Guaranty Trust Bank Plans to Acquire a Kenyan Bank

Group Managing Director of GTBank, Segun Agbaje

As part of efforts aimed at expanding its continental footprints, Nigeria’s biggest lender by market value, Guaranty Trust Bank (GTB) plans to acquire a Kenyan bank to deepen its foothold in the East African region. The move which forms part of its overall post Covid-19 recovery strategy will help grow the bank into a leading lender in the continent.

Group Managing Director of GTBank, Segun Agbaje
Group Managing Director of GTBank, Segun Agbaje

According to the Bank’s Managing Director Segun Agbaje “I think the place we will still like to do business or do an acquisition is Kenya,” though he did not reveal the time-line for the acquisition, inside sources say that efforts are on top gear for the process. Guaranty Trust Bank already has offices in 10 countries outside Nigeria including Kenya. It wants to increase the contribution of African subsidiaries to the bank’s income to about 30% of profit before tax in the next three years from 15.3% in 2020.

Read also:GTBank Prepares for Emerging Fintech Disruption

Banks in Africa’s most populous country are expanding on the continent and diversifying outside their core operations as they seek to grow after the coronavirus pandemic and two economic contractions in four years shuttered businesses and limited lending opportunities at home.

Read also:Vodacom Business Helps Organisations to Digitise their Supply Chain Network

Guaranty Trust is expecting the approval by regulators of a move to transition into a financial holding company in the second half, which will enable it start payments and asset management units, Agbaje said. It targets 10% growth in the loan book this year and pre-tax profit of 243 billion naira from 238.1 billion naira.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Google Maps Launch New Controversial Users App

Google Maps

Google Maps has added what some describe as a stalker app which enables location sharing allowing someone to let you know where they are at any given moment. The live location sharing comes in handy whenever you want to follow someone on the map, a feature that only works as long as the contact gives their permission for you to see their location.

Google Maps
Google Maps

In other words, as long as someone lets you see where they are, you can just open Google Maps and view their position in real time. You can do that without the need for any other apps. This is similar to WhatsApp’s upgrade that also allows users to share their live location with contacts.

Read also:Google Expands Kenya’s Accelerator Program, Donates $5m To Startups

And now Google’s taking the whole thing to a new level, as it allows users to turn to Google Assistant to see where someone they’ve been allowed to track currently is, and everything works with just a voice command. In other words, a quick question for Google Assistant is all you need to find out the location of one of your contacts, of course, as long as they’ve previously shared such information for you.

Google now displays a short tip on Android devices where this feature has been enabled, suggesting that you can ask Google Assistant to tell you where someone currently is. “Where is [name of the contact]?” is the question that you can use for this feature, so in theory, you may not even have to touch your phone to be aware of someone’s location in real time. Obviously, this feature can also be turned off, but on the other hand, it brings location sharing to a completely new level, making it so easy to become a little stalker, obviously with good intentions.

Read also:Barely One Month After Launch, Ethiopian Fintech Startup ArifPay Raises $3.5m

However, for the time being, it looks like this feature is gradually rolling out to users out there, and most likely, it’s all powered by a server-side switch, not by a new Google Maps update.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

AfDB-backed Souk At-Tanmia Is Sweeping For And Funding Startups In Morocco In An Aggressive Way

Startups in Morocco have been busy seeking the attention of the African Development Bank, through the Souk At-tanmia (SAT) program as the bank continues the process of selecting startups and very small and medium-sized enterprises (TPME) in the three target regions of Morocco, namely Guelmim-Oued Noun , Darâa-Tafilelt and Tanger-Tétouan-Al Hoceima. Launched in 2019 with funding from the Dano-Arab Partnership Program (DAPP), Souk At-Tanmia supports project leaders with technical and financial support.

