👨🏿🚀TechCabal Daily – Microsoft’s hard weekend
In partnership with Share this newsletter: Lire en Français اقرأ هذا باللغة العربية Good morning If you’ve ever believed that your career path is rocky, then you may like the latest edition of #EnteringTech. Our featured guest went from studying nursing to coding, and she hasn’t turned back since. Especially not since she won a $2,000 prize in 2023. Here’s more on why Eunice Jacob left the stethoscope for a laptop. In today’s edition What caused the IT outage on Friday? MNT-Halan raises $157.5 million to expand operations Meta will appeal $220 million FCCPC fine Microsoft to reduce office space in Lagos The World Wide Web3 Events Technology What caused the IT outage on Friday? A software update gone wrong at CrowdStrike, a leading cybersecurity firm, triggered a global IT outage that lasted for 1 hour and 18 minutes last Friday. This outage came from an error in a routine update for CrowdStrike’s Falcon cybersecurity software. It caused crashes and malfunctions in many computers using the software. While CrowdStrike may not sound familiar to consumers, it is pretty important to global tech players. It provides cybersecurity services to more than half of Fortune 1000 companies—and one of them is Microsoft. Eight million devices struck: Due to the faulty update, Microsoft’s services were impacted, leading to the Blue Screen of Death (BSoD) for businesses using Microsoft’s 365 cloud services. Businesses using its cloud services were unable to access information or automate digital processes. Microsft estimates that 8.5 million devices were affected. Banks, healthcare providers, and government agencies faced operational challenges. Airlines resorted to issuing hand-written flight tickets as their systems went offline. In Africa, flights across countries like Kenya, Ethiopia, and South Africa were promptly cancelled, stranding thousands, and possibly millions of people travelling at that time. Money down the drain: Experts estimate the downtime could cost over $1 billion in lost revenue for businesses, making it one of the most impactful tech outages ever seen. In an interesting turn, Linux and MacOS systems were not affected as they don’t use Channel File 291 where the software update was deployed. “This is not a security incident or cyberattack. The issue has been identified, isolated and a fix has been deployed,” CrowdStrike CEO George Kurtz wrote on Twitter. What do experts suggest? Critics have questioned CrowdStrike’s rudimentary IT hygiene processes in deploying software updates. Many others are now calling for businesses to diversify their cloud service providers from the Big 3—Amazon, Microsoft, and Google—which control 65% of the cloud market—as outages plague these providers. CrowdStrike’s stock price tanked by 11.1% on Friday, raising concerns about the outage’s impact on its business and key client relationship with Microsoft, one of its biggest customers. Read Moniepoint’s 2024 Informal Economy Report 7 out of 10 informal business owners borrow money for their business. Click here to find out more about Nigeria’s informal economy and credit. Funding MNT-Halan raises $157.5 million to expand operations Egyptian fintech giant MNT-Halan, the country’s only private unicorn, has raised another $157.5 million in a new funding round. This latest injection brings their total funding to a whopping $677.5 million over the past two years. Since launching in 2018, MNT-Halan has grown its customer base to over 7 million users, and disburses more than $4.4 billion in loans. CEO Mounir Nakhla claimed the company surpassed $300 million in gross revenue in 2022. So, what’s the deal with MNT-Halan? The microfinance lending and payment company runs a hybrid business model. It targets customers lacking access to credit and financial services, and serves as a distribution medium for merchants selling fast-moving consumer goods (FMCGs). The company’s hybrid approach seems to be working as it started expanding this year. In March 2024, it acquired Advans Group in Pakistan, instantly topping its user base by 62,000, and obtaining a microfinance bank licence to continue operating in Pakistan. MNT-Halan’s expansion philosophy is simple: To expand into populated, underserved areas that are heavily cash-reliant. With this new funding, MNT-Halan is setting its sights beyond Egypt. Nakhla highlighted plans to expand regionally through strategic acquisitions. Join Fincra at API Conference on July 20, 2024 Calling all devs!! This is your chance to dive deep into Fincra’s extensive suite of payment APIs and accompanying SDKs. Come and see how you can build your next big idea with easy-to-integrate APIs. Reserve your spot here! Data Privacy Meta will appeal $220 million FCCPC fine Here’s a hypothetical situation: You tell a friend you want to buy a gadget or anything at