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21 – 01 – 2020

Good morning and thank you for joining another edition of 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. 

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“Houses in many parts of Lagos are poorly built, far from commercial centres and expensive.

TechCabal’s Abubakar Idris says Muster, a shared housing marketplace is becoming Nigeria’s Air BnB. The company is trying to solve a housing crisis in the megacity of Lagos.

How do they hope to solve the problem?

By using technology to match people with flexible rental and affordable options.

Here’s an excerpt from Abubakar’s article:

“The platform works like Airbnb and Badi, a Spanish rental service. Regular property owners can put their properties and other available spaces up for rent on Muster. By listing on the platform, property owners are able to optimize their spaces and turn them into a revenue stream.”

Here’s a poser: How many African startups co-founded by women raised over $1 or more million in 2019?

This is the question Briter Bridges answers in its “African financing landscape” report 

How do the numbers look?

While the African continent saw a lot of funding activity, only 13 companies co-owned by women raised $10 million or more in 2019.

Here’s some context:

11.5 % of venture capital raised last year in the US went to companies with at least one female co-founder.

Be sure to give the report a look! 


“We do not allow apps that promote personal loans which require repayment in full in 60 days or less from the date the loan was issued”

Opera’s Lending Businesses Under Scrutiny 

Opera is known as the company that supplies their popular web browser with the same name.

But the company has a Digital lending service across Kenya (OPesa), Nigeria (OKash/Opay) and India (OKash). Although the company has seen increase in revenue from its lending business, it is not without its own problems.

Is Opera violating Google’s Policies?

A new report says it is, citing predatory policies which violate Google’s guidelines.

What’s next?

OPesa has disappeared from Google Playstore and it seems a matter of time before Google takes action. Read all about it here.

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

Safaricom to launch 5G in Nairobi?

“The spectrum envisaged for the first round of 5G rollout is already with the operators who are expected to refarm their formerly assigned WIMAX frequencies in the 2.5 and 3.5Ghz bands.”

After a routine test last week, Safaricom appears on course to roll out 5G in Kenya later in the week. 

Rad all about it here.

Janngo launches €60 million Janngo Capital Startup Fund 

Janngo Capital Startup Fund is part of Janngo’s broader commitment on financing the SDGs in Africa, as a member of the Goalkeepers Community and the Global Future Council on the New Economic Agenda of the World Economic Forum.

Here’s a snippet from Fatoumata BA, Executive Chair of Janngo and Managing Partner of Janngo Capital:

“At Janngo, we believe that talent is equally distributed between men and women but opportunities aren’t; especially in terms of access to capital. That is why we are proud to be a female-led VC fund investing 50% of our proceeds in startups founded, co-founded by or benefiting women.” 

Here’s the big story here.

Edustart Summit 3.0 holds on Tuesday, January 21, 2020, at Covenant University, Ota, Ogun State, at 10 am.

Past editions have convened over 2,000 industry experts, policy analysts, tech enthusiasts, educators, and students, with a focus on Quality Education (SDG 4).

Who is going to be there?

Speakers for this year include Dr Akinwumi Adesina, President of the African Development Bank; Prince Dapo Abiodun, Governor, Ogun State; AAA Atayero (Vice-Chancellor of Covenant University), Isreal Ovirih (CEO of Banklink), Yomi Adedeji (CEO of Softcom), among others. Learn more about the event here and register here.

On February 28, 2020, TC Townhall: Emerging Tech will convene entrepreneurs, investors, policymakers and corporate organizations including telcos and financial institutions to examine how businesses, individuals and countries across the continent can maximize the benefits of emerging technologies, specifically AI and Blockchain. 

There will be a session dedicated to VR/AR, 5G, Big Data and other emerging technologies asides AI & Blockchain.

Tickets are now available for purchase and a 15% early bird discount is available for readers who buy their tickets by January 31st with the code TCEM15%OFF.

Further discounts apply for companies/individuals buying at least 5 tickets. Click here to redeem our 20% corporate discount.

Hang in there!
See you tomorrow

– Olumuyiwa

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