How are you doing? How was your weekend?
My weekend was fun. For the first time in three years, I didn't have to go out or watch a movie to enjoy myself. 😂
If you want the full gist, please, hit the reply button. 😉
Last week, we had the last Pitch Friday of the year, and you can watch the recap here.
Don't forget to let me know how you are and how your weekend went. 🤗😉
Here’s what I’ve got for you today:
- Lessons from Sweden and India on the cashless economy
- Twitter relaunches Blue today
- PATH’s pilot programme to manage childhood illnesses in Kenya
Lessons from Sweden and India on the cashless economy
On December 6, 2022, the Central Bank of Nigeria announced that from January 9, 2023, individuals will be unable to withdraw more than ₦100,000 ($135) and ₦20,000 ($27) daily from over-the-counter (OTC) and ATM/PoS, respectively. Organisations can withdraw up to ₦500,000 ($676).
On December 8, 2022, Nigeria's House of Representatives summoned CBN Governor, Godwin Emefiele, to question the significance of the CBN's new withdrawal policy.
Be the smartest in the room
Well, the CBN might have persuaded the Senate Committee on Banking, Insurance, and Other Financial Institutions to see its reasoning.
CBN Deputy Governor on Financial System Stability, Mrs Aishat Ahmad, with her counterpart on Corporate Services, Edward Lametek Adamu, explained that former President Goodluck Jonathan's administration implemented the policy in 2012.
Lagos State served as the pilot scheme, and later in 2013, CBN extended the policy to Abuja and six other states.
However, CBN hasn’t fully implemented the policy since then.
Worldwide, several countries have implemented different measures in their quest for a cashless economy.
To find that sweet spot, it is essential to look at nations where cashless policies have worked well and others that had to wait to fix the framework it would work on.
In her latest article, Oluwanifemi discusses a tale of two cities: Sweden’s successful adoption and India’s mistakes.
You can read it here: What Sweden and India can teach Nigeria about the cashless economy
Twitter relaunches Blue today
Twitter is relaunching its Blue subscription today, Monday, December 12, 2022.
As you know, the subscription will cost $8 per month on the web and $11 monthly on the iOS App Store to compensate for Apple's 30% commission on in-app purchases.
If you want a "verified" checkmark on your profile, you must register a phone number first.
Changing your handle, display name, or profile photo" will remove the label until Twitter reviews your account again.
Twitter says subscribers will receive the blue profile checkmark and some features, including the ability to edit tweets, upload 1080p videos, and access reader mode.
It would also replace the "official" label it experimented with during the previous Blue push with a gold checkmark for businesses and a grey checkmark for "government and multilateral accounts" following later this week.
Sidebar: In November 2022, Twitter suspended its subscription-based blue tick verification labels, citing a spike in the number of fake and parody accounts created after subscribing.
It came after the company rolled out a new badge, a grey checkmark beneath the blue verification checkmark, that designates accounts as “Official” for select accounts.
PATH’s pilot programme to manage childhood illnesses in Kenya
International nonprofit organisation, Program for Appropriate Technology in Health (PATH), is piloting a programme to manage childhood illnesses in 19 dispensaries in the Lurambi and Ikolomani constituencies of Kakamega County, Kenya.
PATH helps selected dispensaries by providing devices to improve Maternal Neonatal Child Health (MNCH) aimed at children below five years old through the Tools for Integrated Management of Childhood Illnesses (TIMSY) project.
The TIMSY project is a protocol that helps identify children’s illnesses.
PATH claims it has provided nine oxygen concentrators — a device that concentrates the oxygen from a gas supply (typically ambient air) — through the TIMSY project to improve oxygen levels in children during medication.
It has also provided pulse oximeters to determine a child's heart rate and another device known as the Clinical Decision Support System (CDSS), which allows clinical officers to guide a child through all stages of disease diagnosis.
Interestingly, the organisation says the CDSS is designed so that if one of the vital steps is skipped, the machine notifies the clinical officer, allowing the incharge to go over all of the suggested diagnostics and recommendations on the type of medication to be given to the child.
PATH has collaborated with civil society organisations (CSOs) that work with Community Health Volunteers (CHVs) through the MNCHA to ensure proper project implementation.
Meshack Lupele, Chairperson of Matunda Jua Kazi CSO, a community-based organisation, claimed that since the project began in 2019, there has been a decrease in maternal deaths and childhood illnesses in the community surrounding the facility.
In case you missed it
- African venture capital firm, Aruwa Capital Management, announces the close of its first fund with support from the Visa Foundation
- Kenyan startup Kapu, led by ex-Jumia executive, raises $8M for social commerce platform
- Egyptian startup SideUp raises $1.2M to boost its e-commerce support platform
- Egyptian startup OneOrder secures $3M in funding to drive growth
- Estate and community management startup, VENCO, raises $670k pre-seed to digitise estate management in Africa
- South African startup Synatic secures $2.5 million in seed funding to expand US market reach
- Central Bank of Kenya resumes charges for mobile money wallet and bank transactions
- Healthlane a levé 2,4 millions de dollars, puis est passé d’un excellent lieu de travail aux salaires impayés, licenciements et détournements de fonds. Maintenant, il se pourrait qu’elle lève des fonds en série A
- The Fintech Summit Sponsor Highlight: Sycamore is providing P2P lending solutions to boost financial inclusion
- FTX-funded Chipper Cash lays off employees one year after raising $150 million
- After raising $140m+ from 4 funding rounds in 2022, mobility startup, Moove quietly “dismisses” employees
- CBN reduces withdrawal at ATMs, PoS, to ₦20,000 ($27) per day to further cashless policy
- 6 ways the CBN’s cash withdrawal limit could benefit Nigeria’s telecom companies, from new revenue streams to increased customer penetration
- Less than one month after ‘dismissing’ employees, mobility startup Moove announces raising $30 million — its 5th raise in 2022
- CBN’s cash withdrawal limit: 3 ways it’s good for you and 3 ways it’s not
- CBN governor summoned by Nigeria’s House of Reps to explain ₦20,000 ATM, PoS withdrawal limit
- What Sweden and India can teach Nigeria about the cashless economy
What I’m reading and watching
- How to Use Android's New Distraction-Free Reading Mode
- Google Has Advice For SEO Success…And Other Small Business Tech News This Week
- Microsoft acquires startup developing high-speed cables for transmitting data
- The World's Toughest Prison
- Teens Are In Crisis. Here’s Why.
- Why You Feel Anxious Socializing (and What to Do about It)
- Applications are open for the Tech Women Emerging Leaders Programme Fall 2023. Apply here.
- Applications for the Elites Digital Marketing Training & Recruitment 2023 are now open. Apply here.
- Applications are open for the Hostwriter Story Prize 2023. It highlights exemplary works of journalistic collaboration. Apply here.
- Startups in Kenya and Tanzania can get a chance to scale their impact-driven companies and receive a grant investment of up to €100K from the develoPPP Ventures. Apply here.
- Applications are open for Explore Africa Writing Contest 2022, a project to promote travel information and tourism on the continent. Apply here.
Have a fantastic week.
Victoria Fakiya for Techpoint Africa.