BD Insider, Letter 138: Where FTX invested in Africa

In BD Insider, Letter 138, we examine:

• African startups funded by FTX and Alameda Research
• Why Google is restricting illegal loan apps in Nigeria and Kenya
• Safaricom’s plan introduce mobile numbers for Kenyans under 18

and other noteworthy information like:

• the latest African Tech Startup Deals
• opportunities, interesting reads and more

The Big Three!

African startups funded by FTX and Alameda Research

Why it matters: Last week, Nigeria-based Web3 startup, Nestcoin was the first African company to disclose that it was affected by FTX’s liquidity crises. “Last week’s events have had an impact on us, as we held our assets (cash and stablecoins) at FTX to manage our operational expenses,” Yele Bademosi, Nestcoin’s co-founder and CEO, said.

Last updated: December 19, 2024