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Social Media
TikTok to set up Kenyan office for content moderation
TikTok has bought more time for itself in Kenya.
Yesterday, TikTok CEO Shou Zi Chew met with the Kenyan president, William Ruto, to discuss setting up an office in Kenya to improve content moderation and TikTok’s African operations.
This comes after Bob Ndolo, CEO of a digital consulting firm, Bridget Connect Consultancy, submitted a petition to Kenya’s National Assembly to ban the social media platform. According to Ndolo, the country’s Communications Authority has failed to regulate the social media platform, which he claims is promoting violence, explicit sexual content, hate speech, and offensive behaviour among the youth.
While the Kenyan Parliament, at the time, said a complete ban would be impossible, they launched a probe into the activities of the platforms. Now, President Ruto’s meeting with the TikTok CEO has changed things. TikTok won’t be banned in Kenya, but it will work with the Kenyan government by opening an office in the country, and hiring more Kenyan content moderators.
Monetisation concerns remain: President Ruto’s statement about the meeting doesn’t say anything about improving Kenya’s monetisation of the platform. Currently, no African country can earn money directly from TikTok, only through influencer marketing, affiliate marketing, or the marketing of their goods and services.
Zoom out: Inquiries into the potential threat posed by TikTok to cultural and religious values, along with security apprehensions, are gathering momentum throughout the continent. Starting yesterday, August 24, TikTok was banned in Somalia after the government accused it of being one of the platforms where nude images and other materials deemed offensive to Somali culture and Islam were circulated.
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Telecoms
MTN launches funeral insurance via WhatsApp
MTN is making a play at insurance services.
Under its new brand, Khava, MTN will offer budget-friendly funeral insurance covers to its South African consumers, the telecom announced on Thursday. The price of the prepaid funeral starts at R75 ($4).
MTN said the product—MyMTN Prepaid Funeral Khava—is the first of a range of insurance products designed for the local market in South Africa. The insurance scheme is backed by Sanlam and facilitated by aYo Intermediaries South Africa.
How do I get on board? Users will get onboarded through WhatsApp, while MTN’s Mobile Money platform will be used to receive payments. MoMo customers can secure coverage for either 6 or 12 months via a one-time premium payment.
“From as little as R75 and no other fees, MoMo customers can secure coverage for either six or 12 months via a one-time premium payment, with benefits extending up to R20,000 ($1,063) under the MyLife Khava plan for individuals, and a collective sum of R33,750 ($1794) for the MyFamily Khava plan, which extends coverage to family members,” MTN said in a statement.
Zoom Out: MTN’s new play at the insurance products comes as the telco is finding new revenue sources beyond voice and data products whose margins of profit have come under pressure.
Creator Economy
Jamit upgrades web app for podcasters
Jamit, a platform for podcasters and voice creators, has launched its upgraded web app.
The new beta app is powered by blockchain technology and gives creators 100% ownership of their audio content files.
Jamit in beta: The team at Jamit says the app is perfect for new and seasoned podcasters who want to turn their passion for storytelling into something they can monetise and promote to larger audiences. Jamit also provides more precise insights into audience demographics, listening rates, and session durations to help creators better understand their listeners and create content that is more engaging and relevant. Furthermore, the new web app also comes with a Virtual Studio feature for podcasters and audio storytellers to be able to record solo sessions or invite guests or co-hosts to join their studio sessions.
In addition to the new features and tools, Jamit is also adding four original podcasts to its network. These podcasts feature diverse voices, podcast themes, genres, and categories.
Zoom out: Because Jamit is 100% powered by blockchain technology, creators get complete ownership of their audio content, even after it has been published and distributed. Jamit also allows creators to connect directly with their subscribers, giving them more control over their community.
TC Insights
Funding Tracker
This week, Global fintech company LemFi received $33 million in Series A funding in a round led by Left Lane Capital. Other participating investors include Y Combinator, Zrosk, Global Founders Capital, and Olive Tree.
Here are the other deals this week:
- Kenyan fintech company Zanifu received $11.2 million in debt-equity in a pre-Series A funding round led by Beyond Capital Ventures.
- South African esports company Nibble Africa raised an undisclosed amount in seed funding from E Squared.
That’s it for this week!
Follow us on Twitter, Instagram, and LinkedIn for more funding announcements. You can also visit DealFlow, our real-time funding tracker.
Crypto Tracker
The World Wide Web3
Source:
|
Coin Name |
Current Value |
Day |
Month |
|---|---|---|---|
 Bitcoin |
$25,941 |
– 1.41% |
– 10.49% |
| Ether |
$1,650 |
– 1.41% |
– 11.17% |
 CyberConnect |
$3.82 |
– 7.02% |
+ 111.13% |
| XRP |
$0.51 |
– 2.39% |
– 27.23% |
* Data as of 05:35 AM WAT, August 25, 2023.
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Job openings
- Tunga – Digital Marketing Manager– (remote from Africa)
- Interswitch– Business Development Manager, API Markeplace– Lagos, Nigeria (Hybrid)
- Kyosk – Country Product Manager – Nigeria( On-site)
- CodeLn – DevOps Engineer – Accra, Ghana (Hybrid)
- Max Drive – Procurement Intern– Lagos, Nigeria (Unspecified)
- Helium Health – Software Engineer (Frontend) – Lagos, Nigeria (Unspecified)
- Code for Africa – Senior Product Manager – Nigeria (Remote)
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