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Nigeria

Tech startups, Accounteer & MyPadi.ng emerge winners at the #NES23 startup pitching event

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The just concluded 23rd Nigerian Economic Summit (NES23), which is jointly organized by the Nigerian Economic Summit Group (NESG) and the Federal Ministry of Budget and National Planning has announced winners for its startup pitching event.

Before now, NESG had received some 263 applications from startups across the whole Country. Applications by the start-ups was made during the three weeks the application portal was opened. But today there are winners, and we are proud to inform you that start-ups operating in the technology space were not left out.

The winner of the startup pitching event was L & L Foods. While the first runner-up went to Accounteer. Accounteer is a product that helps business owners to easily manage their administration themselves without being financial experts. The startup help businesses professionalize, grow, and automate their administrative processes.

MyPadi.ng, a hostel booking platform for students emerged the second runner up at the summit winning $5,000 in its naira equivalent.

The winner of the pitching event went home with $15,000, while the first runner up made do with $10,000, and the third, $5,000. It’s good to see tech start-ups representing, isn’t it?

The 3 day summit ended today, and had a lot of high profile individuals in attendance. The startup pitching event showed that tech in Nigeria is getting some well deserved attention.

Do you have a budding Start-up in Nigeria? Apply for Google’s upcoming Developers Launchpad. See details

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For the first time ever, Google is bringing the Developer Launchpad to Lagos, Nigeria with Co-Creation Hub (CCHub) being the host.

The Developers Launchpad is a program initiated by Google and broadly aims to bring together budding start-ups or start-ups in their early stages and providing support in the form of mentorship, tutoring, guidance and more. Basically, the Google Developer Launchpad grooms start-ups founders and help them take their start-up to the height they hope to attain and beyond.

The Google Developers Launchpad will play host to start-ups based in Nigeria for a whole week and the hosting company, CCHub Nigeria has called upon startups in their budding phase to come learn and acquire some key start-up knowledge and gain skills which revolves around technology, product strategy, marketing, UX and UI, and business developments.

The Developer Launchpad which CCHub calls a “bootcamp” will comprise of seasoned mentors and trainers who will educate the participating start-ups in line with the program’s objectives. At the end of the one week long intensive training session which will be filled with presentations, workshops, and mentoring, the startups are expected to have gained a lot of insights which will help grow their start-up.

“At the end of the 1- week bootcamp, participating startups will have four key take-aways; an improved product strategy, an optimized Minimum Viable Product, a technical excellence plan and a viable digital marketing strategy”, a statement picked up from CCHub’s official website reads.

The Developer Launchpad will commence on November 6, 2017 and run through November 10, 2017.

The program is open to all startups based in Nigeria as long as they meet the following criteria below.

Participating start-ups must;

  • Have been in operation for at least 6 months but not more than 18 months.
  • Have a Minimum Viable Product (MVP)
  • Have at least two co-founders and at least one of the founders must be a technical co-founder.

Read more about the Google Developers Launchpad HERE.

Interested Startups can apply HERE.

Analyzing TSTV Africa’s “5000” Penetration Strategy; will it crown them King of Satellite TV in Nigeria? {cont’d}

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Continuing our analysis of TSTV Africa’s “5000” penetration strategy, we conclude by looking at the second part of the strategy below.

2. Gifting 5,000 Decoders

Though the satellite TV launched on the first day of October, it won’t however be available till November. But come November 1st, the Cheif Executive Office who is also the Managing Director, Bright Echefu have made it known that five thousand (5,000) decoders and satellite dishes will be given out for free to selected individuals in different regions across all 36 states in the country. Keyword here being FREE.

As it mostly is with every new brand, it is understandable to want to give out gifts or offer services to customers at a discounted price for the sole purpose of attracting customers. But trust me when I say 5,000 is a lot. Subjection this to calculation, giving out 5,000 Decoders for free is equivalent to the company giving out 25 million naira (given that a decoder is worth 5,000 naira).

