2024 ways to change SASSA bank details and names
Changing South African Social Security Agency (SASSA) grant banking details is a straightforward process that ensures your grant payments are directed to the correct account. If you’re an approved beneficiary of the SASSA SRD R350 Grant and need to change or update your bank details and names, follow these steps: 1. Visit the Official SASSA Website To initiate the change SASSA bank details process, go to the official website at (https://srd.sassa.gov.za/said). Scroll down to where you see the following in the picture below 2. Submit your ID number On the website, locate the designated box provided for ID Number submission. Enter your ID Number accurately and double-check for any errors. 3. Receive a secure link via SMS After submitting your ID Number, you’ll receive an SMS containing a secure link unique to you. This link will be sent to the mobile phone number you provided during the grant application process. 4. Click on the secure link to continue process to change SASSA bank details Access the link provided in the SMS and carefully follow the instructions provided. This link will direct you to the necessary steps to change SASSA banking details securely. 5. Verify bank account ownership If you opt to receive payments into a bank account, ensure that the account belongs to you. SASSA strictly prohibits payments into accounts owned by another individual. 6. Verify mobile phone ownership to complete the process to change SASSA bank details For those choosing the money transfer option via major banks, confirm that the mobile phone number receiving the SMS is registered in your name. SASSA does not transfer grants to phone numbers registered to another person. 7. Note future payment usage Understand that the updated banking details will only be used for future payments, following verification. Changing or correcting name details for SRD SASSA In addition to changing banking details, applicants who were declined due to incorrect names and surnames can also request updates. Follow the same process outlined above, ensuring that your ID Number and personal information match the details on your South African green ID Document or Smart ID Card. Your name and surname will only be updated if they correspond with records in the Department of Home Affairs database. Final thoughts on the process to change SASSA bank details Following these steps diligently, beneficiaries can ensure that their SASSA grant payments are directed to the correct account and that their personal information is accurately reflected in the system.
Read MoreAI Regulation is premature for Africa, says new study by Qubit Hub
For four days in November 2023, Africa’s technology leaders convened in Addis Ababa, the Ethiopian capital, to discuss the continent’s digital future. AI was at the top of the agenda. Though the leaders acknowledged that the rapidly growing technology “can stimulate economic growth” on the continent, they still made a case for regulation as part of a Continental Strategy. While the conversation on AI regulation in Africa—like the rest of the world—is expected, a new study by Qubit Hub, an African-based AI research, innovation, and development lab, argues that focusing on building a strong foundation is crucial before introducing policies. The study claims policymakers should prioritize improving the state of the AI ecosystem. Countries like Mauritius and Egypt have dedicated national strategies to technology. “Policy initiatives should be geared towards expanding computing facilities and internet connectivity, funding data centres, advancing the capabilities of Africa’s talent, and instituting policies that ameliorate data sets constraints,” the report argues. Using a ‘four horsemen’ operational system framework, the report analyzed the crucial components of the AI ecosystem: data sets and data systems, digital infrastructure, talent, and markets. At the foundation of any AI model is data. But Africa grapples with limited online data sets, according to the report. These limitations not only result in biased AI systems but also hinder the development of AI products for the African market since AI systems perform best when trained on data that is representative of the target user. While the report notes that there have been efforts to collect indigenous African data, it argues that there needs to be careful thinking about how this data is collected, handled, and stored to safeguard its authenticity. AI models need data infrastructure to work, but Africa doesn’t have enough. According to the Data Center Map, Africa has 95 data centers out of 5,065 globally. Of the top 500 most powerful commercially available computer systems known to us, only one is located in Africa – in Morocco. The report makes a case for more investment in data infrastructure on the continent, noting existing efforts to bridge the gap: Africa Data Centre’s $500 million investment that will create ten hyperscale data centres sprout across 10 African countries within the next two years. As AI adoption continues to grow on the continent, with AI-focused startups springing up, talent is needed to advance the design and development of solutions specific to Africa. The talent value chain in Africa is at the bottom of the heap, and though this has the potential for mass job creation, it poses unique challenges that may call for a rethink of African labour laws. One of the major issues to come out of Africa, and Kenya in particular, was the horrible working conditions that people hired to moderate the OpenAI platform and train its AI models, were subjected to. The report also argues that for artificial intelligence to be properly maximized in the African market, there has to be more awareness of the benefits of the technology and its use cases should reflect the African realities. AI-focused solutions should address real-world challenges such as rural development, low literacy levels, and financial inclusion, among others. More importantly, efforts should be directed towards ensuring the commercial viability of these solutions. The big question is whether AI solutions can be profitable in Africa. The report proposes a two-way solution: innovation that reflects the socio-economic challenges of users and a focus on niche markets.
