Koromone Koroye, Author at TechCabal https://techcabal.com/author/koromone/ Leading Africa’s Tech Conversation Tue, 28 Feb 2023 07:57:01 +0000 en-US hourly 1 https://wordpress.org/?v=6.1.1 https://techcabal.com/wp-content/uploads/tc/2018/10/cropped-tcbig-32x32.png Koromone Koroye, Author at TechCabal https://techcabal.com/author/koromone/ 32 32 Centre Stage: Feyikemi Akin-Bankole and Simi Badiru https://techcabal.com/2023/03/03/centre-stage-feyikemi-akin-bankole-and-simi-badiru/ https://techcabal.com/2023/03/03/centre-stage-feyikemi-akin-bankole-and-simi-badiru/#respond Fri, 03 Mar 2023 10:00:00 +0000 https://techcabal.com/?p=107615 In todays’ edition of Centre Stage, I share parts of my conversations with Feyikemi Akin-Bankole and Simisola Badiru. Feyikemi and Simisola – fondly nicknamed “F&S” by secondary classmates years ago – were recent grantees of Spotify’s Africa Podcast Fund which was announced in October 2022.

On every episode of “F&S Uncensored”, Feyikemi and Simisola discuss pop culture, Nigerian music, and share personal experiences like any best friend duo would in real life. 

F&S Uncensored

I’m bringing F&S to the Centre Stage because their podcast—which covers everything from Nigerian pop culture, their personal lives, new music they are listening to, and much more—is a bridge that connects many Nigerians in the diaspora to a home they miss and love. 

F&S Uncensored meets the Africa Podcast Fund

Feyikemi Akin-Bankole: We knew Spotify had plans to announce the grantees that day, but we didn’t know what time the announcement would go live on social media. We just randomly opened our Twitter and saw ‘congratulatory’ messages in our mentions. 

Simisola Badiru: It was actually your tweet that broke the news; when I saw my mentions blowing up, I thought I was in trouble or something. 

Badiru and Akin-Bankole were two out of thirteen burgeoning African creators who were selected to be a part of the Africa Podcast Fund initiative. Other grantees include Joseph Nti, host of Simple Accra, a well-loved Ghanaian podcast (Ghana); Joan, Kibz, Nyamita, and Owen, co-hosts of The Sandwich Podcast (Kenya); and Gugulethu Nyatsuma, host of After School is After School with Sis G.U (South Africa). 

FAB: We felt like we deserved to be on the list. We’ve been running “F&S Uncensored” for four years now and being a part of the Africa Fund is a win for us. 

SB: Also after a few years of running a podcast, you are bound to experience some stagnancy and monotony; but we made a promise to ourselves to be as disciplined as possible with “F&S Uncensored”. For example, we record our episodes every Sunday. No excuses. 

And their discipline paid off because “F&S Uncensored” has a 4.9-star rating and 100+ positive reviews on Spotify. But before Akin-Bankole and Badiru launched their podcast, they formed a sustainable friendship over their shared love of Nigerian music and conversational gist.

Feyikemi Akin-Bankole

F&S Uncensored: Friendship, music, and keeping things authentic

SB: Feyikemi and I met on the first day at secondary school. She was talking to my younger brother and sort of invited me to join the conversation. But I wasn’t having it because I really didn’t want to go to that school; my heart was set on Greensprings. I definitely had a bad attitude in the beginning.

FAB: Yes, you did. 

SB: But we ended up in the same class and over time formed a friendship.

FAB: We discovered that there was a mutual love for Nigerian music and Wizkid

SB: And back then, people in our social circles didn’t really rate Nigerian music like that. But Feyikemi and I were obsessed with the Naija sound and were really plugged into the industry. 


Long before Ayodeji “Wizkid” Balogun became a global music phenomenon, his debut studio album, ‘Superstar’, was packed with tracks that have stood the test of time. Songs like Pakurumo, Scatter the Floor, and Love My Baby are classic songs loved by people of all ages and pedigrees. 

In 2021, Flutterwave announced Wizkid as its global brand ambassador and face of its remittances solution, Send. Flutterwave isn’t the first African fintech brand to bring a Nigerian celebrity on board as a brand ambassador; Chipper Cash launched its services in the United States with some help from Damini “Burna Boy” Ogulu

With several awards under Wizkid’s belt, including 1 GRAMMY, 2 BETs, and an Apple Music “Artist of the Year (Africa) Award, it is safe to assume that Akin-Bankole and Badiru saw a future superstar long before everyone else caught on. 


FAB: We were early fans of Wizkid even when a lot of our friends didn’t understand why we loved him so much. 

SB: But look at Wizkid now, right? Everyone loves Wizkid, including non-Nigerians. This was not the case back in 2011/2012.

Not only did Akin-Bankole and Badiru bond over their love for music, they also shared mutual interests in media and attending live music concerts and festivals in Lagos, even at a young age. 

SB: Something about seeing red carpets and tables at concerts made me realise I wanted to work in media in my lifetime.

FAB: And because we always went to these events together and openly talked about our experiences in school, people nicknamed us, “F&S”.

SB: We even had a joint 13th birthday party as “F&S”. So when we decided to start this podcast 4 years ago, we didn’t have a hard time coming up with a name. 

FAB: We added “uncensored” to the title as a way to inspire us to talk about anything and everything without censorship. 

SB: We started off by focusing on our love and passion for music and then over time, we covered everything from university life to quitting jobs to moving back to Nigeria and even going through NYSC 

FAB: And even though I don’t currently live in Nigeria, I still know what’s going on back home because of the conversations I have with Simi on the podcast. “F&S Uncensored” represents Nigerians who live around the world; we connect them to home even though they are away from home. 

Simisola Badiru

F&S Uncensored: Work/life balance, favourite artists, and Spotify playlists

Though Akin-Bankole and Badiru are verified citizens of Generation Z, they have impressive career milestones under their belt with a clear potential for explosive growth. Badiru, for example, curated music for Apple, provided editorial services for Culture Custodian and until recently, was an account executive at LSFPR, a Nigerian-owned PR agency. 

SB: I’ve always worked with creative organisations so finding a balance between my 9-5 job and personal projects hasn’t been difficult for me. I currently work for TRACE as Head of Artist Services & Relationships and my role provides a lot of flexibility which has allowed me to nurture my creative side. 

