Next Wave: How edtech accelerators can shape the future of work in Africa
Cet article est aussi disponible en français <!– In partnership with –> <!–TopBanner Join us for TechCabal Battlefield, Moonshot’s startup competition where you can showcase your startup idea to a global audience and an esteemed panel of judges and stand a chance to win up to 2.5 million naira in funding for your business! Click to register for TC Battlefield First Published 23 June, 2024 Africa, projected to supply the world’s largest share of future workers by 2100, is at a critical juncture. With the United Nations forecasting its population to nearly quadruple to over four billion by the century’s end, Africa’s share of the global workforce is set to soar. By 2050, the continent is poised to contribute 23% of the world’s workers, rising to 45% by 2100. To harness this immense potential, the continent’s education technology (edtech) needs to advance significantly. However, funding constraints have hampered edtech’s recent growth. Despite enjoying a peak funding year in 2021, attracting $81 million in investments, the number of funded tech companies in Africa fell from 29 in 2021 to just 23 the following year as the global economy stabilised post-COVID. The growth of edtech in Africa has been slow due to reluctance of many traditional venture capitalists(VCs) who are more “concerned with financial returns than social returns“. Investment in edtech startups in the last seven years. Chart by Stephen Agwaibor, TC Insights Additional challenges include a limited access to digital tools for the population and a lack of essential infrastructure, such as reliable electricity necessary to support the growth of edtech solutions. Furthermore, a significant portion of Africa’s population faces challenging macroeconomic conditions impacting their ability to afford even basic on-site education. These challenges notwithstanding, UNESCO has recognised Africa as a burgeoning hub for edtech. While funding has slowed, the sector is projected to grow at a compound annual growth rate (CAGR) of 9.1% by 2026, reaching an estimated value of $457.8 billion. Many innovators are optimistic about the breakthroughs in e-learning tools and digital infrastructure. The role of accelerators in edtech growth in Africa Accelerators play a pivotal role in the startup ecosystem by providing models, funding, and mentorship that enable startup founders to validate, test, and achieve product-market fit for their models. This approach has proven critical to helping startups develop strong and clear pathways to monetise their products and become profitable. Globally, there are numerous use cases of accelerators driving edtech growth. For instance, K12, an edtech accelerator programme in the US, has helped to launch more than 70 companies, which have collectively raised over $150 million in funding. In Australia, EduGrowth organises events and workshops where edtech startups can showcase their products. Inspired by such models, countries like Nigeria are beginning to take notes, with organisations like the Mastercard Foundation stepping in to expedite edtech’s progress on the continent. Since its inception, the Mastercard Foundation has deployed approximately $3.7 billion to drive equitable access to learning for young people, primarily in Africa, in line with its vision of a world in which everyone has an opportunity to learn and prosper. In 2019, the Foundation established the Mastercard Foundation Centre for Innovative Teaching and Learning, which focuses on unlocking the power of technology to deliver learning to all young Africans. Next Wave continues after this ad. Expand your business to new markets with the Sabi Market app. Set up your online store, reach new buyers, make and receive payments and manage your inventory in a few steps. Click here to download the app. In 2020, the Foundation launched an edtech fellowship programme to support African-led companies. The first cohort of the Mastercard Foundation EdTech Fellowship accelerated 12 fellows from seven African countries. By 2023, in response to heightened demand for edtech solutions during the COVID-19 pandemic period, the Foundation—in partnership with CcHUB in Nigeria, iHub in Kenya and Injini in South Africa—accelerated 36 edtech companies. In 2024, five additional tech hubs are implementing the accelerator programme. In addition to the existing three, there are EtriLabs in Benin and Senegal, EdVentures in Egypt, Sahara Consult in Tanzania, Reach for Change in Ethiopia, and MEST Africa in Ghana. The fellowships provide selected founders in the edtech sector with access to equity-free funding, business advisory support, and access to courses to help them scale and build impact. By nurturing homegrown solutions that address local needs and affordability concerns, the programme will be key to unlocking edtech’s potential in Africa. Edtech in Africa stands at a critical juncture. While traditional VC funding remains scarce, accelerators offer a lifeline. By fostering innovation, affordability, and