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 Investment › Iyinoluwa Aboyeji’s Future Africa Set To Invest Up To $50k In Innovative Startup by tinodam(op): 2:20pm On Jan 07, 2020 |
https://www.techawkng.com/wp-content/uploads/2020/01/images-6.jpeg Iyinoluwa Aboyeji, the co-founder of Andela and Flutterwave, has established the Future Africa Fund with the aim of investing up to $50,000 to support up to 20 founders annually. Aboyeji alongside Olabinjo Adeniran and Adenike Sheriff, launched Future Africa last year to provide capital, coaching and community for mission driven innovators building an African Future where purpose and prosperity is within everyone's reach. However, with African startups in dire need of seed capital, the Future Africa Fund was set up to cater for this lacuna and to help lead the team in a new direction an additional co-founder, Chuba Ezekwesili, has been added to the team. The fund it might interest you to know already has about 15 startups in its portfolio including 54gene, Max.ng, Big Cabal Media, Chaka and Lori System among others. In addition to the funding, Future Africa would provide startups with access to a network of talent and early customers, which he said could make the difference between success and failure for many startups. Beyond funding, Aboyeji said that Future Africa will expand its coaching and community plans for African startups. On the coaching side, Aboyeji said there are many questions that the average entrepreneurship course or article skips in the African context. With that in mind, the Future Africa Venture School (FAVS) will work with an experienced faculty of founders, investors and operators from across Africa and around the world to impart practical wisdom on various issues through articles, webinars, videos and podcasts. “We will also host public and private virtual office hours where we will help founders navigate the many complex scenarios that arise while building a high growth startup in Africa in real-time,” Aboyeji said. On the community side, Aboyeji said: “When we started Future Africa, our goal was to build a community in deep conversation about Africa’s future. "While our goal has changed, we haven’t lost sight of the fact that it will still take a village to build an African future. "When we started, we thought the only way to build this community was online through our newsletters, websites, social media and Slack. "However, our biggest revelation is that the old magic of bringing people together in the flesh never fails. “Whether it was run-down San Francisco bars on a rainy night, swanky VC digs in Palo Alto or in our living room in Yaba, the conversation and connections that have built our community thus far have been forged in person at our Future Africa Venture Entrepreneur (FAVE) Hangouts. "Building on this, we will be taking FAVE Hangouts with us as we travel the world to bring together communities of innovators who like us committed to building an African Future.” https://www.techawkng.com/2020/01/07/iyinoluwa-aboyejis-future-africa-sets-up-fund/ |
| Business › Five New Year’s Resolutions For Small Businesses by tinodam(op): 2:43pm On Jan 06, 2020 |
https://www.techawkng.com/wp-content/uploads/2020/01/shutterstock_1561088891-1.jpg In what has become a New Year ritual, many small businesses are reviewing their performance last year and are already planning their objectives for 2020. The objectives or resolutions for this New Year may be endless. As such, it is important for you to streamline your small business resolutions. To this end, we discuss some small business resolutions to held founders achieves set goals this year. Ramp up your customer service Customer service is the engine room of any organisation. You never cease plans or actions that will improve or boost your customer service. Look back over 2019 and what are the feedbacks from customers that could help you to improve. Identify and implement them. Set achievable goals There are so many objectives you want to achieve this New Year. Regardless, it essential to set realistic and achievable goals that you can track. Doing this will ensure that they do not lose sight of your goals. Have a one on one with your customers You cannot over-emphasized that the customer is king. To make them feel part of your businesses, bring them closer and guarantee their loyalty; you should have a one on one meeting with them. You should listen to their grievances and challenges and ensure that you take pragmatic actions to sort them out. Review product performance If you offer a product, this is probably the best time to do a product review to know the products that are actually performing and those that are not. This is because not all products will perform equally. Product reviews of your operations, products, and services will help you to abdicate what is not working and continue with what works. Celebrate successes Many organisations focus on shortcomings or failures of 2019 while ignoring milestones. This is not good for the psyche of employees as they will feel like they are always been criticised despite achieving so much. You can end this trend by celebrating milestones and successes achieved by the organisation. https://www.techawkng.com/2020/01/06/five-new-years-resolutions-for-small-businesses/ |
| Politics › Minister Of Communications And Digital Economy Says Data Price Slash Will Happen by tinodam(op): 11:56am On Jan 05, 2020*. Modified: 12:17pm On Jan 05, 2020 |
https://www.techawkng.com/wp-content/uploads/2020/01/ENWsIbDWoAQ9yU4.jpg The Minister of Communications and Digital Economy, Dr. Isa Pantami, has reiterated that prices of data in the country will be reviewed downward. Pantami said it is necessary to ensure that more Nigerians have access to affordable Internet and broadband services in the country. Recall that back in October and November 2019, Pantami issued a directive to the Nigerian Communications Commission (NCC) to ensure that telecoms operators slashed data tariffs, based on claims that subscribers pay huge sums to be online. The Chairman of the Association of Licensed Telecoms Operators of Nigeria (ALTON), Gbenga Adebayo, stated that telecoms prices are not determined by political intervention adding that "market and forces of competition are things that can trigger a downward review based on studies." He urged the minister to look into how the country can be more conducive for investments and investors. Nigeria currently has over 240 million connected lines, with 178 million active telephone users, while there are 123 million Internet users and about 70 million broadband subscribers in the country. In the country presently, the price of 1GB cost 1,000 Nigerian naira while 2GB cost between N1,500 and N2,000 depending on the network you are using-Glo, MTN, Airtel and Etisalat. https://www.techawkng.com/2020/01/05/data-price-slash-will-happen/ |
| Jobs/Vacancies › Apply For 2020 Tony Elumelu Foundation Entrepreneurship Program by tinodam(op): 10:45am On Jan 05, 2020 |
