Wasoko denies Rwanda exit as it ramps up hiring across East Africa
Wasoko, a Kenyan e-commerce platform backed by Tiger Global and 4DX Venture, has refuted claims that it has closed its Rwandan operations weeks after exiting Zanzibar and pausing business in Uganda and Zambia. The e-commerce platform told TechCabal via email that it is ramping up its headcount in Rwanda, Tanzania and Kenya. In Rwanda, the company is searching for partnership and procurement associates. It has three open roles for its Kenyan business and four in Tanzania, including an opportunity for two procurement managers. “We recently opened a new warehouse in Rwanda in November 2023 and are actively hiring for new positions to further strengthen our commitment to the country,” Wasoko said in an email statement. Wasoko added that it has onboarded new suppliers, including Movit, a cosmetics manufacturer, and Oxi, a detergent distributor, for its Rwandan operations. The B2B platform, which is yet to finalise its merger with Egypt’s MaxAB, also revealed that it is awaiting the arrival of its first shipment of Egyptian products for distribution in Rwanda. The shipments will “mark the “launch of its new Pan-African sourcing strategy” as Wasoko seeks to tap MaxAB’s reach in Northern Africa. Wasoko exited two other markets – Senegal and Côte d’Ivoire – meaning its current operations are in Kenya, Tanzania, Rwanda and DRC Congo. Wasoko’s soon-to-be partner MaxAB, is available in Egypt and Morocco where its primary business is linking retailers to beverage suppliers. Wasoko and MaxAB have already started integrating their operations in Nairobi, with the full process expected to take a year and the organisations are “firmly on track within the timeframe.” One person with knowledge of the business told TechCabal that MaxAB is reversing some decisions made by Wasoko, including reopening some of the startup’s distribution centres in Kenya and catering to large-scale retailers. “Wasoko would not sell to businesses such as small supermarkets because they were not its target, instead choosing to focus on small retailers in its markets,” the person said. “MaxAB does not have these limitations, and they just want to serve their suppliers no matter their size.” Once valued at $260 million, Wasoko is facing a lawsuit from nine ex-employees over severance pay and stock options. The company settled for a month’s salary to avoid a court battle, but the ex-employees want severance pay for 12 months and redemption of shares at a fixed price. The ex-staff members also claim Wasoko for advertising the roles that had been declared redundant. “The respondent (Wasoko) did not give the claimants (the ex-employees) the opportunity to take up for those roles in the consultative meetings,” a court document seen by TechCabal said. The next hearing is scheduled for May 9.
Read MoreOPay’s valuation nears $3 billion as Nigeria’s digital payments adoption surges
The valuation of OPay, the Nigerian fintech startup backed by Sequoia Capital and Softbank, has risen by over 30% since its Series C funding round in 2021, according to recent corporate filings by Opera, an early OPay investor. The valuation growth underscores how Nigeria’s digital payments boom is fueling the rise of a new crop of financial technology companies. In 2018, Opera acquired Paycom, a Nigerian mobile money operator, and rebranded it as OPay. As a result, Opera had a stake in the company. However, Opera’s stake gradually reduced, eventually declining to 6.4% by 2021. In early 2023, its stake increased to 9.4% after it sold Nanobank, its Asian fintech subsidiary, to OPay in return for equity in the company. Following the transaction, Opera told investors its 9.4% stake in the fintech was valued at $253 million, according to an April 24 filing with the US Securities and Exchange Commission (SEC). It implies OPay has a valuation of $2.7 billion, compared to its previous funding round which valued the startup at $2 billion. Some of China’s Most Innovative Companies are now Backing Nigeria’s OPay Opera had earlier valued the stake at $269 million by December 2023 but adjusted its fair value in newer filings following “valuation implied in a smaller financing transaction that took place in late 2023,” the company said. OPay has made significant leaps in the past year, partly thanks to an ill-timed currency redesign that triggered cash scarcity for multiple weeks. The absence of cash led more people to rely on fintech apps like Moniepoint and OPay for transactions, pushing national payment volumes to record levels in early 2023. The momentum remained till the end of the year as the value of annual digital payments grew by more than 50% to N611 trillion, according to the Nigerian Inter-Bank Settlement Scheme (NIBSS). OPay was a major beneficiary. The company “quadrupled its user base through 2023 and grew revenue by over 60% on a constant currency” basis, Opera told shareholders. However, despite its growth, OPay, like other fintechs, continues to wrestle with fraud and customer safety concerns, which has caused regulatory bodies, including the Central Bank of Nigeria, to tighten rules on account safety.
