Check KCSE results online 2023
The Kenya Certificate of Secondary Education (KCSE) is a significant examination for high school students in Kenya. With the advancement in technology, checking KCSE results online has become a convenient and efficient method. In this article, we will provide you with a comprehensive step-by-step guide on how to check KCSE results online. 1. First step to check your KCSE result is to visit the official KNEC website Open a web browser on your computer or mobile device and visit the official website of the Kenya National Examinations Council (KNEC). The website can be accessed at www.knec.ac.ke. Make sure you have a stable internet connection to avoid any interruptions during the process. 2. Navigate to the results portal Once you have accessed the KNEC website, the next step to check your KCSE result is to navigate to the results portal. Look for a tab or link that specifically mentions “Results” or “KCSE Results.” Click on the respective tab or link to proceed to the next step. 3. Enter your examination details to check your KCSE results On the results portal, you will be required to provide specific examination details to access your KCSE results. These details typically include your KCSE index number, examination year, and any other required information. Ensure that you input the correct information to avoid any errors or delays in retrieving your results. 4. Captcha verification As an added security measure, the KNEC website may require you to complete a captcha verification process. Captcha verification helps ensure that the results are accessed by genuine individuals and not automated bots. Follow the instructions provided and enter the characters shown in the captcha image accurately. 5. Submit and check your KCSE results After successfully completing the captcha verification, click on the “Submit” or “View Results” button. The website will then process your request and display your KCSE results on the screen. Take note of your grades, marks, and any other relevant information provided. 6. Print or download your results To retain a physical or digital copy of your KCSE results, you have the option to either print the results directly from the website or download them as a PDF document. Click on the appropriate button or link provided on the results page to proceed with the desired action. Ensure you have a working printer or sufficient storage space on your device for the download. That’s it about how to check your KCSE 2023 results online. Final thoughts on how to check your KCSe results online 2023 You need not go through any stress to check your KCSE results online in 2023. It is a smooth process that saves time and provides instant access to your academic achievements. By following this step-by-step guide, you can easily navigate the KNEC website and retrieve your results efficiently, empowering you to plan your future educational endeavours accordingly. You can also check and download the KCSE timetable here.
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Chinese hackers attack Kenyan government
Lire en français Read this email in French. Editor’s Note Week 21, 2023 Read time: 5 minutes This week brings a mix of delightful firsts and bad news. Read on to learn about Kenya’s first electric bus charging station, and unfortunate incidents like breaches, licence losses, and more. Pamela Tetteh Editor, TechCabal. Editor’s Picks Chinese hackers attack Kenya In a wok of digital mischief, Chinese hackers took aim at Kenyan government institutions from 2019 to last year. Their cunning plan? To access to billions of dollars in debt owed to Beijing. Learn more. Patricia loses crypto assets in breach Digital asset marketplace Patricia has reported a compromise of its crypto assets. They’re putting their detective hats on and claim to have unmasked one of the naughty culprits. Learn more. Eyowo’s challenging year The digital bank Eyowo, has endured a stormy year. While preparing for a mini-pivot, it has owed salaries and this week, its MFB licence was revoked. Learn more. Kenya warns against Wangiri scams The Communications Authority of Kenya has warned Kenyans not to return calls from any strange international numbers as they may lose money in the popular Wangiri scam. Learn more. Kenya gets first electric bus charging station BasiGo Company has established the Kenya’s first bus charging station! Now, Kenyans can plug in and zap away those carbon emissions. Learn more. Central Bank of Nigeria revokes 179 licences On Tuesday, the Central Bank of Nigeria (CBN) decided to clean house and sweep away all those financial cobwebs. It revoked licences of 179 microfinance banks (MFBs) and fintech. Learn more. Nigeria’s ICT minister moves to change the startup act In a much criticised move, Nigeria’s minister of communications and digital economy, Isa Pantami, is trying to institute a new board to drive the Nigerian Startup Act (NSA). Learn more. Entering Tech Interested in getting tech career resources and insights?. Then sign up for Entering Tech to get started! Kenya’s $40 smartphone may cost more President Ruto’s push for sky-high taxes may turn Kenya’s eagerly anticipated pocket-friendly locally assembled $40 smartphone into a distant dream. Learn more. Bolt opens first Kenya office for drivers Bolt sprints into Kenya with a new office, but don’t mix it up with their fancy Nairobi hub. That one’s reserved for high-level managers overseeing operations across Africa. The news one is for handling