all. Minutes later while scrolling through your Instagram feed, the exact gadget pops up as an Ad. Of course, you’re surprised and wonder if Instagram has superpowers to read your mind. No, they aren’t wizards, they only spied on your conversation or so Nigeria’s consumer protection commission thinks. Why? Three years ago, the regulator began investigating Meta—the parent company of Facebook and WhatsApp—over claims that it wasn’t giving users a say in whether their personal data could be collected and used. The regulator has found Meta guilty and handed the company a $220 million fine. Meta says no: Meta, however, does not agree with the decision and will appeal the decision. “In 2021, we went to users globally to explain how talking to businesses, among other things would work, and while there was a lot of confusion then, it’s actually proven quite popular. We disagree with the decision today as well as the fine, and we are appealing the decision,” a WhatsApp spokesperson told TechCabal via email. The FCCPC ruling came after Meta, Opay, and DHL were investigated for data privacy violations by the Nigeria Data Protection Commission (NDPC). If found guilty, Meta could be fined as much as 2% of its gross revenues in 2022. In May 2023, Meta also faced similar data violation charges, receiving a record $1.3 billion fine for transferring European user data to the US without sufficient safeguards. Paystack Virtual Terminal is now live in more countries Paystack Virtual Terminalhelps businesses accept secure, in-person
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🚀Entering Tech #70: From nursing to software development
What does it look like to go from nursing to full stack software development? 20 || July || 2024 View in Browser Brought to you by Issue #70 From nursing to coding Share this newsletter Greetings ET people One inside joke told in the tech community, especially among developers, is that you need to see the series, “Mr. Robot” first to decide if you want to fully commit to writing code and pushing git commits (pun intended.) It’s not just a joke; it’s a rite of passage. You’ll mostly get inspired by Elliot Alderson doing the cool hacker shebang and all, but you’ll also notice his dire lack of social skills. Now, picture a nurse; warm, friendly, and socially outgoing one minute, diving headfirst into the cold, calculating logic of zeros and ones the next minute. Watching anyone go from a medical career path to tech, especially coding, is like witnessing an unholy fusion of Jada Pinkett-Smith’s “Hawthorne” and “Mr. Robot”. For some reason, the juxtaposition of those TV shows should be criminal. But that is exactly what it feels like going from nursing to full stack software development. Pivoting is hard. Many Nigerian graduates struggle to decide for themselves what they want to do after school. The final resolution sometimes is to do whatever brings them money first, passion second. Our featured guest today, Eunice Jacob, pivoted from nursing to tech. Her lesson? Be open to opportunities where they find you. Here’s how she did it. Faith Omoniyi & Emmanuel Nwosu How Eunice started Infatuated by how the human body works and how fascinating the names of illnesses sounded, Eunice Jacob decided she was going to become a medical doctor. But that dream didn’t happen for her. After writing her post-UTME exam, worried that she wasn’t getting into medical school, she settled for the next best thing that bought her a freedom ticket from home: studying nursing at the Bayelsa State College of Nursing and Basic Midwifery. That was going well for a while until it no longer wasn’t. “I did not feel the drive and passion to want to grow in nursing, I could not see a future in it.” Like most graduates, and this writer who studied engineering, Eunice decided one day that she wasn’t cut out for a profession she’d spent three years studying. It wasn’t the sight of blood (thank goodness) or the long hours that bothered her—it was the realisation that her heart wasn’t fully in it. While nursing was great, she thought about the next best thing to do. Image source: YungNollywood. One day, during a routine call with her brother, Eunice finally voiced her doubts. That conversation probably started like this, “I don’t think nursing is for me.” Her brother played a key role in setting her up for her tech dream. He helped create a plan for her. Before long, Eunice started taking Harvard University’s CS50 Introduction to Computer Science—one of the best computer science open courses on the internet for anybody working in tech. Afterwards she contributed to an open-source project called the Odin Project. There, she learnt the basics, HTML and CSS, before advancing to the nuttier stuff in Node.js and database management. Yet, for her, this was the start of what she describes as a “wonderful but challenging” journey. *Newsletter