Hey guys,
Happy weekend!
As usual, we are back to give you the latest in African and World Technology. Are you ready?
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Jumia’s Shares drops after Citron Research, Andrew Left Calls it ‘Obvious Fraud’
The opening words of Citron Research 12 pages PowerPoint Presentation called Jumia—African biggest e-commerce market, an ‘obvious fraud’. This provoked a reaction that has caused Jumia’s IPO on NYSE to fall at almost 20%. The controversy is that Jumia failed to include a piece of important information in their F-1 filing. They didn’t report that about 41% of their orders were either returned, not delivered or cancelled in 2018. Read More Here.
US-based Media Analytics, ‘Comscore’ brings Box Office Measurement to Africa
We follow up with the news that Comscore, a US media analytics company that provides reliable box office measurement data has expanded operations to nine African countries. This move will help film industries like Nollywood to establish a data platform that will monitor the accurate data on movie earnings. Find Out More.
Venture Capital Firm, ‘SoGal’ to Empower Female Entrepreneurs in Johannesburg
Another company has launched operations in Africa. This time around, it is the Los Angeles-based venture capital company, SoGal. The expansion to South Africa is a move to support female entrepreneurs in the country. The entrepreneurs will leverage this opportunity to access educational materials, webinars, global pitch competitions and mentorship. Read More Here.
Vanu and AMN Collaborates to Provide Network Coverage Across Sub-Saharan Africa
Speaking about partnerships, Vanu Inc. and Africa Mobile Networks have been working together to ensure network coverage in Sub-Saharan Africa rural communities. Vanu provides AMN with equipment, tools and services that allows Mobile Network Providers to serve rural communities. They recently announced a new deal that will push the total number of AMN’s order to over 3000 Vanu systems within two years of partnership. Read More Here.
MTN Nigeria Successfully registers 20.35bn Shares
Remember the gist on MTN and Nigerian Stock Exchange? MTN Group Limited has finally met all necessary requirements to list on the Nigerian Stock Exchange. From offsetting their debts to appointing the Emir of Kano and former Governor of the Central Bank of Nigeria, Sanusi Lamido Sanusi, they have also completed the registration of 20.35 billion ordinary shares at 2 kobos per share with the Securities and Exchange Commission. Read More Here.
Digital Equity Trading in Nigeria Goes International
A Nigerian startup, Trove Finance has built a micro-investing application that allows users to conveniently invest in international markets. Their technology takes away the stress and cost of contacting an affiliate stock brokerage before investing in foreign stocks. Find out more
Kenya’s ‘PortableVoices’ Opens Podcast Recording Studio in Nairobi
Moving on, ‘PortableVoices’ a Kenyan startup, has opened a podcast recording studio in Nairobi. Since launch in 2016, the startup creates podcasts and audio-visual educational resources that offer alternative learning experiences. This new studio will enable other podcasters conveniently curate contents. Read More Here.
Here is Why Nigeria’s National ID Card Scheme is Not Working
A company in Nigeria, Chams PLC recently released a controversial letter which is addressed to the Vice President of Nigeria. This letter threw insight on why Nigeria’s National ID has been delayed. Chams claimed that the reason the national identity management scheme has not been executed was that they were duped by Mastercard. Find Out More.
After Nearly 3 Years at Andela, Babajide Duroshola Joins Safeboda As Country Head
Safeboda, a Kenyan motorcycle ride-hailing startup has appointed Babajide Duroshola, the former Community Manager at Andela, as the Country Head in Nigeria. They are yet to disclose their commencement date. However, we know that they will face competition from the likes of Gokada and MAX.ng. Read More Here.
Nigerian State to Get an Electric Car Plant
Finally, Cross River State government in Nigeria has partnered with a Slovakian company, Sirieco, to build a Car manufacturing plant. Under this partnership, the government will offer; free location site, free tax exemption for 3 years; free Wi-Fi, and utility support services for the project. Read More Here.
There you have it for the Africa Tech News Roundup. Do check our website www.techgistafrica.com for more news and specials.
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Have a great weekend!