drivers’ concerns. Learn more. China’s Tesla is coming to SA Chinese automotive company, Build Your Dreams (BYD), also known as “China’s Tesla”, will be launching its compact electric crossover—the BYD Atto 3—in South Africa soon. Learn more. Vodafone to sell MPHCL for $1 Kenya’s Safaricom is shouldering extra duties, as Vodafone has declared that it will hand over M-Pesa Holding Company Limited (MPHCL) to Safaricom for just a dollar. Read more. Who brought the money this week? South African edutech company, Play Sense, raised an undisclosed amount in pre-seed funding from Grindstone Ventures. Kunda Kids, a Nigerian media publishing company and creative studio, raised $700k in the pre-seed funding round. Egypt-based health-tech company Dawi Clinics closed $8 million in an undisclosed funding round. South African digital banking platform, Tymebank, raised $77.8 million in a pre-series C funding round. What else to read this weekend? Food delivery in Lagos is an invitation to anger. TurnTable is filling a void in the Nigerian music scene. Jumia’s Q1 2023 report shows path to profitabliity. WiSolar wants to alleviate South Africa’s power troubles Share TC Weekender Written by: Ngozi Chukwu & Hannatu Asheolge Edited by: Pamela Tetteh 18, Nnobi Street, Surulere, Lagos, Nigeria Unsubscribe from TC Weekender
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Are digital era celebrities and influencers covertly aiding criminal enterprises?
In recent years, the Nigerian digital space has witnessed a significant surge in scams that has led to the loss of billions of Naira to fraudsters. These scams range from ponzi schemes to investment fraud, to faux crypto trade, and many more. According to a recent report by The Guardian, Nigerians have lost almost a trillion naira to Ponzi schemes in the last 23 years. Some of the more notorious fraud schemes in recent Nigerian history include MMM, EatRich, TonsoElite, 360Hub, Cryptosilv, Racsterli, Chinmak, and so on. These elaborate schemes have robbed millions of Nigerians of their hard-earned money. The success of some of these scams can be attributed in part to influencers and celebrities lending them legitimacy at the start of their operations. It is almost common practice now for businesses to contract influencers to endorse their products and services and attract customers. But what happens when things turn sour and the business is revealed to be less than legitimate? In many cases, the influencers/celebrities, whose popularity lent credence to these businesses, simply disassociate their brand from the scams and move on, leaving their followers to their fate. This begs the question: how culpable are influencers and celebrities for losses incurred by their followers to brands they endorse? The case of Zzapo Mobile illustrates this situation. In 2019, an unknown brand, Zzapo Mobile swept into the smartphone industry, disrupting the space with ridiculously low prices and endorsements from selected influencers and celebrities. Despite a promising start, Zzapo Mobile would go on to swindle thousands of Nigerians of millions of naira in a case that never quite received attention. Zzapo’s launch seemed well-timed to coincide with the rise in costs of Android phones with sophisticated features. As a consequence, people were on the lookout for more affordable alternatives. Enter Zzapo, with an affordable and feature-rich smartphone. The specifications of the Zzapo mobile looked incredible and, for that year, seemed worth the go, despite it not being a well known brand like Tecno, Itel or Infinix. It promised 4GB RAM, 64 GB ROM, and many more amazing features. The best part was the unbelievable entry price of the phone: ₦7,999 naira (about $16). Tagged as an introductory offer, the ₦7,999 price was only available for preorders, and buyers would have to wait 21 days to receive their orders after payment. The introductory offer price was slated to last till December 6, 2019, after which it would return to a “promo price” of ₦45,000 till December 31, 2019, and then return to its “original price” of ₦108,000 in January. Perhaps this erratic pricing model was the first sign that all was not as it seemed at Zzapo Mobile. Zzapo Mobile also enlisted popular skit maker, Broda Shaggi, and tech enthusiast and current CEO of Azapay, Jackye Madu to endorse the phone. The former made a skit to validate the authenticity of the phone, while the latter was physically present at an unveiling event. Journalists jostling to interview Jackye Madu Zzapo mobile team alongside Jakye Madu at the launch The company also enlisted Otumbadi Chikodi, a digital marketer known as @hrmqueenluciana on Instagram, to review the smartphone on her page. Due to a spike in orders, presumably as a result of the influencer endorsements, Zzapo extended the preorder date to December 11, claiming it was to allow those who had experienced difficulty in placing their orders before the initial deadline also enjoy the preorder price. However, Zzapo Mobile did not end the sale until December 13. Introductory offer price halt on the 13th of December, 2019 After the end of sale announcement, the Zzapo social media pages went quiet. After five days, they returned to announce an abrupt end to the sales price of ₦45,000, originally slated to last till the following year. Things only went downhill from there. As the days passed, complaints of no tracking numbers or order confirmations flooded Zzapo’s social media pages. The only evidence of purchase buyers