DFI | TechCabal

6 facts about the Nigerian Impact Investing landscape

ecosystem, Venture Capital

9th December 2015

The recurring mischaracterization of Impact Investing with [venture] philanthropy in Nigeria has led to difficulty in raising capital, according to a GIIN report on impact investment in Nigeria. Here are six more facts about the local impact investment landscape.

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Andela, with a projected $50m revenue, lays off 420 developers

Business, Developers, Entrepreneurship, Funding

Abubakar Idris

17th September 2019

Andela, the Africa-focused tech accelerator, is laying off more than 400 employees across three countries as the company changes its business model away from developer training. The company told TechCabal it is laying off 250 junior developers from Nigeria and Uganda and about 170 others in Kenya. CEO Jeremy Johnson said the company will now […]

Court rulings threaten APCON’s attempt to regulate online ads in Nigeria

Business, ecosystem, Government, Internet, News, Policy, Social Media, Technology

Abubakar Idris

14th September 2019

Nigeria’s advertising regulatory body’s plan to vet adverts on social media is in peril after two historical court cases ruled the agency had no jurisdiction over non-members.

Nigerian digital bank, Kuda, raises $1.6 Million pre-seed funding in readiness to exit beta

Business, startups

Kay Ugwuede

12th September 2019

And now, three years later, the rebranded fully-fledged online-only digital bank, Kuda, has raised pre-seed funding to the tune of $1.6 million from a number of angel investors.

FBI announces arrest of 167 alleged fraudsters in Nigeria in anti-fraud operation

Business, ecosystem, FinTech, Government, Internet, Mobile, News, Policy, Technology

Abubakar Idris

11th September 2019

The Federal Bureau of Investigation (FBI) has arrested 281 individuals, including 167 in Nigeria, for their involvement in fraudulent business email compromise (BEC) schemes, the agency announced recently. Working with over 12 agencies across multiple countries, the FBI disclosed that the latest arrests are part of Operation reWired, a four-month international operation “designed to intercept […]

Pitchdrive Diary: Pitchdrive Asia Tour Comes to an End

startups, Venture Capital

Kay Ugwuede

11th September 2019

After an intense two weeks of long flights, very little sleep, lots of pitch and networking events, and some fun in between, the second edition of the Pitchdrive Asia tour organised by Co-Creation Hub, in partnership with Google for Startups, has come to an end.

What does the future hold for Africa’s transport and logistics tech sector?

Events, people, startups

Aanu Adeoye

10th September 2019

There’s been an emergence of specialized ride-hailing solutions from two-wheelers to auto-rickshaws and very recently, boats. But the sector faces regulatory and infrastructure challenges and it is barely scratching its potential.

Nigerian short-term lenders face uncertain future as Google cracks down

Apps, Business, Internet, Policy

Wole Olayinka

7th September 2019

To curb predatory lending Google has updated its Google Play developer policies and warns that loans requiring payment in full in 60 days or less will soon be banned. But are short-term digital lenders in Nigeria predatory?

Old images may have inflamed new tensions in xenophobia attacks

Government, Internet, News, Policy, Politics

Aanu Adeoye

6th September 2019

Xenophobic attacks have dominated the headlines this week after the latest wave of anti-immigrant violence rocked South Africa. Shops belonging to foreigners have been vandalised and looted with buildings also set ablaze. The unrest which began on Sunday in Johannesburg has since spread to Pretoria, leaving five people dead and at least 300 arrested, police […]