A first-time fund manager is raising ₦100 billion to fund Africa’s data infrastructure gap
I first met Samuel Efosa-Austin, the chief technology officer of a Lagos-based health insurance startup, at a class for venture capital enthusiasts. As we learnt about venture capital fundamentals, he wasted no time in telling the class about his one-year plan to raise ₦100 billion for his fund, the ECO fund, to back companies trying to solve Africa’s data infrastructure gap. His approach to raising a fund in local currency and his focus on data projects piqued my interest. For many years, the topic of raising capital in local currency has been discussed in Africa’s venture capital industry, but very few have embarked on it. Those in favour of raising capital locally, like Efosa-Austin, often rely on the logic that raising capital from local backers reduces the pressure of FX mismatch (when startups that raise in dollars struggle to provide exits due to exchange rate fluctuations) and keeps the rewards for African innovation within the continent. “This fund is our proof of concept. If we show that you can raise in naira, build a resilient data infrastructure, and generate both social and financial returns, we unlock a whole new asset class for African capital,” Efosa-Austin said. But it will not be easy. When you ask investors to give you long-term capital in local currency, you are asking them to be exposed to unpredictable devaluation. The venture capital industry is famously high-risk and high-reward, and asking investors to fund a risky asset class that can see returns eroded by 50–70% in dollar terms over the fund’s life is a tough ask. Next Wave: Ghana just showed Africa a future of venture capital There’s also a shallow limited partner (LP) base of investors willing to take venture capital risk, especially as pension funds and insurance funds rarely invest in local private capital. Some startups also prefer to raise in dollars because they have essential dollar-based costs like cloud bills, but Efosa-Austin told me that his fund will only invest in companies that have costs in naira and is relying on a growing wave of global companies accepting local currencies for services. “What I hope this fund demonstrates is simple, but powerful. Africa can fund its future in its currency; that verified data is infrastructure, not overhead; and that impact and returns are not opposites. They’re a flywheel,” Efosa-Austin said. For this week’s column, I spoke with Efosa-Austin to understand how far he has gone with fundraising, why he decided to embark on this journey, what success looks like for him, the importance of local capital, his investment track record, and ideal investments. This interview has been edited for length and clarity. What inspired you to raise a naira-denominated fund focused specifically on data infrastructure? The inspiration for this fund came from years of navigating the digital and economic terrain in Africa and realising one fundamental truth: Africa cannot build a sovereign digital economy without owning its data infrastructure. We’ve seen firsthand how innovation, talent, and even funding exist in pockets across sectors—health, agriculture, fintech, and governance—but they consistently hit a wall. That wall is the lack of verified, local, and trusted data infrastructure. The push for a naira-denominated fund was not a financial tactic; it was a strategic necessity. Too many of our innovations are built on infrastructure we don’t own and are funded by capital that doesn’t understand our context. This fund is a deliberate pivot to local capital, local control, and local value capture. The target multiple on the fund is 4X as businesses that will be funded will be vetted by the management team and board of advisors of the fund as due diligence is key to ensure safety of funds and potential of returns. Was there a particular event that convinced you that local capital was the key to unlocking this space? There wasn’t one “event”—there were systemic breakdowns. The talent gap: Brilliant young Nigerians trained in AI and data science, with nowhere to deploy locally. The carbon gap: Africa holds carbon sink value but lacks the verification infrastructure to monetise it. The mindset gap: Our economies continue to wait for foreign validation before investing in their innovation. In short, we realised we cannot outsource the infrastructure of the future. We must fund it ourselves with our currency, with our conviction. [newletter] How far along are you in raising the fund? We are currently in active discussions with several potential LPs like family offices with a legacy interest in nation-building and innovation, corporate institutions exploring ESG-aligned investments, and development finance institutions (DFIs) with a mandate to scale climate and civic infrastructure, and we are preparing to engage state-backed pension fund managers who are under pressure to diversify portfolios in impactful local assets. These conversations are progressing intentionally. This isn’t a numbers game. It’s about curating the right LP base that understands Africa’s infrastructure timelines, respects local dynamics, and shares our belief in data as a long-term utility. What has been the biggest challenge in convincing local capital providers to back data infrastructure projects? Perception and legacy thinking. Most local capital providers still see data as a “tech product” or “software idea”, not a backbone infrastructure like roads or energy. They don’t yet grasp that verified data systems—data centres, edge networks, civic platforms—are utilities, not luxuries. There’s also a high-risk perception, rooted in decades of failed IT projects or imported platforms with little local ownership. Part of our work has been education and reframing. We are showing the commercial potential of verified data, the economic impact of localised platforms, and the durability of civic technology infrastructure. What has your personal investment or operating track record been in this space? I didn’t wake up one day and decide to raise a fund. This is the result of over a decade of building, failing, learning, and rebuilding in Africa’s digital economy. I’ve been on the ground, building platforms like The ECO Platform, which isn’t just another civic tech tool. It’s an AI-powered, verified data engine designed to map and solve real
Read MoreMaxAB-Wasoko makes first post-merger move with acquisition of Egypt’s Fatura
In its first post-merger move, MaxAB-Wasoko, the B2B e-commerce giant formed from the 2024 merger between Kenya’s Wasoko and Egypt’s MaxAB, has acquired Fatura, an Egypt-based B2B e-marketplace, from EFG Finance. The deal is a fresh push to consolidate retail and supply chain technology across African markets. As part of the acquisition, EFG Finance has become a key shareholder in MaxAB-Wasoko and sits on the company’s board. The value of the transaction was not disclosed. The acquisition deepens MaxAB-Wasoko’s footprint in Egypt, where Fatura has built an asset-light digital marketplace connecting over 626 wholesalers to retailers in 16 cities, according to a statement seen by TechCabal. Five of those cities will be added to MaxAB-Wasoko’s network. With Fatura fully integrated, the company claims its retail platform offers a broader product assortment and regional coverage. “The acquisition of Fatura is more than a growth play,” said Belal El-Megharbel, CEO of MaxAB-Wasoko. “It’s the realisation of our ambition to become the go-to, one-stop shop for retailers throughout Africa.” The deal marks the first strategic move by MaxAB-Wasoko since both companies completed an all-stock merger in August 2024, which created one of Africa’s largest B2B commerce platforms, jointly led by MaxAB’s Belal El-Megharbel and Wasoko’s Daniel Yu. At the time, the companies promised to use their combined strengths to build a regional player to