local relevance, these programmes can empower African edtech to fulfil its transformative promise and increase access to technology-enabled, relevant, and all-inclusive learning across the continent. Today’s edition of Next Wave was contributed by Eliud Chemweno, e-learning lead at the Centre for Innovative Teaching and Learning, Mastercard Foundation. Feel free to email joseph.olaoluwa[at]bigcabal.com, with your thoughts about this edition of NextWave. Or just click reply to share your thoughts and feedback. We’d love to hear from you Psst! Down here! Thanks for reading today’s Next Wave. Please share. Or subscribe if someone shared it to you here for free to get fresh perspectives on the progress of digital innovation in Africa every Sunday. As always feel free to email a reply or response to this essay. I enjoy reading those emails a lot. TC Daily newsletter is out daily (Mon – Fri) brief of all the technology and business stories you need to know. Get it in your inbox each weekday at 7 AM (WAT). Follow TechCabal on Twitter, Instagram, Facebook, and LinkedIn to stay engaged in our real-time conversations on tech and innovation in Africa. If you liked this edition of Next Wave, please share with your friends. And feel free to reply with thoughts and feedback. We welcome those. 18, Nnobi Street, Surulere, Lagos, Nigeria View in Map You received this email because you signed up on our website or made purchase from us.If you know longer
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Exclusive: Nigerian Banks begin payment of $132 million USSD debt to telcos
₦200 billion. That’s how much Nigerian banks owe telecom companies for using Unstructured Supplementary Services Data (USSD) banking. That debt has been a source of friction between banks and telcos for six years and has needed the intervention of the Central Bank and the Communications Commission. After a meeting in late 2023 produced a payment plan, three people with direct knowledge of the matter said the banks have now begun paying the debt. The Central Bank governor Olayemi Cardoso played a role in pushing the banks to pay, they said. However, payment has been slow, according to Gbenga Adebayo, president of the Association of Licenced Telecommunication Operators of Nigeria (ALTON). “If you look at the number, it is not going down,” Adebayo told TechCabal. “The ₦200 billion, which consists of the principal sum and the interest is likely to rise if the payment continues to drag.” “We believe that our friends in the banks can do better than what they are doing.” The snail’s pace of repayment is one way the banks are sticking it to telcos, one person claimed. “There was no agreement between the banks and telcos about sharing USSD fees from the beginning. The banks only discovered the telcos were interested in the fees when they started to threaten to cut the service,” said a bank CEO who asked not to be named so he could speak freely. “There is no such thing as an obligation due from banks to telcos,” said Herbert Wigwe, the late CEO of Access Holdings during a 2021 investor call. Other bank executives question how telcos arrived at the debt figure, insisting there’s little transparency around the billing process. In 2023, GTCO’s Segun Agbaje argued the responsibility for collection should fall to telcos since the entire ₦6.98 fee per transaction goes to them. While regulators have forced banks to collect and remit the fees to telcos, the banks appear to be pushing back by slowing the pace of payments. USSD was originally built by telecom companies to provide airtime and subscriptions to customers, but it quickly became obvious that banking was a strong use case. Unlike mobile banking, customers don’t need the internet or smartphones to use USSD. The great push to USSD began, with banks like GTCO launching splashy marketing campaigns for their *737 shortcode in 2016. Other big banks followed suit. In 2021, Nigerians sent ₦5.1 trillion via USSD. That figure declined to ₦4.4 trillion by 2022 Although USSD remains the country’s fifth most used payment channel, it has the lowest spend-per-transfer (₦10,000) while the industry average for other channels (mobile app, online transfer) is ₦70,000, per National Bureau of Statistics data. Ultimately, the telcos argue that USSD is an important channel for banking and that banks should collect and remit the applicable fees. However, given that the banks do not make any money from USSD and the payment values are relatively small compared to mobile banking, they’re incentivised to deprioritise it. “If you want financial inclusion, then you need to bring down the cost of data. And when you bring down the cost of data, you start to eradicate USSD,” Agbaje argued in 2023. With more security concerns as the industry fights fraud, USSD is no longer a priority for Nigerian banks and it may further slow the pace of payments towards the debt. “It (the debt) won’t get resolved so the telcos need to let it go,” said a bank expert who chose to remain anonymous. It is a position many bank executives hold.