https://www.techawkng.com/wp-content/uploads/2018/12/Tony-Elumelu.jpg The Tony Elumelu Foundation (TEF) has opened its application portal for applications from African entrepreneurs across all African countries, for the 2020 cohort of the Tony Elumelu Entrepreneurship Program. Recall that in 2019, 3,050 African entrepreneurs benefited from the Program, a number which will meaningfully increase in 2020. The TEF Entrepreneurship Program is open to startup entrepreneurs, with innovative business ideas or businesses that have been in existence for less than 3 years, in any sector, from across Africa. The Program is the $100 million commitment by African investor and philanthropist, Tony O. Elumelu to empower 10,000 entrepreneurs in 10 years, with the goal of creating millions of jobs and new revenue on the continent. In commemoration of its 10th year anniversary, the Foundation will announce further enhancements to the Program, providing additional benefits to Africa's rapidly growing youth demographic. The changes in the 2020 TEF Entrepreneurship Program emphasise a personalised entrepreneurship journey for every applicant and opening the platform to ensure a higher number of people trained, amplifying the Program's impact and reach. In just five years, the Program has empowered over 9,000 beneficiaries from all 54 African countries, with training, mentorship and seed funding. Speaking at the launch of the 2020 TEF Entrepreneurship Program, Ifeyinwa Ugochukwu, CEO of the Tony Elumelu Foundation, said: "The transformation of Africa begins with empowering our young African entrepreneurs. "With the recent enhancements made to our Program and our growing list of partners, the Tony Elumelu Foundation is significantly increasing its impact across the continent. "We encourage all startup African entrepreneurs across the 54 African countries to apply for the Program, as we continue to empower the very best ideas that will create the much-needed employment and revenue on the continent". The multilingual Application Portal is open on TEFConnect.com, the digital networking platform for African entrepreneurs, from January 1 to March 1, 2020. https://www.techawkng.com/2020/01/05/tony-elumelu-foundation-entrepreneurship-program/ |
| Business › Zenith Bank Introduces Code To Block Customer Account In Event Of Phone Loss by tinodam(op): 10:07pm On Jan 04, 2020 |
https://www.techawkng.com/wp-content/uploads/2020/01/ZENITH-BANK.jpg Zenith Bank Plc has introduced a unique code that blocks a customer's account and protects the account holder’s funds in the event of mobile phone, ATM Card or hardware token loss. The code *966*911# also ensures that the account details of customers are not compromised. Speaking at the launch of the new *966# Eazy Banking account protection code, the Group Managing Director and Chief Executive Officer of Zenith Bank Plc, Mr. Peter Amangbo stressed that the Bank has always been at the forefront of innovating products that enhance customer comfort and safety at all times. He also pointed out that all debit transactions on an account would be prevented once the account holder dials *966*911# from any phone and follows the text prompts. Such a restriction can only be lifted when the customer visits a Zenith Bank branch in person. The Bank MD also stressed that the *966*911# account control code is a flagship code aimed at further enhancing account security. Before the introduction of this innovative product by Zenith Bank, account holders have lost huge sums of money that were illegally withdrawn due to their mobile phone and ATM cards being stolen. In the coming weeks, we hope other banks will take a cue from one of Nigeria's leading banks and introduce the same product to ensure customer accounts are more secured regardless of whether they lost their phones or not. https://www.techawkng.com/2020/01/04/zenith-bank-introduces-code/ |
| Politics › Lagos Govt Woos Tech Entrepreneurs With ₦250m Seed Funding by tinodam(op): 12:48pm On Dec 30, 2019 |
[img] https://www.techawkng.com/wp-content/uploads/2019/12/LASRIC.jpg[/img] The Lagos State Government (LASG) through the Lagos State Science Research and Innovation Council (LASRIC) has launched a ₦250 million seed fund aimed at making the state a hub for innovation and technology. LASRIC which is responsible for boosting innovation and technology in the state has a 16-man team headed by the vice-chancellor of the University of Lagos, Prof. Oluwatoyin Ogundipe. The Governor of Lagos State, Babajide Sanwo-Olu said: “For us, it is to put the action in what we believe in. "When you make pronouncements as a government, you must put them to action. I don’t want very stringent conditions that will not make people benefit from this fund. "In the next six months, let us begin to see a litmus test that people have been supported through this fund. “We can’t do it alone, ours is just a seed fund. Some of you have access to international donors and partners that will want to see the level of our seriousness and commitment; I want us to put in serious effort so that others will be willing to support us. “We need innovative solutions. We can think global but we have to act local. Let us think about solutions that are peculiar to us as Lagosians and Nigerians and you will be amazed that we have great skills that lack people to bring them out.” Chairman of the council, Toyin Ogundipe, noted that the institution would partner with several non-governmental organisations for the benefit of Lagos State. “Any country that is doing well, there is research backing it up. What we are doing today is to refocus concerning Lagos State. What we have done is around the T.H.E.M.E.S agenda that the governor has for Lagos State for the pronouncement to be very clear. We are going to make sure that we promote STEM in the primary and secondary school level for a start. “We want to get the database of all researchers in Lagos, not only in higher institutions but in companies and other organizations in Lagos. We are going to have a multi-disciplinary research collaboration between the institution and the companies and it will attend to the needs of Lagos State,” said Ogundipe. The Lagos tech ecosystem has grown over the decades to become one of the leading hubs for technology and innovation in Africa. A significant number of startups have made Lagos their home and used the centre of excellence as a springboard to expand their presence across the continent. Examples are Kobo360, Carbon, Piggybank and Farmcrowdy among others. https://www.techawkng.com/2019/12/30/lagos-govt-woos-tech-entrepreneurs/ 1 Like |
| Business › Bolt Adds Abeokuta And Enugu To Its Growing Presence Across Nigeria by tinodam(op): 8:10pm On Dec 28, 2019 |
https://www.techawkng.com/wp-content/uploads/2019/08/boltglo.jpg Bolt formerly known as Taxify has expanded its ride-hailing service to Abeokuta and Enugu. This takes the total number of cities covered by Bolt to 11. Abeokuta and Enugu join Lagos, Abuja, Ibadan, Owerri, Benin, Uyo, Calabar, Port Harcourt, Kano, Enugu, and Abeokuta where Bolt is operational. Bolt’s regional manager for West Africa, Uche Okafor said: “Demand for ride-hailing services is growing across Nigeria as public transport is still unreliable and the costs of car ownership soar. "Ride-hailing services like Bolt make it possible for more people to enjoy the convenience and safety of getting from one place to another, without the costs of car ownership or the inconvenience of public transport.” Launched in Nigeria in 2016, the ride-hailing service headquartered in Estonia, has facilitated entrepreneurship opportunities for Nigerians who would otherwise have been included in the country’s unemployment statistics, with thousands of drivers now using the Bolt platform to start their own businesses, earning an income and supporting their families on a flexible schedule. “The ride-hailing sector has stimulated unprecedented innovation, growth and job creation in a new industry that is just four years old in Nigeria. "Bolt is committed to the Nigerian market, and we intend to grow our footprint to more towns and cities across the country, making it possible for more people to benefit from ride-hailing services, whether they are riders seeking cost-effective convenience, or drivers seeking business opportunities,” Okafor said. https://www.techawkng.com/2019/12/28/bolt-adds-abeokuta-and-enugu/ |
| Politics › LIRS Shuts Down Portal That Exposed Tax Payer's Data After NITDA Intervention by tinodam(op): 7:32pm On Dec 27, 2019 |
Lagos State Internal Revenue Service (LIRS) has shut down a portal it created for taxpayers and employed residents yet to enroll in the tax base of the state after the intervention of the National Information Technology Development Agency (NITDA).https://www.techawkng.com/2019/12/27/lirs-shuts-down-portal/ 3 Likes