Akin-Bankole’s desk job is in Human Resources, but her work experience is refreshingly diverse and industry-agnostic. Like her co-host and best friend, Akin-Bankole curated music playlists for a media company – Bounce Networks – and did editorial work for Culture Custodian

FAB: I’m a more disciplined person because of my 9-5 job and I apply that discipline when I’m doing my creative work. I give my time to my corporate job but after the workday ends, my creative side comes to life; I listen to music, send new songs to Simi, and work on the podcast. I feel like I have a work-life balance, but I intentionally invest in my creative career. 

After the conversation wrapped up, I asked Simi and Feyikemi to share new artists, playlists, and songs that they currently have on rotation. All their recommendations can be found on Spotify.


Simisola Badiru’s listening list

F&S Rotations

  • About Time – Sudxn ft. Fadi
  • SOS – 9t9
  • Africa Heat

Feyikemi Akin-Bankole’s listening list

RADAR Africa

  • SGawd
  • Mafeni
  • Jorda Rae
  • Gone Abroad
  • Ginger Me
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2022 review: a prolific year for TechCabal https://techcabal.com/2022/12/28/2022-review-a-prolific-year-for-techcabal/ https://techcabal.com/2022/12/28/2022-review-a-prolific-year-for-techcabal/#respond Wed, 28 Dec 2022 11:09:52 +0000 https://techcabal.com/?p=105154 This article is a look back at the lessons, milestones, challenges, and growth TechCabal experience in 2022.

Hello and welcome to TechCabal’s 2022 end-of-year editorial review and letter.

I opted to publish a letter instead of a report to make this note feel more personal and relatable.

While 2020 and 2021 were rife with uncertainty, confusion, grief, and global upheavals; 2022 was about picking up the pieces, finding balance, and making up for lost times.

This year was profilic for many reasons, some of which you will read in subsequent paragraphs. Prolific is synonymous with abundance, creativity, fruitfulness, and productive growth.

In 2022, TechCabal experienced growth in these four areas:

  • Business travel
  • Editorial coverage
  • Recruitment
  • New products

Thank you for sticking with us in 2022 and getting TC Daily to 100,000 subscribers 🧑🏿‍🚀

Koromone Koroye, managing editor, TechCabal


TRAVEL 🛫

In 2022, TechCabal traveled to more local, regional, and international destinations than we did last year. Pan-African travel is particularly important to TechCabal because it helps us increase our editorial footprints. During our travels, we officially acquainted ourselves with several African founders, operators, and industry leaders.

This year, TechCabal reporters attended work-related events in:

Image source: TechCabal

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Centre Stage: Cornelius Ashley-Osuzoka https://techcabal.com/2022/12/13/centre-stage-cornelius-ashley-osuzoka/ https://techcabal.com/2022/12/13/centre-stage-cornelius-ashley-osuzoka/#respond Tue, 13 Dec 2022 12:05:00 +0000 https://techcabal.com/?p=104711

Hello, and welcome to the final edition of Centre Stage in 2022. My guest today is Cornelius Ashley-Osuzoka.

Cornelius is a developer experience lead at Flutterwave, one of Africa’s most valuable fintech companies. In 2019, Cornelius joined Flutterwave through the company’s ‘Tech Heroes internship program. And within three years, he went from being an intern to a product owner to leading Flutterwave’s developer experience team set up by the fintech’s CEO, Gbenga Agboola. 

I’m bringing Cornelius to centre stage because he is a go-between Flutterwave and technical engineers who frequently work with Flutterwave’s technology and products. Software developers and engineers are responsible for building, designing and making our most-used apps tick daily. 


Meet Cornelius Ashley-Osuzoka (stylized as CAO in this article)

Koromone Koroye: Hi Cornelius, what does it mean to be a developer experience lead?

Cornelius Ashley-Osuzoka: I develop strategies on how Flutterwave creates unique experiences for developers in our ecosystem. 

My job requires me to create and manage frameworks and processes that align with what developers need from us. For example, our in-house technical writers develop technical content – API documentation, tutorials, and webinars – targeted at developers.

I spend a good portion of my time thinking about ways to drive developer-centric initiatives and community-building events. 

KK: Does your work require you to only work with in-house developers, or do you manage external dev communities?

CAO: Our team connects with in-house and external developers. We connect with technical workers who use Flutterwave to build products and create better experiences for them. 

On the job: Challenges and rewards

KK: What are some challenges you face with building communities for developers?

CAO: Flutterwave is a pan-African company which means we run business operations in multiple African countries. Developers around Africa work with our APIs and technical documents. The challenge we face is managing various cultural nuances and product expectations. This challenge is positive, but aligning everyone requires a lot of effort.

KK: Can you share a specific example?

CAO: I once worked with a Cameroonian developer who explained that our perception of mobile payments in his country differs from how Cameroonians perceive and use mobile money channels. I had to learn how to provide technical resources and support for developers from diverse cultural backgrounds. 

Another challenge was getting developers – particularly seasoned technical engineers – to adapt to changes in our technologies. Sometimes the transition process can be complicated and imperfect; still, we do our best to carry our developer community along with us. 

KK: In your experience, what differences have you noticed in how we build products in Nigeria versus other countries?

CAO: One difference I’ve seen is in the types of products that we build. The products and features you find in the Nigerian market are typically more advanced compared with other markets. Some African markets focus on e-commerce and hospitality, whereas fintech and health tech products dominate Nigeria’s startup market.

Career development and developer myths

KK: What does professional development look like to you? How do you grow as a developer experience manager? 

CAO: Firstly, be a developer. Beyond being just a developer, you must be willing to get your hands dirty. Pick a stack (frontend or backend) to focus on and hone your craft by building a portfolio of products and exchanging ideas with like-minded people.

Secondly, understand your startup’s business objectives and consider how a developer community would align with those objectives. 

Thirdly, work on your communication skills. A portion of my day-to-day involves drafting strategy documents, creating plans and assigning actionable steps to help Flutterwave achieve its developer community goals. 

KK: What are some common myths about developers?

CAO: A common myth in Nigeria’s developer community is that all developers earn a lot of money. Some experienced developers make well above average salaries, but this is different from the norm and is typically only the case with developers who work in big tech companies. Many junior developers recently transitioned into their roles and are working their way up the corporate ladder. 

Another myth is that developers are terrible communicators. Many developers are cerebral communicators who know how to document processes and share their ideas. Nigeria’s tech ecosystem is home to fast-growing developer communities that regularly host meet-ups and networking events across different cities. 

KK: What does success mean to you, and or what does it look like to you and your role?

CAO: Success looks like a community of pan-African developers building valuable payment features and systems using products designed and developed by our in-house engineering team. 

Flutterwave was founded to help Africans send and receive money within a heavily-fragmented payment ecosystem. Success looks like my team and me working hard to ensure our API (application programming interface) documentations are up-to-date and functional.


