Flutterwave partners with IndusInd Bank to expand its remittance product into India
Flutterwave, Africa’s most valued startup, has expanded into India to offer its remittance product after partnering with IndusInd, the 6th largest bank in India by assets. Flutterwave is expanding its remittance product, Send App, into India after partnering with IndusInd, an Indian bank with approximately 35 million customers. The partnership will allow Flutterwave, which is present in 30 African countries, to send money from the 5th largest economy in the world to the African continent. “The Indian expansion for Flutterwave will be the first African company to do this at scale where remittances from India to Africa become seamless and quick,” Olugbenga Agboola, the co-founder and CEO of Flutterwave, told Bloomberg. Agboola is currently in India with Nigeria’s tech minister, Bosun Tijani, and President Bola Tinubu ahead of the upcoming G20 summit. He added that the fintech will look for more partners to increase its presence in India. The fintech’s expansion into India comes weeks after Agboola announced that the startup would forge ahead with its IPO plans. Since June, the startup has onboarded several new international partners and widened its market base in anticipation of its IPO and this new partnership could serve as a boost to the Lagos-based startup’s plan to go public. In June, Flutterwave acquired a payment services license in Egypt and made Kigali its settlement hub in East Africa. In July, the fintech announced an integration with the International Air Transport Association’s (IATA) Financial Gateway (IFG) to enable Africans to pay their airline fees in their local currencies. Despite a Kenyan court freezing its accounts in June, the fintech secured name approval for its remittance business in August and is a few steps closer to acquiring a money remittance license from the Central Bank of Kenya.
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MultiChoice-backed solar startup Wetility raises $48 million to expand solar energy product
Wetility, a South African startup which offers solar energy solutions for households and businesses, has raised R903 million (~$48 million) in debt and equity. South African solar energy startup Wetility has raised R903 million (~$48 million) in a funding round comprising debt and equity. According to CEO Vincent Maposa, the funds will be used to accelerate expansion plans and grow its customer base. The current fundraising comprises R180 million in convertible debt as well as total debt, including a R600 million commercial debt package with landers including Sanlam and “large commercial and development banks”, according to reporting by TechCentral. MultiChoice led the startup’s first venture debt funding via its MultiChoice Accelerator Program which is part of the MultiChoice Innovation Fund in January 2022. The companies also currently have a marketing relationship which has seen Wetility leveraging SuperSport viewership to promote its product. Founded in 2019, Wetility’s flagship product is an all-encompassing digital solar energy management system that allows users to remotely manage power usage. Marketed as the “360 Wetility Experience”, the system comprises rooftop PV installation or solar panels. The solar panels power the system’s core comprising of a hybrid inverter, lithium-ion batteries and switchgear. PACE, as it is marketed, controls the energy flow to clients’ homes or businesses, managing load shedding and switching schedules. The information is then available on a dashboard referred to as “We-X” where users can remotely monitor the system and make subscription payments. “Our recent fundraising is a pivotal moment for Wetility. It’s a testament to the trust and confidence our customers, investors and commercial partners have in our vision. This capital infusion provides us with the means to accelerate our growth and make a substantial impact in the South Africa and power fintech space,” Johanna Hortz, chief of staff at Wetility, told TechCabal via email. Responding to a question from TechCabal on why the company raised the majority of the funding in debt, Hortz stated the capital-intensive nature of the sector and the significance of making hybrid solar affordable through subscriptions was a motivating factor. “To support these initiatives, having a strong balance sheet and maintaining good levels of gearing is essential,” she added. “While debt-to-equity ratios are important, they must be carefully managed to ensure financial stability while pursuing ambitious growth strategies in a capital-intensive sector like ours.” Wetility states that it aims to grow from a $1.5 million (~R29 million) business to a $142 million (~R2.7 billion) business by 2026. With the end to Eskom’s problems nowhere in sight and with new capital injection, it seems like the company might be on track to reach that milestone as South Africans seek alternatives to the faltering national grid. Have you got your tickets to TechCabal’s Moonshot Conference? Click here to do so now!