Read More
Next Wave: Housing startups need to evolve
Cet article est aussi disponible en français <!– In partnership with –> <!–TopBanner Join us for TechCabal Battlefield, Moonshot’s startup competition where you can showcase your startup idea to a global audience and an esteemed panel of judges and stand a chance to win up to 2.5 million naira in funding for your business! Click to register for TC Battlefield First Published 28 April, 2024 Proptech’s growth over the last seven years has slowed, as funding in the sector has sharply declined. Globally, VCs disbursed $1.8 billion among Europe’s proptech startups in 2022; the following year, that amount dropped to $478 million. In Africa, for the last two years, proptech has failed to attract up to one percent of VC funding. The most funded African proptech startups have raised over $40 million collectively. Chart by Stephen Agwaibor, TC Insights Unsurprisingly, startups in the sector have had to scale down operations or go quiet. In February, Spleet, a property tech startup that raised $2.6 million in 2022 laid off workers due to “macroeconomic conditions”. Fibre, a Nigerian proptech startup which raised $790,000 in funding, has since closed shop. MyPadi, an Echo Vc funded startup that helped students to get accommodation, also sunset its operations in 2018, two years after its founding. Other startups like Muster, HutBay and Kwaba have slowly faded to the background, failing to revolutionise Nigeria’s housing market and solve a worrying housing deficit. Audit firm PwC estimates that Nigeria holds at least $300 billion worth of dead capital in residential real estate and agricultural land alone. This continued decline in the proptech industry accounts for an estimated 28 million housing deficit in Nigeria. In Lagos, Nigeria’s commercial capital, the government has failed to meet 50% of the housing deficit. Despite claims by stakeholders of inflation and high interest rates affecting the growth potential of real estate, the fact is, generally, proptech has failed to evolve. Many Nigerian proptechs established more than seven years ago have been unable to transform real estate using technology. At best, what these startups offered were monthly rent payments and listing properties for sale or rent online. Next Wave continues after this ad. In Q1 2024, investment in African startups took a nosedive, plunging by approximately 45.6% compared to Q1 2023. On the flip side, debt financing emerged as a rising star among funding options for these startups. Additionally, this period witnessed a flurry of expansion and acquisition activities in the African tech scene. Dive deeper into the latest happenings with our freshly unveiled quarterly report. Download Now A genuine worry for proptech is pricing. Most of the properties available for rent are usually out of the reach of the younger working population (Gen Zs and millennials). The property market in some Nigerian states like Lagos and Abuja are littered with mansions and exorbitant prices that no average salary earner just starting out their career can afford. One real estate developer I spoke to has however maintained that the demand for affordable studio apartments and mini flats are on the rise. He also added that smaller apartments are easier to sell than luxury properties. Next Wave continues after this ad. On 16 and 17 May in Kigali, for its 11th annual summit, the Africa CEO Forum will call on its community of 2,000 business leaders, CEOs, investors, heads of state and ministers to seize this critical moment to shape a new future for Africa Click here for more infomation What then is the future of proptech? As a way to rethink the future of housing, we should see more of three possible solutions: crowdsourcing of real estate projects, the use of tech-driven advancements in construction, and rent-to-own schemes that make real estate attractive to the millennials and Gen Zs. Partner Content: Read: Africa’s youngest film distributor, Ugonna Nwabueze unveils African streaming platform here. Crowdfunding real estate projects involves the different models of attracting investments into the sector through venture capital, institutional investment, as well as the use of platforms for trading Real Estate Investment Trusts (REITs). REITs allow more investors to fund real estate projects and get equity off their investments. Construction, on its part, has evolved to include advanced materials, 3D printing, robotics, and digital tools for project management, design, and collaboration. Next Wave continues after this ad. GITEX Africa returns a second time on May 29–31, 2024 to Marrakech, Morocco, discussing ways to accelerate the continent’s digital health revolution. GITEX is the continent’s largest all-inclusive tech event renowned for uniting the brightest minds in the technology industry Grab your tickets here 3D printing in construction is the latest innovation that has swept through several parts of Europe. It is generally faster, eco-friendly and cost effective. The output of the designs are usually aesthetically pleasing, making use of layer-by-layer additive manufacturing processes that provide future-focused designs. Partner Content: Read: Do crypto with Quidax and earn money while at It here. Another innovative form of construction tech is the use of robots in automated bricklaying, dangerous or difficult tasks or in the inspection of hard-to-reach structures, reducing risks and improving efficiency. This research paper, credited to the School of Architecture and the Built Environment in Sweden, looks into how robots are navigating construction. In addition to this is the use of advanced building resources like self-healing concrete and energy-efficient materials that can help real estate develop structures that integrate solar panels, hence saving energy consumption. Exterior photo of the Milestone project | Source: Archilovers The coming together of crowdfunding and 3D printing in construction can drive down construction costs, presenting an opportunity for younger generations to adopt a rent-to-own model that is innovative, futuristic and that can tackle the housing deficit in some parts of Africa. The different waves of proptech rvolution | Source: Table credited to bas-ip.com The future of proptech must progress from the first wave’s solutions, which included online listings and search platforms. Now that we are well into the third wave, proptech in Nigeria, and Africa by extension, must
