One year after shutdown Botswana e-commerce startup Ponatshego owes customers $25,000
Botswana e-commerce startup Ponatshego still owes customers P350,000 (~$25K) for undelivered goods, one year after the startup shut down because of financial constraints. “It has been excuse after excuse from the cofounders, and it’s painful because that was a lot of money,” said one customer who paid P7,000 (~$505) for a gaming console in January 2023. Motshidisi Ngaiti, Ponatshego’s co-founder, told one customer he was trying to sell his car to settle the customer’s refunds following the liquidation of the business, according to messages seen by TechCabal. Another customer who paid P13,000 (~$940) for a laptop that was never delivered only received a refund of P4,000 (~$290) in July 2022. “They have not been taking my calls ever since then, and it’s like they have completely disappeared,” the person said. “I paid 50% of the company’s total debt, which was about P350,000 in total, comprising customer refunds and other debts,” Ngaiti told TechCabal, adding that the founders agreed to settle Ponatshego’s outstanding debts relative to their shareholding. Ngaiti also claimed he settled part of his business partner, William Whittle’s share of the debt. But Whittle refuted those claims. “I admit that some customers are yet to get refunds, and a process is currently underway to make sure that they get paid,” Whittle said. He declined to provide a timeline for the repayments. Founded in 2020, Ponatshego’s business model comprised shipping high-end goods to consumers who ordered through its online platform. The platform also had a marketplace for local brands to list their products. In May 2021, the startup raised a P250,000 (~$18,000) seed capital round from the Angel Network of Botswana (ANB). The company aimed to expand its business model to SADC countries, but its collapse and the debt left in its wake have left a bad taste in the mouths of customers. “I tried reporting the case to the relevant regulators, but I have given up now, “ one customer told TechCabal. “They have tainted local e-commerce platforms for me.”
Read MoreOlajumoke Adenowo joins Flutterwave’s board as fintech giant pursues international expansion
Flutterwave, Africa’s most valuable startup, has named Nigerian architect Olajumoke Adenowo as a member of its global board of directors, as part of the company’s efforts to drive its international expansion strategy. Adenowo, who is Flutterwave’s first independent non-executive board member, is expected to contribute to its goal of solidifying its pan-African and global positioning, the company said in a statement on Monday. With a successful career in architecture spanning over 35 years, CNN described her as “Africa’s Starchitect.” “Olajumoke’s insights and strategic vision will be invaluable assets as we continue to pioneer innovative solutions and drive impactful change across Africa and beyond,” Olugbenga GB Agboola, CEO and Founder of Flutterwave, said of the appointment. Adenowo hopes to draw on her “personal paradigm” and “global exposure” to bolster the company’s “mission of bridging Africa with the world’s markets.” She leads a large portfolio of local and international projects at the architectural firm AD Consulting. She became the first African and First black architect published by Rizzoli, thanks to her latest book, “Neo Heritage: Defining Contemporary African Architecture.” She was recognized as the 2020 Forbes Woman African Entrepreneur of the Year Award. Flutterwave, widely believed to be considering an Initial Public Offering (IPO) on the NASDAQ, remains bullish on international expansion. The fintech giant recently expanded into India, signing an agreement to offer its remittance product to Asia’s second-biggest economy. Since its founding in 2016, Flutterwave has rapidly expanded and now has a presence in about 30 African countries. In December 2023, the company named five new executives across its risk, compliance, and expansion departments one month after Oneal Bhambani, its former CFO, abruptly left the company. Flutterwave recently secured a court order to recover $24 million lost to unauthorized POS transactions.