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A team of tech enthusiasts are betting on entrepreneurs from Northern Nigeria
THESCATHGROUP, a team of tech enthusiasts in Kaduna are providing tech entrepreneurs from Northern Nigeria with funding and advisory services to bring their ideas to life. Oluwajimi Akitunde is no stranger to growing a business. Fresh out of Ahmadu Bello University, he started to work on building a logistics business before he stopped due to a knowledge gap that affected their ability to scale. Six years later, he co-founded THESCATHGROUP(TSC) in Kaduna where he lives, a hybrid VC that is providing early-stage funding & advisory for tech entrepreneurs from northern Nigeria. While the tech community in Northern Nigeria has seen some growth since 2016, there are a lot of unique challenges that entrepreneurs from the region face in trying to scale, including a lack of infrastructure and investor bias. Unlike the tech scene in states like Lagos, which is now the face of the country’s thriving ecosystem, startups in northern Nigerian states are still struggling to convince investors that they exist. “Many investors are based in Lagos and are more likely to invest in startups based in the southern part of the country,” Surayyah Ahmad, an early-stage investor at TechTankLabs wrote. “This bias has made it difficult for startups in the North to secure funding, even if they have promising ideas and strong teams.” According to Akitunde, they have had cases where they reached out to investors or partners and as soon as they realised that TSC operates from Kaduna, they became hesitant. “Thriving tech hubs like Lagos that they’re enthusiastic about now, only exist because a group of people took the bet on them and we need to extend this to other places,” Akitunde shared. When asked why investors are hesitant to invest in the North, Akitunde shared that he believes it’s primarily an interest issue and investors are rarely interested in much that’s happening outside Lagos. He is however confident that the region has immense potential which is being overlooked. “Northern Nigeria holds two-thirds of the country’s population so there’s a lot of potential for talent and also as the target market. It does have its challenges but the only way to overcome them is to build through,” Akitude said to TechCabal over a call. TSC so far has provided ten founders in Northern Nigeria with some capital to kickstart operations. However, it is looking to raise funding to support even more and write larger cheque sizes of at least $50K to $100K for the average 7.5% they expect in return. Their portfolio businesses span across mobility, agritech, and fintech, and most of them are kicking off nicely. Akitunde shared that although their firm receives a lot of applications, funds are limited so they are only able to write cheques for a few. Image credit: TSC Beyond funding, the firm provides consultations and community for entrepreneurs, two things that are critical for early founders. Community is one of the reasons the northern ecosystem has grown to this level, but it does need a lot more. In 2016, Daser David and Hyginus Horson founded nHub in Jos, northern Nigeria’s first tech and innovation hub. Sanusi Ismail founded CoLab a year later. These two hubs provided thousands of young people in the north with the knowledge and community required to take their interests in technology seriously. More than 10,000 tech talents have gone through nHub and members of CoLab have gone ahead to develop into world-class talent working at global companies and building their own pan-African startups. While there are a number of investors in Northern Nigeria, they prefer to invest in traditional businesses as investing in early-stage tech startups is not as popular and consequently does not inspire enough trust. This is part of the work that TSC does. They have a hub in partnership with Afrilabs where they host monthly community events for people in and outside the ecosystem to meet, learn and network. “This has been useful in bringing people together to learn about the work that is being done and collaborate,” Akitunde shared. Have you got your tickets to TechCabal’s Moonshot Conference? Click here to do so now!