Read More
👨🏿🚀TechCabal Daily – The ABCs of Alphabet’s first-ever dividends
In partnership with Share this newsletter: Lire en Français اقرأ هذا باللغة العربية Good morning We’re trying something new in TC Daily. We’re introducing a new column called Techxperts Talk where bi-weekly—every other Monday—we’ll share insights from stakeholders across the ecosystem on trending issues. You can look forward to fresh insights in these editions. If there’s a critical question you’d like the leaders of Africa’s tech ecosystem to answer—or you want to share feedback about this edition—shoot me an email at timi@bigcabal.com and I’ll hunt down some answers for you. In today’s edition Techxperts Talk: How to solve fraud on the continent Nigeria freezes 1,146 bank accounts linked to illegal FX trading Alphabet is ready to pay its first-ever dividends South Africa wants to know the parties to every crypto transaction Ghana plans to license Starlink The World Wide Web3 Jobs Techxperts Talk How to solve fraud on the continent In the very first edition of this column, the CEOs of Kenya’s Peleza, Marita Mutemi, and Nigeria’s Prembly, Lanre Ogungbe, share their thoughts on how startups and companies can tackle rising fraud on the continent. Marita Mutemi and Lanre Ogungbe for TC Daily In the past two weeks, two major banks across Nigeria and Kenya have revealed how they lost funds to fraud. Kenya’s Equity Bank lost $2.1 million to a debit card fraud, while Nigeria’s Wema Bank lost $600,000 to fraud and forgery. Here’s what these CEOs think. TC: What do you think about the current state of fraud detection and prevention in the financial sector? Marita: The surge in fraud incidents in Kenya highlights critical vulnerabilities in the current state of fraud detection and prevention within our financial sector. While traditional methods have had their place in safeguarding against fraudulent activities, they now face the challenge of keeping up with the evolving tactics employed by sophisticated fraudsters. We have to appreciate that the advancements in technology and rise in online transactions have significantly changed the nature of fraud we face now. In Hong Kong, for example, fraudsters used deepfake technology to convincingly impersonate a company’s CFO during a video conference call, resulting in a $25 million loss. In light of these developments, there is an urgent and compelling need for the financial sector to transition towards more advanced, adaptive, and real-time fraud detection systems. Lanre: We need synergy to curtail fraud in the sector. We need advancing local technologies, and direct investment in education to have the right talents and knowledge banks. I must also state there needs to be clear and rapid consequences for companies that do not have minimum fraud large-scale prevention requirements and greater consequences for perpetrators. Let me state that fraud cannot be eliminated completely in the financial space. It will always happen as we will continue having bad actors always trying to circumvent the financial companies, but we can make it harder and tougher for it to happen. TC: Are there any emerging technologies or trends that hold promise for enhancing fraud detection capabilities? Marita: Unfortunately, many consumers do not recognise fraudulent activity until it’s too late. Increasing financial literacy would go a long way to help consumers identify and report potential fraud. Financial institutions play an important role by implementing comprehensive consumer education programmes and campaigns. These initiatives should prioritise educating consumers on how to spot common and emerging fraud patterns, understand their responsibilities, and emphasise adoption of strong security practices. This can be delivered as online content such as webinars, press releases, social media posts, blogs and articles tailored to different demographics. These educational materials can include topics such as recognising phishing emails, insecure websites & WiFi networks, protecting personal and financial information, use of strong passwords and two-factor authentication, and understanding the importance of regularly monitoring account activity. Lanre: The best I have seen around is “profiling technologies”. It’s difficult to create technologies around prevention when financial businesses aren’t always willing to expose incidences, and data OR replace existing technologies. There is a school of thought around creating islands/silos of infrastructure within the sector as it claims that if no eternal peripheral is interfacing with those silos, it reduces the chances of fraud. over time, we see that this theory is outdated as financial players play in a field that requires continuous technology upgrades as they determine a lot of technology advancements for