TechCabal daily: Which way Rocket?

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It’s Wednesday. Can you tell how excited I am? 😀

1. Which way Rocket? – Rocket Internet released its 2016 annual financial report yesterday morning and our day was not the same again. I went through the report so you don’t have to and here are a few interesting numbers. Jumia Group’s revenue dropped by 42% from €145 million in 2015 to €84 million last year. Rocket itself generated only €50.4 million in revenue in 2016, down by 61% from €128.3 million generated in 2015. Its losses also increased considerably from €197.8 million in 2015 to up to €741.5 million in 2016.

+ I expect that Nigeria’s currency crisis last year contributed to Jumia’s drop in revenue. Sad stuff.

2. From Otigba to Katangowa – The Lagos State Government decided yesterday that the Otigba boys‘ time was up. It announced that it was relocating the popular Computer Village situated in the Ikeja area of Lagos to a new location in the Katangowa ICT Park in Agbado/OkeOdo LCDA. Don’t ask me where that is cos I don’t know. The relocation is expected to “curb environmental degradation, housing stock deficit and traffic congestion in the Ikeja axis.”

+ My first reaction to the news was shock but after a few deep breaths, I started to imagine a possibility of no Computer Village in Ikeja. It feels like the market is an entity in its own right almost with a tangible personality and I’d like to see how the Lagos state government plans to execute this relocation. I expect that this will turn out to be a Tejuosho v2.0 so I’m obviously not holding my breath.

+ I rounded up some of the best reaction tweets following the announcement. You’re welcome. Link

+ Computer Village is a popular market for technology products and accessories located in Ikeja, Lagos. Here’s a primer on the origin of the market by Asemota.

+ Aside: Why is the Lagos State Government’s twitter account tweeting from the city of London? Hmm. Link

3. People in Egypt have been unable to use voice over internet protocol (VoIP) services all week, causing everyone to wonder if this is the handiwork of the government. The country’s National Telecommunications Regulatory Authority (NTRA) says it hasn’t done anything to disrupt VoIP services though, so what’s really going on? I think you guys already know what I think. New subscriber? Check here.


Get a job as Sales Manager in a growing technology company with offices in Lagos & Dubai and win a signup bonus of $500 in the required selection process plus a one free month intensive training on Sales & Digital marketing. Application deadline is April 26th. Apply here.


I found these interesting things for you…

+ In probably the best news you’ll read today, QZ reports: It took decades of research, but the world’s first malaria vaccine is finally ready for showtime.

+ The Lagos State Government will be launching the Educate Lagos platform later this week. It’s a repository of books, video tutorials, historical archives from the Lagos State Records and Archives Bureau (LASRAB), career guides, etc and etc. It’s actually a really cool resource and you can check it out here.

+ Yoruba Name is still crowdfunding for its Text-To-Speech Yorùbá project. So far, they’ve only reached 34% of their goal to build a “Siri for Yorùbá.” There are still 17 days left in the campaign so let the spirit lead you to donate something. Thanks and God bless.

+ Seyi Fabode on the myth of ‘the visionary founder.’ Seyi argues that founders should keep working to build their businesses and not be so obsessed with the grand ‘I-want-to-change-the-world’ vision.

+ MainOne is planning to construct a data centre in Ogun state, South West Nigeria, later this year. Link

+ Derin Adebayo tweeted this important thread on the major problem with e-commerce in Nigeria. He thinks it’s a UX problem. Link

+ Technology And Big Data Are Helping Cameroonians Protect Their Forests. Link

+ 20 startup pitch decks you should learn from, courtesy of Cranium One. Link

+ One more post to read because this Juicero juicer story has refused to go away. An inside look into the [in]famous juicer.

+ Short story that’s really an analogy of Nigeria’s lack of direction: The Central Bank of Nigeria directs all banks to accept National Identification Numbers (NIN) as valid means of identification. First Bank says no, we haven’t seen this directive so we’re not going to take it. The National Identity Management Commission then says it already has an online portal that banks can use to verify NINs so this shouldn’t be happening. Lovely.


Chatclass NG is offering a social media management course where participants will learn how to develop and execute social media strategies that deliver results. The program will feature thorough masterclasses to help you launch and grow a successful social media career. School’s already in session for April but you can register for May classes which begin on the 7th here.


Upcoming events…

Lagos: Digital Marketing & Social Media Workshop With Futuresoft, April 26th. Link

Lagos: Paradigm Initiative’s Internet Freedom Forum, April 26 to April 27th. Link

Abidjan: GSMA Mobile 360 West Africa 2017, April 27th. Link

Lagos: Lead Space Happy Hour, April 28th. Link

Lagos: ReactJs Workshop, April 29th. Link

Lagos: Berkeley Haas Africa Business Forum 2017, April 29th. Link

Lagos: Startup Grind with Bassey Eyo, April 29th. Link

Want to see your event in here? Add your event

Upcoming deadlines

Africa Entrepreneurship Award application deadline, April 28th. Link

Adansonia accelerator: Applications close on April 30th. Link

GoIgnite startup programme: Applications end on April 30th. Link

Up Accelerate: Applications also close on April 30th. Link

SpeedUp Africa: Apply before May 1st, people. Link


That’s all folks!

Thanks for your time. Make my day and share this with your friends and foes. Ciao!

It’s Wednesday and I’ve got my groove on thanks to today’s TechCabal digest. Get it here –