TechCabal Daily – Fresh Mooves
In partnership with Share this newsletter: Lire en Français اقرأ هذا باللغة العربية TGIF Wondering what happened in African tech recently? Here’s a glimpse: Venture funding in Q2 reached an impressive $916 million, almost crossing the billion-dollar mark. Fintech is also no longer leading the pack, as energy-focused startups took the lead with $486.9 million in funding. Kenyan startups outperformed the Big 4, securing $462.4 million in funding. Get the full gist when you download our State of Tech In Africa report. In today’s edition Moove raises $76 million Safaricom shuts down sites in Ethiopia Airtel Africa moves to IPO in Uganda Funding tracker The World Wide Web3: Nigeria to verify NYSC certificates with blockchain Event: The Moonshot Conference Job openings Funding Moove raises $76 million Moove is not slowing down. The automobile financing startup has raised $76 million in a new round. This round includes equity and debt and comes from existing and new investors including BlackRock. It also comes soon after Moove raised about $183.3 million in 2022 across four separate funding rounds: $10 million in February, $105 million in March, $20 million in debt funding in June, $18.3 million in October, and$30 million in debt funding in December. Image source: YungNollywood Mooving to profitability: Moove says its new funding will be used to help the company achieve profitability over the next 12 months. According to Ladi Delano, a co-CEO, the startup is already profitable in the UAE, India, the UK, and South Africa. With this funding, Moove is valued at $550 million. Since its launch in 2020, Moove has rapidly expanded its operations within Nigeria and entered new African markets including Ghana, Kenya, Uganda, and South Africa. It has also expanded to other regions across Europe, the Middle East, and Asia. Zoom out: Moove’s rapid scaling is, however, coming at a huge cost. In February, Moove drivers protested in Nigeria over unfair working conditions. In May, Rest of World reported that Moove impounded vehicles for nonpayment of loans in Lagos, Nigeria, as drivers continued to complain. These “mooves” have evidently not dampened investor confidence Secure payments with Monnify Monnify has simplified how businesses accept payments to enable growth. We are trusted by Piggyvest, Buypower, Wakanow, Fairmoney, Cowrywise, and over 10,000 Nigerian businesses. Get your Monnify account today here. Telecom Safaricom Ethiopia shuts down sites in Amhara Image source: Reuters Millions of people can no longer use Safaricom’s services in Amhara, Ethiopia’s second-largest region. Why? Safaricom Ethiopia closed its sites in Amhara due to an ongoing crisis involving the military and the Fano militia, a part-time group without a formal command structure. The crisis led to the federal government declaring a six-month state of emergency in the region on August 4, 2023. How many sites were shut down? The telecommunications company operates 1,272 sites in Ethiopia, but it has not revealed the number of sites affected by the shutdown. Michael Joseph, chairman of Safaricom who recently stepped down as Safaricom’s board director, mentioned that this situation has interrupted the company’s progress in expanding across the country. Safaricom aims to establish 3,000 network sites in Ethiopia by the end of 2024. In the telco’s latest filings, Safaricom Ethiopia has built 875 network sites and partnered with other entities to establish an additional 397 network sites. These sites cover 22 cities within the country. Safaricom Ethiopia has 2.1 million active users who have used its services in the past 90 days. The goal for the year 2024 is to increase this customer count to 10 million. Despite facing challenges, the telco is still committed to launching its mobile money service in the country soon. Discover Trends with Smile Identity Download the Smile ID State of KYC in Africa Report on the latest trends in identity verification across Africa, highlighting the power of biometric verification and document verification in combating fraud. It is a must-read for any business looking to acquire users across Africa and keep up with fraud trends. Telecom Airtel Uganda to sell 20% of its shares to the public Image Source: The Independent Airtel Africa has announced plans to list shares on the Uganda Securities Exchange (USE). According to a statement published on the Nigerian