DD
MM
YYYY

PAGES

DD
MM
YYYY

spot_img

PAGES

Home Blog Page 5151

Congo-based Web3 Startup, Jambo, Raises $30m in Series A Round

9

Jambo, a Congo-based startup building a Web 3 user acquisition platform has raised $30 million in Series A funding round led by Paradigm, marking the native crypto investing giant’s first investment in Africa. Additional participation in the round comes from ParaFi Capital, Pantera Capital, Delphi Ventures, Kingsway Capital, Gemini Frontier Fund, BH Digital, Graticule Asset Management Asia, Shima Capital, Morningstar Ventures, and more.

The startup will deploy the funds into boosting its personnel strength by doubling its team across Africa by the end of the year to provide the critical talent required to educate the continent on the potential of Web3 technology. Also, Jambo has expansion plans as it looks to expand into 15+ additional cities by the end of the year to have over 200K active community members, students, and ambassadors affiliated with its educational efforts.

The startup will also look to improve its services as it looks to onboard engineers to build a Web3 super app that will enable Africans to trade crypto, buy and sell NFTs, experience play-to-earn crypto games, and access top-notch global web3 applications.

Founded in 2021 by siblings Zhang James and Zhang Alice, Jambo was created with the mission to onboard the next million (and potentially billion) African people to Web3. The startup is building the Web3 super app that will educate, bank, and entertain the continent. Jambo aims to pioneer the largest, most influential Web3 user acquisition portal across the continent and serve as the bridge between Africa and applications from around the world seeking to tap into the African market.

“As blockchain and fintech enthusiasts ourselves, we’re bullish on Web3’s potential to bring prosperity to every corner of Africa, where we are seeing the youthful, educated and smartphone-savvy population already embracing crypto at a rapid clip — Africa’s crypto market grew 1200% in value in the past year alone. Equipping the continent with the correct tools to better harness this disruptive technology, however, is no simple task,” James noted.

“As Paradigm’s first investment in Africa, we couldn’t be more excited to partner with the Jambo team in this next phase of growth. We see massive Web3 potential in Africa and it’s clear that James and Alice are uniquely positioned to build a durable on-ramp for the continent,” Casey Caruso, Investment Partner at Paradigm said.

Driven by the passion for true Web3 transformation in Africa, Jambo has revealed it will partner with others to launch the AfricaDAO investment fund to empower and invest in startups who share in its vision and mission to positively impact lives of millions across Africa for decades to come.

“We’re hard at work finalizing our ecosystem of Web3 apps and are excited to reveal more when the time comes,” James added.

The investment denotes the increasing acceptance of cryptocurrency, Non-fungible Token (NFT), the meterverse and web3 among African countries. Last month, the Central African Republic passed a bill to adopt bitcoin as a legal tender, making it the second country in the world, after El Salvador, to do so.

As Buhari Orders Cabinet Members Seeking Elective Positions To Resign

0

President Muhammadu Buhari, Wednesday, 11th May 2022, directed all members of his cabinet seeking elective positions to resign on or before May 16, 2022.

This was disclosed by the information minister, Lai Mohammed, at the end of this week’s Federal Executive Council (FEC) meeting presided over by the President.

Some of Buhari’s ministers who had indicated interest in elective positions come 2023, are Transportation Minister, Rotimi Amaechi who seeks to be president; the attorney-general, Abubakar Malami who seeks to be Kebbi State governor; Labour Minister, Chris Ngige who’s aspiring for presidency; and Minister of State for Education, Emeka Nwajiuba who also seeks to be president.

Meanwhile, it was reported by Buhari FEC meeting that Nwajiuba had already resigned as the Minister of State for Education, as the president commended his courage and the bold step taken. While the meeting lasted, Buhari had singled out Nwajiuba for braving the odds to quit to avoid conflict of interest, and said, “I expect other members of this council seeking to be President to resign with immediate effect”.

Buhari’s directive was made known on the day the Court of Appeal conditionally validated a section of the electoral law that mandates political office holders like ministers to resign before they can contest for elections or vote in party primaries.

The court of Appeal had voided the ruling of a High Court that nullified the controversial Section 84 (12) of the Electoral Act, 2022. Although the appellate court, essentially, validated the controversial law, it said it would have ruled otherwise if the main suit was properly brought before it.

The Court of Appeal in Abuja, on Wednesday, voided the judgment of the Federal High Court in Umuahia, Abia State, which nullified the controversial section.