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Data debacle: Unauthorised websites offer NIN verification despite NIMC blacklist
Two websites selling the personal information of millions of Nigerians, idfinder.com.ng and championtech.com are still operational two days after the country’s Identity Management Commission (NIMC) confirmed they were unlicenced. After media reports on Friday, NIMC blacklisted five “data harvesters” illegally collecting the personal information of Nigerians. Despite the blacklist, one of those websites, championtech.com.ng was active on Monday afternoon, checks by TechCabal showed. The website allows users to verify National Identification Numbers (NIN) and buy data and cable subscriptions. A second website, idfinder.com.ng is still online, but has restricted new user signups. On Friday, a TechCabal article detailed how AnyVerify sold personal data for ₦190 (13 cents). AnyVerify’s website was taken down following that report. Two other websites, trustyonline and verify.ng have also been taken down. The existence of unlicensed personal data verification websites raises questions about data privacy and the management of NIMC’s database. In March 2024, XpressVerify, an unauthorized website, also sold the personal information of millions of Nigerians before it was taken down. Despite these incidents, NIMC insisted licensed partners or vendors are not authorised to scan or store NIN slips but to verify NINs through approved channels. *This is a developing story
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JAMB announces 2024 cutoff mark release date and more
The Joint Admissions and Matriculation Board (JAMB) is gearing up for its policy meeting on admissions, scheduled for July 18th, 2024. This session will set the stage for determining the JAMB cutoff mark 2024, which plays a vital role in the admission process for tertiary institutions across Nigeria. If you missed JAMB’s bulletin last week, please see the summary of very important points here. Supplementary UTME and compliance issues Recently, JAMB conducted a supplementary Unified Tertiary Matriculation Examination (UTME) on June 21st and 22nd, 2024. This was important due to significant non-compliance issues observed at certain exam centres, affecting 28,835 candidates. Such measures are part of JAMB’s efforts to maintain standards and fairness in the examination process. Direct Entry (DE) registeration and verification For candidates applying through Direct Entry (DE) for the 2023/2024 academic session, JAMB has issued stringent guidelines. Only registrations at JAMB-designated offices (PRCs) are valid, and this is to ensure proper monitoring. Concerns regarding discrepancies in qualifications have led to 1,957 candidates being disclaimed by institutions and examination bodies. This is following a verification exercise by the Nigeria Postsecondary Education Data System (NIPEDS). Certificate verification advisory In preparation for the 2024 DE registration, JAMB has advised A-level certificate-awarding institutions to verify candidates’ qualifications rigorously. Institutions are mandated to upload applicants’ credentials during registration and verify them through the JAMB portal. Failure to comply may result in candidates being ineligible for admission consideration. Clarification on UTME scores and JAMB admissions cutoff mark for 2024 It is essential for candidates to understand that UTME scores may be a significant factor in the admission process. But they do not guarantee placement into tertiary institutions. JAMB has reiterated that there is no uniform UTME score (cut-off) applicable to all universities, polytechnics, or colleges of education nationwide. Admission decisions are multifaceted and consider various factors beyond just UTME performance. Final thoughts on JAMB cutoff mark 2024 As the education sector prepares for the 2024 admissions cycle, the determination of the JAMB cutoff mark 2024 during the upcoming policy meeting will be important. Candidates are advised to await official announcements post-meeting, as individual institutions will subsequently publish their specific cutoff marks and admission guidelines.
