Good afternoon,

Today, we are collaborating with an Australian 🇦🇺 based Africa focused venture fund Proximity Ventures led by Caleb Maru who also authors an incredible newsletter on the African startup scene Prox Weekly you can subscribe to here.

3 things you need to know:

• 98% of Kenya’s population had a mobile phone (the global average is 67%)

• 59% of the population has internet access and mobile money (called M-Pesa) was introduced in 2007 is used by 96% of Kenyan household)

• The biggest raise? The digital commerce marketplace, Marketforce that facilitates trade among Africa’s informal merchants and consumer brands raised $40 million

Follow the money

• Microsoft launched a $27m African Development Center in March, hiring 450 people.

• Google announced a Product Development Hub, and will hire 100 people in the city.

• Visa is launching an ‘Innovation Hub’ in Nairobi later this year.

• AWS also plans to set up a hub in Nairobi

[Africa The Big Deal Data is from January - July 2022]

→ From January to October 2022, 25 Kenyan fintech startups raised a total of $120.4 Million

→ The digital commerce marketplace, Marketforce that facilitates trade among Africa’s informal merchants and consumer brands raised $40 million

→ 43 Kenyan founders behind 25 Kenyan 🇰🇪 fintech startups that raised a total of $120 Million in 2022. The digital commerce marketplace that facilitates trade among Africa's informal merchants and consumer brands raised $40 million

Preamble Dark Mode

→ From January to October 2022 Kenyan fintech startups raised a total of $120.4 Million

→ The digital commerce marketplace, Marketforce that facilitates trade among Africa’s informal merchants and consumer brands raised $40 million

→ 43 Kenyan founders behind 25 Kenyan 🇰🇪 fintech startups that raised a total of $120 Million in 2022. The digital commerce marketplace that facilitates trade among Africa's informal merchants and consumer brands raised $40 million

Preamble Plus

Africa's 10 highest paid heads of states in U.S. dollars. Cameroonian head of state Paul Biya is the second-longest-ruling president in Africa and the highest paid with a salary of $620, 976 followed by King Mohammed VI of Morocco with a salary of $152, 000 and South African president Cyril Ramaphosa at $223, 500