Privet,
Victoria from Techpoint here,
Here's what I've got for you today:
- Ride-hailing drivers in Kenya protest for fair pay
- Kenyan startups lead African funding in H1 2024
- Nokia and Telecom Egypt to bring 5G to Egypt
Ride-hailing drivers in Kenya protest for fair pay
Ride-hailing drivers in Kenya started a five-day strike yesterday, demanding fair pay and the removal of value-added taxes.
They protested at the National Transport and Safety Authority (NTSA) office on the first day, following a government mandate ten months ago that forced Bolt and Uber to lower their commission to 18%.
The strike by Kenyan ride-hailing drivers aims to secure influence in Uber and Bolt’s pricing decisions, arguing they cover expenses like insurance and parking fees.
Zakaria Mwangi of the Digital Taxi Association of Kenya highlighted that while drivers bear these costs, the apps determine trip prices.
Drivers are also protesting tax deductions, where the apps take an 18% commission from fares and then deduct taxes from drivers' earnings, though these taxes are remitted to the government, not retained by the ride-hailing companies themselves.
In a Nairobi meeting on Sunday, drivers declared they would no longer cover business expenses while accusing app companies of securing guaranteed income unfairly.
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Bolt respected the drivers' strike rights and pledged ongoing collaboration but avoided commission questions. Uber acknowledged the strike and aims to minimise disruptions.
The core issue is drivers being "driver partners," not employees, giving companies control over earnings and highlighting the drawbacks of gig work.
Kenyan startups lead African funding in H1 2024
Kenyan startups have raised the most funding of any African country in the first half of 2024, continuing an impressive trend from 2023.
Intelpoint reports that Kenyan startups secured $200 million, making up 17.9% of the startups represented, second only to Egypt.
This shows growing investor confidence in Kenyan innovation and entrepreneurship. Nigeria, Egypt, and South Africa also remain top funding destinations, with these four countries raising a total of $488 million.
Overall, African startups have raised $581 million so far, down 61% from last year’s $1.47 billion. March was a standout month, largely due to Moove’s $100 million funding.
What’s more, later-stage investing is becoming more attractive. How? Find out all the deets in Chimgozirim’s latest story here.
Nokia and Telecom Egypt to bring 5G to Egypt
Nokia and Telecom Egypt are teaming up to bring 5G technology to Egypt to enhance Internet connectivity across major cities like Alexandria, Cairo, and Luxor.
The deployment, set for later in 2024, promises to boost network performance and capacity using Nokia's energy-efficient ReefShark technology.
Telecom Egypt secured a 15-year, $150 million licence from Egypt’s NTRA in 2024, making it the first operator in the country authorised to operate 5G.
Mohamed Al Fowey, CTO of Telecom Egypt, highlighted the partnership's role in delivering enhanced mobile broadband and opening doors to new possibilities for digital innovation.
The collaboration reflects Nokia's dedication to providing comprehensive services, from deployment to network optimisation, ensuring a seamless transition to 5G.
With Egypt's telecom landscape set to evolve rapidly, Nokia and Telecom Egypt are gearing up to empower industries and individuals alike, fostering economic growth and technological advancement across the region.
In case you missed it
- High Court in Abuja sets Binance tax evasion trial for October 2024
- Kenyan skincare startup Uncover raises $1.4 million to fuel expansion
What I'm watching
- How Feedback Affects Performance - Andrew Huberman - Growth Mindset
Opportunities
- Are you a tech professional in Africa? Take a few minutes to fill this questionnaire about your job among others. You also stand a chance at winning 100 Euros.
- Ventures Platform has over 100 job openings across its portfolio companies. Apply here.
- Bubusplug is organising a one-day hybrid event for jobseekers in collaboration with the Young African Leaders Initiative(YALI) Lagos Network July 27, 2024. Apply here.
Have a lovely Tuesday!
Victoria Fakiya for Techpoint Africa.