21 DECEMBER, 2022

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Elon Musk is yet to announce his resignation as CEO of Twitter, two days after promising to follow the results of a poll in which over 10 million people voted for him to step down.

He had promised to follow the results of the poll, but if he broke his word, it wouldn’t be shocking as it wouldn’t be the first time. 

We told you yesterday that Twitter announced that it would suspend accounts that use links, their usernames or linktrees to advertise their accounts on rival social media networks on the site. 

After several users voiced their opinion about the unfairness of the policy and the liabilities it presents to Twitter, the company quietly deleted the tweet about the policy and deleted the policy from its website. 

The US Federal Trade Commission is widening its probe into how Twitter handles user data.

Musk certainly has a lot on his plate.

CRYPTO MARKET

Bitcoin

$16,726

+ 0.76%

Ether

$1,209

+ 1.61%

BNB

$248

+ 0.75%

FTX Token

$0.93

– 5.02%

Name of the coin

Price of the coin

24-hour percentage change

Source: CoinMarketCap

* Data as of 04:36 AM WAT, December 21 , 2022.



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STANDARD BANK LAUNCHES SHARI’AH BUSINESS CURRENT ACCOUNT

Image source: The Africa Report

South Africa’s Standard Bank has launched its Shari’ah business current account, a solution the bank designed to cater to businesses and startups in line with Islamic Shari’ah principles.

Side Note: Shari’ah banking is the adoption of Islamic Sharia’h concepts into modern banking practices, resulting in the modification of standard banking practices. For example, Shari’ah prohibits taking interest on loans and requires that profit and loss be shared by both the issuer and receiver of capital.

According to Mybroadband, the account will be incorporated into the financial services provider’s business online (BOL) platform and will form part of Standard Bank’s greater Sharia’h Banking portfolio, including products such as the Shari’ah-approved Trust and Shari’ah-compliant Merchant Capital Advance.

How does this help businesses?

The newly-launched account will enable business clients to manage their money more efficiently. For example, clients can complete transactions using cheque cards and request additional cheque cards for other account signatories. They can also receive money and customer payments through popular channels such as EFT, Instant Money, and SnapScan.

Additionally, the business account allows customers to pay creditors and payout salaries via EFT and Instant Money and can arrange ad hoc, urgent, future-dated, and one-off payments as they require.


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ZIMBABWE INCENTIVISES SOLAR PROJECTS WITH $1 BILLION

Zimbabwe has proposed incentives to accelerate 1GW of privately owned solar energy projects worth R17.3 billion ($1 billion).

The southern African country is experiencing outages that are heavily impacting mines, industries, businesses, and households. This is because its underperforming main hydropower plant, Kariba, and its ageing coal plants currently generate only about a third of its 2GW peak power demand.

According to Reuters, the country has been on a mission to generate 1.1GW from renewable energy sources by 2025 but has been slowed by a lack of investment by independent power producers (IPPs). The IPPs say they are not investing because the foreign currency shortages in the country make them unable to remit dividends and service foreign loans.

The Zimbabwean government is now guaranteeing viable tariffs and power purchase agreements to IPPs that are keen on implementing solar projects. The central bank will also guarantee the payment of dividends and foreign loan repayments to external investors and lenders.

Zimbabwe’s finance minister, Mthuli Ncube, said the guarantees would cover 27 solar power projects with sizes ranging from 5MW to 100MW and a cumulative capacity of 998MW at a cost of $1 billion.


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PAYSTACK TERMINAL

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TC INSIGHTS: GROWTH HANDBOOK

Are you an early-stage startup trying to hack growth?

TechCabal Insights has created a handbook to help you on your growth journey. It contains useful insights from experts that touch on key areas such as building a growth strategy, maximising online and offline channels, building a strong community, and others.

In this handbook, we share some top tips and best practices for startups looking to scale their growth efforts and effectively reach their audience.

To get a sneak peek into the handbook, click here.

You can also pre-register here to get paid access once it goes live.


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EcoFlow

EcoFlow

EcoFlow, a portable power, and renewable energy solutions company is seeking distributors in Ghana for its industry-defining portable power stations, smart solar technology, and the world’s first portable home power station with an expandable ecosystem.

EcoFlow was founded with a mission to empower people and communities around the world through portable, clean, reliable power for lasting impact and dethrone the traditional gas generators through innovation.

The first products from EcoFlow’s powerful lineups to be revealed in Nigeria will consist of:

RIVER Pro is a flexible and portable device with a quiet operation that does not run on gasoline or fuel.

DELTA features a first-of-its-kind two-way inversion technology that converts AC to DC power and vice versa with a 6x AC Outlet and charges safely from 0-80% in under an hour with the X-Stream Fast Charge.

DELTA Max unit packs a 2kWh capacity that is expandable up to 6kWh with DELTA Max Smart Extra Batteries, X-Stream technology, and the ability to power most home appliances including heavy-duty devices up to 3400W.

Those interested in becoming a distributor of Ecoflow products, should contact sales.rest@ecoflow.com or to learn more visit: www.ecoflow.com

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JOB OPPORTUNITIES

  • Developers and techies from across Sub-Saharan Africa can now apply to win the grand prize of $10 000 in the Lesotho Public Financial Management hackathon which will run from 24 to 26 January 2023. Apply by 21 December.
  • African startups are invited to apply for the Making More Health Business Accelerator, a structured business growth programme targeted at social entrepreneurs with innovative solutions in the health sector. Apply by January 13.
  • The GROW Impact Accelerator is now accepting applications from agtech startups offering solutions to the problems facing the processing, packaging and transportation of food. Apply by January 30.
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Written by – Ngozi Chukwu & Caleb Nnamani

Edited by – Kelechi Njoku

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