Editor’s Note
Amidst the news of fishing out phishing scams, more layoffs and startups exiting markets, a few silver linings peek: Zambia says y’ello to 5G, SA regulates crypto exchanges, Abuja gives Nigerian telcos a huge discount and Kenya recognizes smartphones as legitimate work tools for journalists.
These, and more interesting stories from the tech ecosystem are in this week’s edition of TC Weekender. Happy reading!
SafeBoda has left the shores of Nigeria. Despite its impressive launch in Ibadan, the ride-hailing startup is leaving the country because the Nigerian market has become “unprofitable”. This is the second time SafeBoda is exiting a market—it left Kenya in 2020.
After three years of operation in Pakistan, mobility company, Swvl, has closed down its Pakistan offices. Pakistan is the Dubai-and-Egypt-based company’s second-largest market, but it appears this exit is part of its plans to turn cash-flow-positive before 2023.
Electric mobility startup, NopeaRide, has ended its journey in Kenya. The startup pioneered electric mobility in the country and also operated the largest electric vehicle charging network in East Africa. It is shutting down due to the inability to secure more funding.
National Startup Investment Fund (NASIF) has been discovered by the Nigeria Startup Act team as a phishing scheme set up with criminal intent. The Startup Seed Investment Fund proposed by the Act is still in development, and the NASIF advertised on websites like Nairametrics,...
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