Morocco: Latest News
Peter Pedroncelli, 4:36 pm
Ride-hailing company Uber has decided to suspend its operations in Morocco, where the U.S.-based firm has been serving customers in two cities over the last few years, due to regulatory concerns. After three years of operation in Morocco, Uber sited a lack of clarity with regards to the regulatory environment as the reason for a decision to suspend service in Casablanca and Rabat with immediate effect.
Staff, 9:54 am
The launch of a €100 million fund, expected to become the largest venture-capital fund focused on digital-technology start-ups in sub-Saharan Africa, is set to accelerate ongoing digital transformation and drive economic growth in the region. IFC’s €15 million equity investment makes it an anchor investor in the Partech Africa fund. The transaction marks IFC’s first investment in a mainstream venture capital fund in sub-Saharan Africa, where start-ups in the technology sector face funding gaps.
Peter Pedroncelli, 3:20 am
The Algerian Space Agency has launched a telecoms satellite into space in cooperation with China. This follows the successful launch of Alcomsat-1 by China Great Wall Industry Corporation (CGWIC) aboard a Long March 3B rocket. Primarily designed for telecommunications purposes, the Alcomsat-1 satellite will support television broadcasting and provide broadband communications for remote education, e-government, and other services.
Staff, 9:51 pm
Morocco launched its first observation satellite in a move aimed at boosting intelligence-gathering capabilities.The Mohammed VI-A satellite launched from Kourou in French Guinea on a Vega rocket built by Airbus Defense and Space and Thales Alenia Space. The satellite can be used for civilian and security purposes, mapping and surveillance of borders and coastline. Rabat is expected to launch another in 2018.Morocco is the third African country to launch a satellite after Egypt and South Africa.
Peter Pedroncelli, 5:41 am
E-commerce giant Jumia have expanded their online small business loans program to more markets across the African continent. Jumia, Africa’s first startup unicorn, has extended the program they launched in May, providing the small scale loans to merchants in all of the African countries in which it operates. Jumia has partnered with San Francisco-based mobile lender Branch to provide the loans to vendors, with the program proving successful in Kenya since May.
Peter Pedroncelli, 5:13 am
Uber is committing itself to the Egyptian market despite economic difficulties in the country, announcing a new support center in the capital that will see an investment of $5 million. The taxi-hailing startup has launched a support center in Cairo, with $5 million set to be spent on the project over the next five years, creating employment for 700 Egyptians as a result. Uber had two million users and provided jobs for 60,000 drivers in Egypt last year.
Peter Pedroncelli, 6:30 am
WorldRemit, an international digital money transfer business, and Wafacash, a Morocco-based financial services firm have partnered in order to provide instant money transfers to a growing set of African markets. The Moroccan money transfer market-leader and the global remittance company already work together in Morocco and Senegal, but this extended partnership will see their combined operations expanded to serve Cameroon, Benin, Burkina Faso, Niger and Cote D’Ivoire.
Peter Pedroncelli, 6:15 am AFKI Original
Mobile internet is incredibly important to Africans, with a high mobile penetration rate making mobile the major medium through which Africans connect to the internet. Broadband, or fixed line internet, speeds via desktop or laptop computers are constantly improving throughout the continent, but it is on mobile that some of Africa’s top speeds may surprise people, with one East African nation in particular enjoying faster average mobile internet speeds than people in the U.S.
Peter Pedroncelli, 6:02 am
Google’s emerging markets startup accelerator, Launchpad, has expanded to seven additional African countries from the original three eligible for the program since May of this year. This means that growth stage startups in Algeria, Egypt, Ghana, Morocco, Tanzania, Tunisia, and Uganda can now apply to be part of the accelerator program. Previously the only three African countries considered for applications were South Africa, Kenya and Nigeria.
Peter Pedroncelli, 7:59 am AFKI Original
In business terms, countries with the fastest broadband speeds have a distinct advantage over others, and this is especially true for Africa. The research took into account 189 countries, including most African nations ranking them from first to last with regards to average speeds that users experience in those countries. Singapore ranks as the world’s fastest country with speeds of 55.13Mbps, while Yemen is in last place in the ranking at an average speed of only 0.34Mbps.
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