iPhone iOS 18 now available: How to update & supported devices
Subsequent the iPhone 16 series launch, Apple has now released iOS 18, its latest software update for iPhones. This update offers new features designed to enhance the iPhone experience. From personalisation options to better communication tools, iOS 18 brings a host of improvements. Here’s a breakdown of what’s new, how to install it, and which iPhone devices are compatible with the new iOS 18. What’s new in iPhone iOS 18? Customisation: iOS 18 allows users to arrange their iPhone Home Screen, Lock Screen, and Control Center in new ways. Photos App: Experience the biggest redesign of Photos, making it easier to relive special memories. Messages: New features in Messages enhance how you stay connected with friends and family. Maps: A new hiking experience in Maps enables you to explore the world in a more immersive way. Wallet: Updates to Wallet introduce new ways to manage your cards and tickets. Other Features: Improvements across Safari, Journal, Notes, and more bring added functionality to everyday tasks. Devices supported by iOS 18 Here is the complete list of iPhones that can install iOS 18 apart from the recent iPhone 16: iPhone 15, iPhone 15 Plus, iPhone 15 Pro, iPhone 15 Pro Max iPhone 14, iPhone 14 Plus, iPhone 14 Pro, iPhone 14 Pro Max iPhone 13, iPhone 13 mini, iPhone 13 Pro, iPhone 13 Pro Max iPhone 12, iPhone 12 mini, iPhone 12 Pro, iPhone 12 Pro Max iPhone 11, iPhone 11 Pro, iPhone 11 Pro Max iPhone XS, iPhone XS Max, iPhone XR iPhone SE 2, iPhone SE 3 If your iPhone is on this list, you can access all the new features in iOS 18. How to Update to iOS 18 Updating to iOS 18 is straightforward. Just follow these steps: Back up your data: Before updating, ensure that your data is backed up via iCloud or iTunes. Connect to Wi-Fi: Make sure your device is connected to a stable Wi-Fi network. Check for the update: Go to Settings. Select General. Tap on Software Update. Install iOS 18: If the update is available, you will see the option to install. Tap Install Now to begin the process. Automatic updates: You can also enable Automatic Updates to download and install future updates overnight. Ensure your iPhone has enough charge or is connected to a charger during the update process. Why you should upgrade Upgrading to iOS 18 will not only bring new features but also improve security and overall performance. Regular updates are essential for the safety and longevity of your device.
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Fintech Kopo Kopo names new leadership amid Moniepoint acquisition talks
Kopo Kopo, a Kenyan fintech startup that offers short-term business loans, has appointed Dennis Ondeng as its new CEO. Monday’s leadership change comes 13 months after Kenya’s competition authority approved its proposed acquisition by Nigerian neobank Moniepoint Inc. The company also named Chad Larson as chief financial officer (CFO), while Kibet Yegon will resume as chief technology officer (CTO). Rosemary Muyeshi was appointed chief risk officer (CRO). “We are confident that this dynamic leadership team will further Kopo Kopo’s mission and continue to deliver solutions for businesses in Kenya,” Kopo Kopo said in a statement. Despite the leadership changes, Moniepoint told TechCabal that the acquisition is still in progress. “The transaction is still ongoing but hasn’t been completed yet,” the company said. Kopo Kopo claims it has been profitable since its $2.1 million Series B raise in 2015. The company says its valuation is in the “low tens of millions,” declining to share specific numbers. If completed, the acquisition would see Moniepoint expand to Kenya. Kenya’s regulators scrutinise competition for transactions exceeding KES 1 billion ($7.7 million), suggesting that Moniepoint proposed acquisition of Kopo Kopo falls under its purview. The regulator approved the acquisition in August 2023. Kopo Kopo, with its network of thousands of small and medium-sized business customers, could make Moniepoint market presence in Kenya sound. African tech leaders and global players will be at Moonshot by TechCabal. You can get tickets here.