Souk At-Tanmia
Souk At-Tanmia

Read also: A New Date for the Intra-African Trade Fair (IATF2021) Confirmed

Here Is What You Need To Know

  • The program which started Thursday, March 11, is training and giving support to shortlisted candidates with a team of high-level experts, in partnership with public institutions, incubators and actors supporting entrepreneurship in all the three regions.
  • A total of 540 applications, including 89 startups and 451 small business projects have been registered since the launch, on January 5, 2021, of the calls for applications.
  • Nearly 521 start-up and small business projects were selected, including 200 in the creation phase and 321 in the ideation phase, most of them being led by young people aged 20 to 35, with nearly 22% promoted by women entrepreneurs.
  • The preselections were made by the partners and experts of the project management unit, who evaluated each project according to the scoring grid of the SAT Morocco program.
  • Souk At-tanmia aims to support 850 entrepreneurs in starting a business. 250 of the most deserving projects will thus benefit from post-creation technical support as well as financial support.
  • The program wishes to strengthen the entrepreneurial dynamic by providing, on the one hand, better visibility of the actors and, on the other hand, by improving and supplementing the offer through the coordination of an entrepreneurial ecosystem for better effectiveness and efficiency.
  • Souk At-Tanmia is a program that mobilizes local actors, incubators and public institutions for public-private-NGO partnerships. These cooperation models aim to inspire, at the local level, the development of a dynamic of integrated support with, ultimately, the deployment of regional platforms for the coordination of the entrepreneurial ecosystem.

Souk At-tanmia startups Morocco Souk At-tanmia startups Morocco

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer

Tunisian E-signature Startup NGSign Raises $544k Funding

NGSign, a Megrine, Tunisia-based startup that facilitates the signing of electronic signatures, has announced it has raised 1.5 million dinars ($544k) from institutions and investment funds, without stating the identities of the investors. 

The new funding will allow NGSign to consolidate its positioning in the Tunisian market and to develop to position itself as one of the leaders in electronic trust services in Africa and internationally.


From L-R: Khadija Ferjani (CTO & Co-founder), Mohamed Ali Tarhouni (CCO & Co-founder) & Moez Ben Mbarka (CEO)

Read also: South African Edtech Startup HyperionDev Raises $2m, Invites Public To Subscribe To $235k Coding Bursary 

A Look At What NGSign Does

Founded in 2016 by Khadija Ferjani and Mohamed Ali Tarhouni, NGSign is the first Tunisian online electronic signature platform. It allows documents to be signed and signed in complete security while guaranteeing the probative value of the signed documents. NGSign also offers advanced management of signature transactions (multiple signatories, multiple documents, multiple roles, etc.) and organizations (users and workflows).

Read also:Tunisia And Italy Team Up To Build A Common Startup Ecosystem

The NGSign platform offers several types of electronic signature and since May 2020 supports TunTrust’s DigiGO certificates. Its solutions are approved by TunTrust the startup’s partner in several national projects.

In 2018, Dr. Moez Ben Mbarka joined the team as CEO and expert in electronic signature after an experience of more than 11 years at a European leader in electronic signature and several years as a member of several working groups. ESI (groups of experts who publish European standards for electronic signatures which are also the reference standards in Tunisia and in the region).

The expertise of the founding team has enabled NGSign to develop a complete suite of trust services solutions including electronic signature (NGSign), Visible Electronic Seal (QRSecure) and management of electronic certificate requests (Remote Trust).

Read also:Three Cybersecurity Resolutions for Businesses in 2021

NGSign’s solutions have enabled the adoption of electronic signatures by several public and private organizations, including the first bank and the first insurance company to switch to electronic signature. NGSign has also successfully exported to Africa since 2017 with several projects to implement eGov solutions and consultancy assignments.

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer

NGSign funding

These Payments Companies Are Now Allowed To Carry Out International Money Transfer In Nigeria

International money transfer can now be done in Nigeria as the country’s central bank has released a list of operators allowed to carry out the operation in the West African country. Noticeably, the list left out startups like Chipper Cash, among others. CBN’s latest step comes on the heels of its recent order to Mobile Money Operators and Payment Switch providers to suspend the receiving of remittances or the integrating of their systems with International Money Transfer Operators (IMTOs). The bank has also been whitewashing its recent order to Nigerian money deposit banks to block accounts of cryptocurrency traders, with a senior central bank official quoted recently as saying that “the CBN did not place restrictions from use of [sic] cryptocurrencies and we are not discouraging people from trading in it. What we have just done was to prohibit transactions on cryptocurrencies in the banking sector.”