Read MoreFlutterwave lays off 3% of its workforce as it doubles down on enterprise and remittance
African payments giant Flutterwave has laid off about 30 people—around 3% of its workforce—three months after it spoke about repositioning its business to focus on remittance and enterprise, its two biggest revenue drivers. That change of focus led to the shutdown of Barter in March. Flutterwave confirmed the layoffs to TechCabal but did not share specific details of the affected teams. “After a thorough analysis of our strategic priorities, including a renewed focus on enterprise customers and remittances, we came to the conclusion that some roles within the organization are redundant,” Flutterwave told TechCabal in a statement. Employees were told about the layoffs at a town hall on Monday afternoon, two people with direct knowledge of the matter said. The impacted roles are connected to products the company is no longer pursuing, one person said. “We will pay an average 3 months of gross salary, depending on the country where the employee is based,” Flutterwave said. “We will also be monetising their unutilised accrued leave days.” In October, the fintech told TechCabal that enterprise was its biggest revenue driver while retail products had little contribution to revenues. “Since our founding eight years ago, we have not had to implement a workforce reduction plan, but it became a necessary step in this instance in order to align our current resources with our go-forward strategy and improve our operational efficiency.” After reshuffling some of its C-suit employees in 2024, Flutterwave revived conversations about a potential public listing that was put on ice in 2022 and 2023. “Right now our goal is to be IPO-ready, ensuring we have the right corporate governance in place, making sure we are operating well,” CEO Gbenga Agboola told Semafor in April 2024. “We want to be a long-term company in Africa, for Africa – and so the goal is building the right infrastructure to be here for the next ten-plus years.” *This is a developing story
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👨🏿🚀TechCabal Daily – Nigeria to screen travellers with new tech
In partnership with Share this newsletter: Lire en Français اقرأ هذا باللغة العربية Good morning In 2023, Moonshot by TechCabal sparked a global conversation, tackling the continent’s most pressing challenges with innovative solutions. This documentary dives into the heart of Moonshot 2023 and gives a glimpse of what’s to come in Moonshot 2024. Watch the full documentary and see how Moonshot is changing Africa. In today’s edition Nigeria lists five websites illegally mining citizens’ data SEC lays ground rule for faster VASP licence approval DR Congo’s biometric ID project faces cancellation Nigeria Immigration Service to screen travellers with new tech The World Wide Web3 Job openings Data NIMC lists five illegal data services websites This year alone, Nigeria’s digital ID authority, the National Identity Management Commission (NIMC), has had at least two data breaches linked to its partner agents—a debacle with XpressVerify in March 2024, and recently with Anyverify.com.ng last Thursday. These unlicensed “data service” providers were selling the personal information of millions of Nigerians—which they had bought from licensed agents—for a mere ₦190 ($0.12). With such sensitive details readily available, the safety and privacy of countless Nigerians were put at significant risk. In Faith Omoniyi’s report for TechCabal, an unnamed ethical hacker theorised that, “It is either the NIMC is doing a poor job at data protection by using cloud storage to store data or an insider is allowing individuals to retrieve data.” The second theory by the hacker might be a good point. In February, NIMC restored NIN verification after the World Bank claimed the process was vulnerable to data breaches. With the service restored, NIMC-licensed partners can allegedly make API calls to access data information of Nigerians and sell to sub-agents for profit without NIMC’s knowledge. The agency issued a statement on its public domains where it denied the claims, and assured Nigerians that no sensitive data was exposed. Part of the statement read, “The Commission have not authorised any website or entity to sell or misuse the National Identity Number (NIN) amongst all the identities stated in the report,” referring to Paradigm HQ’s report that first broke the news of the breach on Thursday. More bad actors: Following Anyverify.com’s ousting as an illegal data services website, NIMC’s statement drew attention to four other websites—idfinder.com.ng, verify.ng/sign-in, championtech.com.ng, and trustyonline.com—that harvested data of millions of Nigerians. All of them have now shut down to hide traces of their activities. But the real questions still remain: Why was the NIN Verification Service (NVS) recommissioned and why is the Commission allowing licenced agents to make API calls to its database? Process payments smoothly with Moniepoint And we’ll have processed almost 5,000 more by the time you’re done reading this. Your business payments can be one of them. Click here to sign up. Regulations SEC lays ground rule for faster VASP licence approval Nigeria’s crypto scene just got a jolt. The Securities and Exchange Commission (SEC) launched a surprise programme—the Accelerated Regulatory Incubation Program (ARIP)—for virtual asset service