- November 29 2023
Bolt Kenya expels 5,000 drivers in six months over safety concerns
Bolt is taking a stringent approach to safety following years of a tainted reputation in Kenya. Bolt, an Estonian ride-hailing company, has expelled over 5,000 drivers in Kenya due to non-compliance and safety-related issues following a directive from the National Transport and Safety Authority (NTSA). Bolt discontinued the accounts of the affected driver partners over the last six months, seemingly to adhere to tough safety regulations by the NTSA. The e-cab company, which has a presence in over 15 towns and cities in Kenya, adds that it will invest KES 20 million ($130,000) in safety-related practices. A few weeks ago, the NTSA asked the ride-hailing firm to explain how it would address driver and rider safety concerns that have been raised over the years, which have included instances of drivers physically assaulting passengers and unauthorised selling of Bolt driver accounts to third parties. The directive was a prerequisite for Bolt to receive its annual license renewal. The company later stated that it had developed a plan to ensure safety on its platform and discontinued the controversial “booking charge” it had introduced earlier, which had caused disagreements among drivers and customers. “We understand the trust our users place in us, and we are taking proactive steps to ensure their well-being during every ride,” said Linda Ndungu, Bolt Kenya country manager. To this end, Bolt says it is improving safety with internal measures, including a randomised driver selfie check. It will also offer training for riders and drivers, and enforce strict compliance while suspending violators. The company adds that it has enhanced reporting tools to make it easier to report safety concerns. “Bolt has also intensified its efforts to enforce platform guidelines. Any driver or rider found in violation of safety standards as well as being non-compliant will face swift and decisive consequences, including permanent suspension from the platform,” Bolt clarified in an emailed statement. Bolt Kenya has been facing driver dissatisfaction due to its commission rates exceeding the government’s suggested 18%, including booking fees. Some driver partners have been linked to assault and incidents of sexual harassment that have tainted the platform’s reputation.
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- November 29 2023
TechCabal Daily – LemFi pauses Ghanaian ops days after BoG suspension
In partnership with Share this newsletter: Lire en Français اقرأ هذا باللغة العربية Good morning We’re still hiring Senior Reporters in Nigeria, Kenya and South Africa. If you know great storytellers who are passionate about the business of tech in Africa, send them our way by sharing this link with them. If you’re one yourself , then apply. Do it. Join us. Quickly. Don’t hesitate, apply now. In today’s edition LemFi pauses Ghanaian ops weeks after BoG suspension Twiga has new funding Kenya’s startup bill is one step closer Orange pulls out of Ethio Telecom sale Mozambique approves $80 billion energy plan The World Wide Web3 Opportunities Fintech Lemfi halts operations in Ghana amid regulatory concerns Ridwan Olalere and Rian Cochran, co-founders of LemFi. LemFi has been forced to suspend its operations in Ghana. The remittance startup halted its operations one week after the Central Bank of Ghana (BoG) identified LemFi as one of eight fintechs operating without the necessary regulatory approvals. What approval? In Ghana, like many other countries, companies can’t trade foreign currency without a licence. If caught doing so, they stand to face penalties of up to seven hundred penalty units, imprisonment for a maximum of eighteen months, or both. In this case, LemFi was barred from operating in Ghana along with other operators like Wise and PayPal. The Central Bank of Ghana also warned all financial institutions in the country to stop dealing with these fintechs. Following LemFi’s suspension, users will no longer be able to send money to banks or mobile money wallets in the country. What now? A source familiar with the company’s operations said that it plans to work with Ghanaian regulators to obtain the necessary licences. Access payments with Moniepoint Moniepoint has made it simple for your business to access payments while providing access to credit and other business tools. Open an