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👨🏿🚀TechCabal Daily – Uber eyes Moove
In partnership with Share this newsletter: Lire en Français اقرأ هذا باللغة العربية Good morning Legend has it that if you open the spice cabinet of any well-meaning, chronically online Nigerian, you’re sure to find bottles of soy and oyster sauces. And even though soy sauces are traditionally used in East Asian cuisines, they’ve slowly influenced Nigerian plates…and food content creators are to blame thank. In the first edition of our latest vertical, The Algorithm, we take you behind the scenes on how these creators have spent the past four years redefining the taste palettes of Nigerians. In today’s edition Uber eyes Moove with $100 million investment Nigeria limits cash use for FX payments Nigeria compenates customers of shuttered MFBs FATF grey lists Kenya for the first time in 10 years Cell C is set to pay its $15 million debt The World Wide Web3 Job openings Investments Uber eyes Moove with $100 million investment It feels like it was just last week we wrote to you about Nigerian fintech Moove raising $10 million to expand further into India. Now, the company is mooving fast with an investment that could be worth 10x its last raise—and ⅓ of its total raise so far! The news: Ride-hailing giant Uber is exploring a potential investment of up to $100 million in the Nigerian fintech which specialises in vehicle financing for drivers in the gig economy. This moove, if finalised, would significantly boost Moove’s valuation to $750 million, further solidifying its position as a major player in Africa’s burgeoning tech scene. The potential investment, according to Bloomberg, is still currently under discussion, but it underscores Uber’s growing interest in deepening its presence in Africa’s booming ride-hailing market. In 2022, the platform recorded its 1 billionth-ride milestone on the continent. While the company has invested in over 40 companies globally, its potential investment in Moove could mark its first in Africa. Access payments with Moniepoint You don’t have to take our word for it. Give it a shot like he did Click here to experience fast and reliable personal banking with Moniepoint. Economy Nigeria limits cash use for FX payments Cash is no longer king in the Nigerian forex market. In its latest attempt to save the naira from further depreciation against the greenback, Nigeria’s apex bank has set a $500 limit on the purchase and sales of the dollar by cash. What this means is that if you want to buy or sell foreign currency exceeding $500 through a Bureau De Change (BDC) operator in Nigeria, you’ll need to use digital payment methods like bank transfers or online platforms. The new rule bars BDCs across the country from dealing with cash transactions above $500 for the purchase or sales of foreign currency. The move is the latest in the cards of methods used by the apex bank in curtailing the naira’s depreciation. While the CBN has implemented various regulations for BDCs in the past, this particular approach is a novel and untested method. This month, the CBN also introduced new tiers of licences for BDC operators in the country, increasing their share capital to ₦2 billion ($1.3 billion) and ₦500 million ($340 million) for Tier 1 and Tier 2 licenses respectively, way up from ₦35 million(~$24 million) previously charged for a general license. In addition to barring BDCs from engaging in street trading, the CBN also compelled a mandatory source of funds disclosure for individuals selling $10,000 or more to BDCs. Compared to international practices, some might argue that the CBN’s limitation on cash transactions for foreign currency exchange is uncommon. While many many countries regulate BDCs and money laundering activities, switching to digital transactions at a $500 cap limit is brow-raising. The blame game: The Nigerian government continues in its search for ways to bring the naira back on track. If Twitter chatter is to be believed, one of the ways it plans to do this is by cutting off BDCs whom the government has often blamed for its ailing currency and black market disparity. Regulation Nigeria compenates customers of shuttered MFBs In May of last year, Nigeria’s Central Bank (CBN) revoked the licences of 132 microfinance banks. The reasons the apex bank cited included inactivity, insolvency, failing to render returns, and a host of other stuff. For the thousands of Nigerian customers across these apps, this meant they lost access to every single dime locked tightly in the MFBs. Our reporting has now uncovered a new fact: the Nigerian Deposit Insurance Corporation (NDIC), the Nigerian agency that protects deposit banks, stepped in to offer some relief to the customers of the affected microfinance banks. Here’s what you need to know: As per notices released in May and August 2023, depositors with proof of claims can receive up to ₦200,000 ($242 at the time) per account. Customers with larger deposits, however, will have to wait for the NDIC to liquidate the banks’ assets and distribute the remaining funds as “liquidation dividends.” While banks like Eyowo Microfinance Bank have been applying to get their licences back, Eyowo restored interbank transfers througha partnership with