continues after break New job, who dis? Fortune favors the bold, they say, and Eunice’s boldness paid off when she was accepted into the Women Techsters programme. Suddenly, her days were filled with intense four-hour calls, her nights with personal study sessions. The pressure to start a nursing career loomed large, but Eunice stood her ground, despite facing setbacks like lacking a functioning laptop. But Eunice wasn’t done yet. She graduated at the top of her class in the Women Techsters program, a testament to her dedication. And as if to put a cherry on top of her tech journey, her team, Techbots, clinched the first runner-up position in a hackathon organised by BeerTech Africa, bagging a cool $2,000 tech money. Image source: Eunice Jacob Entering tech didn’t come without the struggles. It took Eunice one year of self-learning and many job applications after to land her first role in tech. Her first job in 2022 was as a backend developer. It came with a paycheck that made her eyes pop: ₦150,000—more than just money, it was validation of her hard work, and her daring career switch. That made her work even harder. Today, Eunice works as a full-stack engineer at Famasi Africa. From the halls of a nursing college to the binary world of tech, Eunice’s journey was anything but ordinary. She traded stethoscopes for syntax, bandages for brackets. Learning software development felt right for her, now she feels at home doing what she loves. *Newsletter continues after break Anybody can do it too If you’re someone who’s looking to pivot into tech and weighing your options, Eunice wants you to know these five things: Follow your trail and don’t be afraid to change careers if you find tech more exciting Learn continuously and contribute to open-source projects. Take advantage of free resources and online courses. Stay hungry for opportunities. Most importantly, join tech communities. We can’t stress the last part enough. If you want to grow in anything you’re doing, gather people around you who are on the same path as you, and recommend Entering Tech newsletter to them. They understand your journey better than anyone and can provide support in your down days, guidance when you’re confused, and answers when you have questions. Image source: YungNollywood If you’re still in school, find tech communities to plug into and grow. Some standout ones are Microsoft Learn Student Ambassadors, Data Science Nigeria, Zindi Africa, Ingressive for Good (I4G), and Google Developer Student Clubs. Most of them already exist in your university. If you’re out of school, don’t worry, we’ve got you covered. Staying active and contributing in communities like Stack Overflow, GitHub, and Codementor could make
Read MoreMeta will appeal $220 million FCCPC fine, disagrees with data privacy claims
Three years after opening an investigation into Whatsapp LLC and its parent company Meta over claims that it did not allow users the option of consenting to the gathering and use of their personal data, Nigeria’s Federal Competition and Consumer Protection Commission (FCCPC) has handed down a fine. “The Final order also imposes a monetary penalty of Two Hundred and Twenty Million U.S. Dollars only ($220,000,000.00) (at prevailing exchange rate where applicable) which penalty is in accordance with the FCCPA 2018, and the Federal Competition and Consumer Protection (Administrative Penalties) Regulations 2020 (APR),” said the FCCPC in a statement shared on X. Exclusive: Meta will reduce office space in Lagos after layoffs affected Nigerian team A spokesperson for Meta told TechCabal the company disagreed with the judgment and the fine and planned to appeal. The company also disputed the FCCPC’s central claim. “In 2021, we went to users globally to explain how talking to businesses, among other things would work, and while there was a lot of confusion then, it’s actually proven quite popular. We disagree with the decision today as well as the fine, and we are appealing the decision,” a WhatsApp spokesperson told TechCabal via email. The Consumer Protection Commission and the National Data Protection Commission found Meta “engaged in conduct that constituted multiple and repeated, as well as continuing infringements… particularly, but not limited to abusive, and invasive practices against data subjects in Nigeria.” In October 2023, TechCabal reported that OPay, Meta, and DHL could be asked to pay up to 2% of their gross revenues in 2022 as fines if found guilty of data privacy violations according to Section 48 (5) of the Nigeria Data Protection Act of 2023. At the time, a Meta spokesperson told TechCabal it was assisting the NDPC with its inquiries. “Protecting people’s information and giving them control over their data is a company priority,” the company said. The status of the investigations into OPay and DHL remains undisclosed.
