Share this newsletter:

Happy Moonshot Week 🌙🚀

Thank you so much for joining us on Day 1 of the Moonshot Conference!

Moonshot GIF

Day 2 promises more excitement, with keynotes from Sabi’s Anuoluwapo Adedoyin Adasolum, PiggyVest’s Josh Chibueze, and Flutterwave’s Olugbenga Agboola, and panels with Fisayo Fosudo, Jola Ayeye, and Korty EO. There’s also the announcement of the winner of TC Battlefield! Check out the full schedule to find out what’s coming up.

P.S. If you came over yesterday, please don’t forget to come along with your access card so you can breeze through registration. 

Policy

Nigeria appoints new leaders in tech and innovation

Congratulations meme
Image source: ZikokoMemes

Nigerian President Bola Ahmed Tinubu has approved the appointment of new and returning CEOs across multiple tech agencies.

According to the statement issued by the special adviser to the President on media and publicity, Chief Ajuri Ngelale, on Wednesday, October 11, President Tinubu approved appointments under the ministry of communications, innovation, and digital economy.

Who’s in? Here’s a list of who we’ll expect to see leading tech regulation and policy:

  • Aminu Maida assumes leadership as the EVC/CEO at the Nigerian Communications Commission (NCC).
  • Nkechi Egerton-Idehen assumes leadership as the MD/CEO of Nigerian Communications Satellite Limited (NIGCOMSAT).
  • Kashifu Inuwa Abdullahi, who was at Moonshot yesterday, has been reappointed as the DG/CEO National Information Technology Development Agency (NITDA).
  • Vincent Olatunji also returns as the National Commissioner/CEO Nigeria Data Protection Commission (NDPC).
  • Tola Odeyemi assumes leadership as the Postmaster General/CEO of the Nigerian Postal Service (NIPOST).

Furthermore, a special adviser to the President on technology and digital economy, Idris Alubankudi, has been appointed.

Zoom out: These appointments are effective immediately, marking a significant step in President Tinubu’s vision for a digitally empowered and economically inclusive Nigeria.

Get a working card from Moniepoint

With the Moniepoint personal banking app, you get reliable payments every time and a card that always works. Enjoy seamless payments powered by the infrastructure that 1.5 million businesses trust. Download the app.

Mobility

Kenya halts Bolts licence renewal

Image source: ZikokoMemes

Kenya`s National Transport and Safety Authority (NTSA) isn’t renewing the licence of the ride-hailing platform, Bolt, just yet.

Why? According to the law, ride railing platforms in the country should receive 18% commission from drivers. However, Bolt defaulted by charging additional booking fees, and higher commissions than the NTSA benchmark.

The clock is ticking: Bolt had written for a renewal of its operating licence with only 17 days left to its expiry. However, the NTSA deputy director and head of licencing, Cosmas Ngeso, informed Bolt that the ride-hailing company would lose its license unless it addressed the breaches. Bolt told TechCabal that it is working with the regulator to get its licence. 

The NTSA has asked Bolt to explain the rationale behind its commission structure, and also stop its “ïllegal” booking fee. Per Bolt, the booking fee is an additional fee that “covers support and enhanced technological features that ensure an even more efficient service on our platform”.

The regulator says it has received several formal complaints from drivers on the non-adherence of Bolt to regulations, and says these complaints must be addressed before the company’s licence can be renewed. 

Zoom out: Bolt is not the only ride-hailing company in Kenya that charges booking fees; Uber does too but Uber has explained that its booking fees are used to cover taxes such as VAT. Without charging the booking fee, the charges would reduce driver earnings, the company explained.

Economy

Nigeria share plans to train tech talents

Airtel PSB launch
Minister Bosun Tijani at TechCabal’s Moonshot

Last week, the Nigerian minister of comms, innovation and digital economy, Bosun Tijani, announced plans to equip 3 million early-to-mid-career Nigerians with tech skills by 2027 as part of the ministry’s strategic blueprint.

At TechCabal’s Moonshot Conference, the minister revealed plans for how the country will achieve that goal. 

A 1-10-100 model: According to Tijani, the ministry will kick off with a pilot phase of training 1%—about 30,000 people—of the 3 million target within the next three months. Tijani hinted that the 30,000 learners will be spread across each state of the country. After that, it will commence training 300,000—or 10%—of the 3 million target. 

According to Tijani, the 1-10-100 approach is a good route to reach its 3 million target and bridge the talent gap in the Nigeria tech ecosystem. 

