TechCabal daily: How high can you go? 💰

Hey there! Today’s TechCabal digest is brought to you by Tizeti; they are offering Lagos residents unlimited internet for N5,000, and you can sign up for that here. Here’s everything interesting in African technology today. If you’re reading this, you’re probably not subscribed to TechCabal’s daily digest. Click here to get this goodness in your mailbox every day at 7am (GMT +1).


Major stuff happening…

1. African tech startups raised $366.8 million in VC funding in 2016 – This is according to a new report released by Partech Ventures. Series A funding averaged $3.7 million per transaction last year and even though Nigeria accounted for the largest funding amounts raised (29.8% of total investments), South Africa accounted for the highest number of transactions (36.4% of total transactions). FinTech, e-commerce and off-grid tech sectors recorded the highest volume of investments in 2016. 

+ This is really interesting seeing as Disrupt Africa’s report earlier this year recorded tech funding in Africa in 2016 at around $129 million. That’s an over $230 million difference. Only reason I can think of for this discrepancy is that there were definite differences in their methodologies and both organisations define an African tech startup differently.

+ What does this mean for current data on African tech? It’s something to ponder.

2. Interesting article on iAfrikan chronicling 10 years of MPesa as it marks its birthday in March. New regulations are moving to reduce MPesa’s market dominance and make Kenya’s mobile payment space more competitive. Looking forward to the next 10 years. Link

3. Verve accepted here – Interswitch is expanding its Verve payment solution across Kenya. It announced an integration with 12 more Kenyan banks to open up more merchant locations, products and services that customers can pay for using their Verve cards. Link.

4. Seedstars Growth Series – Seedstars has just introduced a 12-week Growth Series Masterclass for startup founders and entrepreneurs. They’ll learn the essentials of positioning their business for growth and get access to the tools, tips and resources needed to figure out how to achieve up to 30% growth in a business/startup. The first masterclass is free and its happening at Seedspace, Lagos. Register here.

5. DataHack4FI – The DataHack4FI Innovation Competition is happening in Lusaka, Zambia next month and it’s open to data specialists (analysts and software developers) & financial service providers. Participants are invited to use data to create innovations that address low financial inclusion in Zambia. Applications are to be filled online and shortlisted applicants will be invited to take part in the hackathon between March 24th and 26th. The best ideas from the hackathon will progress to a four-week acceleration programme where they will receive support to further develop their idea. Interested data aficionados can apply here.

6. There hasn’t been internet access in Anglophone Cameroon for 43 days now.


Entrepreneurs are invited to apply to Ventures Platform‘s (VP) accelerator program. It’s a 4-month program that’s designed to support startups at the MVP stage with mentorship, business re-engineering, workspace, living space, back office support, shared services and seed funding. Deadline’s March 11. Link.


Other interesting things…

+ Who is in charge of the Nigerian Bureau of Statistics’ infographics? They’ve been looking peng lately. I like.

+ In other peng news, Fibre.ng updated its website and added user profiles. Link

+ Lol. Cheeky announcement that Cafe Neo is now in Ikeja.

+ Facebook is now receiving applications from those who’d like to attend its F8 annual developer conference. Of course, if you’re like me and pertinent national issues will not permit you to be in San Jose next April, you can register to be part of the event online. Link.

+ Speaking of pertinent national issues, it appears there’s a House of Reps Members Wives Association of Nigeria and they’re hosting a 2-day retreat today and tomorrow. Oh to be a fly on the wall at the event.

+ The US FCC chairman said yesterday that net neutrality was a mistake and the commission would return to a much lighter style of regulation. I blame Donald Trump. 

+ 6 people are in space right now. I know this because there’s a website that tells you just that. Link.

+ Also, 6 words of the day so you can start speaking like Don Quixote. Link.

+ Why game developers should continue making video games even though the world is going up in flames. Link.


Hot topic(s) on TechCabal Radar

+ We’re hosting an AMA session with Fola Olatunji-David, Ventures Platform’s Incubation Manager on Thursday, March 2nd at 2pm (GMT +1). If you’d like us to send you a reminder when the session is about to commence, let us know here.

+There’s a new peer to peer lending platform in town. Fint’s CEO is on Radar for any questions or comments. Link.

+ Discussion on the progress of Linda Ikeji’s numerous businesses veered off into whether tech founders should have software development skills. Gotta love Radar.


Upcoming events…

Lagos: Social Media Week is ongoing. Plan your waka with the full schedule here.

Johannesburg: Blockchain Africa Conference from March 1st to 3rd. Link.

Nairobi: SWIFT FinTech Innovation Africa Workshop, March 2nd. Link.

Paris: Africa Digital Communication Conference , March 3rd. Link.

Lagos: Cranium One’s pitch dating and networking session, March 3rd. Link.

Lagos: Comic Connect is on the 4th of March. Link.

Please help our events aggregation algorithm get smarter! Add your event


Upcoming application deadlines

TEEP: The Tony Elumelu Entrepreneurship Programme application deadline is today. Link

UberPITCH: Kenyan entrepreneurs, deadline to submit your video applications is today. Link.


That’s all folks

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