Share this newsletter:
Good morning 
If you’ve ever dreamed of starting your own GRWM videos, we’ve got a sweet read for you.
In this edition of The Algorithm, my colleague Hannatu spoke to three lifestyle content creators to discover the secrets to becoming a successful social media vlogger. Much like your mood swings, these creators say the secret is showing up every day…among other things. Read up here.
Mobility
Lagos state government to sanction Uber
Ever wondered how safe your late-night Uber ride truly is? Well, the Lagos State Government might be taking a peek under the hood.
The government wants Uber to supply records of users’ trip information to ensure the safety of Lagosians. Uber, however, has failed to comply with this regulation.
The news: Now the Lagos State Government is flexing its regulatory muscle, threatening sanctions against Uber Nigeria for failing to comply with “essential data sharing agreements”, which mandate the company to share user and trip information with the Lagos government.
Now, this data exchange can be a double-edged sword. For riders, it could mean faster emergency response times if things go south.
On the flip side, for Uber, complying could translate to hefty costs in integrating new data-sharing systems. But non-compliance could be a recipe for a Lagos-sized headache—think hefty fines or even a complete shutdown as with Gokada, ORide or MaxRide.
Uber’s no stranger to regulatory battles worldwide. Singapore, for example, mandates real-time trip tracking for safety reasons, essentially becoming a backseat passenger on every Uber ride. India has also explored similar measures.
So, what does this all mean? It’s a sign of the times. Governments are increasingly flexing their muscles in the digital age, demanding more transparency from tech giants. While Uber wrestles with Lagos’ demands, one thing’s for sure: finding a solution that balances safety with privacy concerns will be key to keeping those Uber trips rolling in Lagos.
Access payments with Moniepoint
You don’t have to take our word for it. Give it a shot like he did Click here to experience fast and reliable personal banking with Moniepoint.
Streaming
Showmax faces legal battle in new documentary premiere
Showmax started its reboot with a sleek UI design and an expansive content library to keep you glued to your screens. Now, the streamer is making new additions to keep you at the edge of your seat.
What additions? Showmax is set to begin streaming “Tracking Thabo Bester”, a four-part true crime documentary that tells the story of the prison escape and recapturing Thabo Bester, who was serving a life sentence for rape and murder.
Showmax will premier the first two episodes of the documentary on 15 March, 2024, and release the final two episodes on 22 March, 2024.
But Bester does not want his story told. Bester, who faked his death and escaped from Mangaung Correctional Centre in Bloemfontein in 2022, has threatened legal action against Showmax’s owners MultiChoice if it goes on with the premiere of the documentary. Bester and his accomplice, Nandipha Magudumana, weren’t happy about their names being used to sell a show, claiming they never gave permission. The pair also wanted to see the documentary first before it hit the airwaves.
Bester’s lawyers also argue that airing the show would impede his criminal trial, which is set to begin in June 2024, and infringe on his rights to a fair trial.
MultiChoice has maintained that streaming the show serves the public good, and perhaps their responsibility to shareholders.
While true-crime fans eagerly await the March 15th premiere, a legal battle threatens to derail the documentary’s release. It remains to be seen whether “Tracking Thabo Bester” will land with a bang or a whimper.
Bester’s case is eerily similar to a defamation suit brought by a retired police officer in Netflix’s docuseries “Making a Murderer”. The police officer claimed that Netflix defamed him by accusing him of planting evidence. However, the judge ruled in favour of the streaming giant, claiming that the suit raised no statements that are defamatory.
While Bester’s claim about a fair trial might hold more weight, the outcome likely hinges on whether the documentary is deemed prejudicial.
Legal
IFC sues Africa Talking for rejecting Infobip’s acquisition offer
Last week, we exclusively reported that Africa’s Talking (AT), was sued by Eston Maina Kimani, Bilha Ndirangu, and three others who allege that AT’s CEO, Samuel Gikandi pushed out Ndirangu as director after she requested a “workplace abuse” investigation. More investigation has revealed that the company has been caught up in another legal dispute since 2023.
The Kenyan-based communication-platform-as-a-service (“cPAAS) API startup, was reportedly sued by one of its major investors, the International Finance Corporation (IFC).
Why? IFC, a lead investor in Africa’s Talking (AT) 2018 $8.4 million series A round, was unhappy with AT rejecting Infobip’s acquisition offer and sued the company.
While IFC holds a 20% stake in AT, CEO Samuel Gikandi controls the board, preventing IFC from pushing the sale through without board approval.