If one cue can be taken from the above information, it would be that TSTV is not here to play. To further shows how thirsty TSTV is to dominate the Nigerian Pay TV market, the C.E.O in a chat with people of the press about 2 weeks ago made it known that the 5,000 recipients of the free decoders will also enjoy free installation in their respective homes.

Meanwhile, while the “lucky” 5,000 recipients of the free decoders will be all smiles, happy and most definitely promote TSTV via recommendation, TSTV as a company also stands to benefit from the as it provides an avenue to test the ​strength of their signal and better their services; typical example of a win-win scenario, with TSTV being the bigger winner.

3. Employing 5,000 Nigerians

While TSTV revealed that a total of 3,000 person’s and companies have applied to be their agents, a Vanguard NG post also disclosed that the Satellite TV company has plans to hire 5,000 Nigerians. This move aims at reducing unemployment rate in the country as well as ensuring full coverage, presence and forceful penetration in all states of the nation.

In a nutshell, the low 5,000 naira purchase price tag, the gifting of free decoders to 5,000 individuals, employment of 5,000 individuals, free installation, the inherent curiosity and naive nature of Nigerians to try new things, as well as the mouth-watering complementary packages of TSTV all boils down to providing revolutionary Pay-As-You-Consume Pay TV to Nigeria.

But will the above strategy make them the favourite Satellite TV of the Nigerian people? Will they penetrate deep into the Nigeria Pay TV market? How soon can they trump the rivalry and dominance of other satellite TV brands? Can they sustain the cheap service price and subscription fees? Will the Pay TV company provide quality service? Will TSTV become King of Satellite TV in Nigeria? Time, they say, will definitely tell.

Analyzing TSTV Africa’s “5000” Penetration Strategy; will it crown them King of Satellite TV in Nigeria?

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It wasn’t too long ago that Telecoms Satellites (TSTV) Africa launched in Nigeria and we also reported the incredible services they proposed to offer and the unbelievably juicy complementary bonuses and attractions that followed. One of the highlight attraction was the affordably cheap price of the Set Top Box and entire TSTV setup (compared to other Satellite TVs) which was pegged at N5,000. And while we were still dangling in the web of the affordability euphoria, TSTV pulled up another “5,000” stunt (will be discussed below).

We will therefore do some breakdown to see if TSTV can penetrate deep into the heart, mind and soul of Nigerians to the point of loyalty.

1. The 5,000 Naira Purchase Price

TSTV boasts of over 200 channels ranging from Sport, to Entertainment, to Kiddies Channels, Religion, Movies and many more. But to have access to this, the entire TSTV Set Top Box which comprises of the square-shaped decoder, Satellite Dish, Remote and some cables is required to be installed in one’s home. Now to the best part; it all costs N5,000 only (well, according to TSTV).

The N5,000 price tag puts TSTV right at the bottom of all other Satellite TVs in the region putting price as the basis of comparison.

The Cable TV that can come close to rivaling this price is StarTimes. The StarTimes Set Top Box comprises of a decoder, an indoor antenna, a remote, and one month of free subscription, all between N3,900 – N6,400. But (yeah, there’s a but) if you live in an area in the country where StarTimes frequency or network reception is poor, you will purchase and outdoor dish which will cost you additional fee and take purchase to a total of N8,800. So, TSTV wins.

GoTV (also run by MultiChoice, the same company that runs DSTV) can also rival TSTV. GoTV’s Set Top Box comprises of a decoder, remote, an indoor antenna and comes with one month of free subscription on purchase. Interestingly, GoTV does not require an outdoor dish but comes in at N6,900, N1,900 higher than what TSTV is offering. However, asides the price factor, it is only logical for Nigerians to pick TSTV over GoTV because the latter is offering access to over 200 channels, while the former, 38.

Therefore, going by the “The lower the price, the higher the demand, and vice versa” primary rule of Economics, I believe the N5,000 price tag strategy will snowball the demand for TSTV, or even maybe abnormally but that is only if the low price is accompanied by great, stable, charming and enticing contents. And if TSTV can pull that off, it is only normal for positive feedbacks and recommendations to follow, and before you know it, the Satellite TV will ride comfortably to the throne of dominance.