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11 effective ways to prevent your iPhone from getting hot 2024
In today’s digital age, iPhones have become indispensable companions for many, serving as communication tools, entertainment hubs, and productivity aids. However, one common issue that iPhone users encounter is the device getting hot, often due to prolonged usage, user habits, or environmental factors. Excessive heat isn’t only uncomfortable to handle,it can also potentially damage the device’s components. To help you keep your iPhone running smoothly and coolly, here are eleven effective strategies to prevent your iPhone from overheating. 1. Avoid direct sunlight Direct sunlight can cause your iPhone to heat up rapidly, so it’s essential to keep it shaded or indoors whenever possible to prevent the iPhone from getting hot. 2. Remove or replace iPhone pouch/case Thick or insulated cases can trap heat around your iPhone, worsening the problem of the iPhone getting hot. Temporarily remove the case to allow for better airflow and heat dissipation. On the other hand, try getting well-perforated pouches as opposed to largely enclosed ones. 3. Close background apps to prevent iPhone from getting hot Running multiple apps in the background can strain your iPhone’s processor and contribute to the iPhone getting hot. Close unnecessary apps to ease this strain. 4. Disable background app refresh Background app refresh can cause your iPhone to work harder than necessary, leading to the iPhone getting heated. Disable this feature to conserve resources and reduce heat generation. 5. Turn off location services or hotspot Continuous use of GPS and location services or hotspots can be a major culprit behind the iPhone getting hot. Disable location services for apps that don’t require them, and put off your hotspot when it’s not in active use. These actions will reduce strain on your device. 6. Lower screen brightness High screen brightness not only drains battery life but also increases the likelihood of the iPhone getting hot. Lower the screen brightness to reduce heat generation. 7. Update iOS Keeping your iPhone’s operating system up to date is crucial for addressing potential software-related issues, including the iPhone getting hot. Regularly check for and install iOS updates to ensure optimal performance. 8. Avoid Processor-Intensive tasks to prevent iPhone getting hot Engaging in processor-intensive activities like gaming or video streaming for extended periods can lead to the iPhone heating up. Limit these activities to prevent overheating. 9. Turn off unused connectivity features Bluetooth, Wi-Fi, and cellular data can all contribute to the iPhone heating up, especially when actively searching for connections. Disable these features when not in use to conserve battery and reduce heat. 10. Stop using iPhone while charging Using your iPhone while it’s charging can increase heat generation, especially if you’re engaging in processor-intensive tasks. To prevent the iPhone from heating while charging, it’s advisable to avoid using it altogether or limit usage to essential tasks like answering calls or messages. Letting your iPhone charge undisturbed can help maintain a cooler operating temperature and ensure efficient charging. 11. Give your iPhone a break to preventing it from getting hot If you notice your iPhone is heating, it’s essential to give it a rest. Turn off the device and allow it to cool down before resuming use to prevent long-term damage. Final thoughts on preventing iPhone getting hot These simple yet effective strategies will significantly reduce the likelihood of your iPhone getting hot and ensure that it remains cool and functional. Remember to stay vigilant and proactive in managing your iPhone’s temperature, as prevention is key to maintaining optimal performance and longevity for your device.
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Open banking can change Nigeria’s financial industry. Why is the CBN stalling on it?
