DD
MM
YYYY

PAGES

DD
MM
YYYY

spot_img

PAGES

Home Blog Page 5274

See Tekedia Capital Deals and Co-Invest with Us in This Cycle

0

Next week, we will release the startups we  will be investing in this Tekedia Capital investment cycle. One is so amazing that we had to give it money to file a US patent, out of Lagos. We have posted its demo in the Board for members to see what young Africans are building. These guys combined mathematics, artificial intelligence and computer vision, to create a clear category-king in their domain.

When you say mathematical prodigies going for alpha, you get the message. I invite you to join our syndicate and own a piece in Africa’s most amazing startups. On March 16, the cycle opens; now is the time to register here 

Tekedia Capital offers a specialty investment vehicle (or investment syndicate) which makes it possible for citizens, groups and organizations to co-invest in innovative startups and young companies in Africa and around the world. Capital from these investing entities are pooled together and then invested in a specific company or companies.

Ghana’s Fintech Startup, Dash, Raises $32.8m to Build Interoperability for African Mobile Wallets

0

Dash, Ghana-based unified payments app has announced that it has raised $32.8 million in an oversubscribed seed round to facilitate interoperability for digital payments platforms in Africa.

The round was led by New York-based Insight Venture Partners. Other investors in the round include Global Founders Capital and 4DX Ventures, who participated alongside ASK Capital, Techstars, Guillaume Pousaz’s Zinal Growth Partners, Jitendra Gupta of Jupiter Money, Amrish Rau of Pine Labs, the founders of Moss, executives from ProcessOut and the founders of PennyLane.

The deal, which ranks among the largest in Africa, will help in building a Mastercard and Visa sort of intermediary services for mobile payment wallets across Africa. The startup said it will use the fund to expand to new markets such as Tanzania and South Africa, get the licenses needed to operate there, build out its team, invest in technology and launch new features.

Dash was founded by its CEO Prince Boakye Boampong in 2019, who was inspired by the boom of mobile wallets-based payments he witnessed in Kenya back in 2014. Boampong, who is also the founder of OMG Digital, a YC-backed Ghanaian media startup, saw lack of interoperability in the booming mobile wallet-based transactions across Africa as a huge friction that needs to be fixed.

“I was blown away by the ubiquity and convenience of mobile money in 2014 when I visited Kenya for the first time. However, there are over 200 mobile money wallets and 100 banks across the continent that [do] not work with each other,” the chief executive officer told TechCrunch.

As TechCrunch noted, while the mobile wallets like MTN MoMo and Safaricom’s M-Pesa, command millions of users in Ghana, Kenya and Nigeria; a Kenyan who uses M-Pesa and travels to Ghana finds it difficult to send money to a Ghanaian who uses MTN MoMo in Ghana, because both mobile money operators don’t permit transactions between each other. This means when they travel, they need to swap currencies or switch to the mobile money app working in their destination.

Dash’s idea is to create a network where mobile money and traditional banks can rapport and facilitate transactions for consumers and businesses. Just like Visa or Mastercard, Dash routs payments through banks and telcos regardless of who issued it. This means mobile wallet users in Ghana, Nigeria and Kenya, where Dash’s service is operational for now, can connect their bank or mobile money accounts to Dash, pay bills, and send and receive money to other users while the platform handles currency conversions.

“We’re building this interoperability so a Kenyan traveling to Ghana or Ghanaian travelling to Kenya would be able to pay for stuff without having to change currencies or setting up accounts when they touch ground,” Boampong said. “We’re taking a page from AliPay and PayTm by building features that will make the lives of our users easier without having to switch from different providers.”

Dash closed first closed its seed round in October. It was reopened as investors’ interest in the startup rocketed, with an $8 million seed fund and 200,000 users said to have executed transactions worth $250 million.

“The company makes revenue from processing fees, savings (interest earned when users save), FX fees when Dash is used cross-border, bill payments (commission earned when users pay bills on Dash) and subscription (for Dash+, its premium service).”

The revenue from these avenues paints a bright future for the startup as its volume of transactions increases. Dash said it processed over $300 million in TPV in January, up 300% monthly from Q4 2021. Boampong said in total, it has processed over $1 billion since its launch in 2020 from 1 million customers the company has acquired from Ghana, Kenya and Nigeria.

Are We Your Slaves? Pakistan Slams West Demand To Condemn Russia

0

On March 1, the heads of 22 foreign missions to Islamabad, including those of EU member nations, issued a joint letter requesting Pakistan to back a UN General Assembly resolution denouncing Russia’s special operation in Ukraine. This letter didn’t sit well with Pakistan prime minister Imran Khan as he slammed the Western envoys that visited his country’s capital urging his country to denounce Russia’s special military operation in Ukraine last week, asking them if they think Pakistan was their slave.

In his words, “What do you think of us? Are we your slaves that whatever you say, we will do?” Imran Khan made this statement while speaking at a political event. It was disclosed that while several countries voted at the UNGA condemning Russia’s invasion of Ukraine, Pakistan abstained from voting as well as their political rival India. Imran Khan was said to have asked the European Union ambassadors a question concerning their political rival nation India.

