Cameroon's new score

Today: Cameroon receives $38 billion from South Korea.                                                                                                                                                                                                                                                                                                                                                                                                                 July 19, 2024 | [Read Online]( In partnership with Share this newsletter: //link.mail.beehiiv.com/ss/c/u001.3gD7PSbuofKNJf4aviiyABEwLaotY-cnTvL9XkLJeecz8HFi5aIcJRlOHNPACAGtlq5KbbmzlzCpN5GuBGOUoSMHEQdMvCCErcPqfkCTamGENiBnMw13k66-yrDlLxWUiz_sQJcyBtk-f4c8MZLfdzn9o8SOl-znTrXxpWbWwv5Txy-Pwr4NcSHzTyBZI0b2Qh93xHLYx10sUlWLMvsr_RREMQzL24F6BCGtQ9a3fZJIfUvdvcFzO5gnGVrIJQx-0uNAz0ceHTCBYPf0Pkz54GtBOUH0K572D2laBZpFXeqO9GLRTHE-R9Xi0KZSSjLDqsmamo0x1_yKTi4DJTvdrg/486/6Jr-_QouRPKs-Qr-m6hM6A/h2/h001.w8jD6Hh9ltYRNrgJAa5-xhY9WRyCV4JWYv68ebVCt0g [Lire en Français]( [اقرأ هذا باللغة العربية]( TGIF ☀️ Nigeria's payments landscape is about to get a major shakeup, and it all hinges on collaboration. Unified Payments, a company with deep roots in the industry, just secured a crucial license that positions it as a champion for teamwork. This isn't your typical competitor story. Unified Payments plans to work with everyone, from rivals like NIBSS to booming neobanks like Opay and Moniepoint. Its goal? Ensuring seamless service and growth for the entire Nigerian fintech ecosystem. Intrigued by how collaboration can revolutionise an industry? [Dig deep into our coverage here](. In today's edition - [Cameroon receives $38 billion from South Korea](#Story1) - [Nigeria proposes new bill for e-commerce platforms](#Story2) #Story2- #Story2[South Sudan gets Starlink](#Story3) - [Funding tracker](#Story4) - [The World Wide Web3](#WW3) - [Events](#Opps) Funding //link.mail.beehiiv.com/ss/c/u001.3gD7PSbuofKNJf4aviiyABEwLaotY-cnTvL9XkLJeecz8HFi5aIcJRlOHNPACAGtlq5KbbmzlzCpN5GuBGOUoSMHEQdMvCCErcPqfkCTamGENiBnMw13k66-yrDlLxWUiz_sQJcyBtk-f4c8MZLfdzn9o8SOl-znTrXxpWbWwv5Txy-Pwr4NcSHzTyBZI0b2Qh93xHLYx10sUlWLMvsr_RREMQzL24F6BCGtQ9a3fZJIfUvdvcFzO5gnGVrIJQx-0uNAz0ceHTCBYPf0Pkz54GtBOUH0K572D2laBZpFXeqO9GLRTHE-R9Xi0KZSSjLDqsmamo0x1_yKTi4DJTvdrg/486/6Jr-_QouRPKs-Qr-m6hM6A/h8/h001.3OQTjONg-I2S0ePpBQBg9bJm5zVm2OvUnIrW6j63Rtw Cameroon receives $38 billion from South Korea to improve record-keeping Cameroon has finalised a CFA23.21 billion ($38 million) [funding agreement]( with South Korea to set up a digitised national registry. Nearly half of all [births in Cameroon are unrecorded](, making it difficult to plan for healthcare, education, and voter registration—especially in rural areas. This [lack of documentation]( isn't unique to Cameroon alone. Globally, nearly 40% of deaths are not registered, and in low-income countries, only 8% of reported deaths have documented causes. Thankfully, even before the partnership with South Korea, Cameroon was already taking matters into its own hands. It issued [500,000 birth certificates]( in 2022 to previously undocumented children in rural areas, off the back of a $2.8 million grant. And in 2023, it [partnered with OpenCRVS, an open-source civil registration platform]( to develop a database for residents in 20 municipal councils, funded by research agencies from Germany and South