KK: What do you enjoy the most about working for Flutterwave? 

CAO: Definitely working with a diverse team of talented and experienced people. When I joined, I was surprised to see people from different backgrounds in engineering. One of my co-workers is a backend engineer with a history degree. Working with a diverse team helps sharpen how I think and approach my day-to-day tasks. 

Another thing I enjoy is working on multiple projects simultaneously to avoid falling into a mundane and predictable work rhythm while on the job. Working this way promotes collaboration and cross-functional team camaraderie. 

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Opinion: Trends and predictions for African startups in 2023 https://techcabal.com/2022/12/08/opinion-trends-and-predictions-for-african-startups-in-2023/ https://techcabal.com/2022/12/08/opinion-trends-and-predictions-for-african-startups-in-2023/#respond Thu, 08 Dec 2022 16:21:52 +0000 https://techcabal.com/?p=104463 These predictions and comments were shared with TechCabal by Tosin Eniolorunda via MHP Group. Eniolorunda’s comments represent his personal views and do not reflect TechCabal’s views of Africa’s technology and business ecosystem. 

Tosin Eniolorunda’s comments are italicized and placed between open and end quote marks.

Rising stars: Nigerian fintech startups 

Fintech remains the sector darling in Africa’s technology ecosystem. In 2020, Nigeria was home to over 200 fintech companies and 50% of the total share of funding that poured in Africa’s tech space went to fintech startups. Furthermore, Nigerian fintechs startups raised more than $600 million in funding between 2014 and 2019, according to a report by McKinsey. 

But despite record-breaking funding rounds and a plethora of Nigerian startups building financial services and products for a largely underbanked but youthful and digitally savvy population, the fintech space is young and has a long way to go where scale and growth are concerned. 

2022 has been a year of global headwinds for nearly every sector, and fintech has been no exception,” said Tosin Eniolorunda in an email to TechCabal. 

For start-ups, these challenges have manifested themselves in the form of a slowdown in VC activity, resulting in both depressed valuations and a reduction in VC funding.”

Layoffs and cuts are imminent 

In the absence of external funding, many founders and fintech leaders have opted to streamline their businesses by reassessing their strategies and cutting costs – sadly, often in the form of job cuts – and in extreme situations, it has forced founders to shut down their operations.” 

Sudden layoffs have been happening across Nigeria’s burgeoning startup ecosystem. Nigerian food procurement startup, Vendease, recently laid off 9% of its workforce and Quidax, a Nigerian crypto exchange startup, trimmed its workforce by 20% in November. Eniolorunda predicts that more startups will adopt a “do more with less” approach on the road to profitability in 2023.

“Compared to the ‘growth at all costs’ mindset that characterised 2021 and even the first few months of 2022, profitability and unit economics are now top of the priority list for investors across the world,” Eniolorunda concluded. 

Digital mode: Small and medium-sized businesses

But it isn’t going to be all doom and gloom for Nigeria’s startup ecosystem in 2023. Eniolorunda commented on the increasing number of SMBs that digitized their business operations in 2022. As more end users purchase smartphones and demand for cashless payment options, small businesses are feeling the pressure to go digital sooner than later. As such, we are witnessing a new wave of B2B-focused founders who are building operational products for smaller merchants and businesses. 

“These businesses have historically been left behind by traditional providers and as a result, we’ve seen a significant number of disruptive, technology-led players emerge in the space. VC money has tended to follow across the SMB digitisation value chain, from payments to business management tools,” added Eniolorunda in his comment. 

2023 expectations: partnerships, customer experience and more

Africa’s tech ecosystem has had its fair share of business-related scandals this year. In June, TechCabal published an investigative piece that started many conversations on workplace culture in Nigerian startups. Kloud commerce recently made the news after its former CEO, Olumide Olusanya, announced to employees that the company would be shutting down on September 30. The story of Kloud commerce’s abrupt demise revealed a gap in due diligence on the investors’ side of the table. 

“There will be longer timelines for investing as VCs will be keen on doing deep due diligence. Valuations will continue to be pegged to the fundamentals of a company, such as their unit economics, and there will be a focus on high quality transactions where the business models are proven.” 

Furthermore, Eniolorunda forecasted that larger fintechs will partner with smaller fintech startups in 2023. The good news is that Nigerian fintech operators are big fans of strategic partnerships and acquisitions.  

“Consolidation will start to happen in the fintech space in the form of collaboration with banks, but also larger fintechs forming strategic partnerships with smaller ones.” 


Conclusively, Eniolorunda makes a case for strengthening customer experience by deploying fraud detection tools and using verification technology in their apps and digital platforms.

“Finally and most importantly, fintechs must focus on customer experience to make sure they continue to protect their customers from any fraudulent activities in the months and years ahead.”

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11 rising African female founders you should know in 2022 https://techcabal.com/2022/06/17/11-rising-african-female-founders-you-should-know-in-2022/ https://techcabal.com/2022/06/17/11-rising-african-female-founders-you-should-know-in-2022/#respond Fri, 17 Jun 2022 11:00:00 +0000 https://techcabal.com/?p=94777 This article was co-authored by Koromone Koroye, Hannatu Asheloge, and Ngozi Chukwu

Africa’s technology ecosystem as we know it is thriving and primed for astronomical growth and success in this decade. Over the past 5 years, our ecosystem has celebrated several key milestones:

While these milestones are valid and deserve amplification, we cannot ignore the diversity elephant in our meeting rooms, tech conferences, pitch stages, and panel sessions. Funding received by female-owned startups is still significantly low compared to what their male counterparts receive from foreign and local investors. In this widely-read piece by Max Culliver and Africa: The Big Deal, they paint a gloomy picture of existing gender disparities within Africa’s venture funding space. In 2021, 93% of the funding in Africa went to male-led startups – a pretty shocking figure by any standard.

But the news isn’t all doom and gloom. This year alone, we’ve seen more African female founders raise capital for their startups and get accepted into reputable accelerators like Techstars Toronto Accelerator (Techstars Toronto) and Y Combinator (YC). This article aims to recognize some African female founders making great strides across various industries and sectors on the continent. 

This list comprises women who are mothers, advocates, readers, dancers, hikers, swimmers, entrepreneurs, founders, and so much more. Meet 11 African female founders we are rooting:

Sethebe Manake – Botswana 🇧🇼

Image source: Sethebe Manake

My name is Sethebe Manake (she/her) and I am a real-estate expert turned tech entrepreneur who enjoys dancing and game nights. I am the founder of GoSmartValue; a one-stop-shop for real estate investors, financiers and developers to get accurate and reliable information that informs their decisions. The information we provide to real estate investors ranges from property valuations to customized location insights.


