💰Janngo Capital $78m Fund Close

Plus: NITDA Warns of “CovertCatch” Malware on LinkedIn

Innovation Village
October 31, 2024

Today’s Menu ☕️

💰 Janngo Capital Closes $78m Fund to Boost African Startups
🚙 Nigeria, West Africa nations to Launch Unified Driver’s License and Vehicle Registration System
🧑🏽‍💻 Beware of Fake Job Offers: NITDA Warns of “CovertCatch” Malware on LinkedIn
📱SA’s Competition Tribunal stops Vodacom’s merger with Maziv
💻 Apple launches new, more powerful versions of MacBook Pro
🤖 Elon Musk’s xAI in Talks to Raise Funding Valuing It at $40 Billion

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💰FUNDING

Janngo Capital Closes $78m Fund to Boost African Startups

African venture capital firm Janngo Capital recently announced the final close of its second fund, securing €73 million ($78 million), exceeding its initial target of €60 million ($63 million). The firm, led by founder Fatoumata Bâ, initially marked the first close at €60 million in 2022, drawing investments from prominent backers including the African Development Bank Group (AfDB) and European Investment Bank (EIB).

These key investors were joined by a diverse lineup of additional institutional contributors, such as the Mastercard Foundation Africa Growth Fund, Tunisia’s ANAVA fund, and the endowment fund of Ghana’s Ashesi University, along with the U.S. International Development Finance Corporation (DFC) and the World Bank’s International Finance Corporation (IFC).....……continue reading

🚙 REGULATION

Nigeria, West Africa nations to Launch Unified Driver’s License and Vehicle Registration System

Nigeria, in collaboration with other West African countries, is preparing to introduce a unified system for driver’s licenses and vehicle registrations. This effort, part of a regional initiative to standardize transportation systems, aims to enhance road safety and facilitate the free movement of people and goods across borders within the Economic Community of West African States (ECOWAS).

Shehu Mohammed, Corps Marshal of Nigeria’s Federal Road Safety Corps (FRSC), spoke about this development at a recent workshop in Abuja focused on inter-agency cooperation. Represented by Deputy Corps Marshal Clement Oladele, he outlined how the FRSC is working with ECOWAS through the West African Road Safety Organisation (WARSO) to establish a Regional Vehicle Administration and Information System (RVAIS)....……continue reading

🧑🏽‍💻 CYBERCRIME

Beware of Fake Job Offers: NITDA Warns of “CovertCatch” Malware on LinkedIn

Nigeria’s National Information Technology Development Agency (NITDA) has issued a stark warning about a new breed of malware targeting unsuspecting job seekers on LinkedIn. Dubbed “CovertCatch,” this insidious software poses a significant threat to individuals and organizations across various sectors, including defense, media, technology, and academia.

Cybercriminals are exploiting the trust and professional networking environment of LinkedIn to spread CovertCatch. They masquerade as recruiters or employers, enticing victims with attractive job offers that often lead to malicious downloads or compromised websites. Once installed, CovertCatch operates stealthily, capturing sensitive data, recording keystrokes, and even taking screenshots, all without the user’s knowledge.........continue reading

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📱TELECOMS

SA’s Competition Tribunal stops Vodacom’s merger with Maziv

South Africa’s Competition Tribunal has blocked Vodacom’s attempt to acquire a significant stake in Maziv, a subsidiary of Community Investment Ventures Holdings (CIVH). The proposed deal would have allowed Vodacom to hold a 30% to 40% share in Maziv, merging its assets with those of Dark Fibre Africa (DFA) and Vumatel, two of the country’s largest fibre network operators owned by CIVH.

The decision follows nearly two years of regulatory review, culminating in an extensive 26-day hearing that concluded in September 2024. Vodacom expressed deep surprise and disappointment at the ruling, stating that both the telecom company and Maziv are awaiting the Tribunal’s detailed rationale. They are considering an appeal through the Competition Appeal Court to explore other potential options for moving forward..…….continue reading