Blog Grid Three Column

April 27 2023

👨🏿‍🚀 TechCabal Daily – Tech Nation lives!

Lire en français Read this email in French. 27 APRIL, 2023 IN PARTNERSHIP WITH Happy pre-Friday Remember that trend where everyone had 10 different futuristic pictures generated via AI? Well, TikTok is reportedly working that into its platform. It is planning to launch a new feature that will allow people to use AI to generate avatars they can use as their profile pictures or share on their stories. All users have to do is submit 10 or more pictures. In today’s edition Tech Nation finds a buyer MultiChoice hikes price of DStv and GOtv Africell launches mobile money in Angola Intellectual pirates arrested in Kenya The World Wide Web3 Event: Code Cash Crop Ag-Hackathon Opportunities TECH NATION LIVES ON Remember when we told you that Tech Nation was going to shut down in March because it had lost its government funding to Barclays Eagle Labs? The organisation has announced that it would not shut down if it found a buyer. And find a buyer it did—the Founders Group (FF Group). A little about FF Group: Brent Hoberman founded the FF Group in 2005, and it comprises the Founders Forum, Founders Factory (an accelerator), and Firstminute Capital (an investment arm). He stated it was built as a “response to the lack of credible, peer-to-peer European entrepreneur networks to rival those that existed in Silicon Valley”. Goodbye, Global Talent Visa:FF Group will be taking on all of Tech Nation’s programmes and may even be reviving some discontinued ones but Tech Nation will not remain the endorsing body of the UK Talent Visa for long. Now, under the umbrella of FF Group, Tech Nation is working with the UK Home Office to find another organisation to take on its role as an endorsing body for the Global Talent visa. But in the meantime, it will continue to oversee Global Talent visa applications through its website to minimise disruption to the service. WORK WITH MONIEPOINT At Moniepoint, we’re creating the best workplace for global talent using the 4M framework- Meaning, Membership, Mastery and Money. This isn’t an ad designed to convince you to join us, but it has all the reasons why you should. Watch it here. This is partner content. MULTICHOICE INCREASES DSTV PRICES AGAIN MultiChoice users in Nigeria have only one choice, to pay more. That is if they can afford it. The satellite TV provider announced an increase in the prices of its DStv and GOtv packages via text message to its subscribers on Tuesday. How much is it now? The new prices for MultiChoice Nigeria’s DStv and GOtv packages will be effective from May 1, 2023. The DStv Premium package will be going from ₦21,000 ($45) to ₦24,500 ($53). The DStv Compact+ package will jump from ₦14,250 ($30) to ₦16,600 ($36). Similarly, the DStv Compact package will go from ₦9,000 ($19) to ₦10,500 ($22). The DStv Confam package, currently priced at ₦5,300 ($11), will see a 17% increment to ₦6,200 ($12). The DStv Yanga package will move from ₦2,950 ($6) to ₦3,500 ($7), and lastly, The DStv Padi package will increase from ₦2,150 ($4) by 16.3% to ₦2,500 ($5). Not the first time: MultiChoice has increased the price of its bouquets three times since 2019. In September 2020, at the peak of the COVID-19 pandemic, MultiChoice Nigeria raised the monthly price of its Premium package and some other higher packages, such as Compact Plus and Compact. However, to provide relief to its customers from the recession in Q4 of 2020 and the impact of the pandemic, MultiChoice Nigeria later slashed its prices on February 1, 2021. But a year later, in March 2022, DStv hiked its prices again due to economic challenges impacting its business operations. ANGOLA’S AFRICELL LAUNCHES MOBILE MONEY OFFERING Pan-African mobile network operator Africell has launched its mobile money service “Afrimoney” in Angola, in partnership with the National Bank of Angola (BNA). The platform will offer mobile recharge, deposits, person-to-person transfers, bill payments, and merchant payments, and it plans to include financial services such as credit, savings, and insurance. Towards digitalisation: Africel believes that the new platform will digitise the country’s informal economy and “unlock” the unbanked population, thus contributing to the country’s economic growth. Additionally, the platform aims to provide essential financial tools to many of approximately 50% of Angolans who don’t have bank accounts, enabling people to transact digitally with others on the network. Zoom out: According to recent data by GSMA, 144 mobile money providers operate in sub-Saharan Africa, accounting for 70% of the $1 trillion global mobile money market. THE WORLD WIDE WEB3 Bitcoin $28,389 + 0.80% Ether $1,871 + 0.35% BNB $329 – 2.90% Cardano $0.40 + 2.77% Name of the coin Price of the coin 24-hour percentage change Source: CoinMarketCap * Data as of 00:20 AM WAT, April 27, 2023. EVENT: CODE CASH CROP AG-HACKATHON Do you have an innovative idea that can scale market-led solutions to ensure food security, eradicate poverty, and prevent famine? Then register for the 4th edition of AFEX’s Code Cash Crop ag hackathon and win $10,000. The hackathon will prioritise ideas that can grow into viable solutions for optimising agriculture trade harnessing the potential of technology, finance, and agriculture. This year, the Ag-hackathon participants will innovate around three core challenges including a price data mining database, creating a USSD application, and developing a warehousing solution. Read about it and submit a proposal for free here. IN OTHER NEWS FROM TECHCABAL How Nigerian online skitmakers avoided stand-up comedy’s high barrier to entry. GTCO’s 2022 report show the company’s plan to take on fintechs like Risevest and Bamboo. OPPORTUNITIES The SaaS Accelerator Program: Africa 2023 has opened applications for its accelerator programme to enable early startups in Africa to receive funding. Selected startups will receive up to $70,000 in funding. Apply by September 7. Growth4Her, a 6-month investment program, is calling for applications from founders in West and Central Africa. Apply by May 8. Young Impact Associate (YIA) fellowship which is funded and implemented in partnership with