the country. TC: In your opinion, what role should startups play in innovating new solutions to combat fraud, and how can they collaborate effectively with traditional financial institutions? Marita: Startups have the agility, creativity and often a good understanding of emerging technologies, so they are well-positioned to experiment and develop innovative solutions to address the evolving challenges of fraud. Their nimbleness allows them to experiment quickly and iterate, keeping them ahead of emerging threats. Startups can partner with traditional financial institutions and promote collaboration. Startups will have access to the vast resources and industry expertise of established financial institutions, while these institutions will be able to take advantage of fresh perspectives and innovative solutions offered by startups. TC: From a regulatory perspective, what measures do you believe are necessary to strengthen fraud prevention frameworks? Lanre: From a regulatory perspective, strengthening fraud prevention frameworks requires a multi-faceted approach. This starts with imposing stringent requirements for financial institutions to implement robust anti-fraud policies and procedures, including regular risk assessments, employee training, and the use of advanced technologies for fraud detection. There should be increased collaboration among industries to share information and best practices, helping to identify emerging fraud trends and curb them at their inception to mitigate risks. Regulations should be updated to keep pace with evolving fraud tactics and technologies. This includes implementing measures such as biometric KYC checks, transaction monitoring, and data encryption to ensure the integrity of the financial system. Peleza is a pioneering East African company dedicated to providing comprehensive background checks, extensive KYC, KYB, and AML checks, and powering businesses of all sizes. Prembly is one of the most comprehensive digital security providers on
Read More
🚀Entering Tech #63: Data science isn’t for everyone
Plus: Five data science courses you can take to prove yourself! 27 || April || 2024 View in Browser In partnership with #Issue 63 Is data science the choice for you? Share this newsletter Hello ET people Welcome to the second edition of our three-part series on entering tech as a data professional. In the first edition, Mariam Adeoti and Adekoya Teleola shared tips on becoming a data analyst. If you missed out on the episode, please read here. Today, we’re discussing Data science—”the sexiest job of the 21st Century” as if the Harvard Business Review is to be reviewed. Let’s dig in! by Faith Omoniyi & Timi Odueso How data science works As you probably know given Meta’s updates to WhatsApp, Facebook and Instagram, AI is here to stay. Powering AI is underlying skills such as data science. AI systems are powered by data and data scientists play a vital role in collecting, cleaning, and preparing this data. And without data science, AI systems would be unable to learn, improve, or generate valuable results. However, there exists a shortage of data science talents globally. But experts say not everybody can fill the boots of a data scientist. Last year, we attended Blue Chip’s Data and AI summit, one of the talking points was how not everyone can pursue a career in data science. Why? Well, panelists at the event acknowledged that data science requires a combination of rare technical and non-technical skills. Adewale Salami, the CTO of First Bank argued that a combination of having the conviction to solve human-related problems and a hold of mathematics, algebra and statistics skills is the right mix to becoming a data scientist. Tough requirements, you might say. Olanrewaju Oyinbooke But you don’t have to be deterred by any of those requirements. Take Olarewaju Oyinbooke, who didn’t have a background in statistics and went on to achieve senior roles in data science at Microsoft and is now a top data management voice on LinkedIn. Who is a data scientist: According to Simpi Learn, a data scientist combines expertise in data analysis, machine learning, statistical modeling, and domain knowledge to extract insights and knowledge from complex data. *Newsletter continues after break. How do you become a data scientist? To become a badass data scientist, strong programming knowledge—of either Python or R—is important. However, that’s not all. Olarewaju emphasises curiosity as an important skill for budding data scientists. Without it, it will be difficult to deliver great business value. You need curiosity to start with data in different forms, “torture” it until a pattern solid enough for business value emerges. Curiosity also helps you clarify several assumptions that could impact the quality of your work. If you are not naturally curious, you can learn it by applying “the first principle of thinking”, which demands that you ask “why” five times when faced with a problem. Meme Source: Reddit A proper mix of other soft skills like communication (as you will need to keep stakeholders informed through the different phases of your work), stakeholder management, teamwork, and time management are essential for your career as a data scientist. While R and Python are essential programming languages for learning data science, don’t break a sweat on deciding what programming language to stick with. Olarewaju says what matters is what you can do with them. Instead of debating on which of these tools to use, Olarewaju says you should consider: Knowing about how to use the data to gather insights about the business Knowing how to generate new variables not