LIST OF APPROVED INTERNATIONAL MONEY TRANSFER OPERATORS AS AT FEBRUARY 28, 2021
SNOPERATORADDRESS
1AFTAB CURRENCY EXCHANGE LIMITEDPall Mall Court, 61-67 King Street, Manchester, M2 4PD, United Kingdom
2AZIMO LIMITED173 Upper Street London, NI IRG United Kingdom
3  BELYFTED LIMITED  44 Whalebone Lane South Dagenham, Essex RMB 1BB, United Kingdom
4CAPEREMIT UK LIMITED  47 Stanley Road Stevenage Hertfordshire SG2 OEE United Kingdom
5CASHPOT LIMITED  157, Deptford High Street SE8 3NU, London United Kingdom
6CENTREXCARD LIMITED  Unit 46, Dartford Business Park (Basepoint) Victoria Road, Dartford DA1 5FS, Kent, UK
7CHIME INC.  239 East 5th Street Suite 4B New York, NY 10003 United States
8  COLONY CAPITAL LIMITED  Plot 5 Chief Yesefu Abiodun Way Oniru, Victoria Island Lagos
9CP EXPRESS LIMITED  346 Barking Road London, E13 8HL
10  DT&T CORPORATION LIMITED  3 Harbour Exchange Square London E14 9GE
11  eTRANZACT LIMITED  4th & 5th Floors, Fortune Tower 27/29 Adeyemo Alakija Street Victoria Island Lagos
12FIEM GROUP LLC DBA PING EXPRESS  1327, Empire Central Drive St. 110-6 Dallas Texas
13FIRST APPLE INC.  6492 Landover Road Suite A1 Landover MD20785 Cheverly, USA
14FLUTTERWAVE TECHNOLOGY SOLUTIONS LIMITED  8 Providence Street, Lekki Phase 1 Lagos
15  FORTIFIED FRONTS LIMITED in Partnership with e-2-e PAY LIMITED  #15 Glover Road Ikoyi, Lagos
16  FUNDS & ELECTRONIC TRANSFER SOLUTIONNo. 15, Cameron Road, Ikoyi, Lagos
17FUNTECH GLOBAL COMMUNICATIONS LIMITED  Clarendon House 125 Shenley Road Borehamwood Heartshire WD6 1AG United Kingdom
18GLOBAL CURRENCY TRAVEL & TOURS LIMITED  1280 Ashton Old Road Manchester, M11 1JJ United Kingdom
19HOMESEND S.C.R.L  Rue des Colonies 56, 6th Floor-B1000 Brussels Belgium
20IDT PAYMENT SERVICES INC.  520 Broad Street USA
21  IMMUEUBLE WARI LIMITED  20 Rue Amadou Assane Ndoye 7 Etge BP 32 368 Dakar Dakar Senegal
22  INTERSWITCH LIMITED  Plot 1648C Oko-Awo Close Victoria Island Lagos
23  MAKEBA INC.85, Broad Street, 18th FI New York, NY 10004
24MONEYGRAM  Africa Re-Insurance Building 1679, Karimu Kotun Victoria Island, Lagos
25NAIRA GRAM LLC operating in Nigeria as NGN GRAM LIMITED  24b Femi Okunnu Phase 2, Lekki Lagos State
26NIGERIAN POSTAL SERVICE (NIPOST)  P.M.B 12537, Garki Abuja
27NOUVEAU MOBILE LIMITED  c/o 31B Oyeleke Street Alausa Ikeja, Lagos
28  PAGATECH LIMITED  176 Herbert Macaulay Way Yaba, Lagos
29PAYCOM NIGERIA LIMITED  Plot 8, Dr. Nurudeen Olowopopo Avenue Alausa, Lagos
30  PAYPAL INC.  #2211 North First Street San Jose, CA95131 United States of America
31  REMIT HUB CAFÉ LIMITED  175 Chesterton Road Cambridge, CB4 1AF United Kingdom
32  REMITLY INC.  111 Third Avenue Suite 2100 Seattle, WA 98101 United States
33RIA FINANCIAL  1 Allées Seydou Nourou TALL POINT E Dakar – Senegal
34  SHIFT FINANCIAL SERVICES LIMITED  No.1 Goba Close (Suite 3), Off Monrovia Street Off Aminu Kano Crescent Wuse 2, Abuja
35  SIMPLIFY INTERNATIONAL SYNERGY LIMITED  No. 18, A-Close, 14 Road Gwarimpa, Abuja
36SMALL WORLD FINANCIAL SERVICES GROUP LIMITEDAntonio Inesta Units 3&4 Sycamore Court Royal Oak Yard 168-170 Bermondsey Street SE1 3TQ, London
37  TCF LIMITED  2A Osborne Road Pees Galleria, Suite 4 Ikoyi, Lagos
38TRANS-FAST REMITTANCE LLC  44 Wall Street, Suit 400 New York, NY10005 USA
39TRANSFERTO MOBILE FINANCIAL SERVICES LIMITED (THUNES)  London Iron House London SE1 1UN United Kingdom
40VENTURE GARDEN NIGERIA  Plot E, Ziatech Road Oregun, Ikeja Lagos
41VOLOPA FINANCIAL SERVICES (SCOTLAND) LIMITED  Maclay Murray & Spens LLP 1 George Square, Glasgow, G2 1AL
42VTNETWORK LIMITED  No.5 Beckley Street, Off Adeyi Avenue Old Bodija, Ibadan Oyo State
43WEBLINK INTERNATIONAL LIMITED  The Enterprise Centre (Unit 1) Hastings Road, Bromley Kent BR2 8NA, London
44WESTERN UNION7th Floor, Shore 13 1100 Boulevard Al Qods-Quartier Sidi Maarouf 20270 Casablanca- Morocco
45WORLDREMIT LIMITED  2nd Floor, 62 Buckingham Gate London SW1E 6AJ
46XPRESS MONEY SERVICES LIMITED  Office #426, 1 Olympic Way Wembley HA9 ONP London, UK
47  XPRESS PAYMENT SOLUTIONS LIMITED  23, Oba Akinjobi Way Ikeja GRA Lagos