Read MoreMicrosoft shrinks Nigerian office from six to two floors, moves more roles to Kenya
After laying off half of its workforce in Nigeria, Microsoft will reduce its office space at the Kings Tower building in Ikoyi from six floors to two, suggesting a scaleback in its Nigerian operations. One person with direct knowledge of Microsoft’s business said the global technology company may not renew its tenancy in 2025 when its current agreement runs out. “Organizational and workforce adjustments are a necessary and regular part of managing our business,” Microsoft said in an emailed statement. “As we navigate these changes, Microsoft remains steadfast in our commitment to Africa’s growth and development.” Microsoft’s sales team, largely unaffected by layoffs earlier in the year, will occupy the two floors for the next year. Layoffs in May and July 2024 affected most of the engineering team in Nigeria after the company closed its African Development Centre (ADC) in Lagos. One person with knowledge of the matter said engineers who stayed on the team have been asked to relocate to Kenya to join new projects. “While we have made the difficult decision to close the Africa Development Centre in Nigeria, we want to emphasize that this move does not diminish our commitment to Nigeria and the region,” a spokesperson for Microsoft said. “We will continue to operate in Nigeria, actively supporting the country’s transformation objectives. Our investment in key growth areas remains unwavering, and we are determined to contribute to Africa’s progress by providing digital solutions, fostering innovation, and empowering local talent.” Exclusive: Meta will reduce office space in Lagos after layoffs affected Nigerian team After it closed the ADC in June 2024, Olatomiwa Williams, the company’s Nigerian MD, met with Finance Minister Wale Edun and shared a similar message. The Nigerian side’s worry was understandable after Microsoft chose to site a $1 billion investment in geothermal data centers in Kenya. It will also set up an engineering team to oversee those investments in the country. Kenya is now two for two in the race to attract foreign direct investment (FDI).
Read MoreBreaking: President Ruto names part of new cabinet to defuse crisis
Kenya’s President William Ruto has named a new cabinet in a bid to end the political crisis that has engulfed the country since anti-government protests started in early June. Six former ministers from the previous cabinet were reappointed. In a televised address on Friday, Ruto retained Aden Duale and Kithure Kindiki, his political allies, as defense and interior ministers, respectively. Ruto also retained Alice Wahome as the minister of lands and Soipan Tuya as the environment minister. Former energy minister Davis Chirchir has been moved to transport ministry while former trade minister Rebecca Miano has been appointed the attorney general. Ruto has brought five new faces including Debra Mulongo (health), Julius Migosi (education), Andrew Karanja (agriculture), Mureithi Miga (water), and Margaret Ndung’u (ICT). “I’m continuing to take consultations across political divide on the balance of the remaining cabinet. Further consultations are ongoing after which I will announce more names in due course,” said Ruto. “Additionally, I will be issue clear assignments for the new cabinet next week.” *This is a developing story
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Kenya demands details on $5.7m grant to alleged protest backers
Kenya has asked Ford Foundation, a US-based non-profit, to provide information on a $5.78 million grant to 16 organisations which the government accused of funding the ongoing protests in what will be interpreted as a desperate move to shift blame. On Thursday, the foreign affairs ministry asked the foundation to provide details of all grantees and their activities. On July 15, President William Ruto accused the US organisation of being behind the protests. “It is noteworthy that several of your grantees below mentioned received a total of $5.78 million between April 2023 and May 2024 – with unexplained expedited funding amounting to $1.49 million over the last month alone,” Korir Sing’oei, foreign affairs permanent secretary wrote in a letter. “Deeply concerning is that most of the grantees have been at the centre of the anti-Finance Bill protests and the subsequent anarchic mobilisation that have sought to upend the peace and security of the state.” The demand comes after the organisation denied involvement in the anti-government protests. Some of its notable grantees include Africa Uncensored, an independent media outlet, Transparency International, Kenya Human Rights Commission and Africa Centre for Open Governance. “We did not fund or sponsor the recent protests against the Finance Bill and have a strictly non-partisan policy for all of our grantmaking,” Tolu Onafowokan, Ford Foundation director of communications, said on Tuesday. Ford Foundation joins the list of individuals and organisations Kenyan officials have blamed for the protests. In June, lawmakers loyal to Ruto blamed former President Uhuru Kenyata and the opposition. The government spokesman Isaac Mwaura later said Russia was behind the demonstrations. Ruto has made some concessions but protesters maintain that their grievances are legitimate and the month-long demonstrations will continue. Have you got your early-bird tickets to the Moonshot Conference? Click this link to grab ’em and check out our fast-growing list of speakers coming to the conference!