had was the automated email from Paystack, Zzapo’s payment gateway. Visits to Zzapo’s physical outlet revealed a small, relatively empty space with no gadgets or phones on sale. On December 23, the proposed delivery date for the pre-ordered Zzapo phones, the brand announced that they were still processing orders, and asked for patience, advising those who could not wait to request refunds. That was the last Nigerians would see and hear of Zzapo Mobile. For many who patronised Zzapo Mobile, refunds were difficult, and in some cases, impossible to get. Those who involved law enforcement recovered part of their money, while reportedly forfeiting the rest to the police. A victim who was lucky enough to get part of their money back through the help of the police Others tried chargebacks to Paystack, and while some had their money refunded, majority were unable to, as Paystack had already processed their payments to Zzapo. One of the victims posting their response from Paystack We spoke to a victim, “Ola”, who ordered two phones at the introductory offer price of ₦7,999. Describing his experience with Zzapo Mobile, Ola said, “I came across the Zzapo phone on Broda Shaggi’s timeline on Instagram and for his calibre of person, I had no reason to doubt the legitimacy of the product and company. So I ordered for two. Only for everything to turn out to be false. What pained me most was that Broda Shaggi didn’t address the issue. In fact, I think he blocked me and my friend on Instagram alongside other people who were dragging him to say something about it. That was how I lost 15k plus at that time. It really pained me because I really needed a phone then.” Ola also shared the receipts of his purchase and his unsuccessful attempt to get a refund from Paystack. See images below: Ola’s 1st receipt for one of his Zzapo mobile phone orders Ola’s 2nd receipt for one of his Zzapo mobile phone orders Ola’s request for refund Paystack’s response to Ola’s refund
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How to apply for the MTN Scholarships 2023
The MTN scholarship program is a prestigious opportunity for students seeking financial aid to pursue their education. With its commitment to supporting academic excellence, MTN Foundation offers scholarships to deserving students across various fields of study relating to science and technology. This article provides a comprehensive guide on how to apply for the MTN Scholarship types 2023. The MTN scholarship types you can apply for There are two main academic scholarships available from MTN that you can apply for. They are as follows: Apply for the MTN Science and Technology Scholarship This is the flagship program that has been running in Nigerian public tertiary institutions (universities, polytechnics, and colleges of education) since 2010 and is aimed at 300-level students pursuing Science and Technology-related fields. If they keep up their good grades, 300 students will get annual scholarships of N200,000.00 till they graduate. Apply for the MTN Scholarship for blind students The program began in 2012 for visually impaired students in 200 and 300-level programs and enrolled in Nigerian public universities, polytechnics, and colleges of education. Sixty high-achieving visually impaired students will each get a ₦200,000.00 scholarship each year until they graduate, provided they maintain the necessary GPA. Steps to take when applying for the MTN scholarships 2023 Eligibility criteria to apply for any of the MTN scholarship types Before you apply for the MTN Scholarship types, it is crucial to research and understand the eligibility criteria. Typically, the scholarship is available to undergraduate students in accredited Nigerian higher institutions. Ensure that you meet the minimum requirements such as age, educational background, and CGPA (Cumulative Grade Point Average). Review the specific criteria outlined by the MTN Foundation to ascertain your eligibility. Eligibility and criteria to apply for the MTN scholarship types are as follows: 1. Institution of study Students enrolled in a Nigerian public tertiary institution (university, polytechnic, or college of education) are eligible to apply for the MTN Science and Technology Scholarship (STS) or the MTN Scholarship for Blind Students (SBS). 2. Course of study The MTN Science and Technology Scholarship (STS) is available to undergraduates in Nigerian public universities, polytechnics, and colleges of education who are majoring in a science or technology-related field. Visually impaired students in their second and third years of study at one of Nigeria’s public universities, polytechnics, or colleges of education are eligible to apply for the MTN Scholarship for Blind Students (SBS). 3. Level of study MTN recognises that the academic calendar is not standardized across all public tertiary institutions, so the MTN Science and Technology Scholarship (STS) application is open to students who have completed their second semester 200 level examinations and are going to 300 level, as well as students who are currently enrolled in 300 level. The MTN Scholarship for Blind Students (SBS) is available to blind students enrolled in the second and third years of study at any of Nigeria’s public universities, polytechnics, or colleges of education. However, for law students whose program is a five-year one, the MTN Scholarship is only open to students in their third year of the legal discipline. 