Tag: africa

Jumia might be on the verge of a collapse, MTN not selling stake share

Jumia might be on the verge of a collapse, MTN not selling stake share

Business, Startups, Technology
Venture Beat reports that Jumia, one of Nigeria’s largest online retailers has allegedly laid off 300 of its workers in Nigeria, which accounts for about 30% of its 1000-person workforce in Nigeria. This has raised concerns as to whether the end is near for the online retailer and what this could mean for the Rocket-funded e-commerce outfit. The major investor in Jumia, Rocket internet has a reputation for downsizing. In a similar event, Rocket Internet closed some of its offices in Turkey  in 2012, firing 400 workers in the process. While a similar event may be playing out in Nigeria, Kaymu (another Rocket Internet portfolio company) closed its Zambia office. Citing “macroeconomic reasons,” the online shopping platform shut down its operations in Zambia at the beginning of the month.
UK Looks to Ambitious new Innovation Partnerships with African countries

UK Looks to Ambitious new Innovation Partnerships with African countries

Startups, Technology
A series of ambitious new Innovation Partnerships between the UK and Africa are expected to stimulate significant economic growth and support the creation of thousands of new jobs. The partnerships, announced by the Prime Minister as the UK strengthens ties with the region, will be established in African countries with growing tech sectors where there are young, expanding populations with ideas and innovations developing at a rapid pace. Building on the UK’s already-strong investment in science and research in Africa, the partnerships will enable UK and African entrepreneurs to share skills and ideas, and encourage future trade. The increased engagement comes after the Department for International Trade announced the appointment of a dedicated HM Trade Commissioner to Africa. Emma W
UN drives for cross-border mobile money transacting

UN drives for cross-border mobile money transacting

Business, Mobile
A United Nations agency and the African Union (AU) are pushing for cross-border mobile money payments to boost electronic trade on the continent. The AU has been piloting the use of a common payment system in the Economic Community of West African States (ECOWAS) region and is scheduled to roll out the same across Africa by the end of this year. The move is intended to facilitate interconnectivity between registered mobile money account owners within Kenya and across the continent, totaling 277 million according to a 2017 report. These represent 140 mobile money schemes across 39 countries. The roll-out of the common payment system will coincide with the commencement of trade under the Continental Free Trade Area expected later this year. The agreement aims to create a single cont...
African Accelerators increasingly targeting niche programmes

African Accelerators increasingly targeting niche programmes

Business, Internet
Accelerator programmes in Africa are increasingly going niche, targeting specific programmes targeted at startups in spaces such as fintech and health, instead of following the more traditional 500 Startups, Y Combinator, or, in Africa, 88mph models. But why are niche programmes suddenly so in vogue on the continent? Has the landscape changed since 88mph departed the scene after programmes in Kenya, South Africa and Nigeria that had mixed success? Do we yet know the real ingredients for a successful African accelerator? Adedana Ashebir is regional manager for Africa at Village Capital, which has run a host of focused accelerators across the continent, most recently a fintech programme with PayPal. She said niche accelerators allow entrepreneurs to share best practices and lessons lea...
STEM and its Influence in Africa Students

STEM and its Influence in Africa Students

Technology, Women
The current discussion of Africa’s heralded economic growth and rise as a world power is leading to increased optimism and self-confidence on the continent. As more African students become interested in dynamic careers that require skills that apply Science Technology Engineering and Math,  African nations have begun to accept the growing STEM educational opportunities that men and women are providing in their respective nations. STEM are applied educational initiatives that have a foundation in the scientific models, but integrate hands-on learning, team work, building leadership skills and incorporate higher order and critical thinking skills. The more African’s are involved in STEM the more they can assure they will have a stake in how their nations and continent are growing and in