As business slowly returns to normal, and the economy struggles to begin its process of self-recovery after months battling with the incapacitating rage of the pandemic; the Nigerian tech ecosystem, last week, recorded major milestones as it was characterised by equity acquisition, wins, and various launches.
While these are not only major pointers of development, they go on to inform investors, foreign especially, that Nigeria is positioning itself as a virile state.
Below is a digest for the week, highlighting the major tech build up.
Grand acquisition and wins
Nigeria’s auto-tech startup, during the week, completed the process of acquiring two Cheki platforms, ChekiNigeria and Cheki Ghana.
The newly founded automotive technology startup Autochek broke the news to press revealing plans to begin rebranding of its service stations across both countries.
The founder of Autochek, Etop Ikpe, brings his years of experience working as former CEO of Cars45 to build digital solutions that will enhance and enable a seamless and safe automotive commerce experience across Africa.
This acquisition, according to analysts, speaks volumes of growth and how the automotive sector seemed unaffected by the pandemic.
Zeena Platform and Power Bit Crunchers won the Lagos Smart Meter Hackathon to clinch a prize money of N5m each.
The startups was announced winners, during the week, following a grand finale event held at the Eko Innovative Centre, Victoria Island, Lagos, which saw in attendance the Executive Governor of Lagos State, Babajide Sanwo-Olu.
The governor, at the event, shared life lessons with the audience, drawing their attention to the need to keep on harnessing and building tech solutions to drive the state forward as vanguards.
Industry reviewers cited that the development displayed the role of partnership in driving change as the contest (Smart Meter Hackathon) was achieved through a partnership undertaking between the Lagos State Government and Africa Fintech Foundry.
ARM, one of Nigeria’s leading asset management organisation, launched a new sandbox for Fintech firms.
More than anything, ARM, courtesy of the new launch,reinstated its commitment and interest towards investing into the scaling of Fintech startups.
While the ARM board stated categorically that the new Sandbox would essentially be a new and more efficient way for local fintech startups to scale their integration and customer acquisition plans, analysts see an organisation that taps intowealth creation opportunities through a blend of traditional asset management and alternative investment services, as the sandbox.
In a unique fashion, the new ARM Sandbox, would allow any patronising fintech startup that resells Application Programme Interfaces (APIs), provides e-wallet, investments and payment services to integrate ARM’s API into their solutions.
CcHUB, during the same week, also launched Music-Tech Innovation Challenge 2020 as it seeks solutions that marries tech and music.
The challenge comes in partnership with MusicTechSpace, and is expected to provide winning solutions with access to incubation and the possibility of funding.
As analysts are optimistic, this could breed a new stream of creativity in the ever dynamic industry where tech predicts the future and music entertains the populace.
More so, the initiative brings together some of the brightest minds; like Audu Maikori (founder, Chocolate City Group), Uduak Oduok (founder, Africa Music Law), Godwin Tom (founder, The Godwin Tom Company and iManage Africa Entertainment), and Wale Davies (founder, Palmwine Music Festival); to produce something both imaginative and evergreenfrom the black soil.
Facebook, American social networking company, has announced intent to open its second African office in Lagos, Nigeria.
Perhaps, being Africa’s largest economy, Nigeria remains the best region to fly yet another space, after its initial Facebook Hub in Yaba.
However, their are queries from press and investment reviewers as to Facebook’s decision to pick Lagos for a return investment.
While it might make sense economically for Facebook as Lagos is the commercial hub where its investment has better chances to generate returns, there are subtle concerns that the decision seemed one-sided for a country with over 30 states.
To round up…
Jobberman launched a record-breaking initiative to ease unemployment as the number increases globally.
Regarded by reviewers as Nigeria’s largest ever virtual career fair, the online training and job placement website will host 250 employers and 10,000 jobseekers online onWednesday, September 30, 2020.
The organisation looks to bring 250 potential employers from various sectors, including digital, agriculture and creative industry, and 10,000 highly qualified candidates together via virtual engagement.
A lot has happened. A lot is happening. Join us next week for another edition of TechNigeria.
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