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| Business › Businesses Not Customers Should Pay N50 Charges On POS Transactions, Says CBN by tinodam(op): 11:13am On Dec 25, 2019 |
https://www.techawkng.com/wp-content/uploads/2019/12/0602c5bc-godwin-emefiele.jpg The Central Bank of Nigeria (CBN) has announced that the payment of N50 charges for the use of Point of Sale (POS) machines for- cashless transactions is the responsibility of the service provider and not the customer. This was disclosed by the CBN Director of Payment System Management, Musa Jimoh while speaking on Channels Television’s Business Morning programme. The CBN Director of Payment System Management emphasised that the bank issued a circular and merchants have misinterpreted the directive. “Stamp duty has been misinterpreted, our circular that talks about merchants paying stamp duties according to the law do not say that the stamp duty should be paid by the consumer; that is a misrepresentation of CBN directive. What our directive says is that merchants should pay all necessary tax as regulated by government agencies including stamp duty. “What we told the merchants is that we would like the banks to ensure that the merchants comply with this directive by ensuring that every single payment that customers make to them, the merchants pay the regulated stamp duty of N50. “What has happened is that they have actually transferred this fee blatantly and openly to the consumers; this is very wrong. No single individual should pay N50 in addition to the cost of the goods. He stated that “Stamp duty is not to be paid by individuals that are consuming the goods and services of the merchants, the merchants who are receiving the money are the ones who are supposed to pay.” Mr Jimoh stated that because the stamp duty is not regulated by the CBN, there are no plans to stop stamp duties. “Stamp duty is not a CBN regulated fee, it is a fee regulated by an act, and so we can’t change or push anything in that direction. Therefore, the stamp duty remains and cannot be changed by the CBN, what we are doing is to ensure that the institutions we regulate (the banks) become more responsible to ensure that these fees are collected and given to the government. The government in fact recently stated that N50 will be charged on N1,000 POS transaction but reviewed it N10,000 after public outcry. https://www.techawkng.com/2019/12/25/businesses-not-customers-should-pay-n50-charges-cbn/ |
| Science/Technology › Tips For Buying An 'original' Power Bank For Your Smartphone by tinodam(op): 9:56am On Dec 24, 2019 |
https://www.techawkng.com/wp-content/uploads/2019/12/powerbank-features-1-charge_1.jpg It is very difficult to get original gadgets in Nigeria notwithstanding whether it is registered by the Standard Organisation of Nigeria (SON). A smartphone and power bank are not exempted from the counterfeit problem as both online and offline platforms are replete with them. With the Nigerians barely enjoying 24 hours power, the need for it to charge your smartphone is important. Do not make the mistake of buying a fake power bank. These tips will help select an original power bank. Capacity Power banks with more capacity tend to be more useful. A power bank’s capacity is measured in ‘mAh’ which is similar to smartphones. So, the more the ‘mAh’ the more capacity and more charging power it possesses. If you have a charger with a larger output voltage than your current device, you should be able to get several charges for your device. Portability You should probably buy a lightweight and easy-to-carry power bank to charge your smartphone or other gadgets. The higher the capacity, the bigger the power bank. Power banks with average to high range price will be a great option with no sacrifice in quality. Price Before buying a power bank online for your battery, it would be beneficial if you could do some price research. You should buy from platforms that can help you zero-in on the right power banks in low rates with amazing features perfectly matching your needs. USB features/compatibility Most power banks come with an in-built USB charger, while some simply don’t because you’re expected to use the one that came with your mobile device. Since not all USB chargers are the same, many people make the mistake of using a very old USB charger to charge up their power banks. Also, charging your recently purchased brand new power bank through a computer’s USB port is not advised. Quality Checking the quality of power banks is the most important factor you need to consider. Always check for any fault lines before making a purchase, you should never forget to check reviews. For example, the design of the circuit board, the quality of chips used, and how the safety mechanisms are implemented also play a vital role when it comes to deciding the quality of a power bank. https://www.techawkng.com/2019/12/23/tips-for-buying-an-original-power-bank-for-your-smartphone/ |
| Business › Qataloog Wins ₦3m At NCC Emerging Techs Competition by tinodam(op): 2:53pm On Dec 23, 2019 |
https://www.techawkng.com/wp-content/uploads/2019/12/EMLZAvaXsAAQjUp.jpg Qataloog, online books, and journals aggregator has been named winner of the inaugural Nigerian Communications Commission (NCC) Emerging Technologies competition. Qataloog is a higher education learning content distribution engine, spanning 1000 Universities in 54 Countries in Africa that enables catalogs discovery, sharing, strategic acquisition and management of learning content collections for academic, government, corporate, schools and public libraries in Africa. The startup which was founded on Sep 22, 2018, by Chinem Bestman and Martins Fidelis beat about 20 other tech hubs & startup that pitched their innovative ideas to experts in the telecommunication sector as well as relevant government agencies. For the win, Qataloog was rewarded with a cash prize of ₦3million while WICRYPT from Enugu state with its Wifi Hotspot Sharing solution won and second runner-up from Kano state, Phaheem Pharmaceuticals Ltd with its footfall energy resource got ₦2 million and ₦1 million respectively. Qataloog CEO, Martins Fidelis explained that Qataloog automates learning content distribution across Universities and Colleges in Africa. “What we brought to the table is the cost-effectiveness of learning content purchases directly from publishers and vendors to learning content consumers including students, government organizations and corporate organizations among others. https://www.techawkng.com/wp-content/uploads/2019/12/EMLZAvNXkAgddF3.jpg "An average content costs about $85 but on our platform, the same content can be gotten for less than $35. So students stand to gain cost-effectiveness, convenience, and access,” he said. For the Executive Vice Chairman (EVC) of NCC, Professor Umar Garba Danbatta; said the Emerging Technologies Research (ETR) Innovation Competition and Exhibition was organized to bring together competitors from technology hubs, with novel ideas/projects that meet the criteria required to achieve the desired purpose and to showcase their talents and innovations in ICT. https://www.techawkng.com/2019/12/23/qataloog-named-winner-of-ncc-emerging-techs-competition/ |
| Business › CBN Reduces ATM Withdrawal Fee From ₦65 To ₦35 by tinodam(op): 11:27am On Dec 23, 2019 |
