Coca-Cola, through its Coke Studio Campaign, plans to install 4,000 WiFi hotspots in urban and rural areas in Kenya by October 2023. This comes after installing over 150 WiFi hotspots in select locations.
The Coke Studio campaign unites up-and-coming artists globally.
At the WiFi hotspot location, Kenyans can access Coke Studio content by participating in a "Drink. Scan. Enjoy" on-pack activation. Simply enter the code under the cap of your Coca-Cola bottle.
Here's what I've got for you today:
- Ex-MTN Nigeria CEO in $1 million pay battle
- Kenyan petitioner pushes for TikTok regulation
- P1 Ventures gets $25m for the first close of its second fund
Ex-MTN Nigeria CEO in $1 million pay battle
MTN and Ahmad Farroukh, CEO of Smile Communications, are involved in a legal battle over severance pay of over $1 million (R18.8 million).
When did the dispute start? Farroukh, a former MTN Nigeria CEO, said it began when the South African giant refused to honour an agreement that originated at Investcom, a company the telco acquired in July 2006.
Instead of a pension plan, Farroukh explained, Investcom provided an end-of-service payment to employees who left the company.
Here’s some background story: Farroukh began working for Investcom in 1995 and remained there until 2006, when MTN acquired it. In the same year, he became CEO of MTN Nigeria and held other positions until 2015, when he agreed to resign.
Farroukh spent nine years at MTN, where he said the team grew MTN Nigeria from 9 million subscribers to 40 million and paid $8 billion in dividends during his six-year tenure.
However, when he enquired about his end-of-service payment, MTN told him he did not qualify for severance pay because the company had changed its policy.
What’s the policy? Only in the event of mutual separation or after a contract expires and is not renewed would severance be paid.
But Farroukh contends that MTN didn’t disclose this policy change to him.
What now? While the case has been dragging since 2017, the first hearing is scheduled for October 16, 2023.
Kenyan TikTok ban petitioner is now pushing for regulation
I mentioned yesterday that Bob Ndolo, the CEO of Bridget Connect Consultancy, would appear before Kenya's National Assembly to push for a TikTok ban, as stated in his petition.
While he spoke to the parliament, he did not advocate for a ban. Instead, the petitioner has decided to emphasise the need for regulation.
Here’s the reason: “We have gotten a lot of calls from TikTokers, and that’s why we wanted to change to push for the regulations of the app to protect national security and protect the youth from inappropriate content,” Ndolo said.
He maintained, however, that his original petition had not been altered by coercion.
Ezekiel Mutua, CEO of the Music and Copyright Society of Kenya, who supports the petition, lamented that the app's unregulated content significantly impacts the general public.
Thus, Mutua urged lawmakers to act quickly to protect Kenyans from the harmful effects of TikTok, which he said has exposed kids to profanity and nudity.
Also, Collins Osewe, an advocate with Bridges Consultancy, claimed that the short-form video platform violated essential clauses in the constitution and various laws requiring restrictions on who can join it.
P1 Ventures gets $25m for the first close of its second fund
P1 Ventures, an Africa-focused venture capital firm, has secured $25 million for the first close of its second fund.
Several industrial and private companies in Africa and general partners of global funds in the United States and Europe contributed to the raise.
Founded by Mikael Hajjar (Founder and General Partner) and Hisham Halbouny (another GP) in 2021, P1 Ventures invests in early-stage industrial technology companies in Africa.
Most of P1 Ventures' initial fund investments were made at the seed stage, although it describes itself as multistage and occasionally makes Series A and B investments.
Its first fund, a proof-of-concept fund, distributed $11 million to 24 ventures focusing on the SaaS, eCommerce, fintech, insurtech, and health tech sectors.
Even though this second fund — its first institutional one — will continue to focus on these industries, the company is also incorporating AI into the mix.
P1 Ventures has observed that, on average, the companies in its portfolio have obtained 35 times more follow-on funding for every dollar invested.
By early 2024, the firm anticipates reaching a final close.
In case you missed it
- Nigerians have to work almost 5 times longer than an average European to afford mobile Internet
What I'm reading and watching
- Microsoft is going nuclear to power its AI ambitions
- Standard Bank ordered to remove Spotify radio ad for being dangerous to drivers
- Psychopath Vs Sociopath | How To Spot The Difference And Why You Need to Know This
- Do you live in Nigeria and work with a local or foreign company? Whether remotely, on-site, hybrid, full-time, part-time or as a freelancer. @TheIntelpoint is trying to understand the Nigerian workspace: how you work, and toxicity in the workspace among others. Please, fill out the questionnaire here.
- Afrifursa is hosting its annual tech event, Afri Future Tech Summit, in Toronto, Canada, from October 14-16, 2023. At the event, you will gain access to the most innovative companies and tech leaders from across Africa and Canada. Register here.
- The International Organisation of Employers (IOE) and Seedstars have launched the fourth edition of The Migration Challenge. The programme seeks global tech startups, particularly those in Northern Africa, the Middle East, and Central and Eastern Europe, to develop innovative standard migration procedures that benefit migrants, companies, and governments. These solutions should also address migration caused by the climate and support green transitions with migrant workforces. Apply here by October 6, 2023.
- Xapo Bank is looking for a Senior Data Analyst to join their team remotely. Apply here.
- Rainforest is looking for an AI Product Manager to work remotely. Apply here.
- Biconomy is hiring remote for the following roles: DevOps Engineer, Senior Backend Engineer, and Technical Product Manager (Developer Experience). Apply here.
- OPEC Fund is hiring an Investment Manager, Portfolio Management (Financial Institutions Sector) and (Infrastructure Sector). Apply before September 27, 2023 here and here, respectively.
- Co-creation Hub (CcHub) is looking for a skilled and experienced Impact and Evaluation Analyst. Apply here.
- CcHub is hiring a Research Associate. Apply here.
- Apply for the role of a Project Manager at CcHub here.
- Apply for the Design and Digital Marketing School Lagos Program if you want to learn skills in Graphic Design, Product Design, and Digital Marketing for 7 weeks, starting Monday, October 9, 2023. Apply here.
- Are you an MVP-stage impact-driven founder shaping the future of healthcare? Apply for the Halcyon Fellowship by October 21, 2023 here.
- If you are a software engineer, creative designer, product manager, design researcher, or a techie looking for an internship role, please, check out this website.
Have a wonderful Wednesday!
Victoria Fakiya for Techpoint Africa.