Kenya hits pause on gambling ads for the next 30 days

Konnichiwa,

Victoria from Techpoint here,

Here’s what I’ve got for you today:

Kenya hits pause on gambling ads
C-One Ventures acquires Bankly
Amazon’s Project Kuiper, Starlink’s new rival, finally left Earth

Kenya hits pause on gambling ads

Gambling ads have just been suspended in Kenya for 30 days, and this affects everything from TV, radio, and social media to billboards, SMS, emails, and even celebrity shoutouts. The Betting Control and Licensing Board (BCLB) says the move is to help fight rising gambling addiction and protect minors who are getting exposed too early.

Basically, if you’re running a betting company or promoting one, you’re not allowed to advertise for the next month. And before you even think about coming back, you’ll need to submit any ad content to the Kenya Film Classification Board for approval. It’s all part of tightening things up and reducing the social harm tied to gambling.

This comes after growing concerns that some betting ads were painting gambling as a legit way to make money or get rich quick. And let’s not forget how often these ads pop up during hours when kids are likely watching or listening. That’s one major red flag the BCLB is trying to deal with.

Kenya’s betting industry is huge; we’re talking over KSh 766 billion annually. Around 79% of Kenyans are betting online, which is more than Nigeria and Ghana. So yeah, it’s big business, but the government is trying to strike a balance between the gains and the challenges it brings.

There’s also a new Gambling Control Bill in the works that could overhaul the entire system. Think new regulatory bodies, more local ownership (30% shares must be Kenyan-owned), and tougher rules on when and how ads can run.

Some folks are already worried about the financial hit, especially media houses and sports platforms that rely on betting sponsorships. But for now, the government’s message is clear: protect the people first, especially the youth.

C-One Ventures acquires Bankly

C-One Ventures, an investment company that plays in the tech and finance space, just acquired Nigerian fintech startup Bankly. This comes about seven months after Bankly brought in a new Managing Director, Stephen Amodu.

We don’t know how much the deal is worth, but according to a statement seen by Techpoint Africa, Bankly will be merging with other fintechs already under C-One Ventures. Basically, they’re combining forces — licences, services, and even team members — with sister companies in the group.

Some of these sister companies include Fulcrum (a supply chain financing platform), GetPayed (a payments app), and gomoney (a digital bank). So it looks like C-One Ventures is building an ecosystem of connected financial products, and Bankly is the latest piece of that puzzle.

Bankly was launched in 2018 with a mission to boost financial inclusion in Nigeria. It provides digital savings, payment services, and access to credit, mostly through an agent network of 50,000 people spread across the country. Right now, the company serves over two million individuals and businesses.

They’ve had some major wins over the years, including raising $2 million in seed funding back in 2021 and getting licensed by the Central Bank of Nigeria as a microfinance bank. Co-founder and CEO Tomilola Majekodunmi will be staying on in an advisory role to help with the transition.

While this move wasn’t exactly expected, Majekodunmi believes it’s for the best. She said Bankly has made real progress digitising traditional saving methods like ajo and esusu for underserved communities, and she’s hopeful this acquisition will keep the dream alive. The deal also reflects a growing trend of M&As in the African tech space, from Rise and Hisa to Wasoko and MaxAb.

Amazon’s Project Kuiper, Starlink’s new rival, finally left Earth

Amazon just kicked off its big plans to take on SpaceX’s Starlink with the launch of the first 27 satellites for its Project Kuiper broadband Internet network. After delaying the launch earlier this month because of bad weather, things finally took off on April 28 from Florida’s Cape Canaveral.

Project Kuiper is Amazon’s answer to global Internet issues, aiming to beam fast and aff0rdable broadband to places that currently don’t have good access. The full plan? Launch over 3,200 satellites into low Earth orbit (LEO) to close the connectivity gap for underserved communities.

Starlink, which has been around since 2019, already has a head start with more than 7,200 operational satellites. But Amazon isn’t playing small; this launch signals the start of a full-scale deployment, and they’re partnering with United Launch Alliance (ULA) to get most of the satellites into orbit.

This launch also marks a major milestone for ULA. Gary Wentz, one of their top execs, said they’ve been working closely with Amazon’s Kuiper team to make this happen and are excited to keep the momentum going.

Along with the two Kuipersat prototypes Amazon launched in 2023, they plan to use ULA’s new Vulcan rocket for 38 more rapid launches. This partnership is actually the biggest commercial launch deal in history, so it’s a pretty big deal for both companies.

Tory Bruno, ULA’s CEO, says they’ve upgraded their Cape Canaveral facilities to handle all this action. With the ability to prep two rockets at the same time, they’re ready to fire off satellites faster and support both commercial and government missions as they connect the world, one launch at a time.

What I’m watching

Justice: What’s The Right Thing To Do? Episode 02: “PUTTING A PRICE TAG ON LIFE”
The True History Of GOD

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