- August 23 2024
Exclusive: TymeBank to launch in Indonesia as it continues Southeast Asia focus
TymeBank, the South African digital bank with R4 billion ($222 million) in customer deposits, will launch in Indonesia by the end of 2024. It is the bank’s third Southeast Asian market, after launching in the Philippines in October 2022 and Vietnam in January 2024. In Indonesia, the company will not immediately pursue a banking license but will offer its lending product, Merchant Cash Advance, to Small and Medium Enterprises (SMEs). It used a similar strategy in Vietnam. “We see a massive opportunity with good profit potential in the small business lending space in Indonesia and the region,” Tyme Group chair Coen Jonker told TechCabal. “We can also build our brand faster because it takes a lot more time and money to get a full banking license and infrastructure up and running.” Founded in 2018 by Coenraad Jonker and Tjaart van der Walt, TymeBank focuses on low-income earners and SMEs. Backed by Tencent, British International Investment, and Patrice Motsepe’s Africa Rainbow Capital (ARC), TymeBank has raised $316 million. It is currently raising a $150 million Series D round and plans to list on the New York Stock Exchange by 2028. With over 60 million SMEs and limited access to traditional financing, Indonesia presents a market opportunity for TymeBank to grow its merchant lending business. It has disbursed $100 million to over 60,000 small businesses in South Africa. The company’s Phillipines operations reported a 2.47 billion Philippine pesos ($42 million) loss in 2023, its first full year of operations. According to Jonker, the company aims to break even in 2025 and achieve full-year profitability in South Africa in 2024. TymeBank will reach 10 million customers in South Africa and 5 million in the Philippines by October 2024. “In the Philippines, we have achieved half in two years of the total customer base that we achieved in South Africa over six years, so that is an amazing growth story,” Jonker said. In the meantime, the Southeast Asia market’s combination of a friendly regulatory environment and expansive potential market has TymeBank focused on the region. In the future, the bank will not rule out an African expansion, with Jonker saying the move is a question of “when and not if.”
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- August 23 2024
Tecno Pop 9 vs. Tecno Pop 8: Any upgrades?
In this article we break down the nuances between Tecno’s two recent offerings: Tecno Pop 9 and the Tecno Pop 8. Both devices aim to capture the budget smartphone market but cater to slightly different audiences. While they share some common ground, some distinctions make one a better choice over the other, depending on your needs. Design and display Tecno Pop 9: The Pop 9 steps up the display game with a 6.67-inch IPS LCD screen, featuring a 120Hz refresh rate and a resolution of 720 x 1612 pixels. The design also exudes a more premium feel with a higher screen-to-body ratio of 84.6%, providing an immersive viewing experience. The 120Hz refresh rate makes a significant difference, particularly in smoother scrolling, gaming, and overall responsiveness. The Pop 9 also introduces three colour variants: Gravity Black, Mystery White, and Alpenglow Gold, enhancing its aesthetic appeal. Tecno Pop 8: In comparison, the Pop 8 offers a 6.52-inch HD+ display with a hole-punch design, giving it a modern look but with a lower screen resolution. The lack of a high refresh rate places it a step behind in terms of fluidity, especially noticeable when transitioning from a 60Hz to a 120Hz display like that of the Pop 9. Although the Pop 8 maintains a sleek design, it lacks the finesse that the Pop 9 offers, particularly for users who value a higher display quality. Verdict: The Tecno Pop 9 clearly outshines the Pop 8 in terms of design and display. The 120Hz refresh rate alone makes it a superior choice for users who appreciate