TechCabal Daily: Cell C's Bold Buyback Move 🚀

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Thank God It’s Friday!

Coinciding with news that Solana is poised to gain direct access to exchange-traded funds (ETFs) this October, hip-hop icon and former US presidential hopeful Kanye West launched his $YZY meme cryptocurrency, which unfortunately led to significant losses for many investors.

Solana’s meme coin trading platform, pump.fun, is increasingly becoming a risky environment for novice crypto enthusiasts. It almost seems necessary to have glaring warnings advising newcomers to steer clear of the volatile meme coin market.

The term “degen traders” exists for a reason-only those who embrace high-risk bets on speculative tokens can confidently say “WAGMI” (We’re All Gonna Make It) and hope for the best.

Now, let’s dive into today’s highlights. But remember, WAGMI! Peace sign emoji

Cell C secures approval to reacquire its subscriber base
Uncovered Fund commits $20 million to African startups
Kenya secures $169 million to boost electric vehicles and affordable energy
The evolution of the World Wide Web 3
Latest job opportunities

Telecommunications

Cell C Receives Green Light to Reacquire Its Customer Portfolio

South Africa’s fourth-largest mobile network operator, Cell C, has achieved a significant milestone. The Competition Tribunal of South Africa has granted unconditional approval for Cell C to repurchase its contract subscriber base from its majority stakeholder, Blue Label Telecoms.

This transaction enables Cell C to regain ownership of Comm Equipment Company (CEC), the subsidiary responsible for managing its postpaid customers.

In case you missed it: Back in May, Blue Label announced intentions to publicly list Cell C as part of a strategic restructuring aimed at unlocking shareholder value. This announcement triggered a remarkable 192% surge in Blue Label’s stock price.

However, the buyback is only one element of a larger plan. Blue Label is also pursuing approval from the Competition Commission (CompCom) to increase its ownership stake in Cell C from 49.5% to 53.5%. This majority control is essential for facilitating the restructuring process and preparing Cell C for a potential listing on the Johannesburg Stock Exchange (JSE).

Looking at the bigger picture: In a telecom market dominated by giants Vodacom and MTN, Cell C’s anticipated public listing could signal a revival for a company previously described by the Competition Commission as “in need of a lifeline.” The success of this endeavor hinges on securing board and shareholder approvals, as well as favorable market conditions.

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Investment News

Japan’s Uncovered Fund Commits $20 Million to African Startups

Investment animation — Image Source: Tenor

Japanese investors continue to deepen their engagement with Africa’s burgeoning startup ecosystem. Recently, Uncovered Fund partnered with Monex Ventures to unveil a new ¥3 billion (approximately $20 million) investment vehicle targeting early-stage ventures in finance, distribution, mobility, and sustainability sectors across Africa and the Middle East.

Uncovered Fund has a track record of supporting prominent fintech and retail startups such as Piggyvest, Gozem, Lemfi, and Yoco. By expanding into diverse industries, the fund aims to strengthen ties between African innovators and Japanese corporations, fostering cross-continental collaboration.

This move aligns with a broader trend of Japanese capital flowing into Africa’s tech space, reflecting growing confidence in the continent’s entrepreneurial potential.

Japanese Investment Fuels Africa’s Tech Growth

Since 2015, Japanese investors-including corporate venture capital arms-have injected over $1.8 billion into startups spanning 14 African nations, according to Briter. This influx highlights Japan’s growing interest in Africa’s burgeoning tech ecosystem.

Notably, corporate VCs such as Toyota Tsusho and SBI Holdings have actively engaged in the continent, often coupling their investments with strategic distribution partnerships. These collaborations enable Japanese firms to establish direct operational footholds within African markets.

This trend reflects a strategic pivot by Japanese investors, who are counterbalancing demographic declines at home by backing scalable technological solutions tailored to Africa’s expanding population and consumer base. Such patient capital is vital for nurturing early-stage African entrepreneurs and fostering sustainable innovation.

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Investment Highlights

Kenya Secures $169 Million Samurai Bond for EV and Power Infrastructure

Kenya EV initiative — Image Source: The Standard

Kenya recently finalized a $169 million Samurai bond agreement with Japanese financiers, aimed at boosting electric vehicle (EV) production and modernizing the country’s inefficient power grid. This initiative is part of a broader plan initially proposed over a year ago with Nippon Export and Investment Insurance, Japan’s government-backed insurer, to raise approximately £500 million through yen-denominated bonds.

Currently, Kenya boasts over 9,000 registered electric vehicles, positioning it alongside Morocco and South Africa as one of Africa’s leading EV markets. Local companies like BasiGo are targeting the deployment of 1,000 electric vans and minibuses, while Roam manufactures up to 15 electric motorcycles daily at its Nairobi facility.

This financial injection is expected to attract more global EV manufacturers to Kenya, mirroring the expansion seen in South Africa. However, the government’s role in maintaining favorable tax and import duty policies will be crucial to sustaining this momentum.

For Kenyan consumers, this development heralds a future of more affordable electricity and environmentally friendly transportation options, potentially establishing Kenya as East Africa’s electric vehicle hub.

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