account today here. Funding Twiga secures funding to pay its debts GIF source: Tenor Twiga has secured undisclosed funding just weeks after it faced a KES40 million ($261,878.75) debt lawsuit from Incentro Africa, a cloud services vendor. Creadev, Juven, TLcom Capital Partners, and DOB Equity led the founding round. The investment comes at a time when Twiga is reinventing itself after previously undergoing a rough patch. The startup laid off a third of its workforce in August. While the CEO didn’t expressly state what the funds would be used for, the announcement came after Twiga’s CEO said, in a now-deleted medium post, that plans were underway to repay long-standing dues. ICYMI:In September, Incentro Africa, a Kenyan Google Premier partner who provided Google Cloud Services and Partner Service Funds to Twiga Foods, sued Twiga for the non-payment of KES 40 million ($261,878.75) debt. Incentro Africa had threatened to pursue a liquidation order against Twiga Foods if they failed to settle the debt. However, none of that will be happening as Twiga seems to be getting out of the water with the new capital injection from its old-time investors. Twiga, however, said Incentro Africa’s legal actions were fueled by ulterior motives. Twiga says that Incentro Africa’s actions were fueled by Twiga’s enquiry of Google Ireland regarding its account’s billing setup, structure, and management. Regulation Kenya’s Startup Bill to be signed into law in 2024 Kenyan president William Ruto signing the 2023 Finance Bill Kenya’s President, William Ruto has announced that the country’s Startup Bill 2022 is set to become law by May or April 2024. The Startup Bill was initially introduced in the Senate in 2021. After receiving its first reading in February 2023, it is currently undergoing further discussions in the Senate. Stat of the week: Only three African countries have enacted a Startup Act—Tunisia, Congo and Nigeria. Tunisia’s Act was enacted in 2018, while Congo’s was enacted in September 2022, one month before Nigeria passed its own. Key highlights of Kenya’s bill: The Startup Bill will offer incentives for registered startups, like tax breaks and a dedicated platform for resources. There’s also a plan for a credit guarantee scheme to financially support and train startups for growth. If enacted, the Startup Bill will establish a comprehensive legal framework designed to bolster technological growth, foster innovation, and attract both talent and capital. Zoom out: The context of this legislation is crucial, given Kenya’s ongoing struggle to address unemployment among its youth population. Kenya’s Small and Medium Enterprise (SME) sector employs over 80% of Kenyan youth annually to help alleviate unemployment in the country. Despite their efforts, these SMEs struggle to be sustainable as nearly 75% of them shut down after a short period. Checkout the Paystack Changelog Paystack enabled single and bulk transfers to M-PESA Consumer Wallets for merchants in Kenya. See what Paystack has been up to in 2023 → Telecom Orange withdraws from Ethiopian Telecom stake acquisition GIF source: Tenor Orange has taken a step back from its decision to acquire a 45% stake in Ethiopian operator Ethio Telecom. According to the French-owned telecom, market conditions are not conducive for a successful investment. ICYMI: In June 2021, Ethiopia expressed interest in buying a 40% stake in Ethio Telecom. However, in March 2022, the sale was postponed due to economic conditions. The process was later reactivated in November 2022, and in February, the stake was increased. In May 2021, a consortium led by Kenya’s top operator, Safaricom, secured the first private licence to compete with Ethio Telecom. However, further competition has been hindered by various factors, including, a two-year civil war in the northern Tigray region that ended in November 2022 and difficult macroeconomic conditions. Zoom out: Earlier this month, the Ethiopian government cancelled the process of granting a second private telecoms licence due to insufficient market interest. This decision highlights the ongoing challenges that the telecom sector in Ethiopia is currently facing. Energy Mozambique approves R1.5 trillion ($80 billion) energy plan GIF source: Tenor Mozambique is saying hello to a renewable revolution. The country is seeking R1.5 trillion ($80 billion) in funding to implement its energy transition strategy.