April 27 2023

👨🏿‍🚀 TechCabal Daily – Tech Nation lives!

April 26 2023

GTCO’s 2022 report show the company’s plan to take on fintechs like Risevest and Bamboo

Guaranty Trust Holding Company (GTCO), the parent company of GTBank, has released its full-year financial statements for 2022, marking its first anniversary as a holding company. The report demonstrates the company’s continued focus on expanding its non-banking offerings, including wealth management and payment service solutions. GTCO disclosed that it has acquired Investment One Funds Management Limited and Investment One Pension Managers Limited. Investment One is a financial services and capital management firm that was originally incorporated by GTBank. In 2011, GTBank divested from the company, in order to comply with the CBN’s regulation for banks to stay out of non-banking businesses. But a holding company structure means that Investment One is now a subsidiary within GTCO. Investment One will now be known as Guaranty Trust Fund Managers Limited (GTFM) while Guaranty Trust Pension Managers Limited (GTPM) will offer pension services to Nigerians. Digital wealth management platforms According to the financial statement, GTFM—GTCO’s return into the wealth management space—will now be digital first. Image source: TechCabal GTCO’s intention to offer digital-first wealth management solutions strengthens the debate about holding companies competing with fintechs for market share. Fintech startups like Trove, Chaka, Bamboo, and Risevest have built specialised products to help customers manage their wealth and invest in local and foreign securities. Some, like Cowrywise, allow users to save and invest—while educating them and providing custom pseudo-advisory services—albeit in partnership with regulated wealth management institutions. GTCO’s digital-first plan for retail will mean that it will compete with companies like Bamboo and Trove. On the basis of their entry into the payments space with the launch of Squad last year, then GTCO may find some success here. Overall, GTCO continues to demonstrate its market relevance and determination to provide tech-powered solutions beyond legacy banking. Habaripay, the company’s suite of digital solutions for businesses, has now received full approval from Nigeria’s central bank. According to the bank, Habaripay is poised to “provide tools to thrive in the digital economy”—ranging from payment solutions like Squad to Habrishop, an ecommerce platform. Alongside HabariPay, the company says operating the new subsidiaries is in line with the evolution of its vision to become a fully-fledged financial services company, with the capabilities and drive to deliver end-to-end financial services.

April 26 2023

GTCO’s 2022 report show the company’s plan to take on fintechs like Risevest and Bamboo

April 26 2023

GTCO’s 2022 report show the company’s plan to take on fintechs like Risevest and Bamboo

April 26 2023

GTCO’s 2022 report show the company’s plan to take on fintechs like Risevest and Bamboo

April 26 2023

A new chapter for Tech Nation does not include the Global Talent Visa

Tech Nation has been acquired by the Founders Group (FF Group), but it will not remain the endorsing body of the UK Talent Visa for long. After losing a bid for government funding to Barclays Eagle Labs, Tech Nation officially shut down its operations, which have been beneficial to the UK’s tech ecosystem and tech talents worldwide. However, it continued to oversee Global Talent visa applications through its website to minimise disruption to the service. Following its acquisition by FF Group, it is working with the U.K Home Office to find another organisation to take on its role as an endorsing body for the Global Talent visa but will continue offering the service in the meantime. The Founders Group will build on the organisation’s achievements, by relaunching a number of Tech Nation programmes and reports on the UK tech sector as part of its existing portfolio of events and services tailored to entrepreneurs. Brent Hoberman founded the FF Group in 2005, and it comprises the Founders Forum, Founders Factory (an accelerator), and Firstminute Capital (an investment arm). He stated it was built as a “response to the lack of credible, peer-to-peer European entrepreneur networks to rival those that existed in Silicon Valley.” The Tech Nation acquisition is anticipated to further strengthen FF Group’s commitment to supporting tech entrepreneurs and startups in the UK, considering that a third of the U.K.’s tech unicorns passed through at least one of Tech Nation’s growth programs. Tech Nation, now under the ownership of FF Group, is well-positioned to continue its mission of nurturing tech entrepreneurs, fueling the growth of startups, and fostering innovation within the UK tech ecosystem. Leveraging the expertise and resources of FF Group, Tech Nation is poised to make an even greater impact with its programs and initiatives, benefiting the entire UK tech community.