https://www.techawkng.com/wp-content/uploads/2019/12/0602c5bc-godwin-emefiele.jpg The Central Bank of Nigeria (CBN) in its new Guide to Charges by Banks and Other Financial Institutions, has reduced the fee for ATM withdrawal from ₦65 to ₦35. This means after the third withdrawal within the same month which is free, customers will now pay ₦35 instead of ₦65 for using the ATM of other banks. This New Guide is expected to take effect from January 1, 2020, and replaces the Guide to Charges by Banks and Other Financial Institutions issued in 2017. The CBN also disclosed in the guideline that bank customers will now pay ₦10 for electronic transfers below ₦5,000, and ₦25 for electronic transfer between ₦5,000 and ₦50,000. Only electronic transfer above ₦50,000 will attract ₦50 charge. Other important announcements in the CBN guideline are: 1.) Removal Card Maintenance Fee (CAMF) on all cards linked to current accounts. 2.) A maximum of one Naira per mille for customer induced debit transactions to third parties and transfers or lodgments to the customers’ account in other banks on current accounts only. 3.) Cards linked to a savings account, the maintenance fee has been reduced to a maximum of N50 per quarter from N50 per month amounting to only N200 per annum instead of N600. 4.) No more charges for reactivation or closure of accounts such as savings, current and domiciliary accounts while status inquiry at the request of the customer (like confirmation letter, letter of non-indebtedness and reference letter) will now attract a fee of N500 per request. 5.) A one-off charge of N1,000 applies to the issuance of cards, irrespective of card type (regular or premium). N1,000 also applies to the replacement of debit cards requests by customers. Penalties for breaching the guide a.) For arbitrary charges, N2,000,000 per infraction or as may be determined by the CBN from time to time for financial institutions that breach any provision of the guide. b.) Bank will now log customer complaints into the Consumer Complaints Management System (CCMS) in addition to generating a unique reference code for each complaint lodged, which must be given to the customer. Failure to log and provide the code to the customer, it added, amounts to a breach and is sanctionable with a penalty of N1,000,000 per breach. Isaac Okorafor, CBN Director, Corporate Communications, explained that current Nigeria Inter-Bank Settlement System Plc Instant Payment (NIP) charges apply to the use of Unstructured Supplementary Service Data (USSD), purchase with cash-back will attract a charge of N100 per N20,000 subject to cumulative N60,000 daily withdrawal. According to the Director, the CBN carried out the review of the Guide, which also prescribes charges permissible for Other Financial Institutions and non-bank financial institutions, in order to align with market developments. https://www.techawkng.com/2019/12/23/cbn-reduces-atm-withdrawal-fee/ |
| Politics › NITDA Launches Incubation Hub At University Of Port Harcourt by tinodam(op): 9:21pm On Dec 20, 2019 |
https://www.techawkng.com/wp-content/uploads/2019/12/FG-commissions-NITDA-incubation-centre-in-PH-3.jpg The Nigeria Information and Technology Development Agency (NITDA) has launched an incubation and information technology hub at the University of Port Harcourt. Dr. Isa Ali Ibrahim Pantami, the Minister of Communications and Digital Economy commissioned the intervention project. The project is intended to serve as the meeting arena for disruptive ideas and emerging technologies. "Our focus is to produce potential employers, not potential employees, this can only be achieved through such interventions that will provide skills to Nigerian youths,” said Dr Pantami. The NITDA intervention focuses on helping to close the digital gaps particularly within targeted research and learning institutions nationwide. Over the years, NITDA has helped several institutions across the country in the provision of IT hubs, wide area networking, virtual libraries, digital job centres, scholarships, and capacity building. “The center is built to provide a platform for academia, industry, entrepreneurs, and startups to meet, harvest and incubate ideas to drive innovation economy or innovation-driven enterprises to support our digital economy. "This is in line with government economic diversification agenda,” said Director General of NITDA, Kashifu Inuwa Abdullahi. https://www.techawkng.com/2019/12/20/nitda-launches-incubation-hub-at-university-of-port-harcourt/ |
| Education › NIMC To Prioritise 2020 UTME/DE Applicants For NIN Registration by tinodam(op): 8:41pm On Dec 20, 2019 |
The National Identity Management Commission (NIMC) has directed its enrollment centres nationwide to give preference to applicants sitting for the 2020 Unified Tertiary Matriculation Examination (UTME)/Direct Entry (DE) examinations, for enrolment and issuance of the National Identification Number (NIN).https://www.premiumtimesng.com/news/top-news/369025-nimc-to-prioritise-nin-enrolment-for-2020-utme-de-applicants.html 1 Like
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| Business › CBN Unveils BVN 2.0-lite & Premium by tinodam(op): 4:18pm On Dec 19, 2019 |
https://www.techawkng.com/wp-content/uploads/2019/12/0602c5bc-godwin-emefiele.jpg The Central Bank of Nigeria (CBN) has unveiled Bank Verification Number (BVN) 2.0 as disclosed as part of efforts to reach Nigerians financially excluded from the financial system and increase the rate of financial inclusion. Godwin Emefiele, the CBN governor said the 2.0 evolution will involve classifying the Bank Verification Number (BVN) into two-lite and premium. BVN Premium will cover bank customers that can provide the 18 basic requirements for a complete BVN-enrolment while the BVN Lite will require minimal documentation like name and phone number for bank customers, especially those at the rural areas that do not meet the full requirements. The CBN introduced the BVN scheme into the Nigerian banking sector in 2014 and has since enrolled over 40 million bank customers into the scheme and targets taking the number of BVN-linked accounts to 100 million in the next five years. The CBN Governor said the Bankers’ Committee is collaborating with the Nigerian Communication Commission (NCC) and Mobile Money Operators (MMOs) to ensure that the project succeeds and more Nigerians brought into the financial system. He said the BVN-2.0 classification scheme will help bring more people into the financial system and reduce the financial exclusion rate. Emefiele said the Know Your Customer (KYC) scheme is part of what will be migrated into the BVN Lite. “However, there are people who are currently financially excluded, like people in our rural communities that carry phones but not having financial services. With the collaboration of NCC, we are putting this BVN arrangement to allow them to conduct minimal financial services.” He added, “It should be possible for us to migrate this person into the BVN-lite arrangement where they can conduct minimal financial services, not just banking services, but minimal financial services, insurance and anything you want to conduct in terms of finance, e-payment, or anything, you can do it with the aid of your phone. Bringing them into the financial system will help to increase the rate of financial inclusion and reduce the exclusion rate.” According to Emefiele, with the benefits of the BVN to bank customers and the economy, there is a need to consolidate and move BVN to 2.0. “This entails, for instance, to reclassify and segregate transactions that could be done on BVN. We have two classifications. "The existing BVN that we have in the system has about 18 lines of information. We decided that we classify into BVN premium and BVN lite. There should also be a system where people who are financially excluded can now be included. If you are on BVN lite there is a limit to the kind of transactions you can do in terms of deposit and in items of loans,” he added. “The important thing is that we want to make you financially included where you can conduct basic banking services. Our people in the rural communities who have BVN lite will later be migrated to the BVN-premium when you meet all the requirements,” he stated. https://www.techawkng.com/2019/12/19/cbn-unveils-bvn-2-0/ |
