Kamusta,
Victoria from Techpoint here,
Here's what I've got for you today:
- Nigeria's e-hailing drivers join nationwide strike
- Gro Intelligence shuts down
- Internet crackdown hits South African private school students
- iyris’ $16 million Series A
Nigeria's e-hailing drivers join nationwide strike
Following a disagreement with the government over a new minimum wage, Nigeria's two largest labour unions, the Trade Union Congress (TUC) and the Nigerian Labour Congress (NLC), declared an indefinite strike to begin today, June 3, 2024.
Consequently, the Nigerian ride-hailing drivers’ union, the Amalgamated Union of App-based Transporters of Nigeria (AUATON), has reportedly told its members, including Bolt and Uber, to stop services.
This directive, shared in a circular by union president Comrade Adedamola Adeniran, calls for a nationwide service suspension to protest the government's economic policies.
Other than demanding a new minimum wage, the strike also calls for a rollback of electricity tariffs from ₦225/KwH to ₦65/KwH, and the removal of electricity usage band categories.
Comrade Ayoade Ibrahim, AUATON's General Secretary, believes that meeting the strike's goals will give Nigerians more disposable income, leading to more ride orders and other benefits.
This strike hits e-hailing companies at a tough time, as they're already struggling with declining ride orders and revenues. Many Nigerians are turning to cheaper alternatives due to the harsh economic climate.
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Thus, revenue losses for these companies could be huge, depending on how long the strike lasts.
Gro Intelligence shuts down
Gro Intelligence, a Kenyan-born agricultural insights platform, is reportedly shutting down after failing to secure enough funding to stay afloat.
Despite securing last-minute funding in February 2024 and laying off 60% of its staff, the company recently informed its remaining employees that it would shut up shop, keeping only a skeleton crew to wind things down.
The company, which has a presence in the United States, is currently being investigated by the SEC for potential investor fraud or misrepresentation. It is also facing lawsuits from former employees for allegedly violating labour laws during the layoff. The SEC is reportedly investigating communications and presentations made to investors, but has not commented on the case.
Gro Intelligence was founded in 2012 by Sara Menker and aimed to build the world's largest agricultural data platform. It secured an $85 million Series B round in January 2021 from investors like Intel Capital and Africa Internet Ventures and was listed as one of TIME's 100 most influential companies that year.
However, by February 2024, employees were informed the company couldn't make payroll, and Menker stepped down as CEO, though she remained involved in business development and fundraising.
Gro Intelligence primarily generated revenue from Unilever but struggled to expand its client base. The company had attempted to market itself as a food security platform to various governments without much success.
Despite its ambitious goals, Gro Intelligence's journey is ending. The company had claimed to build the world's largest climate data platform, using data from various sources to predict crop yields and provide insights. However, a combination of strategic missteps and financial challenges ultimately led to its downfall.
Internet crackdown hits South African private school students
Independent Institute of Education (IIE), a private higher education institution in South Africa, urges parents to keep a close eye on their kids' online activities by installing Internet monitoring software.
They've also put the kibosh on Whisper, an anonymous social media app, due to concerns about its inappropriate content, including sexual discussions and solicitations.
Parents at schools like Crawford, Pinnacle, Trinityhouse, and Abbotts College received a heads-up about the ban via a letter from the IIE.
IIE's group psychologist, Nasrin Kirsten, expressed worries about Whisper's anonymity, fearing it could jeopardise children's safety. The app has been blocked on school networks, and parents are encouraged to use software like Net Nanny to keep tabs on what their kids are up to online.
Kirsten emphasised that Whisper exposes youngsters to unsuitable discussions and solicitations, including sexual content.
The ban has the support of Klikd app co-founders Pam Tudin and Sarah Hoffman, who agree that anonymous platforms can lead to cyberbullying. Tudin pointed out that the cloak of anonymity can fuel gossip and hurtful comments, contributing to cyberbullying.
In July 2023, Unesco also called for a ban on smartphones in schools to improve learning, reduce disruptions, and shield students from cyberbullying.
iyris’ $16 million Series A
iyris, formerly known as RedSea, Riyadh and Abu Dhabi-based agritech startup has scored $16 million in Series A funding to fuel its growth.
The Ecosystem Integrity Fund (“EIF”), a climate and sustainability fund based in San Francisco led the round with support from big names like Global Ventures, Dubai Future District Fund (DFDF), Kanoo Ventures, Globivest, and Bonaventure Capital.
What's the plan with all that cash? The company plans to expand its sales coverage for their SecondSky greenhouse covers and nets. It’s also doubling down on developing innovative heat-blocking products and resilient plant genetics.
Its goal? To revolutionise sustainable food production and make life easier for farmers facing tough climates.
Speaking of tough climates, iyris is all about helping farmers boost their crop yields, cut input costs, and stretch out those growing seasons. Its SecondSky greenhouse covers and shade nets are game-changers, shielding plants from infrared heat radiation while still letting in the light they need to thrive.
And guess what? Farmers in countries like Egypt, Morocco, and the UAE are already jumping on board. But it’s not stopping there. It’s also working on breeding plants that can handle salt, heat, and drought like champs.
With its tech, iyris aims to slash energy and water use by up to 90%, giving growers a leg up in tough conditions.
Last week on Techpoint Africa
- The path out of a ₦2 billion hole
- Is Davido's crypto token a scam? Here's everything we know about it
- Bolt introduces a bidding system for drivers and riders in Nigeria
- MTN Uganda launches public share purchase to broaden local shareholding and compliance
- How mobile games are also a playground for scammers
- DFC announces over $250 million in new investments in Kenya’s e-mobility and digital connectivity
- Asia’s richest man to launch affordable 5G services in Ghana by late 2024
- Paystack and PiggyVest join forces in Brass acquisition
- Safaricom Ethiopia kicks off $1.5 billion investment with first batch of homegrown telecom towers
- Justice tribunal to begin sitting 5 days after Senegal launched digital platform for judicial reforms
- Helios Towers secures $30 million anchor commitment from British International Investment
- Raxio opens a data centre in Mozambique and plans to launch more facilities on the continent
- New bill will see Lagos join the ranks of states domesticating the Nigeria Startup Act
- Starlink secures licence in Botswana nearly four months after initial rejection
- Nigerian regulators approve 18 new loan companies
- Flutterwave secures preliminary payment aggregator licence in Mozambique
- Inside the Brass acquisition: strategic move or band-aid?
- Glovo partners with Siltech to use its EV bikes and charging ecosystem in some parts of Lagos
- AI takes centre stage as GITEX Morocco 2024 kicks off
- Oracle plans to open two public Cloud Regions in Morocco
- Moroccan agritech startup YoLa Fresh secures $7 million pre-Series A to solve supply chain issues
What I'm reading and watching
- Elon Musk finally agrees to testify in the SEC’s Twitter investigation
- Why Evolution Gave You Two Brains - Iain McGilchrist
Opportunities
- Moniepoint is currently hiring for 63 positions in the United Kingdom and several Nigerian states, including Lagos, Abia, and Anambra. Check them out here to apply.
- If you have a small business in Nigeria, Kenya, or South Africa, apply for the Google Hustle Academy here.
- If you're a Product Designer and are looking for a remote role, check out this link for several roles.
- Several companies are looking for software engineers. Check out this link to work remotely with them.
- Check out this link for several remote Product Manager roles.
- Explore this website to find multiple job opportunities in Data that align with your preferences.
- 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 productive week!
Victoria Fakiya for Techpoint Africa.
