TechCabal Daily – Building $100-million Nigerian companies, one at a time

In January when Flutterwave announced its $35 million Series B funding round, it also mentioned that Endeavor Nigeria participated in the round. It was the latter’s first investment in the country. In conversation with TechCabal, Eloho Gihan-Mbelu, Managing Director at Endeavor Nigeria confirmed that Endeavor Catalyst, its venture investment arm, invested $2 million in the round. Flutterwave’s CEO Olugbenga Agboola and Ife Orioke, the Chief Commercial Officer, are both Endeavor entrepreneurs.  Endeavor searches for, selects and supports high-impact entrepreneurs; startups aiming to be $100 million companies. Alex has more here.

Ethiopians will now pay fines of up to $3,000 and face up to five years imprisonment if they share or create social media posts that are deemed to result in violence or disturbance of public order. The government passed the law with one lawmaker quoted as saying, “The country is a land of diversity and this bill will help to balance those diversities.” About 297 lawmakers backed the bill while 23 opposed it. Prime Minister Abiy Ahmed’s cabinet endorsed the bill last November. International rights groups say it creates a legal means for the government to muzzle opponents.

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“We are pivoting to deliveries while transport gets figured out,” CEO of Gokada, Fahim Saleh told TechCabal last week. Gokada has now started food deliveries and is working with Jumia to pilot the service according to a source at the company. On Wednesday, one Twitter user sighted and shared a picture of one of the company’s bikers with a delivery box labelled “Chop” with the Gokada logo on it. Abubakar has the lowdown of what’s going on, for TechCabal.

Nerds Unite, MainOne’s annual flagship event holds on February 21 in Lagos, Nigeria. The event will bring together, IT professionals, influencers, and decision-makers for one full day to connect and facilitate interactive discussions on trending developments in the IT sector to help professionals deliver increased value to Nigerian and West African businesses. To register visit: http://bit.ly/NerdsUnite2020.

IntiGo, a Tunisian taxi scooter has raised US$300,000 from angel investors. The three-month-old startup has now raised a total of $600,000. It will use the investment to add a food delivery service.  IntiGo only operates in Tunis for now and reportedly completed 11,000 riders in January alone using its fleet of 50 scooters. Its rides, it says are 20% cheaper than regular taxis.

Do you have tech solutions to solve health challenges in Nigeria? Then participate to become the next #AfricaTech2020Challenge champion and win a trip to #VivaTech conference in Paris, France. Register NOW! Entries close February 21, 2020.

Here’s the link for the email. http://bit.ly/38n6MI4

Connect Nigeria is holding the 8th edition of its annual business fair on March 6th and 7th at the Tafawa Balewa Square (TBS), Lagos. This year’s event is themed Vision 2020 and will feature panel sessions, pitch sessions, masterclasses, exhibition, networking and lots more. This is aimed at encouraging participants to take a holistic view of their businesses. The exhibition will host four hundred brands from various industries, showcasing their products and services to thousands of attendees. Learn more about the event and register to attend here.

Following complaints raised by residents about the difficulty of getting electricity credits at night, the Ghanaian government has launched a mobile app to makes the process easier. Vice President Mahamudu Bawumia in Kumasi, made the announcement during the week. The government says it is line with its efforts to do away with inefficiencies and corruption plaguing the power system.

It will take place on February 28, 2020, at the Zone Tech Park, Gbagada Expressway, Lagos. If you are a policymaker, blockchain/AI innovator or stakeholder in the emerging tech space, sign up here so we can get in touch. Please note that limited seats are available.

To attend the Townhall, click here to buy your tickets. Discounts apply for companies/individuals buying at least 5 tickets. Click here to enjoy our corporate discounts.