 

Branch confirms its $2m funding & officially launches in Nigeria

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Mobile financial services firm Branch has confirmed it raised KSh200m through a commercial paper arranged by Kenya’s Nabo Capital as TechMoran had earlier reported.

The firm has officially launched in Nigeria too, after reaching 450,000 customers in Kenya who have collectively taken out 2m loans totalling KSh 4 billion.

“Branch has achieved something unique in the Kenyan market. Despite being a startup that’s less than 3 years old, they have managed to issue a competitively-priced paper without relying on any external guarantees”, said Teresia Muthoni, General Manager of Advisory at Nabo Capital.

Since launching in the Kenyan market in the spring of 2015, Branch has seen strong demand for its unsecured loans. Applications for up to KSh 50,000 can be made via the Branch Android app, with successful applicants receiving their loans via M-Pesa in seconds.

The mobile lender has reached a monthly disbursement run-rate of KSh 400m and is growing its loan book by 15% every month. Branch used its loan book as collateral for the facility in one of the first deals of its kind.

Daniel Szlapak, Director of Africa for Branch, explains that the company will look to debt funding to expand its business worldwide.  “We expect to raise close to $50 million dollars in both equity and debt funding in the months ahead as we take the Branch App to emerging economies across the globe.”

The company expanded to Tanzania in 2016 and has recently started lending  in Nigeria.  Other markets across the globe will follow. Branch uses proprietary machine learning algorithm to make lending decisions. It uses advanced data science to calculate a credit score for its customers by analysing the information on their phone. Branch’s toughest competitor is Silicon Valley-based and heavily funded Tala formerly known as Mkopo Rahisi.

In December 2015, Branch became the first African company to raise investment from US firm Andreessen Horowitz, whose portfolio includes Facebook and AirBnB, closing a $9.2m Series A round. The mobile-based financial services company has since raised over $15m in equity and debt funding to date.

ScholarX Launches Village, a New Education Crowdfunding Platform

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ScholarX has launched Village, an education crowdfunding platform where African students (Secondary, undergraduate and graduate) seeking financial assistance can create a funding request to pitch themselves to the public on why they should receive donations to help fund their tuition.

Donors do not need to worry about their contributions as ScholarX has put measures in place to prevent theft or scam. This is why “We control the entire process to ensure its integrity, and so we pay directly once we receive the funds on behalf of the students”, the startup said in a statement.

On why the education crowdfunding platform was introduced, SchorlarX explained that “In a country like Nigeria with a huge youth population, the difference between staying in school and street hawking could be as little as N5,000 ($15). Thus, We need more sponsors to bridge this gap.”

  

How it works

  • Secondary (high) School and University students
  • ScholarX verifies the profile manually (working on a proprietary product that automates the process using Blockchain Technology)
  • ScholarX pays directly on behalf of the funded student.
  • Donations can be made in Naira (Paystack/Bank transfer) or Dollar (stripe), and currency conversion is in built.

Dankoli Wants To Help You Trade In Northern Nigeria

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If you are unfamiliar with the business terrain of Northern, you may not be successful when it comes to trading in that part of Nigeria.

To help you with this, Dankoli which is an online marketplace to connect buyers and sellers that aims to do business in Northern Nigeria via their mobile phones has launched.

Founded by Khaleed Oyewo, Onyechi Kenechukwu and Michael Mallo in 2016, the startup aims to revolutionise commerce in northern Nigeria by making it easy to do business anywhere within the region.

On what motivated them to establish Dankoli, Oyewo said that they were prompted to develop a scalable platform that will facilitate trade within the region due to the Boko Haram insurgency which has discouraged some Nigerians from trading in the North as well as the vast population in the region which amounts to 30 million. Many of whom are willing and ready to do business.

Throwing more light on Dankoli, Oyewo said: “While developing Dankoli mobile app we considered the masses which made us focus on a data independent app i.e. with or without internet when a user connects online it sync using our location-based technology to serve items within the user location. We are also considering the strategic integration of Facebook free basics so we can offer a 100% data free app.While we just launched our Android version, we are currently working/debugging an iOS version that will be launched in coming months.”

