Tinubu’s plans for Nigeria’s tech ecosystem

Editor’s Notice

Week 09, 2023
Learn time: 5 minutes

This version of TC Weekender comes bearing excellent news for all cash-strapped Nigerians, the plans the introduced winner of Nigeria’s presidential election has for tech within the nation, and Messi shopping for his World Cup-winning teammates gold iPhones.

Learn on to remain knowledgeable about these and different thrilling developments.

Pamela Tetteh Editor, TechCabal.

Editor’s Picks

	Previous notes stay authorized tender After some intense theatrics, hair-pulling queues, and forking over ₦2,000 simply to pocket ₦5,000 from POS sellers, the Supreme Courtroom of Nigeria has lastly killed the Naira redesign plan. Moreover, the courtroom has decreed that the previous ₦200, ₦500, and ₦1,000 payments shall preserve their foreign money standing till December 31, 2023. Learn more.
	CBN lowers tenure limits at banks Nigeria’s Central Financial institution has made one other head turning resolution that’s shaking up the banking business. The apex financial institution has revised the tenure restrict for execs and non-execs in banks. Now, bankers will solely be capable to serve as much as twenty years on the board. Learn more.
	Tinubu’s plan for Nigeria At 4am on Wednesday, Bola Ahmed Tinubu was introduced as Nigeria’s President-elect. Though doubts persist in regards to the election’s credibility, it’s worthwhile to look at Tinubu’s blueprints for the tech ecosystem to gauge what’s in retailer if his win prevails. Learn more.
	Company shakeup in Safaricom Kenya’s high telco, Safaricom, has continued its company shakeup with the appointment of recent board members. After changing John Ngumi, who served as chairman for less than six years, Safaricom has introduced Karen Kandie and Ory Okolloh as new members of the telco’s board of administrators. Learn more.
	MTN to disable non-RICA’d SIMs in SA Anybody who will get a brand new MTN SIM card in South Africa has to RICA (activate it with their private particulars) inside three days, or it’s hasta la vista, child! That is to scale back the variety of SIM playing cards which might be in limbo and may additionally assist the police to trace criminals and crime witnesses sooner. Learn more.
	Jumia’s now answerable for unhealthy items The Widespread Marketplace for Japanese and Southern Africa (COMESA) has been investigating Jumia’s phrases and situations since September 2021 and has now dominated that the corporate will now not be capable to keep away from accountability for items offered by third events on its platform. Learn more.

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	Messi presents gold iPhones to teammates Lionel Messi has been making rounds with information of his £175,000 buy of customised gold iPhones for his 2022 world cup-winning group. Discuss a golden contact on and off the sector! Learn more.
	Payday seems to be to boost funding In response to paperwork seen by TechCabal, Payday is seeking to elevate $1.5 million to increase its product and engineering group, and operations. Learn more.
	Showmax makes a comeback Multichoice, NBCUniversal, and Sky have introduced a partnership which is able to see the relaunch of a brand new model of Showmax. The partnership will see Showmax streaming English Premier League matches. Learn more.
	MultiChoice to speed up 11 startups The MultiChoice Africa Accelerator Programme has rounded up 11 startups from 9 African international locations that MultiChoice thinks usually are not simply potential moneymakers, but in addition have the potential to resolve real-world points with their tech options. Which startups had been chosen? Find out.
	Sasol to take a position $53 million in greentech South African chemical substances and power firm Sasol has introduced that it has established Sasol Ventures to advance and fund its decarbonisation and 2050 web zero ambitions via enterprise capital. Read more.

Who introduced the cash this week?

South African e-health firm, Envisionit, raised $1.65 million in an undisclosed spherical from New GX Ventures SA.
Hollydesk, a fintech firm based mostly in Egypt, raised $1 million in debt funding from undisclosed traders.
Morocco-based ed-tech firm KoolSkools raised $960,000 in an undisclosed spherical from the Azur Innovation fund.
Nigerian blockchain firm Wicrypt Community received $150,000 in grants from LEAP 2023 Rocket Gas Pitch Startup Competitors.a