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Happy Moonshot Week 🌙🚀
The stage is set for TechCabal’s Moonshot Conference, literally! Moonshot kicks off today at 9 AM WAT at the Eko Convention Centre!
If you’re heading to the venue while reading this, here’s what—and who—you can expect to catch today:
- A fireside chat between the Nigerian minister for communications, innovation and digital economy, Bosun Tijani, and CEO of Big Cabal Media Tomiwa Aladekomo 🎤
- A masterclass on building a stellar brand led by CEO of Fourth Canvas Victor Fatanmi.
- Some free merch from brands showcasing at Moonshot. 🧢
- A workshop on how to build and grow your tech career led by Microsoft and engineer Adora Nwodo.
- TC Battlefield where 10 startups will pitch for $3,200.🤺
- Over 10 panels on different sectors including AI, investment, and energy led by several ecosystem leaders.
- And finally, if you don’t stop at the TC booth to say hi, you will catch these hands too. 👊🏾
You can find the full schedule here. If you don’t have tickets yet, ticket sales will continue at the venue, so don’t let time stop you from giving TechCabal your money.🎉
Regulation
Opay, DHL, Meta in Data privacy violations crosshairs
Opay, DHL, and Meta may face the full wrath of the law NDPC.
The companies may have their hands in hot water if found guilty of data privacy violations by the Nigerian Data Protection Commission (NDPC).
What is their offence? Opay is being investigated over claims of opening accounts for people without their consent. The fintech has, however, rebuffed those claims. The details around Meta and DHL’s possible infractions are unclear. A highly placed source told TechCabal that Meta customers complained that the company targeted them in behavioral advertisements without their consent. The big tech company said it was working with the NDPC on the inquiry.
A bowl of consequences: Under the Nigerian Data Protection Act, all three companies may be asked to pay ₦10 million ($1,000) or 2% of their gross revenues in 2022, as fines if found guilty.
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Streaming
Multichoice beats Openview in court fight
A South African high court has ruled out eMedia’s case against Multichoice.
What’s happening?: On October 1, Openview, DStv’s competitor and owners of eMedia, took the broadcaster to court over a dispute about broadcasting rights for the Rugby World Cup.
Multichoice had struck a deal—valued around R57 million ($3 million)—with South Africa’s public broadcaster, SABC, to exclusively broadcast the Rugby World Cup matches live in the country. However, MultiChoice prohibited the SABC from airing the games on third-party platforms it doesn’t own, like Openview-owned eMedia.
Openview deemed this move by Multichoice to be “overtly anti-competitive” and published an open letter to express its displeasure at some Multichoice executives, before finally taking the broadcaster to court.
However, the jury has backed Multichoice saying that the broadcaster paid heavily to acquire the exclusive broadcasting rights for the Rugby World Cup, and that it would be financially unwise to give out the exclusivity it paid for.
Zoom out: Multichoice’s victory dashes South Africans’ hopes of watching rugby matches for free on Openview.
Telecoms
Airtel partners with Thunes
Smartcash Payment Service Bank (PSB) Limited has unveiled a convenient solution for its customers.
The PSB, which is a subsidiary of Airtel Nigeria, has announced a partnership with Thunes, a cross-border payments infrastructure provider, to offer international remittances in naira to mobile wallets.
How the service works: The service allows Smartcash PSB customers to receive inward remittances from countries worldwide directly into their Smartcash accounts by simply sharing their phone numbers, which also serve as their account numbers. Funds are sent swiftly, and at no cost to the recipient, and can be accessed across the Smartcash agent network.
This move aligns with the Central Bank of Nigeria’s (CBN) announcement, made in July this year, regarding the inclusion of the naira as a payout option for diaspora remittances. In response, financial service providers have been actively forging partnerships to facilitate this. In August, MoMo PSB partnered with Saana Capital LLC, a licensed International Money Transfer Operator (IMTO), to facilitate seamless inbound and outbound transfers across Africa.
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Acquisition
Writesea acquires Nigerian AI startup CoverAI
New York-based company Writesea, has acquired a three-month-old Nigerian AI startup, CoverAI.
Writesea, which provides services to other companies to help them create and manage their online recruitment platforms, acquired CoverAI in a five-figure deal. One source estimated the deal value to be less than $50,000.
Chris Adolphus, CoverAI’s founder, stated that he received 12 bids for his startup on the startup marketplace, Acquire.com, before opting for the acquisition by Writesea. CoverAI is an app that helps people write resumes and cover letters. It uses artificial intelligence (AI) to create or improve resumes and cover letters in minutes.
Why the sale? Adolphus claims that CoverAI’s user base rapidly grew to 13,000 organic customers and from the very beginning, he had envisioned selling the startup. Considering the technology’s promise, he believes it could have secured a six-figure deal. Adolphus also expresses confidence that Writesea has the expertise to propel CoverAI to new heights.
What’s next? Despite this being Adolphus’s maiden startup sale, he is concurrently involved in managing his crypto project and a subscription-based design studio. Additionally, he’s already in the process of developing another AI product for his next venture, aiming to exit with $200,000 within six months.
Attend the KB4-CON Virtual Summit
KB4-CON EMEA is a free virtual event that focuses on cybersecurity and is designed for CISOs, security awareness, and cybersecurity professionals in Europe, the Middle East, and Africa. You can find the full agenda for the event here.
Crypto Tracker
The World Wide Web3
Source:
|
Coin Name |
Current Value |
Day |
Month |
|---|---|---|---|
 Bitcoin |
$27,079 |
– 1.96% |
+ 5.29% |
| Ether |
$1,560 |
– 1.57% |
– 2.91% |
 Neutron |
$0.35 |
– 1.16% |
+ 9.72% |
| XRP |
$0.49 |
– 2.06% |
– 1.26% |
* Data as of 05:10 AM WAT, October 11, 2023.
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Opportunities
- The National Information Technology Development Agency (NITDA), through the Office for Nigeria Digital Innovation (ONDI), in collaboration with the Japan International Cooperation Agency (JICA), are organising a one-week networking visit to Japan by selected Nigerian CleanTech Startups. Apply here.
- Applications are open for the Aurora Tech Award 2024. The Award is an annual global prize for women founders of tech startups. Winners of the first prize get $30,000, the second prize gets $20,000 and the third prize gets $10,000. Apply by December 1.
What else is happening in tech?
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