Exchange Group (NGX), the company plans to sell 20% of its shares—equivalent to 8 billion shares— to the public via an initial public offering (IPO). It will do this through its subsidiary in Uganda, Airtel Uganda Limited. What do they hope to gain? Airtel Africa stated that the offer is expected to result in significant local ownership of Airtel Uganda Ltd., prioritising Ugandan investors. Additionally, this initiative is anticipated to play a role in advancing the development of the capital markets within Uganda. Pending approval from the Capital Markets Authority of Uganda, the shares will be made available to investors through conventional channels as well as the Airtel Money platform. This approach is intended to enhance retail participation in the investment process. The transaction process: Absa Bank Uganda Limited has been chosen to be the main advisor for the transaction. Crested Capital has been selected as the primary sponsoring broker to facilitate the process. Katende Ssempebwa and Company Advocates will provide legal advice and support, and EY (Ernst & Young) will handle financial reporting and related matters. Zoom out: Airtel Africa is following in the footsteps of MTN Uganda, which recently celebrated its first anniversary as a publicly listed company trading its shares on the (USE). TC Insights Funding tracker Image source: TC Insights This week, Nigerian mobility company Moove raised $76 million in an undisclosed funding round led by Mubadala Investment Company with participation from Blackrock and other undisclosed investors. Here are the other deals this week: Talents Arena, an Egyptian human resource(HR) company, raised $750,000 in pre-seed funding from UI investment. Egypt-based Bugaurd, a cybersecurity company, secured $500,000 in seed funding; the round was led by A15 with participation from angel investors. FinMeUp, a South-African fintech company, raised undisclosed funding from SAAD and Blu Sky Investments. That’s it for this
Read MoreMoove raises $76 million round led by Mubdala Investment Company
Moove, an African automobile financing startup, has raised $76 million in a new round. The startup says it will use the funding to help achieve profitability. Moove, an African automobile financing startup, has raised $76 million in new funding led by Mubadala Investment Company, an Abu Dhabi investment group, according to the Financial Times. This round includes equity and debt and comes from different sources, including BlackRock. In 2022, Moove raised $10 million in February, $105 million in March, $20 million in debt funding in June, $18.3 million in October, and $30 million in debt funding in December. This new funding will be used to help the company achieve profitability over the next 12 months. According to Ladi Delano, a co-CEO, the startup is already profitable in the UAE, India, UK, and South Africa. With this funding, Moove is valued at $550 million. Launched in 2020 by Ladi Delano and Jide Odunsi, Moove provides mobility entrepreneurs with access to revenue-based financing in markets where there’s low access to credit. Its customers, who are typically ride-hailing drivers, can purchase brand new vehicles using a percentage of their weekly revenue. The startup has annual recurring revenues of $90 million. Since its launch in 2020, Moove has rapidly expanded its operations within Nigeria and entered new African markets, including Ghana, Kenya, Uganda, and South Africa, as well as the United Kingdom, Europe, the Middle East, and Asia. It’s also Uber’s exclusive car financing company in Africa. Moove has operated a plug-and-play model that allows it to scale rapidly into new markets and record minimal defaults by building on top of the technology of its mobility and logistics partners and integrating their APIs to generate creditworthiness scores for automobile financing. However, this rapid scaling has come at a cost. In February, Moove drivers protested in Lagos over unfair working conditions. In May, Rest of World reported how Moove impounded vehicles for nonpayment of loans in Lagos as drivers continued to complain. However, this has evidently not dampened investor confidence. Faris Sohail Al Mazrui, the head of ventures and growth at Mubdala, will join Moove’s advisory board. He said that Moove is addressing a hugely underbanked and underserved market with a long term potential by providing entrepreneurs with credit and financial services.