tackle fragmented supply chains and widen access to financial tools for small retailers. Unlike MaxAB-Wasoko’s supply chain-heavy model, which controls distribution end-to-end, Fatura runs an asset-light marketplace connecting suppliers to retailers. It also has a history of fintech operations under Tanmeyah, an EFG Holding subsidiary. MaxAB-Wasoko plans to layer its embedded financial services into the Fatura network, including credit access for stock purchases. Fatura is projected to contribute around 25% of MaxAB-Wasoko’s Egypt revenue by the end of 2025. Get the best African tech newsletters in your inbox Country Afghanistan Albania Algeria American Samoa Andorra Angola Anguilla Antarctica Antigua and Barbuda Argentina Armenia Aruba Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bosnia and Herzegovina Botswana Bouvet Island Brazil British Antarctic Territory British Indian Ocean Territory British Virgin Islands Brunei Bulgaria Burkina Faso Burundi Cambodia Cameroon Canada Canton and Enderbury Islands Cape Verde Cayman Islands Central African Republic Chad Chile China Christmas Island Cocos [Keeling] Islands Colombia Comoros Congo – Brazzaville Congo – Kinshasa Cook Islands Costa Rica Croatia Cuba Cyprus Czech Republic Côte d’Ivoire Denmark Djibouti Dominica Dominican Republic Dronning Maud Land East Germany Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia French Southern Territories French Southern and Antarctic Territories Gabon Gambia Georgia Germany Ghana Gibraltar Greece Greenland Grenada Guadeloupe Guam Guatemala Guernsey Guinea Guinea-Bissau Guyana Haiti Heard Island and McDonald Islands Honduras Hong Kong SAR China Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Jamaica Japan Jersey Johnston Island Jordan Kazakhstan Kenya Kiribati Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libya Liechtenstein Lithuania Luxembourg Macau SAR China Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Marshall Islands Martinique Mauritania Mauritius Mayotte Metropolitan France Mexico Micronesia Midway Islands Moldova Monaco Mongolia Montenegro Montserrat Morocco Mozambique Myanmar [Burma] Namibia Nauru Nepal Netherlands Netherlands Antilles Neutral Zone New Caledonia New Zealand Nicaragua Niger Nigeria Niue Norfolk Island North Korea North Vietnam Northern Mariana Islands Norway Oman Pacific Islands Trust Territory Pakistan Palau Palestinian Territories Panama Panama Canal Zone Papua New Guinea Paraguay People’s Democratic Republic of Yemen Peru Philippines Pitcairn Islands Poland Portugal Puerto Rico Qatar Romania Russia Rwanda Réunion Saint Barthélemy Saint Helena Saint Kitts and Nevis Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa San Marino Saudi Arabia Senegal Serbia Serbia and Montenegro Seychelles Sierra Leone Singapore Slovakia Slovenia Solomon Islands Somalia South Africa South Georgia and the South Sandwich Islands South Korea Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Swaziland Sweden Switzerland Syria São Tomé and Príncipe Taiwan Tajikistan Tanzania Thailand Timor-Leste Togo Tokelau Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Tuvalu U.S. Minor Outlying Islands U.S. Miscellaneous Pacific Islands U.S. Virgin Islands Uganda Ukraine Union of Soviet Socialist Republics United Arab Emirates United Kingdom United States Unknown or Invalid Region Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Wake Island Wallis and Futuna Western Sahara Yemen Zambia Zimbabwe Åland Islands ?> Gender Male Female Others TC Daily Events <!– Next Wave –> <!– Entering Tech –> Subscribe The combined entity, which is valued at over $500 million, now operates in Egypt, Kenya, Tanzania, Rwanda, and Morocco, supports a network of 450,000 merchants and serves an estimated 65 million consumers. Wasoko exited Zambia, Uganda, and Zanzibar shortly before the merger. While the new company still hasn’t announced a formal name, it appears to have settled on Wasoko-MaxAB. The combined entity told the TechCabal in August 2024 that it planned to complete the integration of the two platforms and staff within 60 days of the deal.
Read More
Jumia’s Q1 2025: More orders, less money, tougher market
This is Follow the Money, our weekly series that unpacks the earnings, business, and scaling strategies of African fintechs, e-commerce, telcos, and financial institutions. A new edition drops every Monday. Jumia is losing less money; this is good. But Jumia is also making less money, which is bad in a market where competitors are scaling aggressively with deep pockets and subsidised models. This raises a key question: Is the e-commerce giant on the path to profitability or just survival? According to Jumia’s Q1 2025 financial report, revenue fell to $36.3 million in Q1, a 26% year-on-year decline (18% in constant currency). Yet it also posted its lowest after-tax loss since its 2012 launch, and reiterated its target of achieving profitability by 2027. The numbers reveal a central tension in Jumia’s current strategy: while losses are shrinking, so is the revenue. The company is cutting costs, but the more urgent question is what it’s cutting — and whether that tradeoff is sustainable in the face of rising competition and a high inflation rate. Leaner, but not necessarily stronger To get closer to profitability, Jumia has slashed marketing spend, exited unprofitable markets like South Africa and Tunisia, and shifted focus from high-margin Business-to-Business transactions to everyday, low-ticket consumer purchases. It’s also doubling down on cost-effective channels like Search Engine Optimisation (SEO), Customer Relationship Management (CRM), local radio, and the JForce agent network — its grassroots sales force targeting rural and underbanked populations. “We are getting more business-to-consumer (B2C) orders now, and even though the revenue might not be as large, at the end of the day, it is translating into a cleaner balance sheet for us,” a Jumia spokesperson told TechCabal. The company also highlighted solid performance in Côte d’Ivoire, Ghana, and Kenya, in addition to its largest market, Nigeria. But this leaner strategy is unfolding amid a fiercer battlefield, one where Jumia no longer faces just local or regional competition, but global platforms like Temu operating at a scale and subsidy level it may not match. The Temu effect Temu, a Chinese e-commerce giant, is fast becoming Jumia’s most disruptive challenger. With ultra-low prices, a direct-to-consumer shipping model, and a massive marketing budget, Temu is not just competing — it’s reshaping the rules of the game. “Jumia’s path to profitability appears challenging due to a lack of clear catalysts for growth,” said Oluwatobi Akapo, a former business development manager at Jumia Nigeria. “Increased competition in Nigeria and economic headwinds like high inflation and currency devaluation in Egypt complicate matters.” Temu’s model connects African consumers directly to Chinese manufacturers, bypassing local intermediaries, and relies on Chinese state-subsidised shipping and a vast manufacturing ecosystem to drive prices down. While deliveries can take 10 to 15 days, the cost advantage is often too large to ignore. Is faster delivery enough? Jumia’s logistics are among the most robust on the continent, with same-day or two-to-five-day delivery across most Nigerian cities. Temu, on the other hand, often takes up to two weeks. But consumers are making calculated tradeoffs. Temu, which started operating in Nigeria in November 2024, often sells the same category of products for 30–70% less than Jumia. A Bluetooth earpiece priced at ₦15,000 ($9.35) on Jumia might cost just ₦8,000 ($4.99) on Temu — shipping included. “I bought a smartwatch on Temu for ₦11,000 ($6.86) at a discount price that would’ve cost me almost ₦20,000 ($12.47) on Jumia,” said Ibukun Adebayo, a student in Osun state. “It took 15 days, but I planned ahead. I’d do it again.” This