TechCabal👨🏾🚀
@TechCabal
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A pan-African publication chronicling innovation and tech developments across Africa| Pre-register for Moonshot 2024 -
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Last year, we hosted over 2,000 of you in Lagos, Nigeria and this year, we are back with a bang!
Mark your calendars for the most anticipated event of the year –
@moonshotbytc
is coming!
Get early bird tickets at 20% off for a limited time only!
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Nigerians want to
#EndSARS
immediately. The Police unit's unruly behaviour has been ongoing for over a year now, with every case a bigger threat to the lives and careers of young people in tech.
🧵 Thread 👇🏾
#EndPoliceHarassment
|
#LagosProtests
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Today, Ademola Adeleke, the governor of Osun state, officially cancels right-of-way fees, allowing telecom companies and internet providers to lay fibre optic cables for free as part of a digital economy policy.
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"Ebun Okubanjo, co-founder and CEO at Bento Africa, said breaks are for pussies and fuckers, and whoever takes time out of the office for a whole week is a weak member of the team and not needed in the organisation.”
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After his father seized his laptop for “coding too much” and not facing his studies, Njoku dropped out to focus on coding. Today, he's become one of the best blockchain engineers of his generation and runs his own crypto startup, Lazerpay.
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The startup's aggressive growth has been boosted by many factors. Partnerships with influential cultural figures in Nigeria, like
@EricaNlewedim
, have been crucial.
We'll have more on
@kudabank
's $25m Series A. For now, read our report here.
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🚨BREAKING: Kuda, the Nigerian fintech, has raised $25million in a Series A round.
The bank has grown to 650,000 customers in two years of operations and processed $2.2bn in February 2021 alone.
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Ebi Atawodi, former Uber West Africa manager, joins Netflix as director of payments
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Absolutely no one
Nigerian startups every two business days:
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Africa's most valued startup, Flutterwave, has been implicated in some allegations. Its CEO, Olugbenga Agboola, has been accused of "5 years worth of harassment" from ex-employee, Clara Wanjiku. Read today's edition of TC Daily.
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Overworked staff, mass exits: The inside story of GTBank’s mobile app and USSD transaction failures
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@jack
Nigeria may not go ahead with an outright internet ban but it doesn’t hurt to stay vigilant.
All about VPNs and offline messaging here
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Dash, the Ghanaian fintech has shut down. The startup raised $86.1 million in five years and attracted big-name investors. It raised $32.8 million in a seed round—the second largest seed round for an African startup—in 2021.
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Access Bank, GTBank begin closing customer accounts that have traded cryptocurrency
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Former CEO of Africa’s most valuable startup Flutterwave, Iyinoluwa Aboyeji, has responded to the recent allegations of fraud and insider trading levelled against the company’s management and current CEO and co-founder, Olugbenga Agboola.
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A Nigerian internet or social media shutdown? Here's what to know and do
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If you're a Nigerian working in Saudi Arabia, what are the biggest tech and culture shocks?
-Porn and betsites are banned
-Remote villages don't use cash. Debit card or nothing
-It gets as hot as 60°C
A dive into John's tech experience in Saudi Arabia
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By the end of the 2021 financial year, Kuda Bank recorded a loss of ₦6,092,554,866 ($14,214,681), a 602% rise from the ₦868,062,000 ($2,025,295) loss it made in 2020, according to financial report seen by TechCabal.
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The eNaira is NOT a blockchain. It is just the digital version of the naira you have in your purse.
Same value, same everything.
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Kuda bank went from processing $500million in November 2020 to $2.2billion in February 2021
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For the first time, around 100 African startups raise at least $1 million in one year
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Since 2015,
@Havilah2
has dedicated his energy, time and resources towards building the tech and entrepreneurial ecosystem in SSE Nigeria through the
@StartupSouthNg
community/conference. $400k raised from 0, Aniche is just gearing up to do more:
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Two Nigerians built the world's first pidgin to English translation model.
But due to visa delays, they couldn't go to Canada for the NeurIPS Conference despite having their work accepted and published.