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Apply for Twitter Blue in Nigeria; X Premium 2023
If you’re interested in subscribing to Twitter Blue now renamed – X Premium, you are reading the right article. X Premium is Twitter’s premium subscription service that elevates quality conversations on the platform. X Premium is an opt-in, paid subscription that adds a blue checkmark to your account and offers early access to select features. Before how to apply for Twitter Blue, let’s see some of the features it holds for you. Features you’ll be enjoying when you apply for Twitter Blue a.k.a X Premium Premium includes a number of features to improve your experience, including: 1. Edit post on Twitter Blue You can access and use the “Edit Post” feature to make adjustments to your published posts within an hour. This includes updates, tagging, and media arrangements. This feature applies exclusively to original posts and Quotes. 2. Half Ads on Twitter Blue You’ll experience a 50% reduction in ads with “Half Ads” in your “For You” and “Following” timelines. As you scroll, non-promoted posts will intersperse between ads, excluding those in profiles, post replies, and other areas. 3. Enhanced user experience You’ll be able to enhance conversations and search by boosting the rankings of posts and replies you’ve engaged with. Subscribers will be highlighted in others’ Verified tabs, showcasing engagement by Premium users. 4. Create longer text posts beyond 280 characters Enjoy the ability to create longer posts of up to 25,000 characters with “Longer Posts.” These extended posts can still include media, polls, and hashtags, but only Premium users can create them, while everyone can read them. 5. Text formatting You’ll be able to style your X posts with bold and italics formatting when you apply for and get Twitter Blue 6. Bookmark folders Organize your Bookmarked posts into private folders for easy discovery using the “Bookmark Folders” feature. 7. Undo button on Twitter Blue When you apply and get Twitter Blue, you can preview and refine your posts before making them visible to others with the “Undo Post” option. 8. Extended video limit With Twitter Blue, you can share longer videos of up to approximately 3 hours in length and 8GB file size with the “Longer Video Upload” feature. You could literally upload a movie. 9. Hide your verification tick You can keep your profile checkmark hidden from profiles and posts using the “Hide Your Checkmark” feature, which includes evolving functionalities. How to apply for Twitter Blue in Nigeria The following steps will help in your application for Twitter Blue also known as X Premium. Please note that the subscription for the service prices at $8/month or $84/year in available countries, to get the blue checkmark alongside the features mentioned above and more. 1. Go to Blue on your X or Twitter app On your Twitter app on the top left you’ll find the menu button. When you click it, you’ll find “Blue” there just like you can see below. However, when you click on the Blue icon, you’ll be greeted by the prompt below that Twitter Blue is unavailable in your region. This issue is mostly common for Twitter users resident in Nigeria and some other African countries. But you don’t need to be dismayed. You can get it done. Just visit twitter.com via your Chrome or Safari browser and log in to your Twitter account. You should see the following when you click on the top left menu: Unlike on the App, what you’ll see here is PREMIUM instead of “Blue”. So click it. 2. Verify phone number You’ll be asked to verify your phone number if you haven’t. Without verifying your phone number, you’ll most likely be unable to proceed with the application for Twitter Blue. 3. Make payment The next step after verifying your phone number is to make payment. For countries like Nigeria, despite the payment currency appearing in naira, you may have issues with payment if you do not have a dollar transaction-enabled card. This is due to the ban placed on dollar transactions via naira debit cards. However, if you have an eligible card, simply input the details, and click subscribe. 4. Get Access Once you subscribe, you’ll be granted access to all X premium features as stated below. If you like, you can go ahead and apply for the ad revenue sharing program. Final thoughts on Twitter Blue subscription Kindly note that upon subscription, modifications to your profile picture, choice of display name, or unique username (@handle) shall lead to the temporary removal of the illustrious blue checkmark, until such time that Twitter verifies your account’s alignment with their verification criteria. During this evaluation phase, further alterations would be on temporary suspension.
Read MoreKnife Capital closes $50 million fund to invest in growth-stage SA startups
Knife Capital has closed its $50 million Series B fund to invest in the expansion of South African startups primarily, with consideration for startups in the rest of the continent as well. South African venture capital firm Knife Capital has announced the close of its $50m Series B expansion fund, Knife Fund III. The fund will provide follow-on funding and invest in the expansion of African innovation-driven companies. “The focus is on high-growth scalable South African B2B technology companies that have impact potential and show strong returns through exit optionality. The fund will also back entrepreneurs in other African countries who fit this investment profile in collaboration with experienced local partners,” the firm said in a statement. Some of the investors in the fund include the International Finance Corporation (IFC), the Mineworkers Investment Company (MIC), the SA SME Fund as well as its new Venture Capital Fund of Funds, Standard Bank, AfricaGrow (a German Fund of Funds backed by DEG, KfW and AllianzGI), Skybound Capital, Fireball Capital and the Draper-Gain family office in partnership with Rand Merchant Bank. “We are delighted to bring together such a credible investor base with a reason to care about the growth of venture capital investments in Africa,” said Keet van Zyl, co-founder of Knife Capital. “Most of our investors are co-investment partners who share deal flow openly and can augment the investments with alternative funding instruments and follow-on funding for enhanced growth. Raising a venture capital fund in Africa is a long and challenging journey, but we could not have scripted the outcome any better,” he added. The Knife Fund III comes at a time when growth-stage capital has been hard to come by for South African startups. Some experts in the ecosystem have even pointed to the shortage as the reason why the country’s startups tend to exit too early.
