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Nigerian B2B e-commerce startup, Alerzo, lays off 15% workforce. 2 other stories and a trivia



This line-up of stories will help you discover the latest happenings around the tech world, today

1. Nigerian B2B e-commerce startup, Alerzo, lays off 15% workforce

Nigerian B2B e-commerce startup, Alerzo, has laid off 15% of its workforce in the second round of layoffs.

Adewale Opaleye, founder and CEO at Alerzo, who confirmed the development in a statement on Tuesday noted that the layoff was informed by the economic challenges the startup is facing in Nigeria.

The development comes seven months after the corporation reduced its 2000-person team by 5% citing need to digitize its operations.

“Despite these challenges, we remain committed to our mission and are confident that this restructuring will enable us to better serve our customers and pursue sustainable growth.

“We are grateful for the hard work and dedication of all of these employees,” Alerzo said in a statement.

On employee benefits, Opaleye explained that it will honor all contractual notice obligations, including offering an extra one-month severance, and maintain HMO coverage through the end of 2023 for workers whose positions have become redundant.

Tech Trivia: ECC memory is also called what?

A. Static RAM

B. Parity RAM

C. Ultra RAM

D. Video RAM

Answer: see end of post

2. Senegalese tea start-up, Contanna, wins $25k in competition

READ ALSO:Nigeria’s Alerzo acquires Shago Payments to boost growth. 2 other things and a trivia

A Senegalese tea start-up, Contanna, has won $25k in an AgriPitch competition.

Adja Sembene Fall, Contanna’s founder, confirmed the development in a media release on Tuesday.

The success of her business has been largely attributed to the internet launch of the luxury tea items brand.

“Due to [lack of] finance, it was not possible to get a physical shop. We started out in the backyard of my brother’s house. We sold our teas via social media for three years,” said Fall.

Fall said that she’ll use a portion of the fund to train all-female Contanna employees in computer and digital skills as well as to modernize a digital payment system.

Fall’s Contanna won the Women-led category with Legendary Foods in Ghana walking away with $15 000 as runners-up.

3. Property management software platform, Over-C, secures $1.2M in equity investment

Property management software platform, Over-C, has announced securing £1 million (about $1.2 million) in equity investment from Ayre Ventures.

Michael Elliott, founder, and chief executive of Over-C, confirmed the funding in a media release on Tuesday.

Over-C claims it is at the forefront of risk management technology, with its adoption of blockchain technology, which solves challenges related to scalability, single points of failure, time stamping, privacy, trust, and reliability.

Ripples Nigeria gathered that as part of the agreement, Ayre Ventures managing director, Paul Rajchgod, would also join the Over-C board.

“Over-C epitomises the type of utility-focused company that will benefit from exploring BSV’s unmatched capacity for immutable data storage.

“I’m thrilled to support Michael’s team and I look forward to them showing the world that BSV can serve as a reliable source of both trust and truth,” noted Ayre.

Other Over-C’s partners include Hitachi, ScotRail, Eli Lilly, Savills, Munster Rugby, and Belfast Airport.

Trivia Answer: Parity RAM

Parity is also used in a type of computer memory called parity RAM. This type of RAM stores a parity bit with each byte of data to validate the integrity of each byte.

By Kayode Hamsat

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