providers (VASPs), a.k.a. crypto exchanges. Under the SEC’s purview, VASPs are cryptocurrency service providers that facilitate the trading and safekeeping of virtual assets (excluding debt and equity digital assets) for other people (usually its users). An example of a VASP licence holder in Nigeria is Yellow Card—the crypto exchange platform. Typically, the procedure for a VASP license to become fully operative takes 10—13 weeks. However, with the new 30-day ARIP window already effective, companies that have already filed applications with the Commission prior, and those seeking to be registered as VASPs can obtain approval-in-principle, pending when the Digital Assets Rules [pdf] become operational. The cost of the ARIP programme, however, comes at the additional cost of a non-refundable ₦2,000,000 ($1,300) fee—plus the original ₦150,000,000 ($98,000) registration fee announced in March—for companies that want to cue in for this programme. Zoom out: The ARIP and increased fees could potentially weed out smaller players with malicious intent in the crypto space, centralising the market among well-funded entities. While this might enhance stability, it could also stifle innovation and limit access for everyday Nigerians. While the SEC frames this as a path to compliance, the rushed nature of the programme raises eyebrows. Is this a genuine attempt at creating a regulated crypto environment, or a hasty reaction to Nigeria’s crypto powerhouse which has accounted for over $50 billion in crypto transaction value since 2022? Issue USD and Euro accounts with Fincra Create and manage USD & Euro accounts from anywhere. Fincra allows you to issue accounts to your users, partners & customers to collect payments without the stress of setting up and operating a local account. Get started today. Data DR Congo’s biometric ID project faces cancellation The DR Congo has struggled with national identification for decades. The last issuance occurred in 1984 when the country was still known as Zaire. In 2023, DRC announced the launch of new biometric identification which attracted bids from industry giants such as Idemia, Thales, and Veridos. It was awarded to Afritech and French identity giant Idemia and was expected to cost $697 million. The big snag: The contract may be cancelled following allegations of financial misconduct. The Inspectorate General of Finance (IDF) is investigating possible contract inflation. Afritech’s founder, Samba Bathily, will not be allowed to leave DRC . DRC initially unveiled its plan to create a new population register and implement a biometric identification system in 2020. However, the project fell through at the time due to lack of funding. What do you want to see from Paystack in 2024? Paystack would love to hear from you! Let us know what improvements or new features you’d like to see from Paystack in 2024. Share your wishlist here → Economy Nigeria Immigration Service to screen travellers with new tech Nigeria has introduced a new technology called Advance Passenger Information (API) and Passenger Name Record (PNR) in Nigeria. This system connects with major global databases, including INTERPOL 24/7 and the Migration Information and Data Analysis System (MIDAS), to make
Read MoreBotswana nears highest unemployment rate since 2008 ahead of 2024 polls
At least two in ten Batswana are unemployed, despite claims by President Mokgweetsi Masisi in 2023 that his government created 100,000 jobs. Botswana’s unemployment rate is edging closer to its highest-ever figure since 2008. The Bank of Botswana’s 2023 annual report released this week says that although total employment figures rose from 717, 725 persons in 2022 to 788, 616 in 2023, the country’s economy is failing to create enough jobs for the expanding labour force. Youth unemployment has also increased from 33.5% in 2022 to 34.4% in 2023. Botswana unemployment rate climbed to 25.9% in 2023, according to the central bank’s 2023 annual report released this week. The figures suggest that the Southern African nation is at risk of hitting the 26.2% unemployment rate recorded during the 2008 financial crisis. President Masisi took office in 2018 on a promise to create “thousands of jobs.” In his last State of the Nation address in November 2023, he claimed to have created 100,000 jobs. The central bank’s figures dent President Masisi’s second term bid which has focused on appealing to the country’s youth electorate. Through numerous job creation initiatives like the P500 million ($37 million) Chema-Chema Fund, which funds entrepreneurial ventures, Masisi seeks to deliver the fleeting job creation promise. “Some of us have been unemployed since he took office and we are going to the next elections in the next few months and nothing has changed,” said Kagiso, an engineering graduate. Ahead of the general election in late 2024, President Masisi of the Botswana Democratic Party (BDP), which has been in power since independence in 1966 has made several references to the success of his government’s job promises. In a recent political campaign, Masisi said his government’s policies had proven efficient in “creating jobs and improving quality of life.” The government remains the largest employer in the country, with more than 18% of the country’s labour force. The country’s crown jewel, the mining industry, which accounts for 35% of GDP, only created 11,412 jobs or 1% of total employment in the country.
