AfCFTA Secretary-General to Deliver Keynote at #AFTSNairobi2024, Jumia Raises $99.6M, Tanzania Launches Fintech Regulatory Sandbox, and More
Africa Fintech Summit
The global initiative dedicated to building an ecosystem of investors, pioneers, industry leaders in African Fintech.
What's inside?
? AfCFTA Secretary-General to deliver keynote at AFTSNairobi
? BoT introduces regulatory sandbox framework
? Nigeria may soon introduce crypto regulation?
? Kredete raises undisclosed funding round
AND MORE!
Making the news
The Bank of Tanzania introduces sandbox regulation framework?
"The Bank of Tanzania has been lauded for its commitment to reduce regulatory burdens for financial startups in the country, after introducing a sandbox regulation?framework?for pilot innovators. Sandbox regulations are meant to test innovations and their accompanying models within a controlled environment to ensure consumers are protected and financial stability is maintained in the long run." The Kenyan Wall Street.?
Jumia raises $99.6M in secondary share sale?
"Ten days after it announced it would sell 20 million ordinary shares in a secondary transaction, Jumia ($JMIA) has closed the sale after reaching its funding target.?According to a securities filing seen by TechCabal, the gross proceeds from the sale amounted to $99.6 million. The filing suggests an average share price of around $4.95 per share, slightly above Friday’s trading price of $4.90." Techcabal.?
Nigeria's new tax law set to introduce cryptocurrency regulations?
"The Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, announced that the Federal Government is set to introduce new tax laws by September, which will include regulations for the cryptocurrency industry. Speaking on Saturday at the FIRS 2024 Stakeholders Engagement with the Senate and House of Representatives Committees on Finance in Lagos, Dr. Adedeji highlighted the absence of current legal frameworks governing cryptocurrency in Nigeria, calling?for the urgent need for regulation." Nairametrics.?
Ride-hailing drivers across Africa fighting 'unfair fares'?
"Ride-hailing drivers in Africa’s major cities are increasingly taking matters into their own hands to protest and counter what they deem unfair fares imposed by platforms like InDrive, Uber, Bolt, and Faras. The drivers argue that the rising cost of living, particularly the surge in fuel prices, has made the fares unsustainable." WeeTracker.?
Banking & Telecom Activity
Startup Activity?
Nigeria - Fintech startup Kredete raises undisclosed funding from Launch Africa Ventures to help African immigrants in North America to build credit through remittances
Featured Read ?
Africa’s Renewable Energy Sector Needs Innovative Financing - Ana Hajduka in The Kenyan Wall Street?
"Africa’s renewable energy potential is undeniable, but it remains largely untapped. The problem is that the financing landscape for renewable energy and other projects in Africa was previously reliant on state utilities as buyers. The scale of projects that could be financed in a country were then limited by the fiscal capabilities of that country and the sovereign guarantees it could provide."?Continue reading.?
2024 Startup Funding to Date - WeeTracker
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AFTS community in the news
Long-time AFTS partner Founders Factory Africa rebrands to 54 Collective, alters business model
"54 Collective will evolve from an accelerator to a full-fledged Venture Capital (VC) firm with 70 specialists tasked with collaborating with startup founders in mounting obstacles such as currency devaluation and unfavorable regulation, immanent in the African ecosystem." The Kenyan Wall Street.?
AFTSNairobi Preview
We are delighted to announce that His Excellency Wamkele Mene, Secretary-General of the African Continental Free Trade Area (AfCFTA) Secretariat, will give a keynote address on September 05, 2024, at the 12th edition of the Africa Fintech Summit, taking place at the JW Marriott Hotel in Nairobi, Kenya! ??Find out more about HE Wamkele Mene's keynote.?
17 Days left to AFTSNairobi 2024VERY limited availability | Tickets available in KES, USD or Crypto?via Coinpay
Behind the Venue - JW Marriott Nairobi?
Nairobi's newest 5-star hotel, the esteemed JW Marriott in the Westlands neighborhood is hosting AFTSNairobi. The hotel has only been open for less than 6 months and includes world-class amenities such as a heated pool, several restaurants, and high-tech conference facilities. Fortunately, AFTSNairobi delegates can get discounted stay at the JW through our many year's long partnership with Marriott Hotels. Unlock your discounted stay TODAY!?
Travelling to Kenya for AFTSNairobi!