Jihan AbassKenya 🇰🇪

Image source: Jihan Abass

My Name is Jihan Abass (she/ her) and I’m the Founder of Lami. I grew up on the coast of Kenya and I love being in the water; either deep sea fishing or wakeboarding. I set up Lami with the aim of democratising access to insurance using technology. Lami offers an insurance API that has digitized the entire insurance value-chain and can be used to distribute insurance products through digital partners.


Neema Iyer – Uganda 🇺🇬

Image source: Neema Iyer

My name is Neema Iyer and I’m the founder of Pollicy, a Ugandan-based startup. A fun fact about me is that my grandmother, mother and I are all of different nationalities.

Pollicy is a feminist civic technology collective that focuses on using data and technology to create social change. We research ways and implement projects through which Africans can take back control of their data and reimagine new ways of tech ownership. Our mission is to advance how data is conceptualized, used and reproduced for the development of just societies. 


Tao Laine Boyle – South Africa 🇿🇦

Image source: Tao Boyle

My name is Tao Boyle (she/her). I am the co-founder of FoondaMate. I am an avid reader and occasional hiker when I get the chance and free time.

FoondaMate enables access to online learning for students previously unable to study online — through low data and chat first applications that are available in multiple regional languages. FoondaMate’s flagship products enable students to access study materials as well as answers to questions on WhatsApp and Facebook messenger. Educators also use FoondaMate’s resources to set homework and share learning materials with students.


Thato Schermer – South Africa 🇿🇦

Image source: Thato Schermer

My Name is Thato Schermer (she/her)  and I’m the Founder of Zoie Health Technologies. I grew up in Pretoria, South Africa and Wisconsin USA. My hobbies are planning baby showers and bridal showers, cooking and traveling. I’m also really great at mimicking accents; the Zoie team’s favorite is my Australian accent. 

I set up Zoie Health to make quality women’s healthcare more accessible for millions of women in Africa by leveraging technology. Through our app, we offer virtual consultations with various women’s healthcare practitioners. We also have a contraceptive subscription service on our platform.  


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Tebogo Mokwena – South Africa 🇿🇦

Image source: Tebogo Mokwena / Akiba Digital

My name is Tebogo Mokwena and I’m the founder and CEO of Akiba Digital. I’m an avid traveler and have been to 50 countries (before the age of 30) with plans to visit all African countries in my lifetime. I graduated from the University of Cape Town (South Africa)  and the University of California (Los Angeles) with a triple major in computer science, genetics, and biochemistry.

Akiba Digital is building an alternative credit scoring infrastructure to enable small businesses and underbanked consumers to have better access to financing. I hope to use technology and innovation to contribute to Africa’s economic growth by unlocking financial access for those who are predominantly excluded.


Dr Nonhlanhla Sitole – South Africa 🇿🇦

Image source: Dr Nonhlanhla Sitole

My name is Dr Nonhlanhla and I’m a science geek who holds a PhD in Molecular and Cellular Biology. In my next life, I want to be an astronaut!

I’m also the co-founder of health startup, Zoie Health. Zoie is a digital women’s health & wellness clinic that facilitates virtual medical consultations, contraceptive delivery subscriptions and community chat for women in Africa. My goal is to make quality women’s healthcare more accessible for millions of women around the world, by leveraging leading technology, world-class clinical care and love. 


Ifeoluwa Dare-Johnson – Nigeria 🇳🇬

Image source: Ifeoluwa Dare-Johnson

My name is Ifeoluwa Dare-Johnson. I am the co-founder/CEO of Healthtracka, a nutrition enthusiast, and a wannabe dancer. Healthtracka is a health tech startup that is decentralizing access to medical diagnostics in Africa, through at-home testing. Healthtracka is bringing the lab to Africans in the comfort of their homes.


Oluwatosin Olaseinde – Nigeria 🇳🇬

Image source: Oluwatosin Olaseinde

My name is Tosin Olaseinde, and I’m the founder of MoneyAfrica and Ladda. I enjoy hiking and have hiked the Table Mountain and Lion’s Head in Capetown.

MoneyAfrica teaches people about money. I enjoy talking about money and so I built a platform that helps over 200,000 people learn about their money. 

Ladda is a fintech company that helps people invest and build wealth in the long run. 


Tomilola Majekodunmi – Nigeria 🇳🇬

Image source: Tomilola Majekodunmi

My name is Tomilola Majekodunmi (she/her). I am the co-founder and CEO of Bankly. I am a dog lover with a 2-year-old toy-pom called Arya. I am passionate about Nigeria, social impact, and the wholeness of women. 

Bankly uses a hybrid model (humans and tech) to enable people to make payments, save, withdraw, and transfer money to other people, especially in locations where physical banks are difficult to access.


Honey Ogundeyi – Nigeria 🇳🇬

Image source: Honey Ogundeyi

My name is Honey Ogundeyi. I am the Founder and CEO at Edukoya, as well as an aspiring professional squash player and tutor. 

Edukoya is an edtech company on a mission to redefine learning for the next generation of Africans. Our digital platform connects primary and secondary students with the best teachers worldwide for real-time tutoring sessions using a membership model.


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Digital Africa is supporting African entrepreneurs with bridge funding and impact programs https://techcabal.com/2022/06/01/digital-africa-is-supporting-african-entrepreneurs-with-bridge-funding-and-impact-programs/ https://techcabal.com/2022/06/01/digital-africa-is-supporting-african-entrepreneurs-with-bridge-funding-and-impact-programs/#respond Wed, 01 Jun 2022 10:00:00 +0000 https://techcabal.com/?p=93887 Digital Africa is an impact-driven initiative, backed by the French government, on a mission to support African tech entrepreneurs and innovators by providing technical assistance, financing projects and businesses, and creating a regulatory environment that supports African innovation. Since its launch in 2018 by President Emmanuel Macron, Digital Africa has grown to a community of 6,000 African entrepreneurs across diverse sectors, and has run several impact programs including Talent 4 Startups and Africa Next.

In this original interview, TechCabal spoke to Stéphan Eloïse Gras, executive director of Digital Africa, about Digital Africa’s journey so far and their plans for the next generation of skilled African innovators. 

Digital Africa’s Tech 4 Scale

Digital Africa’s connection between Europe and Africa

Koromone:  Can you speak a little bit into how Digital Africa is helping to connect Europe to Africa, and what that means for our ecosystem?

