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MTN, Airtel dominance forces another telecom operator out of Uganda.

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On September 7, Africell reported its choice to leave Uganda in the wake of working in the East African country for a considerable length of time. The choice saw the U.S-claimed organization become the most recent organization administrator to tap out and leave a market overwhelmed by two dish African telecom behemoths. 

An assertion gave by Africell faults intense rivalry from the neighborhood units of MTN and Bharti Airtel, the two of which represent over 90% of the portion of the overall industry. The excess 10% is parted between three or four other cross country administrators including Africell and Uganda Telecom. 

South Africa-based MTN Group, Africa’s biggest telecoms administrator, entered Uganda in 1998 and has since set up strength on the lookout; to a great extent because of first-mover advantage and critical ventures the business has made in Uganda. 

Airtel, which dispatched 12 years after the fact, has for the most part depended on acquisitions to scale its market position. In the wake of entering Uganda through the acquisition of Zain’s activities, the organization, in 2013, completely obtained Warid Telecom for $100 million; the very first in-country procurement in the area that expanded Airtel’s endorser base by more than half.

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Fin-Tech

Lagos Angel Network appoints new board.

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The Lagos Angel Network (LAN) has named another Board of Governors (BoG) to direct its issues, viable from today October 1, 2021. 

As indicated by a LAN explanation, the new board, led by Kola Aina, General Partner at Ventures Platform, has the command to reposition the association with an emphasis on enrolling and teaching nearby private backers and advocating support for beginning phase putting resources into Nigeria. 

Different individuals from the BoG are Biola Alabi, author, Biola Alabi Media, who will sit as Deputy Chair of the BoG; Yemi Keri, prime supporter, Rising Tide Africa; Olumide Soyombo, fellow benefactor, Voltron Capital; Iyin Aboyeji, organizer, Future Africa; and Gerrad Olisa-Ashar, fellow benefactor, Diaspora Angel Network.

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PaySika secures funds to provide neobank services in francophone Africa

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PaySika, a monetary innovation startup creating versatile and online financial answers for French-speaking African nations, today declared that it has gotten a €300,000 ($348,000) pre-seed venture from private supporters in the French, London, and Nigerian tech startup space. 

Established in 2020 by Roger Nengwe and Stezen Bisselou, PaySika professes to be the principal business-to-client (B2C) neobank in the area that works with a chatbot on well known informing applications, including Facebook Messenger, WhatsApp, and Telegram. As per an organization articulation, this permits clients to do their exchanges as basic as sending a SMS. 

Regardless of the expansion of monetary administrations in Africa over the previous decade, there’s been a tirelessly underserved hole in the francophone part of the mainland. Over 80% of the populace in the area, or more than 120 million individuals, don’t approach bank administrations. 

With business banks for the most part centered around the best 10-20% richest clients, versatile cash arrangements from the district’s telcos and fintech new companies have been critical to stretching out admittance to monetary administrations. At present, over 60% of the populace utilize versatile wallets.

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Eden Life raises $1.4m to digitise house chores.

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Eden Life, a Nigeria-based startup digitizing home help for homes across Africa, has raised a seed round of $1.4 million to increase more portion of the overall industry, carrying its absolute venture to $2 million. 

The venture round was driven by LocalGlobe with cooperation from Africa-centered VCs, Future Africa, Samurai Incubate, Village Global, Rising Tide Africa and Enza Capital. 

Eden Life was established in 2019 by three ex-Andela staff members, Nadayar Enegesi, Prosper Otemuyiwa and Silm Momoh, on a $600,000 pre-seed round from loved ones, to target twenty to thirty year olds and Gen Zs who are too occupied to even consider shuffling house tasks with their positions, particularly those in the tech space.

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