TechCabal Every day – TikTok just isn’t a Kippa

27 JANUARY, 2022

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Good morning 🌄

It’s not Friday however I’m going to share a couple of job alternatives right here. 

At BCM—Zikoko, TechCabal, TC Insights and Cabal Inventive—we’re searching for a couple of superstars to return assist us crack folks up.

We’re hiring a Software program Developer to assist us develop the techy a part of our merchandise, and two Gross sales Associates to assist us hunt for companions who can profit from what we promote—delightfulness. 

Be part of the Cabal or if you realize anybody who matches the invoice, ship them our method.  

Keep in mind, those that develop collectively, glow collectively.

In as we speak’s version

  • The race for Ibadan
  • From Tiktok to Kippa
  • Now enjoying: Renting NFTs 
  • Occasion: What’s within the Nigerian Startup Invoice?
  • Alternatives

THE RACE FOR IBADAN

On Monday, Uber introduced that its two-wheeler service, UberMoto, will start operations in Ibadan, Nigeria’s third-largest metropolis. 

Why is that this vital?

Effectively, as a result of many bike-hailing providers now have their eyes on the state. Most bike-hailing providers had been centred in Lagos, Nigeria’s most populated metropolis, however a authorities ban on tricycles and bikes in 2020 despatched them rolling away. 

Now, most are steering their consideration in direction of Ibadan. Ibadan has a inhabitants of three.5 million so there’s a requirement for reasonably priced and quick transportation. It additionally has shut proximity to Lagos, about 137 kilometres, which implies that most providers that launched in Lagos may simply port to town. 

So who’s within the race?

Uber, after all. There’s additionally SafeBoda, MAX.ng, Gokada, and ORide. 

Whereas gamers like ORide, Gokada, and MAX.ng launched their bike hailing companies in Lagos and later moved to Ibadan, SafeBoda kicked off its 2019 growth into Nigeria in Ibadan. By April 2021, SafeBoda had accomplished over 1 million rides with over 2,500 drivers and 40,000 clients in Ibadan alone.

In whose seat do the passengers sit?

The race for Ibadan’s market share hinges on whichever participant can provide drivers the very best phrases and riders superior consumer expertise at reasonably priced charges. 

Thus far, it appears UberMoto seems to be doing higher on the pricing stage. “A ₦300 ($0.72) journey on SafeBoda may go for round ₦200 ($0.48) on UberMoto. However I believe Uber continues to be considerably cheaper as a result of the service is new,” a consumer mentioned. 

FROM TIKTOK TO KIPPA

Leaving a budding profession at social media behemoth that has huge ambitions on your house continent, to launch a startup, seems like a profession suicidal transfer. However for 23-year-old Kennedy Ekezie-Joseph who co-led TikTok’s foray into Africa, it wasn’t. That a lot turned clear when his startup attracted file seed funding.

Ekezie-Joseph’s startup, Kippa, is a bookkeeping and finance app that he based along with his brother, Duke Ekezie, and Jephthah Uche in February 2021. It has had a meteoric trajectory since its launch in June.

Backstory: At 16, Ezekie-Joseph was a high worldwide debater and had based a social enterprise that labored to finish the follow of feminine genital mutilation and enhance entry to training for younger women in Nigeria.

He was an early recipient of the distinguished Yenching Scholarship and holds a masters diploma from the elite Peking College in Beijing, China. He’s a two-time TEDx speaker and a Barack Obama Younger African Leaders Fellow. All these experiences, together with leaving TikTok, gave Ekezie-Joseph huge ambitions which birthed Kippa.

It’s a Kippa

Kippa offers SMEs with free, easy-to-use accounting software program. The corporate makes use of their books to find out which companies qualify for financing, and fees curiosity on the credit score.

In November final 12 months, Kippa raised $3.2 million in pre-seed funding, arguably one of many largest early-stage fund-raises in Africa.

So far, greater than a billion {dollars} in transactions have been recorded by the platform, in response to the founders.

On this article, Damilare Dosunmu digs deeper into Kippa’s story and the founder’s journey to this point.

