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  • TechCabal Daily – In Nigeria, an effort to keep technology startups afloat

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    Kosisochukwu Ugwuede
    TechCabal Daily – In Nigeria, an effort to keep technology startups afloat

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    👨🏿‍🚀TechCabal Daily – Egypt’s biggest data grab


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    TOGETHER WITH FLUTTERWAVE & STARTUP GUIDE
    08 – 04 – 2020

    Hey, how’s your week coming along? Welcome to another edition of TC Daily! If this mail was forwarded to you, please take a moment to subscribe. Also, join our community on Telegram.
    Shopping in store is a little more high stakes than it used to be. Spar Nigeria, a full service supermarket has transitioned online to make it easier for you to get your necessities, thanks to Flutterwave. Order online, pay securely with Flutterwave and get your groceries delivered to you.

    “80% of startups are expected to fail as a result of the recession,” a recent report has disclosed.

    In Nigeria, the National Information Technology Development Agency (NITDA) wants to provide an exemption for startups providing essential services during the lockdown in Nigeria. Movement has been restricted in the country’s economic hub, Lagos, its capital, Abuja as well as Ogun, the state in western Nigeria where the index case was found. While businesses providing essential services have been given the go-ahead to continue their operations, the unclear categorisation of what the government sees as an essential business or not is already taking its toll. Earlier this month, the NITDA set up a 10-member advisory committee led by Tomi Davies, the Chairman of Innovation Support Network (ISN) and President of the African Business Angels Network (ABAN) to advise it on ways it can support the tech ecosystem. Abubakar Idris writes that the committee has come up with recommendations to improve access to finance for tech companies; support tech hubs and help startups access hubs’ remote resources and develop strategies to provide affordable internet for businesses and individuals. Technology companies in Lagos and across the country have rallied around to help in various capacities at this time, from ventilator initiatives to mapping and providing accurate medical information.
    South African Truzo and Nigeria MVXchange have been accepted to the Founders Factory Africa Accelerator programme (FFA). The Venture Scale programme at FFA provides African startups with £220,000 in tailored support services across product design, data science, engineering and business development, along with an additional financial cash investment of £30,000.
    Lagos-based deliveries startup kwik has secured an undisclosed amount of funding from Yves Guillemot, founder and chief executive officer (CEO) of Ubisoft SA. The investment will allow the company to scale up in Nigeria. According to CEO Romain Poirot-Lellig, delivery platforms had proven an essential link to Africa last-mile delivery supply chains in the current context. The B2B logistics platform is currently in the process of raising a Series A round.
    Financial regulators in South Africa have officially launched the Intergovernmental Fintech Working Group (IFWG) Innovation Hub as a response to changes in the financial sector. The Innovation Hub is intended to support the sector in introducing innovations that complement the core mandates of regulators, including financial stability and soundness, consumer protection, financial inclusion and fair lending practices.

    The Startup Guide Africa series is the first series of guidebooks, which highlight the startup ecosystems of Accra, Lagos, Kigali and Nairobi to position them internationally as attractive startup hubs and tell the stories of businesses driven by impact.
    Applications are open for the Jack Ma Africa’s Business Heroes (ABH) competition. ABH is organized by the Africa Netpreneur Prize Initiative, established in 2019 to cultivate and empower young African entrepreneurs by giving equal opportunities to those who harnessed the power of small businesses and technologies.
    South African digital fuel management solutions, Payment24, has secured an undisclosed investment from Standard Bank for 40% stake in the company. The company’s solutions support smart fleet and fuel management and payments on the continent. The investment will be given towards accelerating its growth.
    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.

    Other things we are reading:

    + WhatsApp is placing new limits on the forwarding of messages + Bill & Melinda Gates-backed COVID-19 vaccine goes into human trial + Five CEOs on working in the femtech space
    That’s all for today, Stay safe!  – Kay       Have you shared TC Daily with your contacts?
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