Money transfer Nigeria Money transfer Nigeria

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer

WemTech Spring 2021 Program for African Women in Technology and Engineering Calls for Applications

WemTech

As the world marks the International Women’s Month (March) this year. There have been calls for more diversified workplaces to tackle existing gender stereotypes and bias in STEM fields which has been discouraging young people from pursuing STEM professions; however, the good news is that times are changing fast, as the sector is becoming more diverse.

WemTech
WemTech

Understanding that there’s a growing need to encourage more women to embrace careers in STEM, WemTech has launched an initiative to empower women in tech and engineering across Africa. The program is currently open to interested applicants. WemTech scouts and selects young female software engineers equipping them with the resources needed to unlock their full potential.

Read also:Swedish Investment Fund, Norrsken, To Pour $12m Into Rwanda Startup Ecosystem

The 4-month program, spanning from May to August 2021, is free for female software. It is designed to enhance their skills, giving them real-life working experience and career opportunities.

Successful applicants will spend four months working on MVPs products for the LabEight*’ accelerator’s portfolio of startups. WemTech is currently accepting applicants.

What does WemTech offer?

Through its tailor-made curriculum, the program aims to prepare participants for the workplace as well as the following:

Training and guidance in completing a real-life SW developing project for a start-up company in its early stage;

Opportunity to collaborate with professional product engineering teams and learn technical skills;

Access to WemTech’s network and resources;

Mentorship.