In his words, “I want to ask the European Union ambassadors, did you write such a letter to India?” Khan asked this question over his claims that Europe has failed to condemn India over Kashmir, a mountainous region where Pakistan and India have fought two wars. The Prime Minister added that Pakistan has suffered as a result of its assistance to the NATO alliance in Afghanistan, and instead of thanks, they received condemnation. Khan and his administration were criticized after going ahead with a visit to Moscow in late February shortly before the special operation in Ukraine were declared and meeting Russian President Vladimir Putin just hours after the operation’s launch.

To be honest, I still do not understand the reason why Western envoys will issue a letter to a country or countries urging them to denounce Russia’s invasion of Ukraine. Every country has the right to abstain or condemn Russia’s attack on Ukraine. No country should be coerced to make rash statements that they might eventually have to regret. What the West fails to understand is that Russia has a very good relationship with quite a good number of countries which is why they will not condemn Russia’s attack on Ukraine.

Using Pakistan as a case study, they are good allies with Russia. Russia has already agreed to invest in the Pakistan Stream Gas Pipeline between Karachi and the city of Kasur in Punjab, a project worth more than $2bn that would greatly help service Pakistan’s ever-increasing energy demands once completed. On the political and security front, Islamabad has reason to seek closer ties with Russia now, especially after the US’s catastrophically executed withdrawal from Afghanistan in August last year.

Considering the good relationship Pakistan has with Russia, they would rather not condemn Russia which might affect their relationship, rather they will choose to remain neutral and collaborate with those working to end the conflict with Ukraine. On Friday, a spokesman for Pakistan’s foreign ministry reportedly stated at a press briefing that it was “not usual diplomatic practice” for western envoys to make public requests as contained in their letter.

I concur with the above statement because that is not the way diplomacy is practiced, taking sides will only aggravate things. Diplomacy is most importantly used to complete specific agendas. Therefore, in the absence of the practice of diplomacy, much of the world’s affairs would be abolished, and above all the world would be at constant war. It is because of diplomacy that certain countries still exist in peace and harmony. Diplomacy is a veritable means for conflict resolution.

Instead of taking sides, both countries should be called to a round table to mediate between them to broker peace and diplomatically reach an agreement for a ceasefire. No country should be forced to take sides, that should be the ideal thing to do. Countries who have abstained from denouncing Russia’s attacks on Ukraine might not necessarily be in support of their invasion, but they are only abstaining to preserve their relationship with Russia which is beneficial to their country and its economy.

Just like the Pakistani leadership is looking to urgently stabilize the country’s inflation-hit economy by increasing domestic production and attracting foreign investment. To achieve its economic goals, Pakistan is aware that it needs to maintain regional peace and avoid getting entangled in the expanding mesh of global power politics.

Why Nigerians Must Be Politically Vigilant

0

The last time I checked, there was a good and convincing reason for Nigerians in their entirety to become very vigilant, political wise. As I write, such a mode of attitude expected of them is still highly needed.

It’s not anymore news that the heat is on at the moment across every nook and cranny of the country and beyond. Even a-day-old child can testify to the fact that Nigeria is currently being heated by all the political gladiators and statesmen within.

The situation has continued unabated for quite some time now, especially since we entered 2022, that you wouldn’t be surprised if you are welcomed with political talks, rather than kola, whenever you pay a visit to any of your relatives or friends, as might be the case.

Even in most schools, presently, teachers have resorted to discussing politics in the classroom when they are meant to impact knowledge on their students. The level of the melodrama has made the learners prefer the former to the latter.

The circumstance has become so intense that our various worship centres are not exceptional. The clerics, now, have abruptly become fond of analyzing political happenings right from the altar while standing before the congregation. It suffices to say that they have thrown the duty of preaching the gospel to the waste bin just for the sake of politics.

The way and manner the incidence is trending has ended up causing further confusion among the citizens of the country that possess electoral value, popularly known as the electorate.

Most of this set of Nigerians who are eligible to cast votes during polls are right now apparently faced with a dilemma that they do not even know where to go from here or the next step to take.

The situation is quite appalling because if it continues, I’m afraid, the impending elections might end up in shambles come 2023. It is so bad and disheartening, because its effect does not in any way augur well for the country.

It’s, therefore, needless and inconsequential to reiterate that the emergence of this piece is solely informed by the compelling need for every Nigerian – both at home and in the Diaspora – to be politically vigilant. They must be very vigilant at such a critical and sensitive era like this towards ensuring they aren’t consumed by the foreseen ocean wind.

A vigilant person is always alert and conscious. He or she is invariably prepared to withstand any pressure irrespective of nature. A vigilant individual is at all times ready to overcome any challenge that comes his or her way. Above all, he/she is ever awake; in other words, such a person does not fall asleep unnecessarily.

Nigerians must unequivocally stop being carried away by frivolities. They must at this point start facing realities. They need to, at all cost, overlook anything that could make them begin to think or act in a weird manner. They must be ready to repulse all odds.