a smooth and responsive screen. The Pop 8, while modern, simply cannot compete on this front. Performance and software Tecno Pop 9: Under the bonnet, the Pop 9 packs a Unisoc T612 chipset paired with either 3GB or 4GB of RAM. It runs on the latest Android 14 with Tecno’s HiOS 14 skin. This combination ensures a smooth and up-to-date user experience, capable of handling most tasks with ease. The device is marketed to deliver over four years of lag-free performance, making it a reliable long-term investment. Tecno Pop 8: The Pop 8, while competent for basic tasks, lacks the processing power to handle more demanding applications. The exact chipset remains unspecified, but its performance limitations are evident, especially when compared to the more robust Pop 9. The Pop 8’s focus on affordability means it sacrifices some of the processing power needed for a more seamless experience, particularly in multitasking and gaming scenarios. Verdict: The Pop 9 takes the lead in performance and software. The inclusion of a more powerful chipset and the latest Android version gives it a considerable edge over the Pop 8, particularly for users who expect more than just basic functionalities. Camera quality Tecno Pop 9: The Pop 9 elevates the camera experience with a dual rear camera setup, including a 50 MP main sensor. This camera setup, complemented by an AI lens and 1080p video recording, is more versatile and capable than the Pop 8’s. The 8 MP front camera, paired with dual LED flash, ensures that selfies remain bright and clear even in low-light conditions. Tecno Pop 8: On the other hand, the Pop 8 features a 13 MP AI rear camera and an 8 MP front camera. While these cameras are adequate for everyday photography, they fall short in challenging lighting conditions and lack the detail and dynamic range offered by the Pop 9. The absence of advanced camera features also limits its appeal to photography enthusiasts. Verdict: The Pop 9 is the clear winner in the camera department. Its superior sensor and additional features provide better overall performance, making it a better choice for users who value photography. Battery life and charging Tecno Pop 9: Both devices share a 5000 mAh battery capacity, promising extended usage between charges. However, the Pop 9’s 18W fast charging gives it a practical edge, reducing downtime and getting users back to their tasks quicker. Tecno Pop 8: While the Pop 8 also boasts a 5000 mAh battery, it lacks the fast charging capability of the Pop 9. This could be a minor inconvenience for users who rely on quick top-ups throughout the day. Verdict: Though both devices offer strong battery life, the Pop 9’s fast charging support gives it the advantage, making it the better option for users who need their devices to be up and running quickly. Tecno Pop 9 vs. Tecno Pop 8: Price and value Tecno Pop 9: Priced between ₦114,000 and ₦131,600, the Pop 9 offers excellent value for its features. The investment in better display, performance, camera quality, and charging speed makes it a worthy upgrade from the Pop 8. Tecno Pop 8: With a price range of ₦120,000 to ₦130,000, the Pop 8 positions itself as a budget-friendly option for users who require basic functionalities. However, the slight difference in price compared to the Pop 9 does not justify the sacrifices in performance and features. Verdict: The Pop 9 offers far more value for money. While the Pop 8 is budget-friendly, the small additional investment in the Pop 9 delivers a substantially better smartphone experience. Final thoughts Tecno Pop 9 vs. Tecno Pop 8: Any upgrades? For users who need a budget smartphone that doesn’t compromise on essential features, the Tecno Pop 9 is the clear choice. It outperforms the Pop 8 in almost every aspect, from display and performance to camera quality and charging speed. The Pop 8, while adequate for basic tasks, cannot match the advanced features and long-term reliability that the Pop 9 offers.