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How to check NECO 2024 results
The National Examinations Council (NECO) is responsible for conducting the Senior Secondary Certificate Examination (SSCE) in Nigeria. Candidates who took the exam can easily access their results online once they are out. In this guide, we will walk you through the steps to check your NECO results 2024. Steps to check NECO results 2024 Follow these simple steps to access your NECO results 2024 online: Visit the official NECO websiteGo to the official NECO website: www.neco.gov.ng. This is the primary platform for checking NECO results, making it convenient for candidates across the country. Purchase a tokenTo check your NECO results 2024, you will need to buy a NECO result-checking token. You can purchase this token online via the NECO portal. Ensure you have your debit card or internet banking details handy. Log in to the NECO result portalAfter purchasing your token, visit the result-checking section on the NECO website. You will be prompted to log in using your exam year, exam type, and the purchased token. Enter your examination detailsFill in your examination year (2024) and examination type (June/July SSCE). You will also be required to input your 10-digit NECO exam number. Check your resultClick on the “Check Result” button to access your NECO results 2024. Your result will be displayed immediately, showing your scores in all subjects. Notes Ensure stable internet access: To avoid disruptions during the process, ensure you have a stable internet connection. Keep your token safe: The token can be used multiple times, so store it safely in case you need to check your result again. Print a copy: Once you have viewed your NECO results, it’s advisable to print or save a copy for future reference. Final thoughts on how to check NECO 2024 results If you encounter issues while checking your NECO results, such as difficulty purchasing a token or accessing the website, here are a few tips: Try a different browser: If the website doesn’t load properly, switch to another browser or clear your cache. Contact NECO support: If the problem persists, reach out to NECO’s customer service for assistance via the support page on their website. By following these steps, you can easily check your NECO results without any hassle.
Read MoreProfitable FoodCourt laid off nearly 100 staff after process restructuring in May
FoodCourt, the Y Combinator-backed food delivery service, said a redesign of its cooking processes led to nearly 100 employees being made redundant in May 2024. The three-year-old startup, which prepares its meals in dark kitchens and offers a delivery-only model, said customer feedback led to operational changes. “We got bigger kitchen equipment and started preparing a lot of the base ingredients instead of waiting for a customer to order before getting started with it,” said Chef Tilewa Odedina, who manages FoodCourt’s kitchens. Henry Nneji, FoodCourt CEO, told TechCabal that a key goal was to reduce meal preparation time to 30 minutes for its 8,000 active monthly customers. Yet, the optimisation is still a work in progress, with customers complaining about late orders on social media. The startup raised $1.7 million earlier this year, a detail that has not been previously reported says it has an average order value of ₦15,000 and is already profitable. CEO Nneji declined to share actual numbers. The company claims cost efficiency is the key driver of profitability. “You can make a lot of sales and be bleeding just as much cash,” said Odedina. “The company was making a little profit when I joined in 2023, but one would be hard-pressed to figure out where the money was going. We were winging it.” She overhauled the kitchen management process which had allowed theft, wastage, and underpricing. FoodCourt earns money from food sales like a regular restaurant and a 20% commission on delivery fees. In an increasingly cutthroat sector, it competes with restaurant chains and other food delivery companies like Glovo and Chowdeck. In an interesting twist, FoodCourt is also available on Chowdeck following an exclusive agreement in July 2024. Similar to the deal Chowdeck recently signed with Chicken Republic, FoodCourt’s meals will be discounted for customers. One person familiar with the matter said Chowdeck pays for those discounts. “[FoodCourt] had initially considered Glovo but chose Chowdeck because it had a better reputation in terms of delivery time and service delivery,” that person said. Eden Life and YC-backed ChowCentral, quick-service restaurants with a delivery-only model, are also listed on Chowdeck. While competition continues to ratchet up in food delivery, it is doubtful that the winner will simply outspend everyone else. Success may very well lie in a mix of ruthless operational efficiency and finding a key and loyal customer base. There is a lot to appreciate in the startup’s shrewdness, especially in a funding environment where over-spending to blitzscale has not yielded positive returns for deep-pocketed but now-defunct food delivery companies like Jumia Food and Bolt Food. But while it is easy to see how far this can take a bootstrapping restaurant, FoodCourt is a VC-backed cloud kitchen. Like any startup, it needs to attain exponential growth, to live up to whatever valuations investors bought in at, and that may require taking risks a typical restaurant wouldn’t take.
