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SIMAD iLab, a tech hub established by SIMAD University in Mogadishu, has seen substantial growth in five years, supporting startups and creating jobs. Its recent upgrade enhances its role in Somali innovation, making it one of Africa's top tech hubs.

Kwara, a Kenyan fintech, secured $3 million in seed funding to expand its client base and services in 2023. With a new partnership with KUSCCO, Kwara aims to digitize SACCO operations and improve its neobank offerings for members.

Chimoney has acquired Scrim, a Nigerian social payment app, enhancing its features for a relaunch in December 2023. Scrim will maintain its identity while integrating Chimoney’s capabilities, allowing global payments and new earning opportunities for users.

The Mauritius Financial Services Commission (FSC), the regulatory authority responsible for the regulation, supervision and inspection of financial services has published a consultation paper on metaverse.
According to the commission, the metaverse describes what many expect to be the next

Proof of attendance protocol, often shortened to POAPs, function as digital badges you can collect at events, both to prove that you were there and to remember the occasion.
The NFT idea, which has been endorsed by Ethereum Founder, Vitalik Buterin, was conceived at a hackathon in 2019 where

Swypex, an Egyptian startup, launched a financial services platform for businesses after raising $4 million in seed funding from Accel and others. Designed to streamline financial management, it offers corporate cards, invoicing, and integration with existing systems.

Power, a Kenyan fintech company, raised $3 million in seed funding to expand its financial services for employees and gig workers across Africa. With a focus on improving financial health, Power offers a mobile app and digital banking solutions.

Revix, a South African cryptocurrency investment firm, suspended withdrawals for 25% of clients' assets due to Haru Invest's service termination. While communications are ongoing, assets remain inaccessible until resolution.

O Gabinete do Comissário de Proteção de Dados (ODPC) confirmou oficialmente que a empresa-mãe da WorldCoin, Tools for Humanity, eliminou todos os dados biométricos anteriormente recolhidos de cidadãos quenianos.
O regulador afirmou que isso seguiu uma auditoria de conformidade para garantir que a eliminação estivesse alinhada com a legislação de proteção de dados.

Nigerian startup Pivo has secured a $2 million seed funding to enhance its financial services for SMEs in the African supply chain sector. Founded by Amadi-Emina in 2021, Pivo aims to facilitate access to financing and improve payment management for businesses, especially in cargo transport.

A report highlights that South Africa, Kenya, Nigeria, and Egypt dominate tech investments in Africa, attracting 92.1% of over $2 billion in funding in 2021. Their large populations and GDPs are key factors, despite other nations facing challenges like political instability.