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- August 23 2024
TechCabal Daily – Nigeria to treat electricity as fundamental right
In partnership with Lire en Français اقرأ هذا باللغة العربية TGIF We’ve got more openings on our team. We’re hiring Managing Editors at TechCabal and Zikoko to help shape the editorial direction of our publications. If you’ve got a deep understanding of Africa’s tech ecosystem or Nigeria’s youth culture, and are interested in driving content innovation, then it might be time to supercharge your career by joining the Cabal! OmniRetail taps ex-Jumia man Steve Dakayi to lead expansion Bolt blocks accounts involved in prank orders Vandalising cables to be criminalised in Nigeria Electricity to be considered a right in Nigeria Funding tracker The World Wide Web3 Events Expansions OmniRetail taps ex-Jumia man Steve Dakayi to lead expansion Country Lead for Ivory Coast, Steve Dakayi and the CEO of OmniRetail, Deepankar Rustagi. Image Source: OmniRetail B2B e-commerce companies in Africa endure all kinds of business winter; some don’t make it out. But one company is striking new records. OmniRetail, a pan-African B2B e-commerce company, is expanding its play into Francophone Africa. Joining that drive is ex-Jumia man, Steve Dakayi, who led commerce and fulfilment at the latter B2C e-commerce company. Four years after its launch in 2019, OmniRetail became a profitable business in a niche market few others have failed. Today, it makes over $139 million in revenue digitising the FMCG distribution value chain. It also records an impressive 5% in net contribution margins; for every $10 it spends, and makes back $0.5—impressive for a battered B2B e-commerce market. By maintaining an asset-light model and providing credit to informal retailers, OmniRetail helps these retailers stock products faster. Lack of access to credit and difficulty getting their stocks on time haunt retail businesses. Through OmniRetail’s products, they get credit access to buy in bulk and get their order delivered in 24 hours. On the supply side, OmniRetail acts as a central hub for retailers, aggregating their orders. By buying in bulk, OmniRetail secures lower prices from suppliers, which it then shares with the retailers, making the platform more attractive to them. The company operates in Nigeria, Ghana, and Kenya, and is looking to expand to Francophone Africa, starting from Ivory Coast. To lead that charge, it has turned to one man with experience leading FMCG chain distribution in this region; Steve Dakayi. Dakayi, who previously founded a similar B2B e-commerce supply-side company, BetaStore, will head OmniRetail’s Ivory Coast business. Read Moniepoint’s 2024 Informal Economy Report Did you know that 57.7% of the business owners in Nigeria’s informal economy are under 34 years old? Click here to find out more about the demographics of Nigeria’s informal economy. Ride-Hailing Bolt blocks accounts involved in prank orders Image source: Bolt When developing applications, product managers usually anticipate potential edge cases that arise from user behaviours or misuse of features. Nothing may have prepared Bolt’s product team for the misuse of its inter-country ride requests feature yesterday. While the feature allowed for the convenience of helping someone book a ride across international borders, several videos on X (formerly Twitter) showed South African users booking rides from Nigerian drivers without the intention to follow through. In retaliation, several Nigerians also began ordering rides from South African drivers and then cancelling those rides leaving the drivers stranded. “I drove from Cape Town to Stellenbosch to pick up a customer only to realise it was a fake request,” one Cape Town-based driver told TechCabal. “That’s almost 50km worth of fuel gone because of internet jokes.” To curb the mess, Bolt put a restriction on the accounts of users perpetuating the act. At this time, the inter-country feature is also turned off for users on Bolt. Collect payments anytime anywhere with Fincra Are you dealing with the complexities of collecting payments from your customers? Fincra’s payment gateway makes it easy to accept payments via cards, bank transfers, virtual accounts and mobile money. What’s more? You get to save money on fees when you use Fincra. Get started now. Telcos Vandalising fibre optic cables to be criminalised in Nigeria Image source: Techonomy MTN may still be having a word or two with the Osun State government, but the telco company, alongside others operating in Nigeria, will heave a sigh of relief this week. President Bola Tinubu has approved a gazette urging the public to desist from destroying telco infrastructure, such as fibre-optic cables, data centres, and cell towers. The unreleased gazette lumps up the act as vandalism, an offence punishable by jail term. Vandalism of public property has become a pandemic in Nigeria. In the last 5 years, the government has lost billions of naira to the destruction of rail, oil, electricity, and telco infrastructure. While it has tried to correct this behaviour by handing jail terms and even mulling over the death penalty punishment in the past, telcos will be happy to see this being strongly enforced to reduce how much they spend on repairs. In 2023, telcos spent at least $23 million fixing damaged cables. With Nigeria’s interest preserved in the broadband project, it is working on, it makes sense that the government is intensifying its efforts to protect the 90,000km of fibre optic cables it wants to lay. Regulation Nigeria to consider electricity as a fundamental human right Image Source: TechCabal In July, the Nigeria Electricity Regulatory Commission (NERC) said that electricity consumption was not a fundamental right that could be challenged. Although access to electricity is not exactly specified as a fundamental human right by the United Nations, it is implied within human rights frameworks in countries like India and China. The right to health, education, and standard of living are all dependent on electricity. As Nigeria plays catch up with the rest of the world, the country’s Minister of Power, Adebayo Adelabu, announced yesterday that electricity will now be treated as a fundamental human right. Nigeria has historically struggled with power supply. Most Nigerians receive between 1 and 9 hours of power supply daily. Only 1% of the country’s population receives 24 hours of electricity