Open banking, which allows banks to share customer data consensually with fintechs, is believed to be a game-changer for Nigeria’s financial space. Yet the country’s banking regulator, the Central Bank of Nigeria, is moving slowly on its adoption. Three years ago, Nigeria’s Central Bank released the first draft of a regulatory framework for open banking. It was a pivotal moment, and Nigeria enjoyed the privilege of becoming the first African country to adopt the practice last year. It was commendable work from a regulator that’s often on the receiving end of criticism from the public. Yet, months after moving quickly to adopt a framework, the apex bank has stalled on introducing a much-needed standard, keeping open banking in theory. A standard will ideally create a uniform way of transferring data through APIs and a public register of all the participants in open banking. Standards are very important. For example, before the IBM standard, the personal computer industry operated multiple user interfaces, making PC parts very expensive and out of reach for most people. The IBM standard helped create the uniformity that the modern PC industry was built on. Open banking needs this uniformity and the CBN’s apparent lack of urgency towards creating this standard risks delaying a pivotal step towards financial inclusion. How can open banking change Nigeria? Take lending as an example. Loans contribute significantly to the income of financial institutions, and to ensure that they are repaid, banks like to have data points on the customers to make informed lending decisions. So far, bank-led lending has resulted in low credit penetration, with as much as 70% of bank account holders locked out from accessible credit. In the last few years, several fintechs have entered the credit market to fix this despite having limited data. The result has been a mixed bag of sub-prime loans and predatory collection methods. With open banking, lending fintechs would receive data (transaction history, consumption patterns) from banks—there are at least 120 million bank customers in Nigeria—to assess creditworthiness and also help create a much-needed credit score for Nigerians. Fintechs can also create new types of personalised financial products backed by data, as Nigerian banks are not incentivised to innovate given that the majority of their profits come from non-banking sources. In what was a record year for profits, most banks made money from the devaluation of the naira last year, with minimal income from core banking interests or new products. Nigeria is already a prime market, with startups like Okra, Mono and Stitch offering innovative solutions similar to open banking due to demand. Real-time payments, a crucial enabler, are booming. Last year, Nigeria’s largest real-time payment infrastructure processed 9.6 billion transactions, according to data seen by TechCabal. Chart by Stephen Agwaibor/TC Insights Should the CBN regulate open banking? There are concerns that because open banking relies on technology, an ever-changing field, the CBN should not regulate it; instead, it should be regulated by Nigeria’s data protection agency, the Nigeria Data Protection Commission (NDPC), as data privacy is a foundational pillar of open banking. “The central bank’s job is to implement policies, not technology,” said David Peterside, the co-founder of Okra, an open banking startup. The CBN’s guidelines from last year focused on two main issues; availability of technology and security. Peterside added that the CBN should instead focus on making the banks and API providers partner because the CBN’s regulatory burden would require banks to build APIs, inflating costs for the banks. Large British banks have spent more than £500 million on implementing open banking. With startups already providing similar services, banks can forgo this bill. But given the sensitivity of financial information that would be shared, there is no ideal way that the CBN would not be involved in a regulatory capacity, said Ikemesit Effiong, head of research at SBM Intelligence, a Lagos-based think tank. “Nigeria is a bank-led financial system, so it will not be unusual for the CBN to give out the regulations. However, violations will be [the responsibility] of the data protection agency,” Babatunde Obrimah, chief operating officer of the Fintech Association of Nigeria, told TechCabal. He added that because banks, fintechs, and mobile money operators obtain licences from the CBN, it is the only body to regulate them properly, but interoperability must be ensured. What’s in it for the banks? Right now, there is fear in the banking industry that the implementation of open banking would inevitably lead to more competition. “It’s the same pie that everyone is eating out of, and you don’t want anyone to eat into your part,” is how an industry insider puts it. This is, however, an unfounded fear because most Nigerians use legacy banks and fintechs, Effiong said. A similar example of user inertia is how the Nigerian