Providus Bank in June 2023. This offered a glimmer of hope for its customers to gain access to their funds, but not for long, as the app became inaccessible weeks later. It’s going to take a while: As compensation efforts continue, the fate of many banks hangs in the balance. While the NDIC is exploring alternatives like shareholder investment, success isn’t guaranteed. Liquidation looms for most affected banks, and while Nigerian corporate laws require that liquidation be completed in 12 months, the same Act also allows the process to exceed the given time as long as the public is notified. Secure payment gateway for your business Fincra’s payment gateway enables you to easily collect Naira payments as a business; you can collect payments in minutes through bank transfers, cards, virtual accounts and mobile money. Create a free account and start collecting NGN payments with Fincra. Economy FATF grey lists
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Food creators are redefining the palate of Nigerians
One afternoon in 2018, Tosin Samuel, popularly known as TSpices, posted a step-by-step photo recipe for vegetable soup (Efo Riro) on Instagram. She had no idea that the single decision would forever change her social media experience and, consequently, her life. In a matter of hours, DMs and notifications poured in, with hundreds of people leaving messages and comments about how useful and amazing the food and recipe were. In three days, the number of followers she had on the app climbed from 100 to 5,000. TSpices, whose demeanour is cheerful and bright, continued posting food recipes, photos and then videos, growing her audience. She’s now one of the most followed food creators in the country, with about 1.1 million combined followers on Instagram, Twitter and TikTok. Not everytime you go out to eat How to make a simple 15 minutes Chinese stir fry for valentine Quick & Easy! pic.twitter.com/uBJaJU20wm — Tspices Kitchen (@Tspiceskitchen) February 13, 2024 If you’re active on social media, you probably already know that Nigerians are one of the biggest content consumers on the internet. According to this report by the World Economic Forum, Nigerians spend the longest time per day on social media, with the average user logged in for four hours —two hours more than the global average of two hours and twenty-seven minutes. Fareedah, a social media food creator, was diagnosed with an ulcer in 2019. This came with dietary restrictions, so she had to make a lot of adjustments to her diet. After signing up for an online nutrition class, Fareedah decided to make efforts to create healthy meals for herself, despite not being great at cooking. She started sharing food content on her Instagram, and soon began to receive a lot of comments about how good and healthy they looked. In no time, Fareedah built a community of about 14,000 followers on the app that revolved around healthy home-cooked meals. Her followers consist mainly of young people who are committed to eating well whilst exploring more ways to be creative with food. “People started to ask me for recipes and were recreating my meals,” she shared with TechCabal over a call. “It became some sort of accountability group for people who wanted to commit to eating more healthy foods.” Making a salad Making a smoothie Fareedah’s food One of Fareedah’s recipes Culinary schools in Nigeria typically cost upwards of ₦50,000, which is almost twice the minimum wage. This means that the most efficient way to learn how to make a great amuse-bouche is via the Internet. For Nigerians, it makes better sense to learn to cook from other Nigerians, as there are certain cultural nuances that these creators have. For example, Omuah Bello, a 27-year-old stylist who likes to cook, didn’t understand why she and her family didn’t enjoy the creamy pasta that she prepared. She tried different recipes from different creators on Instagram and YouTube until she eventually found one customized for the Nigerian palate by former Nigerian chef, Chef Obubu. This recipe had a lot less cream and a lot more seasoning, which made more sense to the Nigerian palate. While TSpices started with local Nigerian dishes, she has since moved and now incorporates food from different cultures around the world, which her audience loves. According to her, one of the most noteworthy things is that she makes these meals more accessible to the average Nigerian in terms of ingredients used and processes. When she started, one of the biggest challenges for her was her location. Residing in a small city like Lokoja means that she doesn’t have access to certain ingredients that can only be found in large stores. She had to make good use of the ingredients she had available at the time or use substitutes for some parts of the recipes, and so far, it has worked for her. TSpices’ ability to adapt and create alternatives with locally available ingredients resonates with the belief that everyone, regardless of location or resources, can embark on a flavorful culinary journey. “One of the biggest misconceptions is that certain foods are too fancy and people can’t prepare them [at home],” she told TechCabal. “If certain ingredients or tools are too difficult to source here, I find alternatives that work