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- August 22 2024
Andela appoints ex-Uber executive Carrol Chang as new CEO
Andela, the talent outsourcing company that grew into a unicorn, has appointed Carrol Chang as its new CEO. Chang replaces Andela’s co-founder Jeremy Johnson who is stepping down as CEO and will remain on the company’s board. Chang will join the company’s board on September 17. She served as the global head of driver and courier operations at ride-hailing giant Uber and had stints at McKinsey & Company and the Department of Homeland Security. “I am deeply grateful for the privilege to lead Andela. It’s rare to find a mission-driven company that also has the potential to create a category-defining business. I’m inspired by the way Jeremy has led Andela to this point, and I appreciate the trust he and the Board now put in me to carry forward its mission,” said Chang. Her appointment comes as the ten-year-old company seeks to snag a bigger piece of the global talent market. Andela, which started by training African software developers for jobs at US companies and elsewhere, has grown into a talent marketplace. It became a unicorn in 2021 after raising a $200 million Series E funding round led by SoftBank. The same year, the company expanded to Latin and South America. In 2023, Andela acquired Qualified, an assessment platform that certifies top engineering talents, for an undisclosed amount. “After ten years, I’m deeply proud of the change we’ve helped to catalyze. That said, it’s clear that global hiring is at the beginning of a complete digital transformation, and Carrol is the perfect leader both for Andela’s next stage of growth and to help usher in the era of talent marketplaces,” said Johnson. Founded in 2014, Andela grew to become a premier source for talented developers in Africa thanks to its curriculum and training methodology. The company claims to have trained more than 110,000 tech talents in Africa and helped talented individuals from over 135 countries build world class careers. 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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- August 22 2024
Review of the latest Tecno Pop 9
The Tecno Pop 9 is the latest Tecno Pop series released in 2024. For its power, it comes within affordable ranges in the budget smartphone market. This device, priced from ₦114,000 to ₦131,600, depending on the variant, balances advanced features with value, making it an excellent choice for a good smartphone without parting with a fortune. Display Tecno Pop 9 sports a 6.67-inch IPS LCD screen, offering a resolution of 720 x 1612 pixels. The screen refreshes at a remarkable 120Hz, ensuring a smooth and fluid visual experience, especially during gaming or scrolling through content. This smoothness complements the 4.5G fast network support, allowing users to enjoy high-speed internet without lags. The 120Hz refresh rate enhances the display’s responsiveness, making interactions more immediate and engaging. Performance Powered by the Unisoc T612 chipset and backed by an octa-core CPU, the Tecno Pop 9 delivers a robust performance for its price. The device runs on Android 14 with Tecno’s custom HiOS 14 UI, providing a seamless and user-friendly experience. The model offers three variants: 128GB storage with 4GB RAM, 128GB with 3GB RAM, and a more affordable 64GB with 3GB RAM. Each variant ensures enough space for apps, media, and more. Tecno brags that users can expect the phone to maintain fluency and speed for over four years, providing long-term value. Camera Tecno Pop 9 also shifts photography with its dual rear camera system. The 50 MP main camera, featuring a wide-angle lens with an f/1.8 aperture, captures detailed and vibrant photos, even in low light. The additional AI lens enhances the camera’s adaptability to various shooting conditions. The 8 MP front camera, equipped with dual LED flash, ensures that your selfies remain bright and clear, regardless of the lighting environment. Battery life The device houses a 5000 mAh Li-Po battery, which promises to last a full day, even with demanding applications. The 18W fast charging capability quickly recharges the battery, reducing downtime significantly. Users can confidently rely on the Tecno Pop 9 to stay powered throughout the day. Tecno Pop 9 connectivity The Pop 9 offers comprehensive connectivity options, including GSM, HSPA, LTE, and 4.5G network support. It also features Bluetooth 5.3, GPS, NFC, and a USB Type-C port for charging and data transfer. A 3.5mm headphone jack provides flexibility for audio output, while the dual DTS speakers deliver rich and immersive sound. Tecno Pop 9 design and build The Pop 9 is available in Gravity Black, Mystery White, and Alpenglow Gold. The sleek design measures 163.7 mm in height, 75.6 mm in width, and 8.6 mm in thickness, making it comfortable to hold and use. The side-mounted fingerprint sensor ensures quick and secure access to the device, enhancing both usability and security. Final thoughts on the latest Tecno Pop 9 Tecno Pop 9 is a well-rounded budget smartphone that does not compromise on quality. Its impressive 120Hz display, robust camera system, reliable performance, and long-lasting battery make it an excellent choice for users looking for value without sacrificing features.