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Anyone can buy your Nigerian identity for ₦190 on this unlicenced website
AnyVerify, a website that claims to help businesses verify their customers, is selling the personal information of over 100 million Nigerians—including National Identification Number (NIN), Bank Verification Number (BVN), and Tax Identification number—despite being unlicensed by the country’s identity management commission (NIMC). For ₦190 (13 cents), AnyVerify will pull up an accurate profile of any Nigerian. It is the second time in a year that an unlicenced entity is offering the personal information of Nigerians for sale. In March 2024, the National Identity Management Commission (NIMC) denied claims that XpressVerify, a website selling personal information, was one of its licensed partners. An investigation by the Nigeria Data Protection Commission (NDPC) found NIMC’s security infrastructure compliant and indicated that the March breach was due to access abuse by an NIMC agent. Some persons were arrested over the incident, one person familiar with the matter said. A spokesperson for the NIMC denied the claims at the time. NIMC’s database is licensed to banks, fintechs, and other partners for a fee. AnyVerify is not a NIMC-licensed partner. It raises questions about how the website has access to the database. “We tested the website, archived it and could pay for NIN slips belonging to Bosun Tijani the minister of Communications, Innovation and Digital Economy and Vincent Olatunji, the commissioner of the NDPC,” said Gbenga Sesan, the executive director of Paradigm Initiative, a non-profit whose investigation first reported on the matter. Unlike NIMC and its partners, AnyVerify, which identifies itself as a verification tool, has no vetting process to identify bad actors. Users are required to submit their email addresses and NINs—the same data they intend to verify. After registration, users are presented with a wallet to fund with at least ₦400 before using the website. NIMC and Nigeria Data Protection Commission (NDPC) did not immediately respond to a request for comments. “It is either the NIMC is doing a poor job at data protection by using a cloud storage to store data or an insider is allowing individuals retrieve data,” said one ethical hacker who asked not to be named so they could speak freely. Launched in November 2023, AnyVerify was visited 567,990 times and 188,360 in February and April 2024 respectively, according to Paradigm Initiative. The data breaches come ten months after the National Identity Management Commission (NIMC) was moved to the Ministry of Interior from the Ministry of Communications, Innovation and Digital Economy.
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As President Ruto digs in on finance bill, protesters say there’s no turning back
President Ruto and members of the ruling Kwanza coalition say the matter of the finance bill is done. Ordinary Kenyans are just getting started. On Thursday, a lethal police response failed to break the resolve of OccupyParliament protests in Kenya’s capital, Nairobi. Thousands of Kenyans walked between rows of buildings on Kenyatta Avenue, chanting anti-government slogans. “Be gentle on our pockets,” said one person’s placard. “The fear is gone! Clouds are gathering,” read another. From the ribald to the stern, their state of mind is on these signs. They’re demanding the rejection of the 2024 Finance bill, braving police tear gas and water cannons. Despite the large turnout and the tide of public opinion, the ruling Kenya Kwanza coalition insists the new taxes will secure the country’s future. Their votes ensured the bill sailed through a second reading. “The matter of the finance bill is now over,” said Moses Wetangula, the speaker of Parliament, to other MPs. But Kenyans whose lives will be affected by those taxes disagree. “It won’t be business as usual. This time we will refuse to be slaves,” said Purity Kahumbi, a 26-year-old nursing graduate. She was passing around water to help other protesters wash tear gas. For her, this protest goes beyond the controversial bill. It’s a political awakening for a generation ignored by the ruling class. The involvement of young Kenyans, some as young as 14 has led to one publication branding the protests a “Gen Z March.” “We can do this for 365 days until they (MPs) learn to respect the people who sent them to parliament,” Kahumbi said. Police water canons block road leading to Kenya’s Parliament. PHOTO | TECHCABAL True to form, the protest will continue Tuesday, June 25 despite attempts from the police to break up the demonstrations. Instead of capitulating, more Kenyans from 17 regions are joining the wave. “I know the people here are more than the government expected. It’s because the finance bill affects all of us. The politicians and their families have all these nice things provided to them by the government: luxury cars, houses, and health insurance. For us, we have