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That is accomplice content material.

NOW PLAYING: RENTING NFTs


Whereas folks throughout the globe understandably wrestle to grasp what NFTs are all about, others are innovating across the digital idea. 

Within the newest innovation, folks are actually renting out NFTs, and the land token lords are raking in earnings from it. 

Wait, what?!

Effectively, folks play video games professionally, and so they earn from it too.

The world over, recreation gamers are actually renting NFT skins, creatures and instruments to make use of throughout gameplay. These sorts of NFTs are both a requirement for enjoying the sport like in Axie Infinity, or they provide the participant an edge like Sorare or The Sandbox

Whereas prosperous gamers can flat out purchase the NFTs wanted and acquire benefits, different low-earners need to hire in the event that they wish to compete on a worldwide stage. In renting NFTs in video games—an idea known as scholarship—people or corporations should buy these NFTs after which hire them out to gamers in alternate for a proportion of the gamers’ earnings. 

How big is the market?

Final 12 months, a number one lender, Yield Yield Video games, raised $4.6 million at a $3 billion valuation in a spherical led by VC agency Andreesen Horowitz. One other, GuildFi, raised $6 million

Every has a whole bunch of gamers who depend on the businesses’ libraries to assist advance their gameplay. 

The draw back?

NFTs are fairly costly to purchase, and so they’re simply as costly to hire. This Fortune article explores how the scholarship idea is exploitative as a result of—like all the things else—it targets low-earners. Some lenders like Axie College cost gamers as much as 60% of their earnings as hire. 

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That is accomplice content material.

EVENT: WHAT IS IN THE NIGERIAN STARTUP BILL?


Early final 12 months, stakeholders in Nigeria’s tech ecosystem started talks round the necessity for a invoice to manage startup actions within the nation. Not too long ago, the invoice was accepted by the nation’s Federal Government Council and has moved to the Nationwide Meeting to be signed into legislation. 

To assist the startup group perceive the important thing provisions of the invoice, the NSB is internet hosting startups and different stakeholders throughout the trade to a webinar this Saturday, Jan twenty eighth at 12 PM (WAT).

At this occasion, stakeholders will study the content material of the invoice, the way it adequately represents their pursuits, and the way they’ll greatest place themselves to benefit from the invoice’s provisions.

Talking on the occasion are:

  • Davidson Oturu – Accomplice/Head of Tech, Aelex Authorized
  • Ifeoma Uddoh – Technique Lead, Shecluded
  • Temi Awogboro – Government Director, Evercare Hospital
  • Deji Sarumi – Co-founder, Tech Hive
  • Eloho Omame – Co-founder, FirstCheck Africa
  • Yewande Adewusi – Regional Director, BBC Africa

Register right here to attend.

OPPORTUNITIES

  • The Japan Worldwide Cooperation Company (JICA) has introduced the second Subsequent Innovation with Japan (NINJA) competitors 2022. The competitors is open to Tanzanian startups (revenue and non-profit organisations) which have revolutionary merchandise, providers or enterprise fashions adaptable to social points/issues within the sectors of agriculture, well being, water, power, transportation and industrial growth. Chosen startups with obtain as much as $8,500 in grants, in addition to technical assist. Test it out
  • The Hacklab Basis Developer Survey is now open to anybody who needs to assist present an open database and actionable insights on builders in Ghana. Responses to the survey can be anonymised and responders can be eligible to obtain GHs 500 ($80) and souvenirs from the Hacklab Basis. Share with Hacklab
  • The City Modern Problem for Rising Cities is now open to functions from entrepreneurs constructing real-world urbantech options. Early-stage startups and groups primarily based in Lagos, Nairobi and Kigali can apply to get the chance to change into Know-how Pioneers on the World Financial Discussion board, and $25,000 price of AWS credit. Construct right here
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Be taught extra.

That is accomplice content material.

What else we’re studying

  • Uber is being sued for $63 million by a person who was paralyzed in a crash.

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Written by – Timi Odueso, Damilare Dosunmu & Mobolaji Adebayo

Edited by – Kelechi Njoku

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