just as well for my audience, so they know that you can cook these nice meals from anywhere.” Food content on social media blew up in 2020 during the Covid-19 pandemic. Millions of people worldwide who were constrained to their homes started cooking to pass the time or spark joy, with nearly all of their favourite food spots closed down. Since then, food has become one of the most popular content categories on social media. Sharing videos, pictures and recipes of food has become a growing trend on social media, with the food hashtag on Instagram having about 519 million posts. On TikTok, #food has amassed over 555 billion views. The fusion of technology, creativity, and a genuine passion for food has democratized culinary knowledge. Juliet, a social media vendor, has learned to cook a lot of meals from Instagram. Before coming across a recipe on TSpice’s page, she only ate her white rice the Nigerian way; with stew. Now, she makes a mean stir-fry sauce, which she got right on her first attempt and is now one of her favourite things to eat. Since then, she has been able to replicate a wide variety of the foods and drinks she’s seen online. She now runs an online food business in her city, where she sells various meals ranging from stir-fry sauces to ramen noodles — all of which she learned to prepare from Instagram. According to her, the popularity of Asian mukbangs on TikTok, which are videos of people eating large quantities of food, typically Asian food, has helped her business. Influence and consumption have now become indistinguishable from each other, and the culinary revolution has spilled over into real-life dining experiences. Kizito, a chef at an Abuja restaurant, shared
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New tips and tricks to get more Blooks on Blooket 2024
One of the most exciting aspects of the Blooket educational platform is the different blook types, the adorable characters that add a fun twist to your learning experience. Here’s an article on discovering and understanding the fascinating world of blooks. Understanding Blooks rarities When you enter a Blooket game, you’ll have the opportunity to choose a blook, your virtual companion for the game. But before you make your selection, let’s take a closer look at the different rarities and blook types available: 1. Common Blooks These are the default blook types that everyone has access to. They feature various animals such as dogs, cats, sheep, owls, and more. Since they are freely available to all users. Any blook classified as common cannot be sold. 2. Uncommon Blooks Any blook here can be sold for $5 in Blooket. They include a wide array of characters from themed boxes like Medieval, Wonderland, Breakfast, Space, and more. Look out for unique creatures like elves, witches, astronauts, and pandas among others. 3. Rare Blooks With a value of $20 in Blooket, any blook in this category is highly sought after for their distinctiveness. From jesters and dragons to pufferfish and lemurs, a blook from this class adds an extra layer of excitement to your gaming experience. 4. Epic Blooks A blook in the epic category can be sold for $75, making them highly desirable. Keep an eye out for unicorns, spaceships, and French toasts among other captivating characters. 5. Legendary Blooks Legendary blooks are equally rare and valuable, fetching $75 in Blooket. With characters like mega bots and megalodon sharks, any blook that falls into this category is defined spectacular and unique. 6. Chroma Blooks The rarest of them all, chroma blooks are incredibly hard to obtain but fetch a whopping $300 when sold. From rainbow pandas to haunted pumpkins, these blooks are the crown jewels of any collection. Building your Blooks collection Now that you’re familiar with the different blook types and their rarities, it’s time to start building your collection. Here’s how you can acquire new blook(s): 1. Buying themed boxes Themed boxes contain a selection of blook(s) based on specific categories such as Medieval, Wonderland, Breakfast, and more. Each box offers a chance to randomly obtain one of the blooks it contains, so choose wisely and expand your collection. 2. Marketplace If you’re looking for a specific blook, you can visit the marketplace where users buy and sell blook(s). Keep an eye out for rare and legendary ones that might catch your interest. Exploring your stats and customization options As you journey through Blooket, take a moment to check your stats and explore customization options: 1. Stats Overview Your stats provide insights into your gaming journey, including the number of games played, tokens earned, and players defeated. Keep track of your progress and celebrate your achievements. 2. Class Pass Dive deeper into customization with the Class Pass feature, which allows you to create your own blooks. With a wide range of customization options available, unleash your creativity and design unique blooks that reflect your personality. Final thoughts With its diverse range of blook types and customization options, Blooket offers a captivating gaming experience that combines learning and fun. Whether you’re collecting rare blooks or customizing your own, there’s always something new to explore in the world of Blooket.