Communications Commission (NCC) introduced SIM porting a decade ago, allowing customers to switch network providers easily, but less than 2% of customers have ported since. Revenue sharing, the prospect of mergers and acquisitions, and the CBN’s backing are some of the ways banks can be incentivised to share their customer’s data, Nnamdi Ifechi-Fred, a digital economy analyst at Stears, told TechCabal. Public awareness can spur the CBN Public awareness of the benefits of open banking can spur the CBN to finalise open banking. The United Kingdom became one of Europe’s leaders in open banking by increasing awareness of the benefits of open banking. Within two years, 11% of British consumers were active users of open banking. Since India’s apex bank introduced the Account Aggregator (AA) framework, which facilitates secure financial data sharing via APIs, about 60% of Indian businesses see open banking as a gateway to acquiring consumer-consented data. It has now become a staple in India and is powering the next stage of open banking—open finance. This can be replicated in Nigeria, but the CBN’s lack of a uniform standard is severely halting this progress. Fintechs have already integrated and partnered with banks, but the current reality of open banking cannot power
Read MoreExclusive: Gokada pivots to an “asset-light model” as it looks to raise funding
Gokada, one of Nigeria’s most prominent last-mile delivery companies, is pivoting to an asset-light model amid efforts to raise funding, two sources close to the company told TechCabal. Oluwaseun Omotosho, the company’s COO, also confirmed the strategic shift to TechCabal. Going asset-light means that Gokada owns only 10% of the estimated 5,000 bikes on its platform. Drivers are onboarded as partners and are charged a commission for every order they fulfill. Founded in 2017, Gokada initially began with a hire-purchase agreement for drivers. The arrangement involved the company buying the motorcycles and charging a daily repayment fee spread for up to three years. The plan was to convert these drivers into partners upon completing their payments. But this approach proved costly. Since Gokada owned the bikes, it took on expensive maintenance costs that ran into tens of thousands of dollars monthly between late 2021 and early 2022. “We thought to ourselves, what can we do to stop this? If we had continued, the business would have closed down,” Omotosho said. The company reworked the hire-purchase agreement and passed the maintenance cost to drivers. These decisions helped Gokada grow its revenue in 2022, the company said. Gokada will no longer buy motorcycles for drivers and will instead connect drivers who need motorcycles to financing companies. It will only manage the motorcycles and oversee payment collection. The company is also in talks with investors to raise funding this year, Omotosho said, declining to provide additional details. In 2022, Gokada was looking to sell a competitor, Kwik Logistics, but the deal did not go through. In February 2023, TechCabal reported the company was looking to raise $100,000 through crowdfunding. The company raised $5.3 million in Series A funding in 2019. Gone through the ‘worst phase’ 2020 was a difficult year for Gokada. A ban on two-wheelers in Lagos forced the company to pivot from ride-hailing services to the delivery business. It also laid off 80% of its workforce. Fahim Saleh, the company’s former CEO, was also murdered in his New York apartment in the same year. In February 2023, Gokada laid off at least 54 employees, citing harsh macroeconomic conditions. It also had to become a leaner operation, reducing its two offices into one and renegotiating terms with some of its vendors. The COO said no employee has been let go since the last layoffs and the staff count is now around 30. “We have gone through the worst phase. We are not above the water yet. This survival period has allowed see what needs to be supported and what isn’t necessary,” he said.
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👨🏿🚀TechCabal Daily – Astrotwig loses $20,000 to investment scam
In partnership with Share this newsletter: Lire en Français اقرأ هذا باللغة العربية Good morning Here’s your monthly reminder to share TC Daily with your network. If you enjoy our work, please show us some love by responding to this email or sharing your favourite editions on social media. In today’s edition Astrotwig loses $20,000 to investment scam Sierra Leone’s tech minister is building the “Estonia of Africa” Firstmonie leads in Nigeria Moove moves deeper in India Roam raises $24 million Events The World Wide Web3 Opportunities Startups Astrotwig loses $20,000 to investment scam While not every investor is untrustworthy, some individuals capitalise on the vulnerabilities of young companies seeking funding. That’s the harsh reality faced by Astrotwig, a Nigerian music and social networking startup, that allege they were the victim of a “sophisticated scam”. The fledgling startup lost $20,000 in bitcoin on