| Antler will deploy $50m to build “ground-breaking technology companies” in Africa. The global startup accelerator and early-stage venture capital firm has eight locations around the world, including one in Nairobi. For the first cohort of its six-month programme, Antler received 1300 applications, selecting 37 founders. Over 15 startups were built in the first phase of that cohort; 5 startups have received an investment of $100,000 for the second phase. Recruitment for Antler’s second cohort of founders is open and the programme is due to begin March 2nd. Find details about the selection process here. |
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The festive period turned out good for Showmax. From its 2019/20 holiday insights this week, we learn that South African subscribers consumed over 100-years’ worth of content on the streaming service. Viewership increased by 30% in December compared to previous months, with Sunday the 29th being the peak day. The most watched shows during the season were all from HBO: Euphoria, Game of Thrones and Chernobyl. Nigerians were in binge mood as well: viewership numbers went up 10% during the period, compared to 7% in Kenya. |
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Speaking of Nigeria, another lending service has launched an online platform. Spotyloans is a “non-banking, non-deposited financial organization that offers loan service to individuals and private investment on short and long term.”
Like we said, another micro-lending platform. There is currently no shortage of these in Nigeria, so what’s the proposition for the new entrant? Firstly, it appears they will begin by focusing on the south eastern region of the country. Usually, fintechs launch in Lagos and look to disperse from there. Superior infrastructure (basically better internet – more on this in another story) in the commercial capital have supposedly meant more potentially active customers. Spotyloans will buck this trend, with a package of three products: a ‘Pay Day’ loan, a ‘Kia Kia’ (literally ‘quick quick’ in Hausa) loan, and an ‘SME’ loan.
- Pay Day: N1, 000,000 within 24 hours. No hidden charges and no collateral.
- Kia Kia: instance cash within 5 minutes. Again, no hidden charges, no collateral.
- SME: Basically same as Pay Day but for small businesses
What do we say to Spotyloans? Welcome? Well, you’ll spot a few copy typos on their site and social pages… Let’s take all of this in, take a good look and let you know soon. |
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Zooming out, Africa had an unprecedented year in terms of startup funding. From a report curated by Briter Bridges, I have drawn out the key numbers on how much was raised by tech companies, new and old. At least 100 companies each raised $1 million or more. Interswitch, OPay and Andela received stunning tickets but many interesting companies like Twiga, PEG Africa and Rensource showed there’s more to African tech than fintech. It’s a four-minute read with appealing graphs and charts, so go over to TC and enjoy. |
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The countdown to Afrobytes 2020 continues. Afrobytes is the premier event that brings together entrepreneurs, innovators, investors, and more to explore business opportunities between the African tech ecosystem and players in the global tech world. Here are key reasons why you should attend Afrobytes 2020:
- Finance: pitch world-leading Africa-focused tech funds
- Network: connect with global companies and African tech leaders
- Scale: find tech partners at the largest startup campus
- Feature: talk to international media covering African markets
Get your early bird ticket here
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| Christmas holidays are probably when the greatest number of Nigerians leave Lagos and Abuja to their hometowns. But what’s it like moving from one area of superior internet quality to places where access is usually poorer? Muyiwa Olowogboyega asked folks who traveled for the festivities to compare their technology experiences with their big cities; here’s what he found. |
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| Are you a South African having problems with your Internet Service Provider? The Internet Service Providers’ Association (ISPA) says its recently-launched mediation process is being appreciated by consumers. The process involves lodging a request for mediation at ISPA and If the response is slow or insufficient, approaching ISPA for further assistance. Learn more here. |
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Over the past year, we’ve brought together industry stakeholders, policymakers, investors and key sector players in various sectors from healthtech to edutech to spur conversations about these sectors and explore new opportunities and/or collaborations.
Come February 28, 2020 the next TechCabal townhall will focus on:
Emerging technologies including 5G, Artificial Intelligence, Augmented Reality/Virtual Reality, Cryptocurrencies, Robotics and 3D Printing. TC Townhall: Emerging Tech will examine how these technologies are changing (and will change) how Africans live and do business.
Want to attend?
Indicate interest by filling this form. Are you a member of the press, fill this form to qualify for a pass. Do you have a startup or project with any of these technologies at the core? Tell us about your project or startup here.
Have any ideas about the event or suggestions about speakers? Send us an email via team@techcabal.com and we just might make your wish come true. For sponsorship inquiries, please email Chidi via chidi@bigcabal.com. |
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Lastly… Do look out for our first quiz of the year towards the end of the work day. |
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That’s all for this week,
See you Monday
– Alexander
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