So, when next you think about doing business in any part of Northern Nigeria, it is highly recommended that you use Dankoli because it is the most reliable platform that connects you with sellers and other businesses in the region.

Commissions.ng Set To ‘Uberize’ eCommerce In Nigeria

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When you think about eCommerce in Nigeria, the two names that pop into your mind are Jumia and Konga. Between them, they have made millions of naira from Nigerians and commissions from merchants who post their products on their website.

However, a startup, Commissions.ng is set to change this routine as they are giving businesses and ordinary Nigerians the opportunity to make money.

Founded by Ehis Asibor this year, interested merchants visit commissions.ng to list their products /services. Individuals /businesses interested in eCommerce visits the website and generate their own personalised eCommerce website.

This personalised eCommerce store comes pre-loaded with over 1000 products, which belongs to the merchants. The individual/businesses market the website to their target contact and he/she earns a commission per sale.

Interestingly, deliveries and all orders made by customers are handled by Commissions.ng.

The implication of this model is that users of the website do not need to spend a dime hosting or web designing a website, creating a safe and secure payment platform and warehousing. In addition, you do not need to concern yourself about delivery.

 

This Nigerian Startup is Making it Easy for Filmmakers to Find Filming Locations

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Each time a new movie is released, we all get excited, and head to the nearest cinema showing it. But, before great movies come to life, filmmakers face tons and tons of challenges. One of the most notable is hunting for filming location. This is one task that’s both stressful and time-consuming, but filmlocations.com.ng wants to make it easy.

The platform is online marketplace that connects filmmakers to suitable locations for TV, commercial, movies, music video and photography projects.

Film Locations is similar to a property listing platform, only difference is these properties are available for film-makers who want to shoot a movie.

To use the platform users simply search the Film Location database that contains various types of locations; from high-end apartments, old abandoned factories to street side shops. They are also able to make a request in cases when they do not find their desired location on the platform.

Through the platform, they can connect with an agent associated with any property of their interest, who will book the order, prepare the locations and take care paper works. Property owners make their properties available for film makers by listing them on the platform.

According to the founders, to ensure a hitch free filming process, they claim to manage the process end to end and save filmmakers time and money, make it easy for owners to monetize their properties and ensure proper inventory before and after shoot.

Being innovative is the only way forward for a market like the real estate, which has become saturated with a lot of property listing platforms. This is what Film Location has successful done, and it sure has a potential of being a go to place for film makers around Nigeria.

Paga Announces That It Is Now Fully Integrated Into Nigeria’s Banking System

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Paga, one of the early payment platforms in Nigeria, has announced it is now fully integrated into Nigeria’s Banking System. This is according to Tayo Oviosu, the CEO and founder of Paga.

Explaining Paga’s mode of operation before the integration, Oviosu said that it took about two hours to verify a transfer. As a result, they had a lot of angry customers.

“When Paga launched to the public the only way to fund an account was either at a Paga agent or by visiting a bank branch to deposit to our bank account. If you used the second approach you had to notify us on our site. Two members of our team had to verify your deposit before we gave you electronic value. We termed this process “manual deposit”. We had 20 staff to make this manual deposit process work! It took us about 2hrs on average to process any deposit. Sometimes the banks didn’t post immediately, sometimes they didn’t post until evening. We could only give value when we saw money in our account. Other times we just had a major backlog. Either way, we had irate customers, and understandably so.”

Since this manual deposit process cannot be scaled, Paga had no choice than to work directly with banks.

Oviosu said that they started with 6 banks (including all major banks) adding that “Today, Paga is now connected to all banks in Nigeria. You can transfer money to your Paga account instantly, using your Paga 10 digit account number, from any bank in Nigeria. You can also transfer from Paga to any bank account in Nigeria instantly. This is a core foundation for the future.”