February 10, 2024, to someone they say was posing as an “angel investor.” Following the scam, the CEO, Samuel Adeleke resigned and Astrowig launched a crowdfunding campaign. Here’s the story: Astrotwig, led by Adeleke, put out a Twitter post seeking a $500,000–$1 million Simple Agreement for Future Equity (SAFE ) investment for their pre-seed round. A supposed investor, Simon Tiwari, claimed to have seen Astrotwig at a MIDEM pitch event and offered to invest the full $1 million. Following discussions, a deal was struck, and documentation was signed for the $1 million investment, scheduled to be received on February 11, 2024. Both parties agreed to transfer the said loan via Bitcoin due to “unstable foreign exchange” in Nigeria. According to Adeleke, Tiwari directed the company to send a test transaction of $20,000 in bitcoin as collateral to facilitate the transfer of the $1 million loan. To fulfill this request, they reportedly gathered loans from friends and family. Initially, Adeleke and his co-founder used a new cryptocurrency wallet, but at Tiwari’s insistence, they switched to a Mycelium wallet—a non-custodial wallet that prioritises anonymity, letting users hide details like IP addresses for untraceable transactions— preferred for the investment. Tiwari provided a QR code for the transfer. When they sent a $19 test transaction, scanning the QR code deducted an additonal $19,300 from the company’s wallet. Astrotwig realised it was a scam and reported it to police. The company has raised ₦345,000 ($227) so far to repay lenders who are threatening legal action. 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 Sierra Leone wants to become the “Estonia of Africa” In a bid to emulate Estonia’s success in e-governance and digital innovation, Sierra Leone is embarking on an ambitious journey of its own to become a regional powerhouse. Nestled along Africa’s west coast, the country’s strategy—a blend of political will and strategic investment—is led by President Julius Maada Bio to transform itself into the “Estonia of Africa,”. According to Salimah Bah, the country’s minister of communication, technology, and innovation, the vision is to “see Sierra Leone play a leading role in tech export.” Making strides: Sierra Leone aims to do this by implementing ambitious projects like a national ID system, drone corridors, and advancements in robotics research. However, with their ecosystem still in its early stages, the ministry has spent the past six months laying the groundwork. A National Tech and Innovation Summit in May is in the works to attract investments and partnerships. Read more about Sierra Leone’s journey to the global tech stage here. 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. Fintech Firstmonie reigns as Nigeria’a top bank-led agency player Firstmonie, the agency banking arm of First Bank of Nigeria, has solidified its position as the country’s foremost bank-led agency player, according to data from payments provider Interswitch seen by TechCabal. This excludes data from the Nigerian Inter-Bank Settlement System (NIBSS), which also handles a substantial volume of transactions. In 2023 alone, Firstmonie facilitated over ₦1.1 trillion ($725.3 million) in transactions, surpassing the combined transaction volume of several major banks including Access Bank, Zenith Stanbic IBTC, Union, Ecobank, FCMB, and Fidelity Bank. How’s this possible? Industry analysts attribute this shift to several factors. The early 2023 cash crisis in Nigeria exposed limitations in traditional banking infrastructure, particularly during peak demand. As banks’ networks faltered, users flocked to agency banking alternatives, where fintechs were quicker to adapt. Fintechs were seen as more agile and user-friendly, with easier agent onboarding, wider reach through mini POS terminals, and innovative solutions. However, competition within the fintech space itself is fierce. In 2023, KippaPay, an agency banking service, exited the sector after reportedly processing only ₦36 million ($23,738) in transactions, citing shrinking profit margins as the reason for closure. Considering how inflation is driving up the cost of POS devices and shrinking margins, will fintechs maintain their lead or banks regain their footing? Dig deeper. Funding Moove lays more tracks in India with $10 million injection Moove is shifting gears to enter into new Indian markets. Zoom in: Over the past year, Moove, the mobility fintech leader, has been on a roll, launching in three strategic Indian cities— Hyderabad, Mumbai, and Bangalore—and amassing over 30 million trips. Now, fueled by a recent $10 million funding round led by Stride ventures, Moove’s India story is poised for an exciting next chapter. From Naija to Namaste: Launched in Nigeria in 2020, Moove’s unique model, offering revenue-based vehicle financing tailored to ride-hailing drivers, has already empowered countless individuals to hit the road and earn a living. With this fresh injection of capital, Moove plans to expand its reach to even more Indian cities—Delhi, Pune, and Kolkata— and also increase the number of cars on its platform to 5000. That’s not all: Moove has