kind of logic is hard to combat with speed alone. In non-urgent categories like fashion, electronics accessories, and household goods, Jumia’s logistics edge becomes a nice-to-have, not a decisive factor. Jiji: The informal contender While Jumia and Temu duel in the formal e-commerce space, Jiji — a classifieds platform — is dominating the informal end. Jiji claimed over $50 billion in Gross Merchandise Value (GMV) across seven African markets in 2024, up from $10 billion the year before. These figures reflect listing values, not completed transactions, but they signal a shift in consumer behaviour. Jiji appeals to budget-conscious buyers by enabling direct negotiation with sellers over WhatsApp or in-person meetings, especially for high-ticket items like electronics, furniture, and vehicles. In contrast, Jumia’s GMV dropped four percent to $720.6 million across its nine markets. That drop highlights a critical reality: Jumia’s competition isn’t just coming from global tech giants — it’s also coming from local platforms operating entirely outside the traditional e-commerce value chain. Mixed fortunes across markets Jumia’s regional performance shows diverging trends. Marketplace revenue dropped 30% to $18.1 million and first-party sales declined 21% to $17.8 million, driven by corporate demand softening and steep currency depreciation in Egypt. Nigeria, however, continues to offer hope. Jumia is expanding into northern Nigeria, where e-commerce penetration is still relatively low. Orders from outside major cities now account for 58% of total volume, up from 50% a year ago — a sign of real traction in rural areas. Jumia also launched a new business line: Jumia Delivery, a third-party logistics service in Nigeria. The company plans to scale it to Kenya, Ghana, and Senegal. It’s a strategic move to diversify revenue beyond its core e-commerce operations — and potentially unlock more margin-efficient growth. But whether this logistics play can scale without soaking up capital remains to be seen. More orders, less value Jumia processed 5.1 million orders in Q1, a 12% increase from the previous year. But average order value fell, and GMV declined 11% to $161.7 million. That drop reflects a deliberate shift toward smaller purchases — a volume game. “It’s a classic tradeoff: high-ticket items for high-frequency, low-ticket transactions,” said Lagos-based analyst Abimbola Adewale. “It’s a retention bet.” That bet may be paying off as Jumia’s repurchase rate rose to 45% in Q4 2024, up from 40% a year earlier — a sign of increasing customer stickiness. But sustaining that momentum requires ensuring the customer experience doesn’t degrade as costs are cut. Speed vs price:
Read MoreBolt tested inDrive’s fare negotiation model in Nigeria; here’s how that went
Caught between mounting driver demands for lower commissions and the growing popularity of inDrive’s fare-negotiation model, Bolt quietly piloted a “negotiate” feature in select Nigerian cities from November 2024 to February 2025. The feature, which allowed riders and drivers to agree on fares upfront, aimed to address persistent complaints about opaque pricing and shrinking driver earnings. But after a few months, the company shelved the experiment, with “no plans to introduce the negotiate feature more broadly.” “At Bolt, we’re constantly exploring new ways to improve the rider and driver experience across our markets,” a Bolt spokesperson told TechCabal in an email response. “Between November 2024 and February 2025, we conducted a limited-time pilot of a fare negotiation feature to better understand how flexible pricing models might impact user experience and platform dynamics.” The test comes after the ride-hailing platform introduced a flexible pricing system in May 2024, allowing passengers to offer higher fares to drivers to increase their chances of getting rides during periods of high driver demand. Bolt’s decision to drop the negotiate feature suggests the pilot failed to meet the company’s internal benchmarks. Possible internal metrics may have included user adoption rates, rider and driver satisfaction, impact on trip completion times, changes in average fare, and overall platform safety and security. If the negotiate feature did not improve key metrics, or worse, led to more disputes, longer wait times, or increased off-app transactions, Bolt would have little reason to proceed. With drivers already informally negotiating fares, the company likely concluded that formalising the process offered limited benefits and introduced new risks, especially around pricing consistency and platform safety. “My assumption is that the feature didn’t solve the problem the way they imagined it, and it also doesn’t impact revenue,” said Ayodeji Audu, a Lagos-based mobility analyst and co-founder of EV mobility company Reown. Get the best African tech newsletters in your inbox Country Afghanistan Albania Algeria American Samoa Andorra Angola Anguilla Antarctica Antigua and Barbuda Argentina Armenia Aruba Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bosnia and Herzegovina Botswana Bouvet Island Brazil British Antarctic Territory British Indian Ocean Territory British Virgin Islands Brunei Bulgaria Burkina Faso Burundi Cambodia Cameroon Canada Canton and Enderbury Islands Cape Verde Cayman Islands Central African Republic Chad Chile China Christmas Island Cocos [Keeling] Islands Colombia Comoros Congo – Brazzaville Congo – Kinshasa Cook Islands Costa Rica Croatia Cuba Cyprus Czech Republic Côte d’Ivoire Denmark Djibouti Dominica Dominican Republic Dronning Maud Land East Germany Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia French Southern Territories French Southern and Antarctic Territories Gabon Gambia Georgia Germany Ghana Gibraltar Greece Greenland Grenada Guadeloupe Guam Guatemala Guernsey Guinea Guinea-Bissau Guyana Haiti Heard Island and McDonald Islands Honduras Hong Kong SAR China Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Jamaica Japan Jersey Johnston Island Jordan Kazakhstan Kenya Kiribati Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libya Liechtenstein Lithuania Luxembourg Macau SAR China Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Marshall Islands Martinique Mauritania Mauritius Mayotte Metropolitan France Mexico Micronesia Midway Islands Moldova Monaco Mongolia Montenegro Montserrat Morocco Mozambique Myanmar [Burma] Namibia Nauru Nepal Netherlands Netherlands Antilles Neutral Zone New Caledonia New Zealand Nicaragua Niger Nigeria Niue Norfolk Island North Korea North Vietnam Northern Mariana Islands Norway Oman Pacific Islands Trust Territory Pakistan Palau Palestinian Territories Panama Panama Canal Zone Papua New Guinea Paraguay People’s Democratic Republic of Yemen Peru Philippines Pitcairn Islands Poland Portugal Puerto Rico Qatar Romania Russia Rwanda Réunion Saint Barthélemy Saint Helena Saint Kitts and Nevis Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa San Marino Saudi Arabia Senegal Serbia Serbia and Montenegro Seychelles Sierra Leone Singapore Slovakia Slovenia Solomon Islands Somalia South Africa South Georgia and the South Sandwich Islands South Korea Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Swaziland Sweden Switzerland Syria São Tomé and Príncipe Taiwan Tajikistan Tanzania Thailand Timor-Leste Togo Tokelau Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Tuvalu U.S. Minor Outlying Islands U.S. Miscellaneous Pacific Islands U.S. Virgin Islands Uganda Ukraine Union of Soviet Socialist Republics United Arab Emirates United Kingdom United States Unknown or Invalid Region Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Wake Island Wallis and Futuna Western Sahara Yemen Zambia Zimbabwe Åland Islands ?> Gender Male Female Others TC Daily Events <!– Next Wave –> <!