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@JakeRBright
Police officers are supposed to secure lives and properties. But Nigerians have flooded the streets this week demanding the complete shutdown of a particularly unruly unit that remains a sustained threat to their lives.
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A six-week investigation into allegations of sexual and non-sexual abuse laid against Nigeria-based stock investment startup Risevest’s founder and CEO, Eke Urum, has found him guilty of sexual impropriety and abuse of power.
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As the 60,000 seat arena fills up with colourful and exuberant football lovers across the world, screaming and dancing to Fally Ipupa's crowd-pleaser, a young photographer is positioned to make a name for himself.
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Your dream job could be conditioned on a training bond. Should you accept?
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If you're a Nigerian living in China, what are the biggest tech and culture shocks?
- No Whatsapp/Twitter/Instagram
- You can't put up job ads!
- Big brother is always watching
Read Molash's experience of living in China here.
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This year, 3 out of Nigeria's 36 states failed to publish details of their annual
#budget
a feat
@BudgITng
founder, Seun Onigbinde considers celebratory considering what was previously obtainable. He shares more in this week's edition of
#MyLifeInTech
:
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Paga has officially processed $14 billion (₦6.1 trillion) since 2012.
It took the company 99 months— Jan. 2012–March 2020—to process the first ₦2 trillion ($4 billion).
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Adora Nwodo is a 25-year-old software engineer based in Lagos. She currently works as a cloud engineer at Microsoft and is the author of Cloud Engineering for beginners. I’m bringing Adora to Centre Stage because she has shown great commitment to…
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The Nigerian Army is tracking social media propaganda, while pushing misinformation on Twitter
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Meet Jennie and Itoro, the duo using mobile healthcare service to bring medical solutions to the doorsteps of Nigerians
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Social media is awash with many offers to double or triple your money in a short period of time.
Here's our piece on many of these scams with the personal stories of people who have fallen for them.
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Good things coming to Kenya:
Google to open product dev. center in Kenya
Amazon is launching AWS Local Zone.
Visa opens its first Africa innovation hub.
Microsoft opens development center in Nairobi
Kenyan techies preparing to eat good this season
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@itsLaycon
is coming to your screens again but this time, he is telling his own story.
"I am Laycon" will stream on Showmax in more than 23 countries outside Africa.
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In what some people are calling the "deal of the decade," American fintech company, Stripe has acquired
@paystack
.
Where to begin with this? Thread! 🧵
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Nigeria-based fintech, BFREE, has raised an $800,000 seed round led by Nigeria-based Beta Ventures alongside Launch Africa Ventures and GreenHouse Capital
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Showmax is bringing
@itsLaycon
back to TV.
Music, family, and friendship are important to the BBNaija winner, so he will be exploring these parts of his life in his 10 episodes tv series "I am Laycon."
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Bosun Tijani has been named the minister of communications, innovation, and digital economy. The 46-year-old tech entrepreneur and investor is now tasked with driving impactful policies to support the Nigerian tech ecosystem.
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Flutterwave has launched Swap, a new product that will digitise the process of getting foreign exchange for Nigerians with the backing of the CBN. The fintech is leveraging a partnership with Wema Bank, a commercial bank, and Kadavra BDC, a bureau de…
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Tech now contributes more than oil to Nigeria’s GDP.
The recent GDP report by the National Bureau of Statistics shows that the ICT sector contributed 18.44% to Nigeria’s GDP in Q2 2022. The sector saw a 6.55% growth rate from Q1 2022.
👇
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The Nigerian Army is branding multiple credible reports of the Tuesday Lekki shooting as "fake news"
That's a misinformation campaign.
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60 African startups have received $4 million equity-free funding from Google.
They include Stears Business, Eden Life, Eversend, ZayRide, Spleet, LifeBank, Kapsule, Healthtracker, Garri Logistics, FlexPay, KUDIGO, Healthlane, Clafiya, etc.
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This final year student led a tech awakening at the University of Lagos
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We are showing the next generation of girls and women that careers in technology are possible and diverse.
#TechWomenLagos
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Bike hailing operators encountered yet another roadblock last week, this time from the Lagos state police. Bikes were not only seized but a rider shot at and left in critical condition.
