The fight to regulate social media enters a new front
Lesotho is proposing a new law to regulate
in partnership with FLUTTERWAVE & ENDEAVOR 08.10.2020
Good morning. The EV manufacturer, Tesla, has dissolved its PR department- one of the first automakers to do so. Elon Musk's Twitter > PR firm? In today's edition: -Social media -My Life in Tech -Fund raises
PARTNER CONTENT

Bamboo, a Flutterwave merchant, gives you unrestricted access to over 3,000 stocks listed on the Nigerian stock exchange and U.S. stock exchanges, right from your mobile phone or computer. With as little as $20, you can create and fund your Bamboo account with your Dollar or Naira cards and through bank transfers. Start buying and selling shares or stock bundles (called Exchange Traded Funds) in just a few taps, begin here.

SOCIAL MEDIA
The government of Lesotho is proposing a bill that will force social media users to obtain broadcast "allowances" before they post on Facebook, Twitter and Instagram. What are the details of the bill? According to the Lesotho Communications authority (LCA), an internet broadcaster is anyone whose online posts reaches at least 100 people. If your post reaches 100 people at once or you need a series of posts to reach 100 users, congratulations, you're a broadcaster too. The draft Rules will require persons who conduct internet broadcasting as defined in the draft rules, to register with the LCA. What's in the fine print... It's an attempt to regulate what people post on social media and this move has a big impact on free speech. If the bill becomes law, the LCA wll be able to investigate people for what they put on the internet and be able to take down such content. Where have we seen this before?
  • Tanzania- where in 2018, the government passed a law that forced bloggers, social media influencers and online platforms to apply for a licence and pay a fee of $930 if they wanted to keep their sites up.

  • Uganda- where you need authorization as well as an annual fee of $27 in order to do a Facebook or Twitter live video. This is in addition to a daily tax on social media which people already pay in Uganda
MY LIFE IN TECH
Every week, TechCabal's flagship column; "My Life In Tech" puts human faces to some of the innovative startups, investments and policy formations driving the technology sector across Africa. Who did Kay speak to this week? Eloho Gihan-Mbelu, the Founding Managing Director and CEO of Endeavor Nigeria. With a 20-year career in investment banking and growth private equity, her work rests on the belief that scaleup companies hold immense value for the communities and the economies that they serve. One quote that says, you should totally read this... "It’s not enough to have started a company. It’s not enough to have raised a seed round. I’m always watching for; does a seed round become Series A? Does Series A become Series B? Does seven employers become 15, become 20, become 150? Is the product getting better? What are customers saying about the product and are you [entrepreneur] actually creating a better version of the future through the company?" Read this week's My Life In Tech here.
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The events of 2020 prove that technology can be our most powerful asset to tackle social problems. On Oct 23, join Endeavor for a day of inspiring conversations with forward-thinking entrepreneurs who are building our collective future. Learn more!
FUND RAISES
The West African energy startup, EasySolar has raised a US$5 million Series A debt and equity funding round. EasySolar was founded in 2016 and allows people to buy a range of solar power solutions with flexible payment plans. For instance, its website lists a product called "d.Light bomba 32," a "solar powerhouse" that can power 12V appliances like the 32" TV or fan, USB-powered accessories, mobile phones and bright lights for hours after just a single day of charge. The product costs $790. What market does Easysolar serve? Liberia and Sierra Leone. The company claims to have provided reliable electricity to 450,000 people in these countries So what will this $5 million funding do for the company? The company plans to add more products for its customers. It also wants to widen its reach in Liberia and Sierra Leone. + Solar power, huh? Here's that time we tried it at the Big Cabal office.
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See you tomorrow!

- Olumuyiwa

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