– Entering Tech –> Subscribe Bolt’s fare negotiation was widely seen as a calculated response to mounting pressure from drivers over its 20% commission and a perceived lack of platform support. Drivers have staged repeated protests against Bolt and Uber in major cities, including coordinated strikes in Lagos and Abuja since 2021, demanding lower commissions. The feature was also introduced in response to growing competition from inDrive, which surged in popularity in 2023—due to shrinking customer pockets and fuel hikes—by capitalising on its simple, cash-based, negotiable fare model. The company, which launched in Nigeria in 2019, has attracted many price-sensitive riders and drivers who want flexibility. However, Bolt still retains the lead in Nigeria with a 66% market share, according to Queva Advisory, a Nigerian management consulting firm. “I would have loved it if the negotiate feature was left permanent. It is something we’ve been asking for,” said Celestine Finbar, a Lagos-based Bolt driver who has used the platform for over four years. “After they slashed commissions, we were barely surviving. Negotiation gives us more control, like we’re finally being heard.” Pricing remains the biggest priority for ride-hailing customers in Lagos, regardless of new features. “If I can negotiate on both Bolt and inDrive, my decision still comes down to whichever is cheaper and closer,” said Muktar Oladunmade, a frequent user of both platforms. Globally, alternative ride-hailing models are gaining traction. In India, ride-hailing startup Namma Yatri has prompted Uber and Bolt to introduce a subscription-based system, where drivers pay a fixed daily fee instead of
Read MoreUBA makes agent banking comeback with 46,000 PoS terminals
United Bank for Africa (UBA) Plc, one of Nigeria’s biggest banking groups, is making a comeback in Nigeria’s booming Point of Sales (PoS) payment market by rolling out 46,000 upgraded terminals to win back small businesses and retail merchants increasingly served by fintechs. Once a major player in the country’s PoS market, UBA is now racing to reassert itself amid rising competition from fintechs like Moniepoint, OPay, and PalmPay. The group has deployed over 6,000 Redpay PoS terminals since January 2025, with another 40,000 expected in the coming months. In 2024, Nigeria’s PoS market processed ₦79.5 trillion ($49.7 billion) in transactions, up from ₦2.3 trillion ($1.44 billion) in 2018, according to the Nigeria Inter-Bank Settlement System (NIBSS). That 3,356.5% surge has largely been driven by fintechs, who built extensive agent networks and won merchants over with instant settlements, faster devices, and flexible onboarding. However, with Redpay, UBA has engineered a catch-up, combining the speed of fintechs with the trust and reliability of a bank. For many merchants, that hybrid may be a better long-term value proposition. “Merchants commend the terminals’ ease of use, transaction speed, 100% success rate for transfers, and enhanced visibility,” Olukayode Olubiyi, UBA’s head of digital banking, said in an email to TechCabal. “They added that flexibility and reliability have significantly improved their daily operations.” Omobolanle Salami, a Lagos-based merchant who sells perfumes, told TechCabal that since switching to UBA’s free terminal in February from Moniepoint, she can now easily monitor transactions and perform settlements remotely via her laptop or phone – a crucial improvement for the retailer. “While Moniepoint allows on-terminal transaction viewing, Redpay offers the added convenience of remote access,” Salami said. “This transaction visibility empowers me to make better business decisions, such as allocating more products to specific stores and advising customers on banks with less downtime for transfers.” Get the best African tech newsletters in your inbox Country Afghanistan Albania Algeria American Samoa Andorra Angola Anguilla Antarctica Antigua and Barbuda Argentina Armenia Aruba Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bosnia and Herzegovina Botswana Bouvet Island Brazil British Antarctic Territory British Indian Ocean Territory British Virgin Islands Brunei Bulgaria Burkina Faso Burundi Cambodia Cameroon Canada Canton and Enderbury Islands Cape Verde Cayman Islands Central African Republic Chad Chile China Christmas Island Cocos [Keeling] Islands Colombia Comoros Congo – Brazzaville Congo – Kinshasa Cook Islands Costa Rica Croatia Cuba Cyprus Czech Republic Côte d’Ivoire Denmark Djibouti Dominica Dominican Republic Dronning Maud Land East Germany Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia French Southern Territories French Southern and Antarctic Territories Gabon Gambia Georgia Germany Ghana Gibraltar Greece Greenland Grenada Guadeloupe Guam Guatemala Guernsey Guinea Guinea-Bissau Guyana Haiti Heard Island and McDonald Islands Honduras Hong Kong SAR China Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Jamaica Japan Jersey Johnston Island Jordan Kazakhstan Kenya Kiribati Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libya Liechtenstein Lithuania Luxembourg Macau SAR China Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Marshall Islands Martinique Mauritania Mauritius Mayotte Metropolitan France Mexico Micronesia Midway Islands Moldova Monaco Mongolia Montenegro Montserrat Morocco Mozambique Myanmar [Burma] Namibia Nauru Nepal Netherlands Netherlands Antilles Neutral Zone New Caledonia New Zealand Nicaragua Niger Nigeria Niue Norfolk Island North Korea North Vietnam Northern Mariana Islands Norway Oman Pacific Islands Trust Territory Pakistan Palau Palestinian Territories Panama Panama Canal Zone Papua New Guinea Paraguay People’s Democratic Republic of Yemen Peru Philippines Pitcairn Islands Poland Portugal Puerto Rico Qatar Romania Russia Rwanda Réunion Saint Barthélemy Saint Helena Saint Kitts and Nevis Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa San Marino Saudi Arabia Senegal Serbia Serbia and Montenegro Seychelles Sierra Leone Singapore Slovakia Slovenia Solomon Islands Somalia South Africa South Georgia and the South Sandwich Islands South Korea Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Swaziland Sweden Switzerland Syria São Tomé and Príncipe Taiwan Tajikistan Tanzania Thailand Timor-Leste Togo Tokelau Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Tuvalu U.S. Minor Outlying Islands U.S. Miscellaneous Pacific Islands U.S. Virgin Islands Uganda Ukraine Union of Soviet Socialist Republics United Arab Emirates United Kingdom United States Unknown or Invalid Region Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Wake Island Wallis and Futuna Western Sahara Yemen Zambia Zimbabwe Åland Islands ?> Gender Male Female Others TC Daily Events <!– Next Wave –> <!– Entering Tech –> Subscribe Another merchant in Lagos, Dhikrulahi Hammed, who uses Opay, Moniepoint, and Redpay terminals, claimed that Redpay offers greater flexibility and security on the go. “Redpay’s remote transaction monitoring on phones/laptops is a significant advantage for security and tracking earnings to prevent discrepancies,” said Hammed, who deals in the sale of electronics. He added that even though Moniepoint also allows monitoring, Redpay’s remote mobile access when away from the shop is a key differentiator. According to UBA, the new Redpay terminals have processed over ₦25 billion ($15.6 million) in transaction value since January, with adoption especially strong among SMEs in urban and peri-urban areas. “Although retail merchants such as supermarkets and pharmacies are also benefiting from improved transaction reliability and uptime,” Olubiyi said. UBA’s PoS rollout comes at a time when the gap between traditional banks and fintechs is widening in customer satisfaction. A 2024 KPMG report ranked fintechs ahead of banks across various stages of the customer journey, especially in transaction speed, platform reliability, and feature variety. UBA is betting that a more integrated solution—one that pairs payments with banking services—can bridge that gap. “Redpay combines a user-friendly interface with backend inventory and store management, all tied into UBA’s wider retail ecosystem,” said Onyebuchi Akosa, the group’s chief information officer. “We also offer the trust, reach, and regulatory stability that many fintechs can’t replicate.” Security is another key focus. With fraud on the rise across PoS platforms, UBA says its new devices are Payment Card Industry Data Security Standard (PCI-DSS) compliant