April 26 2023

How Nigerian online skitmakers avoided stand-up comedy’s high barrier to entry

In October 1995, Opa Williams organised the first edition of Nite of a Thousand Laughs, Nigeria’s first mainstream comedy show. The show enjoyed critical success and ran for 17 years, producing some of the biggest comedy talents in the country like Basketmouth, Okey Bakassi, Julius Agwu, and Klint Da Drunk, amongst others. In that span of time, these artists went from being struggling comedians to multimillionaires. As the new acts became successful, they also created their independent show and events, cementing the idea that for comedians, the only route to success was through the stage. As most of these events were in Lagos, hopeful comedians would travel from out of state to navigate the politics in the industry and secure slots at a comedy show. There were running “Warri” jokes among comedians, as a large number moved from Warri to Lagos for their careers. These talents spent months tirelessly working to craft material or scripts that were good enough to make the audience cackle and earn them an invitation to the next show. According to Francis Ogudu, a popular Nigerian comedian fondly known as I Go Dye, getting a slot at a show wasn’t easy business as a newbie. “Regardless of how talented you were, you needed the right people to invite you to the right shows in Lagos, because that was what guaranteed you success. You needed to know an organizer, a sponsor, or even have a friend who could get you on stage at these shows. You could have the funniest material but if there was no one to tell it to, what is the point?,” he shared. But that era of big comedy shows as the only surefire way for comedians to find critical success has changed over the years. Thanks to the internet and social media platforms, comedy’s notoriously high barrier to entry has been reduced, and as Nigeria’s internet connectivity improved, comedy expanded beyond the stage. Recordings of physical comedy shows on YouTube amass millions of views, signalling to comedians that there was an audience beyond those who attended in person. Soon enough, they started creating comedy videos for online audiences. One such show was AY’s Crib, created by the comedian, Ayo Makun. Comedy on social media But that was only one small step in comedy’s evolution. Today, Nigerian comedians can launch their careers anywhere in the world with a smartphone, internet access and basic editing skills. Some of the popular pioneers of social media skits include Crazeclown—a Nigerian doctor then based in Ukraine, whose skits typically demonstrated the hilarious relationship between a father and his mischievous son, Ade—and Woli Agba, whose skits follow the adventures of an overbearing prophet and his cheeky protege, Dele. Today the online comedy scene has many recognisable names like Taooma, Maraji, Justin UG, Josh2funny, Mr Macaroni, Mark Angel, and Lasisi. Without needing to move to Lagos or even appear or stage, they have become household names. Making people laugh is a lot of work Justin Ugonna, known as Justin UG, is a US-based actor and content creator who became popular for his High School Chronicles, a series that depicts the relatable realities of high school in Nigeria. From making dance content for his three followers on Vine in 2009, he moved to Youtube and Instagram in 2016 after seeing how fast the content scene on these apps were growing. Justin didn’t start out wanting to be funny, his videos just happened to make people laugh, and in 2018 —after his video went viral for the first time— he decided to take comedy seriously. Now, he has over 400K followers on Instagram and Twitter, although he says that he doesn’t create content for fame or to amass large followership. At the moment, Justin’s videos are short and sharp, and he doesn’t write any scripts. “My videos are mainly about relatable, everyday stuff. They’re like real-life situations that nearly everybody has experienced at one time or another. So, I just think of scenarios that people would be able to relate to or would bring up nostalgia and just act it, improvising lines as I go.” he said. “However, I’ve started working with a team of three storytellers and one scriptwriter and we brainstorm content ideas together. I always end up not using the scripts from the scriptwriters. We just decide what idea to work with and I shoot,” he shared with TechCabal over a phone call during his lunch break. To shoot his videos, Justin uses his phone, an iPhone 14 Pro Max, and does nearly everything by himself as it helps him maintain autonomy and work on his time. On rare occasions, he employs the help of his roommate to record certain angles he is unable to capture with his tripod. “Once I return from work, have dinner and wake up from my nap, I start thinking of what to shoot because I post at nine o’clock Nigerian time every day, which is 1 am for me. After shooting, I edit —which takes one or two hours—, and post, then use another hour to reply to a couple of comments and see how people are feeling about the video. I try not to shoot videos during the weekends, but it’s almost as if my body is used to it and I can’t sleep otherwise.” Virality is the new marker of success Sharing skits on social media increases the possibility of reaching millions of people in minutes. The virality that social media platforms can give is today’s new marker of success. One skit maker who understands the concept of unplanned virality is Peter Tauna, also known as Mma Kasham, a comedian known for his hilarious depictions of middle-aged mothers in Northern Nigeria. Tauna wasn’t prepared for popularity when it came, and unlike other acts that had to wait months or years to go viral, he achieved it on his first attempt. On Valentine’s Day of 2019, he was about to take a shower when he saw his mother’s wrapper on