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5 steps to apply for Twitter ad revenue share 2023
Screenshots of content creators getting paid by Twitter have recently pervaded the renamed social media platform. This singular move has seen a drastic surge in users of the platform including returning, silent, and new users. If you are looking to tap into the money-making avenue designed by Twitter, you may want to first check the conditions for application and benefitting. Then you can read through the following steps on how to apply for the Twitter ad share revenue sharing programme. 1. Visit your settings in the Twitter app/web Once you navigate to the Settings and Support part of your Twitter account by clicking the top left icon, click the Settings and Privacy icon. 2. Find Monetisation The next step towards applying for the Twitter ad revenue share is clicking on “Monetisation”, which is just under “Blue” and just before “Privacy and Safety” on the list. 3. Choose from the Twitter Monetisation options For now, you’ll only find subscriptions under the options. So just punch it. 4. Check your eligibility to apply for the Twitter ad revenue share programme Your willingness to apply for the Twitter ad revenue share programme doesn’t mean you may immediately access the process. At this point you need to check if you’re eligible to enjoy the content creators’ privileges. So click “Check Eligibility” to confirm if you’re eligible. 5. Pass the 4 check marks The checkmarks show the main criteria you must pass to complete the process to apply for the Twitter ad revenue share program. The criteria include: You must be subscribed to Twitter Blue or Verified Organizations 500 followers Active in the past 30 days Be at least 18 years old If you pass these four checks, then click on “Continue to application” and just follow the easy prompts. Final thoughts on apply for Twitter ad revenue share As you can see, contrary to the misinformation pervading the internet, having the Twitter Blue verification badge doesn’t automatically make you eligible for the Ads revenue. Following the highlighted steps in this article, you’ll be in course to getting paid on Twitter too.
Read MoreVeteran investor Olumide Soyombo announces ‘Vantage,’ a memoir of his business journey
Olumide Soyombo, the co-founder of Bluechip Technologies and founder of Voltron Capital, is releasing his business memoir, “Vantage,” this week. It follows his evolution from teenage tech exploration to entrepreneurship and investing. In February 2021, the tech publication Benjamin Dada published an exclusive interview with Olumide Soyombo, co-founder of Bluechip Technologies and one of Nigeria’s most prolific investors. While Soyombo is well-known in Nigeria’s tech circles, he may be unknown to the average Nigerian. Rarely in the press, his interview with Benjamin Dada was the first time he publicly spoke about the scale of his investments. With 26 startups in his portfolio, Soyombo invested early in some of Nigeria’s notable businesses, including Paystack and PiggyVest. His experience and success mean that he gets a lot of questions about his life, his investment thinking, and his pioneering role in the Nigerian tech scene. To those who have always had questions, Olumide Soyombo has answers. Earlier today, he confirmed the imminent release of his business memoir, “Vantage.” The new book is a firsthand account of his experiences, from his early fascination with personal computers to his present-day role as an entrepreneur and investor. “Vantage” will provide a window into the challenges, triumphs, and lessons that have shaped his journey and Africa’s tech ecosystem. Soyombo says in the introduction, “Africa is now the land of unicorns, but before unicorns, there were numerous stories that captured the power and pioneering spirit of the continent’s techpreneurs.” Read also: Olumide Soyombo: The Journey from startup founder to investment mogul Much-needed knowledge sharing in an otherwise secretive ecosystem While Nigeria is one of the most prominent tech ecosystems on the continent, there’s a sense that its leaders guard the stories of the industry closely. In fairness, a seeming unwillingness to share origin stories is a charge often levelled against Nigeria’s business leaders. Lately, a few business leaders have tried to beat those charges. “Leaving the Tarmac: buying a Bank in Africa,” a 2020 book by Aigboje Aig-Imoukhuede, a veteran banker and former CEO of Access Bank shared in part how Aig-Imoukhuede and Herbert Wigwe bought Access Bank in 2002. Austin Avuru’s “A Safe Pair of Hands,” published in 2023, tells the story of the Seplat co-founder’s journey from Delta state to the pinnacle of corporate Nigeria. Soyombo’s “Vantage” will be a welcome addition to the broader literature from corporate Nigeria. According to Maya Horgan Famodu, Founder of Ingressive Capital, Vantage is a “practical, no-nonsense guidance and humble chronology of adventure after adventure will make you laugh, reflect, and inevitably learn.”