| Business › Nigerian Fintech Startup, Carbon Expands To Kenya by tinodam(op): 3:18pm On Dec 19, 2019 |
https://www.techawkng.com/wp-content/uploads/2019/12/Carbon-Kenya-Launch.jpg Carbon, a Nigerian fintech startup, has expanded to Kenya, making its entry into East Africa's biggest market. Following the expansion, Kenyans can now access instant loans, using their National ID number and a selfie, as well as the phone number associated with their mobile wallet. “This expansion presents an opportunity to bring some learnings from other African successful fintech markets to Kenya. "It also enables us to explore what has made the Kenyan financial services industry so successful and how this success can be replicated in other markets. “Our vision is to be a Pan-African digital bank for Africans and Africans in the diaspora. "Taking our services to Kenya represents the first step in realising that vision and truly delivering financial services that Africans at home and abroad need to thrive and excel,” said Chijioke Dozie, CEO and co-founder of Carbon. Carbon which was formerly known as Paylater said it has 1.8 million users and has been providing its customers with access to credit, simple payment solutions, high-yield investment opportunities and easy-to-use tools for personal financial management since 2016. It is interesting that Carbon is expanding to Kenya because the digital finance market in the country is very competitive. Kenya was ranked third on the continent after South Africa and Seychelles in terms of access to financial services. South Africa’s access stands at 90 percent while Seychelles stands at 95 percent. The Kenya digital finance market is led by Safaricom's M-Pesa. As of April 2019, M-Pesa had 25.57 million users. Regardless, Carbon still has a financial loophole to fill in the country like it is currently doing in Nigeria. In Kenya, only 14 percent of the population had bank accounts in 2006 when the survey was first carried out. The figure rose to 34.4 percent in 2016. So, there are millions of both banked and unbanked customers Carbon could reach with its innovative financial products and services. https://www.techawkng.com/2019/12/19/nigeria-fintech-startup-carbon-expands-to-kenya/ |
| Business › Jumia Black Friday 2019: Groceries Emerge Best Top-selling Category by tinodam(op): 11:35am On Dec 19, 2019 |
https://www.techawkng.com/wp-content/uploads/2018/12/Jumia-Nigeria.jpg Jumia has reported that for the first time, groceries emerged the best top-selling category in the month-long 2019 Black Friday campaign. The infographic report reveals that Sports and Fitness was in second place while Fashion and Accessories came in 3rd. In 4th place was TVs, Audio and Video category; followed by Home Appliances respectively. Furthermore, the Jumia Black Friday recorded 1 billion page views, providing a full range of products to shoppers and attracted over 100 million unique visits to the ecommerce company’s mobile apps and portal. https://www.techawkng.com/wp-content/uploads/2019/12/Jumia-2019-Black-Friday-Infographic...jpg For payment, over 30% of orders that were made during Black Friday across all countries were done through Jumia Pay, the Infographic shows. Meanwhile, three million packages were delivered during the campaign period that ran from the 8th to the 29th of November; with approximately 33% of the packages delivered in less than 24 hours. The launch of Jumia Now enabled on-demand products to be delivered in less than 20 minutes. Jumia The infographic shows the accelerated impact of Jumia Black Friday on entrepreneurs and the local economies. The campaign mobilized +5,000 full-time staff and provided employment for more than 50,000 people indirectly; through vendors and logistics partners. and about 42,000 active consultants (JForce Agents) participated in the campaign. https://www.techawkng.com/2019/12/19/jumia-black-friday-2019/ |
| Investment › Octave Analytics Wins N10m At Zenith Bank Hackathon by tinodam(op): 11:39am On Dec 18, 2019 |
https://www.techawkng.com/wp-content/uploads/2019/12/Octave.jpg Octave Analytics, a data analytics startup, has won the grand prize of N10 million at the maiden Zenith Bank hackathon dubbed ‘Zenathon’. The hackathon was held recently at Landmark Event Centre as part of the Zenith Tech Fair. Octave Analytics offers analytics and end-to-end Customer Value Management Process Outsourcing Services, which deals with the application of computing tools, statistics and mathematical models to solve business and industry problems. https://www.techawkng.com/wp-content/uploads/2019/12/Neo.jpg While 10 startups competed Zenathon, logistics firm, Neohaul Technologies and agritech marketplace, reQuid Technologies received ₦6 million and ₦5 million, respectively, as the first and second runners-up. https://www.techawkng.com/wp-content/uploads/2019/12/Requid.jpg Recall that reQuid also recently named the winner of the inaugural edition of Nigeria Stock Exchange Hackathon. In addition to the funding, the top three finalists would participate in Seedstars’ six-month Investment Readiness Program next year. The other finalists got ₦1 million each for participation in the Zenathon. The Zenathon focused on four thematic areas: Future of banking, future of retail, future of customer relationship and future of security. In the future of banking, there are Xcard and reQuid Technologies; The future of retail category had Alerzo, Excrow Inc., Payonhold, Neohaul Technologies, and Nairapacket and for the Customer relationship category, Termii, Octave Analytics, and Qview.ai featured. https://www.techawkng.com/2019/12/18/octave-analytics-wins-at-zenith-bank-hackathon/ |
| Investment › Rensource Secures $20m To Save Nigerians From Bane Of Generators by tinodam(op): 9:38am On Dec 18, 2019 |
https://www.techawkng.com/wp-content/uploads/2019/12/Rensource.jpg Rensource, a Nigerian renewable energy startup has secured a $20 million Series A investment to reduce Nigeria's heavy reliance or dependence on generators. The new investment was led by CRE Venture Capital and the Omidyar network. The startup which was launched in 2016 builds and operates solar-powered micro-utilities that power commercial centers. The solar-powered micro utilities have already been deployed in six Nigerian states including the Sabon Gari market in Kaduna state, Northern Nigeria. Despite the fact that Nigeria has unlimited energy resources and the potential to generate 12,522 megawatts of electric power, but this is not the case as the power generation revolves around 4,000 MW, which is not enough. Hence, Rensource which has a working partnership with German manufacturer BOS AG, to design specialized panels, has a huge market waiting for it as the distribution companies in Nigeria struggle to provide stable power. Interestingly is the renewable energy startup is already thinking of expansion as it plans to take its off-grid energy "to 100 markets within Nigeria and to additional African countries within 24 months", according to Rensource co-founder CEO Ademola Adesina. Rensource generates revenue from charging merchants daily, weekly, or monthly fees. “In 2017, we did a few hundred thousand dollars in revenue. Last year we did about $7 million in revenue, and this year we’ll do better than that,” Adesina added. https://www.techawkng.com/2019/12/18/rensource-secures-20m-funding/ |
| Investment › Chipper Cash Eyes Southern Africa Expansion After Raising $6m Led By Deciens Cap by tinodam(op): 8:04am On Dec 17, 2019 |