Paylater.ng Now Issues 1,000 Loans Daily

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Nigeria’ Paylater.ng,  a startup that offers small loans has disclosed that it now disburses 1,000 loans daily to Nigerians. This is a far cry from the 200 loans a day it issues earlier this year.

The startup made this revelation on its Medium page. They wrote: “We set ourselves what we felt was an aggressive target of 1,000 loans issued on a daily basis. We felt it was ambitious not because of a lack of demand (who hasn’t got a friend that needs a loan?) but rather the challenge to risk-assess 1,000 people that we had never met, living in all states of Nigeria and then disburse within a short time frame to their bank accounts.

“Today, over 60% of these 1,000 loans are disbursed within 1 minute with the rest all under 5 minutes and they span a range of N7,500 to N200k for first-time borrowers.”

The startup explained that between 10% and 20% of their customers’ default in payment. “The inevitable question is “yes, great but are you profitable? Anyone can give out loans — but are you collecting?” Our mothers taught us not to boast, so let’s say that our default is between 10% and 20%, but trust us that it’s a manageable number. If you don’t believe us then look out for us early next year — if you are right, then we won’t be around.

“Moreover, for most local banks, “financial inclusion” is just another way of saying “let me provide another channel to take your savings”. Less than 10% of customers have accessed loans from any formal financial institution but you don’t see banks showing the same energy to grow their retail assets as they do their retail deposits. We are also unhappy with the cost of borrowing but with a cost of funds at around 30% and inflation running at around 15%, we have no choice.”

On what they want to achieve next, the startup wrote that it would like to increase its number of customers.

“Our next goal is to keep amassing large numbers of customers so that we can break the stigma that the so-called lowly worker is not trustworthy. Our next goal is to keep amassing large numbers of customers so that we can break the stigma that the so-called lowly worker is not trustworthy, or that if you give that first-time entrepreneur a loan (s)he will not pay back.”

MultiChoice Nigeria Introduces Pay Per View (PPV) Pricing Model to Subscribers

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MultiChoice Nigeria has introduced Pay-Per-View (PPV), where viewers pay an additional fee to watch a particular programme either on a cable or a satellite TV.

According to the Head of Public Relations Caroline Oghuma, the concept is different from pay-as-you-go, which has been misconstrued to mean pay-per-view.

“Pay TV operation is not like the telecom version where you pay for the amount of airtime you want to use. Pay-as-you-go, as believed by some customers, is not obtainable in the pay TV business,” said Oghuma.

Noting that the PPV model is a global practice which allows interested parties pay and view special programmes or events, Oghuma stated, “Paying for PPV in Europe and the UK is equivalent to paying for two months subscription in Nigeria. We know Africans love boxing that is why we are bringing the best thing that is happening in the world to Africa.”   

The concept is only obtainable when there is a super-programme airing. In the case of MultiChoice customers, those on the premium bouquet will be able watch it. When such a programme is beamed, a dedicated channel pops up and disappears after the programme is aired.

5 Nigerian Startups Providing Solutions For Small Businesses

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With technology growing rapidly in Nigeria, the number of entrepreneurs also keep shooting up. While taking advantage of the opportunities provided by technology, young entrepreneurs are coming up with disruptive ideas that solve real problems faced by the average Nigerian.

As these ideas transform into thriving businesses, every year, we get to see dozen of startups offering solutions that are nothing short of creative.

Here are 5 of such startups that are using technology to solve common problems faced by small businesses.

1. Accountinghub

In a bid to eliminate the need for small businesses to recruit or train in-house accountants, Accountinghub has specialized in cloud and virtual accounting to enable them offer simple but professional accounting services.

Accountinghub is Nigeria’s small business accountant. The startup is a bookkeeping practice firm which services Startups, small businesses, Projects and entrepreneurs. They help small businesses and Projects track their every kobo, organize accounts, systems and processes.

Selling accounting products via its online shop, Accountinghub also introduces retail, virtual and tech-accounting in Nigeria.

2. Invoice.ng

Invoice NG is an online platform that provides a simple and convenient way for business owners to bill clients and get paid. According to the founder, Olaoye Somide, paper works could be quite tiring for small business owners. Hence, Invoice NG gives a paperless alternative.