Read MoreBreaking: Nigeria’s headline inflation slows to 32.15% in August
Nigeria’s headline inflation has slowed for the second consecutive month thanks to a drop in food prices driven by the harvest season. Data from the Nigerian Bureau of Statistics (NBS) puts August’s headline inflation at 32.15%, down from 33.40% recorded in August. Food inflation also slowed to 37.52% from 39.53% in July 2024. Although the August inflation rate is far from the CBN’s 21% target, the reading could see the Central Bank hold interest rates at their monetary policy committee meeting on September 23. The MPC in June increased borrowing rates to about 26.25%. Analysts expect that recent increases in fuel prices will affect inflation for the coming months. Nigeria raised fuel prices by 40% after two months of fuel scarcity. The Nigerian National Petroleum Company (NNPC) admitted that it owed petrol suppliers. “Recent policy changes impacting petrol prices and the value of the naira could trigger an uptrend in the inflation rate in the coming months,” said Samuel Onyenkanmi, an analyst at Norreberger. The slowdown in Nigeria’s headline inflation will provide some ease to Nigerians who have endured high living costs. In August, hundreds of citizens protested demanding lower electricity tariffs and the reinstatement of fuel subsidies. “To alleviate currency and inflation pressures in Nigeria, closer policy coordination between fiscal and monetary authorities is essential,” Dumebi Oyewole, Senior Economist at Stears, told TechCabal.
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Tap, pay, go: CashAfrica wants to make payments easy, but first it must change customer behaviour
While digital payments have blown up in Nigeria in the last decade, contactless payments are still unpopular. CashAfrica, a Nigerian fintech startup that builds payment infrastructure for banks and fintechs, believes there’s a business opportunity in contactless payments. Launched in 2023, CashAfrica builds an API that allows banks and fintechs to offer customers a tap-to-pay option within their banking apps. While working to integrate with banks, the fintech offers a mobile app—Cash Mobile—that allows users to make transactions using the tap-to-pay feature. All you have to do is to open the CashMobile app, enter your password, and tap your phone on the payment terminal. The entire transaction process takes less than two seconds. Although contactless payments don’t require authorization before a transaction, Cash Mobile often requires users to enter a password for use. Asamu likened CashAfrica’s tap-to-pay infrastructure to the NIBSS real-time payment system introduced 14 years ago. “Every bank has one send button today because NIBSS works and there is no point replicating it. Our focus is on executing correctly and making sure our product works.” Since it launched, the fintech claims it has processed ₦1 billion from its B2C customers on the app and crossed 1,000 users. It charges 0.3%-1.5% per transaction based on size and volume. CashAfrica must contend with YC-backed Touch and Pay technologies, and potentially other Nigerian banks exploring their own contactless payment solutions. When asked about the possibility of incumbent fintechs implementing their tap-to-pay solutions, Asamu said CashAfrica’s proprietary payment infrastructure is an advantage. With fewer dependencies, Cash Africa claims to offer better margins to its partner banks and fintechs. The company claims it is in the final stages of integrating its solution on the Sterling Bank app. It is also in talks with Wema Bank, Fidelity, and Opay. “Infrastructure-level software like ours is a winner-take-all, if you build it and it works well, the banks will have no reason to integrate two people doing the same thing.” The startup faces an uphill climb in changing customer behavior to adopting contactless payment as a preferred payment medium. Although some of CashAfrica’s target audience already use NFC-enabled cards for commuting, Asamu admits that there is a need to orient people towards using contactless payment. “We do a lot of organic reach and word of mouth.” Adoption will also rely on the available of NFC-enabled smartphones in the market. 83% of Nigerians use Android phones, but not all of these devices have NFCs, reducing the use case for contactless payment options. “We believe more NFC-enabled phones will be imported. You don’t want to ride on a wave of innovation when it is sinking. We believe tap to pay is new in Nigeria and we want to be among the first to the market,“ Asamu said. CashAfrica’s success hinges on its ability to establish a wide distribution network and leverage network effects. The company needs to partner with banks and agent banking platforms like Opay and Moniepoint to integrate its contactless payment solution into their platforms. While CashAfrica is actively engaging with banks and fintechs, its first-mover advantage lies in onboarding users before other players in the market. Moonshot by TechCabal is gathering Africa’s most audacious builders and thinkers in Lagos, Nigeria. You can get tickets here.