https://www.techawkng.com/wp-content/uploads/2019/12/chipper-cash.jpg Chipper Cash, an African-focused fintech startup that recently expanded to Nigeria, has secured a $6 million investment led by Deciens Capital. Joining the investment are previous investors and other new backers one of which is Boston based Raptor Group. According to reports, Chipper Cash will use the seed round to fund its expansion into Southern Africa in 2020 where it is yet to have any presence. Its P2P payment startup is already present in East and West Africa in six countries including Ghana, Uganda, Nigeria, Tanzania, Rwanda, and Kenya. Founded by Ham Serunjogi and Maijid Moujaled, the fintech company now has more than 600,000 active users and has processed over 3 million transactions on its no-fee, P2P, cross-border mobile-money payments product. You would recall that back in September, Chipper Cash raised $2.4 million in May 2019 in a seed round that included support from 500 Startups and Liquid 2 Ventures. With a Southern Africa expanding in the offing for Chipper Cash, it means its services will be available in some of the biggest markets in Africa. This year has been quite good for especially fintech startups on the continent. Nigeria has perhaps received the largest share of the funding. Opera's OPay has raised a total of $170 million from Chinese investors while China’s mobile phone maker Transsion led a $40 million investment in the UK headquartered PalmPay. Another exciting one in Nigeria is Visa's reported $200 million investment in Interswitch. https://www.techawkng.com/2019/12/17/chipper-cash-raises-6m-led-by-deciens-capital/ |
| Business › Opay Launches Own USSD Code For Non-internet Transactions by tinodam(op): 4:31pm On Dec 13, 2019 |
https://www.techawkng.com/wp-content/uploads/2019/08/OPay.jpg OPay has launched *955#, a USSD code, it says, will make non-internet transactions simple, easy and seamless for Nigerians. The Chinese-backed fintech startup has so far introduced several innovative products in the last few months. Some of these products include OCar, ORide, OTrike, and OFood amongst others. https://www.techawkng.com/wp-content/uploads/2019/12/20191213-161257_20191213_161305694.jpg Hence, it is not a surprise that the super app has gone a step further to introduce a USSD code for its customers. This means that you can enjoy the services of OPay regardless of whether you have internet or not. https://www.techawkng.com/wp-content/uploads/2019/12/IMG_20191213_160344_20191213_160531603.jpg To use the USSD code, simply dial *955# with your registered number and follow the instructions. It is available on Airtel, 9Mobile, and MTN. Here Are The Things You Can do with the new USSD Code-*955# 1.) Send money: If you want to send money to another Opay Account or any local bank account. 2.) Buy airtime: if you want to buy airtime for yourself or on another number (any network) 3.) Deposit money: if you want to deposit money into your Opay account 4.) Change pin: if you want to change your transaction Pin 5.) Help: if you need help. https://www.techawkng.com/2019/12/13/opay-launches-ussd-code/ |
| Business › Kuda Organises 1st Townhall, Announces 25 Free Monthly Transfers To All Customer by tinodam(op): 6:38pm On Dec 10, 2019 |
https://www.techawkng.com/wp-content/uploads/2019/09/Kuda-bank-Nigeria.jpg Kuda, a digital-only bank licensed by the Central Bank of Nigeria, has disclosed that it is offering 25 free interbank transfers every month for all its existing customers and everyone who opens a Kuda account before January 1, 2020. This announcement was made by Kuda CEO Babs Ogundeyi at the bank’s first town hall meeting - a gathering of finance experts, investors and Kuda customers which held on November 1, 2019, at Radisson Blu Hotel, Ikeja. “We discovered that most people make less than 20 transfers every month for personal use, so we decided to give everyone who opens a Kuda account this year 25 free transfers every month forever,” he said. Ogundeyi emphasised that being exclusively digital saves the bank the heavy cost of running a network of branches, savings which are then transferred to customers in the form of free banking services. Still in beta and only three months old, Kuda already provides full banking services through its apps for Android phones and iPhones, allowing everyday Nigerians with internet access to run a current account, save money automatically and earn up to 15% annual interest without the burden of bank charges. By running a business model that excludes card maintenance fees, account maintenance fees, and excessive transfer fees, Kuda has set a precedent that sets it apart from other banks. Kuda which was formerly known as Kudimoney, also provides its customers with free debit cards that are delivered at no cost nationwide, differentiating it from digital wallets. At the same event, Kuda’s efforts to make banking affordable for Nigerians were praised by several stakeholders in the finance and tech sector including Samuel Goriola Oluyemi, the Head of Emerging Markets/IFR/Agency Management at the Nigeria Inter-Bank Settlement Scheme (NIBSS). “[Kuda has] revolutionised banking in Nigeria. Things we never thought could be done are things you’re doing,” Mr. Oluyemi said. The town hall meeting was supported by Microsoft Nigeria through the 4Afrika Initiative, an important partner in the bank's mission to democratise financial services for Africans through digital technology. Earlier this year, Kuda announced pre-seed funding of $1.6 million. The bank has since processed over 6.5 billion naira worth of transactions and saved its customers tens of millions in fees. https://www.techawkng.com/2019/12/10/kuda-offers-25-free-monthly-transfers-to-all-customers/ |
| Business › Cars45 Expands To Ghana And Kenya by tinodam(op): 2:13pm On Dec 10, 2019 |
https://www.techawkng.com/wp-content/uploads/2019/12/ng-fb.jpg Cars45, an automotive trading platform in Nigeria, has expanded its operation to Ghana and Kenya as it aims to become the go-to platform for car transactions in Africa. The African used car market is valued at $45 billion and expanding into these strategic markets marks an important step on that journey for Cars45. Using its technology-enabled platform, consumers in Ghana and Kenya can now sell their cars directly through Cars45 and get paid in 45 minutes. Sellers have access to standardised pricing and a transparent marketplace, with 100 percent visibility into price offers, and buyers get access to the largest selection of verified cars. Cars45 will also provide vehicle financing, background checks, vehicle history, insurance, after-sales support, servicing and other ancillary services that consumers will need in their automotive lifecycle. With retail locations already opened in Nairobi and Accra, Cars45 plans to increase its footprint in Ghana and Kenya even further by opening more centers in Mombasa, Takoradi and other cities. Cars45 also aims to expand into additional African markets in 2020. In addition to its launch into these markets, Cars45 is also launching a consumer-to-consumer marketplace that directly matches sellers and buyers across all markets it operates in. According to Etop Ikpe, CEO and co-founder of Cars45, “We want to connect buyers and sellers across the continent in the most seamless way, taking the stress out of the trading experience. "After successfully establishing ourselves in Nigeria, expanding into Ghana and Kenya made perfect sense as the ideal next step as we build a transparent and fair structure for trading cars on the continent. Ikpe added that “the process of buying and selling cars today can be complicated, time-consuming and needlessly expensive. "We want to put an end to that by providing an easy and convenient way for consumers across Africa to make what is often the most significant financial transaction of their lives.” https://www.techawkng.com/2019/12/10/cars45-expands-to-ghana-and-kenya/ |
| Business › Update: Travelstart Takes Over Jumia Travel Across Africa by tinodam(op): 6:12pm On Dec 09, 2019 |