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What we know about Alex Okosi, Google’s managing director for Africa
Alex Okosi has been named Google’s Managing Director for Africa. The media and tech executive is now tasked with driving innovation and expanding digital accessibility for Google across the continent. On Tuesday, Nigerian born, Alex Okosi, was appointed as Google’s Managing Director for Africa, Google said in a statement. Okosi is set to lead Google in driving innovation and expanding digital accessibility across Africa. He will be responsible for spearheading Google’s operation in Africa including programs to help businesses and economies on the continent to grow. Okosi graduated magna cum laude with a dual major in Business Administration and Economics from St. Michael’s College in Vermont in 1988. Prior to joining Google, Okosi was managing director, Emerging Markets (EMEA), at YouTube where he led the successful roll-out of the YouTube Shorts feature and the YouTube Kids app in the EMEA markets. Okosi joined the Trade Marketing team at ViacomCBS in 1998. He would go on to lead the network’s entertainment business for Africa. In his role as executive vice president and managing director of ViacomCBS Africa, he led the BET International brand and ViacomCBS’s global events business. Okosi is credited with launching MTV’s first TV channel in Africa, MTV Base in 2005, and additional channel brands tailored for the African market including Comedy Central, Nickelodeon, NickToons and BET. Okosi created key campaigns on the continent including the MTV Africa Music Awards, MTV Shuga, MTV Base Meets, Nickelodeon Genius, Comedy Central Africa International Festival, NickFest, BET Experience Africa and the BET Awards Best International categories. With media and entertainment experience amassed across 3 continents over a 21-year span, the 47-year old has a broad background in Business Development, Corporate Strategy, Advertising Sales, Distribution, Digital Media, and General Management. Okosi was recognized as a Young Global Leader by the World Economic Forum in 2013. He was an All Africa Business Leader Award Finalist in 2018 and an honorary Fellow of the Nigerian Institute of Marketing of Nigeria (NIMN) in 2019. Okosi has also been featured as a thought-leader in key global media outlets including BBC, CNN and Forbes Last year, Okosi was selected for UK Powerlist—a list that celebrates the top 100 of the UK’s most influential people of African, African Caribbean and African American heritage across a range of industries for their incredible impact. Okosi was in the company of Apple’s Ije Nwokorie, Anne-Marie Imafidon; CEO & Co-Founder, STEMettes, Nneka Abulokwe; founder and CEO, MicroMax consulting amongst other influential people of African descent on the list. In his new role at Google, Okosi is set to continue his track record of success in Africa’s growing tech industry. In a recent LinkedIn post, Okosi expressed his dedication to tapping into the continent’s youthful talent and tech potential to drive a digital transformation. Have you got your tickets to TechCabal’s Moonshot Conference? Click here to do so now!
Read MoreMTN Nigeria picks American Towers to take over from IHS Towers amid boardroom fight
Amid a boardroom fight over its controlling power in IHS Towers, MTN Nigeria has said ATC Nigeria will take over its tower operations from IHS by 2025. MTN Nigeria has said its tower operations will be run by the Nigerian subsidiary of the American Towers Corp. (ATC) from 2025. ATC will be taking over from IHS Towers—whose lease to run MTN’s 2,500 network sites—will expire in 2024 and 2025. According to its filing on the Nigerian Exchange Ltd. (NGX) on Thursday, the company called for a tender for the tower contract. MTN said ATC was “selected as the preferred tower company for those sites based on its superior bid submission” after a review of the bids received for the tower contract. This development comes amid a boardroom fight between IHS Towers and MTN Group over MTN’s request for more control of the tower company. MTN Group holds 26% of IHS Towers but only controls 20% of the voting share. In 2022, MTN completed a deal with IHS to take over more than 5,700 of its tower sites in South Africa, per Bloomberg. MTN had said that it could not sell its non-voting shares and wanted its stake in the company to be reflected in its voting power. IHS said in response that the proposals were not in the company’s best interests. Wendels, the second-largest shareholder in IHS Towers after MTN, backed MTN’s bid. Other shareholders remained on the sidelines of IHS’s bout with MTN, Wendel, and Blackwells. This new agreement could seriously affect IHS Tower’s revenue. Nigeria is its biggest market by revenue and sales, much of which was from MTN. ATC is one of its biggest African competitors, alongside Eaton Towers and Helios Towers Africa. TechCabal reported that IHS Towers recorded a 9.4% decline compared to the first quarter of 2023. IHS says the decline in revenue, which put it $46 million below the last quarter’s revenue was due to the naira’s devaluation. MTN Nigeria also reported a foreign exchange loss in its 2023 second-quarter report, which dragged profits down by 64% for the period.