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Tecno Pop 7 vs. Tecno Pop 8
The Tecno Pop 7 and Pop 8 smartphones cater to you, especially if you’re a budget-conscious consumer. Despite sharing core features, the two phones differ significantly in design, performance, display, and additional features. Here’s a concise comparison to aid your purchasing decision of the Tecno devices: Design and display The Pop 8 features a contemporary design with a hole-punch display, offering a slightly larger screen-to-body ratio than the Pop 7’s notch design. Additionally, the Pop 8 introduces a “Magic Skin Leather” finish for selected models, enhancing its visual appeal. Performance and processor The Pop 8, equipped with a more powerful octa-core processor, promises improved performance and multitasking capabilities over the Pop 7’s unspecified chipset. This upgrade will be noticeable in resource-intensive tasks and overall system responsiveness. Display quality and refresh rate Both devices feature a 6.6-inch HD+ display, but the Pop 8 stands out with a 90Hz refresh rate, providing smoother animations, scrolling, and an overall better visual experience compared to the standard 60Hz refresh rate on the Pop 7. Camera capabilities Both models offer similar camera configurations with AI capabilities. However, the Pop 8’s camera system might deliver slight improvements in image quality and low-light performance due to potential advancements in image processing technology. Storage and memory The Pop 8 offers more flexible storage options, with configurations of up to 128GB of internal storage and expandable memory support. This gives users ample space for applications, media, and files. Tecno Pop 7 vs. Tecno Pop 8 in Price Price remains a crucial factor when choosing a smartphone. Here’s an overview: Tecno Pop 7: Priced between ₦96,000 and ₦110,000. Tecno Pop 8: Typically ranges from ₦120,000 to ₦130,000. It is advisable to compare prices from different retailers to find the best deals. Prices may vary based on location, retailer, and ongoing promotions. Additional features in Tecno Pop 7 vs. Tecno Pop 8 The Pop 8 incorporates a side-mounted fingerprint sensor, which provides a more convenient and accessible unlocking method than the rear-mounted sensor on the Pop 7. Moreover, the Pop 8 might include additional software enhancements or features not present in the Pop 7. Final thoughts on Tecno Pop 7 vs. Tecno Pop 8 The Pop 8 offers improvements in design, performance, display quality, and additional features over the Pop 7. However, the choice between the two depends on individual priorities and budget constraints. Consumers seeking a more modern device with enhanced capabilities may prefer the Pop 8, while those prioritising affordability and basic functionalities might find the Pop 7 more suitable.
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2024 JAMB result slip printing to begin soon
During the policy meeting on 18 July 2024, the Joint Admissions and Matriculation Board (JAMB) disclosed the minimum admissible marks for Nigerian tertiary institutions and hinted the imminence of printing the JAMB original result slip 2024. This may especially come as placating news for candidates who have not been able to access their 2024 JAMB results due to lost or damaged SIMs or other issues. Implicit indication of results slip imminent availability In his address, the JAMB registrar implicitly disclosed that candidates may soon be able to print their JAMB original result slip 2024 via the JAMB portal. Currently, candidates can only check their UTME results through SMS, but this upcoming update will allow them to access and print their detailed result slips online. According to the registrar, this document is a requirement for the 2024 admission processes in all higher education institutions across Nigeria. So since tertiary institutions will demand the original result slip during screening and verification exercises, it is highly likely JAMB will make it accessible soon. Potential steps to obtain the JAMB original result slip 2024 Candidates must visit the official JAMB website to start the printing process once it becomes available. By logging into their profiles using their registration details, they can navigate to the section designated for the result slip. The printing process requires a nominal fee, which candidates can pay via multiple online payment platforms integrated into the JAMB portal. Importance of the original result slip The JAMB original result slip 2024 contains not only candidates’ scores but also detailed information such as their examination number, centre, and subject combinations. Admission officers use this comprehensive information to verify the authenticity of the results presented by applicants. Therefore, candidates must promptly report any discrepancies or errors in the result slip to JAMB for correction. Final thoughts on 2024 JAMB result slip printing new updates Printing the JAMB original result for 2024 is an essential step for candidates aspiring to gain admission into Nigerian tertiary institutions. The new updates provided during the policy meeting underscore the importance of this document in the admission process. Candidates must follow the outlined procedures meticulously to meet the institutions’ requirements.