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With ₦1.1 Trillion in transactions, Firstmonie is the biggest bank-led agency banking service
Firstmonie, the agency banking arm of First Bank of Nigeria, is the biggest bank-led agency player in the country’s agency banking market, according to data aggregated by payments provider Interswitch and seen by TechCabal. Firstmonie processed over ₦1.1 trillion in transactions in 2023, more than double the amount handled by Access Bank, Zenith Stanbic IBTC, Union, Ecobank, FCMB, and Fidelity Bank combined. The Interswitch report only reflects payment activity within its network and excludes information from Nigerian Inter-Bank Settlement System (NIBSS) which also processes a significant volume of payments. The report shows that, compared to previous years, Firstmonie was outpaced by five VC-backed fintech companies—Moniepoint, Opay, MFS Africa (Onafriq), and Nomba. Previous Insterswitch reports show that from April 2021 to March 2022, Firstmonie processed the second-highest amount of agency banking payments—₦2 trillion, double what it processed in 2023. Interswitch declined to comment on the figures. Image source: TechCabal/Ngozi Chukwu. Data from Interswitch’s agency banking report. Between 2021 and 2022, three bank-led agency banking services were in the top 10, but this new report shows them losing momentum and market share to fintech companies like Nomba, which processed ₦1.14 trillion—nearly 2.5 times what it did in 2021-2022. One factor that may have contributed to the increased market share of agency banking players is the cash crunch in early 2023. As Nigeria grappled with widespread cash scarcity in 2023, traditional banks’ network infrastructure faltered under the weight of increased digital payments, leaving their various payment platforms, including POS agents, teetering. This operational nightmare was a golden opportunity for nimble fintech players whose platforms witnessed a surge in usage, including POS transactions. The numbers speak for themselves. Paga, a long-time fintech player, processed a staggering ₦147.1 billion in transactions, more than double the ₦68.3 billion it handled through Interswitch’s platform between April 2021 and March 2022. This figure surpasses the transaction volume of the agency banking business of Access Bank, one of Nigeria’s biggest banks. Industry analysts attribute this shift to several factors. Fintechs are perceived as more agile and adaptable, offering easier agent onboarding, a wider reach through mini POS terminals, and innovative solutions. Additionally, the 2023 cash crunch exposed limitations in traditional banking infrastructure, driving users towards alternative channels like agency banking, which fintechs were quicker to capitalize on. More than being nimble, these fintechs are also more accessible than bank-led agency banking providers. While Firstmonie still boasts the largest bank-led agent network in Nigeria with over 200,000 agents, which it claims are “spread across 772 out of 774 local government areas in Nigeria,” it has stricter agent requirements that exclude a larger part of the small and medium businesses. To become a Firstmonie agent, you must have an existing business registered with a corporate body or a current account. This excludes a lot of legitimate small businesses and even individuals who want to make a business of the POS agency by itself. Fintech competitors like Moniepoint and Opay only require means of personal identification. “Amongst fintech themselves, there is cutthroat competition because this is all they have to survive on,” an agency banking expert told TechCabal. “Banks have many other options. They make money from loans, transfers, and more.” However, fintech has to come up with ways to survive or die. Last year saw the exit of agency banking services like Kippa Pay. The Interswitch report shows that the fintech processed only ₦36 million in 2023 before it closed shop due to the decreasing margins in the business. It is also plausible that fintech companies like Opay and Moniepoint, which have raised funding, can use VC funds to subsidise their products and services to gain market share. Firstmonie, for instance, reportedly has a higher charge on transactions than fintechs. VC funds also make fintech quicker on their feet than banks. While banks may need to wad through bureaucracy to make capital investments in hardware like the much cheaper mini POSes, fintechs like Nomba and Opay have been aggressively pushing to widen and deepen the reach of their services. However, there may be a shift in dynamics in favour of the banks shortly, considering how inflation is driving up the cost of POS devices and shrinking margins. Seeing that VC funding is less forthcoming, this fintech may give way to banks that already have sustainable businesses that can feed the growth of their agency banking arm.