Requirements

Access to a computer;

Prior SW development education (a degree or a course certification) and/or equivalent experience;

Passion for technology and building software products;

Commitment throughout the duration of the program.

The interview of selected applicants will be held in April 2021.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

15,000 MSMEs to Benefit from Paylink and Google Partnership

SystemSpecs’ Executive Director, Corporate Strategy, ‘Deremi Atanda

About 15,000 micro, small and medium enterprises (MSME’s) in Nigeria stand to gain from a boot camp being organized by Paylink in partnership with Google. This is in recognition of the vital role and contributions of micro, small and medium enterprises (MSMEs) and their contributions to the national economy. Moreso, the impact of the COVID-19 pandemic on MSMEs is such that one report reveals that many small and medium-sized enterprises are expected to go out of business post-COVID-19.

SystemSpecs’ Executive Director, Corporate Strategy, ‘Deremi Atanda
SystemSpecs’ Executive Director, Corporate Strategy, ‘Deremi Atanda

Paylink.NG, a Nigerian firm that provides safe and easy-to-use solutions that enables individuals, MSMEs, religious groups, not-for-profit, social media vendors, crowd funders, event planners, freelancers, and others to obtain payments through multiple channels by sharing a personalized link. It is a payment, and ecommerce solution, and Google, a world-renowned tech giant has partnered up to help MSMEs to recover quickly from the effects of COVID-19 and reposition them to take full advantage of the opportunities of the post-COVID future. The partnership is particularly aimed to empower MSMEs with the digital skills and expertise needed to thrive, through the Paylink MSME Digital Bootcamp.

Read also:Google Expands Kenya’s Accelerator Program, Donates $5m To Startups

The organizer of the boot camp, SystemSpecs, providers of Paylink, disclosed this recently during the formal announcement of the call for participation of MSMEs across Nigeria for the free seminar supported by Google. MSMEs in Nigeria will be equipped with the appropriate digital skills needed to drive and scale their businesses in the digital age, recover from the effects of the coronavirus pandemic, and maintain their business on a long-term basis through a series of online training.

Commenting on the partnership, SystemSpecs’ Executive Director, Corporate Strategy, ‘Deremi Atanda, said, “With more than 41 million MSMEs spread across the length and breadth of the country, it is clear that if these enterprises are empowered to attain their true potentials, they would significantly impact all strata of our economy and society at large.  

Read also:Barely One Month After Launch, Ethiopian Fintech Startup ArifPay Raises $3.5m

“This is one of the reasons we have partnered with Google, a reputable organization that deals with businesses across various segments of the Nigerian marketplace, to equip enterprises in the micro, small and medium-scale cadre with key requirements to thrive in a post-COVID economy. It is our conviction that MSMEs are an essential stakeholder group in the Nigerian project and we are committed to advancing their causes.”

Areas that will be covered include brand building, business growth, and tools for business management which will be held on selected days in March, April, and May 2021, the training leverages Google’s Digital Skills Africa program for existing and prospective Paylink subscribers.

“COVID-19 forced many businesses to re-think their strategies and challenged long-standing entrepreneurial approaches. Among others, it brought forth the need to adopt a digital-first strategy in order to reach an extensive and largely unexplored market and ultimately grow bottom-line.

Read also:Ethiopia’s e-Payments Provider EthSwitch, Secures $2.33 million Grant from the AfDB

While a number of MSMEs are aware of this progressive direction, many are not. As with our other training, partnering with SystemSpecs to train current and prospective Paylink customers will go a long way in empowering more stakeholders in Nigeria’s MSMEs space,” said Google Nigeria’s Country Director, Juliet Ehimuan.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

A New Date for the Intra-African Trade Fair (IATF2021) Confirmed

Intra-African Trade Fair (IATF2021)

The second Intra-African Trade Fair (IATF2021) is now set to take place from 8 to 14 December 2021. African Export-Import Bank (Afreximbank), the African Union (AU) and the Government of Rwanda have decided to shift the date of the continental trade fair, which was previously scheduled to hold from 6 to 12 September 2021, to allow for a broader roll-out of COVID-19 vaccines across the continent and ensure that the event is held under the most optimal health conditions.

