This Week in African Tech: Africa’s VC Investment Expected to Soar, Bundle Launches BXD & More

Africa's VC Investment

In This Week in African Tech, we share the latest tech stories from the continent. This week’s stories include Africa’s growing VC investment, crypto app Bundle’s new native token launch, and Kenya’s attempt to ban pornography, among others.

Africa’s Venture Capital Investment Expected to Soar in 2021

2021 will see Africa’s VC funding increase significantly in comparison to 2019. VC investments in 2020 declined due to the Covid-19 pandemic and travel restrictions across the globe. This year, TechCrunch predicts that VC funding in Africa will increase to between $2.25 billion and $2.8 billion.

Bundle Launches BXD to Attract Users

Bundle recently launched its native token, BXD, on the Binance Smart Chain to attract users to the platform. The launch will lead to Bundle’s growth in the African market and beyond.

Kenya’s New Bill Seeks to Ban Pornography

A bill tabled before the Kenyan parliament under The Computer Misuse and Cybercrimes (Amendment) Bill, 2021, seeks to ban the distribution, downloading, storing, and transmission of pornography. Those found violating this bill could be forced to pay fines of up to Ksh. 20 million, face jail time of 25 years, or both, if the bill is approved.

Nigeria Falls Short on Important Metrics Despite Leading in the Number of Tech Startups in Africa

Although Nigeria leads in the number of startups in the African tech ecosystem, the West African country still falls short on certain critical metrics. The critical issues cut across poor infrastructure and education, security issues, and recurring political instability.

Safaricom Consortium Wins Licence to Enter into the Ethiopian Market

The Ethiopian telecommunications regulator has awarded a Safaricom PLC-led consortium an operating licence to enter into the market came at a cost of $850 million. The consortium includes Vodafone, Vodacom, and the CDC Group. The entry will create 1.5 million jobs with operations expected to begin in 2022.

South Africa Leads as Africa’s Future Tech Frontier in the African Continent

South Africa emerged first in a 2021/2022 African Tech Ecosystem of the Future ranking. The southern country came first in various categories such as its economic potential, business friendliness, and its startup status.

Second Volcano Warning Forces Thousands to Flee in DR Congo

Following the volcano eruption in Mount Nyiragongo in DR Congo over the weekend, thousands of people have been evacuated. The move follows a warning that Mount Nyiragongo could erupt again after the city of Goma experienced aftershocks and two cracks in the ground.

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