Read MoreAirtel Uganda will sell 20% stake in an IPO
Airtel Africa has announced its plans to list on the Uganda Securities Exchange with 8,000,000,000 worth of shares According to a statement published on the Nigerian Exchange Group (NGX), Airtel Africa has announced plans to list shares on the Uganda Securities Exchange. It will do this through its wholly owned subsidiary in Uganda, Airtel Uganda Limited. The telco intends to proceed with an IPO of 8,000,000,000 (8bn) ordinary shares which represent 20% of Airtel Uganda Limited. Under article 16 of Uganda’s National Telecom Operator rules, 20% is the minimum requirement for listing on the stock exchange. Similarly, Airtel Uganda’s principal regulator, the Uganda Communications Commission has set a deadline of 16 December 2023 for meeting this requirement to list. “The offer is expected to result in meaningful local ownership of Airtel Uganda Limited, with preference to be given to Ugandan investors, and to contribute to the development of the capital markets in Uganda,” a statement from the telco read. Airtel would be listing these shares by way of an offer for the sale of ordinary shares by Bharti Airtel Uganda Holdings B.V., ultimately, a wholly owned subsidiary of Airtel Africa. Also, it will be offered to retail investors via Airtel Money’s platform, in addition to traditional channels, in an effort to increase retail participation. All of these moves are subject to regulatory approvals. “ Absa Bank Uganda Limited have been appointed as Lead Transaction Advisor, Crested Capital as Lead Sponsoring Broker, Katende Ssempebwa and Company Advocates as the Legal Advisor, and EY as the Reporting Accountant. A fight to the finish Airtel’s move to deepen its reach in Uganda is a means to compete with fellow telecom giant, MTN. On, July 28, MTN offered 5G services in Uganda, while Airtel followed days later. In Nigeria, MTN Nigeria congratulated Airtel on its 5G launch via a cryptic post on social media. Coming from a shoddy Q1 performance in Nigeria, Airtel would be looking at other markets to deepen its roots.
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TechCabal Daily – DStv has no multi choice
In partnership with Share this newsletter: Lire en Français اقرأ هذا باللغة العربية Happy pre-Friday Our State of Tech in Africa, Q2 2023 report is finally out! Venture funding in Q2 reached an impressive $916 million, almost crossing the billion-dollar mark. Fintech is also no longer leading the pack, as energy-focused startups took the lead with $486.9 million in funding, representing 53% of the total funding. Kenyan startups outperformed the Big 4, securing $462.4 million in funding. Download the report here to explore all the fascinating details! In today’s edition MultiChoice exits Malawi Airtel Kenya to expand network with $150 million eTranzact records $1.3 million profit in H1 2023 USA’s regulator frowns at Vodacom-Vumatel deal The World Wide Web3 Event: The Moonshot Conference Opportunities Streaming Multichoice terminates DStv service in Malawi Multichoice is pulling its DStv service from Malawi. Why? Well, the country isn’t giving it any choice.The Malawi Communications Regulatory Authority (MACRA) secured a temporary court order from the nation’s High Court. This order prevents Multichoice Malawi from altering or adjusting DStv tariffs. On August 8, the High Court issued an additional directive, compelling Multichoice to adhere to the injunction, leading the broadcaster to terminate its DStv offering in Malawi. Image source: YungNollywood MACRA obtained an injunction arguing that Multichoice, which does not directly provide DStv services to the public, does not have the authority to set or change tariffs for the service in the country. In response to the court order, Multichoice considers the situation unfavourable for its operations, and the consequence of non-compliance, which includes imprisonment for the company’s staff, led to the decision to exit the market. ICYMI: In July, the company implemented its third price increase for DStv and GOtv services in Kenya, which became effective on August 1. The rationale behind this latest price adjustment, according to the company, is attributed to inflation and rising costs. 