It’s raining money in African tech this week. Paymob has raised $35 million. Spiro also secured more debt funding, and e-finance gets shareholder approval for its Tamweely deal in Egypt.
Speaking of money, Kenyan TikTok creators may soon see less of it in their payouts. TikTok is asking creators for their tax and residency details as it prepares to comply with Kenya’s digital content tax rules. Kenya has applied withholding tax to digital content monetisation since 2023, with the country’s taxman listing rates of 5% for residents and 20% for non-residents. TikTok hasn’t said when it will start deducting the tax or which payouts will be affected.
Another reminder: We’re looking for stories from people whose journeys changed at Moonshot. Met a co-founder, investor, partner, or future employer there? Tell us about it.
Let’s get into it.
Originally published by TechCabal.