Read More- August 22 2024
Bolt blocks accounts involved in fake ride request and canceling trend
Ride-hailing app Bolt has blocked an undisclosed number of accounts requesting fake rides and canceling them after a driver accepted. The company has also restricted intercountry ride requests to curb a trend which has mostly involved Bolt users in Nigeria and South Africa. On Thursday, several accounts on the social platform X posted screenshots of the trend where a Bolt user in either Nigeria or South Africa would request a ride in one of the countries and then cancel it after the driver accepted. It is unclear what the motivations of the trend is beyond internet trolling. “We understand the impact this situation has had on our driver-partners in Nigeria and South Africa. We are committed to ensuring a safe, reliable, and secure experience for all members of our community,” said Yahaya Mohammed, Bolt’s country manager Nigeria at Bolt. “I drove from Cape Town to Stellenbosch to pick up a customer only to realise it was a fake request,” one Cape Town-based driver told TechCabal. “That’s almost 50km worth of fuel gone because of internet jokes.” As Bolt does not reimburse drivers for the fuel spent on cancelled rides, some have resorted to refusing long-distance requests until the situation is addressed by Bolt.
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- August 22 2024
New iPhone 16 series camera upgrade exclusives 2024
Apple is preparing to unveil its highly anticipated iPhone 16 series, and as the September 10 event approaches, leaks and insider information have begun to emerge about the new camera features. Drawing on an exclusive report from AppleInsider, we’ve compiled everything you need to know about the camera upgrades expected in both the standard and Pro models of the iPhone 16. iPhone 16 and iPhone 16 Plus: Dual-Camera system enhancements The iPhone 16 and iPhone 16 Plus will retain their dual-camera setup, but with some notable improvements: Primary camera: The main camera remains at 48MP with an f/1.6 aperture, ensuring crisp and detailed photos. It offers both 1X and 2X optical zoom, maintaining the telephoto quality that users have come to appreciate. Ultra-Wide camera: The ultra-wide camera receives a significant upgrade with a faster f/2.2 aperture, down from f/2.4. This enhancement allows for better performance in low-light conditions by letting more light hit the sensor. Additionally, for the first time in non-Pro models, the ultra-wide lens will support macro photography, enabling users to capture close-up details with precision. Vertical stacking: A subtle design change will see the cameras vertically aligned on the back, moving away from the previous diagonal arrangement. iPhone 16 Pro and iPhone 16 Pro Max: Pro-Level camera innovations The Pro models, iPhone 16 Pro and iPhone 16 Pro Max, are set to receive the most substantial upgrades in the camera department: Telephoto lens: Both Pro models will now feature a 5X telephoto lens, replacing the 3X telephoto found in the iPhone 15 Pro. This upgrade allows users to zoom further without sacrificing image quality, bringing subjects closer than ever. Ultra-Wide camera: The ultra-wide lens on the Pro models will also see a major boost to 48MP, along with pixel-binning technology that allows for better light capture. This results in improved low-light performance and sharper images. Users can expect to take full advantage of this lens when shooting 48MP ProRaw photos, offering more flexibility in post-processing. Additional camera features: The new iPhones will support a new image format called JPEG-XL, adding to the existing formats like HEIF, JPEG, and ProRaw. The Pro models will also introduce 3K video recording at 120 frames per second with Dolby Vision, delivering high-quality video capture. The Capture Button: A new way to shoot Perhaps the most intriguing new feature across all iPhone 16 models is the addition of a capacitive capture button. Here’s what you can expect: Location and functionality: Positioned on the lower-right corner of the device (when held in landscape mode), the button offers intuitive control for photo and video capture. The capacitive nature ensures that it only activates when touched, preventing accidental presses. Customizable actions: Users can customize which camera app the button launches, whether it’s Apple’s native app or a third-party option. The button also