2023 hasn’t exactly been the best year for the broadcasting company. In June this year, Multichoice reportedly lost over 100,000 subscribers, in South Africa. A loss it attributes to competition from streaming platforms like Netflix. Secure payments with Monnify Monnify has simplified how businesses accept payments to enable growth. We are trusted by Piggyvest, Buypower, Wakanow, Fairmoney, Cowrywise, and over 10,000 Nigerian businesses. Get your Monnify account today here. Telecoms Airtel Kenya to spend $150 million on network expansion Image source: DMForCredit, Seriously Yesterday, Kenyan business publication Business Daily reported that Airtel Kenya plans to invest more than $150 million (KSh21.5 billion) over the next three years to expand its network coverage. The telecom will achieve this by adding 649 new network sites across Kenya across the country. What’s happening? Airtel had, in June, spelt out the plan to advance its network infrastructure in renewed aggression to tap into a larger part of the market share, saying at the time that it would put up a total of 349 network sites before the close of the year. Since its launch in Kenya, the telecom has invested more than KSh143.3 billion ($1 billion) in the country, with the majority of these investments occurring in the last three years. Additionally, in June 2023, Airtel Kenya announced plans to add 349 new sites to expand its network’s coverage by the end of the year and meet the nation’s increasing demand for data services. Zoom out: Airtel currently has 26.7% of the market share in Kenya, and its network infrastructure currently spans over 3,200 sites covering 89%of the country across all 47 counties. The telecom also became the second operator in Kenya to roll out the super-fast 5G technology after Safaricom unveiled the service last year. Discover Trends with Smile Identity Download the Smile ID State of KYC in Africa Report on the latest trends in identity verification across Africa, highlighting the power of biometric verification and document verification in combating fraud. It is a must-read for any business looking to acquire users across Africa and keep up with fraud trends. Fintech eTranzact records $1.3 million profit in H1 2023 eTranzact executives during its 18th Annual General Meeting Nigerian payments service provider, eTranzact, has released its financial report for H1 2023. The company recorded a profit of ₦1.01 billion ($1.3 million) in H1 of 2023, representing a 149% increase compared to the previous year. A strong financial performance: The company’s profit for H1 of 2023 exceeded the earnings forecast it had made for the third quarter of 2023, which was projected to be ₦582 million ($8.22 million). Additionally, the company generated ₦17.37 billion ($22.6 million) in revenue for H1 2023. Notably, this revenue figure surpasses the net revenue projection of ₦9.13 billion ($11.9 million) that eTranzact had anticipated for September 30, 2023. ICYMI: In July 2023, eTranzact announced that it made a profit of ₦1.17 billion ($1.5 million) after taxes in 2022, and processed over ₦50 trillion ($63 billion) worth of total transactions, primarily through SwitchIT, its switching services. Its current profit of ₦1.01 billion ($1.3 million) demonstrates the wide adoption of its fintech services in Nigeria. Zoom out: In H1 2023, Access Bank held the largest share in the company, with a stake of 37.54%, which marks an increase from its 23.80% stake in H1 2022. This positions it ahead of eTranzact, which now possesses a 22.98% stake in H1 2023, down from the 31.86% it held in H1 2022. Markets SA’s regulator frowns at Vodacom-Vumatel deal Image source: YungNollywood South Africa’s anti-monopoly watchdog, the SA Competition Commission, has kicked against the proposed fibre merger between Vodacom and Community Investment Venture Holdings. This comes after the companies submitted their R13.2-billion($695 million) deal to the regulator at the end of 2021. The watchdog stated that the deal could mean lessened competition and that the conditions offered by both companies “do not fully address the resultant harm to competition.” What’s happening? In November last year, Vodacom said it would pay R6 billion($337.5 million) in cash and certain fibre assets valued at R4.2 billion($236 million) for a 30% stake in a newly formed
Read MoreWorldcoin illegally collected biometric data, according to the Kenyan government