Of course, we went digging.
Here's what we've learned so far:
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TechCabal is bringing African tech to television
The Next Wave show explores the business and impact of tech in Africa—how big tech and startups are changing the continent.
Show time: Wednesday, 4:30pm WAT on CNBC Africa, DSTV Channel 410
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MTN has reportedly taken 18 Nigerian banks to court over a ₦22.3 billion ($53.7 million) mobile money fraud made through its Mobile Money Payments Service Bank, MoMo PSB.
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Nigeria is going after MasterCard and Visa with the launch of its domestic card service called AfriGo
AfriGo basically does everything your Mastercard, Verve, or Visa cards can do.
A THREAD
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In its first 12 months,
@PiggyBankNG
had about 400+ users who saved about ₦21 million. They ended 2019 with a million users who saved about $80 million.
On
#TCLive
, COO
@OdunEweniyi
spoke on the value of building and growing a human African brand.
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Happening now on the workshop stage:
@Jollz
,
@fkabudu
,
@Koromone_AY
and
@OpeAdedeji_
explore their works and the future of content.
#MoonshotbyTechCabal
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The first foray into Asia for the
#PitchdriveII
founders was into Singapore, an attractive startup ecosystem by global ranking. Day 1 saw the founders reviewing each other's pitch decks, visit to
@found8sg
and a tour of the
#Google
Singapore office.
#StoriesfromPitchdrive
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Quro Medical, the South African startup pioneering hospital-at-home services, has raised a $1.1m seed round
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“I want people to know that my life has been dedicated to enjoyment before now... But we did a good thing and I can never feel bad about that.”
This is
@fkabudu
's life in tech. You should read it.
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11 rising African female founders you should know in 2022
A thread
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Top 5 smartphone sellers in 2020:
Samsung- 253 million sales.
Apple sold 199million smartphones.
Huawei sold 182.6 million.
Xiaomi sold a total of 145.8 million.
Oppo sold 111.7 million
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Akinyemi Akindele studied computer science at the University of Ibadan, where he trained as a Web2 software developer. But he transitioned into blockchain engineering, worked with Binance and EMTECH, and is now solving problems with Web3 at BetDemand.
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JUST IN: The Central Bank of Nigeria has just frozen the bank accounts of Nigerian fintech platforms Risevest, Bamboo, Trove and Chaka for the next six months.
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Jack Dorsey will be in Ghana for six month to set up Twitter Africa HQ. Ghana's Minister of Communications and Digitization hopes that “Jack's friends would also follow him and see what he finds so special about Accra.”
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Meet the OPay Mafia: alumni of OPay who have started companies that are currently building tech-enabled solutions for Africa.
A THREAD
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Are you new to tech or looking to transition into tech?🚀
Then get in here!
On April 30th at 4:00 PM WAT,
@folasade_daini
,
@AdoraNwodo
,
@AderinsolaO
and
@_IbraheemAgbaje
will be providing insights on career paths to explore within the tech industry.
See you on TC's IG!✨️
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Through the long flight hours and jet lag, the
#PitchdriveII
founders, at the end of each pitch event, never fail to passionately go on to further discuss their startups and the problems they solve across Africa.
#StoreisfromPitchdrive
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CBN: “You'll get 5naira for every dollar remitted”
Also CBN: "You will have to pay 6naira for every USSD transaction"
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One day of internet shutdown in Nigeria could cost the economy $134m (₦51.1b).
A week shutdown could cost $939.7m (₦358bn), which is more than the 2020 budget for the Power (₦135bn) and Agric (₦183bn) sectors combined.
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Ping Express CEO Anslem Oshionebo, 45, and COO Opeyemi Ode, 43, have been reportedly sentenced to a combined 8 years in US federal prison for money laundering.
Here is what you need to know 👇🏽
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It has been 561 days since Ethiopia blocked access to the internet in the Tigray region after prime minister Abiy Ahmed ordered a military offensive on the breakaway region in November 2020.
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LemFi has raised $33 million in Series A funding to simplify remittance payments for immigrants globally. The round was led by Left Lane Capital. Other investors included Y-Combinator, Zrosk, Global Founders Capital, and Olive Tree.
