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TOGETHER WITH FLUTTERWAVE & AFROBYTES
09 - 01 - 2020

Welcome to TC Daily! Please subscribe to our newsletter if you are yet to and join us on Telegram as well for all technology stories from across Africa. 

There are many payment partners you could align your business with but if you are passionate about growing your business while giving your customers' their preferred method of payment, Flutterwave is your preferred payment partner. We provide you with the tools and resources to grow your business, because we know it's not just about payments, it's about scaling up. Click here to see how we can do this with you this year.

Airtel Nigeria has launched Airtel TV, a TV and video-on-demand app that allows users to stream live TV programmes and video content. Packed with localized streaming content, the app features movies, shows and musical content. It also features 17 Jollof Road episodes. For the live TV, the app offers live programming from Bloomberg, Trace, Al Jazeera and a number of TV stations. Unlike other streaming platforms, the Airtel app is free to use but only Airtel subscribers can register. Airtel TV is only the most recent example of a telco trying to gain a foothold in the digital space. With digital services like Facebook, Whatsapp and Skype gradually killing voice revenue, telecom companies are restrategizing. Many are prioritising non-voice revenue streams like data and are developing digital services. MTN, for instance, has launched a music streaming app, a social media platform and offers mobile money services in different markets.

Telecom company, Orange is planning a billion-dollar IPO for its Middle East and Africa (MEA) subsidiary. According to a report by Bloomberg, the French-owned Orange has selected Morgan Stanley and BNP Paribas to lead the IPO process for the unit. The company said a listing is one of the “potential scenarios” on its plate to drive growth for the MEA subsidiary which operates in 20 African and Middle Eastern countries and recorded $5.7 billion in revenue in 2018. Ahead of the potential listing, the telco opened a new MEA head office in Casablanca, Morocco, calling it a “symbolic message” and “proof of our desire to be even closer to our customers.” If it completes the IPO plan, Orange will join a number of African telecom units that have listed on the stock market since 2018.

VentureSouq, an investment platform, has exited Frontier Car Group (FCG), the used car marketplace that is available in 10 countries. According to Wamda, VentureSouq, an early-stage investor, has sold its stake to Naspers-owned OLX Group. This news doesn’t come as much of a surprise though. In November, OLX announced it will invest as much as $400 million in FCG as part of a Series D round. While part of the deal was cash-based, it also included secondary shares acquisition.

Ecosystems are built by strong communities. In Nigeria, while it seems like most of the tech community is in Lagos, there are a few communities working hard to spread the knowledge of tech and improve ecosystem access for people outside Lagos. For the latest article in the My Life in Tech series, Kay Ugwuede profiles Uche Aniche, the convener of #StartupSouth, an annual tech conference held in the South-East and South-South geopolitical regions of Nigeria.

Little, a Kenyan car-hailing company backed by Safaricom, has shut down its bus shuttle service for an indefinite period of time. In a tweet announcing the decision, the company did not disclose why it stopped the service. This is the second shut down since last year. In September 2019, Kenyan regulators blocked Little Shuttle and Swvl from operating due to wrong licences. They later resumed operations in October 2019.

The countdown to Afrobytes 2020 continues. Afrobytes is the premier event that brings together entrepreneurs, innovators, investors, and more to explore business opportunities between the African tech ecosystem and players in the global tech world. Here are key reasons why you should attend Afrobytes 2020:

  • Finance: pitch world-leading Africa-focused tech funds
  • Network: connect with global companies and African tech leaders
  • Scale: find tech partners at the largest startup campus
  • Feature: talk to international media covering African markets

Get your early bird ticket here

Nigerian fintech company Paga has appointed Ian Cleverly as its new Group Chief Financial Officer (CFO). Ian joins Paga with over 20 years of experience in finance roles across multiple industries including telecom, FMCG and financial technology. Before his appointment, Ian was CFO at Maistro Plc, an online procurement platform.
Trove is one among a handful of Nigerian fintechs launched in the last 18 months with a big ambition: to democratize access stocks traded on the most valuable global stock exchanges. Alexander Onukwue provides a deep dive into how Trove is making this possible.

The Nigerian payment space is now extremely competitive with dozens of startups providing people with better ways to make transactions. Thanks to impressive innovation and government regulatory pressure transfer charges continue to go down and potential revenue margins continue to get trimmed. In this article, I write that companies may need to rethink their distribution models if they want to be successful in 2020.

Over the past year, we've brought together industry stakeholders, policymakers, investors and key sector players in various sectors from healthtech to edutech to spur conversations about these sectors and explore new opportunities and/or collaborations. Come February 28, 2020 the next TechCabal townhall will focus on: Emerging technologies including 5G, Artificial Intelligence, Augmented Reality/Virtual Reality, Cryptocurrencies, Robotics and 3D Printing. TC Townhall: Emerging Tech will examine how these technologies are changing (and will change) how Africans live and do business. Want to attend? Indicate interest by filling this form. Are you a member of the press, fill this form to qualify for a pass. Do you have a startup or project with any of these technologies at the core? Tell us about your project or startup here. Have any ideas about the event or suggestions about speakers? Send us an email via team@techcabal.com and we just might make your wish come true. For sponsorship inquiries, please email Chidi via chidi@bigcabal.com.
And just before we go, a correction. In yesterday's newsletter - 08/01/2020 - we wrote that Kendi Nderitu had been appointed Google Country Manager for Kenya. We were wrong. Nderitu was hired by Microsoft, not Google.
That's it for today!
We'll see you tomorrow. - Abubakar       Share TC Daily with your friends!
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