Kenya’s ICT and digital economy cabinet secretary, Eliud Owalo, was questioned today about Worldcoin’s operations in Kenya. According to Owalo, the firm collected iris data illegally, and there are plans to preserve that data before an assesment is made about the case. Worldcoin‘s woes in Kenya are far from over. Today, two cabinet ministers were questioned by members of parliament about how Worldcoin set up shop locally, how it secured the required licenses for operation, and what will happen to the facial and iris data of nearly 400,000 Kenyans in possession of Tools for Humanity, the German organisation behind Worldcoin. These questions were answered with varying levels of accuracy. While the responses from the cabinet secretary for ICT and the digital economy, Eliud Owalo, and his colleague in the interior ministry, Kithure Kindiki, are far from exhaustive, the individuals will be subjected to another series of questioning in a week to provide more clarity on the entire situation. Worldcoin’s data controller certificate has its limitations According to Owalo, Worldcoin was registered as a data controller in Kenya by the Office of the Data Protection Commissioner (ODPC). However, the license did not imply that Worldcoin had free rein to process user data in the country; the ODPC issued the certificate merely to confirm that Worldcoin was recognised in Kenya and nothing more. “The certificate simply signifies that an entity is known to the ODPC and that it processes personal data of persons located in Kenya. Further, it does not amount to certification of the processing activities of the entity or serve as an endorsement from the ODPC of an entity’s compliance with the provisions of the Data Protection Act or any other laws, including but not limited to the constitution of Kenya 2010,” Owalo explained. The cabinet secretary further clarified that the ODPC issued the certificate to Worldcoin after it had produced the necessary documents “pursuant to the registration regulations”. Who authorised the collection of biometric data? When posed with this question, Owalo did not provide a comprehensive answer, instead he provided snippets from existing data protection laws. For instance, he reminded parliament that Worldcoin had been registered as a data controller in April 2023. “An entity required to process personal data is required to identify itself with the ODPC by registering with the office. And pursuant to the Data Protection Act 2019, an entity should therefore make an application for registration as a data controller where it determines the purpose and means of handling personal data,” said Owalo. The CS further elaborated on the process by which a data processor applies the ODPC, particularly in cases where the organisation manages data for a data controller as per a contractual obligation. Certain companies can register as both data controllers and data processors. Owalo emphasised that this certificate indicated Worldcoin’s adherence to specific sections of the Data Protection Act 2019, specifically for registration. “The license does not in any manner endorse an entity’s compliance with the Data Protection Act or its subsidiary regulations, nor is it a valid license for an organisation to operate In Kenya,” he added. To this end, it is clear that Worldcoin was only issued a data controller certificate that did not grant any authority to collect iris data from Kenyans. However, the company harvested this crucial biometric information, after which the affected Kenyans received slightly over $54 worth of World tokens. “There is a divergence between mere registration and operationalisation in conformity to the law. Registration does not imply that a company operating in Kenya has been given authority to behave in a manner that it deems appropriate,” Owalo clarified. What will happen to the already collected biometric data? According to Owalo, in May this year, the Kenyan government instructed Worldcoin to cease collecting iris data. The directive was followed by a crackdown in August by multiple agencies, including the ODPC and the Communications Authority of Kenya (CA), to halt operations in the country after the issue gained widespread media coverage. The Kenyan government has sought preservation orders from the courts to facilitate the completion of the ongoing investigation into Worldcoin’s activities. Several agencies are conducting the assessment. This will ensure that Worldcoin is obligated to preserve all personal data of Kenyans collected during the operation. The results of this investigation will be presented in parliament next week.
