This Week in Tech: Celebrating our women - "Ifeomna Nwobu’s dynamic interest led her from modeling to tech"
As a child, I wanted to be an actor. I loved fashion and music. At some point, I became interested in Academia and teaching generally.
Hi,
Yesterday was International Women’s Day and I hope you took out time to celebrate the women in your life - mum, wife, sister, friend, and colleague. To celebrate it, we’ve shared an interview with Ifeoma Nwobu - COO of Sendstack, a mobility tech startup, in Lagos, Nigeria. She said; “I planned to get into tech as an engineer. I was actively learning how to code but eventually quit when I realised it was not exactly my strength. I got my first job in Tech in marketing and product growth.”
Read the rest yourself. Let’s jump to news that happened This Week in Tech.
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Why African tech startups are bucking global trends with record investment
Gasaatura was speaking as part of episode one of “The month in VC”, a new monthly podcast series focused on all things venture capital launched by Disrupt Africa in partnership with Katapult, Grindstone Ventures and Kalon Venture Partners. In the same episode, Catherine Young, managing director of the South Africa-based Grindstone Accelerator and Grindstone Ventures, also sounded a note of caution with regard to the numbers, but hoped Africa will continue to buck global trends. “It will continue to grow I’m sure and I’m hopeful that we will buck the same trend as we continue to build our base for the year ahead,” she said. Disrupt-Africa
International Women’s Day 2023: Digital expert honored by Government of Côte d’Ivoire talks to Bank Vice President Dr. Beth Dunford about women in digital sector
The Ivorian Ministry of Communication said I was the only woman in the digital field to have been decorated that day and also the youngest. So, for me it’s a double pride because we know that this field is very male-dominated. The exact phrase {for the honor] is that I was honored for my work, for my contributions to my community – not only technical support, but also for what I am teaching my community. The Government of Cote d’Ivoire realized that people from practically all across francophone Africa are coming out to me to learn [digital skills]. I teach in an altruistic, free and playful way. AFDB
How Ifeomna Nwobu’s dynamic interest led her from modeling to tech
My Pivot Journal. Ifeoma B. Nwobu is the COO of Sendstack, a mobility tech startup, in Lagos, Nigeria. But before this tech sis started pitching to investors, she was once the face of Vogue online, a model who walked the runway for top designers like Laquan Smith, Lisa Folawiyo, Lanre Da Silva Ajayi to mention a few at top fashion week events. How did she find her way to tech? Here is Ifeoma Nwobu’s pivot journal. Ventures Africa
Beyond fintech, these emerging tech sectors are fueling growth in Africa’s tech ecosystem
In 2012, fintech was just starting to gain traction in Africa, between 2014 and 2019, Nigeria’s fintech sector alone raised more than $600 million in funding. According to Disrupt Africa’s 2022 report on tech disruption in Africa, 633 startups raised over $3 million representing a 1,694 percent increase in both the number of tech startups and the amount of funding. About 11 non-fintech startups- asides from the fintech’s nearest competitors- raised the majority of the capital in 2022, and have had faster growth rates in the last seven years. Ventures Africa
Why MFS Africa is piloting its Western Union remittance play in Madagascar
MFS Africa, the largest pan-African digital payments network, announced last week that it is partnering with Western Union to power the cross-border flow of money from over 200 territories into Africa, starting with Madagascar. Like its East African neighbours Kenya and Tanzania, Madagascar is riding a mobile money wave that has seen traditional banking lag behind in the region. Between 2013 and 2016, mobile money subscriptions doubled to reach over 4.6 million users. TechCabal
With alternative energy solutions in high demand, can SA’s greentech startups seize the opportunity?
South Africa’s national power provider Eskom goes through its seemingly never-ending challenges which have plunged the country into literal darkness, the demand for alternative energy sources is surging [pdf]. Venture capital inflow into greentech startups has been few and far between. According to Michael Maas, founder of Zimi, a startup whose flagship product is an app that allows users to charge their electric vehicles, most local venture capital firms have not shown much interest in greentech startups. “There are a couple of VCs that are climate focussed in Africa, but very few in SA,” said Maas. “I think there is a larger capital inflow from institutional investors, but not so much on the VC or Angel side.” TechCabal
Egypt becomes first North African shareholder in Africa Finance Corporation
Egypt has joined Africa Finance Corporation, the continent’s leading infrastructure solutions provider, as the first North African sovereign shareholder, further diversifying AFC’s expanding equity investor base. An Africa Finance Corporation Member State, Egypt’s equity commitment and its imminent representation on the AFC Board of Directors enhances the Corporation’s pan-African spread of shareholders and diversified Board and management, which now includes governments, development finance institutions and institutional investors. Egypt’s Minister of Finance, H.E. Dr Mohamed Maait, said: “This equity investment is a testament to our confidence in AFC’s role as a trusted partner in delivering transformational impact in Egypt and overall in Africa. We look forward to boosting our partnership with the Corporation as we work together to develop the key infrastructure projects in the pipeline.” TechEconomy
Africa's Smartphone Market Declines Amid Inflationary Pressures and Weaker Demand
Africa's smartphone market declined for the sixth consecutive quarter in Q4 2022, with shipments down 17.8% year on year (YoY) to 17.6 million units. That's according to the latest insights from International Data Corporation (IDC), with the firm's Worldwide Quarterly Mobile Phone Tracker showing that Africa's feature phone market also declined in Q4 2022, with shipments down 16.2% to total 22.7 million units. "The mobile phone industry is now challenged by constrained demand even though the supply constraints that had previously been weighing on the market have started to ease off," says Arnold Ponela, a senior research analyst at IDC. "Inflation and economic uncertainty have seriously dampened consumer spending, causing vendors to cut back drastically on shipments as their largest markets continue to struggle. The situation is not unique to Africa, with smartphone shipments declining across all major global markets in 2022." IDC
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