Read More- November 28 2023
EchoVC’s new fund will create a pipeline of climate-tech, energy and agri-tech startups
EchoVC, one of Nigeria’s oldest indigenous venture capital firms, wants to be the first institutional cheque for founders building solutions in or related to climate-tech, energy, and agri-tech. This comes as fintech funding lost its dominance this year in favour of investments in energy and climate-tech companies in Africa. The $2.5 million fund dubbed Eco Pilot Fund I will invest up to $200,000 in promising climate tech. Backed by two undisclosed DFIs, the Eco Pilot Fund I will invest in 8 to 10 climate-tech and energy startups across Africa. “As we see more mid-sized and large funds coming to market to back climate and energy startups, we have struggled to find any that are set up to take first money risk or do the work to help kickstart the companies that will later be candidates for investment by these funds,” Taiwo Kamson, a principal investment officer at EchoVC pointed out. “The continent needs these pre-seed stage companies to create and deploy the solutions necessary to meet market demand.” By being the first institutional cheque—EchoVC will invest in pre-seed companies—on a startup’s capitalisation table, EchoVC wants to build a pipeline of early-stage portfolio companies that can match the investor funds that target climate, agri-tech and energy in Africa. “Once you get out of the fintech world you really struggle [to raise funds]… like desert work right there, ” Eghosa Omoigui, founder and managing partner of EchoVC told TechCabal on a call. “That was interesting to us because we realised that if you fund founders who are working in those spaces, they are more likely than not to be mission-driven,” Omoigui said. EchoVC’s pilot fund will seek out technology companies that unlock agricultural productivity and market access for farmers. The pilot will also support energy storage and mini-grid technology. In Nigeria and Kenya, the firm wants to especially support e-mobility (motorcycles and auto-rickshaws) and energy solutions. Both countries have large and growing urban populations with poor urban transportation infrastructure. In Nigeria, reliable grid electricity is non-existent, while Kenya’s government has flagged off an e-mobility campaign that has seen electric bus companies like Basigo set up shop in the country. Being the first institutional investor means taking on more risk and waiting for longer periods to realise profit from successful investments. Founded in 2011, EchoVC has deployed roughly $41 million across several funds and returned just about half (to date) from exited companies, per disclosures on their website. In African VC circles, EchoVC is seen as an investor that is both tough in due diligence and willing to roll up their sleeves and get into the weeds of operating a fledgling business with founders. EchoVC is also raising an additional fund which it will use to back the most promising firms from its initial pilot investments. “We anticipate that our learnings from this vehicle will feed into our investments to be made from our larger 2024 Eco Fund,” Omoigui said in a press statement shared with TechCabal.
Read More- November 28 2023
President Ruto to sign bill that will give tax break to Kenyan startups
The Startup Bill will offer some incentives such as tax breaks and access to credit for startups. William Ruto, Kenya’s President, has confirmed that the Startup Bill 2022, which seeks to provide employment opportunities for Kenyan youth and tax breaks for startups, will be signed into law by April 2024. The announcement was made during the Kenya Innovation Week (KIW), attended by the president and other government officials. “By March, or April next year, we will have a firm startup law in Kenya, which will assist many of our innovators de-risk their innovations and turn them into businesses,” Ruto said in his address. The startup bill has been in the Senate since 2021; it was introduced to the legislative by the current Nairobi governor, Johnson Sakaja. It received its first reading in February 2023 and is currently undergoing further discussions in the Senate. READ MORE: The Nigeria Startup Act has been approved The bill will offer incentives to registered startups, including tax breaks. It further proposes a platform for startups to access information on resources and support. There will be a plan for a credit guarantee scheme to provide financial support and training for startup growth. If passed, the startup bill will also establish a legal framework to boost tech growth, foster innovation, and attract talent and capital. This will involve key roles for national and county governments, such as promoting innovation, facilitating tech transfer, creating jobs and wealth, and connecting research institutions with businesses. Kenya is struggling to offer employment to its large youth population, most of whom are currently jobless. “The youth are the overwhelming majority of millions of unemployed Kenyans,” the president said. Despite the efforts of the SME sector, which has been employing over 80% of the youth annually, one key problem exists—small businesses and enterprises, while crucial in providing job opportunities, struggle to be sustainable as nearly 75% of them close shop after a short period. Amidst scarce job opportunities, Ruto acknowledged that young Kenyans have played an instrumental role in creating startups and successfully closing funding rounds with global firms. “The youth continue to sustain innovation in our economy, with youth-driven startups securing $700 million last year,” the president added.