Asides giving small business owners a seamless way to go about their invoicing, it makes it possible to track all issued invoices, be it paid or pending. In addition, business owners can easily send payment reminders to customers when necessary. This facilitates business management and ensures that services are promptly paid for.

3. Independent Personal Assistant

We all know how soul draining doing office chores can be. Things like spreadsheets, social media management, and emails are some of the necessary evils that append themselves to actual, productive work. This is why Ibukun Akinnawo launched Independent Personal Assistant (iPA) to take all that soul draining stuff off your hands for cheaper than an actual PA would.

iPA is an agency that provides skilled virtual assistants to entrepreneurs, professionals, executives and small teams across the globe.

The startup provides professional administrative, technical, and creative assistance to clients through its team of dedicated virtual assistants. According to the iPA team, “think of us as your very own Personal Assistant to handle time consuming tasks”. They pretty much provide that all round support that a busy person would need.

4. DIYlaw

World Bank’s Doing Busines report ranked Africa’s largest economy 169th out of 189 countries. Nigeria ranked 39th among the listed African countries. When it comes to registering a company in Nigeria, it takes a whole lots of strssful processes that can run into months. This is what DIYlaw was launched to address.

DIYlaw is Nigeria’s foremost legal technology company that empowers entrepreneurs by providing access to simplified and quality legal services and information at affordable prices using technology, legal know-how and project management.

The startup seeks to make registration and legal processes more accessible, professional and transparent for entrepreneurs seeking to do business in Nigeria by being a one-stop online portal for fulfilling registration and legal needs. From company registration, to trademark registration, business name registration, and providing businesses with legal services, they make the process of getting a business started really easy.

5. Paystack

There are many barriers businesses have to face to accept payments online and that’s what Paystack is fixing. The startup has taken a bold move to revamp the Nigerian payment system.

Paystack is a payments platform that makes online payments process seamless for both the consumers and the businesses they are trying to pay. The Paystack platform makes easy for merchants to accept credit and debit card payments online from customers.

According to Shola Akinlade, Cofounder of Paystack, “the problem of payment has always been there and begging for someone to pick it up, and fix. There’s a big gap, and people are looking for means to get paid. We’ve done businesses before, we know how it goes, we’ve seen how things are being done outside of Nigeria, and when the opportunity came to really fix this problem, the prospect was really very exciting.”

This Startup is Allowing Nigerians Order Wine Online

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With the growth of ecommerce, the possibility of meeting just about need is endless. We’ve seen eCommerce platforms spring up in different industries, and for a wide range of products.

Here’s Wines et al, is an ecommerce platform for wines

According to the founder, the platform has an extensive selection of high-quality, competitively priced wine and spirits from around the world, and since launch it has served clients across Lagos.

Founded by Osaze Igbinovia in April 11, 2014, Wines et al works like most eCommerce stores. Users have to sign up, browse through the available range of products, order preferred wine and then check out.

To meet and satisfy the needs of varying clients, the platform retails wines like Champagne, Spirit, Non-alcoholics wines, Syrups, and a lot more, with a wide range of prices.

With Nigeria being a country that’s big on events, you can be sure that wines would be one of the important features present at these events. Asides events, they grace the shelves of many Nigerian homes.

With these, and the existence of similar platforms like myshayo.com and drinks.ng, it seems the market for wines in Nigeria is profitable.

PoshRite Wants to Allow Women Book and Discover Beauty Product and Services

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With women always on the lookout for products and services that’ll enhance their beauty, PoshRite wants to make it a lot easier.

The platform, which is set to launch soon, is an online beauty social network that provides African women with the best beauty products and services both locally and internationally.

Through the platform, women would be able to book and discover the best beauticians, beauty services and products on the go.

PoshRite would also allow beauticians manage and grow their beauty business by giving them the tools they need to be successful. Beauty and health businesses are also able to sell their products and services in a Groupon like marketplace so that users are constantly getting the highest quality at a discounted price.