supports a force-sensitive half-press, which developers can use to trigger specific actions, such as locking exposure and focus. Touch-Sensitive features: The button acts like a mini trackpad, allowing users to perform actions like zooming in and out, applying filters, adjusting exposure, or even modifying background blur on portrait shots, all with a simple slide of the finger. Final Thoughts The iPhone 16 series promises to bring significant camera upgrades, particularly in the Pro models. From improved low-light performance to the introduction of the new capture button, Apple is once again pushing the boundaries of mobile photography. As we await the official announcement, these leaked details give us a clear picture of what’s to come. Stay tuned for more updates as the launch date approaches.
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- August 22 2024
Breaking: Bank of Botswana reduces interest rate to 1.9%
The Bank of Botswana (BoB) has reduced interest rates by 25 basis points to 1.9% despite rising inflation. It is the third consecutive rate cut in a year. The previous cuts were in December 2023 and June 2024. Headline inflation in July rose to 3.5%, in line with the bank’s target. “We hope that this decision will assist to stimulate the economy,” Bank of Botswana governor Cornelius Dekop said at Thursday’s MPC meeting. Botswana inflation is projected to slightly increase in the medium term but still stay within the bank’s 3-6% target. It is expected to average 3% in 2024. By reducing the lending rate, the bank hopes to boost Botswana’s economy by encouraging lending. In July, the IMF announced that Botswana’s economic growth would be 1% in 2024, lower than an earlier projection of 3.6%. The slow economic growth has been driven by a sharp decline in diamond trading and mining activities which account for 80% of exports, one-third of fiscal revenues, and one-quarter of GDP. Botswana’s diamond production was down 24% in H1 2024 compared to the same period in the previous year, according to a report by De Beers owner Anglo American. 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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- August 22 2024
JAMB provides 2024 matriculation list and disclosure updates
For August 22, 2024, there are updates from the Joint Admissions and Matriculation Board (JAMB) that highlight the ongoing efforts to enhance transparency and integrity in the admissions process for tertiary institutions in Nigeria. With a focus on timely submissions of matriculation lists and the cessation of irregular admissions, JAMB aims to uphold standards and eliminate past pitfalls in the educational sector. Matriculation list submission The Joint Admissions and Matriculation Board (JAMB) has reiterated to tertiary institutions, the importance of timely submission of matriculation lists. This directive aims to enhance accountability and ensure that all admissions align with established guidelines. Key directives: Submission deadline: Institutions must submit their matriculation lists to the Federal Ministry of Education within three months of their matriculation ceremonies. Consequences for non-compliance: Any institution that fails to comply with this directive will face sanctions, including the forfeiture of illegal admissions. Avoiding past pitfalls in admissions JAMB has also urged institutions to learn from previous mistakes that led to the condonement of illegal admissions. The board emphasises the need for strict adherence to guidelines to prevent a recurrence of such issues. Recommendations for institutions: Strict compliance: Institutions must follow the established procedures for admissions to avoid penalties. Awareness of risks: JAMB has warned institutions about the risks associated with bypassing federal guidelines and neglecting advisories on admissions. CAPS adherence for 2024 admissions The Joint Admissions and Matriculation Board (JAMB) has taken a firm stance against illegal admissions practices. The board emphasises the importance of adhering to the Central Admissions Processing System (CAPS) to ensure fairness and transparency in the admissions process. Actions taken: Mandatory admissions enforcement: JAMB has mandated that all institutions comply with CAPS to prevent unauthorised admissions. Investigation into certificate racketeering: A dedicated committee investigates allegations of certificate fraud, particularly