4. Cumulative Grade Point Average (CGPA) MTN Science and Technology Scholarship Students majoring in Science, Technology, Engineering, or Mathematics at a public university or college of education are eligible to apply for the MTN Science and Technology Scholarship (STS) if they maintain a cumulative grade point average (CGPA) of 3.4 (Over a grade point of 4.0) or 3.5 (second class upper). Students in STEM fields who wish to enrol in the Higher National Diploma (HND) program at public polytechnics must have earned a CGPA of 3.0 or higher in the OND program. Direct Entry students looking to enter the third year of study in a STEM field at the university level are expected to a CGPA of at least 3.0 (upper credit) in the relevant subject area from the Ordinary National Diploma (OND) program. MTN Scholarship for Blind Students (SBS) Students who are visually impaired and are enrolled in a higher education institution must maintain a 2.5 or higher in their cumulative grade point average (CGPA). Students who are blind and wish to tap into the MTN scholarship program at a public polytechnic must have completed the OND program with a minimum CGPA of 2.0 and have been accepted into the HND program. Gather the required documents To complete the application process smoothly, gather all the necessary documents. These may include your recent passport photograph, valid identification card, admission letter, academic transcripts, and a letter of recommendation from a reputable academic referee. And a concise biography of yourself and why you think you deserve the scholarship. Ensure all documents are well-organised, up-to-date, and meet the specified requirements. Visit the MTN Foundation Scholarship portal Access the MTN Foundation Scholarship portal through the official website at https://apps.mtn.ng/scholarships/. Fill in the 7-step required information accurately, including your personal details, contact information, and academic background. Be careful to provide correct and verifiable information to avoid any disqualification. See the 7 steps in the images below: Complete the application form Once you’re confirmed through that first stage into the portal, you’ll see the scholarship application form. Carefully fill in the required details, ensuring accuracy and completeness. Provide concise and well-articulated responses to essay questions or personal statements, showcasing your achievements, aspirations, and the impact you intend to make with the scholarship. Double-check all the information before submitting the form. Some questions you’ll meet on the application form are captured in the following images: 5. Review and submit Before finalizing your application, review all the provided information and attached documents. Make any necessary edits or corrections. Once you are satisfied with the accuracy of your application, submit it through the portal. Final thoughts on how to apply for MTN scholarship 2023 Applying for the MTN Scholarship involves careful attention to detail, document preparation, and completion of the online application form. For the year 2023, the application portal for the MTN Scholarship closes on the 18th of June. So apply as soon as
Read MorePatricia identifies one culprit of security breach in which customer funds were stolen
Digital asset marketplace Patricia has reported losing bitcoin and naira assets in a breach. Patricia says that in the ongoing investigations, it has found one of the culprits and is still trying to recover the lost funds. Cryptocurrency marketplace Patricia recently announced that its retail trading application, Patricia Personal, had been breached. The company stated that only its bitcoin and naira assets had been compromised, while other crypto assets remain unaffected. The startup also assured its customers and merchants that their assets were secure and measures were being taken to recover the compromised assets. The company announced that it has identified one of the culprits and temporarily suspended withdrawals on its mobile and web apps to get a handle on the situation. In the email to its users, Patricia hinted that it may have become a target for hackers due to its increased popularity as a bitcoin exchange platform. The company, which was founded five years ago after Hans Fejiro lost his gift card to fraudsters, initially started as a gift card exchange platform. Currently, the company reportedly handles 30,000 daily transactions and serves 850,000 users. Acknowledging the risks associated with public recognition, the company stated in the email, “We have quickly become a household name, receiving prestigious awards worldwide. And that comes with a fair share of risks.” The startup clarified that out of its three arms—Patricia Personal, Patricia OTC Desk, and Patricia Business—only Patricia Personal, the retail trading application, was affected by the breach. However, the company decided to temporarily suspend withdrawals on the app itself due to ongoing internal restructuring. While not disclosing specific details about the breach suffered by the platform, the company mentioned in the email that it has identified an individual within the syndicated group responsible for the breach. It expressed its commitment to pursuing this lead and collaborating with security agencies and other partners to conduct a thorough audit of the situation and recover the assets. As of now, TechCabal has not been able to confirm the exact value of the lost assets, which culprit Patricia has identified or how much the company has been able to recover.