https://www.techawkng.com/wp-content/uploads/2019/12/Dana-Air.png Travelstart has entered into a distribution and commercial agreement with Jumia Travel to power the latter’s pan-African online travel booking portal. Under the agreement, Travelstart will take control of the sales, fulfillment and customer service aspects of Jumia Travel online booking websites in all its operating territories. “We have a strong belief in the potential of the online travel industry and travel portals in Africa and have built a strong platform across our markets to address this opportunity. "In TravelStart, we have found the perfect partner to build on the success Jumia Travel has achieved so far. While we will continue to promote the travel category, Travelstart will be responsible for the operational side of the business. "The travel ecosystem in Africa will be further be energised by this partnership said Joe Falter, EVP Jumia On-Demand Services” Jumia Travel operates in several African countries where it counts Kenya and Nigeria as its largest markets. “This partnership will ensure we remain hyper-focused on our growth and path to profitability as we reinvest our resources in our key markets, services and technology to create the best customer experience in Africa and allow Jumia to thrive,” added Falter. Travelstart, which operates in nine African countries, will use the partnership to tap new customers in markets where digital is emerging. “Twelve thousand customers travel with us daily. Being Jumia’s exclusive distribution partner will help even more travelers in Africa unlock high-quality online travel services,” said Stephan Ekbergh, CEO of Travelstart. Jumia, the biggest eCommerce platform in Africa, is massively scaling down its operations in Africa in an aggressive move to hit profitability. It recently closed its Jumia operations in Cameroon, Tanzania, and Rwanda, downsized in Kenya and now it has handed its travel business in Africa to Travelstart. https://www.techawkng.com/2019/12/09/travelstart-takes-over-jumia-travel-across-africa/ |
| Business › Update: Jumia Confirms Travelstart Has Taken Over Its Travel Business In Nigeria by tinodam(op): 4:42pm On Dec 09, 2019 |
https://www.techawkng.com/wp-content/uploads/2019/06/Jumia-Warehouse-Morocco-brandspurng-ecommerce-mtn.jpg Earlier today, Techawk broke the news that Jumia has shut down Jumia Travel, its hotels and flight market place in Nigeria. According to the report, Jumia 'handed' its operational side of its travel business to Travelstart. Now, the 'Amazon of Africa' has confirmed that it had moved its travel business to Travelstart in a bid to streamline its business. The statement reads: "We believe in the potential of the online travel industry and travel portals in Africa and have built a strong platform across our countries in Africa to address this opportunity. "We have decided to enter into a partnership with our partner, Travelstart. While we will continue to promote the Travel category, Travelstart will be responsible for the operational side of the business "We are confident that Travelstart will build on the success Jumia Travel has already achieved. The Travel ecosystem in Africa will be further energised by this partnership. "The partnership will ensure we remain hyper-focused on our growth and path to profitability as we reinvest our resources in our key markets, services and technology to create the best customer experience in Africa and help Jumia thrive." The Alibaba of Africa appears to be desperately looking for ways to cut its losses and become profitable. One of the ways it thinks it can achieve this is to close down businesses that are not strategic to these objectives. https://www.techawkng.com/2019/12/09/update-jumia-confirms-travelstart-has-taken-over-its-travel-business-in-nigeria/ |
| Business › Jumia Shuts Down Its Hotel & Flight Maketplace, Jumia Travel In Nigeria by tinodam(op): 10:06am On Dec 09, 2019 |
[img]https://www.techawkng.com/wp-content/uploads/2018/12/Jumia-Nigeria.jpg [/img] Jumia Travel has shut down in Nigeria. According to reports reaching Techawk, the travel and flight marketplace of the Amazon of Africa shut down this morning after an address by the Managing Director of Jumia Travel, Omolara Adagunodo and the Head of Human Resources, Dele Awolala. This action follows the closing down of Jumia businesses in Cameroon and Tanzania as well as the lay off of some staff in Kenya. Founded as Jovago in 2013, the hotels and flights marketplace became Jumia Travel after it rebranded in 2016. The rebranding move according to a statement at that time was to connect its companies into Jumia’s ecosystem with a new vision, “Expand your horizons”. The new Jumia ecosystem will give access to products and services from its leading platforms. Sacha Poignonnec and Jeremy Hodara, founders and co-CEOs of Jumia said: “We founded our companies with a very strong belief: the Internet can improve people’s lives in Africa. Uniting all services allows us to better help our customers fulfil their daily aspirations. This is all possible because people connect to our platform to access those services and products in an environment that we have designed for them, addressing their needs and expectations on quality, choice, price, trust and convenience.” The Alibaba of Africa appears to be desperately looking for ways to cut its losses and become profitable. One of the ways it thinks it can achieve this is to close down businesses that are not strategic to these objectives. Jumia’s 3rd quarter report shows that it is nowhere near profitability despite making a revenue of $44.2 million. Regardless, the losses keep rising. For the Q3, the loss stood at $55 million, which is higher than the $45 million it recorded in the same quarter in 2018. Jumia mall and Jumia Food will continue to operate in Nigeria for now. With the shut down of Jumia Travel in Nigeria, it clears the coast for Hotels.ng, Travelstart, Wakanow, Konga Travel, and TravelBeta to take advantage of their market share. https://www.techawkng.com/2019/12/09/jumia-shuts-down-jumia-travel-in-nigeria/ |
| Business › How To Know It’s Time To Expand Your Business by tinodam(op): 4:28pm On Dec 06, 2019 |
https://www.techawkng.com/wp-content/uploads/2018/08/Top-20-Lucrative-Businesses-in-Nigeria-That-Make-Millions-of-Naira1.jpg An important decision entrepreneurs/founders have to take is when to expand their businesses. Do you scale beyond your present market or simply maintain and continue to consolidate your current market share? These are some of the challenges entrepreneurs encounter at certain points in their entrepreneurial journey. It can indeed be a difficult decision and if you get it wrong, it can spell doom for your business. To this end, this article discusses how to know its time to expand your business. Your customers want you to grow If your customers keep asking you to grow, it might be time to grow. If customers are asking for more products or services and hours, it might be time to grow to meet customer demands. Hopefully, your growth will satisfy customers, which will increase sales and make up for the money you invest in expansion. For businesses with physical locations, you might want to consider opening a second business location if customers are travelling a great distance to get to you. You have a constant profit Basically, take your business’s gross income and subtract expenditures. This will tell you how much money your business is actually earning after you pay your bills. If you have regular, increasing profits, it might be time to grow your business. Don’t just focus on short-term success. Your success and earnings might not last. Look for long-term successes and consistently growing profits. If your business does have a regular income, you can invest some of your profits into your business. As you expand your business, hopefully, your net income will grow, too. You have too much business to handle Too much turnover isn’t something most startups worry about, but