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Zimbabwean investment firm, InfraCo Africa, partners with Mobility for Africa to deploy 400 electric vehicles 

Xin chào,

Yesterday, Microsoft Teams announced the launch of a new “Communities” feature on Android and iOS devices. 

You can now add events to your community calendar, invite guests, track attendance, and chat with attendees via direct private messenger. 

You can also create and organise groups in your community.

It is available in Microsoft Teams’ free version and on mobile. However, the company says it will be available on desktop soon.

There’s more: In 2023, Microsoft Teams plans to launch SignUpGenius to assist users in organising fundraisers, planning events, recruiting volunteers, and more.

Here’s what I’ve got for you today: 

  • Six ways the CBN’s cash withdrawal limit could benefit Nigeria’s telcos
  • InfraCo Africa partners with Mobility for Africa
  • Fin’s extra $2m funding

6 ways the CBN’s cash withdrawal limit could benefit Nigeria’s telcos

Photo by DALL·E-2022-12-07

Remember I told you about this: CBN reduces withdrawal at ATMs, PoS, to ₦‎20,000 ($27) per day to further cashless policy

While it is unclear how this move will affect agency banking, our Managing Editor, Emmanuel Paul, believes that most fintech companies will benefit.

Then, there are the telcos.

Over the years, Nigeria’s telcos have aggressively pursued market users, but the average revenue generated by each user has been quite low.

Although Nigeria continues to be the largest market for telcos like MTN and Airtel in Africa, their average revenue per user (ARPU) stood at $5 and $3.7, respectively, at the end of 2021.

In his latest article, Emmanuel discusses six ways the Central Bank’s withdrawal limit could benefit telecom and Internet service providers while boosting financial inclusion and cashless payments. 

You can read it here: 6 ways the CBN’s cash withdrawal limit could benefit Nigeria’s telecom companies, from new revenue streams to increased customer penetration

InfraCo Africa partners with Mobility for Africa

Electric vehicle charging

Zimbabwean investment firm, InfraCo Africa, has partnered with a mobility startup, Mobility for Africa, to deploy 400 electric vehicles in the country’s rural areas for $2 million. 

Known as hambas — which means “go ahead” in the local Ndebele language —  the vehicles are solar-powered and assembled in Harare.

Six hundred electric batteries will be produced, and eight charging stations will be installed.

Mobility for Africa says its solutions will improve access to doctors for patients far from health centres and freight transportation to major Zimbabwean metropolitan areas, including Bulawayo, Chitungwiza, Mutare, and Harare.

According to Shantha Bloemen, CEO of Mobility for Africa, “This partnership will enhance the role of rural women as key contributors to economic agricultural productivity, as well as gender equality and climate resilience as enshrined in the United Nations Sustainable Development Goals (SDGs).”

Fin’s $2m extra funding

African credit-led neobank, Finclusion Group, has rebranded to Fin and has raised an additional $2 million in equity financing to expand into new markets in 2023.

The company raised $20 million in pre-Series A debt and equity financing in January 2022, bringing the total funds raised in this round to $22 million.

Leonard Stiegeler led the round and will join the company’s board of directors alongside Sudeep Ramnani and Jai Mahtani.

Fin uses artificial intelligence algorithms to provide financial services to African customers through various credit-focused products.

The startup claims that since its launch in 2018, it has developed consumer-facing credit products to bridge the credit gap in the countries where it operates, which include Tanzania, Namibia, South Africa, Eswatini, and Kenya.

Fin Kenya (formerly TrustGro), Fin Tanzania (formerly Fikia Finance), and Fin South Africa have all been renamed as part of this rebranding — with its products now being SmartAdvance by Fin, NiftyCredit by Fin, NiftyCover by Fin, MediFin and e-Fin.

The company will use the funds to add new, fully integrated territories to its business and develop new offerings, particularly in third-party support for microfinance banks looking to expand their financial services offerings.

What I’m reading and watching


  • Applications are open for the Tech Women Emerging Leaders Programme Fall 2023. Apply here.
  • Applications for the Elites Digital Marketing Training & Recruitment 2023 are now open. Apply here.
  • Applications are open for the Hostwriter Story Prize 2023. It highlights exemplary works of journalistic collaboration. Apply here.
  • Startups in Kenya and Tanzania can get a chance to scale their impact-driven companies and receive a grant investment of up to €100K from the develoPPP Ventures. Apply here.
  • Applications are open for Explore Africa Writing Contest 2022, a project to promote travel information and tourism on the continent. Apply here.

Have a terrific Thursday.

Victoria Fakiya for Techpoint Africa.

This post was originally published on this site

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