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08 - 11 - 2019

Hello! Welcome to today's edition of TC Daily. If this was forwarded to you, please take a moment to subscribe. You can also join our Telegram channel for the latest stories in the African tech ecosystem. Be a part of our community - don't miss out!

Twitter CEO, Jack Dorsey, arrived Nigeria on Thursday. It's a major stop in his four-country visit of Africa, in which he is scheduled to meet entrepreneurs and ecosystem builders in the tech space. TechCabal will bring you inside gist on the conversations Jack will be involved in during his stay. Keep an eye out for articles giving you first-hand information on this.
Why do Nigerian banks find retail lending "very terrible"? Following the recession that took place three years ago, fintechs swooped into the lending space and eased the process for customers to get loans. Over the last two years, however, banks have entered the consumer loans business to compete with startups like Carbon and Renmoney: Sterling Bank launched Specta and GT Bank created QuickCredit. Both have lower interest rates than startups. With the Central Bank of Nigeria insisting that banks lend more through its new policy, Abubakar Idris takes us through the nuances of lending in Nigeria, showing the developing battle between banks and fintechs.
MainOne is looking to land in Akwa Ibom and spread to more parts of the southeast and south south region, according to CEO Funke Opeke.  That was one of many highlights from TechCabal's week-long stay in Uyo for the 5th edition of StartupSouth conference last week.  The conference saw a variety of panel sessions and 60 parallel sessions covering business, technology, lifestyle, personal development, funding, and policy. Read Kay's roundup of the major conversations at the conference, including the pitch session won by a palm oil processing company.
Tizeti has completed its 4G-capable tower in Port Harcourt, Rivers state and has now launched its first 4G LTE network. The company's solar-based internet service offers customers an unlimited plan at N9,500 ($26) per month. The startup expanded its operations to Ghana earlier in the year and plans to take its model to additional West African countries in 2020, says CEO and co-founder Kendall Ananyi.
Join Gossy Ukanwoke, President of Beni American University at TC Townhall: Edtech & the Future of Work Gossy Ukanwoke is a Higher Education Investor, Founder at Beni American University and is widely recognized globally for his support and contributions to the growth of education technology. In June 2016 he was named one of the Makers and Shakers of EdTech by WISE and Qatar Foundation. Gossy is the President of EduTech, a technology company focused on helping African traditional universities take their on-campus degree programs online. TC Townhall Edtech & the Future of Work will hold on November 29, 2019. We are bringing together regulators, government agencies, investors, entrepreneurs, NGOs, social enterprises and schools to set a strong agenda about how to use technology to leapfrog Africa’s education challenges and prepare our citizens for future jobs. Buy your tickets here. To enjoy our early-bird discount, click here or use the code TCEDTECH at checkout. Further discounts apply for companies/individuals buying at least 5 tickets. Please click here to enjoy our corporate discounts.
Over 30 startups have placed themselves on TechCabal's map of the African edtech industry. If you have an edtech startup or you are a technology company doing significant work in the industry we would like to hear from you. Please fill this form.
ZOLA Electric, a leading solar brand, and Wananchi Group's ZUKU TV division, have partnered up to offer bundles of solar home TV systems and digital TV subscriptions and other services in Tanzania. ZUKU's understanding of the entertainment market complements ZOLA’s distributed renewable energy systems with its satellite PayTV. With a combined nationwide distribution footprint, technology prowess and experience in content programming, ZUKU and ZOLA hope to expand access to enhanced news and entertainment in the Tanzanian market.

MultiChoice Group, owners of DStv, said it expects to report significant profit for the six months to 30 September 2019.  It could be a cheery announcement for investors in the company as the profit leap comes " despite continued macroeconomic headwinds faced across the continent, which are impacting disposable income at a consumer level”, according to a company statement. Core headline earnings per share will be between 20% and 25% higher than the R3.52 reported in the interim period a year ago, it said in an update to investors. MultiChoice will publish its results on 11 November.

In Guinea-Bissau, you could run into the president's wife at a supermarket at least once a week. Fuad, Toke, Kayode, Tosin and Captain Taiwo learned this over a two-day stay in the tiny city of Bissau. They have now set sights on the Gambia, the 8th country to be covered on the #JollofRoad trip. What will they find in the smallest country within mainland Africa? Visit jollofroad.com every day to catch up on all the stories from the road! And join the conversation on Telegram and WhatsApp.
CcHub has unveiled an African augmented reality art experience “Nyota” to celebrate 24 of Africa’s technology pioneers such as Jason Njoku, Iyinoluwa Aboyeji, Funke Opeke, and Rebecca Enonchong. The project aims to draw acclaim to stars (english for Nyota, a swahili word) that have contributed immense value to the growth of the innovation and technology ecosystem on the African continent. Check out all your Nyota faves here
Cedar Hive Incubator & Co-working Space acquired MEST Africa Coworking Space in Lagos on the 1st of August 2019 located at 19b Adeyemi Lawson Ikoyi, Lagos. Cedar Hive Incubator & Co-working Space is a project of Cedar Operating Partners Limited- a member of the Cedar Financial Services Group with interests in Investment Banking, Insurance Brokerage and SME Lending. Cedar Hive aims to establish a process of consistent start-up creation and development, built using an interdisciplinary body and an inventive, yet highly effective infrastructure.
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