Korea. Now, with bigger funding comes bigger plans. Cameroon is set on using technology to make things better. Additionally, the funding will support other initiatives: $4.8 million for an identity system, $5.6 million for an e-procurement platform, and $8 million for a "Smart Campus" project to improve public record-keeping. As Cameroon plans to digitise its record-keeping process, cloud cost is expected to increase in order to accommodate the change. And if anything, managing data on the [cloud is expensive](. Read Moniepoint’s 2024 Informal Economy Report 7 out of 10 informal business owners borrow money for their business. [Click here]( to find out more about Nigeria’s informal economy and credit. Regulations //link.mail.beehiiv.com/ss/c/u001.3gD7PSbuofKNJf4aviiyABEwLaotY-cnTvL9XkLJeecz8HFi5aIcJRlOHNPACAGtlq5KbbmzlzCpN5GuBGOUoSMHEQdMvCCErcPqfkCTamGENiBnMw13k66-yrDlLxWUiz_sQJcyBtk-f4c8MZLfdzn9o8SOl-znTrXxpWbWwv5Txy-Pwr4NcSHzTyBZI0b2Qh93xHLYx10sUlWLMvsr_RREMQzL24F6BCGtQ9a3fZJIfUvdvcFzO5gnGVrIJQx-0uNAz0ceHTCBYPf0Pkz54GtBOUH0K572D2laBZpFXeqO9GLRTHE-R9Xi0KZSSjLDqsmamo0x1_yKTi4DJTvdrg/486/6Jr-_QouRPKs-Qr-m6hM6A/h19/h001.fqZo8EjwRJ7WP8oLbTFPtQXW_Jd2Bg2sbPHvE1hu_9s Nigeria proposes new bill for e-commerce platforms It’s been raining taxes and regulations from Nigerian lawmakers. Nigerian lawmakers have introduced a raft of policies over the past few days. On Wednesday, Nigerian President Bola Ahmed Tinubu wrote to the senate to [demand a 50% tax on foreign exchange gains]( made by banks. Everybody is getting taxed regulated: In a new bid to regulate and protect trading on Nigerian e-commerce platforms, the federal government alongside the National Insurance Commission (NAICOM) is developing a bill that [demands new information requirements from e-commerce platforms](. The proposed bill requires e-commerce platforms like Jumia and Konga to provide crucial information about themselves, including their legal names, addresses, and phone numbers. This information will be used to communicate with the seller and used in cases of legal proceedings. The bill also requires these platforms to provide “accurate and accessible information describing the goods or services offered”. The bill requires electronic sellers to clearly disclose transaction terms, conditions, and costs to consumers in a concise and comprehensive manner, including payment terms and methods; return, exchange, cancellation, and refund policies; and withdrawal and termination conditions. The stakes are now higher: The bill is part of a broader National Digital Economy and E-Governance Bill which will see e-commerce startups fined if they contravene any section of the law. When passed into law, Nigeria’s Minister of Communications, Innovation, and Digital Economy, Bosun Tijani, says the bill will provide a legal framework and accelerate progress in the digital economy. Join Fincra at API Conference on July 20, 2024 Calling all devs!! This is your chance to dive deep into Fincra’s extensive suite of payment APIs and accompanying SDKs. Come and see how you can build your next big idea with easy-to-integrate APIs. [Reserve your spot here](! Internet //link.mail.beehiiv.com/ss/c/u001.3gD7PSbuofKNJf4aviiyABEwLaotY-cnTvL9XkLJeecz8HFi5aIcJRlOHNPACAGtlq5KbbmzlzCpN5GuBGOUoSMHEQdMvCCErcPqfkCTamGENiBnMw13k66-yrDlLxWUiz_sQJcyBtk-f4c8MZLfdzn9o8SOl-znTrXxpWbWwv5Txy-Pwr4NcSHzTyBZI0b2Qh93xHLYx10sUlWLMvsr_RREMQzL24F6BCGtQ9a3fZJIfUvdvcFzO5gnGVrIJQx-0uNAz0ceHTCBYPf0Pkz54GtBOUH0K572D2laBZpFXeqO9GLRTHE-R9Xi0KZSSjLDqsmamo0x1_yKTi4DJTvdrg/486/6Jr-_QouRPKs-Qr-m6hM6A/h26/h001.VGdsiBSOa4G_d4CDCVVooG-fbM1BUb320msPoouCuZA