The Briefing: African watchdog forces Jumia to review its terms in push to protect consumers
Africa’s largest e-commerce site Jumia has amended its terms and conditions after the regional watchdog compelled the African unicorn
Hi,
For today, the good news is that Nigeria has a new president, as declared by INEC - Bola Ahmed Tinubu. However, the humongous budget - NGN305 billion (~USD 663 million), INEC received to ensure a free and fair election was thrown in the gutter.
Make that what you will.
Let’s focus on The Briefing. - Samson.
Quick Stats.
In 2021, despite the consequences of the COVID-19 pandemic, over 200 million migrant workers sent to their 800 million family members in developing countries US$605 billion, a figure representing more than three times the annual flow of official development assistance (ODA) and exceeding foreign direct investment (FDI).
How Kunle Adewale is using virtual reality to improve healthcare in Nigeria
Here’s how it works: Once a patient puts on a motion-sensing VR headset (sometimes with handheld controllers), their perceived environment is replaced with a 360-degree virtual world that they can move around in and interact with. The patient suddenly finds themselves in the ocean surrounded by dolphins, with the sun shining through the water’s surface. In another instance, the patient can find themselves in the streets of New York or at the Abu Simbel Temples in Egypt. TechCabal
African watchdog forces Jumia to review its terms in push to protect consumers
Africa’s largest e-commerce site Jumia has amended its terms and conditions after the regional watchdog, the COMESA (Common Markets for Eastern and Southern Africa) Competition Commission, compelled the marketplace to review clauses and disclaimers it found misleading or false. The Commission said Jumia’s presence in more than one COMESA member state, its millions of sellers and the extent of commerce it facilitates imply that it “could have an appreciable effect on trade in the common market.” TechCrunch
SA’s tech startup ecosystem is slowing down: Can a Startup Act resurrect it?
South Africa recorded the second-highest year-on-year decline in the value of deals in 2022, dropping by as much as 78% from the previous year. South Africa recorded the second-highest year-on-year decline in the value of deals in 2022, dropping by as much as 78% from the previous year. At the moment, according to analysis [pdf] by AfricArena, a Cape Town based accelerator, South Africa faces a real risk of being toppled by emerging ecosystems including Ghana and Tunisia for a spot in the coveted “Big 4” list. TechCabal
Japanese investor sees opportunity in Africa’s growing healthcare market
Japan’s healthcare system is widely recognised as one of the most advanced in the world, but this wasn’t always the case. In an effort to provide all citizens with sufficient healthcare and reduce the financial burden of medical expenses on individuals, the government introduced a universal health insurance scheme in 1961. Susumu Tsubaki, CEO of AAIC Investment, expects that a trend directionally similar to Japan’s experience with the expansion of health insurance will occur in many African countries where insurance coverage is currently low but increasing. How We Made It in Africa
Zimbabwean Blockchain Startups Launch Service to Help Migrants Efficiently Move Funds Across Borders
The Zimbabwean blockchain startup Flex ID and the South Africa-based Whatsapp remittance platform, Uhuru Wallet, recently said they have launched a platform that offers “combined digital identity and remittance services to millions of Zimbabwean immigrants in South Africa.” In a statement shared with Bitcoin.com News, the two startups hailed what they described as the “first cross-chain collaboration between the two companies.” As revealed in the statement, Flex ID, which was co-founded by Victor Mapunga, harnesses the Algorand blockchain, while the Uhuru Wallet is built on the Stellar blockchain. Bitcoin.com
Can M-Pesa take on the global remittance market?
One of Africa’s most popular fintech companies, M-Pesa, is eyeing the global remittance market. And data shows it might not be the wrong target. Forecasts from the United Nations predict a $5.4 trillion industry by 2030, and companies want a slice of this cake. The company aims to expand into international markets, where it will face established players such as Western Union and MoneyGram, as well as banks in new countries. Ventures Africa
What we are reading.
Drone Package Delivery Market to Reach USD 31,188.7 Million by 2028 | CAGR 53.94%
How America plans to break China’s grip on African minerals
France's Macron heads to Africa in bid to improve ties
Microsoft Africa internet plan moves forward with fibre deal
The potential of Africa’s mobile and digital ecosystem
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About The Briefing.
The Briefing is a quick bite briefing of African tech and business activities trending. The writers’ opinion on one huge trending topic that matters, followed by “In Other News” and “What We Are Reading”
This Briefing by Sam.
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