Read MoreFledging social streaming platform Astrotwig scammed of $20,000 by angel investor
Astrotwig, a Nigerian platform that combines music streaming with social networking, claims that it lost $20,000 to Mr. Simon Tiwari, an angel investor who offered to invest a convertible loan of $1 million in their pre-seed round. The fledgling startup said it raised the money from loans from friends and families. They are currently running a crowdfunding campaign to repay our lenders or otherwise face legal action. At the time the company issued a public statement, they had raised about ₦345,000 ($227). After an investigation of the scam, which the company claims happened on February 10, Samuel Adeleke, the CEO of the company, stepped down. Adeleke said he came in contact with the investor after he put out a Twitter post about looking for a $500,000–$1,000,000 SAFE investment. The angel investor claimed to have seen Astrotwig at a MIDEM pitch event and offered to invest the entire $1 million they were seeking for our pre-seed round as a convertible loan. “Subsequently, due diligence was conducted, and the necessary documentation was signed. The agreed-upon funding was scheduled to be received on Sunday, February 11, 2024,” the public post read. Both parties decided to transfer said investment via Bitcoin. ” due to the unstable foreign exchange situation in Nigeria.” According to Adeleke’s post, the company was instructed by the investor to send a test transaction of $20,000 in Bitcoin as collateral to facilitate the transfer of the $1 million loan. They reportedly pooled took loans from friends and family, to fulfill this request. Adeleke and his cofounder deposited the cash in a newly created cryptocurrency wallet, but upon Tiwari’s insistence, the funds were moved to a Mycelium wallet, which he claimed was the preferred platform for investments. Mycelium Wallet is a non-custodial wallet that allows users to maintain a high level of anonymity by veiling details like IP addresses, which can be used to trace devices. He also provided a QR code for the test transfer to be made. “As instructed, a small test transaction of $19 was sent, but upon scanning the provided QR code, $19,300 was immediately deducted from our wallet.” The company claims that it was only at that moment that they realised that it was a “ sophisticated scam.” Astrotwig has now replaced the CEO, who handled most of the interactions. An official police report has been filed regarding the incident. Adeleke, who is also a final year student at the Nigerian university, the Federal University of Akure, co-founded the social music streaming app with his friends, Ajibola Disu and Oluwaseun John. The app enables users to share what they are listening to, and host listening parties and music discussions online. It also allows people to post clips of songs and their opinions about them. Astrotwig, which claimed to have a little over a thousand users registered on its waitlist, launched a Beta version of the app in July 2023. Since its launch, the company has not made any posts about the platform until this announcement about the scam. This is a developing story.
Read MoreBacked by political will, Sierra Leone wants to become the “Estonia of Africa”
Sierra Leone, the tropical nation on Africa’s west coast, may be geographically small, but its tech ambitions are huge. President Julius Maada Bio wants to make Sierra Leone “the Estonia of Africa.” Backed by political will and government investment, Sierra Leone wants to supply tech talent to the rest of the continent. “The vision is to see Sierra Leone play a leading role in tech export,” Salima Bah, the country’s Minister of Communication, Technology, and Innovation, told TechCabal during a recent visit to Lagos. “This isn’t the first time Sierra Leone has played a global leading role in capacity development. Sierra Leone used to be known as the Athens of Africa.” The 32-year-old minister, who resumed office last September, believes that the country’s size is advantageous. “Because we are small, we can act faster and adjust to changing times and an easier ecosystem to deal with, which puts us in a better position.” In 2018, President Bio established the Directorate of Science, Technology, and Innovation (DSTI) and appointed a Chief Innovation Officer. He also set up the Ministry of Communication, Technology, and Innovation and named Bah its first Minister in July 2023. The ministry has spent the past six months laying the groundwork for its plans to support its startup ecosystem, which the minister says, is “still at its nascent stage”. Sierra Leone will host a National Tech and Innovation Summit in May to showcase its ecosystem to attract tech investments and secure partnerships. The country is putting its money where its mouth is. It will build a tech and innovation city—a special economic zone—where it will train young people in different tech skills to help deliver the government’s mandate to create 500,000 jobs by 2028. “We consider digital skills as an exportable commodity. We will focus on the skills we can export and provide infrastructure,” Bah said. The ministry has acquired 130 acres of land for the project which will also feature accelerator hubs. Sierra Leone’s strategy involves listening and capturing from its regional counterparts, explaining the minister’s visit to Nigeria. It’s not shy about copying Nigeria’s blueprint on how to build a thriving ecosystem. Highlights from the visit include talks of cross-border collaboration with Nigeria’s tech regulator, the National Information Technology Development Agency (NITDA). Sierra Leone’s startup act is also in the works. Sierra Leone’s bold bet is a good start for Africa. While the rest of the continent will be watching how the country pulls this off, its strategy—a combination of political will and government investment—is worth noticing. Catching up to the continent’s biggest players will take time, and Sierra Leone insists it isn’t competing but instead collaborating. It will convene an African ministerial roundtable at its tech summit to discuss open-source software and strategies on how the continent can collectively benefit from AI. “We are willing to learn how others have done it. We aren’t inventing the wheel, we are learning from others. It doesn’t mean we are just going to copy and paste everything, we are going to adapt and adjust,” Bah said.