Starlink gets approved in South Sudan Elon Musk's SpaceX has [secured a license]( to operate its Starlink satellite internet service in South Sudan, a welcome development for a country struggling with [a 12.1% internet penetration rate](. However, the path forward for Starlink isn't exactly smooth sailing. First hurdle: finding a partner. While the license is a green light, SpaceX needs a local distributor to sell Starlink terminals within South Sudan. South Sudan has faced instability since gaining independence in 2011, and recent unrest in neighbouring Sudan has added strain. This complex political and security landscape poses a challenge for Starlink's rollout. Second hurdle: avoiding black markets.[A recent Bloomberg]( investigation revealed illegal Starlink terminal sales in some countries, raising concerns about potential misuse in South Sudan. Ensuring responsible distribution will be critical. The big picture: Despite these challenges, Starlink's arrival could significantly improve internet connectivity for South Sudan's citizens, with only 3.97 million mobile connections currently available according to GSMA. However, successfully navigating these hurdles will be crucial for Starlink to realise its potential. Paystack Virtual Terminal is now live in more countries Paystack Virtual Terminalhelps businesses accept secure, in-person payments with real-time WhatsApp confirmations and ZERO hardware costs. Enjoy multiple in-person payment channels, easy end-of-day reconciliation, and more. [Learn more on the Paystack blog →]( TC Insights //link.mail.beehiiv.com/ss/c/u001.3gD7PSbuofKNJf4aviiyABEwLaotY-cnTvL9XkLJeecz8HFi5aIcJRlOHNPACAGtlq5KbbmzlzCpN5GuBGOUoSMHEQdMvCCErcPqfkCTamGENiBnMw13k66-yrDlLxWUiz_sQJcyBtk-f4c8MZLfdzn9o8SOl-znTrXxpWbWwv5Txy-Pwr4NcSHzTyBZI0b2Qh93xHLYx10sUlWLMvsr_RREMQzL24F6BCGtQ9a3fZJIfUvdvcFzO5gnGVrIJQx-0uNAz0ceHTCBYPf0Pkz54GtBOUH0K572D2laBZpFXeqO9GLRTHE-R9Xi0KZSSjLDqsmamo0x1_yKTi4DJTvdrg/486/6Jr-_QouRPKs-Qr-m6hM6A/h34/h001.PtoUyNX44WpgysooCmGRL71ICJcuFrKVkK6Rb6D2qTo Funding Tracker This week, Egyptian fintech startup Dopay [closed]( a US$13.5 million Series A extension round, topping up its $18 million Series A round raised in 2021. Argentem Creek Partners led the round with participation from existing investors. (July 18) Here’s the other deal for the week: - South African travel-focused fintech TurnStay [secured]( US$300,000 in funding from Silicon Valley and New York-based investors [DFS Lab]( and [DCG](. (July 16) - Kenya’s Uncover, a tech-enabled emerging beauty brand, [closed]( a US$1.4 million seed II funding. The round was co-led by EQ2 Ventures and IgniteXL Ventures, with participation from Chui Ventures, Samata Capital, and Altree Capital. As part of the round, Uncover also facilitated a significant secondary transaction to accommodate investor demand. Follow us on [Twitter](, [Instagram](, and [LinkedIn]( for more funding announcements. Before you go, our State of Tech in Africa H1 2024 Report is out. Click this [link to download it](. Master growth at GrowthCon GrowthCon is back bigger & better! Come explore proven strategies, tactics & success stories of growth & innovation in Africa via curated masterclasses, workshops & case studies led by top growth leaders. This year also includes the Executive Track, exclusive to business leaders & senior execs. [Get your tickets now!]