Intra-African Trade Fair (IATF2021)
Intra-African Trade Fair (IATF2021)

The decision was made at the extraordinary meeting of the IATF2021 Advisory Council held virtually on 18 March 2021. The new date will enable organizers to take stock of all the latest safety precautions, allow for wider roll-out of COVID-19 vaccines and to put in place effective COVID-19 safety and prevention protocols.

Read also:Afreximbank to Fund Africa’s Covid-19 Vaccine Purchase with $5bn

Chief Olusegun Obasanjo, IATF2021 Advisory Council Chairman and former President of Nigeria, said that the new date would also give countries and businesses more time to prepare for IATF2021.

“Our intent is that all participants garner the full benefits of the abundant networking, trade and investment opportunities that will arise at IATF2021. Despite the COVID-19 pandemic, there is a lot of enthusiasm for the event. The extra time given to preparatory activities and effective roll-out of COVID-19 vaccines will allow IATF2021 to be held under favourable conditions, giving more confidence to participating governments, exhibitors, buyers, conference delegates and other visitors,” said Chief Obasanjo. “IATF2021 will bring together continental and global players to showcase and exhibit their goods and services, and explore business and investment opportunities enabled by the single market created by the African Continental Free Trade Agreement (AfCFTA) to accelerate Africa’s integration and industrialisation agenda,” he added.

Read also:East African Social Business Incubator Opens Applications

Organised by Afreximbank in collaboration with the African Union and hosted by the Government of Rwanda, IATF2021 will play a crucial role in assisting and enabling businesses and corporates across Africa to share trade and market information and conclude business deals that are critical in supporting the implementation of the AfCFTA.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

South African Edtech Startup HyperionDev Raises $2m, Invites Public To Subscribe To $235k Coding Bursary

HyperionDev, a Cape Town-based online code course developer, has secured more than £1.8 million ($2m) through its equity crowdfunding campaign on Crowdcube. At the same time, the company has announced an impact investment opportunity that allows everyone to become a part of the company’s growing tech education business while also offering coding scholarships worth up to 3.5 million rand (US$ 235,720) to deserving South Africans.

“We believe that ed-tech is going to dominate education in the coming years. There isn’t a better time to make an investment in both your future, and the future of hundreds of deserving people as we enter our next phase of explosive growth in the UK and international markets,” said Riaz Moola, Founder and CEO, HyperionDev.

Riaz Moola is the Founder and CEO, HyperionDev.
Riaz Moola is the Founder and CEO, HyperionDev. Image credits: Dana Leigh

Here Is What You Need To Know

  • Via the crowdfunding, which ended at the end of February, the company offered 9.73 percent of its total equity at a £16.8 million pre-money valuation.
  • The latest round of crowdfunding attracted the attention of South African celebrity Black Coffee and his investment firm, Flightmode Digital. 
  • HyperionDev has already obtained over US$400,000 in funding from some of the world’s most well-known technology firms, such as Facebook and Google.
  • The Crowdcube funds will be used to continue the HyperionDev platform’s growth and development. 
  • HyperionDev’s expansion into the UK and US markets will also be aided by the investment. The planned expansion follows the company’s success in Africa.
  • Investors have increasingly shown interests in South African edtech startups. Last year, Naspers Foundry announced investment of R45 million ($2.9 million) into ‘The Student Hub’, an online learning platform, which helps TVET colleges to overcome physical infrastructure constraints and improves students’ access to vocational education and training. 

Read also: South Africa’s The Student Hub Raises $2.9m From Naspers Foundry

Invitation To The Public To Subscribe To HyperionDev’s Ongoing Coding Scholarship Scheme Fundraise

Members of the public are also encouraged to donate to HyperionDev’s ongoing coding scholarship fundraise. The impact investment opportunity demonstrates HyperionDev’s dedication to delivering positive social impact by addressing a pressing need in South Africa for tech education and skills growth.