Read More- November 28 2023
LemFi suspends Ghanaian business after Central bank warning
Lemfi, the remittance startup that raised $33 million in a Series A round in August, has suspended its operations in Ghana one week after the country’s Central Bank said it was operating without regulatory approval. “LemFi users will be unable to send money to banks and mobile money in Ghana,” said LemfFi in a notice to its customers. Lemfi is one of eight remittance companies operating without regulatory approval, Ghana’s Central bank said, warning the public against using the named providers. Ghana’s Foreign Exchange Act allows the regulator to fine companies operating without approval and even prescribes the possibility of imprisonment. While it is unclear when Lemfi launched in Ghana, it named Efia Odo, an actress and influencer, as brand ambassador in January 2023. The company also hired a country manager and ramped up its marketing in Ghana. One source with knowledge of the company’s business said the company will engage Ghanaian regulators, much like it did in Nigeria before it received an International Money Transfer Licence(IMTO). The Central Bank warned the public, commercial banks, dedicated electronic money issuers (DEMI), and enhanced payments service providers (EPSP) about dealing with the listed companies. Other suspended companies by the Ghana Apex bank have We regret to inform you that we are suspending all services to Ghana. As a result, you will be unable to send money to banks and mobile money in Ghana. For many African countries, remittances are an important source of foreign exchange. According to World Bank data, remittance inflows to Sub-Saharan Africa, grew an estimated 5.2% to $53 billion in 2022, compared with 16.4% in the previous year.
Read More- November 28 2023
Quick Fire
with Bemi Idowu
Olugbeminiyi Idowu is the founder and managing director of Talking Drum Communications, a public relations and communications consultancy that supports companies innovating in Africa to shape perceptions and get more effective publicity for the work they are doing. He is an African Tech PR specialist, with extensive experience in leading and delivering successful media campaigns for a wide range of companies – from established global players to Africa-focussed start-ups. What drew you to tech PR specifically? I’ve always been interested in seemingly complex things and the challenge of communicating the value of these things in a clear and meaningful way and this is a skillset that lends itself well to working in technology PR. My technology PR journey started with semiconductors, micro-components and data centres and it was only later that I started working on Software as a Service products and then startups. How do PR strategies differ for global players versus Africa-focused start-ups? PR at its core is basically the same everywhere. It is all about sharing and managing information to shape the perception of an entity. What differs is what the entity is trying to achieve and the context they are operating in. For example, a health tech startup in Europe will typically be trying to tell a very different story from one operating in Africa and success will most likely look different. Our job is to understand what success looks like and do what we can to support our clients in making it happen. One major issue that impacts how PR is done in Africa is the depth of media platforms we currently have. For example, the African tech media landscape is still relatively young and everything falls under the “tech” umbrella. In other parts of the world, you get to work with specialist publications that focus entirely on Information Technology, security, fintech etc. This means you get to tell deeper stories and explore a wider range of narratives for campaigns. What’s the most challenging aspect of your job? I can be quite impatient so this means I am always in a hurry. Dealing with people who don’t have the same sense of urgency can be very frustrating. How do you measure the success of a media campaign? At Talking Drum, we are very particular about understanding what our clients are hoping to achieve with PR and being clear about whether or not PR is the most effective way to achieve that goal. For example, we get some clients talking about using a press release to reach a download target for their app. I’m always quick to say PR can support that goal but it may not be the most effective. We typically see the most impact and ROI from our work when it comes to attracting talent, securing investment, establishing a narrative, brand leadership and stuff like that. These are all results that you can effectively measure and directly link to public relations activities. What’s a common misconception about tech PR? The biggest misconception is that it is just about distributing press releases. I understand where this comes from as press releases are an essential tool in the PR tool kit but there is so much more. There are so many strategies and storytelling tactics that come with PR, as well as different services that a PR professional or business can offer to support businesses in achieving their goals. How do you balance transparency and protecting a company’s interests? From a PR perspective, information should be shared on a need-to-know basis. Our job is to shape a particular perception of our clients and that means we’ll have to be selective about what we share and how we share it. However, it is important to note that this does not mean being deceitful. Honesty and integrity are non-negotiable (certainly for us at Talking Drum). We also have clear standards on the sort of companies we work with so that we don’t compromise our morals and values. What’s a technology trend you think will dominate PR in the next 5 years? Artificial intelligence is the biggest thing for me. I believe tools like ChatGPT and Bard and things like Microsoft Co-Pilot will increasingly take care of a lot of the repetitive administrative tasks associated with PR and free up human hands and minds to make the most of the thinking faculties and deliver more value when it comes to shaping perceptions and supporting organisations and entities to achieve their goals. I know there is a lot of scepticism around AI and the perceived threat to human jobs but history tells us that the impact of technology is always net-positive. I am old enough to remember the days when everything in PR was paper-based – coverage sheets, press clippings etc. Technology has changed all of that and enabled us to do so much more with collating and analysing information to show the value of our work and plan more effectively. In the same way, I believe strongly that artificial intelligence and other emerging technologies will have a similar impact on our industry. What tools or software are indispensable in your line of work? There are a few tools but I don’t want to give away my secrets. However, two tools that I can definitely mention are WhatsApp and Slack . These two can be so efficient for getting things done Especially in Africa where things can move very quickly (when people want to), WhatsApp and Slack make it significantly easier to keep up with the pace of how things are moving without the formality of emails and other channels.