( Crypto Tracker //link.mail.beehiiv.com/ss/c/u001.3gD7PSbuofKNJf4aviiyABEwLaotY-cnTvL9XkLJeecz8HFi5aIcJRlOHNPACAGtlq5KbbmzlzCpN5GuBGOUoSMHEQdMvCCErcPqfkCTamGENiBnMw13k66-yrDlLxWUiz_sQJcyBtk-f4c8MZLfdzn9o8SOl-znTrXxpWbWwv5Txy-Pwr4NcSHzTyBZI0b2Qh93xHLYx10sUlWLMvsr_RREMQzL24F6BCGtQ9a3fZJIfUvdvcFzO5gnGVrIJQx-0uNAz0ceHTCBYPf0Pkz54GtBOUH0K572D2laBZpFXeqO9GLRTHE-R9Xi0KZSSjLDqsmamo0x1_yKTi4DJTvdrg/486/6Jr-_QouRPKs-Qr-m6hM6A/h48/h001.ZaMnB3xvkuzSM1FNpi7PlljmLwHX68DT7KDv1WzG_1s The World Wide Web3 Source: [Coinmarketcap logo] Coin Name Current Value Day Month Bitcoin $64,142 - 0.84% - 2.05% Ether $3,423 + 0.06% - 3.87% Pixelverse $0.052 + 101.56% + 101.56% Solana $161.05 + 1.86% + 14.38% * Data as of 06:43 AM WAT, July 19, 2024. Events //link.mail.beehiiv.com/ss/c/u001.3gD7PSbuofKNJf4aviiyABEwLaotY-cnTvL9XkLJeecz8HFi5aIcJRlOHNPACAGtlq5KbbmzlzCpN5GuBGOUoSMHEQdMvCCErcPqfkCTamGENiBnMw13k66-yrDlLxWUDvDf_20X3fE62oAvNbZTmtIkAPgeF7d0GSkJvM6M-i9st3_pJwzNAKJ53Tev0HuloHJGX4HsZMvaMvig36p-6XCtrqh3RSCykhZzVVoqJy6BI2FuN0yYVFrKGYsVNLCnxKQLYo0JBK3S-4mHrznPnruu590ZAC_WXpYFhp4daa9SUKztjNaH0c0elrARqnXgbM9lXiWDruwzLmb5VnthXsmx1fyXr-HdN8qKG_uruSU/486/6Jr-_QouRPKs-Qr-m6hM6A/h51/h001.E1m6mWXU6qYoUXCfBxjfIY9UWzj0UXR2OzY42suBbfE - You can still get an early bird ticket to the second edition of TechCabal’sMoonshot Conference! From October 9–11, 2024, at the Eko Convention Centre, Lagos, Nigeria, you can join Africa’s biggest thinkers and players like Iyin Aboyeji, Wiza Jalakasi, June Angelides, Kola Aina on a global launchpad for change. If you want to join these stakeholders in Africa’s tech ecosystem for three days of insightful conversations, then [get an early-bird ticket to Moonshot 2024 at 20% off](. - The Nigeria Fintech Forum is set to hold its third edition on July 25, 2024, at the Civic Centre, Victoria Island, Lagos. Nigeria Fintech Forum plays host to the most senior leaders across Nigeria’s fintech and banking, uniting industry stakeholders who are defining the future of the ecosystem, If your work resonates with fintech, payments or banking, This is where you should be. [Get a ticket here](. - JICA will organize an event related to Nigeria's startup ecosystem in Japan on Sep 5th 2024. [Find out more here](. You should definitely read these 👇🏾 - [As naira slides to ₦1,580, FX street traders retreat on fears of EFCC raid]( - [Kenya’s communications regulator warns media houses as protests continue on Thursday]( - [President Tinubu endorses ₦70,000 ($43) minimum wage]( Written by: [Emmanuel Nwosu](, [Mobolaji Adebayo]( & [Faith Omoniyi]( Edited by: [Muyiwa Olowogboyega]( & [Timi Odueso]( Want more of TechCabal? Sign up for our insightful newsletters on the business and economy of tech in Africa. - [The Next Wave](: futuristic analysis of the business of tech in Africa. - [Entering Tech](: tech career insights and opportunities in your inbox every Wednesday at 3 PM WAT. - [TC Scoops](: breaking news from TechCabal P:S If you’re often missing TC Daily in your inbox, check your Promotions folder and move any edition of TC Daily from “Promotions” to your “Main” or “Primary” folder and TC Daily will always come to you. 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