Read More₦200,000 deposit payout for customers of shuttered microfinance banks began in May 2023
The Nigerian Deposit Insurance Corporation (NDIC) has compensated some customers of 132 microfinance banks whose operating licences were revoked by Nigeria’s Central Bank in May 2023. According to two NDIC notices dated May and August 2023, customers of the affected banks will receive a maximum payment of ₦200,000 upon proof that they held deposits. The Central Bank revoked the licences of those banks for being “inactive, insolvent, failing to render returns, closing shop, or not providing the type of banking services for which they were licensed for more than six months.” The apex bank did not provide specific reasons for each affected bank. Two of the most prominent banks affected by the CBN action are Eyowo Microfinance Bank, backed by the fintech Softcom, and Purple Microfinance Bank. “Some of the banks believe the CBN wrongfully revoked their license and have been trying to make a case to regain their license, albeit under a different name,” said an NDIC agent who asked not to be named as he was not authorised to speak on the matter. Eyowo has repeatedly said it is engaging the CBN to regain its licence and resume operations. In June 2023, it entered into a short-lived partnership with Providus Bank, which allowed some customers access to their money. At least two customers said they were initially able to withdraw their funds from Eyowo after the Providus partnership, but the app became inaccessible weeks later. “Every microfinance bank affected by the revocation is undergoing this NDIC process, which is part of the CBN/NDIC procedure to either wind down fully revoked banks or reinstate successful applicants like us,” a highly-placed person at Eyowo said. Customers with bigger deposits need to wait it out The situation could be a little more complex for customers who had more than ₦200,000—the maximum the NDIC will pay— in their accounts. In some cases, the affected banks are engaging customers and reassuring them of the work being done to ensure they access their deposits. If the banks cannot make good on their promise, the customers will still have recourse to the NDIC. The government-backed insurer will assess the banks’ assets that lost their licenses and sell whatever it can. It will also recover their loans and sell whatever investments those banks have. “After liquidating the entity, the NDIC will pay depositors with more than ₦200,000 part or all of their remainder deposits as a “liquidation dividend.” While some banks are applying to get their licences back, there’s a real risk that they may be unsuccessful. The NDIC may eventually liquidate the bank’s assets to pay their depositors if they fail to convince the central bank that they are healthy institutions. “Liquidation is often the last resort,” an NDIC official who asked to speak anonymously told TechCabal. “After assessing the bank’s assets, we often try other measures, such as asking the shareholders to pump money into the bank.” In cases where that yields no response, the NDIC often tries to negotiate a takeover by another bank or get someone else to run the bank until things have stabilized.
Read MoreBuild real businesses, VCs tell founders at Techstars Demo Day
Globally, venture funding is drying up, and Africa has expectedly taken the hit. According to TechCabal’s funding tracker, African startups raised $3.2 billion in 2023—the lowest figure in three years. Of the continent’s Big 4, Nigeria sits at the bottom of the ladder with just $398.2 million. If earlier predictions by tech leaders are anything to go by, we expect investors to get more frugal in 2024, which means fewer checks. Yet some investors believe that the funding downturn raises questions about the need for startups to rethink their building mindset. This was the major takeaway from an investment panel at the ARM Labs Lagos Techstars Demo Day held in Lagos, Nigeria, on Tuesday, February 20, when three investors were asked about the state of VC funding and innovation in Nigeria. While acknowledging the reality of the venture funding downturn, Olumide Soyombo, Founding Partner of Voltron Capital, an early-stage investor, painted a picture of opportunity, urging founders to focus on building “real businesses” with strong unit economics. “It brings us back to building with the right mindset. The VC winter in Africa allows us to reset how we want to build,” he said. For Ovo Emorhokpor, Founding Partner of Beta Ventures, a New York and Lagos-based venture capital firm, much attention has to be focused on providing real value to customers. “Founders should build a business on the back of customer satisfaction. It is all about your customers,” he advised, suggesting that these fundamentals will pave the way for sustainable growth beyond the need for constant funding rounds. Venture funding is a valuation game. Soyombo stressed the need for realistic valuations, reminding founders that investors seek returns for their LPs. He calculated that with $400-500 million in new funds raised on the continent, VCs require significant value creation. This necessitates efficient capital allocation and building real value before seeking higher valuations. He urged founders to build “category-defining companies.” Due to rising inflation and currency devaluation, African startups that raised funds in dollars struggle to report revenue to their investors, raising the question of raising in local currencies. The argument is that raising funding in local currencies would make it easier to return investments. Biola Alabi, General Partner of Acasia, the venture capital investment arm of Acasia Group, shares a similar view, saying export-oriented businesses should consider local currency options: “The most important thing right now is for companies to stay alive and capital is capital.” She also made a case for collaboration between local and foreign investors to better understand the landscape. Emorhokpor said his company made naira-denominated investments as far back as 2021 and those investments are “doing very well even on a dollarized basis.” He noted that one of the key things they look out for companies is the “pricing power” which he described as the ability to increase products and services in response to changing economic conditions and still retain paying customers. Looking beyond immediate challenges, Soyombo advocated for a futuristic mindset, investing with a 6-10-year timeline and building businesses that can thrive in the long term. “I can’t invest in a very interesting founder that I like and think about the macroeconomics of Q4 2024, I am thinking of what Q4 2031 looks like,” he said. Despite the cautious outlook, the panel remained optimistic about the future for Nigeria’s tech ecosystem. Alabi expressed faith in the talent and innovation driving the ecosystem, saying, “amazing people are building amazing products” with the potential to become global solutions.