Read More- November 28 2023
Twiga Foods secures new funding as part of plans to pay over 100 suppliers
Twiga Foods, a platform that connects Kenyan farmers to food vendors, has secured undisclosed funding as part of a business refinancing process just weeks after facing a KES 40 million (USD 261,878.75) debt collection lawsuit from Incentro Africa, a cloud services vendor. Twiga secured the new funding from Creadev, Juven, TLcom Capital Partners, and DOB Equity, four investors that participated in its 2021 $50 million Series C. “We have sent over 100 letters informing suppliers that we have now finalised our restructuring and refinancing and they will finally have their long outstanding dues paid,” said Peter Njonjo, Twiga’s CEO, in a now-deleted Medium post posted two weeks ago. It’s a U-turn from Twiga’s original position disputing Incentro’s debt claim. “The statutory demand is made in bad faith and with ulterior motives,” Twiga said in response to Incentro’s original court filing. It also said that the lawsuit was “unreasonable and motivated by malice.” Despite this, Twiga later confirmed it was in talks with Incentro to settle the debt. During the liquidation proceeding, Twiga argued that its reputation would be harmed, seemingly to discourage similar lawsuits from other suppliers. By late 2022, Twiga had over 140 suppliers.
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- November 28 2023
TechCabal Daily – Nigeria wants to protect people from AI
In partnership with Share this newsletter: Lire en Français اقرأ هذا باللغة العربية Good morning In other news on how Instagram is competing with TikTok, you can now download Instagram Reels from public accounts. Just select the share button at the bottom of your screen, and a download button will pop up if the user has a public account and has enabled it. The download Reels will also have the user’s watermark on it, similar to TikTok’s. So far, it looks like Instagram’s plan to compete with TikTok is working with the app at 2.35 billion monthly users compared to TikTok’s 1.1 billion users. In today’s edition Nigeria joins 17 countries to sign global AI safety agreement Zenith Bank to expand to France OneWeb beats Starlink in South Africa Nomsa Chabeli appointed as SABC’s new CEO The World Wide Web3 Opportunities AI Nigeria joins 17 countries to sign global AI safety agreement Image source: Zikoko Memes Nigeria wants to make AI safe for use. On Sunday, the country joined 18 other countries, including the US and UK to unveil a 20-page document that will be the holy grail of AI safety. The countries agreed that companies developing and implementing AI must ensure that their systems prioritise customer and public safety by preventing misuse. What does the agreement mean? The non-binding agreement deals with questions of how to keep AI technology from being hijacked by hackers, and it includes recommendations such as only releasing models after appropriate security testing. The framework additionally outlines recommendations for safeguarding AI systems against misuse, ensuring data integrity, and implementing rigorous vetting processes for software suppliers. While Nigeria is the only participating African country in the agreement, the move is usual as the country has yet to pass its own AI act into law. The big picture: AI safety and regulation have been a subject of debate globally, with several governments weighing in. AI safety was partly the subject of debate in the OpenAI saga, with people fearing AI was being developed too fast without considering its consequences. The release of language models like GPT-3 sparked concerns about the ability of AI to generate harmful or misleading content. At the same time, the company’s non-transparent research practices raised questions about accountability and oversight. However, developments like this by governments around the world shine a light on the importance of AI and the need to shape its development and ensure safety for everyone involved. Access payments with Moniepoint Moniepoint has made it simple for your business to access payments while providing access to credit and other business tools. Open an account today here. Expansions Zenith Bank to expand to France Image source: Premium Times Zenith Bank is spreading its wings to Europe. The Nigerian commercial bank will set up shop in France in the coming months, according to CEO Ebenezer Onyeagwu. Onyeagwu said the bank had signed a Memorandum of Understanding (MoU) with the French government to initiate the issuance of a banking licence, which will kick-start the bank’s operations in the country. The CEO, however, didn’t say when the licence-issuing process would be complete. Zenith’s move to France mirrors Access Bank, Nigeria’s largest lender by assets, proposed move to Asia in 2024. The big picture: Zenith, which currently has subsidiaries in The Gambia, Ghana, Sierra Leone, the United Kingdom, UAE, and China, joins a host of other Nigerian