Kenya’s Wasoko, Egypt’s MaxAB merges to scale ventures. 2 other stories and a trivia

This line-up of stories will help you discover the latest happenings around the tech world, today.

1. Kenya’s Wasoko, Egypt’s MaxAB merges to scale ventures

Two of Africa’s B2B e-commerce enterprises, Wasoko from Kenya and MaxAB from Egypt, have announced the signing of preliminary merger terms.

According to the duo, the alliance aims to create a unified entity, driving the transformation of Africa’s informal retail sector.

Formerly Sokowatch, Wasoko had earlier concluded a US$125 million Series B equity round in March 2022.

Ripples Nigeria gathered that the platform facilitates retailers in replenishing their stock via a mobile app with free same-day delivery, operating across Kenya, Tanzania, Rwanda, Uganda, Zambia, and the Democratic Republic of Congo (DRC).

MaxAB, founded in 2018, focuses on supporting local underserved merchants and mom-and-pop shops in Egypt and Morocco to expand their businesses, increase revenues, and improve their quality of life.

On strength of capital, the company closed a US$40 million pre-Series B equity round in October 2022.

Speaking on the development, MaxAB CEO Belal El-Megharbel expressed confidence in the merger, stating, “As a combined company, we can truly unlock the potential of Africa’s informal retail sector across a variety of technology-enabled services in e-commerce, fintech, and logistics.”

Trivia: Encapsulating a data packet within another type of packet is called what?

A. Filtering
B. Scraping
C. Tunneling
D. Framing
See Answer Below

2. FIRS, MATAN unveils digital platform to aid VAT Collection

The Federal Inland Revenue Service (FIRS) has unveiled a digital platform- Integrated Market Revenue Management System (IMRMS), to assimilate the informal sector, specifically market traders, into the federal government’s tax structure.

This move, according to the body, is expected to harmonize VAT Direct Initiative (VDI), a collaborative endeavor with the Market Traders Association of Nigeria (MATAN), aimed at fostering awareness and efficiency in Value Added Tax (VAT) collection and remittance within the informal sector.

The FIRS had since July declared its intention to forge a partnership with MATAN for the systematic collection and remittance of VAT in the informal sector, employing unified systems technology.

Through the VAT Direct Initiative, FIRS is utilizing the IMRMS platform to simplify VAT payments for market traders.

Mr. Adebayo Adefeogbe, a director at the FIRS, underscored that this coordinated approach is poised to grant the government access to nearly 70% of previously untaxed revenue within the informal sector.

3. UNICEF donates laptops, projectors to young people in Sierra Leone

UNICEF Sierra Leone, has provided 113 laptops and 23 projectors to 39 schools in Sierra Leone to foster Giga activities.

The donation aims to enhance internet accessibility for young students, fostering information access and expanding opportunities.

Ms. Salima Bah, the Minister of Communications, Technology, and Innovation, expressed optimism, stating, “This strategic move is expected to empower students to emerge as leaders and driving forces of development across the nation.”

Emphasizing the alignment with national priorities, she highlighted the commitment to advancing education, technology, and youth empowerment.

The initiative, addressing the stark digital disparity with less than 1% of schools connected to the internet in Sierra Leone, is poised to fuel innovation, employment opportunities, and a robust digital economy for the country’s youth.

Rudolf Schwenk, UNICEF Representative in Sierra Leone, emphasized the importance of bridging the digital divide and providing essential digital skills for the younger generation.

Citing alarming statistics where only three out of ten people in Sierra Leone have internet access, Schwenk stressed, “We need to bridge the digital divide by increasing access to technology and empowering young people with the skills they need.”

Trivia Answer: Tunneling

Tunneling is the process of transporting network traffic that uses one protocol within data packets using another protocol. It allows two devices to hide the nature of the data within the tunnel from other devices on the network. Tunneling protocols can encrypt traffic, provide a secure connection for a VPN, or allow packets using an unsupported protocol to travel across a network

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