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Showmax battles Netflix and Amazon Prime Video for African viewers
This article was contributed to TechCabal by Conrad Onyango via bird story agency. The battle for streaming in Africa is turning into a three-horse race as key players ramp up investment in local content, tap top talent and enhance viewer experiences. Market data from Digital TV Research puts Netflix in the lead with a projected 7.4 million subscribers, followed by MultiChoice-owned Showmax with 4.4 million subscribers and Amazon Prime Video with 3.14 million viewers. By 2029, the research firm projects, Africa will add 10 million new subscribers. That will push Video on demand subscriptions to 18 million, highlighting the growing popularity of streaming services on the continent. “The subscription video on demand (SVOD) sector in anglophone Africa is evolving into a battle between Netflix and local player Showmax,” said Digital TV Research Principal Analyst, Simon Murray. While Netflix is nearly doubling its subscriber base, Showmax will be more than tripling from a low-base, indicating a faster growth, driven by rich local content and sports rights, as well as the introduction of NBCUniversal, Sony Pictures and HBO content. By the end of 2021, Netflix had an Africa subscriber base of 2.6 million. The streaming giant is seen adding 3.4 million from the end of 2023 while Showmax, which had 861,000 subscribers at the end of 2021, will add nearly 3 million more to its 2023 figures. However, the potential African market remains huge. “Despite this fast growth, SVOD penetration will remain low, with only 7.7% of TV households paying for at least one subscription by 2029,” according to Digital TV Research. Showmax’s parent company, MultiChoice Group, recently launched DStv stream, a revamped version of the DStv App that enhances the personal viewing experience for its huge subscriber base – particularly, sports fanatics. Among the new features is the ability of subscribers to change soundtracks for live sports commentary to local languages, based on the location of the viewer. Sports fans also have dedicated league and tournament pages. “From the initial launch of the first decoder to pioneering digital satellite TV and now with DStv Stream, what drives innovation for us, is providing our customers with the content they love, in the way that’s best for them,” said MultiChoice Kenya Head of Marketing, Ronald Baraka. After cutting down its monthly subscription plan fees for some countries in Africa, Netflix has also embarked on aggressive local content development to attract more subscribers. In financial year 2023, MultiChoice announced its local content accounted for 50% of general entertainment spend, surpassing its target and highlighting its aggressive local content drive. The group’s local content library boasts of over 76,000 hours, with an annual production rise of 9%. In July, it debuted ‘Supa Team 4’, the first original African animation series for kids to appear on the streaming platform. Netflix’s ‘made in Africa’ offering includes movies, dramas, animations, TV show , documentaries and originals, featuring actors mostly from Kenya, Nigeria and South Africa and exclusively targeting African audiences. Amazon Prime Video also has its eyes on boosting its library of local originals and acquisitions, after the streaming platform hired former MultiChoice Executive, Gideon Khobane. Khobane who has previously served as SuperSport International Chief Executive Officer and M-Net Director, was appointed Director of Prime Video Africa in July to oversee growth of the originals, acquisitions and product division. Currently, Amazon Prime Video is particularly active in South Africa and Nigeria. It recently premiered two local comedy and drama originals – Last One Laughing, with versions for Nigeria and South Africa, and Gangs Of Lagos. Local acquisitions include Brotherhood and King Of Thieves. Have you got your tickets to TechCabal’s Moonshot Conference? Click here to do so now!
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Ethiopia edges closer to adopting digital IDs
With a population of 120 million, Ethiopia has chosen a firm to produce new digital IDs, also known as Fayda. Ethiopia has taken steps towards adopting digital IDs after it picked Madras Security Printers Private Limited as its partner for printing the documents. The company presented a bid worth $300,000 and is set to produce 1 million digital IDs, also known as Fayda. The firm is set to produce pre-customised cards as part of the contract. These digital identity documents will include biometric information, which will authenticate Ethiopians to access various public services and verify their identity when opening new bank accounts. According to Biometric Update, another data storage contract for the digital ID system is being considered. Tech5’s biometric engine and digital ID issuance software were tested during the trial phase. This complies with a digital identity law requiring well-organised personal data to be accessible to relying parties and securely stored