🧑🏽‍🌾 Pula $20m raise for African farmers | 🪙 Bitcoin Halving in April 2024 | 🚗Tesla sacks 10% global staff

In today’s menu ☕️

🧑🏽‍🌾 Pula raises $20 million in Series B funding to provide insurance to 100 million African farmers
🪙 The Great Bitcoin Halving of 2024: Fewer Coins, More Value?
📱MTN MoMo Drives Financial Inclusion with Remittance Expansion Across Africa
🚗 Tesla to Lay Off Over 10% of Global Workforce Amidst Sales Decline
👨🏻‍💻 Opportunities

If you haven't subscribed, join over 7,000 people curious about Innovation, New Products, New Technologies in Africa.

NEW PRODUCT DEVELOPMENT & MANAGEMENT TRAINING

Register now to join the next class organised starting on the 18th of April, 2024. Click the link:  https://forms.gle/sYGBTB5ZFfq6Rvjf6

👨🏼‍🌾 AGRICULTURE

Pula raises $20 million in Series B funding to provide insurance to 100 million African farmers

Pula, an innovative insurance technology firm based in Kenya, has recently garnered a substantial $20 million in its Series B investment round. This fresh capital influx is poised to bolster the startup’s ambitious mission to extend its services to a larger number of African farmers and to cultivate robust partnerships within the region.

With this injection of funds, Pula is set to advance its “triple 100 vision.” The grand scheme entails embarking on a journey to furnish agricultural insurance to a staggering 100 million smallholder farmers—an endeavor that could catalyze a transformative ripple effect across Africa’s agricultural landscape.

The foundations of Pula were laid down in 2015 by the entrepreneurial duo Thomas Njeru and Rose Goslinga. Their vision was anchored in providing small-scale cultivators—the backbone of the continent’s agronomy—with reliable access to insurance that would safeguard their livelihoods against a spectrum of adversities, such as pestilence, diseases, and the whims of Mother Nature’s extreme weather patterns....…….continue reading

🪙 CRYPTOCURRENCY

The Great Bitcoin Halving of 2024: Fewer Coins, More Value?

Bitcoin, the world’s most popular cryptocurrency, is gearing up for a critical event this April 2024: The Halving.

Bitcoin halving refers to the event that occurs approximately every four years when the reward for mining new Bitcoin blocks is halved. This process is programmed into the Bitcoin protocol and is designed to control the rate at which new Bitcoins are created, ensuring a finite supply of the cryptocurrency. For example, after the April 2024 halving, miners will receive 3.125 Bitcoins for their work instead of the current 6.25.

How will it affect the value of Bitcoin that people already own?......Click the link to read about this

📱TELECOMMUNICATIONS

MTN MoMo Drives Financial Inclusion with Remittance Expansion Across Africa

MTN MoMo, the popular mobile money platform, has announced a significant expansion of its international remittance capabilities. The service now boasts 25 new wallet corridors across 10 African countries, allowing users to send money to over 200 million wallets maintained by various partners in 24 nations.

This latest expansion specifically benefits migrant workers in South Africa. Families back home in countries like Mozambique, Malawi, and the Democratic Republic of Congo (DRC) now have greater access to vital funds. Additional corridors include Ethiopia, Gabon, Kenya, Madagascar, Senegal, Sierra Leone, and Tanzania.......continue reading

🚘 AUTOMOBILES

Tesla to Lay Off Over 10% of Global Workforce Amidst Sales Decline

Tesla, the pioneering electric vehicle (EV) manufacturer, is undergoing significant restructuring, according to an internal memo obtained by Reuters on Monday. The memo revealed plans to lay off more than 10% of its global workforce as the company grapples with declining sales and heightened competition in the EV market.

CEO Elon Musk commented on the restructuring, stating, “About every five years, we need to reorganize and streamline the company for the next phase of growth.” This move comes as Tesla faces challenges in maintaining its market position amidst increasing pressure from competitors and changing market dynamics.

The memo also disclosed the departure of two senior leaders, battery development chief Drew Baglino and vice president for public policy Rohan Patel. Musk expressed gratitude for their contributions but investors expressed concern over the implications of their exits........continue reading

OTHER STORIES

• Zimbabwe Halts Starlink Services Pending Licensing, Raising Questions for African Rollout…..read more

• Elon Musk proposes fee for posting privileges on social platform X for new users……read more

• VALR, Luno, and Zignaly receive regulatory approvals for crypto operations in South Africa…..read more

• Threads App experiments with filter for real-time search results….read more

OPPORTUNITIES

• Mastercard Foundation Fund Invites Agribusiness SMEs to Apply for Resilience and Prosperity Grants….read more

• Huawei invites applications for Kenya’s Seeds for the Future Programme 2024…..read more

• Entries open for 2024 Edition of Global Startup Awards Africa: Aiming to spotlight Africa’s top innovators and entrepreneurs…..read more

• 12 African entrepreneurs win a total of US$400,000 in grants from the FINCA Ventures Prize Competition…..read more

• AgriTech4Egypt Innovation Challenge invites applications from agri-tech ventures for a sustainable agricultural future….read more

• Irish Tech Challenge 2024: Call for South African startups to help address global issues….read more