Applications for learners and tutors will open by Friday, October 13. 

Zoom out: The ministry’s approach to training tech talents in the country is not a one-off model. Per the minister, the model will replicated to achieve the ministry’s goal to position Nigeria in the top 25% percentile in research globally across six pivotal Fourth Industrial Revolution (4IR).

Accept payments fast with the Paystack Virtual Terminal

Paystack Virtual Terminal helps businesses accept blazing fast in-person payments at scale, with ZERO hardware costs. Enjoy instant transfer confirmations via WhatsApp, multiple in-person payment channels, and more.

👉🏿Learn more.

Funding

Meta launches $500,000 grant programme to support AI-Powered solutions

Money fall on you gif
GIF source: Zikoko Memes

Meta is offering $500,000 in grants to projects that use its open-source AI model.

The Llama Impact Grants programme, initiated by Meta, is offering $500,000 in grants to projects using Llama 2, its open-source large language model to address challenges in education, environment and social innovation. 

Meta and Microsoft released Llama 2 as an open-source program in July, making it available to researchers and developers around the world. Llama 2 is a powerful AI model that can be used for a variety of tasks, including generating text, translating languages, and writing different kinds of creative content.

Yesterday, at TechCabal’s Moonshot event, Adaora Ikenze, Meta’s public policy director for Anglophone West Africa, expressed that AI should not be monopolised, echoing Meta’s vision of broader AI accessibility.

Assessing grant applicants: Grant applicants will be evaluated on multiple criteria, including technical feasibility, adherence to data privacy best practices, the envisioned utilisation of Llama 2, and the anticipated impact on their target communities.

Zoom out: This strategic move is Meta’s latest endeavour in its quest to construct a generative AI platform capable of rivalling OpenAI’s GPT series of AI models.


Read about the Furex app launch

The Furex App Launch Event took place last week Friday marking a pivotal moment in the digital finance space. With a focus on seamless crypto transactions, multi-currency support, and enhanced security, Furex has set a new standard for enthusiasts.Read more

Fintech

Nigerian fintech Payhippo appoints new CEO

Payhippo CEO
L-R: Dami Olawoye, new CEO of Payhippo, co-founder Chioma Okotcha, and ex-CEO Zach Bijesse

Nigerian fintech company Payhippo has undergone a significant leadership transition.

Dami Olawoye, Payhippo’s former chief financial officer (CFO), is now the new chief executive officer (CEO). The outgoing CEO, Zach Bijesse, will transition to an undisclosed role on the company’s board of directors.

Payhippo specialises in using artificial intelligence to provide credit to small and medium-sized enterprises (SMEs) in Nigeria. With Olawoye at the helm, the company plans to shift its focus toward supporting small businesses in the renewable energy sector, assisting them in scaling up operations and generating employment opportunities through the introduction of new products.

What new products? Payhippo is set to expand its product offerings to include asset finance and inventory finance. The company claims to have identified a substantial gap in the lower end of the solar equipment distribution chain and aims to leverage its expertise in SME lending to address this gap effectively.

Crypto Tracker

The World Wide Web3

Source:

Coin Market Cap logo

Coin Name

Current Value

Day

Month

Bitcoin $26,844

– 1.07%

+ 4.45%

Ether $1,562

+ 0.62%

– 1.03%

Neutron

$0.31

– 7.79%

+ 0.14%

BNB $0.49

– 0.26%

– 1.17%

* Data as of 06:50 AM WAT, October 12, 2023.

OneLiquidity GIF

Elevate your business with One Liquidity’s seamless integration. Choose from 10+ services to craft a custom solution. Join Obiex, Wewire, and others in providing trading, liquidity and compliance services. Start now with zero fees. One Integration. One Solution. One Liquidity.

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.

Written by – Faith Omoniyi & Mariam Muhammad

Edited by – Timi Odueso

Want more of TechCabal? Sign up for our insightful newsletters on the business and economy of tech in Africa.

  • The Next Wave: futuristic analysis of the business of tech in Africa.
  • Entering Tech: tech career insights and opportunities in your inbox every Wednesday at 3 PM WAT.
  • In a Giffy: business decisions powered by data-driven insights and analysis you can trust.

P:S If you’re often missing TC Daily in your inbox, check your Promotions folder and move any edition of TC Daily from “Promotions” to your “Main” or “Primary” folder and TC Daily will always come to you.

ADVERTISE

To advertise with us send an email to

ads@bigcabal.com