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TOGETHER WITH FLUTTERWAVE AND KWIK

1 – 04 – 2020

Good morning and welcome to your daily dose of tech and innovation news across Africa. If this mail was forwarded to you, please take a moment to subscribe. Also, join our growing community on Telegram.

Binance, the world’s biggest trading platform whose vision is to increase the freedom of money globally, now accepts Naira! Visit www.binance.com to start trading.

Yesterday, we released our Nigerian Women in Tech Report. The report, powered by the UK-Nigeria Tech Hub, examines the distribution and level of involvement of women in Nigeria’s technology and STEM fields. It features 21 women entrepreneurs and C-suite executives as well as 7 female developers. It celebrates successes, looks at the gaps that exist in women participation, show challenges and highlight recommendations for improvement. Download the report for free. All reports from TechCabal are available for download here.

South Africa’s SMS marketing engagement platform, Mobiz has raised $1million as part of a $2 million pre-Series A round. The startup raised the money from Kalon Ventures Partners while HAVAIC, another SA VC firm, has promised to provide the other half of the target money. Mobiz allows its users to send SMSes that arrives in a client’s inbox looking similar to an MMS. Customers are then sent to a webpage to view the message when they click on a link. The startup claims to have 98% open rates and an average of 15% click-through rates. According to co-founder Greg Chen, it is currently “cash-positive”, with revenue growing 30% month on month — or four times since September last year.

While you may be familiar with PalmPay, the Transsion-backed fintech that raised $40 million last year, you’ve probably never heard about EasyBuy, its phone financing service. EasyBuy is owned by Transsion’s Transsnet Financial Nigeria. The service is becoming omnipresent in phone retail stores and it is utilising Transsion’s distribution systems and network for its own growth. There’s a chance that EasyBuy and PalmCredit, another Nigerian-based fintech backed by Transsion could get merged under the PalmPay brand. Here’s everything you need to know about EasyBuy.

Covid-19 brings high stress and disarray to our daily lives and our businesses in Lagos. Kwik Delivery remains open for business and is committed to providing you and your customers with its efficient delivery platform services. Our Kwiksters are trained and will be fully equipped with protective measures in order to ensure their safety as well as yours.

Download our app at www.kwik.delivery – Lagos’ best last-mile delivery service!

As a lockdown becomes the new normal in many countries, edtech apps which used to be an add-on to classroom learning are now the only way to learn. While some schools in Lagos are using Google Classroom and Zoom, a new Nigerian edtech company, Gradely is proposing that, for teachers and students, there is a better way to teach and learn. It is looking to differentiate itself by providing teachers with more content to work with. Gradely is competing in a space that has uLesson and Simbibot. Muyiwa spoke with Gradely’s CEO, Boye Oshinaga about their ambition.

Correction: Our newsletter yesterday included the title; “TechCabal is making its health tech report available for FREE.” This is incorrect. We are not making our health tech report available for free. We are only providing part of our source dataset for free. Learn more here.

As Coronavirus cases continue to grow in Africa, Zikoko, our Sister publication under Big Cabal Media, has put together a microsite — coronafacts.africa — that provides accurate information and free downloadable resources for the general public to help understand and keep up with the Coronavirus pandemic. Visit https://www.coronafacts.africa/ to check it out.

Ekechi Nwokah, Founder & CEO at fintech startup, Migo, has joined Endeavor Nigeria’s growing network of high-impact entrepreneurs. Ekechi was selected as one of seven entrepreneurs at Endeavor’s first-ever virtual international selection panel. Endeavor now supports 2,046 entrepreneurs leading 1,278 companies in 37 markets around the world. In Nigeria, there are now 14 companies within its network and it is looking to add close to six companies this year. Endeavor provides invaluable global connections and sometimes capital to its network of entrepreneurs.

 A rise in demand for online services has driven Naspers’ shares higher. This is despite a slump in stock markets globally. Shares in Naspers have increased 11% since 2020 started, the best quarterly performance in a year. Due to the coronavirus pandemic, reliance on digital products and services have increased thereby boosting Chinese internet giant, Tencent in which Naspers has a 31% stake. In South Africa, Naspers’ Prosus NV which holds the Tencent stake has risen by 17% on the Johannesburg Stock Exchange (JSE).  Naspers’ exciting stock performance comes at a time when leading tech companies on the JSE have seen a dip in their shares.

Stay Safe!

We’ll see you tomorrow.

– Olanrewaju

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