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Kippa users demand access to data as the fintech quietly pivots
For Lanre*, a Lagos-based businessman, the past month has been a nightmare. Unable to access data about the customers he has painstakingly collected over the past two years, he now manually tracks receivables and email addresses of particular customers he wants to send discount codes. He is one of the reportedly 500,000 business people who used Kippa, a Nigerian fintech app, for bookkeeping, invoicing and the kind of documentation every small business owner needs. Since January 2024, the Kippa app has been inaccessible, leaving the business owners who had come to depend on it without access to critical data like inventory, transactions, debtors, income, expenses, payments, and invoices. “It had details of all my clients, my sales record, and everything else I needed to assess my profit and loss,” Lanre told TechCabal. The app has been on autopilot for some time, one person with knowledge of the company’s business told TechCabal, claiming that the Kippa app will soon be taken down from the Google Play Store and the Apple App Store, leaving business owners permanently unable to access their data. Kippa’s sudden inaccessible bookkeeping platform “is essentially a breach of its obligations” to its customers, Akintunde Agunbiade, a lawyer at Aelex, a Lagos-based firm, told TechCabal, citing Nigeria’s data protection laws. A screenshot of Kippa’s bookkeeping app Launched in 2021, Kippa offered small businesses a free-to-use and simplified bookkeeping platform for all their data needs. For many, it was a game changer and a departure from manually keeping business records. But three years after those users had come to rely on the app, they face a reality where such important data is no longer accessible and they want to know if they’ll get that data back. Many others are frustrated at the company’s poor communication. On a Telegram channel operated by Kippa, more than 2,000 users say they’re still unable to access their data on the app. It’s been like this for a month, but all their messages are met with silence. “Users have been asking for access to data so they can move to another platform or resume their previous traditional way of managing their books, but no response has been given,” one Kippa user told TechCabal in an email. “I have been totally blind about my business since Kippa shut down. I don’t know what will happen to my data, if I can get it back, or if it is even secure,” another Kippa user told TechCabal. At the beginning of the app blackout, Kennedy Ekezie, the company’s CEO, told one customer in a message seen by TechCabal that the problem was a “temporary AWS downtime” that would be resolved quickly. But the company appears to have moved on from fintech and is planning to pivot to edtech, as TechCabal first reported. The company has not publicly confirmed the pivot or informed users about its decision to move on from fintech. The company’s CEO did not respond to an email from TechCabal seeking comments for this article. It has been a year of big changes for the Tiger-backed fintech, having shut down Kippa Pay, its agency banking business and Kippa Start, its business registration vertical. It has also significantly reduced its workforce and is putting all its focus on an AI-powered platform that enables users to create online courses using any file format and share them on their preferred messaging platforms. Got a Tip?We’d like to hear from you. You can contact the authors of this article at muktar@bigcabal.com & ngozi@bigcabal.com. TechCabal protects the confidentiality of its sources. Exclusive: ₦30 million internal fraud sours exit as Kippa scraps severance for laid-off workers Exclusive: Kippa Cofounder Duke Ekezie exits after agency banking shutdown, embarks on new venture
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Latest detailed steps to easily use Blooket in 2024
In today’s digital age, educational platforms are revolutionising the way students learn, making it more interactive and engaging. Among these platforms stands Blooket, a dynamic tool that transforms traditional learning into exciting games and quizzes. Comparable to popular platforms like Gimkit and Kahoot, Blooket injects fun into education through gamification. This guide aims to demystify the basics of Blooket, offering a straightforward approach for users to explore its features and maximize its potential in the realm of education. Step 1 – Getting Started 1. Visit the website Go to Blooklet official website. More precisely, visit https://www.blooket.com/ for quick access. 