Read More
Next Wave: Ghana just showed Africa a future of venture capital
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 18 May, 2025 Ghana just showed Africa a future of venture capital Image | Digit Insurance It is all about pension funds. Towards the end of last month, Ghana became the first African country to mandate that local pension funds invest at least 5% of their assets in domestic private equity and venture capital firms. With over $6.7 billion in pension deposits, this directive could unlock a $337 million funding pool for Ghanaian firms by the end of 2026. Ghana is not the only African country with laws linking pension funds to private capital; countries like Nigeria, Botswana, and South Africa also have regulations that cap how much pension funds can allocate to alternative investments. However, these caps have largely failed to incentivise actual investment. Many African pension portfolios remain heavily skewed toward government bonds and bank deposits, prioritising capital preservation and liquidity. Ghana faced a similar challenge; despite allowing up to 25% of pension assets to be invested in alternative funds, only 0.58% was allocated before the recent directive. Ghana has shifted the equation entirely by making something go from permissible to mandatory. The question is no longer whether pension funds can invest in innovation; what happens when they do? What could go right? The potential benefits of Ghana’s directive are massive. In 2023, South Africa’s government raised the cap on private equity from 10% to 15% of a retirement fund’s portfolio and created a separate 45% bucket for infrastructure investment. Within a year, local pension & endowment funds increased their commitments to local private capital from $216 million to $344 million [pdf], leading to a surge of investments in SA’s struggling energy sector. Next Wave continues after this ad. Moonshot is back, and this year, it’s about moving from resilience to results. With the theme Building Momentum, the 2025 edition explores how Africa’s digital economy can shift gears into scale, structure, and long-term growth. Expect more honest reflections, sharper insights, closed-door roundtables, and conversations that don’t end when the panels do. Watch the 2024 highlights. Early bird discount now available Reserve your spot here! If Africa’s ten largest pension funds similarly mandated Ghana-style floors rather than caps, over $13 billion would flow into Africa’s venture capital industry within five years, tripling the continent’s 2024 VC haul. When competent fund managers have enough money to invest in the best businesses, compelling evidence shows that it creates jobs, deepens capital markets, and generates returns. In America, the home of Silicon Valley’s tech giants, EY found that private equity supports more than 26 million U.S. jobs and 5% of America’s $27 trillion GDP. In emerging markets, the effects have been even more pronounced. According to this study, which pooled data from emerging economies across 16 years, a 10% increase in pension-funded assets equals a 0.5% increase in GDP yearly. For African countries that have experienced slow GDP growth, that extra half-point compounds into a noticeably larger economy in just one decade. Pension funds, which invest in local currency, could also slash FX-benchmarked exit expectations for businesses that earn in local currency. The past couple of years have seen some of the sharpest devaluations in Africa’s biggest markets, leading to several startups struggling to warrant further investment given underwhelming dollar performance. Next Wave continues after this ad. Nigeria’s digital payment space is evolving fast. Are you keeping up? Our latest report highlights key shifts, challenges, and opportunities across the country’s payments ecosystem. Donwload the report now. Local money also picks the best local ideas. African VC firms have turned to foreign DFIs for capital because, unlike their global counterparts, they have limited access to funding sources like pension and endowment funds. Without this alliance, Africa’s private capital markets will be much smaller. Still, it has also led to fund managers being incentivised to back business models that might not translate into viable business models on the continent but help serve the DFI’s mandate. Pension funds, which have a fiduciary responsibility to millions of pensioners, will ideally pick fund managers with a demonstrated pattern of finding the best businesses. Imagine if Moniepoint were funded by a pension fund. Allocating even a small portion of long-term institutional capital to private markets can yield outsized benefits for innovation. It funds new ventures, accelerates the commercialisation of R&D, and enables startups to scale locally rather than being forced to seek capital abroad. In 1979, the U.S. clarified the “prudent man” rule, allowing pension plans to invest in risky assets like venture capital. In the eight years that followed, pension funds’ share of U.S. venture capital funding surged from around 15% to over 50%. This influx of capital played a pivotal role in igniting the Silicon Valley boom and a wave of transformative technological innovation. African pension funds tend to mostly back government-issued bonds or fund bank deposits, and while these investments are low-risk, they are also low-reward. Private capital can be a way to diversify the pension fund’s portfolio, and the potential outsized returns are a good return stream. In the U.S., private equity achieved the highest 10-year returns of any asset class for 165 U.S. pension funds. Even though private capital is riskier in isolation, in a multi-asset portfolio, a small allocation can reduce overall volatility by spreading investments across different asset classes. The added benefit that pension funds investing in the local private capital market presents by making fundraising easier for fund managers abroad alone is worth consideration. One investor told me that general partners often get asked why local capital is not backing the continent’s venture capital industry when they raise money abroad. Pension fund investing would signal confidence and
Read MoreCan Nigerian courts handle AI-generated evidence? Lawyers say it’s inevitable
