| Situational awareness: GT Bank, a major Nigerian bank, has reduced the interest rate on its digital lending platform, QuickCredit. It now offers loans at 16% interest rate per annum, down from 21%. Why is this important? Nigerian banks are stepping up to meet the loan threshold set by the Central Bank of Nigeria (CBN). Banks have to either loan up to 65% of their deposits, discourage new deposits or face a regulatory penalty. To pull off more lending and be effective at it, a few banks are leveraging their technology, developing digital lending platforms that compete with fintechs; And compared to the 30% interest that some fintechs charge, bank loans like those from QuickCredit are way cheaper. |
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Zimbabwe will allow live streaming of court cases starting from 2020. The country’s Chief Justice, Luke Malaba, announced the move on Monday, January 13. According to him, this would support transparency, accountability and confidence in Zimbabwe’s legal system. It won’t be the first time the country has allowed live streaming of court cases. It live-streamed the 2018 presidential election petition, an event Malaba said is the “most-watched court case” in recent times. |
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Applications are now open for Andela’s StackUp, a 5-months developer entry-level programme. It is open only to Rwandans and helps to upskill would-be developers for careers as software engineers. Application closes on January 20. |
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Okuafo Foundation, a Ghanaian agritech startup, has been awarded $600,000 after winning the food category at the Zayed Sustainability Prize 2020. Organised by the government of the United Arab Emirates, the Prize acknowledges and rewards innovators. Okuafo Foundation was rewarded for developing an offline AI solution that detects crop diseases even in their early stages. According to Venture Burn, the solution has helped 30,000 farmers in West Africa to improve their harvests by 50%. |
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In 2018 Uganda introduced a “social media tax” to use internet platforms like Whatsapp and Facebook. But how does it work? Olumuyiwa Olowogboyega provides some answers. By speaking with a Nigerian who is schooling Uganda, he is able to paint a picture of how digital life is in the country and how people are adjusting to the tax. |
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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
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Nigeria is planning to join a number of countries introducing digital taxes. The West African country recently signed a new finance bill that expands the tax bracket to include digital service providers. In my article, I explain that although no policy statements have been made public regarding this, the new law gives the Minister of Finance full power to carry out the tax plan with minimal legal and political hiccups. |
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The Institut français du Nigéria is holding the second edition of The Night of Ideas in Nigeria on Thursday, 30 January. This free event is an annual, worldwide event that celebrates the stream of ideas between countries, cultures and generations. Themed “Being Alive”, this year’s edition will gather a dynamic audience who will express what being alive means to them. Speakers include Maboula Soumahoro, a French scholar; Amara Nwankpa, the Policy Director at the Yar’Adua Foundation; and Iheanyi Onwuegbucha, Curator of the Centre for Contemporary Arts, Lagos (CCA, Lagos).
Click here to register for this event. |
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| Apply for the Nigeria Off-Grid Energy Challenge 2020, a competition looking to identify electricity solutions for underserved areas in Nigeria. Successful applicants will be awarded up to $100,000 through equity and debt funding. Click here to apply. |
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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. |
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That’s it for today,
See you tomorrow
– Abubakar
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