involving foreign institutions in Cotonou, Benin Republic. Clarification on disclosure of admissions JAMB has provided clear instructions regarding the disclosure of admissions, particularly concerning past irregularities. Institutions must disclose all candidates admitted outside the CAPS framework to maintain transparency. Disclosure requirements: Immediate disclosure: Institutions must disclose all candidates admitted illegally before 2017 and those within the 2017-2020 window for the Condonement of Undisclosed Illegal Institutional Admissions (CUIIA). Deadline for disclosure: The deadline for these disclosures is set for 31 August 2024. After this date, any undisclosed admissions will not be recognised. JAMB 2024 updates on cessation of irregular admissions JAMB has taken decisive steps to end the practice of irregular admissions. The board has announced that it will no longer condone admissions that do not comply with the CAPS framework. Key measures: Termination of condonement processes: JAMB will terminate the CUIIA process for admissions that do not meet the required standards. Sanctions for Non-Compliance: Institutions that admit candidates outside the CAPS framework after 2020 will face appropriate sanctions, including the forfeiture of such admissions. Final thoughts on JAMB August 2024 matriculation list and disclosure updates The latest developments in the educational sector reflect a commitment to integrity, innovation, and quality. JAMB’s proactive measures against illegal admissions, the emphasis on timely matriculation list submissions, and the focus on avoiding past pitfalls underscore the importance of leadership in shaping the future of education. As institutions continue to adapt to changing circumstances, the focus remains on providing equitable and high-quality educational opportunities for all students.
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- August 22 2024
Exclusive: OmniRetail hires ex-Jumia commercial lead Steve Dakayi to lead Francophone expansion
OmniRetail, an African B2B e-commerce platform, has hired Steve Dakayi as Country Lead for Ivory Coast as it expands into Francophone Africa. Dakayi joins OmniRetail after shutting down BetaStore, a B2B e-commerce startup he founded in 2020. The former Betastore founder has worked in e-commerce for a decade and was commercial and fulfillment lead for Jumia. He will bring his experience to some of the key markets OmniRetail is expanding to. “As a company and philosophy, once you have gotten your foot in properly, you start looking into expansions,” Amber Yadav, OmniRetail Head, Retail Division, said on a call with TechCabal. “We are looking at new geographies that make more sense in Francophone Africa like Cameroon, Senegal, Cote d Ivoire. That is the reason for our expansion.” OmniRetail’s expansion into Francophone Africa mirrors a similar move by B2B e-commerce competition,Wasoko. Francophone Africa has in recent times demonstrated the capacity for massive growth. This can be linked to a stable currency pegged to the Euro, making it immune to FX instability like its West African counterparts. High economic growth is also another factor that makes the Francophone region favourable. According to the IMF, six out of the seven fastest-growing economies in sub-Saharan Africa are francophone countries “Francophone Africa is very underestimated,” Dakayi said, stressing the region’s growth potential. “Some of the latest trends we have observed is significant growth in the middle class. This has led to increased purchasing power and new habits in terms of consumption. These are key growth drivers.” Dakayi believes that OmniRetail’s FMCG focus would thrive in Francophone countries. “We are not looking at the competition. We just want a business driven by unit economics,” he said. To achieve this progress, OmniRetail will focus on building strong partnerships and staying asset-light to drive profitability in these regions. Dakayi will report to Deepankar Rustagi, the CEO of OmniRetail, and head the Francophone expansion, which will begin with Ivory Coast. Dakayi’s appointment comes as OmniRetail intensifies its focus on profitability after being named one of the fastest-growing companies of 2024. Dakayi said the company’s vision is to become the leading e-commerce platform in Africa. 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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