Artificial intelligence (AI) is redefining daily life, and Nigeria’s legal system is struggling to keep up. With the rise of AI-generated content like ChatGPT essays, deepfake videos, and algorithmic trading, a critical question has emerged: how can AI-generated evidence be treated in a Nigerian court of law? While Nigerian courts are yet to tackle their first AI-generated evidence case, South Africa faced its AI-related legal misstep in January 2025. A South African lawyer, Ms. S. Pillay, came under scrutiny after allegedly submitting court documents that included fictitious case law generated by an AI tool. This incident sparked a broader debate about the responsibilities of lawyers using AI, highlighting the need for stricter checks to prevent such errors. Nigeria’s legal framework for digital evidence Nigeria’s 2011 Evidence Act already recognises electronically generated evidence, a category broad enough to include AI-generated content. Section 84 of the Act sets the conditions for admitting computer-generated evidence, including reliability and proper storage. However, this law was crafted in an era when “digital” meant emails, PDFs, and CCTV footage, not hyper-realistic deepfakes or AI-generated content. Nigerian lawyers are sounding alarms about an immediate threat: the admissibility of AI-forged evidence in a legal system still grappling with basic digital forensics. “Our laws are very archaic right now,” says Queen-Esther Ifunanya Emma-Egbumokei, a corporate lawyer specialising in international commercial law and the creative economy. Bernard Daniel Oke, who specialises in intellectual property rights, data protection and privacy, and media, explains that the most critical requirement is proper authentication. He notes that digital evidence “must be properly authenticated and shown to be reliable such that it emanates from the right device, untampered and proper foundation being laid.” The party presenting the evidence must convincingly show that it originated from the device or source they claim. This authentication process is essential because, without it, the court cannot determine if the evidence is genuine or relevant to the case at hand. This authentication isn’t limited to AI-generated content alone. Content on platforms like WhatsApp, Instagram, and Slack can now be edited, which raises a critical concern about how Nigerian courts will verify the authenticity of potentially manipulated digital evidence on these platforms. “The implication of edited messages on social media platforms being tendered in evidence can be inadmissible for being tampered with,” Oke explains. “ Tampered evidence is inadmissible in evidence.” The implication is that any sign that an electronic message, screenshot, or document has been edited, manipulated, or otherwise changed can render it inadmissible. The law is clear: tampered evidence is not to be trusted and will likely be rejected by the court. However, there’s a potential workaround. Tolu Adeyemi, a dispute resolution lawyer, explains that while computer-based evidence is generally inadmissible in court, it can be accepted if supported by oral evidence or a certificate of authenticity from the person operating the device. She says the certificate of authenticity is one that “complies with the requirements of Section 84 of the Evidence Act.” The requirements state that the document tendered was “produced by a computer during a time when the computer was regularly used to store or process information; that the computer, phone in this instance, was operating properly at the relevant time; [and] that similar information to what was tendered was regularly inputted in the computer; that the document was produced from information given to the computer in the ordinary course of activities.” Nigerian courts have no specific legal tests for detecting AI-generated evidence. Lawyers agree that the burden falls on the parties: if one party claims a piece of evidence is fake or AI-generated, they must present contrary evidence or expert testimony to prove their case. “The court isn’t an investigator, it wouldn’t go on a frolic of its own to determine if the evidence is true or not, it just judges based on what is placed before it and whatever is not contradicted or opposed is deemed admitted,” Adeyemi says. The gaps and the future: Nigeria’s legal lag While Section 84 of Nigeria’s Evidence Act 2011 mandates certificates of authenticity for electronic records, Hauwa E. Amuneh, a corporate and commercial lawyer, notes critical gaps: “Nigeria isn’t versed with the forensics department, and detection [of AI-generated evidence] would either take longer or come at a high cost.” As Amuneh points out, if evidence has been altered by one of the parties editing a message, it is up to the parties to prove or disprove authenticity, often relying on additional evidence, expert witnesses, or cross-examination in court. Oke advises that since messages on these platforms can only be edited within a few minutes of being sent, “a party who notices such editing can contest the edited content and seek clarification in the same chat immediately such alteration is noticed, to avoid future arguments. In law, equity aids the vigilant and not the indolent.” He adds that a party can keep screenshots of original messages and have them backed up “as evidence against a party for future reference, especially since the disappearing messages feature is also a possibility”. AI disputes in Nigeria: It’s not a matter of if, but when Despite the growing use of AI, none of the lawyers interviewed have encountered a Nigerian court case directly involving AI-generated evidence. While AI-related disputes are already cropping up globally, Nigeria is yet to enact targeted legislation or develop forensic capacity to address these challenges. “As for AI-related [legal] disputes, we already have those,” Emma-Egbumokei says. “ Not in Nigeria, of course, but there are ongoing legal disputes all over the world concerning AI.” Oke and Adeyemi echo Emma-Egbumokei’s view, saying they predict that AI-related disputes will inevitably reach Nigerian courts in the next few years as the technology becomes more deeply integrated into everyday life. “I believe there will be disputes in the intellectual property aspect, as a lot of people create works, inventions from what AI has fed to them,” says Adeyemi. Need for legal reforms If anything, there is an urgency for updates in the Nigerian
Read MoreThis South African AI-powered edtech helps students land top jobs
In a country grappling with about 32% unemployment rate and a drop in tech hiring activity due to a persistent skills mismatch, finding a job in South Africa’s competitive tech industry can feel like a long shot. While universities continue to produce graduates, many enter the job market lacking the practical, in-demand skills that employers need. This skills mismatch means it often takes graduates six to twelve months to secure employment, if they can at all. But Zaio, a local edtech startup, addresses this issue head-on by integrating career placement into its core model, not as an afterthought, but as the outcome, helping students secure jobs in top companies. Founded in 2017, Zaio provides intensive, bootcamp-style training programs to equip learners with in-demand skills. The institute offers courses in data analysis, machine learning, and web development, along with a newly launched cybersecurity program—all lasting six to seven months and priced at around R30,000 ($1660). Zaio also provides shorter, specialised training options, including micro developer bootcamps and an AI for office professionals course, each costing approximately R10,000 ($550), with options for installment payments. Since January 2025, Zaio has successfully placed 131 of its students in various roles across nine South African provinces, with a near-even gender split of 63 women and 68 men. Zaio trains between 600 to 800 students per year, of which 90% are young people—claiming an 80% course completion rate. Mvelo Hlophe, Zaio CEO, told TechCabal that this success lies in Zaio’s placement-first approach and proactive career facilitation. “Our training is directly aligned with industry demand, ensuring that our graduates leave with job-ready skills that companies are actively hiring for,” he said. Zaio’s graduates have secured positions in top organisations such as First National Bank, Absa, Girl Hype, and Africa Inspired Foundation, as well as emerging tech firms like Torho Technologies and Ecolabs. “Zaio’s bootcamp truly changed my life,” said Mpho Lawrence Buthelezi, a web development graduate from Zaio. “Not only did I gain the skills and knowledge needed to succeed, but its strong industry connections helped me land a job with a top AI company, a role perfectly aligned with my goals.” Zaio’s extensive network of industry placement partners plays a crucial role in bridging the gap between education and employment for young tech professionals in South Africa. “Our strongest commitment is that we guarantee an interview for every learner who completes our program,” adds Hlophe. “That is only possible because of the robust network of placement partners we have built within the tech ecosystem, and we consistently have companies looking to hire our graduates.”