2. Create an account If you’re new to Blooket, sign up by filling in the required information on the website. If you already have an account, simply log in using your email or Google account credentials. Step 2 – Exploring the Blooket homepage 1. Dashboard Overview Upon logging in, you’ll be directed to your dashboard. Here, you can find various sections such as stats, blooks, news, homework, and game sets. The “News” section provides updates and announcements from Blooket. “My Sets” lists all the game sets you’ve created. “Favorites” displays sets you’ve marked as favourites. “Homework” shows assigned tasks. “History” presents your past gaming activities. 2. Navigating the Blooket toolbar At the top of the screen, you’ll see a purple toolbar providing quick access to essential features. The Play button lets you join Blooket games. Discover allows you to search for new games. Dashboard takes you back to your dashboard. Create enables you to craft new question sets. Stats shows your past game scores. Market allows you to purchase Blooks. Blooks displays your collection of Blooks. Settings lets you manage your account preferences. Logout logs you out of your Blooket account. Step 3: Playing and creating Blooket games 1. Joining a game Enter a game using the provided 6-digit code and your chosen username. 2. Discovering games Use the “Discover” button to find games related to your interests. Save favourites or report inappropriate games as needed. 3. Creating Blooket game sets To create your own game set, provide a title, description, and cover image. Choose privacy settings and creation methods before finalizing your set. Step 4: Managing blooks 1. Viewing Blooks Click on the “Blooks” button to see all the Blooks you’ve acquired. Each Blook has its own name, sellability, and rarity. 2. Sorting Blooks Sort your Blooks by common, uncommon, rare, epic, legendary, or chroma rarities. Step 5: Buying and Selling Blooks 1. Marketplace Explore themed boxes/categories of Blooks such as Medieval, Wonderland, Breakfast, Space, Bot, Aquatic, Safari, and Dino. 2. Purchasing Blooks Use your tokens to buy Blooks from themed boxes. Confirm your selection and receive a randomly chosen Blook from the box. Step 6: Checking Blooket stats 1. Tracking progress Monitor your game statistics, including games played, tokens earned, players defeated, and more. 2. Customising blooks Use the Class Pass feature to customize your own Blooks, with options for hair, eyes, nose, mouth, skin tone, and clothing. Final thoughts on using Blooket Blooket offers a dynamic platform for educators and students alike to engage in interactive learning experiences. By following these simple steps, you can easily navigate Blooket’s features and make the most out of its educational games and quizzes.
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👨🏿🚀TechCabal Daily – South Africa goes after spam callers
In partnership with Share this newsletter: Lire en Français اقرأ هذا باللغة العربية TGIF Later today, we’ll be having a conversation on embedded insurance in lending on TechCabal Live. Join Turaco CEO Ted Pantone as we explore innovative solutions using case studies from One Acre Fund and Turaco, and barriers to the financial inclusion gap. Register here. In today’s edition Nigeria goes after crypto exchanges How are Nigerian startups navigating cloud costs? SA goes after spam callers Funding tracker The World Wide Web3 Job openings Crypto Nigeria is blocking access to crypto exchanges It’s no news that the Naira has been steadily declining, recently trading at ₦1,600 to the dollar on Wednesday. However, what is rather surprising is the unorthodox effort the Nigerian government has been betting on to salvage the currency. In 2015, Nigeria’s government cut down trees on the streets of Abuja to prevent the activities of black market BDC traders. In 2021, the Godwin Emefiele-led central bank shut down AbokiFX, a website providing currency exchange rates, accusing the platform of engaging in “illegal activities.” And now, the government is trying out even more brow-raising methods to rein in its currency devaluation. The news: Yesterday, the Nigerian Communications Commission (NCC) started restricting users’ access to the websites of cryptocurrency exchanges, including Binance, Kraken, and Coinbase, in the country. The move is seen as part of a broader effort to curb currency speculation as the price quoted on these exchanges often set the unofficial tone for foreign local currency exchange. The move serves as the government’s latest attempt at applying a band-aid to its ailing currency. In recent times it has changed the method for setting its rate in the official foreign exchange market