics’ raises $1.6 million
Enova Robotics, a Tunisian robotics startup has raised $1.6 million investment in what’s the largest-funding round for a Tunisian startup. The investment came from Tunisian investment firm Capsa Capital and valued the company close to $5.4 million. Get full details on Menabytes.
10. Egypt’s ‘E-Commerce Summit’ aims to be the platform for building future of e-commerce in the country
Robusta, a Cairo-based tech agency that is organizing ‘E-Commerce Summit’ later this month in Cairo. The team behind the event that is led by Hussein thinks that there is a real need of having a platform for e-commerce players in the country where they can come together and share their knowledge with each other. E-Commerce Summit plans to be that platform. Full details on Menabytes.
Bonus: Knife Capital's Keet van Zyl explains to Ventureburn why he invests in teams over single founders.
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