Stéphan Eloïse Gras: Digital Africa is a French-based initiative working to provide African tech entrepreneurs with the skills and resources needed to create and scale digital innovation in order to boost their economies.

One of the major ways we are connecting Europe and Africa is through partnerships. We bring together organizations and governments on both continents to work on projects that are meant to provide support for early-stage startups.

These partnerships help to accrue and distribute resources that are deployed to supporting entrepreneurs and startups in the ecosystem. An example is the bridge fund, which we launched in partnership with the French government. It provides urgent funding for startups between 2 rounds of resources. 

Another example is the Africa Next program, which we launched alongside African VCs like Ingress Capitals and CC Hub. In this program, we share investment opportunities and organize online pitch sessions for early-stage startups.

KK: Can you talk about some challenges you’ve experienced in the course of your work with Digital Africa? 

SEG: One challenge we’ve faced is ensuring that the programs we launch are tailored to fit the needs of the communities and ecosystems we want to work with.

Another challenge is managing resources in a way that is both transparent and agile. 

Digital Africa is a public-funded organization, and so there are a lot of processes required in order for funds to be disbursed. Combining this with the need to be very responsive in how we respond to funding requests can be challenging as well.

Digital Africa’s plans for the continent’s youthful population

KK: The Digital Africa white paper predicts that by 2030, a combined 800 million African youths – counting from 2020 – will be on the job market. Should we be optimistic or nervous about this figure?

SEG: We should be more excited than preoccupied by the sheer size of that number. At Digital Africa, we provide people with the capacity to either find jobs, create jobs, or upskill.  With this, young people will be capable of creating opportunities for themselves within the digital economy to sustain the population growth. That’s the exciting part. 

What’s preoccupying on the other hand is how to redistribute the value within the community so that it is retained in Africa and not taken to an external economy. 

KK:  That’s an interesting way to look at it. What do you think the strengths of the continent as a whole are when it comes to entrepreneurship? 

SEG: I see a lot of creativity and resilience. Another really big strength is the sense of community rather than an individualistic approach. 

KK: My final question is about female entrepreneurship. Can you talk about how Digital Africa is helping to close the gender gap that exists in our technology and business ecosystem?

SEG: At Digital Africa, we commit to 50% of our beneficiaries being women. We actively look out for female entrepreneurs to support and mentor with skills. Beyond skills, we are also determined to ensure that we provide a safe-space for women when it comes to raising money. 

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Adora Nwodo’s journey into mixed reality and cloud engineering https://techcabal.com/2022/05/17/adora-nwodos-journey-into-mixed-reality-and-cloud-engineering/ https://techcabal.com/2022/05/17/adora-nwodos-journey-into-mixed-reality-and-cloud-engineering/#respond Tue, 17 May 2022 09:12:26 +0000 https://techcabal.com/?p=92946 Adora Nwodo is a 25-year-old software engineer based in Lagos. She currently works as a cloud engineer at Microsoft and is the author of Cloud Engineering for beginners. I’m bringing Adora to Centre Stage because she has shown great commitment to strengthening developer communities across Nigeria and is an advocate for African women in technology. 


Adora Nwodo on cloud engineering and mixed reality

Koromone Koroye: Hi Adora, thanks for agreeing to speak with me. Please, tell me a little about yourself. 

Adora Nwodo: I am a software engineer currently building mixed reality on the cloud at Microsoft. I am also a public speaker, published author, digital creator, and occasional DJ. 

KK: Are there any differences between cloud and software engineering, or are the terms interchangeable?

AN: There are differences. Anyone who designs, builds, implements, and maintains software applications is a software engineer.  

Cloud engineers are typically hired to deploy or scale up new and existing cloud resources. Cloud engineers literally do their engineering on the cloud, whether software engineering or DevOps engineering.

KK: What does it mean to build mixed reality (MR) products?

AN: Before I talk about mixed reality, let me briefly explain the difference between augmented reality (AR) and virtual reality (VR). 

AR is essentially an enhanced and interactive version of our physical and real world. If you have ever used Snapchat or Instagram filters, you have interacted with AR somehow. 

On the other hand, VR is a computer-generated environment that usually requires a head-mounted display (HMD) or headset to enjoy a fully-immersed digital experience. 

Mixed reality blends both AR and VR and provides an interesting middle ground for both technologies. MR gives you the immersive VR experience and the chance to interact with multiple digital objects. Furthermore, MR gives you the illusion that these digital objects exist in your physical space. I can see holograms in my room when I wear a mixed reality headset, but I still get to experience my room as it exists in real life. 

KK: Fascinating! What do you enjoy about building mixed reality products in your current role?

AN: I’m building a platform called Mesh for Microsoft. Mesh is the engine that will power the metaverse. Building Mesh has been an exciting experience, primarily because most of the ideas we are working on are relatively new and unknown. Sometimes, building in uncharted territory without a pre-existing playbook to fall back on, can be frustrating. Still, I choose to enjoy the learning process of pioneering a new industry or sector.


Digging deeper with Adora Nwodo

KK: How did you get into cloud engineering? What piqued your interest?

AN: Before joining Microsoft, I already had a vested interest in technology, artificial intelligence (AI), quantum computing, and cloud engineering. When I found out about the Microsoft role and that it involved working with mixed reality, I was immediately interested in being a part of the team. During my early months in Microsoft, I primarily worked on the HoloLens before transitioning into cloud-related projects.

KK: Is there a learning curve to accommodate cloud engineering? What are the specific courses people need to take?

AN: If you’re trying to come into cloud engineering, taking an introductory computer science course is essential. The cloud is basically a network of computers, so you need a foundational understanding of computers to understand what is going on. Take any fundamental course on computer science; learn about Linux, operating systems, networking, and cloud fundamentals of the computer.

KK: Let’s talk about your professional growth. Did your career kick off at a startup?

AN: No, it didn’t. I worked with an advertising agency as a software developer before moving to Microsoft. 

KK: What was it like transitioning from working at an agency to moving to a more structured and global company like Microsoft?

AN: Joining Microsoft was a breath of fresh air for me, and it wasn’t necessarily about the company as much as it was about the team. I’m a big advocate for working with great teams rather than just great companies. The transition was easy for me because I was excited about the opportunity to build solutions I am passionate about and become the kind of engineer that I have always dreamed of.


Adora on being an African woman in technology

KK:  What changes do you think need to be made for gender biases to be eradicated in our ecosystem? It’s obviously going to take a while, but practically speaking, what kind of changes do you think need to be made?

