Ephraim Modise

Botswana

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Articles

Pioneering the Future of Digital Transformation

1 month ago | magnitt.com | Ephraim Modise

The early success of startups such as Uber, Netflix, and Airbnb brought to the foray the concept of “disruption”. Over the years, startups have been expected to also upend existing industries whose business models have been deemed “archaic”. However, a shift has emerged in recent years. Instead of directly competing with established players, many startups are now building solutions that empower incumbents, helping them modernize rather than replace them.
Ebee faces higher tax bill in Kenya after losing e-bike classification appeal

2 months ago | techcabal.com | Adonijah Ndege |Frank Eleanya |Ngozi Chukwu |Ephraim Modise

Kenya’s tax appeal tribunal has upheld the Kenya Revenue Authority’s (KRA) decision to classify Ebee Mobility Kenya’s consignment of e-bikes as fully built units rather than assembly parts, dealing a setback to the e-mobility startup. Ebee had argued that the bikes were imported in parts for local assembly, a classification that would have qualified for a lower 10% tax rate.
Norrsken22 discusses funding disparity for female-led startups

2 months ago | techcabal.com | Towobola Bambgose |Muktar Oladunmade |Ngozi Chukwu |Ephraim Modise

Scaling a startup requires capital to invest in technology, hire talent, and achieve product-market fit. Many entrepreneurs rely on investors to fund this vision, but female founders find it more difficult to secure capital compared to men due to systemic challenges including biases in venture capital decision-making and the limited number of female founders pursuing high-growth opportunities.
Uber-backed Moove acquires Brazil’s Kovi to continue expansion

2 months ago | techcabal.com | Ngozi E. Chukwu |Ephraim Modise |Faith Omoniyi |Kenn Abuya

Moove, the Uber-backed Nigerian mobility fintech startup, has acquired Kovi, a car rental startup in Brazil, Latin America’s largest ride-hailing market. The acquisition continues the global expansion of the startup which currently operates in 19 cities across 6 continents. The acquisition is an all-stock transaction that makes Kovi’s investors shareholders in Moove.
GITEX Global to hold 2025 Ai Everything event in February

Jan 23, 2025 | techcabal.com | Ganiu Oloruntade |Ngozi E. Chukwu |Ephraim Modise

GITEX Global, one of the world’s largest tech expo, will hold Ai Everything GLOBAL, its flagship event dedicated to discussing artificial intelligence and other emerging technologies, for the first time in two cities. The event will run from February 4–6, 2025 in Abu Dhabi and Dubai, attracting founders, investors, corporate innovators, and thought leaders.
SeamlessHR informally explored PaidHR acquisition in 2024

Jan 22, 2025 | techcabal.com | Faith Omoniyi |Adonijah Ndege |Ngozi E. Chukwu |Ephraim Modise

After raising $9 million in a Series A extension round in late 2024, the Nigerian HR Software-as-a-service (SaaS) company SeamlessHR initiated informal discussions with competitor PaidHR about a possible acquisition, according to multiple sources familiar with the discussions. However, those early stage talks did not progress to a formal offer or agreement, the same people said.
Kenya seeks public participation on crypto bill in move towards regulation

Jan 10, 2025 | techcabal.com | Adonijah Ndege |Ganiu Oloruntade |Ngozi E. Chukwu |Ephraim Modise

Kenya’s National Treasury has opened a public consultation on a new bill and policy aimed at regulating cryptocurrencies and virtual asset companies like crypto exchanges. This move comes as the International Monetary Fund (IMF) warned that Kenya is falling behind in regulating the industry. The proposed bill could solve a legal grey area that has prevented banks from engaging with cryptocurrencies in the country.
With 2.6 million orders, Jumia Black Friday remains a hit

Dec 5, 2024 | techcabal.com | Ngozi E. Chukwu |Kenn Abuya |Ephraim Modise

Say what you will about Africa’s macroeconomic conditions and customer spending power, but everyone loves a good Black Friday deal, and e-commerce giant Jumia understands this. During its 2024 month-long Black Friday campaign, which saw 20%-70% discounts on phones, fashion, and lifestyle items, the company generated 2.6 million orders. It’s an 18% improvement on its 2023 Black Friday campaign. That growth happened even though Jumia now operates in nine markets, two fewer than in 2023.
November’s Glimmer of Hope

Dec 5, 2024 | magnitt.com | Ephraim Modise

As the year draws to a close, November's funding activity in emerging venture markets (EVMs) across the Middle East, Africa, Southeast Asia, Türkiye, and Pakistan, was an improvement on the ecosystems’ fortunes in October. $938 million was raised from 82 deals across the emerging venture markets in the ME, Africa, SEA, Pakistan, and Türkiye. Singapore led the way with 18 deals, followed by KSA and Türkiye. Startups from Indonesia, Qatar, and Nigeria also raised more than 5 rounds in November.
Decoding the State of VC After Presidential Elections

Nov 21, 2024 | magnitt.com | Ephraim Modise

The US presidential elections have come and gone and Donald Trump will re-enter the White House for a second term from January 2025. With US institutions being pivotal investors in VC funds in MENA, SEA & Africa, how will VCs in the regions fare going forward?