Delivering its judgment, on Wednesday, a three-member panel of the appellate court headed by Hamma Barka, held that the Federal High Court, Umuahia, lacked jurisdiction to have adjudicated the suit, saying the plaintiff, Nduka Edede lacked the legal standing to have filed the case.

Earlier in the year, Buhari while signing the amended Electoral Act into law in February, urged the parliament to expunge Clause 84(12) of the Act.

The clause reads: “No political appointee at any level shall be a voting delegate or be voted for at the convention or congress of any political party for the purpose of the nomination of candidates for any election.”

The Court of Appeal said if it were to decide the case on its merit, the provision is unconstitutional because it is in conflict with Section 42 (1)(a) of the constitution. It stated that the controversial clause in the Electoral Act denies a class of Nigerians their right to participate in elections.

Buhari has made a good and commendable pronouncement that needs to be followed with strong actions. This would enable Nigerians to know who are really aspiring for elective positions, especially the Presidency, come 2023.

However, I wasn’t too comfortable with the ruling of the Appellant Court. How could it say the otherwise would have been ruled had it been the suit was properly presented? So, because the suit wasn’t aptly filed, the court refused to tender the actual ruling needed by the law?

The various Nigerian courts have, in recent times, been fond of causing confusing in the polity when are required to critically address matters of national importance. It’s indeed an aberration.

Musk Promises to Restore Trump’s Twitter Account If His Acquisition Bid is Successful

0

Tesla’s CEO Elon Musk said Tuesday he would rescind Twitter’s decision to ban former US President Donald Trump, when his acquisition bid becomes successful.

Restoration of Trump’s account was highly anticipated following Musk’s move to buy Twitter. The world’s richest man had said his motive is to make the bird app censor-free and many believe that would mean restoring banned accounts such as Trump’s.

“Permanent bans should be extremely rare and really reserved for accounts that are bots, or scam, spam accounts… I do think it was not correct to ban Donald Trump,” Musk said at FT Live’s Future of the Car conference. “I think that was a mistake, because it alienated a large part of the country and did not ultimately result in Donald Trump not having a voice.”

“I would reverse the permanent ban,” added Musk. “I don’t own Twitter yet. So this is not like a thing that will definitely happen, because what if I don’t own Twitter?”

Trump, like some other Republicans, were permanently suspended on Twitter for breaking the company’s policies. The former president was banned for using his account to incite the Jan. 6 2021 Capitol riot that resulted in the death of more than eight Americans. Twitter had justified its decision to kick Trump on the ground that it would stop him from using it to incite further violence. It said it “was the right decision.”

Twitter’s decision drew a mix of praise and condemnation. Other social media platforms such as Facebook took the same step. Trump claimed the Nov. presidential election was “stolen” after he lost his relection bid to President Joe Biden. Twitter was Trump’s preferred social media platform, where he had more than 80 million followers.

With Musk’s acquisition bid, other banned Republicans like Majorie Taylor Greene have been restored, signaling that Trump’s account may be lifted soon.

However, Trump has said that he has no intention to return to Twitter after being banned for more than a year. He had launched his own social media outlet called Truth Social, where he said he’d be using hence.

“No, I won’t be going back on Twitter,” Trump told CNBC’s Joe Kernen. “I will be on Truth Social within the week. It’s on schedule. We have a lot of people signed up. I like Elon Musk. I like him a lot. He’s an excellent individual. We did a lot for Twitter when I was in the White House. I was disappointed by the way I was treated by Twitter. I won’t be going back on Twitter,” Trump said.

Trump supporters have thronged to Truth Social since launch, buoying the company’s value. Last month, Truth Social ranked number one above Twitter on Apple Store’s apps’ chart, a sign that it may gather as much followers for Trump as he had on Twitter.

Musk had in April called “Truth Social” a terrible name and suggested that the app be named “Trumpet.” He said the social media platform exists only because Twitter censored free speech.

While Trump has publically stated that he is not returning to Twitter, people close to him say they expect him to return to the app, especially as it would be a major boost to his 2024 presidential ambition.

Per CNBC, White House officials and Democratic strategists have worried about a Musk Twitter takeover ahead of the 2024 presidential election. Some members of the Biden administration had become increasingly concerned that Musk would allow Trump and other Republican operatives who were banned from the platform to return.

Twitter said its ban policy is based on the need to promote healthy conversation on its platform.

