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Features
Quick Fire 
with Ayoola Salako
Ayoola Salako is a multimedia storyteller and marketing professional with a track record of successful executions across editorial, brand storytelling, and user acquisition campaigns. His strong interest in creative storytelling and technology has led him to work for top brands and publishers in multiple countries. Currently, he leads marketing operations and storytelling efforts in LemFi’s mission of making International Payments accessible to everyone.
- Explain your job to a five-year-old
- How do you adapt your storytelling approach for different clients?
- What’s your process for collaborating with clients who may not have a clear vision for their project?
- What are some of the biggest challenges you’ve faced in remote collaboration on multimedia projects?
- Beyond production, how do you measure the success of a storytelling project?
- What exciting things are you working on now?
- What does the future look like?
- Given your love of documentaries, what story would you jump at the chance to tell, given the opportunity?
- You describe yourself as a “Student of the internet”—can you share a recent online discovery that blew your mind, related to storytelling or technology?
My job is to make pictures and videos of the cool things my friends and I do, and then show them to people, like our friends and family, using the internet or any other means. This helps them know about our business so they can come and buy from us.
I adapt my storytelling by looking for the most effective way to tell the business’s story. I find references on the internet that are closest to the client’s needs, whether they are crazy or sane, and then I use those references to guide the storytelling.
I ask a lot of questions to understand what the client truly needs, even if they don’t have a clear vision. I find something that is the safest option to tell their story, present a few references that match what they might be looking for, and then work with them to choose the direction that fits best.
The biggest challenges in remote collaboration are dealing with bandwidth issues and the lack of very detail-oriented talents among media producers. Often, production companies and agencies don’t understand why I need content in specific formats or durations, which complicates the process.
I measure success based on the impact and how well people can relate to the story. For example, I once worked on a documentary about a traditional bone healer that led someone from the US to come to Nigeria to visit the healer. I also look at how organically a story spreads and resonates with audiences, as with a campaign I did that went viral because people thought it was part of a TV show, not an ad.
Right now, I’m excited about the transition I’ve made in my career, which is quite unique. I’ve moved from being purely a brand storyteller to taking on a more strategic role that involves not only crafting narratives but also integrating project management, legal compliance, and data analysis into my work.
This evolution happened as I started working on a market expansion campaign in Ghana, where I realized that my role was expanding beyond just creating content. I found myself asking the “so what?” question—essentially ensuring that every piece of content or strategy directly ties into specific metrics or goals.
My current focus is on blending my storytelling background with growth strategies, working closely with various teams like product, engineering, data, legal, and finance. This multidimensional role allows me to contribute to more intentional and metric-driven campaigns, making my work both challenging and fulfilling.
The future for me would be to find a unique blend for what I do. In sub-Saharan Africa, there are no companies that are focused on data-conscious storytelling. As a creative person, while it’s very easy to focus on the promotion part of marketing, it’s also easy to forget about on of the other Ps of marketing, pricing. I think I’d like to see myself as a business-conscious creative director.
I would love to tell the story of a wildlife ranger in a park. I want to follow them and document their lives, understanding what inspires them to protect wildlife and what their day-to-day life is like.
We don’t get to see a lot of that in West Africa. We’ll often see these stories told in Kenya or East Africa, even Southern Africa, but those stories are needed here.
Recently, I learned about different home automation protocols like Zigby and Z-Wave, which allow devices to communicate without Wi-Fi. This was a big discovery for me because I always thought everything relied on Wi-Fi.
In storytelling, I discovered James Tulland on YouTube, who tells life stories from a unique point of view, such as what life is like for a great white shark, highlighting how much we still don’t know about the ocean.
Read Moniepoint’s 2024 Informal Economy Report
Did you know that 57.7% of the business owners in Nigeria’s informal economy are under 34 years old? Click here to find out more about the demographics of Nigeria’s informal economy.
Economy
Nigeria’s inflation eases for the first time in 19 months
Yesterday, Nigeria’s inflation slowed for the first time in almost two years. Data from Nigeria’s Bureau of Statistics puts July’s headline inflation at 33.40%, down from 34.19% recorded in June.
According to Stears Analyts, this decrease is a result of a drop in food prices, which has been a major driver of inflation. As Nigeria’s harvest season draws near—with one basket of tomatoes coting half of what it used to be in June—Stears analysts believe that inflation will fall further. Also, the Federal government waived import tax on food for 150 days, a move aimed at lowering the cost of food.
July’s inflation rate will offer some respite to Nigerians who are suffering the worst cost of living crisis in decades. While analysts expect a 31% inflation rate in August, they expect the CBN to keep interest rates high until they see a consistent decline in inflation for at least three months.
Startups
Mobius Motors to get acquired by undisclosed buyer
Mobius Motors may be getting a new lease on life after accepting an acquisition offer from an undisclosed buyer. Only a week ago, the Kenyan car-maker was set to shut down. However, the company is now negotiating with a mystery buyer set to take over; the transaction is expected to be finalised in 30 days.
However, it is unclear if the interested buyer will use Mobius’s assembly plant in Nairobi to produce their own model cars, or continue Mobius’s line of product.