in a designated firm’s database. Background In 2022, the National Identity Program (NDIP) launched the enrollment process for the Fayda ID, which serves as Ethiopia’s foundational identification document for identity verification. The NDIP has registered a little over 1.4 million Ethiopians for the Fayda ID. The Kebele ID, primarily used to identify a person’s place of residence, is currently the most widely adopted type of identification, with ID4D estimating its popularity among adults to be between 90% and 95%. It is used alongside other functional identification documents, such as driver’s licences, and international passports, to verify one’s identity. Read more: Tanzania ignores digital IDs as East Africa pushes for wider adoption Ethiopia passes digital identity law In March 2023, Ethiopia, with a population of over 120 million, passed the Digital Identity Proclamation Bill into law. Ethiopia joins the growing list of African nations transitioning to a digital identification system, including Kenya and Uganda. Ethiopia’s digital ID legislation is set to help the country establish a robust system for citizen registration. The bill covers various crucial aspects, including registration procedures, authentication services, the institutional framework, data security, privacy protection, and legal consequences for breaches. This move will likely modernise Ethiopia’s ID system and is expected to promote inclusivity. No access to banking services without digital IDs The National Bank of Ethiopia, alongside the National Identity Program, announced plans to use the national digital ID, Fayda, for all transactions. In 2017, approximately 34.83% of Ethiopia’s adult population (under 24 million people) had bank accounts. The initiative will compel bank customers to use the Fayda ID for onboarding. The National Bank of Ethiopia, the nation’s central bank, reiterated this plan to use Fayda as the primary ID for banking operations. Kenya to launch digital IDs this month Kenya is also set to adopt a digital identity for its citizens. Some details have been revealed about its upcoming digital ID system. For instance, the launch set to go live this month will use the unique personal identifiers (UPI) system that includes advanced security features such as iris and facial biometrics and fingerprint identification, similar to the existing identity documents. The new IDs will replace the failed Huduma Namba launched by the previous administration in 2018. Have you got your tickets to TechCabal’s Moonshot Conference? Click here to do so now!
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Steps to easily calculate your 2024 UNISA fees online
As education costs continue to rise across universities in Africa, it’s essential for students to have a clear understanding of their financial obligations. For students or potential students of the University of South Africa (UNISA), calculating fees can be a crucial aspect of their academic journey. Fortunately, UNISA provides an easy-to-use online tool to help students determine their fees. In this article, we’ll guide you through the process of calculating UNISA fees online in a simple and straightforward manner. 1. Go to the UNISA website Start by opening your preferred web browser and navigating to the official UNISA website. Ensure that you are using a secure and updated browser to protect your personal information. 2. Log in if you’re registered If you’re already a UNISA student, log in to your student portal using your username and password. If you’re not registered, move on to the next step. 3. Navigate to the “my UNISA study fees quotation” tab On the MyUNISA website, look for the “my UNISA study fees quotation” section. You’ll find it here. Click on it to proceed. 4. Select the academic year and qualification Choose the academic year for which you want to calculate fees. You’ll also need to specify your qualification level, such as undergraduate, postgraduate, or diploma. 5. Enter your modules Now, select the specific modules or courses you plan to enrol in for the selected academic year. This is a crucial step, as different modules have different fees. On average, a student enrols in 4 to 6 courses annually, with each course costing between R1,815.00 and R7,550.00 (please note that these amounts may be revised). 6. Calculate your UNISA fees After selecting your modules, the system will calculate your fees based on your choices. You’ll see a breakdown of tuition fees, exam fees, and other charges related to your selected modules. 7. Review your fees Take a moment to review the calculated fees. Ensure that all the information is accurate, including your chosen modules and qualification. Final thoughts on calculating UNISA fees Calculating UNISA fees online is an easy process that can help you plan your academic finances effectively. By following these steps, you can ensure that you have a clear understanding of your financial inclinations while pursuing your education at UNISA. Remember to check the UNISA website for any updates or changes to the fee calculation process, as procedures may evolve over time.