Read MoreM-KOPA must pay taxes to Kenya after losing appeal
M-KOPA Holding, an asset financing startup, must now pay taxes in Kenya after losing an appeal at a tax tribunal. The startup appealed against a $6.8 million tax demand for 2017 to 2019, arguing that it’s incorporated in the UK. M-KOPA’s argument, based on the Kenya-United Kingdom Double Taxation Treaty (DTT), was that it is managed and controlled from the UK and therefore exempt from Kenyan taxes. However, the tribunal dismissed this claim. The tribunal ruled that the startup must pay part of the $6.8 million in back taxes, though it did not determine the exact amount the company owes the Kenya Revenue Authority (KRA). Despite M-KOPA’s claims of having a registered office in the UK and most of its directors residing outside Kenya, the tribunal concluded that the company’s tax residency is in Kenya. This means it is subject to Kenyan income and capital gains taxation. “The appellant’s failure to provide evidence to support its argument that the board had actually made core decisions affecting the operation of the company in the meetings held outside Kenya meant that it had failed to discharge the burden of proving that it was not a resident in Kenya as enunciated in Section 30 of the TAT Act,” the tribunal said. The tribunal’s ruling is a major win for the KRA and could have implications for other Kenyan startups with registered tax residency outside Kenya. The tribunal found that the company’s key management decisions are made in Kenya because its CEO, CFO, and CCO are Kenyan residents. Kenya is M-KOPA’s largest market, followed by Nigeria, Ghana and South Africa. The startup’s products include solar power systems, smartphones and electric bikes, which users pay for in small installments. In 2023, M-KOPA secured $250 million of debt and equity funding for its pan-African expansion.
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👨🏿🚀TechCabal Daily – Is Starlink Finally Coming to South Africa?
In partnership with Lire en Français اقرأ هذا باللغة العربية Good morning Start your new week on a light note. For the next few days, we’re offering TC Daily readers 20% off tickets to Moonshot 2024. All you have to do is enter the coupon code “MSTCD” for local tickets, and “MSTCD1” for international tickets. Musk holds talk with President Ramaphosa Sterling Bank’s big bet on a custom banking system Nigerian banks lose $25.7 million to fraud in Q2 2024 Experts expect a tempered inflation rate in Nigeria The World Wide Web3 Events Internet Elon Musk holds talks with South Africa’s Ramaphosa over Starlink GIF source: Tenor Starlink could be only weeks away from getting regulatory approval in South Africa. Founder Elon Musk is now in talks with President Cyril Ramaphosa to bring the satellite internet service provider (ISP) to the country. Since Starlink began its march into African markets in 2022, most southern African countries have been tough nuts for it to crack. In Botswana for example, where it recently got licenced, it had its licence application blocked for more than six months. In Zimbabwe, Starlink can only operate through agents, dealers, and ISPs that the government must clear. South Africa’s own laws require that foreign companies cede 30% of their ownership to historically disadvantaged groups (like marginalised people of colour and women.) But that has always been a fool’s errand because as a privately-held company, there is likely reluctance from Starlink or SpaceX, its parent company, to meet this requirement. Now, post-meeting, Ramaphosa is singing a new tune, calling for Musk to invest in the country: “I have had discussions with him and have said, Elon, you have become so successful and you’re investing in a variety of countries. I want you to come home and invest here.” With South Africa’s broadband issues driving up the demand for Starlink in the country, there is an opportunity here for Musk’s high-speed internet. Its entry into South Africa could shake up the ISP market dominated by companies like Telkom, MTN, and Vodacom. It’s the win South Africans are looking for, but regulators are not budging yet. Who knows? Ramaphosa’s new endorsement could be key for Musk. 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. Banking Sterling Bank’s big bet on custom banking system Image source: Sterling Bank Sterling Bank, a Nigerian bank, is doing something unique: it’s building its own core banking system. This is like a bank deciding to build its own car factory instead of buying cars from a dealership. It’s a massive, expensive, and risky undertaking, but it could also be a huge advantage for the bank. In banking, most institutions buy their core banking systems off the shelf. It’s easier, and faster, but it also comes with some significant downsides. For starters, when you buy a pre-built core banking system, you’re at the mercy of the vendor. And if you need to make changes to the system, you’re going to have to pay for it. On