captured in your data Optimising your machine-learning model for accuracy, fairness, and transparency Knowing how to explain your solution in a clear manner Knowing how to deploy your model for use by learning deployment frameworks like mlflow, and Python frameworks like flastk, fastapi, streamlit, etc. *Newsletter continues after break. The Africa CEO Forum is here On May 16 and 17 in Kigali, for its 11th annual summit, the Africa CEO Forum will call on its community of 2,000 business leaders, CEOs, investors, heads of state and ministers to seize this critical moment to shape a new future for Africa. Click here for more information. You can learn data science too When choosing a free data analytics course, Olarewaju suggests you consider three things: whether the course covers the topics you want to learn, if the course combines theory with practice, and lastly, if the course is simple enough for beginners. Olarewaju also recommends taking courses on Kaggle. Microsoft Data Science Beginner Curriculum Learn the basics of Data Science in the crash course. You will learn about the theory and code behind the most common algorithms used in data science Price: Free Duration: 10-week, 20-lesson curriculum Tools Needed: Laptop + internet access Level: Beginner Get course Data Science Crash Course on YouTube Learn the basics of data science in the crash course. You will learn about the theory and code behind the most common algorithms used in data science. Price: Free Duration: 2 hours Tools Needed: Laptop + internet access Level: Beginner Get Course The Data Science Course: Complete Data Science Bootcamp 2024 Complete data science training: math, statistics, python, advanced statistics in python, machine and deep learning. Price: ₦7,400 ($6.43) Duration: 5 hours on-demand video Tools Needed: Laptop+ internet access Level: Beginner Get Course Intro to Data Science: QuickStart Guide + AI & ChatGPT Prize Complete data science training: math, statistics, python, advanced statistics in python, machine and deep learning. Price: ₦6,400 ($5.43) Duration: 5 hours on-demand video Tools Needed: Laptop+ internet access Level: Beginner Get Course Data Science by Moringa School Price: $1,740 *payable in instalments Duration: 20 weeks Tools Needed: Laptop+ internet access Level: Beginner Get Course How to land your first role Here’s what the typical career path of a data scientist looks like: Data Scientist Senior Data Scientist Data Science Manager VP/Head of Data Science Now that you have learned the basic skills to become a data scientist, it’s time to land your
Read MoreAfter conquering financial services, Mauritius wants to hack tech too
Mauritius is Africa’s leading financial services hub. The small island houses some of the continent’s leading banks, investment companies, asset managers, and insurance entities. Over the last few years, the country’s tech industry has tried to replicate this success. Mauritius’s startup ecosystem is nascent at best, with minimal venture capital inflow and only a handful of startups making a regional impact. Innovative entrepreneurs, curious investors and progressive government policies in the country are working to accelerate the ecosystem’s growth to the next level. A central bank digital currency, a fintech promotion agency and a regulatory sandbox targeting blockchain applications are in the works. The country has the Mauritius Research and Innovation Council looking to fund innovative ideas in robotics, blockchain, AI, and cloud computing and the Mauritius Emerging Technologies Council looking to promote innovation in emerging technologies. Numerous policies are also in place to support innovation in the country. These include the National ICT Policy, Digital Mauritius 2030 Strategic Plan and the Mauritius Artificial Intelligence Strategy. Peach Payments, a South African fintech startup founded in 2012 and which raised $30 million last year, entered the Mauritius market in 2021. So far, the company has onboarded over 200 merchants in the country and has forged partnerships with some of the leading commercial banks to offer its online payment gateway product. According to Sandeep Chagger, chief operating officer at Peach Payments, Mauritius’ double taxation agreements with numerous countries and ease of exchange controls make business doable for fintechs like Peach Payments. “Mauritius offers international payment processing companies a competitive advantage which you won’t find anywhere else and this makes it a highly conducive market,” Chagger told TechCabal. Challenges facing local startups Despite the success enjoyed by international and more established startups like Peach Payments, local startups struggle to make significant traction. According to data by research firm Disrupt Africa, Mauritius startups raised only $1.7 million in venture funding per the latest figures. According to Fabrice Boulle, managing partner at VC firm Equitable Ventures, Mauritius’s status as a small country severely impacts its attraction for VCs. “VC is a game of scale and for startups whose only focus is the Mauritius market, it’s going to be hard for a VC to write a cheque for a business whose market is only 1.7 million at best.” This point is further reiterated by Suyash Sumaroo, co-founder of Horizon Africa, a blockchain development startup. Although it claims to be one of the first African companies to launch a blockchain solution, it failed to gain traction, a factor Sumaroo partly alludes to the lack of visibility for startups in Mauritius. “It’s an unfortunate cycle because to expand outside the country, you need funding which is rare because investors