TechCabal Daily – First Cameroon, then Tanzania. Jumia, what is happening?

While industry insiders try to piece together a cohesive narrative on the shutdown of their Cameroon business, Jumia group has announced its exit from Tanzania. In a statement to TechCabal, the company said leaving Tanzania is “part of ongoing portfolio optimization efforts.”

As Abubakar explains in his report, leaving Cameroon probably makes sense for Jumia given the relatively small market for e-commerce due to a political crisis. But Tanzania? John Magufuli’s economy is in decent health and nearly 4 in 10 have access to the internet in the east African country. Is this latest Jumia closure simply a move to hasten profitability – to stem a tide of losses, or should the remaining 12 offices brace for more shocks?

Earlier in the week, we reported on the varying brands of shakedowns by Lagos state motorcycle and road transport unions against bike-hailing companies. In the last 24 hours, we have been monitoring disturbing developments that appear to flow from the unions’ insistence on dominating any relationship between the parties. We cannot confirm any incidents at the moment but we know the union believes hostility is a way to respond to the bike-hailing companies’ push to professionalize the okada industry. Be sure to check in for potential updates as soon as we verify.

This week, Google hosted its first Google Startup Week in Lagos. At the event, graduates of Google Launchpad Accelerator Africa from across Africa pitched for funding from some of Africa & the UK’s top venture capitalists. Also, members of the Launchpad Accelerator Africa class 4 graduated from the program. Some alumni from the first three classes have completed a three-month Google for Startups UK Africa Immersion Programme in London. It was designed to bring the best of Google and the London startup ecosystem to tech companies from Africa.

What do we have for you? An engaging, top-class agenda

• Lightning talks, from Folawe Omikunle, Chika Nwobi and Dayo Koleowo.
• Two operator panel sessions featuring Tunji Adegbesan (GidiMo), ‘Dimeji Falana (Edves), Seyi Ladejobi (LSETF) and Solape Hammond (Lagos state acting wealth commissioner), among other insightful panelists.
• On our investor session, we’ll have Kola Aina (Venture Platforms), Gossy Ukanwoke (Beni American University), and Bunmi Lawson (EdFin).

Plus, an invite-only startup-investor matchmaking session! Did we mention lots of product demos and exhibitions are on the menu?

Prepare to attend the TC Townhall Edtech & the Future of Work today, Friday November 29, 2019, at Zone Tech Park, Gbagada Expressway, Lagos.

Why should you be there?

We are bringing together regulators, government agencies, investors, entrepreneurs, NGOs, social enterprises and schools to set a strong agenda about how to use technology to leapfrog Africa’s education challenges and prepare our citizens for future jobs.

Odujinrin & Adefulu, a full service commercial law firm, will be on hand to provide legal consultations for startups and other stakeholders. Book a session with them via this link.

You now have about two hours to get that coveted front-row seat. Click here to buy your tickets. And get into townhall mode on your way to the venue by binging our latest articles on edtech and the future of work.

Ghana’s central bank is mooting the launch of a digital currency. At the bank’s 23rd annual banking conference, Ernest Addison, the bank’s governor said they are “in discussion with key stakeholders to explore a pilot project (in a sandbox environment) on central bank digital currency with the possibility of issuing an e-cedi in the near future.” Mobile money, digital currencies and a number of financial innovations are the rave in Africa. We are pleased.

With 13 days to go, catch up on the team’s past experiences on jolloroad.com and see how West Africa is connected by food, beauty and loud markets, while noting the differences in power availability, roads and border crossings.