WeeTracker

🌍 This week in The African Context: ⚡ Takealot faces rising competition from Amazon and Temu in South Africa, while Netflix dismisses exit rumours and reaffirms its Nigeria strategy. ❇️ Explore how China's USD 51 B investment and zero-tariff policy aim to reshape Africa-China ties and dive into Kenya’s BNPL sector debate. 📌 African DeepTech funding reaches USD 1.2 B with AI tackling youth unemployment, and Moove’s landmark partnership with Waymo drives its global expansion. Stay ahead with the latest updates shaping Africa’s business and tech landscape! #TheAfricanContext #AfricaNews #AfricanBusinessUpdates #AfricanTechInnovation

2024 African Startups Review: Unpacking Key Trends and Events – Part 2 (Edition 5) In November 2024, Nigeria introduced new tax regulations set to take effect in January 2025. One in effect, it will mandate startups to deduct taxes at the point of payment, adding administrative complexity to an already tough business environment. Non-compliance carries steep penalties, and while small businesses are exempt under certain conditions, the rules reflect a tightening regulatory landscape for Nigeria’s tech sector. Startups will need to adapt quickly in the coming year to stay competitive. To catch up on the update: https://ow.ly/yBzx50Umm13 #TaxPolicy #Startups #NigeriaTech #BusinessRegulation #AfricanInnovation

2024 African Startups Review: Unpacking Key Trends and Events – Part 2 (Edition 4) South Africa’s Declining Startup Scene Spurs Reform Calls Once a leader in Africa’s tech space, South Africa has seen its startup ecosystem face a decline in 2024. Venture funding has dropped sharply, with the country slipping to 4th place in Africa’s rankings. Entrepreneurs are calling for a Startup Act, pointing to successful reforms in Tunisia and Senegal. Without swift action, South Africa risks falling behind emerging ecosystems like Ghana, which is finalizing its Startup Bill. To catch up on the update: https://ow.ly/yBzx50Umm13 #StartupEcosystem #PolicyReform #Innovation #TechLeadership #SouthAfrica

2024 African Startups Review: Unpacking Key Trends and Events – Part 2 (Edition 3) South Africa’s E-Commerce Shake-Up This year saw global giants disrupt South Africa’s e-commerce sector. Temu launched in January, and Amazon followed with its May soft launch of Amazon.co.za. The impact was immediate with local players like Takealot selling its fashion arm, Superbalist, by September. Nigeria's Jumia also exited the market entirely in October. With fast delivery models and aggressive pricing, global entrants began dominating the landscape, leaving South African e-commerce at a crossroads. To catch up on the update: https://ow.ly/yBzx50Umm13 #Ecommerce #Disruption #GlobalRetail #SouthAfrica

2024 African Startups Review: Unpacking Key Trends and Events – Part 2 (Edition 2) Nigeria and Binance: A Crypto Standoff 2024 saw a dramatic standoff between Binance, the world’s largest cryptocurrency exchange, and the Nigerian government. The saga included the detainment of two Binance executives in February and accusations of facilitating USD 26 B in illicit financial flows. By October, the charges were dropped, but the episode highlighted the growing pains of regulating crypto in Africa. To catch up on this update: https://ow.ly/yBzx50Umm13 #Cryptocurrency #Blockchain #Fintech #Regulation #Nigeria

2024 African Startups Review: Unpacking Key Trends and Events – Part 2 (Edition 1) The End of Copia Global: A Decade-Long Journey Ends in Liquidation This year, Copia Global closed its doors after a decade of serving rural and peri-urban communities in Kenya. The company, known for its innovative e-commerce model, entered administration in May 2024, bringing in KPMG experts to restructure. Despite laying off over 1,060 employees and implementing cost-saving measures, Copia ultimately opted to liquidate its assets and pay creditors in July. A sobering reminder of the challenges faced by startups in emerging markets. To catch up on the update: https://ow.ly/yBzx50Umm13 #Ecommerce #StartupChallenges #Innovation #KenyaStartups

While Moove's recent global push signals ambition, it also highlights the operational and economic headaches the startup has faced on its home turf where clashes with drivers and financial barriers have made profitability elusive.

2024 African Startups Review: Unpacking Key Trends and Events – Part 2 (Edition 1) This year, Copia Global closed its doors after a decade of serving rural and peri-urban communities in Kenya. The company, known for its innovative e-commerce model, entered administration in May 2024, bringing in KPMG experts to restructure. Despite laying off over 1,060 employees and implementing cost-saving measures, Copia ultimately opted to liquidate its assets and pay creditors in July. A sobering reminder of the challenges faced by startups in emerging markets. To catch up on the update: https://ow.ly/yBzx50Umm13 #Ecommerce #StartupChallenges #Innovation #KenyaStartups

Moove Partners with Waymo to Manage its Autonomous Fleet Operations in the U.S. Nigerian-born mobility startup Moove has announced a partnership with Waymo, Alphabet’s autonomous driving unit, to manage and dispatch Waymo’s driverless vehicle fleets. Moove will oversee fleet operations, including vehicle dispatch, maintenance, and charging infrastructure, ensuring the smooth operation of Waymo’s autonomous taxi service, Waymo One. Meanwhile, Waymo will continue to manage its proprietary autonomous driving technology and customer-facing app. The partnership will begin in Phoenix, Arizona, in 2025 and expand to Miami, Florida, in 2026. The collaboration builds on Moove’s expertise in financing and managing fleets for ride-hailing and logistics drivers. The company, backed by Uber and recently valued at USD 750 M, has completed over 50 million trips under its vehicle financing schemes. Waymo’s established presence in Phoenix includes over 150,000 paid trips and 1 million fully autonomous miles driven weekly, providing Moove with a robust foundation for scaling its operations in the U.S. #Moove #Waymo #AutonomousDriving #MobilityInnovation #RideHailing

BuuPass and Flexpay Partner to Simplify Holiday Travel Planning for Kenyans Kenya’s digital ticketing platform BuuPass - Bus, Train & Flight bookings has joined forces with FlexPay Technologies, a savings-based payment platform, to make holiday travel planning more accessible and affordable. This partnership allows travellers to book tickets early and pay in interest-free instalments over 4-12 weeks. Users can secure travel dates with a small deposit, spreading the balance across weekly or monthly payments. The solution aims to reduce the financial strain of travel, enabling families and groups to avoid last-minute fare increases and high-interest loans. The service is expected to attract frequent travelers and large groups seeking cost-effective travel solutions. With this initiative, BuuPass continues to enhance its leadership in Kenya's travel tech industry, following milestones such as raising USD 1.3 M in funding and expanding to other markets like Nigeria and South Africa. #BuuPass #Flexpay #TravelPlanning #FinancialInclusion