AN: When we talk about gender bias, some people think it’s always conscious, but unconscious biases also exist. I implore African startups and businesses to hold recurring bias training sessions for their employees throughout the year. We can’t start the mindset shift if we don’t educate people and expose them to their conscious and unconscious biases.  

Hannatu Asheolge: You are pretty influential in the Nigerian tech ecosystem. You’re also a blogger, published author, and active YouTuber. How has putting yourself out there helped you grow?

Adora Nwodo: Putting myself out there is one of the reasons I got into Microsoft at the time that I did. Being active in the developer community and on LinkedIn at that time put me on a recruiter’s radar; it helped me acknowledge that I’m a big fan of learning in public. If I didn’t try to learn in public by posting tweets about things I was reading or learning, people wouldn’t have reached out to me to offer help. Finally, it helped me build my network. Going to ecosystem-related events, meeting new people, and taking on collaborative projects has helped my professional growth.

HA: You recently announced that you were accepted into a Stanford Graduate School of Business (GSB) programme. What does this acceptance mean to you as a young Nigerian woman?

AN: I am excited about learning career-accelerating skills like leadership and business management, and I get to be a part of the impressive GSB network. 

HA: Do you have any tips you’d like to share about balancing work life and school?

AA: First of all, I don’t know if balance is achievable. I like to think we just try our best and leave the rest to vibes, to a great extent. Delegation is a skill everyone needs to learn on the job. You don’t have to do everything, primarily when you work with a team of talented people. How you prioritise your tasks and assignments matters as well. Prioritise, delegate, and ask for help. 

My calendar has also made my life easier recently. I use it to schedule most of my days to avoid wasting time on unnecessary tasks. 

HA: You’re very vocal about your non-work-related hobbies and interests. Can you share some of your favorite hobbies or after-work activities?

AN: I love going around drinking wine and eating steak and mashed potatoes. I enjoy the whole restaurant-hopping thing with a bunch of my friends where we’re just eating good food and drinking wine. I also DJ at lounges and curated events.

HA: You’re currently part of several communities. Can you share a few that have helped shape your professional and personal growth?

AN: I’ve been a part of several communities, but the one that really helped a lot at the start of my career was Google Developer Groups(GDG). I was a co-organiser for GDG Ajah and a member of GDG Lagos. My involvement with them helped me meet many tech people at that time. Currently, I’m VP for the Nigerian chapter of the VR/AR Association. The goal is to advocate for VR and AR usage in this region and let the world see what Nigerian companies are doing with VR and AR technology.

HA: You’re a young woman with a thriving career. Do you see yourself sticking with cloud engineering for a long time, or is there a career pivot in your future?

AN: There’s a career pivot in my future. I see myself taking on more roles that allow me to make business decisions within tech organisations pretty soon. Engineering decisions are fun, but I definitely want to take on roles that will enable me to make more business and product decisions at some point in my career.

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Safer Internet Day with Twitter Africa and TechCabal https://techcabal.com/2022/02/08/safer-internet-day-with-twitter-africa-and-techcabal/ https://techcabal.com/2022/02/08/safer-internet-day-with-twitter-africa-and-techcabal/#respond Tue, 08 Feb 2022 17:00:00 +0000 https://techcabal.com/?p=88631 What does staying safe in the midst of a global digital revolution look like?

Today marks the 19th edition of Safer Internet Day, and this year’s theme—a repeat of last year’s—is “together for a better internet”. As more people discover the power of the internet and its multifaceted abilities, internet-driven platforms need to be more willing to build safety measures into their products. Since the internet emerged in the 1970s, it has morphed into something bigger than amusing Google searches, laughable passwords, and finstagram accounts. 

Like most avid Twitter users, I have had a few of my tweets end up on the wrong side of bird avenue. Before Twitter introduced the option to limit who replies to your tweets—particularly tweets that garner a lot of attention (likes, retweets, etc)—curtailing abusive or mean-spirited responses was an impossible feat. 

But, like most social media platforms that are popular amongst young digital natives—most of whom are bullish about protecting their mental health and pushing kindness online—Twitter is invested in protecting its users and keeping internet bullying or contentious behaviour at bay. 

To mark today’s celebration of safer global internet usage, Twitter launched an emoji (which you can activate by tweeting #SaferInternetDay) to encourage people to join the conversation on the importance of internet safety. According to Statisa, Twitter reportedly recorded 206 million active users in Q2, 2021. In recent times, Twitter users have opened up about experiencing one form of internet abuse or the other. The platform has, over the past several years, marked Safer Internet Day by rolling out various initiatives such as dedicated emojis, blog posts, events, and more. 

We’re excited to join safety partners from all over the world to mark #SaferInternetDay2022 and to play our part in creating a safer internet for all. We want Africans on Twitter to have safe, inclusive, and authentic conversations, and we’re working to give people more control over their experience on the service. We have made meaningful progress in our efforts to promote healthy conversations and to surface authoritative information on Twitter, and we remain committed to working with our partners across industry, government and civil society to help build a safer internet for all Africans.

Emmanuel Lubanzadio, Head of Public Policy, Government & Philanthropy for Sub-Saharan Africa, Twitter

This year, Twitter’s Africa team has some useful tips to encourage Twitter safety, to promote #goodvibes on social media. Interested in learning more about protecting your social headspace? Read Twitter’s handy guide below:


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Whether you’re a football fan or an afrobeats stan, a pop culture addict or a news buff, you come to Twitter to be a part of the conversation. Sometimes, those conversations get heated. To mark Safer Internet Day, we’ve pulled together a guide to Twitter’s safety tools so you can feel safer when participating in the conversation, manage your digital footprint, and control your experience on the platform.

Protect yourself with these safety features from Twitter

  • Block: Get rid of negativity—you can restrict specific accounts from contacting you, seeing your Tweets, and following you. Learn more about Block here.
  • Mute: Don’t want to see it? Minimise unwanted noise by removing an account’s Tweets from your timeline without unfollowing or blocking it. You can also mute particular words, conversations, phrases, usernames, emojis, or hashtags. Learn more here.
  • Remove Followers: Curate your own follower list. Without directly Blocking someone, you can tap through to your list of Followers and actively remove that person from following you. 
  • Sensitive Media: NSFW? Twitter’s default setting is to place potentially sensitive material behind a warning. You can check this or opt into viewing this media by adjusting your settings.

