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25 - 04 - 2019

Welcome to today's edition of TC Daily If this mail was forwarded to you, please take a moment to subscribe so you don't miss out on future editions.

How much money will you like to have in the next five years? African Alliance Insurance Plc is promoting the benefit of investing early and your money habits will determine if you are able to reach your financial goals or not. If you want to make smart choices with the money you make, African Alliance Insurance has something very special for you. Click here. Share this with a friend, colleague or anyone around you. Visit for more details. Follow African Alliance on Instagram and Twitter.

South African MTN's anticipated listing on the Nigerian Stock Exchange will not be happening through an IPO. It will be listing by introduction instead. This means it will be listing already existing shares without issuing new ones or raising new funding. Prior to this, MTN converted its Nigerian arm into a public company as a legal requirement for its listing expected to happen by June 30. MTN's listing in Nigeria has been delayed by protracted disputes with the government: a 2016 dispute that led to a US$1.7 billion settlement and a 2018 dispute that led to a US$53 million settlement. The IPO was part of agreements reached with the Nigerian government as part of its US$1.7 billion settlement. In 2018, MTN successfully pulled off a mobile money IPO in Ghana through its mobile money service, Momo Wallet. It plans to launch a mobile money service in Nigeria this quarter.

Digital money transfer company, WorldRemit and Paga, Nigeria’s first and leading mobile money company have joined forces to launch international digital money transfers in Nigeria. Using the WorldRemit app or website, Nigerians living in over 50 countries across the globe will be able to send money quickly and securely to over 11 million Paga users. With a diaspora of 15 million people, remittances play a significant role in Nigeria’s economy. Last year, the inflow of remittances was an estimated US$25 billion, the highest recorded in Sub-Saharan Africa. Money can be directly sent to recipients using their mobile phone numbers which they receive instantly in their Paga wallets. Learn more about WorldRemit x Paga's digital money transfers here.

Liquid Telecom is hosting Massachusetts Institute of Technology’s (MIT)’s 2019 MIT’s Inclusive Innovation Challenge (IIC) in Africa for the first time. The challenge will take place under four categories:  technology access, financial inclusion, skills development and opportunity matching, and income growth and job creation. A total of US$1.6 million will be awarded this year and the challenge will culminate with a Global Grand Prize Gala at MIT in November. Registration is now open and closes May 9.

The Africa Fintech Foundry is hosting the second edition of its Africa Fintech Foundry Disrupt Conference next month. This year's conference is themed Digital Goldrush: Building a Sustainable Tech Economy. The goal of this conference is to bring together private stakeholders and government institutions to discuss issues, proffer solutions and chart the course for the new era of Africa's tech revolution. The event will take place at the Landmark Centre, Victoria Island, Lagos on May 16, 2019 from 9:00 am. To learn more please contact Oluwaseyi Balogun on +234 812 815 6327 or Anita Odiete on +234 818 244 0889.

Ride hailing company, Uber, has launched a new service for its Nigerian users. Riders can now leave tips in-app for drivers whose rides they've enjoyed. The new tipping option will only be available for card trips and riders can choose from preset amounts or make a custom tip if they desire. The tipping service was launched in 2017 and rolled out in 100 cities in the U.S. and Canada after years of reluctance and deliberation. Of course, tipping isn't compulsory but with drivers who go the extra mile, figuratively, parting with some extra cash won't hurt.

We recently launched an in-depth report about The State of Health Tech in Nigeria. Here's an interesting fact: the health tech sector in Nigeria is 15 years old. That's half the age of the web. In this time, US$7.88 million has been sunk into the sector in funding to date, with the earliest funding received in 2014. 30% of the 90 startups we profiled are women. Get the full report here to learn more. We understand that there may have been unsuccessful attempts by interested parties to buy the report and will like to know what the challenges are. Send a reply to this email and we will attend to it. Kindly note that we are also accepting bank transfers for purchase of the reports. If you'd like to purchase the report through a bank transfer, also send a reply to this mail and we will attend to your request.

A new angel investor network has launched in Benin Republic. The Benin Business Angels Network (BBAN) is bringing together local and diaspora entrepreneurs, investors and professionals to fund and offer support to Benin-based startups. Its 15 founding members will invest an annual minimum of CFA2.5 million (US$4,300) as well as mentor and connect startups to networks that will help them scale. Angel investor groups are increasingly coming up on the continent as a solution to funding and mentoring gaps for African startups. Recent launches include the Dakar Network Angels in Senegal and the Togo Business Angels Network in Togo, all spurred by the work of parent initiative, the Africa Business Angels Network (ABAN).

In its technology and innovation drive, South Africa's State Information Technology Agency (SITA) and Free State government will, this week, begin launching Schools of Software Engineering throughout the province. SITA is providing each of the schools with 40 computers, connectivity, a curriculum, mentors and other technical resources necessary to make it effective. The launch will kick off with five schools that have shown admirable academic success and students will learn skills in coding and software development among others.
A Nigerian startup that allows individuals plan their estate online has emerged the sole Nigerian startup shortlisted in the United Nations’ 40 Most Innovative Startups in 2018. On, individuals can write their Wills in 15 minutes or less, have it reviewed legally, take delivery of its documentation at their convenience and ensure it takes effect. The World Summits Awards was contested by 400 companies from across the globe.
SoGal Foundation, a global nonprofit platform for diverse entrepreneurs and investors, is launching a Nigerian chapter. The chapter will continue the foundation's drive to educate and foster community building for entrepreneurs and investors while considering the peculiarities of the Nigerian clime. The inaugural event is scheduled to hold this Friday, April 26, 2019 from 7:00 pm - 9:00 pm at the MEST Incubator Ikoyi, Lagos. Here is a link to register and receive access details.

Here's an opportunity to join Andela as a Junior, Mid Level or Senior Software Engineer. To join its fellowship program as a junior engineer, apply using this link. If you're an experienced software engineer, apply using this link.

From TechCabalHow Product Designers and Managers Can Build More Inclusive ProductsTo Drive Inclusion, Fintech Solutions Should Focus on Last Mile Users

That's all for today.

We'll be back tomorrow.   - Kay
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