April 26 2023

Spleet partners Repit to offer rental support for Africans in the UK

Spleet, a Nigerian proptech startup, has announced a partnership with United Kingdom-based rental assistance specialists, Repit. Repit provides relocation support, property search, viewings, referencing guidance, paperwork negotiations, and settling-in advice. This partnership aims to provide relocation and rental support for Africans moving to the UK. Africans moving to the UK will benefit from this partnership by receiving a 5% discount from Spleet to use Repit’s services, which include advice on what to anticipate from the UK rental market and how to proceed in various circumstances. It also includes access to a dashboard that easily tracks their property options. The alliance is expected to present an advantage to Africans moving to the UK for family, work, or educational reasons. Speaking on the partnership, CEO and Co-founder of Spleet, Akintola Adesanmi said, “We are excited to partner with Repit to provide Africans rental support during their relocation to the UK, moving to a new country can be challenging, especially when it comes to finding a new home. “Immigrants often face difficulty during this process due to unfamiliarity with the UK rental market and legal requirements, no payslip as proof of financial backing, no guarantors etc. Our partnership with Repit will make the process easier and stress-free for everyone.” Unhassling Africans relocation to the UK Relocating to a foreign country can be an incredibly challenging experience, especially when it comes to securing a comfortable and safe living space. For african immigrants in the UK, navigating the rental market can prove particularly daunting due to their lack of familiarity with local norms and procedures. The process of finding a suitable home can therefore become an additional source of stress and anxiety for this immigrant. Legal requirements, proof of financial backing, and lack of guarantors are common pain points experienced by African immigrants in the UK. Spleet partnership with Repit will provide practical solutions that can help make african immigrants relocation process more inclusive, seamless and equitable for all africans.

April 26 2023

MultiChoice increases prices in response to Nigeria’s economic conditions

MultiChoice Nigeria, a satellite TV provider, announced an increase in the prices of its DStv and GOtv packages via text message to its subscribers yesterday. The increase is in response to Nigeria’s rising inflation. The company said in an internal memo, “Due to the various economic challenges impacting our business operations, we have had to review the price of our packages to continue delighting our customers with great entertainment, anytime and anywhere.” The new prices for MultiChoice Nigeria’s DStv and GOtv packages will be effective from May 1, 2023. The DStv Premium package will see a price increase of ₦3,500 or 16.7%, going from ₦21,000 to ₦24,500. The DStv Compact+ package will have an addition of ₦2,350 or 16.5%, jumping from ₦14,250 to ₦16,600. Similarly, the DStv Compact package will go from N9,000 to ₦10,500, a ₦1,500 or 16.7% increase. The DStv Confam package, currently priced at ₦5,300, will see a 17% increment to ₦6,200. The DStv Yanga package will get a ₦550 boost from ₦2,950 to ₦3,500, equivalent to 18.6%. Lastly, the DStv Padi package will increase from ₦2,150 to ₦2,500, a difference of ₦350 or 16.3%. This price review has been received with apathy by subscribers who have experienced similar increases in the past. In September 2020, at the peak of the COVID-19 pandemic, MultiChoice Nigeria raised the monthly price of its Premium package from ₦16,200 to ₦18,400. Other higher packages, such as Compact Plus and Compact, were also affected, with subscribers asked to pay ₦12,400 and ₦7,900 respectively. However, to provide relief to its customers from the recession in Q4 of 2020 and the impact of the pandemic, MultiChoice Nigeria later slashed its prices on February 1, 2021. The DStv HD decoder, dish kit with the Compact package subscription dropped from ₦18,600 to ₦9,900 on the Confam package, while the GOtv decoder, GOtennae with the GOtv Jolli package subscription went from ₦8,400 to ₦6,900. But, in March last 2022, DSTV hiked its prices again due to economic challenges impacting its business operations. The price increase has stirred mixed reactions among subscribers. While some subscribers understand the challenges faced by MultiChoice Nigeria and the need to adjust prices, others have expressed disappointment and dissatisfaction. Many subscribers rely on satellite TV for their daily entertainment, it remains to be seen how these increases in prices may impact their budget and viewing habits.