commercial banks offering cross-border trading to customers on the global stage. Per this TechCabal report, the bank’s goal is to encourage cross-border marketing and position itself as a leader in commercial and retail segments. The bank, with ₦13.38 trillion ($177.06 billion) in customer deposits, witnessed significant growth this year alone. Its financial results for the third quarter of 2023 rose by 149% to ₦505 billion ($6.3 billion). Internet OneWeb launches broadband service in South Africa Image Source: Data Centre Dynamics OneWeb has launched its low-earth orbit (LEO) broadband service in South Africa. Through a partnership between telecom company, Paratus and satellite operator, Eutelsat, the Starlink rival will offer fast and reliable internet in areas with connectivity challenges, benefiting sectors such as healthcare, government, mining, agriculture, tourism, and hospitality. The partnership leverages a 10,000-kilometre fibre network across 10 sub-Saharan African countries, providing customers with connectivity to various data centres in Angola, Namibia, and Zambia, along with connectivity to various subsea cable systems, including Equiano. An advantage over Starlink: OneWeb’s satellites orbit at an altitude of 1,200 kilometres, while Starlink’s satellites orbit at an altitude of 550 kilometres. This means that the signal has to travel a shorter distance to reach the ground, resulting in lower latency. OneWeb has already established ground station connectivity in South Africa, Angola, and Mauritius. Zoom out: Starlink, meanwhile, is yet to secure a licence to operate in South Africa due to non-compliance with the country’s equity ownership rules for ISPs. To meet regulations set by the Independent Communications Authority of South Africa (ICASA), companies must allocate 30% of their equity to historically disadvantaged groups. This mandate necessitates Elon Musk and other shareholders to surrender a considerable stake in the service to be provided in the country, a very unlikely mandate. Checkout the Paystack Changelog Paystack integrated with DebiCheck, to simplify recurring payments in South Africa via debit orders. See what Paystack has been up to in 2023 → Media Nomsa Chabeli appointed as SABC’s new CEO Nomsa Chabeli. Image source: The South African The South African Broadcasting Corporation (SABC) has appointed ex-DStv and MTN executive Nomsa Chabeli as its new Group Chief Executive Officer (GCEO). This follows the departure of the former GCEO, Madoda Mxakwe, from SABC five months ago. Nomsa Chabeli is set to assume the role of CEO starting from March 1, 2024. With more than two decades of experience, Chabeli has played significant roles at MTN, Multichoice, SAB, Brand South Africa, GCIS, and Edcon. Chabeli will take over the organisation which is facing financial challenges, including a significant loss of R1.1 billion ($58.7 million) during its 2022/2023 financial year due to
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- November 27 2023
Understanding IP laws is instrumental for the growth of the creative economy
In the digital age, content creators are the lifeblood of the internet, their creativity driving innovation and contributing to economic growth. However, this dynamic community is often plagued by intellectual property (IP) theft, threatening their livelihoods, and undermining trust within the online ecosystem. Many online creators employ the use of music, videos, and photos from other creators while creating theirs, but there seems to be a lot of learning to do about what counts as intellectual property (IP) and even how to properly interact with other creators’ work and IP. IP is anything that’s born out of intellect and enjoys protection under the law, but that’s not the only requirement for a piece of content to be considered IP. For anything to be considered IP and not just an idea, it has to meet certain criteria: sufficient work has to go into creating it, it has to be an original idea, and it has to be placed in a fixed medium of expression ie as a recorded song, a book, a movie, a logo, or a piece of art. IP Laws under the Nigerian Copyright Act of 2022 According to a report, 97.7% of content creators view music as essential to creating their own content, so it’s safe to only very few creators don’t need to use other people’s work in their content. This is the case for Joshua*, a creator who makes funny videos that live on Instagram and TikTok. “Platforms like TikTok typically flag content that has more than 30 seconds of someone’s music or sound, but 90% of what goes into my videos is my own content. I often tag and credit the creators if they’re not very popular,” he says. However, adding credit isn’t sufficient because each piece of content that counts as IP is considered an asset and can be monetised. This means that proper attribution goes beyond just giving credit to the original creator; it has to be done a certain way for it to be right and