the other hand, building your own core banking system, like Sterling’s, gives you complete control. You can customise it to do exactly what you want, without having to worry about the limitations of a pre-built system. And if you need to make changes, you can do it yourself, without having to pay a vendor. But building your own core banking system is a lot of work. It’s expensive, time-consuming, and risky. And if you screw up, it could be a disaster. Studies have shown that the total cost of ownership (TCO) for a custom-built system can be higher than that of a purchased solution. The TCO of a custom-built core banking system can be 20-30% higher than that of a purchased solution. While the custom banking system has been explored in other parts of the world, Sterling Bank is among the first African banks to implement the solution. So, is this move worth it for Sterling? Only time will tell whether Sterling Bank’s gamble will pay off. But one thing is for sure: they’re making a big bet on the future of Nigerian banking. Fincra secures International Money Transfer Operator (IMTO) licence in Nigeria Since its inception, Fincra has provided businesses with local payment options. However, with the IMTO licence, Fincra can now manage funds transfers from abroad to Nigerian recipients more efficiently. Read more here. Inflation Experts expect a tempered inflation rate in Nigeria Image Source: TechCabal In July, Nigeria’s inflation slowed for the first time in two years—33.4%—in almost two years. Nigeria Bureau of Statistics will release inflation figures for August today. Analysts are divided on their predictions. While some expect a slow in inflation, others expect higher interest rates, while others expect the inflation rate to be steady. Analysts from Stears and Norrenberger predict that the country’s inflation could slow for the second consecutive month, with predictions of 32.05% and 32.4% respectively. This thinking is rooted in the positive impact of the harvest season. Food prices which make up a bulk of the consumer price index eased in July. Some analysts expect this trend to continue in the new month. Given the recent surge in fuel costs, analysts are anticipating either a flat interest rate or a rate increase. Egypt, last month, recorded an increase in its inflation rate after it raised prices of fuel products by 15%. While analysts might be divided in their opinion about Nigeria’s August inflation rate, they all agree on one thing. The recent increase in fuel prices will significantly drive up the inflation rate in the coming months. Psst Here’s Paystack Developer Contributor of the month Microsoft Engineer Ekene Ashinze built the Angular Paystack Library, a module that helps developers accept payments in their Angular apps with Paystack. Discover his journey in creating the library and how it’s opened doors for him both
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Nigerian Blockchain Association SiBAN rocked by power tussle, expels president and executives
The leadership of Stakeholders in the Blockchain Technology Association of Nigeria (SiBAN) is locked in a tussle with current president Obinna Iwunno. SiBAN, an advocacy association recently appointed to implement Nigeria’s first blockchain policy, expelled Iwunno after a dispute over company registration. They also expelled Emeka Ezike, Rabiu Jibia, Dania Narudeen, and Mela Claude Ake, all association executives. On Wednesday, SiBAN’s board of trustees claimed Iwunno and the expelled executives named themselves “The Registered Trustees of SiBAN” in a recent company filing. The board of trustees described the registration as fraudulent because Iwunno and the executives he listed as trustees were suspended in May following allegations of financial mismanagement. In a petition seen by TechCabal, Ophie Rume, SiBAN’s former executive secretary, alleged Iwunno tried to withdraw SiBAN from the Blockchain Industry Coordinating Committee of Nigeria (BiCCON). “BiCCON was a younger organisation but they had strong connections in the crypto community in the North which SiBAN lacked, it made no sense to withdraw,” Ani told TechCabal. However, according to the petition by Rume, the then executive secretary, Iwunno applied for the exit of SiBAN without going through due internal process. “And rightfully, BiCCON rejected the application as it didn’t carry the requisite signatures from other executives,” Ani said. The former executive secretary also accused him of moving company funds into his accounts to make payments for expenses—a job reserved for the treasury and finance department. Rume claimed it allowed him to mismanage the money. Iwuno insists the allegations are unfounded. “[The CAC registration] was an act of treason,” said Toritseju Kaka, a founding member who returned to SiBAN after a two-year break, to head the caretaker committee that led the association during the investigation of the claims against Iwuno. “We had been asking him