For female beauty enthusiasts, they would be able to connect with each other, search for beauty content on PoshRite and explore a vast range of informative content, and purchase coveted products and services.

The search feature is the first encounter on PoshRite, which would allows users search for specific interests. Once they see their friends and/or local stylists they know, the users will be motivated to sign up and interact with their local network. Active users can purchase the products they want and schedule an appointment with the stylists they want—all by using just their mobile phone, tablet, or personal computer.

Find the idea interesting? Then you should keep an eye on PoshRite’s website, so you know when it’s officially launched.

Nigeria, Kenya and South Africa Among 29 Countries Eligible To Apply For 2018 Chivas Venture Competition 

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Nigeria, Kenya and South Africa have been listed among the 29 countries that can apply for the 2018 Chivas Venture competition for innovative startups that use business to solve global social or environmental challenges.

The Venture is a global search to find and support the most promising startups with the potential to succeed financially and make a positive impact on the lives of others. The most promising startups; one from the 29 countries participating in the Venture will make it to the global final and have a chance to win a share of $1 million in funding.

The first $200,000 of the fund will be distributed based on the number of votes received during a three-week online voting period. The finalist who will get the most votes will receive $50,000, the next 4 runners-up will each receive $20,000, and the remaining $70,000k will be split equally amongst the remaining finalists. At the Chivas Venture Final pitch event, each finalist will have a chance to pitch for a share of the remaining $800,000 in front of an expert judging panel.

The global finalists will feature on The Venture website and crowd funding site IndieGoGo.

Eligibility

Chivas Venture is  for businesses in:

  • Seed stage (which means the product is still in prototype stage and the business is not yet generating revenue from customers or users yet).
  • Startup stage (which means the business has a working prototype of its concept, ideally with some demonstrable user traction, generating a maximum of US $500,000 or local currency equivalent; in annual revenues and has been incorporated for no more than three years) or
  • Growth stage (which means the business is beyond the working prototype stage, and can show significant user traction and sales, generating a maximum of US $1 million or local currency equivalent; in annual revenues and has been incorporated for more than three years).
  • You will have a strong vision, a compelling idea and a solid business plan.
  • You will also need to showcase how your business has a positive impact and articulate how funding would help to take your business to the next level.
  • You must be over 25 to enter The Venture.

Benefits

A share of the $1 million fund

If you are selected to take part in the global final, you will have the opportunity to win a share of $1 Million in funding. Each finalist will have the chance to tell us how much funding they seek and how they believe this will make a difference for their business.

The Venture Accelerator week

Over the course of a week, all the finalists will take part in a variety of intensive business master-classes at some of the world’s leading businesses to help them sharpen their skills.

Mentorship

We have recruited a team of experts in partnership with the Skoll Centre at Oxford University to provide business and pitching support to The Venture’s global finalists.

Global exposure

The global finalists will feature on The Venture website and crowdfunding site IndieGoGo. Our international campaign will reach millions of people around the world, offering incredible exposure for your business.

 

Interested startups from these countries have between 4th September 2017 and 30th October 2017. Click here to apply.

 

 

 

 

 

247 Interns Is Connecting Nigerians to Internship Opportunities

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For students and graduates seeking opportunities to gain industry experience, internships usually come in handy, and over the years, a number of platforms have sprung up, dedicated to connecting employers with interns.

The newest of them is 247 Interns, a recruitment portal that connects those seeking internships to potential employers and vice versa.

Launched in August 2017 by Akinwunmi Okuyiga and Okuyiga Busayo, the platform is a social professional network designed to connect the most talented interns (both students and graduates) with employers, and also create a platform for interns to network.

According to the founders, “247 interns was created with the aim of connecting employers and interns online in the easiest and seamless way possible. Our interactive platform matches interns with employers and relieve the time-consuming burden of repetitive job posting and application processes, whilst also opening up market visibility for interns and employers alike”.

The need for internships has been on the rise lately. For small businesses and startups, hiring interns is usually more cost-effective, and for interns, it provides an opportunity to gain practical and professional experience.