It’s clear that a thousand and one persons are presently nurturing interest to lead Nigeria come 2023. On the other hand, countless individuals in the country are also warming up to occupy one elective political post or the other outside the presidential position.

Funnily enough, most of these aspirants have no vision and mission. It’s needless to assert that they are creating awareness only to distract the mindsets of the concerned Nigerian citizens.

The electorate needs to fish out such a set of unserious aspirants and discard them completely just as they would do when their households are littered with banana peels. There’s an urgent need to realize these unwanted individuals in their midst before it becomes too late.

It’s pertinent to acknowledge that the good people of Nigeria cannot be able to fish out the bad eggs if they fail to be vigilant. Vigilance, in a nutshell, is all about carefulness; it is a careful attention that one gives to a situation in order to notice any danger, trouble or anomaly that may arise.

So, the above paragraph signifies it takes only careful Nigerians to realize those who have come to devour their flesh. Thus, I urge them all to be, and remain, extra careful come rain come shine. They must not allow themselves to be deceived or used regardless of the tactics the politicos deploy.

Do not sell your conscience for a mere penny. Your future ought to be a thing of paramount concern at the moment. So, if the future matters most to you, no one born of a woman can cajole you to betray your conscience. You must, therefore, be wise and focused.

Inter alia, as Nigerians vigorously prepare themselves towards embracing the polls, they shouldn’t forget the fact that the Permanent Voter’s Card (PVC) remains the power of all the electorate. This implies anyone who is yet to obtain their PVC but intends to vote at the polls is, to say the least, only deceiving him/herself.

Hence, at this juncture, I enjoin any Nigerian who hasn’t grabbed their PVC, to hurriedly walk up to any centre of the Independent National Electoral Commission (INEC) nearest to him/her with a view to doing the needful. Registration and revalidation of the PVC is now reportedly ongoing, thus you have absolutely no reason to tender an excuse.

On their part, the various institutions – including religious, educational and traditional – must equally be very careful. It’s their civic obligation to conscientize their wards on the need to support, or vote for, an aspirant based on his/her competence, background and antecedents instead of laying emphasis on party or social affiliations.

Anything contrary to these expectations is totally an aberration, hence the need for Nigerians to strongly concentrate on only the needful at all times.

Breaking: Sunday Ighoho has been released

0

The renowned Yoruba Nation campaigner and activist, Sunday Adeyemo, popularly known as Sunday Ighoho, has been released by the Government of Republic of Benin.

The Chief campaigner of Yoruba nation’s  independence under the body  of Ilana Omo Oodua Worldwide was announced in a statement issued by the group’s official spokesman on Monday to have been released by the Beninese government. In the official statement issued by  Ilana Omo Oodua’s spokesperson, Mr. Maxwell Adeleye, which was titled, ‘Yoruba Nation activist, Sunday Adeyemo Ighoho released to Yoruba leader, Banji Akintoye”. 

How and Why Sunday Adeyemo Igboho was arrested: 

Sunday Igboho who has been in the black book of the federal government of Nigeria  due to his anti government rallies and campaigns carried out in some big cities of the south western region of Nigeria. The campaigns and rallies which have recorded a massive success and gathered a huge crowd of  followers are primarily centered on agitation for  self determination and self  governance of the South western region; basically, independence of the south western region (the Yoruba nation) from Nigeria. 

On 1st of July, 2021, Sunday Igboho’s Ibadan residence was attacked by the security forces of the federal government with the intention of capturing the Yoruba nation activist and arresting his close associates and enablers. 

During the bloody operation by the Department of State Services, two of Sunday Igboho’s close associates (including his chief priest)  were killed in the crossfire while 13 of his associates were captured and taken to the DSS headquarters in Abuja for detention but Sunday Igboho the main target managed to escape with his wife. 

After this “mystical” escape of the raid by Sunday Igboho, he fled the country en route to Germany through the Benin republic to seek asylum with his wife. He was captured in Cotonou, Benin republic with his wife on the 19th of July, 2021. His wife has since been released but he has been kept in the detention in Benin republic where the government of Nigeria has been lobbying the Beninese government for him to be extradited to Nigeria. 

After the raid of July 1st, the security forces also claimed to have recovered  seven AK-47  rifles, three pump-action guns, 30 fully charged AK-47 magazines, 5,000 rounds of 7.62mm ammunition, five cutlasses, one jack-knife, one pen knife, two pistol holsters, a pair of binoculars, a wallet containing $5, local and international driving licences in his name, ATM cards, a German residence permit No. YO2N6K1NY bearing his name, two whistles, 50 cartridges and 18 walkie-talkies, numerous  charm jackets/traditional body armour, two laptops, one Toshiba and one Compaq laptop, Igboho’s passport and those of his aides.

These items were presented and duly recorded by the Department of state security. 

The 13 aides of Sunday Igboho that were arrested during the Ibadan raid at the activist residence were later released after a court injunction ordering for their release from the DSS detention.