Through the company’s US$235,720 bursary scheme, investors can make a difference in the lives of hundreds of deserving South Africans by buying equity shares in HyperionDev for as little as R200/£10.

A Look At What The Startup Does

HyperionDev was founded in 2012 by Riaz Moola while he was still a first year Computer Science student. The startup has the aim of closing the growing global tech skills gap through affordable tech education. Since then, thousands of students have learned job-ready developer skills and pursued careers in tech. Individuals can take online courses using personal computers or mobile phone devices, even if they do not have access to a broadband network, in HyperionDev’s coding bootcamps.

“HyperionDev began as a community of Computer Science university students in Africa and the UK trying to equalise tech education. Our core innovation was simple: efficiently connect top students to struggling ones, having them review code on structured courses. This got financial backing from Facebook and Google in 2016/17, helping us deliver mentor-led tech education globally and perfect our proprietary technology for scaling online mentoring — what we call computer-assisted code review,” the startup noted in a statement.

The statement also noted that HyperionDev is well positioned for a wave of rapid growth, following the online edtech boom that arose in the aftermath of global lockdowns and social distancing: the business has grown by 640 percent in revenue since 2018, while lockdown has seen a 254 percent increase in active users, surpassing 100,000 student registrations.

“I strongly believe that accessible tech education is the future of social upliftment and mobility for thousands of people across the globe. In South Africa, there are too many people who do not have the skills nor opportunity to find well-paying, decent jobs,” said Moola.

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer

Congo Blocks Internet Access

Although they are costly in terms of economics and freedom, some African powers continue to abuse internet access during elections and protests. This is the case of Congo-Brazzaville, on presidential election day last Sunday. And although outgoing head of state Denis Sassou Nguesso made youth his priority by polling them on social media at the end of February, in an unprecedented survey of their needs, old habits have not disappeared.

outgoing head of state Denis Sassou Nguesso
outgoing head of state Denis Sassou Nguesso

“Network data shows an almost total collapse in national connectivity starting at midnight local time. The incident continues as the polling stations must open,” noted Internet watchdog NetBlocks.

AFP reporters also noted that internet access stopped shortly after midnight on Saturday and was still down when polling stations opened on Sunday. 

Read also:Senegal Restricts Internet, Media Access, As Protests Linger

“The Internet network has been inaccessible since shortly after midnight (Saturday 23 hours GMT). It was still open at the opening of the polling stations on Sunday at 7 a.m. local time (6 a.m. GMT), where 2.5 million voters are called upon to elect their President of the Republic,” reports the French Press Agency. 

Unlike the 2016 presidential election — won by Denis Sassou N’Guesso with 60% of the vote — the mobile networks, telephony and SMS, remain in service. At the time, the Congolese authorities said they wanted to “prevent the illegal publication of results.” The outgoing president, 77, who has 36 years as head of state, faces 6 rivals.

On March 16, some 50 organizations, including Internet Without Borders, in an open letter called on President Sassou Nguesso to “keep the Internet open, accessible and secure throughout the period of the 2021 presidential election.”

Read also:Three Cybersecurity Resolutions for Businesses in 2021

The Internet and social networks “provide a space for communication, for public debate, for researching information on electoral processes and candidates, for reporting and documenting events and results,” they insisted. “Internet shutdowns undermine human rights, disrupt emergency services and cripple economies. “

Read also:Congolese Off-grid Energy Firm Nuru Secures $1.2m From Proparco

On Wednesday, between 55,000 and 60,000 members of the security forces voted in advance. This early vote is seen as a potential source of fraud by opponents of the incumbent president. The Episcopal Conference, which expressed serious reservations about the transparency and credibility of this presidential election, was denied accreditation allowing it to send election observers to polling stations.

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer

Congo Internet access Congo Internet access