1 DECEMBER, 2022

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Happy new month ☀️

The third episode of The Next Wave show is now live.

If you missed the broadcast on CNBC Africa, you can catch up here.

This episode features Buchi Okoro, founder and CEO of Quidax and Marius Reitz, general manager for Africa at Luno. They talk about how Africa’s crypto industry is evolving, what adoption on the continent will look like over the next few years, as well as how stakeholders can effectively balance the gains and risks associated with cryptocurrencies.

The Next Wave is brought to you by TechCabal in partnership with Flutterwave. It airs on Wednesdays at 4:30 PM (WAT) on CNBC Africa (DStv Channel 410).

CRYPTO MARKET

Bitcoin

$17,074

+ 3.24%

Ether

$1,291

+ 5.66%

BNB

$299

+ 1.18%

FTX Token

$1.33

+ 1.61%

Name of the coin

Price of the coin

24-hour percentage change

Source: CoinMarketCap

* Data as of 20:50 PM WAT, November 30, 2022.


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SOLARISE AFRICA RAISES $33.4 MILLION IN DEBT FUNDING

Kenya-based energy leasing company, Solarise Africa, has raised $33.4 million in debt funding. The Facility for Energy Inclusion led the round with $21.4 million while Oikocredit and Lion’s Head’s AfricaGoGreen Fund also participated in the round investing $7 million and $5 million respectively.

Its previously disclosed funding includes a Series A funding of $3.3 million, $10 million Series B funding round in 2020, and a $5.9 million debt funding in 2021. This new round brings their total funding to $52.6 million.

The company is set on advancing renewable energy adoption in Africa. Through several partnerships, it provides assets for solar and other energy to its customers with a smart financing option. 

It will use the new financing to expand its portfolio in Kenya and other selected African countries.


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SEND BY FLUTTERWAVE

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KENYA RECOGNISES SMARTPHONES AS JOURNALISM EQUIPMENT

The Media Council of Kenya (MCK) will now recognise smartphones as appropriate media equipment for use by credentialed journalists.

Wasn’t it always this way?

No.

Several journalists have been physically abused by security officers and leaders for using smartphones to record and transmit news. In the course of their work, media professionals have also had their smartphones seized by the Kenyan police.

Mobile phones are not only able to take high-quality photos, videos, and voice recordings but also to execute live broadcasting.

By establishing cell phones as acceptable media tools, skilled journalists and media professionals will be better protected while performing their jobs.


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VENTURES PLATFORM APPOINTS NEW HEAD OF PLATFORM

Ventures Platform Fund (VP Fund), a leading early-stage fund in Africa, has appointed Damilola Teidi as its new head of platform and networks. 

In her new role, Teidi will lead a team focused on delivering expertise-driven and post-investment support to VP Fund’s portfolio companies. Ventures Platform currently has 60+ active companies in its portfolio and is an early investor in high-performing African startups such as Paystack, PiggyVest, Reliance HMO, Mono, ThriveAgric, Seamless HR, and Market Force. 

Teidi has a wealth of expertise working as an operator in Africa’s startup ecosystem and has devoted a significant portion of her 10-year professional career to supporting African startups. She began her career as a software developer at Socketworks and later led a mobility tech startup, GoMyWay Africa, as CEO for over two years.

Later, she transitioned to Co-Creation Hub (CcHub), where she first served as incubation manager before taking on the position of director of startups in January 2018 and serving in that capacity through September of this year. At CcHub, Teidi helped design and implement crucial pan-African programmes that support technology companies and startups in Africa. Some of these programmes include Pitch Drive Asia, the CcHUB Seedr Program, and the Global Cleantech Innovation programme.

VP Fund is thrilled to have Teidi on board its leadership team. Kola Aina, general partner at Ventures Platform, said about her appointment: “We have always believed in supporting our founders to catalyse their efforts, and we intend to strengthen this as we scale. We believe that Damilola Teidi’s skill and experience will be an asset in enabling us achieve this goal.” 

“I am excited to join the team and build out different elements of the platform and networks practice. The goal is to build scalable support initiatives and harness the value of our collective networks to provide catalytic value to our founders,” said Damilola Teidi.


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SELL MORE WITH PAYSTACK

Paystack

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👉🏾 Learn more at paystack.com/storefront.

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WHITEPAPER: THE FUTURE OF PAYMENTS IN AFRICA

TechCabal Insights has partnered with Zone (formerly known as Appzone) to release a whitepaper on payment infrastructure in Africa.

In it, they explore the challenges that sit at the heart of innovation within the space, and what stakeholders in the private and public sectors need to do to address these challenges. They also look at the work that’s being done by innovators in the industry.

If you’re curious about how innovation in digital payments is evolving as well as what the opportunities and challenges are, this is for you.

Download your free copy here.

You can also join our Twitter space conversation on the same topic happening at 5 PM (WAT) today with Obi Emetarom, co-founder and CEO of Zone, Wole Ayodele, CEO of Fincra, and Luke Kyohere, chief product officer at MFS Africa. Set a reminder here.


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IN OTHER NEWS FROM TECHCABAL

My Life in Tech: Andrew Mori is helping companies secure their data on the cloud.

🚀Entering Tech #014: Five soft skills for 2023.

Will the economic downturn affect investment in African health-tech startups?

OPPORTUNITIES

  • The VFA Fintech Product Management Bootcamp is now open to applications for its second cohort. Anyone trying to accelerate their career in product or looking to break into product management, specifically within the fintech industry, can now apply to be part of the 12-week programme. At the boot camp, participants will learn how to conduct user research, communicate with stakeholders, and use product analysis tools, amongst other things. Apply by December 16.
  • The Fondation Maison des sciences de l’homme and the Institut Français de Recherche en Afrique of Nairobi are offering a three-month-long fellowship in France for postdoc researchers from Kenya, Tanzania, Uganda, Burundi, Rwanda, and Eastern Congo (Kivu) who have presented their thesis from 2017. Laureates will receive a monthly stipend of €1,600 at the start of each month. Apply by December 9.
  • If your startup or innovation is focused on climate-smart agriculture practices, apply to the THRIVE|Shell Climate-Smart Agriculture Challenge for a chance to win $100,000, a spot in a prestigious accelerator, publicity and more. Apply by December 11.
  • Applications are now open for Apple’s Entrepreneur Camp. The immersive virtual camp will give founders and developers from underrepresented communities mentorship, technical support and access to the alumni network. Apply by December 5.
  • Applications are open for the TechBridge accelerator programme to innovative African startups. It provides $200,000 in funding, learning opportunities, and access to the TechBridge hub, community, and support tools and resources. Apply by December 15. 
  • Applications are now open for CyberGirls Fellowship, a free 1-year program that equips girls and women aged 18-28 years old with cybersecurity skills. Apply by December 5.
APPLY FOR AGROHACK

Agrohack

UNDP and FCMB invite agritech startups, agribusiness entrepreneurs, engineers, innovators, and tech solution enthusiasts from across Nigeria to participate in its AgroHack Challenge, which aims to crowdsource innovative solutions to challenges faced by Nigeria’s agricultural ecosystem as a whole. 

Fifty innovators will be selected for the pre-incubation phase. The top 25 will be chosen to proceed to the incubation stage and receive $30,000 in equity-free funding and other exciting benefits. Apply now.

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Written by – Timi Odueso & Ngozi Chukwu

Edited by – Kelechi Njoku

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