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Breaking: Nation Media CEO Stephen Gitagama resigns, 80% of board to leave
Stephen Gitagama, the chief executive of Nation Media Group (NMG), East Africa’s largest media house, will leave at the end of July 2024. NMG’s chief financial officer, Richard Tobiko, will become interim CEO. “My tenure as CEO at NMG will come to an end by August 1st,” Gitagama, who served as CEO for seven years, told employees on Friday. “I’m leaving behind a very strong team, and with the dedication you have, I believe you will go far.” Gitagama’s departure follows the company’s May and June layoffs, which affected more than 16 employees. This was the fifth round of layoffs since Gitagama took over from former CEO Joe Muganda. NGM did not immediately respond to a request for comments. At the same staff meeting, NMG board chair Wilfred Kiboro said that 80% of board members would also leave the company by the end of 2024, raising questions about the company’s future direction after the restructuring. While Gitagama didn’t disclose the reason for his exit, one person with direct knowledge of the matter told TechCabal that the board was not pleased by the pace of NMG’s digital transformation. Faced with declining newspaper circulation and ad revenue, the company recently revamped its digital publications. Kiboro admitted that the company, with publications in Kenya, Uganda, Tanzania, and Rwanda, faces a “dying product” and is undergoing a major shift. In 2023, the Daily Nation newspaper, NMG’s revenue driver made a loss for the first time in decades, sinking the company into a KES 205.7 million ($1.6 million) loss. NMG is also the parent company for Business Daily and NTV business publications. “The print business is a dying product. With a change of mindset to think digital first is very important,” Kiboro said. “We are going to form a new company which is wholly digital. We have to think differently from what we have been doing before.” Have you got your early-bird tickets to the Moonshot Conference? Click this link to grab ’em and check out our fast-growing list of speakers coming to the conference!
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👨🏿🚀TechCabal Daily – Cameroon’s new score
In partnership with Share this newsletter: Lire en Français اقرأ هذا باللغة العربية TGIF Nigeria’s payments landscape is about to get a major shakeup, and it all hinges on collaboration. Unified Payments, a company with deep roots in the industry, just secured a crucial license that positions it as a champion for teamwork. This isn’t your typical competitor story. Unified Payments plans to work with everyone, from rivals like NIBSS to booming neobanks like Opay and Moniepoint. Its goal? Ensuring seamless service and growth for the entire Nigerian fintech ecosystem. Intrigued by how collaboration can revolutionise an industry? Dig deep into our coverage here. In today’s edition Cameroon receives $38 billion from South Korea Nigeria proposes new bill for e-commerce platforms South Sudan gets Starlink Funding tracker The World Wide Web3 Events Funding Cameroon receives $38 billion from South Korea to improve record-keeping Cameroon has finalised a CFA23.21 billion ($38 million) funding agreement with South Korea to set up a digitised national registry. Nearly half of all births in Cameroon are unrecorded, making it difficult to plan for healthcare, education, and voter registration—especially in rural areas. This lack of documentation isn’t unique to Cameroon alone. Globally, nearly 40% of deaths are not registered, and in low-income countries, only 8% of reported deaths have documented causes. Thankfully, even before the partnership with South Korea, Cameroon was already taking matters into its own hands. It issued 500,000 birth certificates in 2022 to previously undocumented children in rural areas, off the back of a $2.8 million grant. And in 2023, it partnered with OpenCRVS, an open-source civil registration platform to develop a database for residents in 20 municipal councils, funded by research agencies from Germany and South Korea. Now, with bigger funding comes bigger plans. Cameroon is set on using technology to make things better. Additionally, the funding will support other initiatives: $4.8 million for an identity system, $5.6 million for an e-procurement platform, and $8 million for a “Smart Campus” project to improve public record-keeping. As Cameroon plans to digitise its record-keeping