to register the association for a long time but he only found time to do it in the middle of an investigation against him,” Ani said. He claims it is a ploy to overturn the pending judgment from the investigation. Iwuno who has continued making public appearances as SiBAN president including a conference co-organised with Nigerian publication, Business Day, maintains that the board of trustees and caretaker committees are non-members trying to usurp his power. “I am taking appropriate legal actions against them,” he said. “The whole thing is a display of crypto godfatherism by illegal members of SiBAN,” Iwuno, who was elected as president in 2022, said on a call with TechCabal. “They want to remove me and install a puppet president.” He claims that the board of trustees was self-appointed and that their efforts to impeach him traced back to 2023. “They said they were the fathers of the industry and started asking me to report to them, something that no other president before me had done,” said Iwunno, who had previously been appointed Secretary to the previous president after he lost the presidential election. Ani who claims that the board has been recognised since 2019 refutes Iwunno’s suggestions that they are not legitimate members of the organisation. He said SiBAN was ideated in 2018 by Tony Emeka, the current chairman of the board of trustees, at a time when the crypto community was under a lot of pressure from the federal government. “We came up with the name, grew the community virtually and organised the first physical meeting [in July 2019.]” He also said that their donations alongside others funded the association in the early days and even now. “[Iwunno] didn’t join until 2020,” Ani said. “And right after he joined he began contesting for positions.” Even though Iwunno does not appear in the photograph taken of the first physical meeting of the association, then known as the Nigerian Blockchain Association, his LinkedIn profile says he joined SiBAN in November 2018. Iwunno claims he was with the association right from the start. “SiBAN was not created by one or two persons,” Iwunno insisted on a call with TechCabal. “There are no founders of SiBAN. It was created by people in several crypto WhatsApp groups.” At the moment, the board of trustees have revoked his administrative access to the association’s website, and virtual group on WhatsApp, and are currently trying to recover the database of email information of the SiBAN members which includes enthusiasts, professionals and blockchain companies. In an email to SiBAN members, Iwuno said that actions by the board of trustees and caretaker committee “have cast a shadow on the association.” If this tug-of-war is not settled amicably soon, it may mark the premature end of an advocacy group that has lent the loudest voice in the blockchain’s fight for legitimacy in Nigeria. Moonshot by TechCabal is gathering Africa’s most audacious builders and thinkers in Lagos, Nigeria. You can get tickets here.
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Rwanda names Mastercard Foundation director as education minister
President Paul Kagame has appointed Joseph Nsengimana minister of education, replacing Gaspard Twagirayezu who was reassigned to head the Rwanda Space Agency. Nsengimana was one of three new cabinet members named on Wednesday. Nelly Mukazayire was also appointed Permanent Secretary in the Ministry of Sports. Prior to joining government, Nsengimana was the Director at the Mastercard Foundation Centre for Innovative Teaching and Learning, based in Kigali. The Centre works with policymakers, developers, researchers and other EdTech stakeholders to support the integration of technology in education in Africa. He was the Executive Director of Global Diversity and Inclusion, Policy, Strategy and External Partnerships at Intel Corporation. He crafted and led the implementation of Intel’s Africa public policy and corporate affairs strategy. He also led the team responsible for government affairs, education, ICT and broadband policies in Sub-Saharan Africa. As education minister, Nsengimana is expected to drive Rwanda’s education agenda which the United Nation described as “the cornerstone of the nation’s development aspirations.” Nsengimana will leverage his experience in working closely with education ministers and other stakeholders in using technology to transform their education systems. Rwanda has a literacy rate of 71.4% and the highest net enrollment rate in Sub-Saharan Africa. Yet, its education sector faces challenges including low government spending, capacity gaps, infrastructure limitation and insufficient learning materials. Addressing these challenges would be a key priority for President Kagame who was sworn in for a fourth term in August 2024. Moonshot by TechCabal is gathering Africa’s most audacious builders and thinkers in Lagos, Nigeria. You can get tickets here.
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