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Nigerian media company,
@StearsBusiness
raises $600,000 seed round funding to grow its team, data collection and information products.
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Get your early bird tickets to our next townhall: Emerging Tech. Early bird ticket sale ends on the 7th of February.
Use code: TCEM15%OFF at checkout.
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“When I joined the company, I was told there’s a chief technology officer named Greg, who’s from MIT, whom I’d meet someday. It never happened. After a while, it became clear what had happened.” Aboyeji told TechCabal.
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BREAKING: Andela has laid off 135 of its staff today, which is about 10% of the company. CEO Jeremy Johnson said the "gut wrenching" decision was necessary to ensure the company successfully navigates the present downturn.
Full details here
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Last Friday, HerRyde, a woman-only ride-hailing company, launched in Abuja. The company's plan is to provide a safer and more comfortable option for female drivers and riders while creating work opportunities for more women.
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How two Nigerian AI engineers built the world’s first pidgin-to-English translation model.
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Which of these tech founders would you rather hang out with tomorrow?
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The University of Ibadan now allows graduates of the school to process their UI transcripts online in a seamless and straightforward process. Keep reading to find out how to do it.
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Bosun Tijani, the CEO and co-founder of CcHub, a pan-African tech incubator, has been unveiled as a ministerial nominee for President Tinubu’s administration. Earlier today, Senate President Godswill Akpabio shared 19 more ministerial nominees submitted…
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Investors at Nigeria-based stock investment app, Risevest, have recommended that the company’s founder and CEO, Eke Urum, step down from his role due to ongoing investigations into allegations of sexual and non-sexual impropriety.
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On Friday, April 26,
@thebeyondlimits
will host the 2nd edition of the DICE ecosystem mixer, themed “Solve For Africa: Unlocking the Revenue Potential of the Creative Economy”.
This event is open to all industry practitioners.
Register here:
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@mykayiapp
is revolutionizing contemporary banking through its cutting-edge Super App and comprehensive suite of financial services.
Visit and download KayiApp now to transform your banking experience!
#MyKayiApp
#NowLive
#Kayiway
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What's your favorite Layi Wasabi skit?
In less than three years,
@layiwasabi
has become everyone's favorite with his hilarious characters.
Click the link below to watch Layi discuss how he creates these skits and the moment he knew he had "blown"!
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Jobberman’s new CEO Rolake Rosiji to steer greater tech adoption in Nigeria’s job market
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Before departing Kigali, the
#PitchdriveII
founders pitched in front of its first audience who, more than anything else, offered helpful feedback and criticism to help polish their pitches ahead of the events to come.
#PitchDriveAsia
#StoriesfromPitchdrive
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In 2020,
@burnaboy
was one of the most streamed musician in Sub-saharan Africa. His songs were streamed 435,570,000 times, followed by Diamond Platinumz, whose music had 291.98m streams.
1/ 🧵
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This is Bolaji Akinboro, Cellulant’s co-founder.
He was accused of financial misconduct and personal improprieties and was forced to resign in 2020.
Two years later, all allegations against him has been cleared.
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Join
@VertoFX
on a journey through Africa's business landscape! Explore mastering international pitches, navigating currency fluctuations, and forging strategic alliances for financial resilience.
Register:
#Verto
#BusinessAfrica
#FinancialResilience
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We are delighted to announce our partnership with
@GITEXAfrica
2024 as a Media Partner!
Register with the link below before early bird expires on 18th April 2024.
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Psiphon, Lantern and Tunnelbear are free VPNs that can be trusted to work on Windows, Android and Mac/iOS devices. Proton too.
Please share, in case this is our last tweet 😩
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Exclusive: YC-backed fintech Pivo Africa is shutting down: Pivo, the Nigerian fintech startup that offered banking services to small supply chain businesses, is shutting down one year after raising a $2 million seed round.
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Bumpa raises $200k pre-seed to build e-commerce solutions for African merchants
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Is Paystack creating a mafia? Ex-employees of the company are building high valued companies and greatly influencing Africa's tech ecosystem.
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