Control your conversations and DMs

  • Hide Replies: Sometimes replies can get a little out of control. You choose who gets visibility in your conversations. If you believe a reply is off-topic or spammy and detracts from the conversation, you can click on the reply and hide it. Replies are not deleted but placed behind an extra click. Learn more here.
  • Conversation Controls: Not everyone has to be in every conversation, and you can control who can reply to your Tweet at any time. This feature can help you proactively manage a conversation without having to use Block and can prevent spam. Check out our guide to conversation settings here.
  • My DMs: You choose who can slide into your DMs. DM settings allow you to filter out unwanted messages and limit messages from people you don’t follow. More info here.

Manage your digital footprint and keep yourself and your data safe

  • 2FA: Keep your account safe. Add an extra layer of security for your account that allows you to add a further security check in addition to your password. You can learn how to set it up here.
  • Protecting your Tweets: The whole world doesn’t have to know your thoughts. Keep things private by choosing to make your Tweets visible only to your followers. You’ll receive a request whenever someone wants to follow you. Find out how here.
  • Discoverability: Keep IRL friends and internet friends separate. When someone new joins Twitter, your account may be suggested for them to follow if they, and Twitter, have access to your email and/or phone number. If you don’t want to be suggested to new accounts based on this data, you can disable your discoverability. Get all the details here.

Twitter is dedicated to promoting healthy and inclusive social conversations on its platform. Some new features Twitter is testing out include Safety mode, which aims to reduce disruptive interactions, and prompts that encourage users to pause and reconsider a potentially harmful reply. 

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TechCabal is surging ahead in 2022 and beyond 🚀 https://techcabal.com/2022/02/03/techcabal-is-surging-ahead-in-2022-and-beyond-%f0%9f%9a%80/ https://techcabal.com/2022/02/03/techcabal-is-surging-ahead-in-2022-and-beyond-%f0%9f%9a%80/#respond Thu, 03 Feb 2022 11:30:00 +0000 https://techcabal.com/?p=88429 Hello everyone, welcome to February.

You probably already know this — because we’ve mentioned it a few times — but TechCabal started off in a small room in Lagos many years ago. 2013 to be specific. It is safe to say that, nearly 9 years later, TechCabal has grown to become much more than a predictable technology blog or website. We’ve gone from reviewing gadgets to talking to Meta’s VP MEA and Turkey about facebook’s plans to transition into the metaverse. We are still optimistic about Nigerian founders and the Nigerian tech ecosystem. Still, we’ve covered high-impact entrepreneurs from other regions like Sudan, Egypt, Morocco, Senegal, and The Gambia in the last two years.

And we have no plans of slowing down. This year, we are hyper-focused on fine-tuning our editorial standards and establishing TechCabal as one of Africa’s most reputable technology and media publication. We will lead compelling conversations on hot-button topics such as decentralized communities, digital nomads, remote work, talent migration, and the new internet. Furthermore, expect us to spotlight more African founders innovating around draconian policies, internet shutdowns, and social media bans. Our coverage will expand into lesser-known regions, cities, and startup hubs.

For us, 2022 is about executing our goals, delighting our readers, and putting Africa’s technology ecosystem on the global stage. We hope we can count on you to support us along the way.


What is new?

Adegoke “Goke” Oyeniyi is no longer TechCabal’s editor-in-chief and has moved on to pursue some personal goals and interests. Goke joined the newsroom in January 2021 and hit the ground running almost immediately. He provided high-level oversight of TechCabal’s objectives, worked closely with our senior reporters, and drove editorial training weekly. He also contributed some well-researched articles to the newsroom; read his insight into rising Nigerian fintech startup, TeamApt.

Following Goke’s exit from the newsroom, I am stepping up to become TechCabal’s acting editor-in-chief, reporting directly to Tomiwa Aladekomo, CEO, Big Cabal Media. My new role comes with many responsibilities, but I am motivated by my team and goals this year. I also know I have the full support of Big Cabal Media’s leadership team and the entire organization.

Abraham Augustine is the most recent addition to our newsroom. He resumed on January 17th as a senior reporter. Abraham is a growth marketing specialist and creator who operates at the intersection of growth, marketing & startup enablement in Africa. Abraham manages a Substack newsletter called Money Myths Africa.

What has changed?

Last year, we brought in our first East Africa correspondent. Alexandria Williams joined the newsroom as a remote contract reporter. She wrote about Uber’s showdown against Kenya’s high court and a Kenyan comedian’s rise to digital fame during her time with us. Alexandria was accepted into one of DW’s journalism traineeship programs in December, so she will not be continuing as our East Africa reporter this year.

For your information:

Kelechi Njoku joined the newsroom as senior editor in November 2021. He’s an experienced editor with a literary and fine arts background. One of his most significant achievements was fine-tuning TechCabal’s style guide.

Muyiwa Olowogboyega joined Lemonade Finance as their content manager in October 2021. He was a senior staff writer at TechCabal for 1 year and 8 months. Muyiwa co-authored TC Daily with Daniel Adeyemi.

Alexander Onukwue joined Quartz Africa as their West Africa correspondent. He was a staff writer at TechCabal for almost 2 years. He also wrote TechCabal’s Next Wave newsletter for an extended period.

Storytelling and coverage (TechCabal 3.0)

On storytelling and reporting, TechCabal is still committed to capturing the players, human impact and business of technology on the continent. We are even more dedicated to covering more regions, including North Africa, South Africa, and francophone Africa. TechCabal Insights team will continue to provide up-to-date content, reports, data, events, and context to help the world understand how technology is changing Africa. We will publish deep dives on cryptocurrency, the metaverse, DAOs, decentralization, policy, regulation, and big tech operators in Africa.

What is coming soon?

Newsletters

TechCabal has plans to launch some new newsletter products. Sadly, we cannot reveal the details, but keep your eyes peeled for more information in TC Daily or Next Wave.

Flagships

Kelechi Njoku will revive My Life in Tech (MLIT) in the coming weeks. MLIT is a flagship launched by Kay Uguwede, a former TechCabal staff writer. After Kay’s exit from the newsroom, Edwin Madu took over MLIT during his time as senior editor in the newsroom. He is currently Zikoko’s editor-in-chief.

Sultan Quadri and Timi Odueso will revive Digital Nomads by the end of February this year. Digital Nomads was launched and exclusively written by Olumuyiwa, a former senior staff writer at TechCabal.

Extra hands

In 2022, we will recruit senior editors, reporters, and regional correspondents. In addition, we will report on more countries outside Nigeria, Ghana, and West Africa. Nigeria has quickly become the poster child for fast-growing startups and the top recipient of foreign investments. But Kenya, Egypt, and South Africa are following closely behind. Egypt is home to the most accelerated startups and founders on the continent. By bringing in analytical thinkers and on-the-ground reporters, we’ll be able to tell more compelling stories about the impact of technology in these newer regions.