So, the market is one that’ll likely be profitable for 247 Interns if done right, and if they are able to prove their worth despite having established players like Stutern and Sesewa to deal with.

The team banks on affordability, social networking, and seamless usage as their selling edge and a variety of jobs and services such as language translation  for the interns.

Food-i-Like Launches To Deliver Your Favourite Meal Anywhere, Anytime In And Around Abuja

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The online food delivery platform is quite saturated as many startups have emerged to deliver food at your doorstep.

From Jumia Food to NaijaEats, Areachops, the Kitchen, Foodstantly and Citychops among others. You see the food delivery platform in Nigeria is quite competitive.

Well, another one is making its debut and it is Food-i-Like. Food-I-Like is an Abuja-based startup where you can order and deliver food anywhere and anytime in Nigeria’s capital city.

On the platform, you can order both continental and traditional cuisines from any of your preferred restaurants.

Users simply choose their local restaurants, select meal and either pay by card or cash on delivery.

 

 

Joe Falter Appointed As The New CEO of Jumia Travel

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Jumia Travel has announced the appointment of a new Chief Executive Officer, Joe Falter, succeeding Paul Midy who has exited the top post to take a different position in the larger Jumia Group. Falter, who is also the Founder and CEO of Travel’s sister company Jumia Food, assumes the role as part of efforts outlined to further bolster the company’s operations.

“I could not be more excited to join this dynamic team which is revolutionising the way that people travel in Africa and beyond. With by far the biggest hotel inventory and market leading innovations, Jumia Travel is a clear leader in travel, tourism and hospitality, and I am thrilled to be leading the business forward” Says Joe.

Previously a management consultant at McKinsey in London, and with a track record of scaling companies in Europe and Africa, Joe brings with him a unique shift in strategic management that will help capitalize on emerging business opportunities.

Commenting on his first move as the new travel company’s boss, Joe ascertains that “Jumia Travel has grown exponentially in the last 2 years and the immediate objective is to continue this rapid growth trajectory while further strengthening our offering to customers and hoteliers. Our 30,000 hotel partners in Africa and hundreds of thousands of customers will be treated to exciting new developments online and offline.”

“I am confident that Joe is the right leader to accelerate Jumia Travel to become the only preferred travel agency in Africa and beyond,” says Jumia Co-Founder Sacha Poignonnec.

Founded in 2013, Jumia Travel has built a track record in e-commerce and technological innovation, becoming the leading online travel agency in Africa. It offers online hotel and flight booking services as well as tailor made packages for its large inventory of customers, both individual and corporate.

 

Nigeria’s Probityfarms Aims To Improve Food Production Via Technology

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There is no doubt that the mainstay of Nigeria’s economy is crude oil. It contributes between 70 to 80% of the country’s Gross Domestic Product. This is why the economy was terribly affected when the prices of crude oil crashed and as a result, Nigeria entered into a recession.

Now the economy has rallied back and we are officially out of recession. One of the sectors that contributed to this recovery is the agriculture sector.

The role of agriculture cannot be downplayed in any economy. However, in Nigeria where we import over 80% of what we eat, we are still nowhere when it comes to agriculture. In rural areas, they still use hoe and cutlass when the world has moved on to digital and mechanised farming.

The truth is more efforts need to be made to boost agriculture in Nigeria and one of such startups tapping technology to boost farming is the country is Probityfarms.

Probityfarms is a platform that allows farmers to manage all activities of their farm both crop and livestock; to schedule tasks, track input (fertilizer) usage and get SMS/email reminders of farm task. They can also capture sales, track expenses, calculate loans repayment and generate accounting reports.

Probityfarms, which was co-founded by Olushola Ogunniyi, helps the farmer through the online farmers’ forum and farmers can get real time price list of farm produce across the country.

The startup also provides information to farmers about existing pests, weed and diseases and possible solutions or chemical to apply.

So whether you are farming crops, rearing animals or raising livestock, ProbityFarms will assist you to manage all your farm activities, make sales, send invoices and capture expenses.