April 2019 – Page 3 – Africa Tech Digest

Facebook wants to build underwater cable dubbed ‘Simba’ around Africa

10Apr

By Africa Tech DigestNo Comments

Social Networks

Facebook wants to build underwater cable dubbed ‘Simba’ around Africa

Plans aimed at lowering its bandwidth costs and strengthening link to African market Facebook Inc. is circling Africa. Literally. The company is in talks to develop an underwater data cable that would encircle the continent, according to people familiar with the plans, an effort aimed at driving down its bandwidth costs and making it easier for the social media giant to sign up more users. The three-stage project, named Simba after the lead character in “The Lion King,” could link up with beachheads in several countries on the continent’s eastern, western and Mediterranean coasts, though the exact route and number of landings is in flux, the people said. Facebook spokesman Travis Reed declined to comment on the company’s plans for Africa. “We look all over the world when we c...

Are We Grooming Women Leaders in Africa’s Technology Ecosystem?

9Apr

By Africa Tech DigestNo Comments

Opinion, Trends

Are We Grooming Women Leaders in Africa’s Technology Ecosystem?

Women in technology in Africa do not have the same leadership opportunities as their male counterparts. While there has been an increase in the number of women stepping into technology careers as a result of several training and mentorship initiatives, they are finding it difficult to rise through the ranks. Only three out of ten senior managers in the telecoms, media and technology industry in Africa are women, according to a 2016 report by McKinsey & Company. According to the report, women are less likely to get a promotion. Only about four in ten promotions in private businesses go to women across Africa. There are fewer women as one moves from non-management roles to senior management roles. Women across Africa are defying the odds and taking a seat at the table in the b...

Volkswagen Expansion in Africa With Ride-Hailing App Gains Traction

9Apr

By Africa Tech DigestNo Comments

Apps, Ridehailing

Volkswagen Expansion in Africa With Ride-Hailing App Gains Traction

It’s been a year since one of the world’s biggest automotive companies, Volkswagen, bet on tiny and landlocked Rwanda as part of its expansion strategy in Africa. Since the 1950s, the German automaker has assembled cars in South Africa, and later in Nigeria and Kenya. The carmaker’s renewed interest in Africa is driven by the demand for brand new cars propelled by an emerging middle class as well as competition from companies like Toyota, Nissan, and Peugeot who are ramping up production in the continent. In Rwanda, Volkswagen set up a $20 million operation expected to produce up to 5,000 vehicles a year and create about 1,000 jobs. In Kigali, VW also placed a wager on another first for its global operations: ride-hailing services. The project is part of an initiative to use Rwanda ...

Techabal Releases New Report on Health Tech in Nigeria

9Apr

By Africa Tech DigestNo Comments

West Africa

Techabal Releases New Report on Health Tech in Nigeria

TechCabal is pleased to introduce its first paid report, The State of Health Tech in Nigeria. This deeply researched report examines general health indicators and challenges in Nigeria, and then dives into the health tech industry, profiling the innovative startups working to find technology solutions to Nigeria’s health-related problems. The report profiles 75 active and 15 inactive health tech startups across 12 subsectors. It further examines the challenges these startups face, the opportunities in the space and makes actionable recommendations for entrepreneurs, investors and regulators to consider. This report was prepared using both primary and secondary data. We started with publicly available information about the healthcare system and health tech industry in Nigeria. We...

New Africa Tech Company Connects Farmers and Buyers

9Apr

By Africa Tech DigestNo Comments

Agri-tech

New Africa Tech Company Connects Farmers and Buyers

Farmcrowdy Group (FCG), has launched a new subsidiary, Farmgate Africa, a technology-driven agro-trading market place for agriculture commodities in Africa. Led by Kenneth Obiajulu, Co-Founder & Managing Director, Farmgate Africa (FGA) is bridging the gap between rural farmers and processors. Buyers have the opportunity to purchase commodities directly from farming clusters through technology. The Farmgate Africa platform serves to build relationships between local farmers and major processors, aggregating commodities while paying attention to the unique specifications of the buyers. The system allows everyday Nigerians fund the process of buying and selling what farmers have already harvested. This will give every farmer that has produced high-quality farm produce, the opportun...

African tech startups raised $1.163B in equity in 2018

9Apr

By Africa Tech DigestNo Comments

Start-ups

African tech startups raised $1.163B in equity in 2018

African tech startups raised $1.163B in 2018 according to Partech Africa’s 2018 annual report on the financing on the continent confirming the attractiveness of African entrepreneurs and their ability to transform the continent into a global powerhouse. The report covers equity deals in tech and digital spaces, and funding rounds higher than US$200K and lower than US$100 Million. Deals covered are includes African startups only i.e. companies with their primary market in Africa itself. In 2018, 146 African startups raised a total of US$1.163 Billion in equity through 164 rounds, this is a +108% growth YoY, compared to +33% in 2016 and +53% in 2017. This represents x4.2 growth multiple over the last 36 months. “It’s quite simply astonishing. When we started our journey to create t...