Kenyan web3 platform Fonbnk has partnered with Tanda to launch a first-of-its-kind airtime trading marketplace across Tanda’s network of 40,000 agents. Through the partnership, Tanda agents and vendors across East Africa can act as airtime ‘market makers’ and access new revenue streams by buying and selling prepaid airtime for profit on Fonbnk’s distributed exchange.
Victory Farms, a Kenya-based aquaculture startup, has raised $35 million in a Series B round. The startup says it will use the funding to finance the expansion of its operations in Kenya and Rwanda and potential entry into Ethiopia, Uganda, and Tanzania.
Pan-African venture capital firm Verod-Kepple Africa Partners has reached the second close of its first fund (Verod-Kepple Africa Ventures), targeting African startups at $43 million. The fund achieved its first close last March (at $20 million) and aims to attain its final close by the end 2023 at $100 million; if reached, VKAV will join an exiguous number of Africa-focused funds with $100 million or more in total capital allotment. The fund targets African startups and will invest in Series A and B startups with $1.5m to $3m checks.
The U.S. Senate has passed a bill that could potentially ban TikTok in the U.S. if its Chinese owner, ByteDance, does not sell its holdings within a year. The bill now goes to the President Biden, who has said he will sign it. Court challenges are likely to follow.