If it’s the latter, Mobius will count itself lucky to get another go at the Kenyan car-manufacturing market—most Kenyan companies that enter liquidation do not make it back from there. But the real problems still persist.
How will Mobius break into a market that overwhelmingly favours second-hand cars? If it cannot compete on price, what else can Mobius do?
One thing that has worked for other local manufacturers is focusing on luxury. For example, Morocco’s Laraki builds its cars with high export value and sells them to Europe. Others survive on government contracts.
There are two things: Mobius can adopt a lean manufacturing process so it doesn’t lose money when it sells for cheap—yet, still make its cars appeal to more Kenyans. Or it should focus on improving the export value to richer countries to increase the deal quality it gets.
The former is a likely option given Mobius’s value proposition, but it’s a complete overhaul. Mobius should really consider making cars for richer countries, as prying Kenyans away from buying second-hand cars is a much harder thing to do.
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AI
South Africa publishes framework for AI policy
African countries are racing one another to become the Artificial Intelligence (AI) powerhouse of the continent.
Yesterday, South Africa’s Department of Communications and Digital Technology (DCDT) published the first draft of its National AI policy, asking AI stakeholders in the country to give feedback ahead of the policy launch in September 2024.
The framework is mostly a rehash of its previous draft: to build and scale research, to develop talent, to apply AI in governance, to use AI ethically, and to make AI training models inclusive. The stated pillars were mostly the same as what Nigeria published in its own AI policy draft on August 1, 2024.
However, South African stakeholders in the industry are impressed. Since Solly Malatsi, the Minister of Communications and Digital Technologies took over in June, there’s been a lot of chatter around how he’ll tackle AI, and build a framework for its continuous development in the country.
Unlike other African countries, South Africa is heads and shoulders above its peers in AI development. In the past, it has funded AI military research centres and implemented country-wide AI skill development programmes. Even well-funded AI and AI-as-a-service companies like Xineoh and Dataprophet have significantly contributed to this advancement in South Africa. This is what is lacking in other countries; aside from Mauritius, Rwanda, and maybe Nigeria, very few other countries give chase to the pace of AI development in other continents.
Importantly, the framework highlighted “supercomputing infrastructure”. The next phase of South Africa’s AI development is building the infrastructure to support AI scale. The prediction is on building AI accelerators (semiconductors) to improve AI algorithms and its performance. This technology will be critical to position the first country to achieve this scale as Africa’s AI hub. For now, South Africa looks most likely to get there first.
Insights
Funding tracker
This week, South Africa-based SaaS startup Open Access Energy (OAE) secured $750,000 in seed funding from Factor[e] Ventures. (August 14)
Here’s the other deal for the week:
- Kredete, a Nigerian digital lending marketplace startup, secured undisclosed funding from Launch Africa Ventures. (August 14)
Follow us on Twitter, Instagram, and LinkedIn for more funding announcements. Before you go, our State of Tech in Africa H1 2024 Report is out. Click this link to download it.
Paystack Virtual Terminal is now live in more countries
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Crypto Tracker
The World Wide Web3
Source:
|
Coin Name |
Current Value |
Day |
Month |
|---|---|---|---|
 Bitcoin |
$56,877 |
– 3.67% |
– 10.48% |
| Ether |
$2,537 |
– 5.13% |
– 25.87% |
 Toncoin |
$6.53 |
– 6.63% |
– 11.25% |
| Solana |
$140.70 |
– 2.41% |
– 12.09% |
* Data as of 22:25 PM WAT, August 15, 2024.
Events
- We are two months away from Moonshot 2024. From October 9–11, 2024, at the Eko Convention Centre, Lagos, Nigeria, you can join Africa’s biggest thinkers and players like Iyin Aboyeji, Wiza Jalakasi, June Angelides, Kola Aina on a global launchpad for change. If you want to join these stakeholders in Africa’s tech ecosystem for three days of insightful conversations, then get a ticket to Moonshot 2024 here.
- Step into the Future with AWS Community Day West Africa 2024! Are you ready to be part of the revolution shaping the next era of tech? Join the trailblazers, visionaries, and innovators who are pushing the boundaries of what’s possible. This is your chance to connect, learn, and ignite your passion alongside the brightest minds in the industry. Don’t just witness the future—be a part of it on September 27th & 28th. Register today.
- Join Career Brunch 2024 on August 17, 2024, in CcHUB with successful professionals from diverse fields and beyond for an exclusive (physical) career hangout for all professionals. Whether you’re a 9-5er, entrepreneur, founder, or young-and-coming professional looking to climb the career ladder, scale your business or transition, Career Brunch has something for you. This is your golden ticket to connect with industry leaders and professionals from MTN, CcHUB, McKinsey, Spotify etc., gain invaluable insights, and supercharge your career trajectory. Get your ticket at www.tix.africa/thebrunch.
You should definitely read these 
Written by: Emmanuel Nwosu, Stephen Agwaibor & Faith Omoniyi
Edited by: Muyiwa Olowogboyega & Timi Odueso
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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.
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