Arthur Nzeribe – The Man Who Lived Lives

0

He was an enigma. He was a unique human breed. He was as rich as Nigeria, but off by mere “N25”, we were told in primary school. He was rich and very very rich. He was mercurial. He supplied arms to Iran and Iraq at the same time. He was larger than life. His name is Arthur Nzeribe. Check political sagacity. Check strategist. Check Love of Hometown. He died this week.

My first business letter was addressed to him. I was in my first year in secondary school. My mother and other women had just founded a petty trading association, Umu Nwanyi Ekete (women who make money via baskets) . A local politician had told them to apply for financial support to the Arthur Nzeribe Foundation.

I assisted as the women dictated what they wanted from the Foundation. I wrote that letter, possibly not following any order in business communication. But Nzeribe, the philanthropist, surprised them: he released funds to them. The women had wanted to have a trust to insure one another where health issues or other emergencies would not push members any member into poverty. They have more than 4,000 members today covering many parts of Isuikwuato LGA Abia State; you do not need to be a trader anymore, though.

Arthur Nzeribe inspired and also confused, with contradictions. Personally, he was an inspiration as a kid in Ovim. He was once in our village school and we met a man who was as rich as Nigeria, but for “N25”.  But he also confused me as he partied with the evil genius, IBB.

Nzeribe was 83.

ASUU Strike, Nigerian Polytechnic Lecturers Declare Warning Strike

0

After the Academic Staff Union Of Universities, ASUU yesterday extended its strike action to 12 weeks due to its unmet demands by the federal government, this act has infuriated the National Association of Nigerian Students (NANS) to commence a nationwide protest, tagged “operation test run”.

They have vowed to disrupt all political activities and shut down federal roads in the country via a protest, pending when the federal government finally meets the demands of ASUU. Members of NANS have disclosed that the lackluster attitude of the federal government to meet the demands of ASUU has left them with no choice but to shut down federal roads and disrupt political activities.

They have further warned the government to stay clear of their actions, as they vent their grievances. In a response to NANS threat and actions, the president of the Senate, Ahmad Lawan, has come out to appeal to the union through its representatives, not to disrupt political activities.

He appealed to them to shun resorting to violence, urging them to continue on the path of consultation and avoid confrontation. In his words, “I want to advise, I don’t think it will be necessary to disrupt political activities. We shouldn’t do that and we don’t need to do that. What we need to do is to continue to follow the path of consultation, and consolidation and avoid confrontation. It is when you emphasize consultation, that it’s much easier for us to find something that you can consolidate”.

He however assured them that the senate was going to work towards ending the strike as soon as possible. It is disheartening, to see the way the future of young Nigerians is toiled with. Unfortunately, incessant strike actions have become a part and parcel of federal universities in Nigeria, distorting the academic activities of young Nigerians which has affected them in so many areas.

Those saddled with the responsibility of ensuring that the Educational sector is properly funded and handled effectively, have the effrontery to purchase expression forms for outrageous amounts. The minister of education for state, Emeka Nwajiuba joined the long list of politicians who purchased the presidential form, meanwhile, ASUU is on strike. This act is nothing but a misplaced priority.

It shows that these political class do not have the issues of the people at heart, rather, they are all about satisfying their selfish desires. The educational sector continues to remain poorly funded, and these politicians wonder why the country’s economy has not improved.

How can a nation’s economy improve when the educational sector is in shambles? A close observation of developed and developing nations, one will notice that they properly fund their educational sector, thereby maintaining high standards.

With the strike action by NANS, it is evident that frustrations have begun to set in among these students, and the government must understand that with such grievances, these students won’t hesitate to carry out dastardly acts in society. In other to avoid such from happening, there should be an urgent response to the demands of ASUU.

According to information gathered, it was disclosed that the polytechnic lecturers are also set to down their tools as they still have some unmet demands. This is appalling! It’s high time the presidency and other political officials put aside their electoral charade and attend to the pressing issue of the ASUU strike before it degenerates into something unpleasant.

The Nigerian polytechnic lecturers under the umbrella of the Academic Staff Union of Polytechnics (ASUP) have declared a two-week warning strike with effect from Monday, May 16.

This position was contained in a statement signed by the union’s president, Anderson Ezeibe, and dated May 11, 2022.

The statement noted that the decision was taken at its 102nd emergency national executive council meeting held in Abuja on Wednesday.

The union said the decision became imperative following the failure of the government to implement the Memorandum of Action (MoA) signed in June, 2021, which informed the suspension of its two-month strike at the time.