process, cloud cost is expected to increase in order to accommodate the change. And if anything, managing data on the cloud is expensive. Read Moniepoint’s 2024 Informal Economy Report 7 out of 10 informal business owners borrow money for their business. Click here to find out more about Nigeria’s informal economy and credit. Regulations Nigeria proposes new bill for e-commerce platforms It’s been raining taxes and regulations from Nigerian lawmakers. Nigerian lawmakers have introduced a raft of policies over the past few days. On Wednesday, Nigerian President Bola Ahmed Tinubu wrote to the senate to demand a 50% tax on foreign exchange gains made by banks. Everybody is getting taxed regulated: In a new bid to regulate and protect trading on Nigerian e-commerce platforms, the federal government alongside the National Insurance Commission (NAICOM) is developing a bill that demands new information requirements from e-commerce platforms. The proposed bill requires e-commerce platforms like Jumia and Konga to provide crucial information about themselves, including their legal names, addresses, and phone numbers. This information will be used to communicate with the seller and used in cases of legal proceedings. The bill also requires these platforms to provide “accurate and accessible information describing the goods or services offered”. The bill requires electronic sellers to clearly disclose transaction terms, conditions, and costs to consumers in a concise and comprehensive manner, including payment terms and methods; return, exchange, cancellation, and refund policies; and withdrawal and termination conditions. The stakes are now higher: The bill is part of a broader National Digital Economy and E-Governance Bill which will see e-commerce startups fined if they contravene any section of the law. When passed into law, Nigeria’s Minister of Communications, Innovation, and Digital Economy, Bosun Tijani, says the bill will provide a legal framework and accelerate progress in the digital economy. Join Fincra at API Conference on July 20, 2024 Calling all devs!! This is your chance to dive deep into Fincra’s extensive suite of payment APIs and accompanying SDKs. Come and see how you can build your next big idea with easy-to-integrate APIs. Reserve your spot here! Internet Starlink gets approved in South Sudan Elon Musk’s SpaceX has secured a license to operate its Starlink satellite internet service in South Sudan, a welcome development for a country struggling with a 12.1% internet penetration rate. However, the path forward for Starlink isn’t exactly smooth sailing. First hurdle: finding a partner. While the license is a green light, SpaceX needs a local distributor to sell Starlink terminals within South Sudan. South Sudan has faced instability since gaining independence in 2011, and recent unrest in neighbouring Sudan has added strain. This complex political and security landscape poses a challenge for Starlink’s rollout. Second hurdle: avoiding black markets.A recent Bloomberg investigation revealed illegal Starlink terminal sales in some countries, raising concerns about potential misuse in South Sudan. Ensuring responsible distribution will be critical. The big picture: Despite these challenges, Starlink’s arrival could significantly improve internet connectivity for South Sudan’s citizens, with only 3.97 million mobile connections currently available according to GSMA. However, successfully navigating these hurdles will be crucial for Starlink to realise its potential. Paystack Virtual Terminal is now live in more countries Paystack Virtual Terminalhelps businesses accept secure, in-person payments with real-time WhatsApp confirmations and ZERO hardware costs. Enjoy multiple in-person payment channels, easy end-of-day reconciliation, and more. Learn more on the Paystack blog → TC Insights Funding Tracker This week, Egyptian fintech startup Dopay closed a US$13.5 million Series A extension round, topping up its $18 million Series A round raised in 2021. Argentem Creek Partners led the round with participation from existing investors. (July 18) Here’s the other deal for the week: South African travel-focused fintech TurnStay secured US$300,000 in funding from Silicon Valley and New York-based investors DFS Lab and DCG. (July 16) Kenya’s Uncover, a tech-enabled emerging beauty brand, closed a US$1.4 million seed II funding. The round was co-led by EQ2 Ventures and IgniteXL
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