Read MoreSalary delays, frustrated users and licence revocation: A picture of Eyowo’s stormy year
Eyowo, one of Nigeria’s digital banks, has had a challenging year. While it has ambitious plans for the future, it has to deal with cashflow challenges, frustrated users and a revoked Microfinance Bank licence. On Wednesday, Nigeria’s Central Bank revoked the operating licence of 47 microfinance banks. One of the licences revoked was Eyowo Microfinance Bank, which the digital bank, Eyowo, controls. According to the CBN, the revoked licences were either inactive, insolvent, failed to render returns, closed shop, or ceased to carry on the type of banking business for which they were licensed for more than six (6) months. While it remains unclear the specific reason Eyowo’s licence was revoked, the company’s CEO, Omoseinde Olobayo, told TechCabal that it is still “engaging the CBN to understand and resolve the issues.” This week’s licence revocation caps a truly stormy year for the digital bank. Following CBN’s announcement, Eyowo—owned by Softcom—said that interbank transfers, which its Microfinance bank powered, would be on hold. It told customers via email, “Over the next few hours, you will experience challenges sending and receiving money with Eyowo. This may take up to 24-72 hours to completely resolve, we will keep you abreast of the progress made and the next steps.” Eyowo’s timeline will expire on Saturday, May 27. In the interim, customers remain cautiously optimistic. An Eyowo customer, Jethro Will, told TechCabal, “I basically don’t have access to my hard-earned money. My friends use Eyowo as their main banking app; now we are all praying.” *Tunde, who uses Eyowo account for business, told TechCabal, “I didn’t know they had an issue until someone tried to send me money on my business account and said it failed.” But TechCabal understands these transfer delays started a few weeks before the digital bank’s MFB licence was revoked. CBN licence clampdown: Your money is safe, Eyowo tells customers Eyowo’s product struggles Weeks before Eyowo’s licence was revoked, users of the digital bank already began experiencing delayed and failed transfers. The company did not share the reason for those failures. And on May 19, Eyowo’s CEO, Omoseinde, shared in a video posted on an update on Twitter that it would no longer allow new users to register on the app until July 1. Omoseinde acknowledged some of the issues users had experienced on the app and said that the pause on new registrations was to fix those issues. A source close to the situation told TechCabal that Eyowo had been revamping its app in the last few months. Continued… pic.twitter.com/WW4KY3K6gp — Eyowo (@eyowo) May 19, 2023 In April, Omoseinde told TechCabal exclusively that Eyowo was experimenting with some features. He said, “One important thing for us is that we’ve been asking ourselves questions about how you enable financial growth. For example, how do you deliver value to businesses? This seems to be where the value lies for us as a company.” At the end of the experiment, Eyowo’s CEO said that it aimed to connect entrepreneurs who sell products to a large market of customers. Essentially, Eyowo was looking to connect the business owners it served to its customers. It sounded like a later version of GT Bank’s Habari, an app that lets users find music, shop, and do their banking transactions. From the conversation with the company’s leadership, Eyowo was betting that the company’s future was a similar social commerce play. But first, it would have to motivate hundreds of employees to keep working on the product despite several salary delays. An unexpected sacrifice for a promising product After several unconfirmed reports, Eyowo confirmed in April that it was owing staff salaries but did not confirm how many months it was owing. It was not the first time the company would owe salaries. One report in December 2022 claimed Softcom, Eyowo’s parent company, laid off 20 people and that staff hadn’t been paid their November salaries. Yomi Adedeji, Eyowo’s Co-CEO, told TechCabal that the missed payments were “unexpected sacrifices” for “a promising product” that the company was on the precipice of launching. He said the product research and validation took longer than expected, leading to the company spending more than anticipated on the research. “Using the revenue we had accrued as a [bootstrapped] company over the past years, we were doing experiments and research for a new [e-commerce] product. In the middle of that, COVID hit. It’s been quite some sacrifice for everyone, including the workforce and those who have served us as partners or another business,” Yomi said. “About 150 people have gone through this moment of sacrifice with this mindset. It is possibly just 5% or 10% who may feel frustrated.” Yomi admits, however, that there may have been some communication gaps along the line. “When there is uncertainty, you can only inform people as you get clarity. When you are dealing with a company of about 180 people, information may take 3rd-party interpretations that may not have come from the company itself.” The company confirmed in April that it has come to the end of its experiment and is happy with the outcomes. At the moment, the company was going through what he calls “recapitalization” to make sure that it has all the financial resources that it needs to succeed long term. But Eyowo is not yet out of the woods. One source told TechCabal that employees have now been paid half of what they were owed. While it continues engaging the Central Bank in the hopes that its licence revocation will be overturned, there are many other existential questions that Eyowo has to answer if it will realise its ambitions to provide value to businesses by connecting them to a large market.
