Making the news Communications Authority of Kenya publishes framework on new regulatory sandbox for emerging technology “The Communications Authority of Kenya (CA) is the regulatory authority for the ICT industry in Kenya, with responsibilities in telecommunications, cyber security, e-commerce, broadcasting and postal/courier services…. [T]he Authority is developing this regulatory sandbox with the aim of nurturing and supporting innovation by exploring the application of innovative regulatory solutions.” Read the framework docs.  SWVL attempts to unwind $40M USD acquisition as 1:25 reverse stock split takes place “Low on cash and high on losses, the Cairo-born mass transit firm wants to undo its 2022 acquisition of Volt Lines for $40 million as it searches for a way to survive… The company’s acquisition, at the time, followed a buying spree from Swvl that saw it buy ViaPool, a Latin American mass transit company with operations in Argentina and Chile; Berlin-based mobility startup Door2door; and Shotl, an on-demand shuttle bus service.” Learn more.  South Africa implements new regulation about crypto advertising “…will require anyone hosting any advert across the crypto sector to specify the full implications. This means that they must expressly state in their adverts that users that invest in their products could end up with losses. The body also said that the adverts need to remind users that their investments could go up, which could result in profits and vice versa.” Learn more.  Nigeria’s central bank launches AfriGo, the country’s national card scheme “By breaking the triopoly and establishing a national card payment scheme, the CBN, in partnership with the Nigeria Inter-Bank Settlement System (NIBSS), is positioning itself to disrupt and possibly dominate a fast-growing market. The CBN cites reduced operating costs and optimised foreign exchange usage as the hallmarks of its latest fintech foray. ” Learn more. Startup &  Funding Activity   Morocco – Logistics startup, Cathedis, raises ~$735K USD with funding participation including Afrimobility and CDG Invest
 Â Nigeria – Last-mile delivery startup, Gokada, works to crowdfund $750K USD on Get Equity, a Nigerian investment platform for startups
    South Africa – eCommerce startup, Yebo Fresh, raises ~$4.5M USD pre-Series A funding round to help company expand and strengthen physical and systems infrastructure   UAE – Accounting & compliance startup, Wafeq, raises $3M USD as the company sets sights on expanding into Egypt, beyond its current market in the UAE and Saudi ArabiaÂ
 UAE – Micro-lending fintech, EZRA, receives investment from APIS Partners to accelerate geographic expansion, growth, and talent acquisition   United States – Ghanaian American-founded, Spatial Labs, raises $10M USD seed round to scale its blockchain-embedded technology and expand into other industries
 Investor ActivityPartech releases 2022 Africa Tech Venture Capital report; highlights $6.5B USD raised by African tech last year with debt capital taking a bigger piece of the pie  Featured ArticleDebt Funding is on the rise at African startups – Alexander Onukwue in Semafor “Equity still made up over three-quarters of money African startups raised last year. But the year-on-year increase in debt funding, in deal volume and dollar value, was unprecedented. Debt deals have increased nearly six-fold since 2018, and the 85 unique debt investors last year alone represented at least a two-fold increase, Partech says.” Continue reading. | 