think Mauritius is too small a market,” Sumaroo told TechCabal. Understanding the constraints that come with operating in such a small market, several accelerator programs exist in the country to help startups scale beyond the island nation. Some of these include Turbine, La Plage Factory, and Mauritius Startup Incubator. Turbine, based in the capital city of Port Louis, has accelerated more than 150 startups since its inception in 2016. Some of these include Reclyclean, a cleantech startup with a presence in Mauritius and Cape Town, LeanSearch, a martech startup with operations in Mauritius, the UK and Europe, as well as KONEKTWA, a platform allowing influencers to connect with brands directly. Startups in the Turbine cohorts go through several phases including pre-incubation in which they develop their idea into a business plan; incubation where they have one year to develop an MVP and refine their go-to-market strategies and acceleration where for six months, the startups are taught how to pitch to investors. According to a representative from Turbine, the program has contributed significantly to helping startups scalable businesses. “We take only SDG-focused startups whose innovations address prominent pain points and help improve the lives of people in Mauritius at a significant scale.” Beyond incubation and acceleration provided by the likes of Turbine, startups in Mauritius also have to be content with ensuring that innovations abide by the country’s regulatory frameworks. Although its friendly regulatory environment in financial services led to much success, in tech, startups have to work with the government to devise friendly regulations from scratch. This is where the work of organisations such as the Mauritius Fintech Hub comes into play. Founded in 2018 with a mandate to devise a strategy to promote fintech development in the country, the organisation works with startups and regulators to help them find common ground. This helps promote innovation while also ensuring that ideas and execution stay within the confines of the law and startups are not operating in regulatory grey areas. According to Benazeer Saidoo, CEO of the Mauritius Fintech Hub, sandboxing initiatives done by the hub in partnership with startups and regulators have seen the creation of enabling regulatory frameworks in the country. “In the last two years, we’ve also seen the introduction of frameworks to regulate virtual assets, which brings more clarity around what’s going on with virtual assets,” Saidoo told TechCabal. Replicating success in tech According to Chagger, the country’s liberal regulatory regime, which has spilt over to tech, can contribute to helping the country make significant strides. “Because of the regulatory environment, international players in industries like crypto are looking at Mauritius from an expansion or setup perspective.” However, for entrepreneurs like Sumaroo, an enabling regulatory environment without the requisite capital is unlikely to yield enough growth to establish Mauritius as a tech hub. “We need to break the cycle of promising companies only lasting for a maximum of 3 years due to running out of funding.” To break that cycle, investors like Boulle believe that it all starts with building VC-investable businesses, a role that incubators and accelerators can play. “I see these organisations like Turbine contributing significantly to building resilient businesses which will transcend the Mauritius’ borders.” With some of the world’s leading financial institutions residing in the country as well as internet and
Read More
Check MP Board result 2024 online
Like the UP results, the MP Board Class 10 and Class 12 results are about to be released. It’s vital to know the various methods available to check the results swiftly and accurately. Here’s a comprehensive guide on how to check the MP Board result 2024. 1. Official Websites The official MP results websites, mpresults.nic.in and mpbse.nic.in, will host the results. Once announced, students can visit these platforms and navigate to the designated sections for Class 10th and 12th results. They’ll need to input their roll numbers and other required details to access their results. 2. SMS Service Students can also check their MP Board Class 10 and 12 results via text messages. For Class 10, they need to send ‘MPBSE10’ followed by their roll number to 56263. Similarly, for Class 12, they should send ‘MPBSE12’ followed by their roll number to the same number. The results will be displayed on their screens once released. 3. DigiLocker After the results are declared, students can access their digital mark sheets and certificates through the DigiLocker platform. This provides a secure and convenient way to store and share their academic documents. 4. Re-evaluation after you check your MP Board result 2024 For students who are dissatisfied with their results or believe there has been an error in evaluation, the option for re-evaluation will be available shortly after the results are announced. They can access the re-evaluation form on the official website and follow the instructions provided. Final thoughts on how to check MP Board result 2024 online Ultimately, by following these methods and staying informed, students can efficiently check their MP Board Result 2024 without any hassle. Students need to stay updated with the latest announcements regarding the MP Board Result 2024. Regularly checking official websites and trusted news sources like TechCabal will ensure you don’t miss any important information or updates regarding the result declaration, re-evaluation process, or any other related matters.