Read MoreSA SME Fund has closed R600 million of a R1 billion VC fund. Here is how it will be deployed
A conversation with Ketso Gordhan, CEO of the SA SME Fund, about the R1 billion VC Fund of Funds (VC FoF) which recently had its first close of R600 million. This week, the SA SME Fund officially announced that it had secured the first close of its R1 billion (~$51 million) Venture Capital Fund of Funds (VC FoF) at R600 million (~$30 million) against an initial target of R500 million (~$25 million). Through the raised capital, the SA SME Fund intends to deploy the capital in venture capital firms that are backing innovative startups building solutions which address South Africa’s most pressing problems. TechCabal had a sit down with Ketso Gordhan, CEO of the SA SME Fund, to learn more about the rationale behind raising the fund, the impact of such a fund in the country’s venture capital industry and innovation in general, as well as the next steps in deploying the raised capital. TechCabal: Please tell us a bit more about the SA SME Fund and the recent closing of the R600 million fund. Ketso Gordhan: The SA SME Fund was established about five years ago as an initiative of a group of CEOs from the private sector. Initially, 50 companies contributed R900 million, the Public Investment Corporation (PIC) using the Unemployment Insurance Fund (UIF), and Compensation Fund (CF) money, contributed R500 million, meaning we had a fund of R1.4 billion. With that fund, we did private equity, venture capital, and debt investments in SMEs via intermediaries. Based on that experience, we realised that the two things we wanted to continue doing were debt and venture capital. So last year, we raised a relatively small R300 million debt Fund, with the Gauteng government providing us with R100 million of first-loss capital, the Industrial Development Corporation added R100 million and we added R100 million, and we added R100 million. The fund mainly went to township businesses in the Gauteng district as debt to SMEs. Over the last two years, we have been trying to raise another fund focused exclusively on venture capital. We were finally able to achieve our first close of it a few weeks ago, at R600 million. We hope that by the end of the year, we would have closed the entire R1 billion we set out to raise, if not more. The reason we decided to raise this fund is that we realised the value and power of venture capital in driving innovation, economic growth, and finding solutions to some of our country’s pressing problems. Also, we realised that there is a shortage of capital in VC and wanted to help plug that gap. With this new fund and the last one I mentioned, we are now the largest institutional investor in the VC sector. TC: What role do you think the fund will play in making capital available especially looking at the fact that we are currently in a VC downturn? KG: All money we will be able to raise through this fund will be allocated to at least 10 or 11 VC funds. We believe that’s going to significantly, and in a positive way, impact the VC landscape in South Africa because these funds having more assets under management through our contributions means they can put this into innovative startups. As an industry, venture capital in South Africa has been doubling in size over the last three to four years and I think we are going to repeat that trend one or two more times. A lot more institutional capital is likely to come into VC and we are also very proud that we were the first to convince a pension fund to allocate capital to a VC fund. The Consolidated Retirement Fund contributed R250 million of the R600 million that we announced and we are very proud of that because it is a needed development in the growth of VC in South Africa. We are expecting at least one more fund, if not more, to partake in the next raise of fundraising. It will take another year or two or three for this trend to mature but eventually, we will see larger amounts of capital flowing from institutions into VC and we are proud to have contributed to kick starting this trend. TC: How important are public and private sector partnerships in growing the VC industry in South Africa? In most countries where venture capital has taken off, the government has played a leading role in providing