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👨🏿🚀TechCabal Daily-Sama strikes out in AI
In partnership with Share this newsletter: Lire en Français اقرأ هذا باللغة العربية Happy Friday! Social media influencers have mastered turning attention and credibility to currency. Here’s how to become Twitter famous in two months. In today’s edition Sama to hire 2,100 Kenyans for AI work Nestcoin raises $1.9 million Kenya considers digital sandboxes Google requires AI disclosure in political ads The World Wide Web3 Event: The Moonshot Conference Opportunities AI Sama to hire 2,100 Kenyans for AI work Image source: TechCabal New business, new hires. Sama, a startup that trains data for AI algorithms, will employ 2,100 Kenyans in the next two weeks, according to Kenya’s trade cabinet secretary, Moses Kuria. The first batch of 600 employees has already started working, while an additional 1,500 will be hired in the following weeks. This will increase Sama’s headcount from 3,400 to 5,500, with a leadership team that is entirely Kenyan. The new hires will work in Sama’s computer vision artificial intelligence (AI) arm and will be tasked with labelling images and videos for machine learning algorithms. ICYMI: Sama was formerly involved in content moderation services for Meta in Kenya. The company discontinued it to focus on computer vision AI work in March after it fired 184 content moderators, who have since sued the company for unfair dismissal. However, the company added that it left that line of business as a strategic business decision and not in relation to the ongoing case. Zoom out: Sama’s new move signifies a promising future for AI development in Kenya, with the potential to influence the global AI landscape. Get a working card from Moniepoint With the Moniepoint personal banking app, you get reliable payments every time and a card that always works. Enjoy seamless payments powered by the infrastructure that 1.5 million businesses trust. Download the app. Funding Nestcoin raises $1.9 million Image source: TechCabal Nigerian web3 startup, Nestcoin, has raised $1.9 million in a strategic round. The startup will use the funds to support the growth of its Onboard product. This round of funding was led by Hashed Emergent. Alter Global, Magic Fund, CMT Digital, and 4DX Ventures are among the existing investors that took part. Adaverse and Base Ecosystem Fund also participated in this round. ICYMI: Nestcoin, which was launched in 2021 to build, invest, and operate web3 and non-custodial products for customers lost a significant portion of its $6.45 million pre-seed investment in the FTX collapse last year. The startup laid off some employees as a result of this. The company recently announced that it had pivoted to Onboard, a secure self-custody wallet for managing digital assets with no middlemen. Before this pivot, Nestcoin was home to a number of web3/crypto products Breach, a media platform; Brunch, a cryptocurrency-based group messaging tool; and Metaverse Magma (MVM), a gaming DAO. MVM operates independently after being spun off. Nestcoin also invested in over 13 African crypto and Web3 products including the now-defunct Lazerpay. Policy Kenya considers digital sandboxes Image source: TechCabal Kenya’s Communications Authority (CA) is addressing the regulatory challenges of emerging technologies. How? The CA has suggested establishing regulatory sandboxes to oversee new technologies like digital currencies. A regulatory sandbox is used to assess technological services under supervision before they are fully integrated into the regulatory framework to ensure compliance and assess potential risks. This new suggestion comes as WorldCoin, owned by Tools for Humanity, recently faced scrutiny for collecting sensitive biometric information from Kenyan citizens in exchange for a token worth Ksh7,000 ($50). This has raised concerns about data privacy and compliance with existing laws. Initially registered as a data processor in Kenya, WorldCoin’s activities were called into question when it became apparent that their license did not grant authority to collect personal data. What now? WorldCoin has since halted its activities in Kenya, leaving questions about the fate of the collected biometric data. Unlock new opportunities for your business Unlock new opportunities for your business with Vesicash! Seamlessly expand into emerging markets using our secure, all-in-one and cost-effective payment infrastructure. Contact Vesicash via our website www.vesicash.com or reach out to our dedicated team at info@vesicash.com AI Google requires AI disclosure in political ads Image source: Giphy Google is updating its political content policy to include a new mandate. The search giant announced on Wednesday that all verified election advertisers are to tell people if their ads use artificial intelligence (AI) in campaign content. The requirements: Starting mid-November, election advertisers must tell people if their ads use artificial intelligence (AI) to create images, videos, or audio that look real. This disclosure must be clear and obvious, and it must be placed where people are likely to see it. This policy will apply to all ads that are created or manipulated using AI, including ads that appear on Google’s search engine, YouTube, and other platforms. However, ads that use AI to create images, videos, or audio that are not important to the claims made in the ad do not have to disclose that they use AI. This includes editing techniques such as image resizing, cropping, colour or brightening corrections, defect correction and background edits that do not create realistic depictions of actual events. Zoom out: Google’s interest in developing AI policies has expanded to its other platforms, including YouTube, which recently unveiled its guiding principles for AI collaboration with the music industry.” Crypto Tracker The World Wide Web3 Source: Coin Name Current Value Day Month Bitcoin $25,866 + 0.74% – 10.98% Ether $1,635 + 0.25% – 10.14% BNB $215 – 0.06% – 10.92% Cardano $0.25 + 0.06% – 11.71% * Data as of 21:22 PM WAT, September 7, 2023. Elevate your business with One Liquidity’s seamless integration. Choose from 10+ services to craft a custom solution. Join Obiex, Wewire, and others in providing trading, liquidity & compliance services. Start now with zero upfront fees. One integration. One solution. One Liquidity. Events The Moonshot Conference Early bird tickets are still selling out fast for Moonshot by TechCabal! If you’re an international fan