According to sources familiar with the deal, two additional co-founders of Africa’s Talking expressed openness to the Infobip acquisition and are now also suing Gikandi. Gikandi, in an email to TechCabal, described AT as being “viciously attacked” by the IFC, suggesting a pattern of abuse dating back to their investment in 2018. He perceived the “attack” as a “cover-up” and claimed ignorance of the IFC’s motives.
Zoom out: As part of the Series A deal, Wale Ayeni, who led IFC’s venture capital arm in Africa at the time of the investment, joined Africa’s Talking board. Marieme Diop has since replaced him.
No hidden fees or charges with Fincra
Collect payments via Bank Transfer, Cards, Virtual Account & Mobile Money with Fincra’s secure payment gateway. What’s more? You get to save money for your business when you use Fincra. Start now.
Layoffs
Gro Intelligence lays off 60% of its staff despite last-minute funding
Can a company with impressive funding and recognition fall on hard times just a few years later? Gro Intelligence, an AI-powered insights company that raised $85 million in a Series B round in January 2021 and was named one of TIME’s 100 most influential companies that same year, is facing this challenge.
Despite previous funding success, the company, in January 2024, laid off 10% of its staff—about 20 people— to cut costs.
More recently, on March 1, 2024, Gro laid off a further 60% of its staff. Despite these setbacks, the company reportedly secured “last-minute” funding with unknown terms.
What went wrong? Gro reportedly had trouble meeting payroll and wasn’t generating enough revenue. The company aimed to be a one-size-fits-all solution for various clients, but industry sources say it lacked focus and struggled with sales.
How were affected employees compensated? Employees at Gro’s offices in New York and Nairobi were informed of the layoffs last week. They were offered some relief in the form of back pay, unused paid time off (PTO), and continued health insurance coverage through March, but no severance package was provided.
The company’s future hinges on finding a niche market and developing a more effective sales strategy.
Accept fast in-person payments, at scale
Deploy your in-person point-of-sale solution to hundreds of sales agents, in seconds. Learn more →
Stat of the week
345: That’s how many African companies make revenues worth $1 billion. South Africa accounts for 40% (147) of this number, while Egypt and Nigeria follow with 33 and 23 respectively.
Source: Mckinsey
Crypto Tracker
The World Wide Web3
Source:
|
Coin Name |
Current Value |
Day |
Month |
|---|---|---|---|
 Bitcoin |
$64,404 |
+ 1.33% |
+ 44.53% |
| Ether |
$3,905 |
– 0.06% |
+ 55.64% |
 Solana |
$144.66 |
– 1.22% |
+ 37.60% |
| Worldcoin |
$9.50 |
– 9.69% |
+ 282.33% |
* Data as of 09:45 PM WAT, March 10, 2024.
Experience the best rates and enjoy swift 6-24hrs delivery times. Elevate your business with OneLiquidity–get started today.
Job openings
- Paystack – Design Manager – Nigeria (Remote)
- Bamboo – Communications Associate – Lagos, Nigeria (Hybrid)
- Paystack – Senior Backend Engineer – Cape Town, South Africa
- LemFi – Country Marketing Manager – Kampala(remote)
- Visa – Biz Dev Analyst – Lagos – Nigeria
- Renmoney – Product Manager – Lagos, Nigeria
There are more jobs on TechCabal’s job board. If you have job opportunities to share, please submit them at bit.ly/tcxjobs.
What else is happening in tech?
Written by: Mariam Muhammad & Faith Omoniyi
Edited by: Timi Odueso
Want more of TechCabal? Sign up for our insightful newsletters on the business and economy of tech in Africa.
- The Next Wave: futuristic analysis of the business of tech in Africa.
- Entering Tech: tech career insights and opportunities in your inbox every Wednesday at 3 PM WAT.
- In a Giffy: business decisions powered by data-driven insights and analysis you can trust.
- TC Scoops: breaking news from TechCabal
P:S If you’re often missing TC Daily in your inbox, check your Promotions folder and move any edition of TC Daily from “Promotions” to your “Main” or “Primary” folder and TC Daily will always come to you.
from TechCabal https://ift.tt/AgqEpcJ
via IFTTT
I am the CEO of 9JAGISTLAND.My name is Adedeji Timothy and my co-owner is Oyekola Damilare.This blog is born out of our passion to educating to people in all aspect of internet life.We are enthusiastic about writing posts and articles online.
Write your views on this post and share it. ConversionConversion EmoticonEmoticon