either first-loss capital or cheaper capital, and also incentivising other investors into VC. In South Africa, unfortunately, we haven’t really seen the government play that role. But the SA SSME fund has effectively filled that gap. Last time around, we allocated money to nine venture capital funds, five of them were first time fund managers, so five of them had never run a venture capital fund before. This time, unfortunately, we will still do some first time fund managers, but a lot fewer, probably about two or three, because this time, we have pension fund money, and we need to be a lot more cautious with how we invest pension fund money. But still, we would have contributed to aid first time fund managers coming into the VC space over the last three to four years. So I think those are the most important types of partnerships where government, corporate and fund or fund managers like ourselves, give an opportunity to first time fund managers to come into the VC industry. TC: In terms of the deployment of capital, where will the funding be allocated? KG: We don’t do any sector-specific VC funds. Most of the funds we allocate money to are generalist funds, but I can say that we will definitely be doing biotech. This is because it’s an important area of research in South Africa. We currently have put money into one such fund, which is South Africa’s only biotech fund, and we plan to continue to invest in that space. We will
Read MoreFlutterwave’s Agboola joins Wall Street Journal CEO council
Africa’s leading payments company chief, Olugbenga Agboola, joins a long list of CEOs globally who are shaking the finance world across different verticals. Olugbenga ‘GB’ Agboola, the CEO of Flutterwave, Africa’s leading payments technology company, has joined the prestigious Wall Street Journal (WSJ) CEO Council. This recognition, which follows the recent acceptance of Flutterwave’s CFO Oneal Bhambani into the Wall Street Journal’s CFO Network, establishes GB as a global thought leader in fintech. Comprising 350 CEOs from various industries, the WSJ CEO Council commands a strong global presence, with a collective workforce exceeding 11 million employees and generating about $4.48 trillion in annual revenue. It serves as an influential platform, facilitating growth conversations and fostering the exchange of ideas among leaders of the world’s most renowned companies. With an academic footprint that cuts across institutions such as the Massachusetts Institute of Technology, the Wharton School of Management, and the University of Westminster, GB brings a wealth of knowledge and expertise to his role at Flutterwave. In 2020, he was named the African Leadership Magazine’s Young Business Leader of The Year. GB’s inclusion in Fortune Magazine’s 40 under 40 list and a subsequent acknowledgement on Time Magazine’s 2021 Next 100 list further solidify his status as an influential tech leader. Also, in October 2022, he was conferred with the National Honor, Officer of the Order of the Niger, by President Muhammadu Buhari of the Federal Republic of Nigeria. Under GB’s leadership, Flutterwave’s payment infrastructure has transformed transactional experiences across the African continent, becoming the fourth company to gain unicorn status (one billion dollar valuation) after raising a $170m Series C round in 2021. In his new role within the WSJ CEO Council, GB will have a unique platform to share his perspectives and engage in conversations about emerging economies, payments, and global fintech with some of the world’s most influential CEOs. “As Flutterwave continues to innovate and provide payments infrastructure in Africa and beyond, it is an honour to join the ranks of WSJ’s esteemed CEO Council, an important platform for thought leadership and the exchange of ideas,” said Flutterwave CEO Olugbenga ‘GB’ Agboola. “Flutterwave’s work is an example of the transformative power of financial technology, and I look forward to bringing my perspective as the company’s CEO to the Council.” Other members of the Council include Ebenezer Onyeagwu, group managing director and CEO, Zenith Bank; Allan Thygesen, CEO, Docusign; Satya Nadella, CEO of Microsoft; Börje Ekholm, president and CEO at Ericsson; Todd Boehly, chairman and CEO at Eldridge; and Arvind Krishna, CEO at IBM.