complete. This means that to use someone else’s IP, you have to reach out to them, give them sufficient information on what the piece of content is to be used for and seek their consent. Otherwise, the piece of content is being devalued, and the original owner might be losing money, whether they know it or not. Of course, like many things, there are a few exceptions to the rule, according to Grace Abubakar, an IP and tech practice lawyer at DLA Piper, “There are exceptions, and we call them fair use. There are times when it’s permissible to use a creator’s work without getting permission from them, and these include for educational purposes or parody/satire. Commercialisation is completely out of the question, so it’s always a good idea to reach out to ask for consent,” she told TechCabal. What actually constitutes IP infringement? According to the Nigerian Copyright Act of 2022, any use or copying of images, music/sound or other forms of IP without permission or consent, especially for commercial purposes, counts as infringement. In such cases, the original owner has the right to seek legal remedies. These typically start with issuing a notice to the infringer, notifying them to take down the piece of content, and in the case where this doesn’t work, issuing a cease and desist. If, after the cease-and-desist, they don’t comply, the court can grant injunctions that legally bind the other party to remove or delete the content or be held in contempt of court or face legal ramifications. Caleb Nmeribe, another associate at DLA Piper, expands more on these rights “There are safeguards under this law that are meant to protect creators from infringement. You have the moral right to safeguard your work from (commercial) exploitation, the right to be attributed and associated with your work, and the right for people to seek consent for the use of your work,” he explains. Other IPs include trademarks, patented designs etc. The owners of these IPs can sue for the use of their property if infringement is discovered. Creators need to be aware of what counts as intellectual property, how it can be monetised, how to protect their IP assets, and how to properly interact with other creators’ assets as well. The Data Protection Act helps to protect creators from infringement and devaluation of their works: people can ask for their work to be taken down, and even repeat offenders could have their accounts taken down. Content creation is a business for many, and for businesses to grow and work, they have to be built on the right structures, which include integrity and the right moral code of ethics. For the creator economy to grow and thrive as much as we want and expect it to, being completely aware of what counts as IP infringement is the best way to work properly with other creators and not stand in the way of them getting their coins.
Read More- November 27 2023
Zenith Bank eyes France expansion, joining other Nigerian banks on global stage
Zenith Bank, a Nigerian tier-1 bank, wants to expand to France as it looks beyond Africa. Zenith Bank, one of Nigeria’s largest banks with ₦13.38 trillion in customer deposits, wants to expand to France, joining the likes of First Bank, UBA and Access Bank which are expanding to other continents. Ebenezer Onyeagwu, Group Managing Director/CEO of Zenith Bank Plc, disclosed at the Chartered Institute of Bankers annual dinner held on Friday evening at Eko Hotels, in Lagos. “This afternoon, we signed a Memorandum of Understanding (MoU) with the government of France to signal the commencement of the issuance of a banking licence to Zenith to commence operations in France,” Onyeagwu said, beaming with a smile. The Zenith Bank CEO was light on the details about when the approvals and regulation of the France subsidiary will be completed. Zenith Bank’s playbook is thus similar to Access Bank’s move to expand into Asia early in 2024, as previously reported by TechCabal. The regulatory approval, if granted, would enable the bank to serve customers in the region that is the largest non-African trading partner. A move like this would be synonymous with South Africa’s Standard Bank Group and TymeBank expansion into Asia, bolstering Access Bank’s assets under management, currently at $26.5 billion. Zenith Bank currently has subsidiaries in The Gambia, Ghana, Sierra Leone, the United Kingdom, UAE, and China with its parent company in Nigeria. Its external goal is to encourage cross-border marketing and position the bank as a leader in commercial and retail segments. Its lending business across its subsidiaries is directed towards international and export trade transactions. Earlier this year, the bank signed an MoU with the African Continental Free Trade Area (AfCFTA), committing $1 million to the SMARTAfCFTA portal, an initiative of the bank to digitalise trade. Zenith Bank’s unaudited third-quarter financial results rose 149% to ₦505 billion.
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