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Democratic Republic of Congo Cancels $1.2 Billion Biometric ID Project

September 06, 2024

What’s happened this Week:

  • US SEC fines Tingo CEO

  • ChitChat partners with Mastercard

  • and more!

In The News This Week:

US SEC Fines Tingo CEO $250 Million For Inflating Financial Performance Metrics

According to the Financial Times, a US court has fined Tingo CEO Dozy Mmobuosi $250 million for fraud and barred him from serving as a director of a public company.

BYD Expands To Zambia Through Local Partnership with PEM

BYD, the popular Chinese electric vehicle manufacturer, is now in Zambia through a partnership deal with PEM (Pilatus Electric Mobility Zambia Limited) which will now be known as BYD Zambia.

Democratic Republic of Congo Cancels $1.2 Billion ID Project Due To Inflated Costs

The Democratic Republic of Congo has canceled a $1.2 billion project for a national biometric ID system. The project was canceled after a government watchdog warned of cost overruns and funding irregularities.

In the rest of the news:

Africa Ecosystem Activity

  • SA fintech startup Omnisient raises $7.5m Series A funding for global expansion - Disrupt Africa

  • Senegalese logistics marketplace Logidoo launches all-in-one platform Afridoo - Disrupt Africa

  • Nigeria’s Kredete raises $2.25m to help African immigrants build credit scores, send money - Disrupt Africa

  • Tunisian energy management startup Wattnow raises multi-million dollar funding round - Disrupt Africa

  • Senegalese logistics marketplace Logidoo launches all-in-one platform Afridoo - Disrupt Africa

  • Tunisian energy management startup Wattnow raises multi-million dollar funding round - Disrupt Africa

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