and loosened rules for Nigerians sending money from abroad to provide fixes to the naira. A running trend: While the Nigerian government’s recent move to restrict access to crypto exchange websites seems drastic, it’s not the first time it has grappled with regulating this digital asset. In February 2021, the Central Bank of Nigeria (CBN) issued a circular prohibiting banks and financial institutions from facilitating crypto transactions, effectively banning Nigerians from using traditional channels to buy or sell cryptocurrencies. It recently lifted the restriction in December 2023. However, this new restriction is different. It targets the websites of major international exchanges directly, aiming to curb speculation and prevent the unofficial exchange rates set on these platforms from influencing the Naira’s value. This broader approach signifies a shift in strategy compared to the previous ban, which primarily focused on traditional financial institutions and left peer-to-peer (P2P) trading largely unaffected. The effectiveness and long-term implications of this new ban remain to be seen. Crypto has been making a comeback globally with bitcoin reaching $51,000 for the first time in two years; and on the continent withcrypto startups making a comeback. In Nigeria, crypto startups were already applying for licences from the capital markets regulator, indicating a strong interest in legitimising the industry and navigating the evolving regulatory landscape. Access payments with Moniepoint You don’t have to take our word for it. Give it a shot like he did Click here to experience fast and reliable personal banking with Moniepoint. Cloud How Nigerian startups are navigating cloud costs Cloud cost and overhead expenses are typically the biggest ticket price items for startups. “The biggest fight to come i Africa is getting access to all of that data at scale through low cost/free cloud services,” tweeted venture capitalist Victor Asemota way back in 2018. It’s been six years since that tweet and nothing is closer to the truth. In Twiga 2023, Kenyan e-commerce startup, Incentro sought help to pay its cloud service bill after Incentro, a Google partner, sued the company over a $2 million cloud service contract. Per the contract terms, Twiga could be paying as much as $84,000 per month for cloud services. But for Nigerian startups who earn in Naira, the naira devaluation and FX volatility spells an even bigger price to pay. A $1,000 cloud service—the equivalent of ₦458,000 in early 2023—now costs ₦1.52 million, a 107% increase. Sources told us that startups can spend anywhere from $2,000 to $80,000 monthly in cloud computing costs. How are Nigerian startups navigating these high-up-in-the-clouds bills? Find out here in our exclusive reporting. Secure payment gateway for your business Fincra’s payment gateway enables you to easily collect Naira payments as a business; you can collect payments in minutes through bank transfers, cards, virtual accounts and mobile money. Create a free account and start collecting NGN payments with Fincra. Regulation SA regulators clampdown on spam calls South Africans, get ready to silence those pesky “once-in-a-lifetime investment” calls! The news: Yesterday, the Information regulator (IR) said it will begin cracking down on entities bombarding you with unwanted marketing calls. According to Truecaller, a platform that flags potential spam calls, South Africans receive an average of 10 unwanted calls per month. The IR says enough is enough and will be dishing out fines of up to R10 million ($~522,000) or even jail time for offenders. No matter who’s dialing, the new rule applies to all public and private entities in South Africa. Late to the party: This crackdown is a long-awaited victory for South Africans yearning for phone conversations that don’t involve dubious investment opportunities or free cruises to Atlantis. However, the crackdown is not a first on the continent. In 2016, the Nigerian Communications Commission (NCC) issued a directive to MNOs to implement a “Do Not Disturb” (DND) code for SMS messages. Additionally, the NCC penalized MNOs for violating regulations regarding unsolicited marketing calls. Accept fast in-person payments, at scale Delight your customers by allowing frontline staff and sales agents confirm bank transfers, instantly. Learn more → TC Insights Funding tracker This week, Hohm Energy, a South African climate startup, raised $8 million in seed funding. E3 Capital and 4DX Ventures led the round with participation from Breega, E4E Africa, TO.org, Tekton Ventures, Sunu Capital, Musha Ventures, and Climate
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