. How Zaio uses AI to help students complete their courses to secure jobs In 2023, as artificial intelligence’s influence grew, South African educators expressed concerns that tools like ChatGPT would unleash a wave of academic dishonesty, and genuine learning would take a back seat. It was that time, when Zaio took its bet to build on existing models like OpenAI to provide AI-assisted and personalised learning. “Initially, using AI was to reduce the need for constant tutor interaction, especially to beginners who often encountered numerous errors while learning to code, particularly during late-night study sessions when tutors were unavailable,” said Asif Hassam, Zaio’s CTO. That early experiment evolved into a sophisticated AI-assisted learning platform. Today, Zaio combines human support with AI, providing real-time feedback, progress tracking, and adaptive coding challenges. This inclusive philosophy has helped Zaio attract a diverse pool of learners. Dakalo Sadiki, another graduate, said, “Before joining Zaio, I knew absolutely nothing about coding, not even what HTML looked like. Today, I have grown into an advanced developer, building websites, AI projects for top clients.. Zaio did not just teach me how to code, it gave me the tools and the network to build a future I never thought possible.” Zaio operates in a competitive landscape of coding bootcamps and digital skills academies focused on job-ready training. Institutions like Zaio’s main competitors are HyperionDev, WeThinkCode_, and CodeSpace, as one of the leaders in the space. While several institutions in South Africa offer tech training similar to Zaio, Hlophe claims, unlike many institutions that require prior qualifications or technical experience, it removes entry barriers for even tech starters, with no age limit. “We believe coding is for everyone,” says Asif. “Our curriculum starts from the ground up, designed for absolute beginners with no background in tech.” To set itself apart, Zaio has also established the Africa Inspired Foundation (AIF), which aims to provide high-quality training in rural areas with an ambitious goal of training 10,000 youths in rural areas by 2030. What Zaio is betting big on In 2024, South Africa’s edtech market generated $928.7 million, with 61% of that revenue coming from the K–12 (basic education) segment. Despite the dominance, Zaio is placing its bets on higher education and corporate upskilling markets, two segments expected to explode in the coming years as e-learning platforms, virtual classrooms, and the demand for workplace-ready talent intensifies. Zaio addresses the pressing demand for skilled tech professionals such as full-stack developers and data analysts, which remain among the most sought-after tech roles in South Africa for 2025. Zaio is moving towards a learning system that adjusts to each student’s needs, where the curriculum shifts in real time to match each learner’s speed and skill level. By using data analytics, it tracks engagement, pinpoints common struggles, and tailors lessons to individual needs for a more personalised education experience. “We track how learners engage with the material and identify common bottlenecks,” explained Asif Hassam, Head of Product at Zaio. “This allows us to deliver a more personalized and effective learning experience for each individual.” Looking ahead, Zaio’s ambitions extend beyond South Africa. The team envisions a future where African developers are globally sought after and where Zaio is the training ground that powers job creation. “We want talent emerging from the African continent to be globally competitive,” said Hlophe. “If a hiring manager anywhere in the world is looking for a developer, and Africa becomes their
Read More
TechCabal Daily – Cell C eyes IPO
In partnership with Lire en Français اقرأ هذا باللغة العربية Good morning! How was your weekend? It was a weekend of many firsts: English football club Crystal Palace lifted their first trophy. I am particularly excited because that win meant Man City will end the season trophyless for the first time in eight years! That’s soothing considering their run of domination in England. Yes, I am a big hater. If football is not your jam, Nollywood film ‘My Father’s Shadow’ made history as the first Nigerian film selected for the Cannes Film Festival. Here’s to kicking off the week with something new. – Faith Cell C could go public on the Johannesburg Stock Exchange (JSE) $50 to register for BVN? The new normal for Nigerians in diaspora Facebook wants to scan your face to know if it’s really you World Wide Web 3 Job Openings Telecoms Cell C could go public on the Johannesburg Stock Exchange (JSE) Image Source: Google Companies go public all the time—sometimes to raise cash, sometimes for more technical or strategic motives. For Cell C, South Africa’s fourth-largest telecom operator, the incentive is more structural. On May 16, its parent company, Blue Label Telecoms, announced that it is considering listing Cell C on the Johannesburg Stock Exchange (JSE) as part of a sweeping restructuring. The plan centres on converting Cell C’s debt into equity, reducing its financial burden while increasing Blue Label’s stake (Blue Label would offer up the debt Cell C owes in exchange for getting equity.) It also involves transferring airtime assets and bringing Cell C’s postpaid business fully in-house. Blue Label says this move will make Cell C stronger, more independent, and ready for life as a standalone public company. In 2017, 9mobile, a Nigerian telecom firm, once attempted a debt-to-equity swap with creditors (banks) but failed. For Cell C, the stakes are high. It has spent years battling financial woes, from technical insolvency to major asset write-downs. It recently pivoted to a leaner, asset-light model instead of owning its telecom infrastructure. In 2023, Cell C started leasing infrastructure from competitor MTN in a bid to drive down costs, and so far, this has worked. The company’s finances steadied again after major revenue climbs last year, and in the half-year period ending November 2024, it was profitable again. Cell C has not been consistently profitable since 2021. Going public could put Cell C under new pressure to maintain order in its house. Yet, for the JSE, a Cell C listing would be a win. Despite solid financials, the exchange has struggled with more companies leaving than joining. In 2023, 11 companies delisted from the JSE. And by March 2024, two more companies had already exited the bourse. Cell C’s debut could signal that South Africa’s capital markets are open for new business. The JSE currently lists six telecom companies, including the top three players: MTN, Vodacom, and Telkom. While Cell C still trails far behind its competitors, a listing could increase its visibility and familiarity with retail investors as well as raise capital. With its newfound efficiency, the telecom company could get a real shot at the top three. Seamless Global Payments With Fincra. Issue accounts in NGN, KES, EUR, USD & more with one integration. Send & receive funds seamlessly across borders; no more banking hassles or complex conversions. Create an account for free & go global today. Get the best African tech newsletters in your inbox Country Afghanistan Albania Algeria American Samoa Andorra Angola Anguilla Antarctica Antigua and Barbuda Argentina Armenia Aruba Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bosnia and Herzegovina Botswana Bouvet Island Brazil British Antarctic Territory British Indian Ocean Territory British Virgin Islands Brunei Bulgaria Burkina Faso Burundi Cambodia Cameroon Canada Canton and Enderbury Islands Cape