Read MoreExclusive: EFCC blocks 1,146 bank accounts involved in unauthorised FX deals
A Federal High Court order will allow Nigeria’s Economic and Financial Crimes Commission to block 1,146 accounts connected with an ongoing investigation into “offences of dealing in unauthorised dealing foreign exchange, money laundering and terrorism financing.” “It has been confirmed that you trade cryptocurrency. We humbly request that you provide us with a valid court order for the release of your funds,” read an email from a financial institution to a customer whose funds were frozen. The court order was granted on April 24, one day after Ola Olukoyede, the EFCC chairman, told journalists that the agency had blocked 300 bank accounts involved in “illegal” peer-to-peer FX trades. The EFCC chairman said at Tuesday’s presser that “Over $15 billion passed through one of the platforms last year.” He claimed that the Naira would have crashed in a week if the EFCC had not blocked the accounts. A spokesperson for the EFCC could not immediately provide comments. Ninety percent of the account holders affected by Wednesday’s court order maintain accounts with some of Nigeria’s biggest traditional banks. The EFCC’s investigation into these accounts is the latest move by Nigerian authorities to discourage currency speculation and naira volatility after two Binance executives were charged with money laundering and tax evasion. In March, an analysis of peer-to-peer trading reportedly presented to Nigeria’s Central Bank identified a cluster of retail traders making large orders for USDT they didn’t eventually buy. The analysts claimed that some traders worked in teams to manipulate FX prices. “The team uncovered users who have been using the platform for price discovery, confirmation, and market manipulation, which has caused tremendous distortions in the market, resulting in the Naira losing its value against other currencies,” Hakeem Bello, an EFCC operative, said in a March affidavit.
Read More
👨🏿🚀TechCabal Daily – US signs bill that could see to a TikTok ban
In partnership with Share this newsletter: Lire en Français اقرأ هذا باللغة العربية Hello TC Daily readers, senior editor Timi here. This will be Mariam Muhammad’s last day writing TC Daily and working for TechCabal . Over the past year, Mariam has co-written 200 editions of TC Daily with me and Faith Omoniyi. She’s also been the brains behind some of the very fun puns we’ve had on the newsletter. We’ve enjoyed having Mariam on the team, and we look forward to what she’ll do in the future. TC Daily will continue to be written by me, Faith Omoniyi who is now joined by Towobola Bamgbose, our new intern reporter! In today’s edition The DRC is going after Apple for its cobalt use US signs bill that could see to a TikTok ban Nigeria investigates data breach that leaked info of 100 million Nigerians Uber reaches truce with Lagos Funding tracker The World Wide Web3 Job openings Big Tech Apple under scrutiny over mineral sourcing for its tech In December 2019, a human rights firm, International Rights Advocates, filed a lawsuit against tech giants like Apple, Google, Dell, Microsoft, and Tesla, on behalf of 14 parents and children from the Democratic Republic of Congo (DRC). These families allege the companies profited from child labour in their supply chains. But not much has been said or done since the lawsuit was filed. Now, the DRC itself has thrown down the gauntlet, and tech giant, Apple is the first to face scrutiny. What’s the news? Apple is facing heat from the DRC over concerns that it uses conflict minerals in its products. Lawyers for the DRC claim minerals like cobalt and tantalum, vital for smartphone components are smuggled from war-torn regions in the country— where violence and human rights abuses are rampant—to neighbouring Rwanda and then “laundered” into the global supply chain, potentially ending up in our beloved iPhones and Macs. While the DRC boasts over 60% of the world’s cobalt production, the human cost is high. Among the 255,000 Congolese mining cobalt, 40,000 are reportedly children, doing manual labour for less than $2 a day. What does Apple have to say? Apple maintains its commitment to ethical sourcing, pointing to its annual conflict minerals report and supplier audits. The company insists they have “no reasonable basis” to believe their minerals fund armed groups. However, the DRC disputes this, arguing Apple lacks concrete evidence to back its claims. Apple is known for its sleek designs and cutting-edge technology. But the company now faces a challenge of demonstrating responsible sourcing practices. How the company handles this legal battle will likely impact consumer trust and their reputation within the tech world. This accusation begs two critical questions: Say our iPhones are built on the backs of exploited children, would users be willing to boycott Apple products or switch to brands with ethical supply chains? Also, should tech companies be held directly responsible for child labor used in their supply chains, even if they don’t