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A Nigerian influencer’s guide to becoming Twitter famous in two months
The demand for influencers in the marketing industry has steadily increased, driving a lot more people into building a career in influencing. On social media, attention is currency. In 2018, when Edmund Oris, a medical student, tweeted about football that went viral, he quickly realized that the kind of outsized attention he got was monetizable. “I’ve tweeted daily since then, and Twitter is now my full-time job,” Oris told TechCabal. In the five years since his tweet first went viral, Oris has worked with Coca-Cola, Guinness and even Tiwa Savage; he also has 69,000 followers, significantly improving from the 2,000 followers he had in 2018. What’s often missing in “how-to stories” is how much rigour is needed. Oris says that being an influencer requires more planning than most people believe; every influencer must find their niche, that small area of focus where they can show expertise and build a loyal band of listeners. Such loyalty means influencers can recommend brands or products to their audience within their niche and encourage buying decisions. Per Twitter’s marketing team, about 49% of users rely on recommendations from influencers on the platform. In the third quarter of 2022, Jumia spent $57.4 million on marketing; 60-70% was on influencer marketing. But influencers aren’t the only players in the value chain. Big companies work directly with agencies to manage the influencer marketing process, which involves contacting and negotiating with influencers. Influencers’ fees vary depending on their impressions, followers, and negotiating skills. According to Oris, negotiation skills are the most critical tool for influencers. “Sometimes you can earn even more than another influencer with more followers if you know how to sell your brand. If you don’t, you’ll likely be shortchanged by the agencies,” he shared over a call with TechCabal. Twitter influencers typically earn less than influencers on other platforms as they mainly tweet or repost already-designed content, unlike Instagram or TikTok, where influencers have to create this content from scratch—often shooting videos or taking product photos. While the global average cost of an influencer tweet is about $1,643 for a mid-tier influencer (50K-200k followers), the amount for Nigerian influencers is much less. In Nigeria, mid-tier influencers typically get offered about ₦50,000 ($66) for a tweet. This amount can go up as high as ₦500,000 ($656) for global brands. Average cost of post per platform. Image credit: IZEA Brand promotion is not the only way to make money as a Twitter influencer. Having an audience means that you can convert them to podcast listeners, YouTube viewers, or even people who buy your course, like Oris. He uses Twitter to promote his courses and e-books targeted at new influencers. His course, How to Grow Like a GOAT, promises one million impressions in 30 days. It costs ₦50,000 ($66), and he’s sold over 300 copies. Community is critical for visibility on Twitter. The platform revolves around conversations and the most important trick for aspiring influencers is to be plugged into the right ones. According to Oris, The route to your first one million impressions is engaging in relevant conversations within your niche community. Create a list with about 100 influencers in your niche and engage with them constantly. Constant engagement increases your visibility and depending on the value of replies you leave, can translate into followers,” Oris said. Beyond helping you gain visibility, constantly engaging with people doing well in your niche gives you a blueprint for the content that performs well. 53% of Twitter users prefer relevant and informative content, compared to 24% who want trendy content. There’s a science to content on various platforms, and just as reels have become critical to growth on Instagram, informative content keeps Twitter going. Users who share knowledge and information or opinions that spark conversation do better on the app. Building a following on Twitter requires some degree of luck and a lot of experimenting. According to Victoria Gwaza, a Twitter influencer, one helpful tool for influencers is to be willing to experiment with different platforms and types of content. Many factors affect how well your tweets do, including the time posted, the day posted, and other conversations happening on the timeline. Sometimes, your message works better with images or videos attached. Other times, texts alone work best. “If you’ve tried everything and it doesn’t work, maybe consider another platform. Twitter is not the only place to be an influencer,” she said. While Oris has over 60K followers on Twitter, he has less than 1K followers on Instagram. He shared that he hasn’t been able to grow much of an audience there as it requires a lot of photos and videos, which are just not his forte. Have you got your tickets to TechCabal’s Moonshot Conference? Click here to do so now!
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