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Hello, people. Welcome to today’s edition of TC Daily! If this mail was forwarded to you, please take a moment to subscribe and we’ll have this delivered directly to your mailbox.
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| A MESSAGE FROM OUR SPONSOR |
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| Ventures Platform in Partnership with the National Social Investment Program has launched Startup Nigeria 2019. The program supports innovative startups in Nigeria through funding, mentorship, and hands-on training! Startup Nigeria is open to individuals with innovative ideas & startups in 3 zones-North Central, South East, & North West. Apply now for a chance to receive up to N2M in funding at https://www.startupnigeria.ng/ |
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Spanish delivery startup, Glovo is expanding into Nigeria and Ghana. The company recently launched in Nairobi according to TechMoran and is currently operating in Ivory Coast and Morocco. It was also ordered to reopen in Egypt by the Competition Authority after it exited the country following an alleged collusion with Delivery Hero. Glovo has raised US$346 million to date with the latest round being a $169 million in April 2019 led by Lakestar. There’s been a surge in the number of transport startups launching in Nigeria this year. Singapore-based Gozem is also planning to launch within the next few years.
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Swvl, a Cairo-based transport startup is launching in Nigeria within the next few weeks. The company is currently recruiting for a Country Manager and plans to start off in the country with 50 buses. Swvl was founded in 2017 and it connects commuters with private buses. Nigeria will be the third country it will launch its operations after Cairo and Nairobi. Swvl raised US$30 million in November last year, led by BECO Capital and DiGAME, bringing its total funding to US$38.5 million.
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| Healthcare entrepreneurs, TechCabal has pulled together a stack of content just for you. Learn how to develop new product and services, the major pillars of growth and more. Want more? Download our report, “The State of Health Tech in Nigeria”, for a sector deep dive into challenges, opportunities and recommendations compiled especially for innovators, investors and regulators. Get it here. |
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Africa-focused messenger app, Dikalo has processed 1 million messages in the first week of June 2019. This is a major milestone for the Cameroonian startup which used to process the same amount every month. Launched in 2016, the startup is hoping to create a homegrown communications platform for Africa similar to China’s WeChat and India’s Hike Messenger. Facebook’s Messenger and Whatsapp are Africa’s most popular messaging apps.
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| MTN has launched a mobile money chatbot in Ivory Coast. The chatbot will be available via SMS and social media platforms making it easier for users to access MTN’s mobile money services. The telco plans to launch the service across Africa over the next few years. Earlier in the year, MTN launched a Whatsapp service that allows customers to buy airtime and data bundles. It also announced plans to launch a messaging app similar to WhatsApp and WeChat as it seeks to expand revenue from digital services and mobile money. |
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EFInA (Enhancing Financial Innovation & Access) is holding a webinar on the 17th of June about the Nigerian Fintech Landscape based on its ground-breaking report about the sector. The webinar will involve a conversation about the different sub-sectors in the space, the types of technologies fintechs use and how they enable financial inclusion. It will also discuss trends, challenges and recommendations for stakeholders. Register here.
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| Liberia blocked social media on Friday June 7, following protests by citizens about corruption in President George Weah’s government. Although access has reportedly started to return, the cut-off affected two major networks; Orange and Lonestar. Accusations of financial mismanagement and high inflation rates have plagued Weah’s administration despite high hopes when he resumed office. Internet and social media shutdowns are becoming increasingly popular among African leaders costing their nations millions of dollars. |
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| Applications are now open for the 2019 Innovating Justice Challenge. If you are a startup building a solution that addresses justice problems, get in here before August 15. |
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Andela Cofounder, Nadayar Enegesi has launched a startup called Eden Life. Using its technology platform, Eden helps users handle their domestic and corporate tasks. Pricing currently starts at 36,600 naira (US$120) monthly. The startup has received angel investment from Seni Sulyman, VP Global Operations at Andela.
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| Careem’s founders, in this video, share eight operating principles for scaling a tech unicorn. The Dubai-based ride hailing company has operations in over 100 cities in 14 countries in the Middle East, Africa, and South Asia. It was acquired earlier this year by Uber for US$3 billion. |
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| Correction: Last week in a blurb about Velocity Capital, we mentioned that Cellulant was South African. It is not. Cellulant was founded by a Nigerian, Bolaji Akinboro and a Kenyan, Ken Njoroge. Apologies for the error. |
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That’s All,
Have a great week. We’ll see you tomorrow.
– Olanrewaju
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