directly control the mines? Read Moniepoint’s case study on family-owned businesses Family-owned businesses are everywhere, shaping our world in ways you might not expect. We’ve found some insights into how they work, and we’d love to share them with you. Dive in right away here. Global News Is TikTok banned in the US? On Wednesday, US President Joe Biden signed legislation that could force TikTok to sell its company if it wishes to still operate in the US or face an outright ban in the country. TikTok’s parent company, China-headquartered ByteDance, now has 270 days to find a buyer if it still wants to operate in the US What led to this bill? The US fears its national security could be vulnerable to potential threats posed by TikTok, amid worries that China, through its influence over ByteDance, might exploit the platform to undermine America’s interests. You see, China’s data laws allow the Chinese government to review all user data of Chinese-owned companies. While TikTok has data centres in the US, it still primarily stores data in China and the US government is worried that this could mean TikTok—or ByteDance—is sharing the US citizens’ data with the Chinese government. Now, all social media platforms collect data. But TikTok is viewed as the most advanced, and most effective at learning about your interests—based on how long you stay with a video and whether you like, forward or comment on it. That enables its algorithm to deliver more items of interest to what it calls the “For You” feed. TikTok has 170 million U.S. users, two-thirds of American teens use TikTok every day, according to a 2022 Pew Research Center survey, with 16% saying they’re on the platform almost constantly. Data breaches already happened: In December 2022, the chief executives of ByteDance and TikTok acknowledged that ByteDance employees had inappropriately accessed the IP addresses of American users, including journalists critical of the company. This prompted a Justice Department investigation into potential improper surveillance of Americans. Furthermore, the Office of the Director of National Intelligence’s annual report on global threats in early 2024 revealed that China had used TikTok to target candidates from both political parties during the US midterm election cycle of 2022. Lawmakers, citing national security concerns due to TikTok’s Chinese ties, swiftly passed a bill through both chambers of Congress in recent days. What will TikTok do next: Per Bloomberg report TikTok has said it plans to sue over the measure. Chief Executive Officer Shou Chew posted a video response to the new law on Wednesday, painting US lawmakers as a threat to TikTok users’ free speech. “Make no mistake: This is a ban—a ban on TikTok and a ban on you and your voice,” he said in the video, which was posted to TikTok. “Rest assured we are not going anywhere. We are confident and we will keep fighting for your rights in the courts.” The issue could take months or even years to settle, during which the app
Read MoreKenyan parliament passes historic EU free trade deal
Kenyan lawmakers have passed a preferential trade deal with the European Union (EU), ending a political flashpoint with neighbouring East African Community (EAC) partners who refused to adopt a joint deal in 2016. The Economic Partnership Agreement (EPA) will give Kenyan traders duty-free and quota-free access to the $13.9 trillion European market. According to the EU, total trade with Kenya reached $3.5 billion in 2022, representing a 27% jump from 2018. Under the terms of that deal, Kenya will gradually lower duty on imports from the EU within the next 25 years and incentivise European companies to set up in the country. The trade agreement obligates the Kenyan government to maintain international labour standards. It also includes provisions on climate change. “The agreement includes binding and enforceable provisions on international standards and agreements on labour, gender equality, climate, and the environment, and prevents both parties from lowering labour and environmental standards,” European Parliament said in a statement on March 1. Kenyan parliament’s ratification of EPA follows a similar move by EU lawmakers who adopted the partnership in March 2023. It will now head to the trade minister who must subject it to public consultation before roll out. “It is the first agreement with a developing country in which the EU’s new approach to trade and sustainable development is reflected,” the EU Parliament said. The EU imports $1.28 billion of goods from Kenya including cut flowers, vegetables, and fruits. The East African nation is one of the biggest producers of flowers sold in Europe. On the other hand, Kenya imports mostly heavy machinery and minerals estimated to be worth $2.1 billion. The deal’s ratification comes seven years after the implementation of the EU-East African Community pact stalled. While Kenya ratified and lobbied for the acceptance of the deal, other EAC countries rejected it for fear of cheap European goods flooding their markets.
Read More