to work hard to survive,” said Inea Odhiambo, a 28-year-old insurance agent who lost his job in April. It’s playing out quicker than anyone could have predicted and what started as anger on popular social media platforms, X and TikTok, is morphing into calls for a revolt. Some say the President Ruto government is trivialising a serious political struggle. Next milestone ni Gen Z organising themselves and voting as a block. Watakuja kwa table na some strategic party kama Zuma. This week could be a turning point in our political landscape. Funny thing is very thick MPs still think these kids are joking & it is business as usual! — Mohamed Wehliye, MBS (@WehliyeMohamed) June 21, 2024 “If our elected leaders can’t represent us, we’ll represent ourselves. There’s no turning back. We can’t afford to sit back when a lot is at stake,” Kahumbi said. For Stephen Kimanzi, a 22-year-old IT graduate, the events of the past two months have been an eye-opener. “Sitting and doing nothing is like staying in a crumbling house expecting someone else to rescue you. There are no jobs, and yet Ruto is overtaxing us,” he said. Several people who spoke to TechCabal insist the government is overburdening them while they struggle to put food on the table. The government is unmoved. Ruto’s administration wants to raise $2.7 billion from the new taxes. It has put the government on a collision course with a young, educated but unemployed youth. OccupyParliament protesters on Nairobi’s Kenyatta Avenue. PHOTO | TECHCABAL President Ruto promised on the campaign trail in 2022 that he would reduce the tax burden on millions of Kenyans. The protesters argue that he has not kept the promise, and has doubled their tax burden. Despite introducing new taxes passed in 2023, the government missed its revenue targets by about $2.3 billion (KES300 billion). “My father is a potato farmer. He has been complaining how the new tax demands like e-tims and brokers have made business difficult for him,” Kimanzi said while ducking for safety from an incoming tear gas canister. “Do you expect me to sit back when people are out fighting for a better future?” he posed. Members of Parliament argue that some of the proposed taxes including a VAT on bread, a wealth tax on car owners, and excise duty on edible oil, have been scrapped. A plan to give the Kenyan Revenue Authority (KRA) unfettered access to people’s mobile money and banking details without a court warrant has also been paused. But only a complete stop to the bill will satisfy protesters The protests will resume next week on Tuesday when the bill is scheduled for a third reading. If it passes, it will be sent to the president for assent and become law. The protesters believe next week will rally more people as those who have been wishy-washy about the issue join. “I think from here it can only grow bigger. We know what we want. We are going for it,” Odhiambo said.
Read MoreUS lawmakers visit detained Binance executive in Kuje prison
Two US lawmakers, French Hill and Chrissy Houhalan have called for the immediate release of detained Binance executive Tigran Gambaryan after visiting him in Kuje prison on Wednesday, demanding that all charges against him be dropped. Gambaryan, a US citizen who has been detained since February, is facing charges of money laundering, and engaging in unlicensed financial activities. Last week, Nigeria’s Federal Inland Revenue Service (FIRS) dropped the tax evasion charges brought against Gambaryan and his colleague Nadeem Anjarwalla who escaped detention in March, making Binance the sole defendant. “We found him suffering from the conditions there, as he has malaria and double pneumonia, and he reports that he has lost significant weight. Even worse, he’s being denied access to adequate medical attention,” Hill wrote on X. The call for the release of the American citizen heightens political pressure surrounding his trial in Nigeria. Sixteen American lawmakers accused Nigerian authorities of holding the American citizen hostage. On June 6, Axios reported that a group of former prosecutors and federal agents in the US wrote to US Secretary of State Anthony Blinken, urging him to “step up” efforts to secure Gambaryan’s release. Although the tax evasion charges have been dropped and Binance made the sole defendant, Gambaryan will remain in custody as the money laundering charges by the Economic and Financial Crimes Commission (EFCC) are still pending, with a court ruling on the matter yet to be delivered. Through his lawyers, the Binance executive has petitioned an Abuja Federal High Court to order the Office of the National Security Adviser (NSA) and the Economic and Financial Crimes Commission (EFCC) to pay compensation costs for his prolonged detention in the country. “It is time for the Nigerian authorities to do the right thing and let my innocent husband go,” Gambaryan’s wife, Yuri was quoted to have said by her spokesperson.
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