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Entering Tech #37: From interns to influencers, internship tales worth telling
Behind every Nigerian tech influencer is an internship period. 09 || August || 2023 View in Browser Brought to you by Issue #37 From interns to influencers Share this newsletter Greetings ET people IIn this edition of Entering Tech, we’re diving into an exciting and rapidly evolving realm of the professional world: internships This is a two-part piece written by Oluwatoyosi Adebusuyi, a storyteller at Reneé PR, a Nigerian tech PR agency. It’ll explore the myriad ways in which internships in the tech sector can propel you towards success. We also delve into inspiring stories of individuals who have leveraged tech internships to unlock their potential and pave the way for their future endeavours. Whether you’re a student aiming to gain practical skills or a career changer exploring new avenues, this edition offers insights, guidance, and a deeper understanding of the transformative power of internships by Pamela Tetteh and Timi Odueso. Tech trivia Some tech trivia to get the brain juices flowing. Which major tech company is known for its internship programme called “The Summer of Code”? Which famous tech entrepreneur started as an intern at Hewlett-Packard (HP) and later co-founded a billion-dollar company? How internships work Centuries ago, what we now know as internships were called apprenticeships, informal systems of learning designed to help young enthusiasts develop skills under trade masters’ guidance. Today, internships hold even more significance, especially for recent graduates, entry-level professionals and people looking to switch careers. Internships present invaluable opportunities to get hands-on experience, making them a popular choice for people venturing or transitioning into new careers. Today, the tech industry is a major attraction for professionals across various fields, with 89% of career changers lured by better financial prospects, as reported by CNBC. Internships provide these individuals with vital skills to elevate their careers, seize more promising opportunities and ultimately increase their income. While certifications and degrees are valuable for launching new careers in tech, real-world experience is vital for career growth. In Nigeria’s thriving tech industry, many talents kick-started their careers through internships, achieving remarkable feats and influencing the industry’s trajectory. In this edition of Entering Tech, we explore the awe-inspiring success stories of Nigerian tech professionals who began their journeys as interns and have now achieved remarkable heights in their careers. Through their remarkable experiences, we have gained profound insights into the impact internships have on Nigeria’s tech industry, underscoring how these opportunities can turn ambitious dreams into reality. How internships have helped techies Unemployment poses a big challenge in Nigeria, as an estimated 1.8 million individuals join the job market annually, competing for a limited number of jobs. A report by Stears Insight highlights a concerning trend where uneducated Nigerians stand a higher chance of finding employment than their educated counterparts. With Nigerian universities churning out approximately 500,000 graduates each year, the demand for practical experience further complicates entry into the workforce. Olabinjo Adeniran However, amidst these challenges, opportunities abound for those who approach the job market strategically. Olabinjo Adeniran, a growth and product marketing professional, experienced his breakthrough in the tech industry during his first year at the University. This was made possible through a social media internship opportunity with Mark Essien, founder/CEO of Hotels.ng. Prior to this, Binjo managed a consumer tech blog’s social media for two years, gaining a substantial following. Impressed by his performance, Mark believed Binjo could replicate this success at Hotels.ng. According to Adeniran, he carefully prepared for the interview with Essien to maximise his chances of getting the job. “Prior to my interview with Mark, I conducted extensive research, arriving with well-prepared notes and ideas for their social media strategy,” he said. Similarly, Jesimiel Williams, a multi-disciplinary designer, refused to be another unemployed Nigerian graduate. While in secondary school, he acquired basic programming skills from a website designer his mother worked with. Upon gaining admission into Covenant University to study Mass Communications, he secured an internship at Lara.ng, an AI tool designed for Lagosians to find the fastest way to reach their destinations. By the time he graduated, he had accumulated over three years of valuable work experience. Jesimiel Williams Ajiri Omafokpe, a senior product designer at Kora is another remarkable example of people who monetised their passion while in the University. Despite her initial doubts about turning her Power point design skills into a design career, an internship opportunity with a designer in her third year changed everything and led her to pursue design as a career. Sometimes, all it takes is one internship In June 2023, Nigeria was ranked first in the continent and second globally with the most hardworking workers. The average employee in Nigeria spends forty hours a week in a 9-5 job, and those in informal work settings may work up to fifty to sixty hours weekly. Despite these high numbers, a significant portion of the country’s population remains unemployed. In April 2023, the unemployment rate reached 41%, intensifying the competition for limited job openings. In this tough environment, people embrace the survival-of-the-fittest mindset by refining their skills to stand out in the job market. Internships are instrumental in this pursuit, as they offer practical experience that enhances employability. Engaging in an internship can lead to three potential outcomes: discovering a sense of fulfilment and choosing to pursue that career path, realising that a particular direction is not suitable for you, or finding a new passion. Regardless of the result, the experience provides clarity and insights that contribute to personal and professional growth. During his internship at Lara.ng, Jesimiel had the opportunity to work on multiple projects, exploring different areas such as design, data, marketing, product management, and content writing. As he delved into these areas, he discovered that his true calling lay in design, creative writing, and marketing, skills that he now wields in a comprehensive role as the Creative Director at Stutern. Hecredits his internship at Lara.ng for shaping his career trajectory. He said, “In my first month, I was torn between screenwriting, digital art, merchandise,
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