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Daba wins Ecobank Fintech Challenge
Plus, LNB's landmark IPO, opportunity to win free stocks and we’re hiring!
Anthony Miclet
October 03, 2024
Good morning.
In today’s newsletter, highlights from our Ecobank Fintech Challenge triumph, and then:
Early access to LNB IPO shares
Benin embraces slave trade victims
Safaricom mulls Starlink partnership
We’re hiring - see open roles below
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Inside Daba
ICYMI: We Won the 2024 Ecobank Fintech Challenge!
We’re thrilled to share that Daba was crowned winner of the prestigious 2024 Ecobank Fintech Challenge at the final in Lome, Togo on Friday.
This milestone attests to our commitment to revolutionizing finance and investing in Africa! Tap the button below for the full announcement.
Exclusive: Get Early Access to LNB Shares in BRVM IPO
Be among the first to invest in the IPO of the Loterie Nationale du Benin (or National Lottery Company of Benin in English) on the BRVM, exclusively through the Daba app.
This groundbreaking opportunity allows you to own shares in a fast-growing, state-backed company and participate in Benin's ongoing economic renaissance. Click here to learn more.
Don't miss your chance to be part of this historic moment in francophone West Africa.
Refer Friends, Earn Big with Daba!
Unlock amazing rewards with Daba's new Referral and Rewards program! Invite friends to invest and earn up to CFA 600,000 (over $1,000).
Get a free stock for each referred user who invests 10,000 FCFA. New users also enjoy their first deposit free when they deposit $150, €150, or CFA 80,000.
It's a win-win that keeps on giving!
How it works:
Open the Daba app and navigate to your profile section
Tap on "Referrals and Rewards"
Copy your unique referral code or use the "Share link" button
Send your link to friends interested in Daba
When they sign up and invest, you both earn rewards
Repeat and watch your rewards grow!
Start sharing now and boost your investment portfolio!
The Week’s Top Stories
Ancestral homecoming
Benin Grants Citizenship to Descendants of Slave Trade Victims
The French-speaking West African economy has passed a landmark law granting citizenship to descendants of transatlantic slave trade victims.
Individuals without other African nationality can claim Beninese citizenship by proving their ancestry, including through DNA tests as Benin hopes to reconnect with the African diaspora.
The move isn’t unprecedented. Ghana has granted citizenship to African Americans since 2019. And beyond that, it acknowledges Benin's historical role in the slave trade, particularly through the port of Ouidah.
Development boost
World Bank Lends Nigeria $1.57BN for Health, Climate Projects
The World Bank has approved $1.57bn in loans to Nigeria, targeting crucial sectors including $500m for education and healthcare governance, $570m for primary healthcare, and $500m for power and irrigation projects.
The funding aims to enhance human capital development, especially for women and girls, and improve infrastructure resilience against climate change.
As Nigeria's largest creditor, the World Bank’s support is pivotal in improving Nigeria's future employment opportunities, especially in regions where insecurity has disrupted education and services.
Satellite synergy
Safaricom Explores Partnership with Elon Musk’s Starlink Amid Scrutiny
Safaricom, Kenya's telecom giant, is in talks with Elon Musk's Starlink and other satellite providers for potential partnerships as CEO Peter Ndegwa aims to complement existing services with satellite technology.
While Starlink holds a license in Kenya, concerns about regulatory compliance persist while Safaricom faces legal action from an advocacy group alleging obstruction of Starlink's operations.
This approach—foreign satellite providers partnering with local telecoms—could help ensure regulatory compliance, boost local investment, and address security concerns related to cross-border satellite operations.
Headline Roundup
A summary of the major business, tech, and finance headlines of the past week.
Economy and Macro
M&A and Corporate
Startups and Tech
AXIAN Group Acquires Stake in Daba-Backed Insurtech WiASSUR
Fundraising and Accelerators
Must-Reads on Daba
Boost your investing IQ with educational blogs and thematic articles on Africa.
Learn
Investing Basics: 21 Investment Terms Everyone Should Know
Ten ETF Strategies Every Beginner Investor Should Know
Insights
Perspectives
Opportunities Corner
Discover funding, awards, and accelerator opportunities to boost your startup's growth. Deadline in brackets.
Mastercard Agribusiness Challenge (Nov 22)
Join the Daba Team - We're Hiring!
Daba is expanding, and we're looking for passionate individuals to join our team. We have exciting opportunities for:
Think you’re a fit?
Click on the role of interest for a chance to join us in shaping the future of finance in Africa.
Chart of the week
Get more context into themes shaping Africa’s investing landscape.
China’s Africa investment pledge rebounds: China is ramping up efforts to dominate Africa's economic landscape, pledging over $50bn in financial support during the latest FOCAC summit, a resurgence in Beijing’s commitments after a dip in 2021. Over the past decade, China’s investments have driven Africa’s infrastructure boom through the Belt and Road Initiative (BRI). And in 2023, trade between the two regions hit record levels. Click here or tap the button below to learn more.
That’s it for this week.
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If you haven’t, you can also download the Daba app to get daily bite-sized insights into African economies, industry and country reports, and access investment opportunities.
Catch you next week!