Verde Cayman Islands Central African Republic Chad Chile China Christmas Island Cocos [Keeling] Islands Colombia Comoros Congo – Brazzaville Congo – Kinshasa Cook Islands Costa Rica Croatia Cuba Cyprus Czech Republic Côte d’Ivoire Denmark Djibouti Dominica Dominican Republic Dronning Maud Land East Germany Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia French Southern Territories French Southern and Antarctic Territories Gabon Gambia Georgia Germany Ghana Gibraltar Greece Greenland Grenada Guadeloupe Guam Guatemala Guernsey Guinea Guinea-Bissau Guyana Haiti Heard Island and McDonald Islands Honduras Hong Kong SAR China Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Jamaica Japan Jersey Johnston Island Jordan Kazakhstan Kenya Kiribati Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libya Liechtenstein Lithuania Luxembourg Macau SAR China Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Marshall Islands Martinique Mauritania Mauritius Mayotte Metropolitan France Mexico Micronesia Midway Islands Moldova Monaco Mongolia Montenegro Montserrat Morocco Mozambique Myanmar [Burma] Namibia Nauru Nepal Netherlands Netherlands Antilles Neutral Zone New Caledonia New Zealand Nicaragua Niger Nigeria Niue Norfolk Island North Korea North Vietnam Northern Mariana Islands Norway Oman Pacific Islands Trust Territory Pakistan Palau Palestinian Territories Panama Panama Canal Zone Papua New Guinea Paraguay People’s Democratic Republic of Yemen Peru Philippines Pitcairn Islands Poland Portugal Puerto Rico Qatar Romania Russia Rwanda Réunion Saint Barthélemy Saint Helena Saint Kitts and Nevis Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa San Marino Saudi Arabia Senegal Serbia Serbia and Montenegro Seychelles Sierra Leone Singapore Slovakia Slovenia Solomon Islands Somalia South Africa South Georgia and the South Sandwich Islands South Korea Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Swaziland Sweden Switzerland Syria São Tomé and Príncipe Taiwan Tajikistan Tanzania Thailand Timor-Leste Togo Tokelau Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Tuvalu U.S. Minor Outlying Islands U.S. Miscellaneous Pacific Islands U.S. Virgin Islands Uganda Ukraine Union of Soviet Socialist Republics United Arab Emirates United Kingdom United States Unknown or Invalid Region Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Wake Island Wallis and Futuna Western Sahara Yemen Zambia Zimbabwe Åland Islands ?> Gender Male Female Others TC Daily
Read More
10 people share how they use AI in their everyday lives
Ever used ChatGPT to fix your resume at midnight? Or asked an AI tool to outline your next client pitch? You’re not alone. Artificial intelligence (AI) isn’t just for coders and researchers anymore. It’s already part of daily life, helping people write, plan, strategise, and reflect. To understand the uses of AI, we asked 10 professionals and creatives across several cities how they’re incorporating AI into their routines. Their answers might surprise you and even give you a few ideas. Uses of AI shared by everyday people 1. Tobi – Brand strategist using AI for proposals and brainstorming Location: NigeriaProfession: Brand & Business Strategist When the creative well runs dry, Tobi leans on AI to flesh out brand strategies, build client proposals, and spark new ideas. “I use ChatGPT-4 because it feels like it already understands how I think. I don’t need to provide too much context anymore, it’s become a creative partner.” Why it matters: Once you train your prompts well, AI can become a reliable extension of your brain, especially for tasks that require structure and creativity. 2. Mo – Talent manager building competency frameworks Location: LagosProfession: Talent Manager Mo used AI to create a complete competency framework for an entire department, which would’ve taken hours to build from scratch. “It makes your job seamless. Just plug in what you want and get a starting point instantly.” Why it matters: Structured HR work, like planning, documentation, and evaluations, becomes much quicker with the correct prompts. 3. Jessa – Job seeker saving on resume writing Location: AbujaProfession: Unemployed Jessa uses AI to write and tailor her resumes to different job roles, cutting out the need to pay for professional writing services. “It gives me answers fast. No need to dig through countless websites or pay for help.” Why it matters: Job hunting is tough enough. If AI can help save both time and money, that’s a win, especially when you’re between roles. 4. Gigi – Digital marketer targeting new audiences Location: ZambiaProfession: Digital Marketer Gigi used AI to define the right audience for a cleaning business and to polish up client emails. “I use Gemini. The research depth and sources it gives me are out of this world.” Why it matters: Whether you’re working on strategy or communication, AI helps marketers stay sharp and save time on research. 5. Nwachukwu – Investment banker creating polished presentations Location: LagosProfession: Investment Banker Nwachukwu uses AI daily, from enhancing PowerPoint decks to streamlining complex documents. “I use Claude and Premium ChatGPT. I honestly don’t think I could go back to doing things the old way.” Why it matters: Even in industries where precision is key, AI can help speed up workflows without sacrificing quality. 6. Naya – Dietician simplifying health data analysis Location: AbujaProfession: Dietician at a wellness and fitness tech startup From scoring food databases to writing group texts, Naya uses AI to move faster, though she still edits for accuracy. “I’m scoring foods for health conditions. AI helps a lot, even if I have to fix a few things here and there.” Why it matters: AI mustn’t be perfect to be useful. When paired with your expertise, it becomes a time-saver, not a replacement. 7. Daniel – Visual designer generating images and presentations Location: LagosProfession: Visual Designer Daniel uses various tools from ChatGPT to ImageFX to design visuals, write copy, and create stunning presentations in less time. “AI helps me skip the stock image hunt. That alone saves hours of effort.” Why it matters: If you’re a creative professional, AI can speed up the parts you hate so you can focus on the parts you love. 8. Ada – Entrepreneur using AI for content and self-discovery Location: AbujaProfession: Entrepreneur & Civil Servant Ada drafts social media posts, rewrites reports, and even explores life goals, all with the help of AI. “AI has insights that reflect who I am. It’s become a tool for self-discovery.” Why it matters: AI isn’t just about tasks but also reflection, strategy, and growth. 9. Imran – Frontend developer speeding up backend work Location: LagosProfession: Frontend Developer Even though Imran works in frontend development, he uses AI to handle backend tasks in Node.js, helping him meet deadlines faster. “With AI, I complete backend tasks earlier than expected.” Why it matters: Developers can save hours by offloading boilerplate or complex logic brainstorming to AI tools. 10. Honour – Finance manager learning and communicating with AI Location: LagosProfession: Finance Manager From crafting LinkedIn posts to studying for ICAN, Honour uses AI to make learning easier and communication faster. “It gives me what I need quickly, but I’ve also seen it get some answers wrong.” Why it matters: AI can enhance productivity, but double-checking its work is still essential, especially for technical or academic tasks. You might also like: How I use ChatGPT, other Generative AI tools to work smarter Final thoughts These stories show that the uses of AI go far beyond coding or automation. AI has a role to play in your world if you’re a job seeker, designer, strategist, or just trying to get things done faster. And now it’s your turn: How do you use AI? What tasks has it helped you simplify, speed up, or completely transform?
Read More