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10 ways to stop your Android hanging or lagging 2024
Dealing with a slow or lagging Android device can be frustrating, but there are several steps you can take to troubleshoot and improve its performance. Here are ten effective ways to address and potentially stop hanging or lagging issues on your Android device: 1. Close background apps to stop Android hanging or lagging Apps running in the background consume system resources and can slow down your device. Therefore, you can likely stop your Android phone from hanging or lagging by closing unnecessary apps. This can be done by accessing the recent apps menu and swiping them away or using a task manager app to terminate background processes. 2. Restart your device to stop Android hanging or lagging A simple restart can often resolve temporary performance issues by clearing system memory and refreshing processes. Power off your Android device, wait for a few seconds, then power it back on to see if the lagging or hanging persists. 3. Update system software To stop your Android phone from hanging or lagging, ensure that your Android device’s operating system and apps are up to date. Manufacturers frequently release software updates that include performance improvements, bug fixes, and security patches. Go to Settings > System > System update to check for available updates. 4. Clear app cache and data Over time, app cache and data can accumulate, leading to performance degradation. Clearing cache and data for individual apps or using the system’s built-in storage cleaner can free up space, improve performance and stop hanging or lagging on your Android device. Go to Settings > Apps > [App Name] > Storage > Clear cache or Clear data. Please be careful when clearing cache and data. Clearing an app’s data means you may lose all the things you’ve done on/with the app. You’ll lose updates and more. For example, if you clear WhatsApp data, you may lose your chats and media. 5. Disable animations Animations and transition effects can make your Android device feel sluggish, especially on older or lower-spec devices. Disable or reduce animation scales in the developer options menu to enhance responsiveness. Go to Settings > Developer options > Window animation and disable all animations such as Transition animation scale and Animator duration scale. 6. Free up storage space Insufficient storage space can impact your device’s performance. To stop your Android from lagging or hanging, delete unused files, photos, videos, and apps to free up storage space. You can use built-in storage management tools or third-party apps to identify and remove clutter. 7. Use lite versions of apps Another way to stop your Android phone from hanging or lagging is to consider using lite versions of resource-intensive apps or alternative lightweight apps designed to consume fewer system resources. Lite apps often offer similar functionality with less memory and storage requirements, resulting in smoother performance. 8. Disable or uninstall unused apps Unused or rarely used apps still consume system resources and often contribute to lagging or hanging issues. Disable or uninstall apps that you no longer need to declutter your device and improve performance. 9. Enable high-performance mode to stop Android lagging Some Android devices offer a high-performance mode or power-saving mode that adjusts system settings to prioritize performance over battery life. Therefore, you can stop your Android phone from hanging or lagging by enabling high-performance mode in your device’s settings to optimize performance for demanding tasks like gaming. 10. Factory reset to stop Android lagging If all else fails, performing a factory reset or flashing your Android phone can restore your Android device to its default state, eliminating any software issues or conflicts that may be causing performance problems. Remember to backup your data before proceeding with a factory reset or flashing, as they will erase all data on your device. Final thoughts on how to stop your Android from hanging or lagging By following these ten troubleshooting steps, you can effectively address and stop hanging or lagging issues on your Android device, and enjoy a smoother and more responsive user experience.
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