it can become a massive issue for rapidly growing companies. If you’re working long hours or turning away customers due to bandwidth, it may be a good time to expand your business. Your Industry Is Growing If your industry is growing, expanding your startup will be easier. Check out your industry trends to find out if your market is on the rise. If your industry is stagnant or fading, you might not want to expand. You might lose money in the end. Your industry might not be able to support your business if it is bigger or has more locations. Even if your business is in an industry without growth, you might be able to expand your business by offering new products or services. You have a strong team Without a strong management team and passionate, reliable employees, a great concept and high sales don’t necessarily spell success. The expansion puts a lot of stress on your business and will require that you give up more and more direct control. Are you prepared to trust your team with more decisions, and are they ready for what you’re entrusting them with? Will they be by your side in three or five years? Consider who’s moving forward with you and who you can’t move forward without. https://www.techawkng.com/2019/12/06/how-to-know-its-time-to-expand-your-business/ |
| Celebrities › Mark Angel Comedy And Aitetoro Lead Youtube’s Most Watched Video In Nigeria by tinodam(op): 1:30pm On Dec 06, 2019 |
https://www.techawkng.com/wp-content/uploads/2018/11/YouTube-com-925070746-2073171-1.jpg YouTube through YouTube Rewind, has released the 2019 top trending videos in Nigeria. Leading the pack are 'Commander' by Mark Angel Comedy, 'Aiyetoro' episode 1 by Scene One TV and UEFA Champions League (Liverpool vs Barcelona) highlights by SuperSport. 'YouTube Rewind' celebrates the biggest moments on YouTube from 2019 According to YouTube, the top trending videos in Nigeria for 2019 reflect the nation's love of sports and entertainment. Beyond the love of Nigerians for entertainment and sports, the 2019 list also revealed that Nigerians are turning to YouTube to keep up with trending news stories. The BBC Africa Documentary 'Sex for Grades Undercover' by Kiki Omehi and Ynaija's interview with celebrity photographer, Busola Dakolo, also made the list. Additionally, YouTube unveiled the list of top trending music videos for the year. Topping the list is the official video of Zlatan and Burna Boy - 'Killin Dem'. The official 'Blow My Mind' video by Davido featuring Chris Brown, and Rudeboys' 'Reason With Me' official video also made the list. The top trending videos on YouTube for 2019 are based on views, shares, comments, likes and more. Top 15 Videos watched in Nigeria in 2019, excluding major music labels are: 1-Mark Angel Comedy - COMMANDER (Mark Angel Comedy) (Episode 193) 2-Sceneone TV - Aiyetoro Town Episode 1- UPGRADE 3-Supersport - UEFA Champions League | Liverpool vs Barcelona | Highlights 4-GhenGhenJokes - INTERVIEW (ATIKU OR BUHARI) 5-Xploit Comedy - The Spirit of Stinginess (Xploit comedy) 6-AyoAjewole Woliagba-YPM - SUNDAY TO REMEMBER - Full Video (WOLI AGBA) 7-Official Broda Shaggi - THE PROPHET (full video) #brodashaggi 8-Kyinkyinaa Twan Comedy - AM PROFESSIONAL MECHANIC 9 BBC News Africa - Sex for Grades: undercover inside Nigerian and Ghanaian universities 10 Kenny Blaq - THE AFRICAN PRAISE EXPERIENCE 2019 11 Big Brother Naija - Finale: And Mercy Wins 12. Splendid TV - MAD OVER YOU EPISODE 4 13. RÉvsVEVO - POCO DANCE TUTORIAL - HOW TO DO THE POCO DANCE 14. Chop Daily - How To Zanku Part 2 15. Ynaija - How I Met Pastor Biodun Fatoyinbo and The First Rape - Busola Dakolo | Part 1#With Chude Top 15 Music Videos watched by Nigerians 1.) Zlatan x Burna Boy - Killin Dem (Official Music Video) OnASpaceship 2.) Davido x Chris Brown - Blow My Mind (Official Video) 3.) Rudeboy - Reason With Me [Official Video] 4.) Naira Marley x Zlatan - Am I A Yahoo Boy (Official Video) 5.) Kizz Daniel - MADU (Official Video) 6.) Naira Marley - Soapy [Official Video] 7.) Teni - Uyo Meyo (Official Video) 8.) Benson Ken - Is back with a Powerful Worship Medley - Talent Hunt 9. 9. Adekunle Gold x Simi - Promise (Official Video) 10.) Rema - Dumebi ( Official Music Video ) 11.) Rudeboy - Double Double [Official Video] ft. Olamide, Phyno 12.) Fireboy DML - JEALOUS (Official Music video) 13.) Larry Gaaga x Wizkid - Low 14.) Timaya - Balance (Official Video) 15.) Teni - Power Rangers (Official Video) https://www.techawkng.com/2019/12/06/youtubes-most-watched-video-in-nigeria/ |
| Business › Jumia Downsizes In Kenya by tinodam(op): 12:41pm On Dec 05, 2019 |
https://www.techawkng.com/wp-content/uploads/2018/12/Jumia-Nigeria.jpg Jumia appears to be intensely reviewing its portfolio in the 12 African countries it is currently present. While the 'Amazon of Africa' has shut down operations in the past few weeks in Cameroon and Tanzania, there are indications that it has laid off about 30 employees in its Kenyan operation. According to Gadgets Africa which broke the news, this layoff translates to a 6% cut in its Kenyan workforce. The report revealed that the job cuts are an attempt by Jumia’s parent company (Rocket Internet) to cut costs. Jumia’s 3rd quarter report shows that it is nowhere near profitability despite making a revenue of $44.2 million. Regardless, the losses keep rising. For the Q3, the loss stood at $55 million, which is higher than the $45 million it recorded in the same quarter in 2018. It is arguably now apparent that Jumia will either shut down or downsize in its remaining markets-Nigeria, Egypt, Morocco, Kenya, Ivory Coast, South Africa, Tunisia, Algeria, Ghana, Senegal, Uganda and Rwanda. It is a presently a question of when as the 'Alibaba of Africa' is looking for desperate ways to cut cost which has been its focus since it listed on the New York Stock Exchange. https://www.techawkng.com/2019/12/05/jumia-downsizes-in-kenya/ |
| Business › LASG Impounds Nearly Three Trucks Of Opay Motorcycles by tinodam(op): 10:23am On Dec 05, 2019 |
https://www.techawkng.com/wp-content/uploads/2019/12/7884998ebe52414b2c5db27f23e33a401cf1240c.jpeg Lagos State State Government has impounded almost three trucks of OPay motorcycles. The action was carried through the Lagos State Traffic Monitoring and Enforcement team which has just been constituted and given a mandate by Bajide Sawo-olu to sanitise Lagos highways notorious for traffic congestion. The reasons for the impoundment of the bikes was unclear. However, several reports claim that the ride-hailing firms did not comply with environmental laws of the state and have yet to receive government license to operate. The ride-hailing startups have not had smooth operations in the state. On one hand, their bikers are being harassed by the National Union of Road Transport Workers (NURTW) and the Road Transport Employers’ Association of Nigeria (RTEAN) for levy even though they reached an agreement of N500 ($1.38) and on the other hand, the Lagos State Government is mulling a 25 million operating license for these startups. https://www.techawkng.com/wp-content/uploads/2019/12/EKyIuosW4AAthDp-scaled.jpg Meanwhile, the regular and largely unsafe motorcycles also known as Okada are largely operating unhindered. This harassment is what probably prompted OPay to suspend OBus, its bus-hailing services in the state. The challenges being faced by the ride-hailing firms may be one of the reasons SafeBoda decided to launch in Ibadan rather than Lagos. With the 'powerful' transport unions and the LASG grabbing the ride-hailing firms by the jugular, it won't be surprising if they begin to pull out of the state. This will in no small measure defeat the plans of the state and government to market itself as an attractive and popular destination for business in Nigeria and Africa. https://www.techawkng.com/2019/12/04/lagos-state-govt-impounds-3-trucks-of-opay-motorcycles/ |