Read MoreNigeria’s YouVerify is on a global expansion drive. But first, Kenya
Identity verification processes can sometimes be lengthy, complex, and inconvenient for users. YouVerify—a Nigerian startup—which recently launched in Kenya, plans to address the issues as it works with local banks, telcos, and fintechs. Digital verification continues to grow across different markets globally. Multiple startups have since seen a niche in verification exercises, including Nigeria’s YouVerify, which has set up shop in Kenya in an event held in Nairobi yesterday. According to YouVerify, the company relies on its technologies to go beyond know-your-customer processes—unlike similar companies that scan documents for verification. Going beyond KYC means YouVerify has supplemented its service offerings with other products, such as know-your-business, know-your-transaction, know-your-employee, risk intelligence, and media screening. YouVerify says it is expanding its product’s reach, meaning it will likely launch in more countries in the nearest fiuture. According to the company’s chief executive, Dimitri Kanellopolos, the startup’s goal is to help organisations navigate the hurdles of regulatory requirements. In Kenya’s case, companies that process or control data must be registered with the data commissioner’s office. Such companies include fintechs, which must comply with Kenya’s central bank requirements. READ MORE: Kenya’s Data Protection Commissioner takes aim at loan apps Why Kenya? YouVerify is expanding to Kenya to help businesses comply with regulations. It believes providing businesses with the necessary tools and expertise can help create a more trustworthy, transparent, and sustainable economy in Kenya. Gbenga Odegbami, YouVerify CEO and co-founder, stated that the company’s decision to expand its products and solutions to Kenya was a strategic move. After analysing the compliance landscape in Kenya, YouVerify identified the market’s potential for its technology. Expanding their product offerings to Kenya aligns with Youverify’s global vision to drive financial innovation. By introducing its technology and expertise to the Kenyan market, the company aims to transform businesses’ approach towards compliance. “Expanding our product offerings to Kenya aligns perfectly with our vision to drive financial innovation on a global scale. As we bring our cutting-edge technology and expertise to the Kenyan market, we aim to revolutionise the way businesses approach compliance,” said Odegbami. Kanellopolos added that the company is “excited to extend our products and services to Kenya. For long, we have had our sight on the country’s rapidly evolving financial sector and commitment to regulatory reform. This creates the perfect ecosystem for regtech service providers like ours to thrive and empower Kenyan businesses to satisfy regulatory requirements efficiently and scale confidently.” Locally, YouVerify may focus on telcos, banks, and lenders to offer verification services. It already works with e-taxi firm Bolt and Wema Bank. Market challenges Kenya has been closing loopholes in the regulatory space with new laws, especially in data protection. How YouVerify will navigate complex and evolving regulatory frameworks remains to be seen. Compliance with regional, industry-specific, and data privacy regulations poses ongoing challenges, requiring companies to stay up to date with changes and adapt their processes accordingly. While Youverify seldom shares information about fraud activities like its rival Smile Identity, it should be noted that fraudsters are constantly adapting and finding new ways to deceive identity verification systems. Companies must stay ahead of emerging fraud techniques and continuously update their algorithms and technologies to detect and prevent these fraudulent activities.
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How to check KCSE timetable online in 2023
Like with other exams like WAEC, To adequately prepare for the KCSE 2023 exams, it is crucial to have access to its timetable. Fortunately, with the advancement in technology, you can easily check the KCSE timetable online. This guide will walk you through the simple steps to access the timetable and stay informed about the exam schedule in 2023. Step 1: Open a web browser To check the KCSE timetable online, start by launching a web browser on your computer, smartphone, or tablet. Popular web browsers include Google Chrome, Mozilla Firefox, Safari, and Microsoft Edge. Ensure that you have a stable internet connection to proceed to the next step. Step 2: Visit the official KCSE website Type the official website address of the Kenya National Examinations Council (KNEC) into the web browser’s address bar. The website is typically “https://www.knec.ac.ke”. Press “Enter” or “Go” to navigate to the site. Step 3: Locate the KCSE timetable section Once you are on the KNEC website, look for the section dedicated to KCSE examinations or timetables. Usually, this information can be found on the homepage or under the “Examinations” or “Timetables” tab. Click on the appropriate link to access the KCSE timetable. Step 4: Choose the appropriate year and examination type On the KCSE timetable page, you may be required to select the year for which you check its timetable. Additionally, choose the examination type, which is usually “KCSE.” This ensures that you access the correct timetable for your specific year and examination. Step 5: Download or view the timetable After selecting the year and examination type, the KCSE timetable for that year will be displayed. You can choose to either view the timetable directly on the website or download it to your device for offline access. To download, right-click on the timetable link and select “Save As” or “Download.” For faster access to the 2023 KCSE timetable, click here immediately. Also, you can still get the 2022 KCSE timetable here if you need it. Final thoughts on how to check the KCSE timetable online in 2023 By following the steps outlined above, you can easily check the KCSE timetable on the official KNEC website. Remember to regularly check for any updates or changes to the timetable as the examination period approaches. Proper planning and time management based on the KCSE timetable will contribute to a well-organised study routine and ultimately help you excel in your exams.
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