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20 – 08 – 2019

Hello, 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. 


Your dreams can come true with the right investment plan.

In the last few years, thousands of youths in Nigeria have used the African Alliance Insurance PLC investment plan to achieve goals that are ordinarily deemed impossible.

The Alliance Investment Plan is an investment plan that can be taken for as little as N5,000, with a 5% interest rate and an additional life cover.

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What3words, a UK-based addressing platform startup has partnered with South Africa’s ER24, an emergency services organization to shorten the time it takes to reach emergency locations and victims. What3words has assigned every 3×3 square meter of the globe a 3-word code that will never change, making it easier to find the most obscure locations. ER24 will now depend on the addressing system to send the closest ambulances to emergency sites including remote locations. In 2017, Nigeria’s postal service reportedly adopted the platform as its addressing system but not much was heard about the partnership afterwards.

The Africa Technology and Creative Group’s (ATCG) two-day meet-up in Kigali ended last Friday. The group made recommendations on its governance structure, definitive guide on its goals and objectives with relation to the implementation of the Africa Continental Free Trade Agreement (AfCFTA). Day two of the event included a session by Norbert Haguma, co-founder at AfricaGen, about the African Digital Index (ADI), a set of indices it developed to evaluate the readiness of economies on the continent for the digital age. An inaugural board including CcHub founder ‘Bosun Tijani, Vuyisa Qabaka, Simeon Umukoro, Iyin Aboyeji, Norbert Haguma, Ojoma Ochai and our CEO, Tomiwa Aladekomo was named as part of the summit’s final recommendations. Oby Ezekwesili and Tunji Lardner were named as advisors.

Safaricom-backed ride-hailing service, Little has partnered with Kenyan low-cost airline, Jambojet with the aim of growing its customer base. Little will provide discounted rides to Jambojet’s travellers for three months to and from airports in Nairobi, Mombasa, and Kisumu. The ride-hailing platform is looking to give its competitors which include Bolt (Taxify) and Uber a run for their money. Little was the third-largest ride-hailing service in Kenya as of February 2018 according to the Kenyan Wall Street. It was reported that it was seeking $100 M to fuel its expansion across Africa.

The #PitchdriveAsia Tour organised by CcHUB in partnership with GoogleforStartups starts tomorrow. Ten African deep technology and hardware startups will converge at the Design Lab in Kigali, Rwanda for a two-day bootcamp and continue through five Asian cities known for their deep tech and hardware ecosystems. Learn more here and sign up to follow the tour.

On the 27th of September 27, 2019, TechCabal will convene the most knowledgeable and influential entrepreneurs, investors and policymakers in the mobility industry for TC Townhall: Mobility. Speakers include Uche Ogboi, Chief Operating Officer at Lori Systems, Kola Tubosun, Linguist for African Languages at Google; Taiwo Ketiku, VP Investments at EchoVC; Chinedu Azodoh, Co-founder at MAX; Oluwatoyin Oshinowo, Co-founder/VP Product at FieldInsight; and Emeka Ajene, MD/Co-founder at Goziem.

Purchase your ticket to the townhall now, and receive a 10% early bird discount using the code: TCMobility. Further discounts apply for companies/individuals buying at least 5 tickets. If you require the discount code for that, please fill this form.

OPay’s journey to Super App status is advancing very quickly The company has launched OBus, a bus-hailing service, just a week after it announced a Keke-hailing service (auto-rickshaw hailing), OTrike in Aba, South-east Nigeria. A lot has changed since May when OPay’s intention to be the leading payments app in Nigeria  (and beyond) was first revealed with the launch of ORide. In July, it closed a $50 million round backed by some of China’s most innovative companies. So far it’s launched OFood, ORide, OTrike and now OBus. According to a certain Twitter user, Samuel Ekpe, there might be more and he alleges that OPay’s plan is to compete directly with Jumia as well as get listed in 3 years. 

OPay’s numbers are quite impressive. Daily transactions volume on the platform is about $5 million. Its aggressive expansion could help it grow that volume significantly.

Tunisia’s former ICT Minister and Co-founder of B@LabsMr Noomane Fehri, has announced the launch of the Maghreb Angel Investor Network. The announcement came after a programme held by Flat6Labs Tunis, in partnership with Attijari Sicar, B@Labs and the International Finance Corporation to train high-networth individuals about investing in tech startups. There’s been a steady increase in angel networks across the continent to meet it’s growing demand for early-stage capital and more.

Crowd-funding platform, Uprise.Africa is launching a $2.6 million campaign to fund a documentary series about the life of Reeva Steenkamp, who was murdered in 2013 by athlete Oscar Pistorius. The documentary is titled My Name is Reeva and it will be directed and produced by Warren Batchelor with co-producer Tony Miguel. The campaign is offering a 50% for the target money and is currently open to private funders. It is likely to be open to the public in September. The creators hope to tell the story of the murder through the eyes of Steenkamp’s family and loved ones.

In a chat with Techpoint, Kyane Kassiri, Associate VC at Lofty Inc Capital Management, said that the organization is raising a $60million fund as well as a local fund for Nigerian investors that want to be part of it. LoftyInc Capital invests in early-stage sub-Saharan-African startups within the initial focus on Nigeria. Some of its portfolio companies include Flutterwave, Printivo and Kange/Reliance HMO.

Regional startup and technology publication, MENAbytes has been acquired by Egypt’s RiseUp. RiseUp is the company behind Rise Summit, one of the region’s biggest entrepreneurship events. The acquisition includes trackMENA a data platform for startup and funding information. MENAbytes will remain an independent media platform while integrating with RiseUp’s digital content unit.


Thanks for reading,

See you tomorrow.
– Olanrewaju

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