Thank you!

Well, that’s about it from the newsroom. As always, we are immensely grateful for supporting and betting on us through the years. Thank you for falling in love with our newsletters, reviews, flagships, columns, tweets, and contributions. We hope to delight you even more in 2022 and beyond.


TechCabal is a pan-Africa media and technology publication. We cover the human impact of technology in Africa and how innovation is changing the business landscape on the continent. Our current coverage areas include West, East, and North Africa. 

Follow us on Twitter, Instagram, LinkedIn, and Facebook. Say hello, and we’ll share a fun article with you 😄

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The Next Wave: Naira is still naira 👀 https://techcabal.com/2021/11/29/the-next-wave-naira-is-still-naira-%f0%9f%91%80/ https://techcabal.com/2021/11/29/the-next-wave-naira-is-still-naira-%f0%9f%91%80/#respond Mon, 29 Nov 2021 09:30:00 +0000 https://techcabal.com/?p=86016
Source: TechCabal

November 29th 2021

The Next Wave provides a futuristic analysis of BizTech and innovation in Africa. Subscribe here to get it directly in your inbox on Sundays at 3 PM (WAT).


Hey everyone, it’s Koromone. I hope this newsletter edition finds you avoiding the Omicron variant like the way US billionaires avoid paying taxes.

Until the much-anticipated launch of the eNaira, Nigerians dealt with Naira in one form: paper. And try as the CBN did to enforce a cashless policy in the country, Nigerians were not having it

Primarily because Nigeria is a low-trust society, which means we prefer to exchange currency in a tangible way. And also, cash is still king in Africa. The cashless policy was introduced in 2011 and piloted in Lagos a year later. Since 2012, commercial banks and a few financial institutions, like Paga and TeamApt, have set up thriving agency banking businesses and POS shops across the country.

Agency banking and POS shops are driving a cash-friendly economy, the total opposite of what CBN set out to do when they introduced it more than a decade ago. 

Boluwatife Sanwo – TechCabal Insights

Our economy uses too much cash for transactions for goods and services, especially for buying and selling. This is not how it is done in other progressive countries of the world where there are other payment options like; Debit and Credit Cards, Bank Transfers, Bank Direct Debits, Automated Teller Machines (ATMs), and even Mobile Phone Money.” – The Central Bank of Nigeria.

Since the cashless policy was introduced to reduce, and not eliminate, cash usage, agency banks can drive financial inclusion using grassroots methods.

Despite the CBN-imposed fees and limits designed to control how frequently Nigerians deposited and withdrew cash, Nigerians remain undeterred. They refuse to change their relationship with paper money.

I’d like to give a special thanks to Adebiyi Aromolaran for bringing some guidance and insights into today’s edition. Adebiyi is currently Head of Africa Expansion at Dlocal, a payments company building solutions for emerging markets. He also oversaw expansion and compliance at Flutterwave a few years ago. 

Let’s talk about the potential of the eNaira. 


Partner Message

Source: Flutterwave

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Why eNaira? Why not eNaira?

The eNaira is a gamechanger, but its impact won’t be felt immediately. The CBN still has time to think through several aspects of the currency’s unique selling point (USP) and present its value in a clearer way. Where remittances inflow is concerned, one way the CBN can drive innovation in that sector is to replace cash pick-up with eNaira wallet credit.” – Adebiyi Aromolaran

ICYMI: Two weeks ago, Davido, a widely popular and influential Afrobeat singer and entertainer, tweeted his Wema Bank account details and asked his friends to donate 1 million naira ($1,720) to his birthday fund. It was an audacious tweet, considering Davido’s wealth status and fame; but in true social media fashion, the tweet went viral and set off an unconventional chain of events:

  • Davido received over ₦150,000,000 (~346,000) in 24 hours.
  • Wema Bank sent a few of its team members to visit Davido, who was in Dubai when he sent out the tweet.
  • ALAT, a digital bank powered by Wema Bank, tweeted for the first time since Twitter was banned in Nigeria.
  • Davido released a statement revealing plans to donate 100% of the fund to orphanages across Nigeria.

As with everything that involves money and Nigerian Twitter, responses to Davido’s demand were peppered with astute commentaries about ethics and wealth, and witty jokes. Like this one from Fisayo Fosudo, a Nigerian visual storyteller and video creator:

Source: Fisayo Fosudo
Source:Fisayo Fosudo

In a perfect financial situation, Davido should have used his eNaira wallet. But there are still several growing concerns around the validity of the eNaira and why the CBN is the custodian of the electronic currency. 


Partner Message

Source: SCIP Africa

The SCIP Africa team will host a physical Boot Camp for the selected startups in Kigali, Rwanda on the 22nd of November to 26th of November, 2021. Find more information about #SPICAfrica here.


‘Same Naira. More possibilities’

Same Naira. More possibilities” – this tagline can be found on the eNaira website. Trite as it is, I wonder how many Nigerians would agree that the eNaira comes with many possibilities.

Has the CBN done an excellent job of explaining the value of the digital currency? Or how important it is for a large chunk of Nigeria’s financially literate population to loosen their grip on the paper naira and adopt its digital equivalent instead?

In order for us to fully appreciate the value of the eNaira, we need a better understanding of how the digital currency works and why it matters to individuals, merchants, vendors, and financial institutions. 

Boluwatife Sanwo – TechCabal Insights

What CBN has done with the eNaira is that they’ve closely mirrored how commercial banks manage KYC requirements for new customers. Opening an eNaira wallet for individuals comes with a three-tier process; the same rules still apply, regardless of the naira’s form,” said Aromolaran on a call with TechCabal.

Let’s not forget the currency is still naira, paper or electronic. And the only way to purchase any amount of eNaira requires you to get it through your bank. At any point of the exchange, eNaira customers are swapping one form of naira for another. The truth is, the CBN hasn’t clearly defined its own role within the digital currency ecosystem. They are delving into waters they aren’t familiar with and have to work within their internal limitations and capabilities as regulators.”

Setting sentiments aside, there are intelligent and innovative people who have been employed by the CBN. And contrary to unpopular opinion, some CBN regulators and operators aren’t at war with technology’s growing popularity within Nigeria’s fintech ecosystem. But the apex bank is also responsible for creating and awarding licenses to emerging and established financial institutions in the country. Banking with regulators is a complicated marriage for many Nigerians.


Have a great week

Thank you for reading the Next Wave. Please share today’s edition with your network on WhatsApp, Telegram and other platforms, and reply to this email to let us know what we can be better at.

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Koromone Koroye, Managing Editor, TechCabal

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