iAfrikan Daily Brief: Nigeria's Lottery, Kenya Mobile Subscriptions, CAMSCORP Acquires NewGenAngels, And DEMO Africa

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Thursday, 02 February 2017

Nigeria Spends $79 Million Per Year On Imported Lottery Technology

Nigeria Spends $79 Million Per Year On Imported Lottery Technology

Niyi Adekunle, Managing Director and Chief Executive Officer of Nigeria's Lotgrand, whose company promotes the lotto business in Nigeria with the Machine Number Series (MNS), has revealed that the West African country's purchasing and maintenance of technology to run the lottery costs the country $79 million per year. Adekunle also explained that the hardware component alone made up 40 percent of their technology expenses to run the Nigerian lottery while software licenses and services make up another 20 and 40 percent respectively of their annual technology budget. Adekunle believes they could save huge costs especially on foreign exchange if Nigeria's technology sector "can support our business with the right technology software and hardware,”

Kenya's Mobile Subscription Numbers Record A Drop After New Metrics Are Introduced, The Latest CA Report Shows

Kenya's Mobile Subscription Numbers Record A Drop After New Metrics Are Introduced, The Latest CA Report Shows

According to the Communication Authority of Kenya's first quarter report for the 2016/2017 financial year, mobile subscriptions have declined by 3 per cent to stand at 38.5 million down from 39.7 million. Consequently, mobile penetration registered a 2.7 percent drop, going down from 90.0% in the previous quarter to 87.3%. The report further indicates a decline in data and internet subscriptions by 4.5 per cent to stand at 25.6 million down from 26.8 million in the preceding quarter. However, internet penetration remained unchanged at 85.3 per cent. These downward shifts have been attributed to a revision in data collection methods for mobile subscriptions information. From now on, only lines that have seen a revenue-generating activity in the previous 90 days will be considered in the statistics.

Commodities Company CAMSCORP Has Acquired NewGenAngels With Plans To Invest In And Scale Up Afrikan Tech Companies

Commodities Company CAMSCORP Has Acquired NewGenAngels With Plans To Invest In And Scale Up Afrikan Tech Companies

CAMSCORP, a global commodity trading company headquartered in London and trades commodities, provides advisory services and funds new ventures, have today announced their acquisition of NewGenAngels, a members-only investment Club for high liquid professionals and sophisticated angels, Ultra High Net Worth Individuals, venture capital firms, family offices and angel networks with an interest in Africa. Sean Ndiho Obedih (MD and founder of NewGenAngels) will be joining them to "work on expanding the Ventures arm of the organisation." CAMSCORP Ventures will continue to look for Afrikan technology startups to invest in, but these startups will need to be in a state where their requirement for capital is for scaling up. "Technology is a key component of our strategic plan and we are looking for companies that are at scale up stage. They must have proven technology and markets but need capital to scale their operations." said Sean Obedih speaking to iAfrikan.

DEMO Africa Will Visit Four New Cities On Its 15-Country Tour In Search Of Africa's Best Startups

DEMO Africa Will Visit Four New Cities On Its 15-Country Tour In Search Of Africa's Best Startups
Credit: DEMO Africa

The 6th edition of the main DEMO Africa startup showcase will take place on the 6th and 7th September 2017 in Johannesburg, South Africa. DEMO Africa offers startups from all over Africa a platform where they can meet VCs, investors, tech acquisition specialists, IT buyers and media from across the region and around the globe. The main event will happen at the end of a series of 16 mini-DEMO Africa events, known as the 'Innovation Tour', that will take place in 15 countries, with Botswana, Cote d’Ivoire, Senegal and Morocco taking part for the first time. Other countries to host the innovation tours include Kenya, Tanzania, Uganda, Rwanda, Ghana, Nigeria, Egypt, Zimbabwe and South Africa.

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Updates

Photo highlights of the "Annual Tech Round-Up 2017" we hosted at Mettā Nairobi on 26 January 2017. Link

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