Gist of the week: Ambode in Yaba, Efritin’s closure and the resurrection of MMM

by | Jan 14, 2017

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Yabacon Valley is on fire!

Having attracted the attention of the supreme royal prince of the tech world, aka Mark Zukerberg, Yabacon has been the toast of many important personalities.

The latest visitor to the ‘Valley’ is the Governor of Lagos State, Akinwunmi Ambode, accompanied by Omobola Johnson ( the former Minister of Communication and Technology).

While speaking with tech entrepreneurs, the Governor pledged his support and promised grants and steady electricity supply to Yaba startups.

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Sadly, Efritin, an online classified marketplace is shutting down.

According to Nils Hammer, the CEO of Saltside Technologies (Efritin’s Swedish-based parent company), poor internet penetration and other challenging factors are responsible for their closure.

MMMers have a reason to rejoice.

Yesterday, a day earlier than the proposed date of re-opening, MMM announced its return via its Twitter account. Tweets show that MMM users are relieved and naysayers are thrown off balance (just a little bit).

This Week on Techpoint


Twitter dashboard will be shut down. From February 3rd, 2017, the Twitter dashboard app will no longer be up for use. Most small and medium scale business owners are disappointed as the app has ensured their visibility over the last seven months.

A logistics startup has processed orders worth nearly 1 billion. Kobo, just within four months have registered 100 percent demand growth. The startup has moved goods that weigh a cumulative of 350,000kg.

Good news for Video creators, Facebook will soon start paying you. Facebook will start paying video creators 55 percent of its ad revenue.

Six Nigerian startups to watch out for in 2017. They made an impression in the past year and we are trusting that they will carry on the momentum this year.


This post is an extract from our weekly newsletter. If you would like to receive summaries like this every week in your email box, you can subscribe here

Omotola Omolayo
Omotola Omolayo

Writer. Photographer. Interested in African culture, history, politics and policies.

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