The Tanzanian startup with an army of 120 million maggots
Plus, Tinubu's plan for tech in Nigeria
Welcome to Tech Safari!
Your tour guide on African Tech 🧭
Hello to the 132 new folks who have joined the Safari since Wednesday!
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I'm still buzzing from our Founders AMA on Thursday.
Jasiel and Marge were incredible guests and over 940 people tuned in!
If you missed it you can give it a listen here.
And if you want the two minute recap, Marge wrote a brilliant summary thread which you can check out here.
Yesterday @calebmaru@Jasielinvests and I held an AMA for founders building in Africa
We discussed how building in Africa is different from the west
In case you missed it, we discussed the differences in:
— Marge Ntambi (@margentambi)
Mar 2, 2023
We're digging into what happened in African tech this week.
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Alright - today we are recapping what happened in African Tech. Let's dive in!
Liquid Intelligent Technologies has partnered with Microsoft to bring high-speed internet to 20 million underserved people in Democratic Republic of Congo, Tanzania, and Zambia by 2025.
Jumia, the Nigerian e-commerce giant, has been forced to change it’s terms and conditions by the regional watchdog COMESA. Jumia is now liable for purchases of faulty products on it’s platform.
The Central Bank of Kenya has launched DhowCSD - which will lets Kenyan’s (including diaspora) buy treasury bills and bonds online (rather than having to go into the Central Bank).
Sasol, South African energy and chemical giant, has launched a €50 million venture capital fund for Greentech startups - in line with their goal to decarbonise by 2050. Greentech might be having it’s moment in Africa.
Bola Ahmed Tinubu becomes Nigeria’s President, and has big plans for Nigeria’s tech ecosystem. In October 2022, Tinubu released an 80-page manifesto with a dedicated section on the tech ecosystem. This was presented by serial entrepreneur and Future Africa founder Iyinoluwa Aboyeji.
KOOLSKOOL, a Moroccan ed-tech startup lets schools digitalise courses has raised $960 000 in a seed round from Moroccan fund Azur Partners Innovation Fund.
BioBuu, a Tanzanian bug-startup that uses flies to turn recycle organic waste from restaurants into high-protein chicken and fish feed has raised $200K in a seed round from GIIG Africa Fund. BioBuu uses 120 million maggots to recycle organic waste. Check out how it works below.
Planet42, a South African startup that buys used cars from dealerships and rents to customers on a subscription model has raised $100 million in equity and debt from Naspers Foundry and ARS Holding.
Envisionit Deep AI, a South African healthtech startup that uses AI to improve medical imaging diagnosis, raised $1.65 million in a seed round from New GX Ventures SA and GIIG Africa Fund. Congrats to Terence Naidu (Director of Envisionit and reader of the newsletter) and the team 👏🏾
Events and Opportunities
A lot of grants announced this week for founders.
Are you a Kenyan startup that helps people resolve justice problems? That's vague, but check out the HiiL Justice Accelerator Programme. Startups accepted will get a €10,000 grant, a network of mentors and four months worth of workshops. Learn more here.
The Google for Startups Black Founders Fund has launched! I strongly recommend this one. Google gives up to $150,000 in non-dilutive funding per startup. Check it out here
Applications are open for the Mercy Corps Ventures’ Crypto for Good Fund II, for startups using Web3 and blockchain technology to help underserved communities. The fund will give up to $100,000 to ten startups. Dig in here.
And that's a wrap! We will be back with a feature story (and an exciting guest writer) next week.
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