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31 - 10 - 2018

Welcome to today's edition of TC Daily. Was this forwarded to you by a friend or colleague? Do take a moment to subscribe so you don't miss out on future editions.

We are pleased to announce that Blockfinex is set to launch. Our fully regulated crypto exchange will be facilitating the purchase of cryptocurrencies with fiat. To address the current issues faced by traders with the available cryptocurrency exchanges, we are surveying crypto traders. Click HERE to take the survey.

A report by Endeavor Insights has proposed that for entrepreneurship communities in emerging markets to be more productive, decision makers need to incentivize people who have led companies that reached scale to share their knowledge, capital and resources with other founders in their cities. The report titled “Fostering Productive Entrepreneurship Communities: Key Lessons on Generating Jobs, Economic Growth, and Innovation," used network analyses to assess the collective impact of founders, investors, and other actors in entrepreneurship communities. By examining entrepreneurial communities like Bangalore and Nairobi, the study found that entrepreneurial ecosystems become more productive by generating a small number of companies that reach scale. Check out the main report here and an addendum on specific cities studied here.

South Africa's Bank Zero has begun alpha testing. The fintech startup founded by the former CEO of First National Bank, Michael Jordaan, was registered as a mutual bank in August. The startup integrated with the national payments system operated by the South African Reserve Bank last month and plans to begin beta testing in Q1 2019. It has already signed partnership agreements with MasterCard and IBM.

The MasterCard Foundation has provided grants worth more than $9m to nine companies through its Fund for Rural Prosperity (FRP). The selected companies include Kenya's Apollo Agriculture ($1.09m), Uganda's SolarNow ($740k) and Ghana's Farmerline ($692k). Others are EasySolar, Dodore Kenya, FutureLink, Microcred, Stewards Globe and Equity Bank Congo SA. The FRP, a $50m challenge fund aimed at supporting projects that promote financial inclusion for the poor now has 30 projects in its portfolio.
GDGLagos is hosting #DevFestLagos 2018 on Nov 3 at Zone Tech Park, Gbagada. Developer experts like Ire Aderinokun, Prosper Otemuyiwa and Aniedi Udo-Obong will be there to talk all things software development. Register here to attend.

First Bank of Nigeria has commercially  launched its WhatsApp Banking service in partnership with Clickatell. Customers will now be able to perform balance checks, transfers and payments, among others, via Whatsapp. First Bank joins other Nigerian banks like United Bank for Africa and Access Bank whose customers can already initiate banking transactions via WhatsApp.

Nairobi-based VC firm, Novastar Ventures, has raised $72.5m for its second fund which will invest in early and growth stage enterprises in East and West Africa. It will open a Lagos office with the new fund. The fund is backed by AXA Investment Manager, CDC Group, European Investment Bank, Dutch Good Growth Fund and FMO.

Airbus and GIZ are calling for applications to the #Africa4Future accelerator programme. The accelerator is seeking African startups with solutions in unmanned logistics and remote sensing technology. Find out more and apply here before November 30.

GTR Ventures has invested an undisclosed amount in Orbitt – a pan-African trade and investment platform. Orbit connects investors with opportunities and has facilitated over $100m of equity, debt and trade finance transactions to date.

Cloudfare has entered into Lagos, its 155th city. The web performance and security company has already secured connections to local subsea cable operators and local internet exchanges. Its aim is to deliver content locally and to help users connect faster to websites it proxies. Cloudfare is currently preparing for an IPO that could value it at more than $3.5 billion, according to the CNBC.

NEoT Offgrid Africa has invested an undisclosed amount in Nigeria's Sabon Gari Energy project. The project was developed by Rensource Energy to provide power to MSMEs in Sabon Gari Market, Kano State. Other investors in the project include Solad Power Holdings, Sissli, and System Trade Services.

Applications are now open for the 2019 DAAYTA programme. The programme is powered by ARM and Technovision. Young people (18 - 30 years) with solutions that have a social impact can apply here before November 25 for a chance to win 12 million naira and other benefits.

Comic book, Karmzah is now available on Afrocomix. The work was created by Ghanaian artist, Farida Bedwei and features a superheroine with celebral palsy. Bedwei hopes her creation will improve social attitudes towards people with cerebral palsy and other disabilities.

From TechCabalAn Insider’s Take On How Nigerian Students Use Social Media + The War Against Cash Is Solving The Wrong People’s Problems

That's All.

We'll be back tomorrow.    - Olanrewaju.
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